<SEC-DOCUMENT>0001022408-19-000008.txt : 20190416
<SEC-HEADER>0001022408-19-000008.hdr.sgml : 20190416
<ACCEPTANCE-DATETIME>20190416172917
ACCESSION NUMBER:		0001022408-19-000008
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190410
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20190416
DATE AS OF CHANGE:		20190416

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EPLUS INC
		CENTRAL INDEX KEY:			0001022408
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-COMPUTER & PERIPHERAL EQUIPMENT & SOFTWARE [5045]
		IRS NUMBER:				541817218
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34167
		FILM NUMBER:		19751759

	BUSINESS ADDRESS:	
		STREET 1:		13595 DULLES TECHNOLOGY DRIVE
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171-3413
		BUSINESS PHONE:		7039848400

	MAIL ADDRESS:	
		STREET 1:		13595 DULLES TECHNOLOGY DRIVE
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171-3413

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MLC HOLDINGS INC
		DATE OF NAME CHANGE:	19960906
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k.htm
<DESCRIPTION>EPLUS INC FORM 8-K 4-10-2019
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: ePlus inc.
         Document created using EDGARfilings PROfile 5.1.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body text="#000000" bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">
  <div>
    <div>
      <div>
        <div>
          <div>
            <hr size="3" noshade="noshade" style="WIDTH: 100%; COLOR: black; TEXT-ALIGN: left"> </div>
          <br>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">UNITED STATES</div>
          <div style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">SECURITIES AND EXCHANGE COMMISSION</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Washington, D.C. 20549</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman', times, serif; WIDTH: 100%">

                <tr>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; BORDER-BOTTOM: black 2px solid"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">FORM 8-K</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman', times, serif; WIDTH: 100%">

                <tr>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; BORDER-BOTTOM: black 2px solid"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">CURRENT REPORT</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date of Report (Date of earliest event reported): April 10, 2019</div>
          <div>
            <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman', times, serif; WIDTH: 100%">

                <tr>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; BORDER-BOTTOM: black 2px solid"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 34pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 34pt; FONT-FAMILY: Times New Roman; FONT-STYLE:
              italic; DISPLAY: inline">e</font>Plus inc.</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Exact name of registrant as specified in its charter)</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman', times, serif; WIDTH: 100%">

                <tr>
                  <td valign="top" style="WIDTH: 24%; BORDER-BOTTOM: black 2px solid">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Delaware</div>
                  </td>
                  <td valign="top" style="WIDTH: 2%; PADDING-BOTTOM: 2px"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; BORDER-BOTTOM: black 2px solid">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">001-34167</div>
                  </td>
                  <td valign="top" style="WIDTH: 2%; PADDING-BOTTOM: 2px"><br>
                  </td>
                  <td valign="top" style="WIDTH: 24%; BORDER-BOTTOM: black 2px solid">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">54-1817218</div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" style="WIDTH: 24%">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(State or other jurisdiction of incorporation or organization)</div>
                  </td>
                  <td valign="top" style="WIDTH: 2%"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Commission File Number)</div>
                  </td>
                  <td valign="top" style="WIDTH: 2%"><br>
                  </td>
                  <td valign="top" style="WIDTH: 24%">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(I.R.S. Employer Identification No.)</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">13595 Dulles Technology Drive Herndon, VA 20171-3413</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Address, including zip code, of principal executive offices)</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(703) 984-8400</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: center; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">(Registrant&#8217;s telephone number, including area code)</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div>
            <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman', times, serif; WIDTH: 100%">

                <tr>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; BORDER-BOTTOM: black 2px solid"><br>
                  </td>
                  <td valign="top" style="WIDTH: 26%; PADDING-BOTTOM: 2px"><br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
            filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">[] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">[] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">[] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
            240.14d-2(b))</div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">[] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
            240.13e-4(c))</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the
              Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
            <div style="COLOR: #000000; BACKGROUND-COLOR: #ffffff"><br>
            </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">Emerging growth company&#160;&#160;&#160;&#160;&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font></div>
            <div style="COLOR: #000000; BACKGROUND-COLOR: #ffffff"><br>
            </div>
            <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended
              transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;&#160;&#160;&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font></div>
            <br>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
            <div style="WIDTH: 100%; PAGE-BREAK-AFTER: always">
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                <hr size="3" noshade="noshade" style="WIDTH: 100%; COLOR: black; TEXT-ALIGN: left"> </div>
            </div>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
            <div style="text-align: left; margin-right: 14.95pt; margin-top: 3.2pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-size: 10pt; font-weight: bold;">Item 5.02 Departure of Directors or Certain Officers&#894; Election of Directors&#894;
              Appointment of Certain Officers&#894; Compensatory Arrangements of Certain Officers</div>
            <div style="margin-top: 0.4pt;"><br>
            </div>
            <div style="text-align: left; margin-top: 2.7pt; font-weight: normal;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>2020 Executive
                    Incentive Plan</u></font></font></div>
            <div style="margin-top: 0.3pt; font-weight: normal;"><br>
            </div>
            <div style="text-align: left; margin-right: 14.95pt; margin-top: 3.9pt; font-weight: normal;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">On April 10, 2019, the Compensation Committee (the "Committee") of the
                Board of Directors (the "Board") of the Company finalized the structure of cash incentive award agreements for the fiscal year ending March 31, 2020, under the Company's Cash Incentive Plan (the "CIP"), in which Mark P. Marron (President
                and Chief Executive Officer), Darren S. Raiguel (Chief Operating Officer) and Elaine D. Marion (Chief Financial Officer) will participate.</font></div>
            <div style="margin-top: 0.4pt; font-weight: normal;"><br>
            </div>
            <div style="text-align: left; font-weight: normal;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The fiscal year 2020 Company performance goals and their relative proportions, which are the same for all three
                executives, are:</font></div>
            <div style="text-align: left; font-weight: normal;"><br>
              <table cellspacing="0" cellpadding="0" id="za2308402c7f24b01b5910cb151701ec8" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 76.92%; vertical-align: top; border-bottom: #000000 2px solid;">
                      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2020 Financial Performance Goals</div>
                    </td>
                    <td style="width: 2.88%; vertical-align: top;">&#160;</td>
                    <td style="width: 15.38%; vertical-align: top; border-bottom: #000000 2px solid;">
                      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Weighting</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 76.92%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Consolidated net sales</font></div>
                    </td>
                    <td style="width: 2.88%; vertical-align: top;">&#160;</td>
                    <td style="width: 15.38%; vertical-align: top;">
                      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">20%</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 76.92%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Financing segment operating income</font></div>
                    </td>
                    <td style="width: 2.88%; vertical-align: top;">&#160;</td>
                    <td style="width: 15.38%; vertical-align: top;">
                      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">20%</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 76.92%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Earnings before taxes</font></div>
                    </td>
                    <td style="width: 2.88%; vertical-align: top;">&#160;</td>
                    <td style="width: 15.38%; vertical-align: top;">
                      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">30%</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 76.92%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Services revenue</font></div>
                    </td>
                    <td style="width: 2.88%; vertical-align: top;">&#160;</td>
                    <td style="width: 15.38%; vertical-align: top;">
                      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">30%</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <br>
            <div style="margin-top: 0.4pt; font-weight: normal;">Any awards earned under the CIP will be paid in cash.<br>
            </div>
            <div style="margin-top: 0.4pt; font-weight: normal;"><br>
            </div>
            <div style="text-align: left; font-weight: normal;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">In calculating whether performance goals have been achieved, actual results will be adjusted to exclude the
                following, as applicable:</font></div>
            <div style="text-align: left; font-weight: normal;"><br>
              <table cellspacing="0" cellpadding="0" id="z5ed22430e45541249b897e19292004ba" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 5.84%; vertical-align: top;">
                      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">(i)</div>
                    </td>
                    <td style="width: 89.35%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">the incentive compensation expensed by ePlus for payments under the CIP&#894;</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 5.84%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(ii)</font></div>
                    </td>
                    <td style="width: 89.35%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">all items of revenue, gain, or loss determined by the ePlus Board of Directors to be extraordinary or unusual in nature, and
                          not incurred or realized in the ordinary course of business&#894; and</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4.81%; vertical-align: top;">&#160;</td>
                    <td style="width: 5.84%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(iii)</font></div>
                    </td>
                    <td style="width: 89.35%; vertical-align: top;">
                      <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">any revenue, gain, or loss attributable to the business operations of any entity acquired by ePlus during the 2020 fiscal
                          year.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <br>
            <div style="text-align: left; margin-right: 14.95pt; font-weight: normal;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The cash incentive compensation for fiscal year 2020 can range from $0 to a maximum of: for
                Mr. Marron, $1,600,000; Mr. Raiguel, $800,000<font style="background-color: #FFFF00; font-size: 10pt; font-family: 'Times New Roman', Times, serif;"></font> and for Ms. Marion, $800,000<font style="background-color: #FFFF00; font-size:
                  10pt; font-family: 'Times New Roman', Times, serif;"></font>.</font></div>
            <div style="margin-top: 0.4pt; font-weight: normal;"><br>
            </div>
            <div style="text-align: left; margin-right: 6.45pt; font-weight: normal;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The award amount payable is a target award based on the level of attainment of the applicable
                performance goals as set forth in the participant's award agreement. The Committee may not waive or amend performance goals after the performance goals have been established, but has discretionary authority to reduce the amount that would
                otherwise be payable with respect to any award. In the event it is determined that an award was paid based on incorrect financial results, the Committee may lower the payment, and to the extent permitted by applicable law, require the
                participant to reimburse the Company for any amount paid with respect to such an award. Additionally, the CIP provides that cash payments are subject to recovery by the Company to the extent required by the Dodd-Frank Wall Street Reform and
                Consumer Protection Act of 2010 and the Sarbanes-Oxley Act of 2002 and any regulations promulgated thereunder.</font></div>
            <div style="text-align: left; margin-right: 6.45pt; margin-left: 5.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: normal;"> </font><br>
              </font></div>
            <div style="text-align: left; margin-right: 6.45pt; margin-left: 5.9pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
              </font></div>
          </div>
        </div>
        <div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt">
            <div> </div>
            &#160; <br>
          </div>
          <div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
            <div style="WIDTH: 100%; PAGE-BREAK-AFTER: always">
              <div style="WIDTH: 100%; TEXT-ALIGN: center">
                <hr size="2" noshade="noshade" style="COLOR: black"> </div>
            </div>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
            caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
          <div>
            <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman', times, serif; WIDTH: 100%">

                <tr>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" align="left" style="WIDTH: 17%">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">ePlus inc.</div>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                </tr>
                <tr>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 17%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                </tr>
                <tr>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" align="left" style="WIDTH: 17%">
                    <div style="FONT-SIZE: 10pt; TEXT-DECORATION: underline; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">By: /s/ Elaine D. Marion</div>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                </tr>
                <tr>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" align="left" style="WIDTH: 17%">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Elaine D. Marion</div>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                </tr>
                <tr>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 12%"><br>
                  </td>
                  <td valign="middle" align="left" style="WIDTH: 17%">
                    <div style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Chief Financial Officer</div>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                  <td valign="middle" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; WIDTH: 9%"><br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&#160;</div>
          <div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">Date: April 16, 2019<br>
          </div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
          </div>
          <br>
          <hr size="3" noshade="noshade" style="WIDTH: 100%; COLOR: black; TEXT-ALIGN: left"> </div>
      </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
