<SUBMISSION>
<ACCESSION-NUMBER>0000950144-03-013415
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20040113
<FILING-DATE>20031203
<EFFECTIVENESS-DATE>20031203
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>JABIL CIRCUIT INC
<CIK>0000898293
<ASSIGNED-SIC>3672
<IRS-NUMBER>381886260
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0831
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>001-14063
<FILM-NUMBER>031035515
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>10560 NINTH ST NORTH
<CITY>ST PETERSBURG
<STATE>FL
<ZIP>33716
<PHONE>7275779749
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>10560 NINTH STREET NORTH
<CITY>ST PETERSBURG
<STATE>FL
<ZIP>33716
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>g86079def14a.htm
<DESCRIPTION>JABIL CIRCUIT, INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>Jabil Circuit, Inc.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>SCHEDULE 14A<BR>INFORMATION REQUIRED IN PROXY STATEMENT</B>
</FONT>


<P align="center"><FONT size="2"><B>SCHEDULE 14A INFORMATION<BR>Proxy Statement Pursuant to Section 14(a) of the Securities<BR>Exchange Act of 1934</B>
</FONT>


<P align="left"><FONT size="2">Filed by the Registrant&nbsp;&nbsp;<FONT face="Wingdings">&#120;</FONT>
</FONT>
<P align="left"><FONT size="2">Filed by a Party other than the Registrant&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="53%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><FONT size="2">Check the appropriate box:</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD colspan="7"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><FONT face="Wingdings">&#111;</FONT></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Preliminary Proxy Statement
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"><FONT face="Wingdings">&#111;</FONT>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Confidential, for Use of the Commission<br>
Only (as permitted by Rule&nbsp;14a-6(e)(2))</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><FONT face="Wingdings">&#120;</FONT></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Definitive Proxy Statement</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><FONT face="Wingdings">&#111;</FONT></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Definitive Additional Materials</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2"><FONT face="Wingdings">&#111;</FONT></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Soliciting Material Under Rule&nbsp;14a-12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">JABIL CIRCUIT, INC.
</FONT>

<DIV align="center"><HR align="center" size="1" width="100%" noshade>
</DIV>

<DIV align="center"><FONT size="2">(Name of Registrant as Specified In Its Charter)
</FONT>
</DIV>

<P align="center"><HR align="center" size="1" width="100%" noshade>

<DIV align="center"><FONT size="2">(Name of Person(s) Filing proxy statement, if other than the Registrant)
</FONT>
</DIV>

<P align="left"><FONT size="2">Payment of Filing Fee (Check the appropriate box):
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2"><FONT face="Wingdings">&#120;</FONT></FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">No fee required.</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2"><FONT face="Wingdings">&#111;</FONT></FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Title of each class of securities to which transaction applies:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Aggregate number of securities to which transaction applies:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule&nbsp;0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(4)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Proposed maximum aggregate value of transaction:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(5)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Total fee paid:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2"><FONT face="Wingdings">&#111;</FONT></FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Fee paid previously with preliminary materials.</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="1%" align="left" nowrap><FONT size="2"><FONT face="Wingdings">&#111;</FONT></FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Check box if any part of the
fee is offset as provided by
Exchange Act Rule&nbsp;0-11(a)(2)
and identify the filing for
which the offsetting fee was
paid previously. Identify the
previous filing by registration
statement number, or the Form
or Schedule and the date of its
filing.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Amount Previously Paid:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Form, Schedule or Registration Statement No.:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Filing Party:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">(4)</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><FONT size="2">Date Filed:</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%" align="left" nowrap><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="93%"><HR align="center" size="1" width="100%" noshade></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2"></FONT>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B><FONT size="4">JABIL CIRCUIT, INC.</FONT></B>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<DIV>&nbsp;</DIV>

<!-- link1 "NOTICE OF ANNUAL MEETING OF STOCKHOLDERS To Be Held on January 13, 2004" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center">
<B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</B>
</DIV>

<DIV align="center">
<B>To Be Held on January&nbsp;13, 2004</B>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="left">
TO THE STOCKHOLDERS:

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">NOTICE IS HEREBY GIVEN that the Annual Meeting of
Stockholders of Jabil Circuit, Inc., a Delaware corporation
(&#147;Jabil&#148;), will be held on Tuesday, January&nbsp;13,
2004, at 10:00&nbsp;a.m., local time, in the Sunset Ballroom at
the Vinoy Country Club located at 600&nbsp;Snell Isle Boulevard,
St.&nbsp;Petersburg, Florida 33704 for the following purposes:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">1.&nbsp;To elect eight directors to serve for the
    ensuing year or until their successors are duly elected and
    qualified;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">2.&nbsp;To approve amendments to the Jabil
    Circuit, Inc. 2002 Stock Incentive Plan (the &#147;Incentive
    Plan&#148;) to (i)&nbsp;provide for an increase the aggregate
    number of shares of Jabil common stock that may be subject to
    future awards under the Incentive Plan as of November&nbsp;14,
    2003 from 1,512,705&nbsp;shares to 11,512,705&nbsp;shares,
    (ii)&nbsp;prohibit the repricing of outstanding stock options
    granted pursuant to the Incentive Plan, and (iii)&nbsp;require
    stockholder approval for certain amendments to the Incentive
    Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">3.&nbsp;To ratify the appointment of KPMG LLP as
    Jabil&#146;s independent auditors for the fiscal year ending
    August&nbsp;31, 2004; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">4.&nbsp;To transact such other business as may
    properly come before the Annual Meeting or any adjournment
    thereof.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil&#146;s board of directors intends to
present the following eight nominees for director at the annual
meeting: William D. Morean, Thomas A. Sansone, Timothy L. Main,
Lawrence J. Murphy, Mel S. Lavitt, Steven A. Raymund, Frank A.
Newman and Laurence S. Grafstein. The foregoing items of
business are more fully described in the Proxy Statement
accompanying this Notice. Only stockholders of record at the
close of business on November&nbsp;14, 2003 are entitled to
notice of and to vote at the Annual Meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A list of all stockholders entitled to vote at
the 2003 Annual Meeting will be available for examination at the
Office of General Counsel of Jabil Circuit, Inc., at 10560
Dr.&nbsp;Martin Luther King,&nbsp;Jr. Street North,
St.&nbsp;Petersburg, Florida 33716, for the ten days before the
meeting between 9:00 a.m. and 5:00 p.m., local time, and at the
place of the Annual Meeting during the Annual Meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">You have the option to receive future proxy
materials electronically via the Internet. You may choose to do
so by following the simple instructions contained in this
mailing. Offering electronic delivery of future annual reports
and proxy statements is not only cost-effective for Jabil but is
also friendlier to the environment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All stockholders are cordially invited to attend
the Annual Meeting in person. However, to ensure your
representation at the Annual Meeting, you are urged to vote your
shares using one of the following methods: (1)&nbsp;vote through
the Internet at the Web site shown on the proxy card; or
(2)&nbsp;mark, date, sign and return the enclosed proxy as
promptly as possible in the postage-prepaid envelope enclosed
for that purpose. If you elected to receive the 2003 proxy
materials over the Internet, you will not receive a paper proxy
card and should vote online, unless you cancel your enrollment
or we discontinue the availability of our proxy materials on the
Internet. YOU MAY REVOKE YOUR PROXY IN THE MANNER DESCRIBED IN
THE ACCOMPANYING PROXY STATEMENT AT ANY TIME BEFORE IT HAS BEEN
VOTED AT THE ANNUAL MEETING. ANY STOCKHOLDER ATTENDING THE
ANNUAL MEETING MAY VOTE IN PERSON EVEN IF HE OR SHE HAS RETURNED
A PROXY.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="38%"></TD>
    <TD width="62%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">FOR THE BOARD OF DIRECTORS OF
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">JABIL CIRCUIT, INC.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Robert L. Paver
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I><FONT size="2">General Counsel and Secretary</FONT></I></TD>
</TR>

</TABLE>

<DIV align="left">
<FONT size="2">St. Petersburg, Florida
</FONT>
</DIV>

<DIV align="left">
<FONT size="2">December&nbsp;3, 2003
</FONT>
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">NOTICE OF ANNUAL MEETING OF STOCKHOLDERS To Be Held on January 13, 2004</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PROXY STATEMENT FOR ANNUAL MEETING OF STOCKHOLDERS January 13, 2004</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PROPOSAL NO. 1 ELECTION OF DIRECTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">CORPORATE GOVERNANCE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">PROPOSAL NO. 2 APPROVAL OF AMENDMENTS TO THE JABIL CIRCUIT, INC. 2002 STOCK INCENTIVE PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">PROPOSAL NO. 3 RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">AUDIT COMMITTEE REPORT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">OTHER INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">EXECUTIVE OFFICER COMPENSATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">CERTAIN TRANSACTIONS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">REPORT OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">STOCK PRICE PERFORMANCE GRAPH</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">OTHER MATTERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#013">APPENDIX A JABIL CIRCUIT, INC. 2002 STOCK INCENTIVE PLAN</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">IMPORTANT:</FONT></B><FONT size="2"> WHETHER
OR NOT YOU PLAN TO ATTEND THE ANNUAL MEETING, YOU ARE REQUESTED
TO COMPLETE AND PROMPTLY RETURN THE ENCLOSED PROXY IN THE
ENVELOPE PROVIDED OR VOTE THROUGH THE INTERNET.
</FONT>

<P align="center">
<B><FONT size="4">JABIL CIRCUIT, INC.</FONT></B>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<DIV>&nbsp;</DIV>

<!-- link1 "PROXY STATEMENT FOR ANNUAL MEETING OF STOCKHOLDERS January 13, 2004" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center">
<B>PROXY STATEMENT</B>

<DIV align="center">
<B>FOR ANNUAL MEETING OF STOCKHOLDERS</B>
</DIV>

<DIV align="center">
<B>January&nbsp;13, 2004</B>
</DIV>

<P align="center">
<HR size="1" width="26%" align="center" noshade>

<P align="center">
<B>INFORMATION CONCERNING SOLICITATION AND VOTING</B>

<P align="left">
<B><FONT size="2">General</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The enclosed Proxy is solicited on behalf of
Jabil Circuit, Inc., a Delaware corporation (&#147;Jabil&#148;),
for use at the Annual Meeting of Stockholders to be held on
Tuesday, January&nbsp;13, 2004, at 10:00&nbsp;a.m., local time,
and at any adjournment thereof, for the purposes set forth
herein and in the accompanying Notice of Annual Meeting of
Stockholders. The Annual Meeting will be held in the Sunset
Ballroom at the Vinoy Country Club located at 600&nbsp;Snell
Isle Boulevard, St.&nbsp;Petersburg, Florida 33704. Jabil&#146;s
principal executive office is located at 10560 Dr.&nbsp;Martin
Luther King,&nbsp;Jr. Street North, St. Petersburg, Florida
33716, and its telephone number at that location is
(727)&nbsp;577-9749.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">These Proxy solicitation materials, together with
Jabil&#146;s 2003 Annual Report to Stockholders, were mailed on
or about December&nbsp;3, 2003 to all stockholders entitled to
vote at the Annual Meeting.
</FONT>

<P align="left">
<B><FONT size="2">Record Date</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Stockholders of record at the close of business
on November&nbsp;14, 2003 (the &#147;Record Date&#148;) are
entitled to notice of and to vote at the Annual Meeting. As of
the Record Date, 199,850,431&nbsp;shares of Jabil&#146;s common
stock were issued and outstanding. For information regarding
security ownership by management and by the beneficial owners of
more than 5% of Jabil&#146;s common stock, see &#147;Other
Information-Share Ownership by Principal Stockholders and
Management.&#148; The closing sales price of Jabil&#146;s common
stock on the New York Stock Exchange (&#147;NYSE&#148;) on the
Record Date was $28.85&nbsp;per share.
</FONT>

<P align="left">
<B><FONT size="2">Revocability of Proxies</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Any proxy given pursuant to this solicitation may
be revoked by the person giving it at any time before its use by
delivering to Jabil&#146;s Secretary a written notice of
revocation or a duly executed proxy bearing a later date (or
voting via the Internet at a later date) or by attending the
Annual Meeting and voting in person.
</FONT>

<P align="left">
<B><FONT size="2">Voting and Solicitation</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each stockholder is entitled to one vote for each
share of common stock on all matters presented at the Annual
Meeting. Stockholders do not have the right to cumulate their
votes in the election of directors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The cost of soliciting proxies will be borne by
Jabil. In addition, Jabil may reimburse brokerage firms and
other persons representing beneficial owners of shares for their
expenses in forwarding solicitation materials to such beneficial
owners. Proxies may also be solicited by certain of Jabil&#146;s
directors, officers and regular employees, without additional
compensation, personally or by telephone, telegram, letter or
facsimile.
</FONT>

<P align="center">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">
<B><FONT size="2">Quorum; Abstentions; Broker
Non-Votes</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A majority of the shares of Jabil common stock
outstanding on the Record Date must be present or represented at
the Annual Meeting in order to have a quorum for the transaction
of business. Abstentions (votes &#147;withheld&#148;) and broker
non-votes will be counted as present for purposes of determining
the presence of a quorum. If a quorum is present and voting, the
eight nominees for director receiving the highest number of
affirmative votes of the shares present or represented and
entitled to be voted for them shall be elected as directors.
Therefore, abstentions and broker non-votes will have no effect
on the election of directors. The approval of Proposals&nbsp;2
and 3 require the affirmative vote of a majority of the
outstanding shares present or represented and entitled to vote
at the Annual Meeting together with the affirmative vote of a
majority of the required quorum. Abstentions and broker
non-votes can have the effect of preventing approval of
Proposals&nbsp;2 and 3 where the number of affirmative votes,
although a majority of the votes cast, does not constitute a
majority of the required quorum. If you own shares through a
broker, you must instruct your broker how to vote in order for
your vote to be counted.
</FONT>

<P align="left">
<B><FONT size="2">Voting Results</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Votes will be tabulated by the inspector of
election appointed for the meeting, who will separately tabulate
affirmative and negative votes, abstentions and broker non-votes.
</FONT>

<P align="left">
<B><FONT size="2">Voting Electronically via the
Internet</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">For Shares Directly Registered in the Name of
the Stockholder.</FONT></I><FONT size="2"> Stockholders with
shares registered directly with EquiServe Trust Company, N.A.
(&#147;EquiServe&#148;), Jabil&#146;s transfer agent, may vote
by mailing in the proxy or on the Internet at the following
address on the World Wide Web:
<U>http://www.eproxyvote.com/jbl.</U> Specific instructions to
be followed by any registered stockholder interested in voting
via the Internet are set forth on the enclosed proxy card. Votes
submitted via the Internet by a registered stockholder must be
received by 11:59&nbsp;p.m. (Eastern Standard Time) on
January&nbsp;12, 2004.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">For Shares Registered in the Name of a
Brokerage or Bank.</FONT></I><FONT size="2"> A number of
brokerage firms and banks are participating in a program for
shares held in &#147;street name&#148; that offers Internet
voting options. This program is different from the program
provided by EquiServe for shares registered in the name of the
stockholder. If your shares are held in an account at a
brokerage firm or bank participating in the street name program,
you may have already been offered the opportunity to elect to
vote using the Internet. Votes submitted via the Internet
through the street name program must be received by
11:59&nbsp;p.m. (Eastern Standard Time) on January&nbsp;12,
2004. The giving of such a proxy will not affect your right to
vote in person should you decide to attend the Annual Meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">These Internet voting procedures, which comply
with Delaware law, are designed to authenticate
stockholders&#146; identities, to allow stockholders to vote
their shares and to confirm that stockholders&#146; votes have
been recorded properly. Stockholders voting via the Internet
through either of these voting procedures should understand that
there may be costs associated with electronic access, such as
usage charges from Internet access providers and telephone
companies, that must be borne by the stockholders. Also, please
be aware that Jabil is not involved in the operation of either
of these Internet voting procedures and cannot take
responsibility for any access or Internet service interruptions
that may occur or any inaccuracies, erroneous or incomplete
information that may appear.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">You may elect to receive future notices of
meetings, proxy materials and annual reports electronically via
the Internet, if then made available by Jabil. If you have
previously consented to electronic delivery, your consent will
remain in effect until withdrawn. If you have not yet enrolled
in Jabil&#146;s Internet delivery program, we strongly encourage
you to do so as it is a cost-effective way for Jabil to send you
proxy statement and annual report materials. Participation
instructions are set forth on the enclosed proxy card. When next
year&#146;s proxy statement and annual report materials are
available, you will be sent an e-mail telling you how to access
them electronically.
</FONT>

<P align="center"><FONT size="2">2
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If you elect to access these materials via the
Internet, you may still request paper copies by contacting your
brokerage firm, bank or Jabil. Your participation in the new
Internet program will remain in effect until you cancel your
enrollment. You are free to cancel your enrollment at any time.
</FONT>

<P align="left">
<B><FONT size="2">Deadline for Receipt of Stockholder
Proposals</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Proposals of stockholders of Jabil that are
intended to be presented by such stockholders at Jabil&#146;s
2004 Annual Meeting of Stockholders must be submitted and comply
with all applicable requirements of Rule&nbsp;14a-8 promulgated
under the Securities Exchange Act of 1934 and must be received
by Jabil no later than August&nbsp;4, 2004 in order to be
considered for possible inclusion in the proxy statement and
form of proxy relating to that meeting. In addition, the proxy
solicited by the Board of Directors for the 2004 Annual Meeting
of Stockholders will confer discretionary authority to vote on
any stockholder proposal presented at that meeting, unless Jabil
is provided with written notice of such proposal by
October&nbsp;19, 2004. Any proposals must be mailed to our
principal executive offices located at 10560 Dr.&nbsp;Martin
Luther King,&nbsp;Jr. Street North, St.&nbsp;Petersburg, Florida
33716; Attention:&nbsp;Secretary.
</FONT>

<P align="left">
<B><FONT size="2">Fiscal Year End</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil&#146;s fiscal year ends August&nbsp;31.
</FONT>

<P align="center"><FONT size="2">3
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "PROPOSAL NO. 1 ELECTION OF DIRECTORS" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center">
<B><FONT size="2">PROPOSAL NO. 1</FONT></B>

<P align="center">
<B><FONT size="2">ELECTION OF DIRECTORS</FONT></B>

<P align="left">
<B><FONT size="2">Nominees</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A board of eight directors is to be elected at
the 2003 Annual Meeting. Jabil&#146;s Board of Directors has
authorized the nomination at the Annual Meeting of the persons
named herein as candidates. Unless otherwise instructed, the
proxy holders will vote the proxies received by them for
Jabil&#146;s eight nominees named below, all of whom are
presently directors of Jabil. If any nominee of Jabil is unable
or declines to serve as a director at the time of the Annual
Meeting, the proxies will be voted for any nominee who shall be
designated by the present Board of Directors to fill the
vacancy. Jabil is not aware of any nominee who will be unable or
will decline to serve as a director. The term of office of each
person elected as a director will continue until the next Annual
Meeting of Stockholders or until a successor has been elected
and qualified.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The names of Jabil&#146;s nominees for director
and certain information about them are set forth below:
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="38%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="36%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Age</FONT></B></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">Principal Position</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Director Since</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">William D. Morean(1)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">48</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Chairman of the Board of Directors
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1978</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Thomas A. Sansone
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">54</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Vice Chairman of the Board of Directors
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1983</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Timothy L. Main(1)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">46</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Chief Executive Officer, President and Director
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1999</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Lawrence J. Murphy
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">61</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Director
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1989</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Mel S. Lavitt(2)(3)(4)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">66</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Director
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1991</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Steven A. Raymund(2)(3)(4)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">48</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Director
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1996</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Frank A. Newman(2)(3)(4)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">55</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Director
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">1998</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Laurence S. Grafstein(4)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">43</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Director
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="top" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Member of the committee that administers stock
    option plans for non-officers and non-directors.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Member of the Compensation Committee.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Member of the Audit Committee.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Member of the Nominating and Corporate Governance
    Committee.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Except as set forth below, each of the nominees
has been engaged in his principal occupation set forth below
during the past five years. There are no family relationships
among any of the directors and executive officers of Jabil.
There are no arrangements or understandings between any of the
persons nominated to be a director and any other persons
pursuant to which any of such nominees was selected. One-half of
the directors are &#147;independent&#148; as defined in the
existing and recently approved listing standards of the NYSE, as
well as recent and proposed statutory, regulatory and other
requirements applicable to Jabil.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">William D. Morean.
</FONT></B><FONT size="2">Mr.&nbsp;Morean has served as Chairman
of the Board since 1988 and as a director since 1978.
Mr.&nbsp;Morean joined Jabil in 1977 and assumed management of
day-to-day operations the following year. Mr.&nbsp;Morean was
Chief Executive Officer from 1988 to September 2000.
Mr.&nbsp;Morean has also served as Jabil&#146;s President and
Vice President and held various operating positions with Jabil.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Thomas A. Sansone.
</FONT></B><FONT size="2">Mr.&nbsp;Sansone served as President
of Jabil from 1988 to January 1999 when he became Vice Chairman
of the Board. Mr.&nbsp;Sansone joined Jabil in 1983 as Vice
President and has served as a director since that time. Prior to
joining Jabil, Mr.&nbsp;Sansone was a practicing attorney with a
specialized practice in taxation. He also served as an adjunct
Professor at Detroit College of Law. He holds a B.A. from
Hillsdale College, a J.D. from Detroit College of Law and an
L.L.M. in taxation from New York University.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Timothy L. Main.
</FONT></B><FONT size="2">Mr.&nbsp;Main has served as Chief
Executive Officer of Jabil since September 2000, as President
since January 1999 and as a director since October 1999. He
joined Jabil in April 1987 as a Production Control Manager, was
promoted to Operations Manager in September 1987, to Project
Manager in July 1989, to Vice President, Business Development in
May 1991 and to Senior Vice President, Business
</FONT>

<P align="center"><FONT size="2">4
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">Development in August 1996. Prior to joining
Jabil, Mr.&nbsp;Main was a commercial lending officer,
international division for the National Bank of Detroit.
Mr.&nbsp;Main has earned a B.S. from Michigan State University
and Master of International Management from the American
Graduate School of International Management (Thunderbird).
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Lawrence J. Murphy.
</FONT></B><FONT size="2">Mr.&nbsp;Murphy has served as a
director of Jabil since September 1989 and as an independent
consultant to Jabil since September 1997. From March 1992 until
September 1997, Mr.&nbsp;Murphy served as a director of Core
Industries, a diversified conglomerate where he has held various
executive level positions since 1981, including Executive Vice
President and Secretary. Prior to joining Core Industries,
Mr.&nbsp;Murphy was a practicing attorney at the law firm of
Bassey, Selesko, Couzens&nbsp;&#38; Murphy, P.C. and a certified
public accountant with the accounting firm of
Deloitte&nbsp;&#38; Touche. Mr.&nbsp;Murphy is also currently a
director of The Michigan Foundation Company, a ready-mix
concrete supplier, and Baker Financial, a financial consulting
services firm. He is also a member of the Executive Committee
for the University of Detroit Mercy.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Mel S. Lavitt.
</FONT></B><FONT size="2">Mr.&nbsp;Lavitt has served as a
director of Jabil since September 1991. Mr.&nbsp;Lavitt has been
a Managing Director at the investment banking firm of C.E.
Unterberg, Towbin (or its predecessor) since August 1992 and is
currently serving as Vice Chairman and Managing Director. From
June 1987 until August 1992, Mr.&nbsp;Lavitt was President of
Lavitt Management, a business consulting firm. From 1978 until
June 1987, Mr.&nbsp;Lavitt served as an Administrative Managing
Director for the investment banking firm of L.F. Rothschild,
Unterberg, Towbin, Inc. Mr.&nbsp;Lavitt is also a director of
Captiva Corporation and St. Bernard Software.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Steven A. Raymund.
</FONT></B><FONT size="2">Mr.&nbsp;Raymund has served as a
director of Jabil since January 1996. Mr.&nbsp;Raymund began his
career at Tech Data Corporation, a distributor of personal
computer products, in 1981 as Operations Manager. He became
Chief Operating Officer in 1984 and was promoted to the position
of Chief Executive Officer of Tech Data Corporation in 1986.
Mr.&nbsp;Raymund also serves as Chairman of the Board of Tech
Data Corporation, a position he has held since 1991.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Frank A. Newman.
</FONT></B><FONT size="2">Mr.&nbsp;Newman has served as a
director of Jabil since January 1998. Mr.&nbsp;Newman has served
as the Chairman of Medical Nutrition USA, Inc., a
nutrition-medicine company, since March 2003 and its Chief
Executive Officer since November 2002. From January 2001 until
November 2002, Mr.&nbsp;Newman was a private investor and
advisor to health care and pharmaceutical companies. From April
2000 until January 2001, Mr.&nbsp;Newman was President, Chief
Executive Officer and a director of more.com, an Internet
pharmaceutical company. From June 1993 to June 2000,
Mr.&nbsp;Newman served as President, Chief Operating Officer and
director, from February 1996 until June 2000 as Chief Executive
Officer and from February 1997 to June 2000 as Chairman of the
Board of Eckerd Corporation, a retail drug store chain. From
January 1986 until May 1993, Mr.&nbsp;Newman was the President,
Chief Executive Officer and a director of F&#38;M Distributors,
Inc., a retail drug store chain. Mr.&nbsp;Newman is also a
director of JoAnn Stores, Inc., Medical Technology Systems, Inc.
and Medical Nutrition USA, Inc.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Laurence S. Grafstein.
</FONT></B><FONT size="2">Mr.&nbsp;Grafstein has served as a
director of Jabil since April 2002. Mr.&nbsp;Grafstein has been
Managing Director and co-head of Technology, Media and
Telecommunications for Lazard Freres&nbsp;&#38; Co. LLC since
joining the firm in 2001. He has been an investment banker since
1990. Prior to joining Lazard, Mr.&nbsp;Grafstein headed the
telecommunications practices at the investment banks Credit
Suisse First Boston and Wasserstein Perella&nbsp;&#38; Co. and
was a co-founder of Gramercy Communications Partners LLC.
Mr.&nbsp;Grafstein has earned a B.A. from Harvard, an M.Phil
from Oxford University and a J.D. from the University of Toronto.
</FONT>

<P align="left">
<B><FONT size="2">Recommendation of the Board of
Directors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
A VOTE &#147;FOR&#148; EACH OF THE NOMINEES LISTED
ABOVE.</FONT></B>

<P align="center"><FONT size="2">5
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">
<B><FONT size="2">Board Meetings and Committees</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors of Jabil held a total of
seven meetings and took action by written consent nine times
during the 2003 fiscal year. All directors attended 75% or more
of the aggregate number of Board meetings and committee
meetings. The Board of Directors has an Audit Committee, a
Compensation Committee, a Nominating and Corporate Governance
Committee and a committee that administers stock option plans
with respect to individuals who are neither directors nor
officers of Jabil.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Audit Committee. </FONT></I><FONT size="2">The
Audit Committee assists the Board of Directors in fulfilling the
Board&#146;s oversight responsibilities relating to (1)&nbsp;the
financial reports and other financial information provided by
Jabil to the public, (2)&nbsp;Jabil&#146;s systems of internal
controls regarding finance and accounting established by
management and the Board, and (3)&nbsp;Jabil&#146;s auditing,
accounting and financial reporting processes generally and is
ultimately responsible for the selection, evaluation, retention
and where appropriate, the replacement of Jabil&#146;s
independent auditing firm. The members of the Audit Committee
are currently Messrs.&nbsp;Raymund, Lavitt and Newman. The Board
of Directors has determined that each of Messrs.&nbsp;Raymund,
Lavitt and Newman are independent, as defined in
Sections&nbsp;303.01(B)(2)(a) and (3)&nbsp;of the New York Stock
Exchange&#146;s listing standards. The Board of Directors also
has determined that each of Messrs.&nbsp;Raymund, Lavitt and
Newman is an &#147;audit committee financial expert&#148; for
purposes of the rules adopted by the Securities and Exchange
Commission (the &#147;SEC&#148;). During fiscal year 2003, the
Audit Committee held twelve meetings.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Compensation Committee.
</FONT></I><FONT size="2">The Compensation Committee reviews and
establishes specific compensation plans, salaries, bonuses and
other benefits payable to Jabil&#146;s executive officers and
has the authority to retain outside consultants to carry out its
duties. The Compensation Committee is also generally empowered
to administer Jabil&#146;s 1992 Stock Option Plan and
Jabil&#146;s 2002 Stock Incentive Plan, each with respect to all
individuals. The members of the Compensation Committee are
currently Messrs.&nbsp;Raymund, Newman and Lavitt. During fiscal
year 2003, the Compensation Committee held five meetings.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Nominating and Corporate Governance Committee.
</FONT></I><FONT size="2">The Nominating and Corporate
Governance Committee assists the Board of Directors by
identifying individuals qualified to become members of the Board
of Directors. The Nominating and Corporate Governance Committee
recommends to the Board of Directors the selection of director
nominees for the annual meeting of stockholders. The Nominating
and Corporate Governance Committee will consider nominees
recommended by security holders which are submitted and received
by Jabil at our principal executive offices located at 10560
Dr.&nbsp;Martin Luther King, Jr. Street North, St. Petersburg,
Florida 33716, Attention: Secretary, no later than
August&nbsp;4, 2004 in accordance with the requirements
described under &#147;Deadline for Receipt of Stockholder
Proposals.&#148; The Nominating and Corporate Governance
Committee also develops and recommends to the Board of Directors
a set of corporate governance principles applicable to Jabil.
The members of the Nominating and Corporate Governance Committee
are currently Messrs.&nbsp;Grafstein, Lavitt, Raymund and
Newman. During fiscal year 2003, he Nominating and Corporate
Governance Committee held six meetings.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Committee that administers stock option plans
for non-officers and non-directors.</FONT></I><FONT size="2">
The committee that administers stock option plans for
non-officers and non-directors administers Jabil&#146;s 1992
Stock Option Plan and Jabil&#146;s 2002 Stock Incentive Plan
with respect to individuals who are neither directors nor
officers of Jabil and currently consists of Messrs.&nbsp;Morean
and Main. During fiscal year 2003, this committee held six
meetings.
</FONT>

<!-- link1 "CORPORATE GOVERNANCE" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center">
<B><FONT size="2">CORPORATE GOVERNANCE</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each member of the Audit Committee, the
Compensation Committee and the Nominating and Corporate
Governance Committee is independent as defined in the existing
and recently approved listing standards of the NYSE, as well as
recent and proposed statutory, regulatory and other requirements
applicable to Jabil.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In anticipation of existing and proposed
statutory, regulatory and listing requirements applicable to
Jabil, Jabil&#146;s Board of Directors has adopted a written
charter for each of the Audit Committee, the Compensation
Committee and the Nominating and Corporate Governance Committee.
Each such charter provides that the
</FONT>

<P align="center"><FONT size="2">6
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">respective committee has the authority to obtain
advice and independently seek assistance from outside advisors.
The Audit Committee is evaluating certain potential changes to
the current Audit Committee Charter in order to ensure early or
timely compliance with recent and proposed statutory,
regulatory, listing and other requirements applicable to Jabil
and anticipates that its new charter will provide for the annual
evaluation of the Audit Committee&#146;s performance. A copy of
the Audit Committee Charter was attached as Exhibit&nbsp;A to
the Proxy Statement relating to the 2001 Annual Meeting of
Stockholders.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil maintains a corporate governance page on
its Web site which includes key information about its corporate
governance initiatives, including the charters for the Audit
Committee, Compensation Committee and Nominating and Corporate
Governance Committee as well as Jabil&#146;s Corporate
Governance Guidelines. The corporate governance page can be
found at <I>http://www.jabil.com</I> by clicking on
&#147;Investors,&#148; then &#147;Corporate Governance at
Jabil.&#148;
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil&#146;s policies and practices generally
reflect corporate governance initiatives that are compliant with
existing standards of the NYSE and the corporate governance
requirements of the Sarbanes-Oxley Act of 2002, including:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The independent members of the Board meet
    regularly without the presence of management;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The Audit Committee, the Compensation Committee
    and the Nominating and Corporate Governance Committee each
    operate under charters that clearly establish their respective
    roles and responsibilities;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">All members of the Audit Committee, the
    Compensation Committee and the Nominating and Corporate
    Governance Committee meet the appropriate tests for independence;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Each member of the Audit Committee is an
    &#147;audit committee financial expert&#148;;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The Audit Committee meets with management and the
    auditors to receive information concerning the design and
    operation of internal controls;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">KPMG LLP, our independent auditors, report
    directly to the Audit Committee;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Jabil&#146;s internal audit group reports
    periodically throughout the year directly to the Audit Committee;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Upon the recommendation of the Audit Committee,
    the Board adopted a code of ethics for the principal executive
    officer and senior financial officers and an ethics and
    integrity reporting policy to allow for confidential and
    anonymous reporting to the Audit Committee; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The Board adopted and operates under a set of
    corporate governance guidelines.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Compensation of Directors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During the 2003 fiscal year, non-employee
directors received the following annual compensation, payable
quarterly: $30,000 for serving as a member of the Board of
Directors; $10,000 for serving as a non-chair member of the
Audit Committee; $20,000 for serving as chair of the Audit
Committee; $5,000 for serving as a non-chair member of the
Compensation Committee or the Nominating and Corporate
Governance Committee; and $10,000 for serving as the chair of
Compensation Committee or the Nominating and Corporate
Governance Committee. No director currently receives any
additional cash compensation for attendance at Board or
committee meetings. Directors are entitled to reimbursement for
expenses incurred in connection with their attendance at Board
and committee meetings. In addition, non-employee directors are
also eligible to receive stock option grants pursuant to
Jabil&#146;s 2002 Stock Incentive Plan. See &#147;Certain
Transactions&#148; for information regarding compensation
payable to Mr.&nbsp;Murphy for certain consulting services.
</FONT>

<P align="center"><FONT size="2">7
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "PROPOSAL NO. 2 APPROVAL OF AMENDMENTS TO THE JABIL CIRCUIT, INC. 2002 STOCK INCENTIVE PLAN" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="center">
<B><FONT size="2">PROPOSAL NO. 2</FONT></B>

<P align="center">
<B><FONT size="2">APPROVAL OF AMENDMENTS TO THE JABIL CIRCUIT,
INC.</FONT></B>

<DIV align="center">
<B><FONT size="2">2002 STOCK INCENTIVE PLAN</FONT></B>
</DIV>

<P align="left">
<B><FONT size="2">General</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Jabil 2002 Stock Incentive Plan (the
&#147;Incentive Plan&#148;) was adopted by the Board of
Directors in October 2001 and approved by the stockholders in
January 2002. The Incentive Plan provides for the granting of
both Section&nbsp;422 Internal Revenue Code and non-statutory
stock options, as well as restricted stock and other stock-based
awards. The Incentive Plan originally had a total of
9,608,726&nbsp;shares reserved for grant, including
2,608,726&nbsp;shares that were transferred from the Jabil 1992
Stock Option Plan when it was terminated in October 2001. Jabil
also adopted sub-plans under the Incentive Plan for its United
Kingdom employees (&#147;the CSOP Plan&#148;) and for its French
employees (&#147;the FSOP Plan&#148;). The CSOP Plan and FSOP
Plan are tax advantaged plans for Jabil&#146;s United Kingdom
and French employees, respectively. Shares are issued under the
CSOP Plan and FSOP Plan from the authorized shares under the
Incentive Plan. All outstanding awards issued under the
Incentive Plan vest at a rate of 12% after the first six months
and 2% per month thereafter, becoming fully vested after a
50&nbsp;month period. As of the date of the approval by the
Board of Directors of the Share Increase Amendment,
November&nbsp;14, 2003, awards to purchase a total of
7,995,944&nbsp;shares were outstanding under the Incentive Plan
(including the CSOP Plan and FSOP Plan), and
1,512,705&nbsp;shares remained available for future grants
thereunder. Jabil also has other compensation plans outstanding.
See Equity Compensation Plan Information.
</FONT>

<P align="left">
<B><FONT size="2">Proposal</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors recently adopted
amendments to the Incentive Plan, subject to stockholder
approval. The amendments to the Incentive Plan (i)&nbsp;provide
for an increase in the aggregate number of shares of Jabil
common stock that may be subject to future awards under the
Incentive Plan as of November&nbsp;14, 2003 from
1,512,705&nbsp;shares to 11,512,705&nbsp;shares (the &#147;Share
Increase Amendment&#148;), (ii)&nbsp;prohibit the repricing of
outstanding stock options granted pursuant to the Incentive Plan
(the &#147;Repricing Prohibition Amendment&#148;), and
(iii)&nbsp;require stockholder approval for certain amendments
to the Incentive Plan (the &#147;Stockholder Approval
Amendment&#148;). As of the date of the approval by the Board of
Directors of the Share Increase Amendment, November&nbsp;14,
2003, awards to purchase a total of 7,995,944&nbsp;shares were
outstanding under the Incentive Plan, CSOP Plan and FSOP Plan,
and 1,512,705&nbsp;shares remained available for future grants.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The Share Increase
Amendment.</FONT></B><FONT size="2"> The Share Increase
Amendment is proposed in order to give the Board of Directors
flexibility to grant stock options and other stock-based awards
under the Incentive Plan. Jabil believes that grants of stock
options and other stock-based awards motivate high levels of
performance and provide an effective means of recognizing
employee contributions to the success of Jabil. Moreover, option
and other stock-based award grants align the interests of the
employees with the interests of the stockholders. When Jabil
performs well, employees are rewarded along with other
stockholders. Jabil believes that option and other stock-based
award grants are of great value in recruiting and retaining
highly qualified technical and other key personnel who are in
great demand. The Board of Directors believes that the ability
to grant options and other stock-based awards will be important
to Jabil&#146;s future success by allowing it to remain
competitive in attracting and retaining such key personnel.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The Repricing Prohibition
Amendment.</FONT></B><FONT size="2"> The Repricing Prohibition
Amendment is proposed in order to prohibit the modification or
amendment of any outstanding stock options granted under the
Incentive Plan so as to specify a lower exercise price, or the
acceptance of the surrender of an outstanding stock option and
authorization of the granting of a new stock option with a lower
exercise price in substitution for the surrendered stock option.
Even though the existing provisions of the Incentive Plan do not
explicitly prohibit repricing of outstanding stock options,
Jabil has never reduced the exercise price of outstanding stock
options. Jabil believes that the Incentive Plan should contain
an express provision prohibiting the repricing or the
cancellation and reissuance of outstanding stock options.
</FONT>

<P align="center"><FONT size="2">8
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The Stockholder Approval Amendment.
</FONT></B><FONT size="2">The Stockholder Approval Amendment is
proposed in order to require stockholder approval of any
Incentive Plan modification or amendment to the extent that the
Board of Directors, in its sole and absolute discretion,
reasonably determines, in accordance with the requirements of
any exchange or quotation system on which the common stock is
listed or quoted, that such modification or amendment
constitutes a material revision or material amendment of the
Incentive Plan.
</FONT>

<P align="left">
<B><FONT size="2">Recommendation of the Board of
Directors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board believes that it is in the best
interests of Jabil to continue to provide employees with the
opportunity to acquire an ownership interest in Jabil through
their participation in the Incentive Plan and thereby encourage
them to remain in Jabil&#146;s employ and more closely align
their interests with those of the stockholders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
A VOTE &#147;FOR&#148; THIS PROPOSAL.</FONT></B>

<P align="left">
<B><FONT size="2">Summary of the Incentive Plan, as Amended,
Subject to Stockholder Approval</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following summary of the Incentive Plan is
qualified in its entirety by the terms of the Incentive Plan, a
copy of which reflecting the amendments referenced herein is
attached to this proxy as Appendix&nbsp;A.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Purpose.</FONT></I><FONT size="2"> The
purposes of the Incentive Plan are to attract and retain the
best available personnel for positions of substantial
responsibility, to provide additional incentive to employees and
consultants of Jabil and to promote the success of Jabil&#146;s
business.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Awards.</FONT></I><FONT size="2"> The
Incentive Plan provides for awards of incentive stock options,
nonstatutory stock options, stock awards, performance units,
performance shares and stock appreciation rights. The Board may
adopt sub-plans applicable to particular Subsidiaries. With
limited exceptions, the rules of such sub-plans may take
precedence over other provisions of the Incentive Plan. The
ability to adopt such sub-plans will facilitate Jabil&#146;s
global expansion.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Stock Subject to the Incentive
Plan.</FONT></I><FONT size="2"> The aggregate number of shares
of common stock that may be subject to future awards under the
Incentive Plan as of November&nbsp;14, 2003, subject to
adjustment upon a change in capitalization, is
11,512,705&nbsp;shares. Such shares of common stock may be
authorized, but unissued, or reacquired shares of common stock.
Shares of common stock that were subject to Incentive Plan
awards that expire or become unexercisable without having been
exercised in full and shares of common stock that are delivered
to or withheld by Jabil as payment for all or any portion of the
exercise price of an award or the withholding of taxes shall
become available for future awards under the Incentive Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Administration.</FONT></I><FONT size="2"> The
Incentive Plan may be administered by the Board of Directors or
one or more committees of the Board (the
&#147;Administrator&#148;). The Board may require that the
Administrator be constituted to comply with Rule&nbsp;16b-3 of
the Securities Exchange Act of 1934, as amended (the
&#147;Exchange Act&#148;), Section&nbsp;162(m) of the Code, or
both. Subject to the other provisions of the Incentive Plan, the
Administrator has the power to determine the terms of each award
granted, including the exercise price, the number of shares
subject to the award and the exercisability thereof. The
Administrator may not modify or amend any outstanding stock
option so as to specify a lower exercise price or accept the
surrender of an outstanding stock option and authorize the
granting of a new stock option with a lower exercise price in
substitution for the surrendered stock option. In accordance
with applicable law, the Board may, by a resolution adopted by
the Board, authorize one or more officers of Jabil to designate
officers (other than the officer so authorized) and employees of
Jabil to be recipients of stock options and determine the number
of stock options to be granted. Such a Board resolution must
specify the total number and the terms, including exercise
price, of the stock options that an officer or officers of Jabil
may grant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Eligibility.</FONT></I><FONT size="2"> The
Incentive Plan provides that the Administrator may grant awards
to employees and consultants, including non-employee directors.
The Administrator may grant incentive stock options only to
employees. A grantee who has received a grant of an award may,
if he is otherwise eligible, receive additional award grants.
The Administrator selects the grantees and determines the number
of shares of common stock
</FONT>

<P align="center"><FONT size="2">9
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">to be subject to each award. In making such
determination, the Administrator shall take into account the
duties and responsibilities of the employee or consultant, the
value of his services, his potential contribution to the success
of Jabil, the anticipated number of years of future service and
other relevant factors. The Administrator shall not grant to any
employee, in any fiscal year of Jabil, stock options to purchase
more than 3,000,000&nbsp;shares of common stock.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Maximum Term and General Terms and Conditions
of Awards.</FONT></I><FONT size="2"> With respect to any grantee
who owns stock possessing 10% or more of the voting power of all
classes of stock of Jabil (a &#147;10% Stockholder&#148;), the
maximum term of any incentive stock option granted to such
optionee must not exceed five years. The term of all other
options granted under the Incentive Plan may not exceed ten
years.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Each award granted under the Incentive Plan is
evidenced by a written agreement between the grantee and Jabil
and is subject to the following general terms and conditions:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;<I>Termination of Employment.</I> If a
    grantee&#146;s continuous status as an employee or consultant
    terminates for any reason (other than upon the grantee&#146;s
    death or disability), the grantee may exercise his unexercised
    option or stock appreciation right, but only within such period
    of time as is determined by the Administrator (with such
    determination being made at the time of grant and not exceeding
    3&nbsp;months in the case of an incentive stock option) and only
    to the extent that the grantee was entitled to exercise it at
    the date of such termination (but in no event may the option or
    stock appreciation right be exercised later than the expiration
    of the term of such award as set forth in the award agreement).
    A grantee&#146;s stock award shall be forfeited, to the extent
    it is forfeitable immediately before the date of such
    termination, or settled by delivery of the appropriate number of
    unrestricted shares, to the extent it is nonforfeitable. A
    grantee&#146;s performance shares or performance units with
    respect to which the performance period has not ended as of the
    date of such termination shall terminate.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;<I>Disability.</I> If a grantee&#146;s
    continuous status as an employee or consultant terminates as a
    result of permanent and total disability (as defined in
    Section&nbsp;22(e)(3) of the Code), the grantee may exercise his
    unexercised option or stock appreciation right, but only within
    12&nbsp;months from the date of such termination, and only to
    the extent that the optionee was entitled to exercise it at the
    date of such termination (but in no event may the option or
    stock appreciation right be exercised later than the expiration
    of the term of such award as set forth in the award agreement).
    A grantee&#146;s stock award shall be forfeited, to the extent
    it is forfeitable immediately before the date of such
    termination, or settled by delivery of the appropriate number of
    unrestricted shares, to the extent it is nonforfeitable. A
    grantee&#146;s performance shares or performance units with
    respect to which the performance period has not ended as of the
    date of such termination shall terminate.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(c)&nbsp;<I>Death.</I> In the event of a
    grantee&#146;s death, the grantee&#146;s estate or a person who
    acquired the right to exercise the deceased grantee&#146;s
    option or stock appreciation right by bequest or inheritance may
    exercise the option or stock appreciation right, but only within
    12&nbsp;months following the date of death, and only to the
    extent that the grantee was entitled to exercise it at the date
    of death (but in no event may the option or stock appreciation
    right be exercised later than the expiration of the term of such
    award as set forth in the award agreement). A grantee&#146;s
    stock award shall be forfeited, to the extent it is forfeitable
    immediately before the date of such termination, or settled by
    delivery of the appropriate number of unrestricted shares, to
    the extent it is nonforfeitable. A grantee&#146;s performance
    shares or performance units with respect to which the
    performance period has not ended as of the date of such
    termination shall terminate.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(d)&nbsp;<I>Nontransferability of Awards.</I>
    Except as described below, an award granted under the Incentive
    Plan is not transferable by the grantee, other than by will or
    the laws of descent and distribution, and is exercisable during
    the grantee&#146;s lifetime only by the grantee. In the event of
    the grantee&#146;s death, an option or stock appreciation right
    may be exercised by a person who acquires the right to exercise
    the award by bequest or inheritance. To the extent and in the
    manner permitted by applicable law and the Administrator, a
    grantee may transfer an award to certain family members and
    other individuals and entities.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">10
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Terms and Conditions of
Options.</FONT></I><FONT size="2"> Each option granted under the
Incentive Plan is subject to the following terms and conditions:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;<I>Exercise Price.</I> The Administrator
    determines the exercise price of options to purchase shares of
    common stock at the time the options are granted. As a general
    rule, the exercise price of an option must be no less than 100%
    (110% for an incentive stock option granted to a 10%
    Stockholder) of the fair market value of the common stock on the
    date the option is granted. This general rule is different than
    the exercise price provision of the 1992 Stock Option Plan,
    which does not place such a restriction on the exercise price of
    a nonstatutory stock option. The Incentive Plan provides
    exceptions for certain options granted in connection with an
    acquisition by Jabil of another corporation or granted as
    inducements to an individual&#146;s commencing employment with
    Jabil. For so long as Jabil&#146;s common stock is traded on the
    NYSE, the fair market value of a share of common stock shall be
    the closing sales price for such stock (or the closing bid if no
    sales were reported) as quoted on such system on the last market
    trading day prior to the date of determination of such fair
    market value.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;<I>Exercise of the Option.</I> Each
    award agreement specifies the term of the option and the date
    when the option is to become exercisable. The terms of such
    vesting are determined by the Administrator. An option is
    exercised by giving written notice of exercise to Jabil,
    specifying the number of full shares of common stock to be
    purchased and by tendering full payment of the purchase price to
    Jabil.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(c)&nbsp;<I>Form of Consideration.</I> The
    consideration to be paid for the shares of common stock issued
    upon exercise of an option is determined by the Administrator
    and set forth in the award agreement. Such form of consideration
    may vary for each option, and may consist entirely of cash,
    check, promissory note, other shares of the Jabil&#146;s common
    stock, any combination thereof, or any other legally permissible
    form of consideration as may be provided in the Incentive Plan
    and the award agreement.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(d)&nbsp;<I>Value Limitation.</I> If the
    aggregate fair market value of all shares of common stock
    subject to a grantee&#146;s incentive stock option which are
    exercisable for the first time during any calendar year exceeds
    $100,000, the excess options shall be treated as nonstatutory
    options.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(e)&nbsp;<I>Other Provisions.</I> The award
    agreement may contain such other terms, provisions and
    conditions not inconsistent with the Incentive Plan as may be
    determined by the Administrator. Shares of common stock covered
    by options which have terminated and which were not exercised
    prior to termination will be returned to the Incentive Plan.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Stock Appreciation
Rights.</FONT></I><FONT size="2"> The Administrator may grant
stock appreciation rights in tandem with an option or alone and
unrelated to an option. Tandem stock appreciation rights shall
expire no later than the expiration of the related option. Stock
appreciation rights may be exercised by the delivery to Jabil of
a written notice of exercise. The exercise of a stock
appreciation right will entitle the grantee to receive the
excess of the percentage stated in the award agreement of the
fair market value of a share of common stock over the exercise
price for each share of common stock with respect to which the
stock appreciation right is exercised. Payment upon exercise of
a stock appreciation right may be in cash, shares of common
stock or a combination of cash and shares of common stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Stock Awards.</FONT></I><FONT size="2"> The
Administrator may grant awards of shares of common stock in such
amount and upon such terms and conditions as the Administrator
specifies in the award agreement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Performance Units and Performance
Shares.</FONT></I><FONT size="2"> The Administrator may grant
awards of performance units and performance shares in such
amounts and upon such terms and conditions, including the
performance goals and the performance period, as the
Administrator specifies in the award agreement. The
Administrator will establish an initial value for each
performance unit on the date of grant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The initial value of a performance share will be
the fair market value of a share of common stock on the date of
grant. Payment of earned performance units or performance shares
will be occur following the close of the applicable performance
period and in the form of cash, shares of common stock or a
combination of cash and shares of common stock.
</FONT>

<P align="center"><FONT size="2">11
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Adjustment upon Changes in
Capitalization.</FONT></I><FONT size="2"> In the event of
changes in the outstanding stock of Jabil by reason of any stock
splits, reverse stock splits, stock dividends, mergers,
recapitalizations or other change in the capital structure of
Jabil, an appropriate adjustment shall be made by the Board of
Directors in: (i)&nbsp;the number of shares of common stock
subject to the Incentive Plan, (ii)&nbsp;the number and class of
shares of common stock subject to any award outstanding under
the Incentive Plan, and (iii)&nbsp;the exercise price of any
such outstanding award. The determination of the Board of
Directors as to which adjustments shall be made shall be
conclusive.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Change in Control.</FONT></I><FONT size="2">
In the event of a change in control of Jabil, any award
outstanding on the date of such change in control that is not
yet vested shall become fully vested on the earlier of
(i)&nbsp;the first anniversary of the date of such change in
control, if the grantee&#146;s continuous status as an employee
or consultant of Jabil does not terminate prior to such
anniversary, or (ii)&nbsp;the date of termination of the
grantee&#146;s continuous status as an employee or consultant of
Jabil as a result of termination by Jabil or its successor
without cause or resignation by the grantee for good reason.
However, an award will not become fully vested due to a change
in control if the grantee&#146;s continuous status as an
employee or consultant terminates as a result of termination by
Jabil or its successor for cause or resignation by the grantee
without good reason.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In the event of a proposed dissolution or
liquidation of Jabil, all outstanding awards will terminate
immediately before the consummation of such proposed action. The
Board may, in the exercise of its sole discretion in such
instances, declare that any option or stock appreciation right
shall terminate as of a date fixed by the Board and give each
grantee the right to exercise his option or stock appreciation
right as to all or any part of the stock covered by such award,
including shares as to which the option or stock appreciation
right would not otherwise be exercisable.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In the event of a merger of Jabil with or into
another corporation, the sale of substantially all of the assets
of Jabil or the acquisition by any person, other than Jabil, of
50% or more of Jabil&#146;s then outstanding securities, each
outstanding option and stock appreciation right shall be assumed
or an equivalent option and stock appreciation right shall be
substituted by the successor corporation; provided, however, if
such successor or purchaser refuses to assume the then
outstanding options or stock appreciation rights, the Incentive
Plan provides for the acceleration of the exercisability of all
or some outstanding options and stock appreciation rights.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Amendment and Termination of the Incentive
Plan.</FONT></I><FONT size="2"> The Board may at anytime amend,
alter, suspend or terminate the Incentive Plan. Jabil shall
obtain stockholder approval of any amendment to the Incentive
Plan in such a manner and to such a degree as is necessary and
desirable to comply with Rule&nbsp;16b-3 of the Exchange Act or
Section&nbsp;422 of the Code (or any other applicable law or
regulation, including the requirements of any exchange or
quotation system on which the common stock is listed or quoted).
Furthermore, Jabil shall obtain stockholder approval of any
modification or amendment to the extent that the Board of
Directors, in its sole and absolute discretion, reasonably
determines, in accordance with the requirements of any exchange
or quotation system on which the common stock is listed or
quoted, that such modification or amendment constitutes a
material revision or material amendment of the Incentive Plan.
No amendment or termination of the Incentive Plan shall impair
the rights of any grantee, unless mutually agreed otherwise
between the grantee and Jabil, which agreement must be in
writing and signed by the grantee and Jabil. In any event, the
Incentive Plan shall terminate on October&nbsp;17, 2011. Any
awards outstanding under the Incentive Plan at the time of its
termination shall remain outstanding until they expire by their
terms.
</FONT>

<P align="left">
<B><FONT size="2">Federal Tax Information</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Pursuant to the Incentive Plan, Jabil may grant
either &#147;incentive stock options,&#148; as defined in
Section&nbsp;422 of the Code, nonstatutory options, stock
appreciation rights, stock awards, performance units or
performance shares.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">An optionee who receives an incentive stock
option grant will not recognize any taxable income either at the
time of grant or exercise of the option, although the exercise
may subject the optionee to the alternative minimum tax.
</FONT>

<P align="center"><FONT size="2">12
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Upon the sale or other disposition of the shares
more than two years after the grant of the option and one year
after the exercise of the option, any gain or loss will be
treated as a long-term or short-term capital gain or loss,
depending upon the holding period. If these holding periods are
not satisfied, the optionee will recognize ordinary income at
the time of sale or disposition equal to the difference between
the exercise price and the lower of (a)&nbsp;the fair market of
the shares at the date of the option exercise or (b)&nbsp;the
sale price of the shares. Jabil will be entitled to a deduction
in the same amount as the ordinary income recognized by the
optionee. Any gain or loss recognized on such a premature
disposition of the shares in excess of the amount treated as
ordinary income will be characterized as long-term or short-term
capital gain or loss, depending on the holding period.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All options that do not qualify as incentive
stock options are referred to as nonstatutory options. An
optionee will not recognize any taxable income at the time he or
she receives a nonstatutory option grant. However, upon exercise
of the nonstatutory option, the optionee will recognize ordinary
taxable income generally measured as the excess of the fair
market value of the shares purchased on the date of exercise
over the purchase price. Any taxable income recognized in
connection with an option exercise by an optionee who is also an
employee of Jabil will be subject to tax withholding by Jabil.
Upon the sale of such shares by the optionee, any difference
between the sale price and the fair market value of the shares
on the date of exercise of the option will be treated as
long-term or short-term capital gain or loss, depending on the
holding period. Jabil will be entitled to a tax deduction in the
same amount as the ordinary income recognized by the optionee
with respect to shares acquired upon exercise of a nonstatutory
option.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">With respect to stock awards, stock appreciation
rights, performance units and performance shares that may be
settled either in cash or in shares of common stock that are
either transferable or not subject to a substantial risk of
forfeiture under Section&nbsp;83 of the Code, the grantee will
realize ordinary taxable income, subject to tax withholding,
equal to the amount of the cash or the fair market value of the
shares of common stock received. Jabil will be entitled to a
deduction in the same amount and at the same time as the
compensation income is received by the participant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">With respect to shares of common stock that are
both nontransferable and subject to a substantial risk of
forfeiture the participant will realize ordinary taxable income
equal to the fair market value of the shares of common stock at
the first time the shares of common stock are either
transferable or not subject to a substantial risk of forfeiture.
Jabil will be entitled to a deduction in the same amount and at
the same time as the ordinary taxable income realized by the
grantee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The foregoing is only a summary of the effect of
federal income taxation upon the grantee and Jabil with respect
to the grant and exercise of awards under the Incentive Plan,
does not purport to be complete, and does not discuss the tax
consequences of the grantee&#146;s death or the income tax laws
of any municipality, state or foreign country in which a grantee
may reside.
</FONT>

<P align="center"><FONT size="2">13
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B><FONT size="2">Equity Compensation Plan Information</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth certain
information relating to our equity compensation plans as of
August&nbsp;31, 2003:
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="33%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Number of Securities</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Number of Securities to</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Weighted-Average</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Remaining Available</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">be Issued Upon Exercise</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise Price of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">for Future Issuance</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">of Outstanding Options,</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Outstanding Options,</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Under Equity</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Plan Category</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Warrants and Rights</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Warrants and Rights</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation Plans</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <I><FONT size="2">Equity compensation plans approved by security
    holders:</FONT></I></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">1992 Stock Option Plan
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">11,200,120</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">16.98</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">1992 Employee Stock Purchase Plan
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">NA</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">NA</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">2002 Stock Option Plan
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">3,841,748</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">13.09</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">4,920,044</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">2002 CSOP Plan
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">179,010</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">12.95</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">425,340</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">2002 FSOP Plan
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">36,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">16.65</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">163,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">2002 Employee Stock Purchase Plan
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">NA</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">NA</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,430,828</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <I><FONT size="2">Equity compensation plans not approved by
    security holders:</FONT></I></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">2001 Stock Award Plan
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">NA</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">NA</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">88,350</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">15,257,378</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">7,028,062</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In February 2001, we adopted a Stock Award Plan,
which was not required to be approved by our stockholders. The
purpose of the Stock Award Plan is to provide incentives to
attract and retain key employees, motivate such persons to stay
with us and to increase their efforts to make our business more
successful. A total of 100,000&nbsp;shares of common stock have
been reserved for issuance under the Stock Award Plan. As of
August&nbsp;31, 2003, 11,650&nbsp;shares have been issued to
employees under the Stock Award Plan, of which 5,000&nbsp;shares
have lapsed, leaving 88,350 available for future grants.
</FONT>

<P align="center"><FONT size="2">14
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "PROPOSAL NO. 3 RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="center">
<B><FONT size="2">PROPOSAL NO. 3</FONT></B>

<P align="center">
<B><FONT size="2">RATIFICATION OF APPOINTMENT OF INDEPENDENT
AUDITORS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee of the Board of Directors has
selected KPMG LLP to audit the financial statements of Jabil for
the fiscal year ending August&nbsp;31, 2004 and to perform other
appropriate services. KPMG LLP (or its predecessor firm) has
audited Jabil&#146;s financial statements since the fiscal year
ended August&nbsp;31, 1984. A representative of KPMG LLP is
expected to be present at the Annual Meeting, will have the
opportunity to make a statement and is expected to be available
to respond to appropriate questions.
</FONT>

<!-- link1 "AUDIT COMMITTEE REPORT" -->
<DIV align="left"><A NAME="006"></A></DIV>

<P align="center">
<B><FONT size="2">AUDIT COMMITTEE REPORT</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil&#146;s Audit Committee serves to assist the
Board in fulfilling the oversight responsibilities it has under
the law with respect to financial reports and other financial
information provided by Jabil to the public, Jabil&#146;s
systems of internal controls regarding finance and accounting
that management and the Board have established and Jabil&#146;s
auditing, accounting and financial reporting processes generally.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee is comprised solely of
independent directors, as defined in the existing and proposed
more stringent listing standards of the New York Stock Exchange,
as well as recent and proposed statutory, regulatory and other
requirements applicable to Jabil.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee operates under a written
charter adopted by the Board, a copy of which was attached as
Exhibit&nbsp;A to the Proxy Statement relating to the 2001
Annual Meeting of Stockholders. The Audit Committee annually
reviews and assesses the adequacy of its charter and has found
its current charter to be adequate. However, the Audit Committee
is evaluating certain potential proactive changes to the Audit
Committee Charter in order to insure early or timely compliance
with the recent and proposed statutory, regulatory, listing and
other requirements applicable to Jabil.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil&#146;s management has primary
responsibility for the preparation, presentation and integrity
of Jabil&#146;s financial statements and its financial reporting
process. Jabil&#146;s independent auditing firm, KPMG LLP, is
responsible for expressing an opinion on the conformity of
Jabil&#146;s audited financial statements to generally accepted
accounting principles. The Audit Committee members are not
professional accountants or auditors and their functions are not
intended to duplicate or to certify the activities of management
and the independent auditor.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee and the Board have ultimate
authority and responsibility to select, evaluate and, when
appropriate, replace the independent auditor. The Audit
Committee also has periodic discussions with management and the
independent auditor with regard to the quality and adequacy of
Jabil&#146;s internal controls. Management&#146;s and the
independent auditor&#146;s presentations to, and discussions
with, the Audit Committee also cover various topics and events
that may have significant financial impact or are the subject of
discussions between management and the independent auditor.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In this context, the Audit Committee reports as
follows:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit
    Committee has reviewed and discussed the audited financial
    statements with Jabil&#146;s management and KPMG LLP.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit
    Committee has discussed with KPMG LLP the matters required to be
    discussed by SAS&nbsp;61 (Codification of Statements on Auditing
    Standards, AU&nbsp;&#167;&nbsp;380).
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit
    Committee has received and reviewed the written disclosures and
    the letter from KPMG LLP required by Independence Standards
    Board Standard No.&nbsp;1 (Independence Standards Board
    Standards No.&nbsp;1, Independence Discussions with Audit
    Committees) and has discussed with KPMG LLP its independence
    from Jabil.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the
    review and discussion referred to in paragraphs&nbsp;(1) through
    (3) above, the Audit Committee recommended to Jabil&#146;s
    Board, and the Board has approved, that the audited financial
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">15
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">statements be included in Jabil&#146;s Annual
    Report on Form&nbsp;10-K for the fiscal year ended
    August&nbsp;31, 2003, for filing with the Securities and
    Exchange Commission.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Submitted by the Audit Committee
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Mel S. Lavitt
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Steven A. Raymund
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Frank A. Newman
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">The information contained in the above Audit
Committee Report shall not be deemed &#147;soliciting
material&#148; or &#147;filed&#148; with the SEC, or subject to
the liabilities of Section&nbsp;18 of the Securities Exchange
Act or 1934, except to the extent that we specifically
incorporate it by reference into such filings.</FONT></I>

<P align="left">
<B><FONT size="2">Principal Accounting Fees and
Services</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table presents fees for
professional audit services rendered by KPMG LLP for the audit
of Jabil&#146;s annual financial statements for the fiscal years
ended August&nbsp;31, 2003 and August&nbsp;31, 2002, and fees
billed for other services rendered by KPMG LLP during those
periods. Certain amounts for 2002 have been reclassified to
conform to the 2003 presentation:
</FONT>

<CENTER>
<TABLE width="90%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="60%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Fee Category</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal 2003 Fees</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal 2002 Fees</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Audit Fees
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,919,351</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,200,268</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Audit-Related Fees
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">85,593</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">710,787</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Tax Fees
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">984,506</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">621,768</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">All Other Fees
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total Fees
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,989,450</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,532,823</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><HR size="4" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Audit Fees. </FONT></I><FONT size="2">Consists
of fees billed for professional services rendered for the audit
of Jabil&#146;s consolidated financial statements and review of
the interim financial statements included in quarterly reports
and services that are normally provided by KPMG LLP in
connection with statutory and regulatory filings or engagements.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Audit-Related Fees.
</FONT></I><FONT size="2">Consists of fees billed for assurance
and related services that are reasonably related to the
performance of the audit or review of Jabil&#146;s financial
statements and are not reported under &#147;Audit Fees.&#148;
These services include audits of financial statements of
employee benefit plans, accounting consultations related to
acquisitions, attest services that are not required by statute
or regulation and consultations regarding financial accounting
and reporting standards.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Tax Fees.</FONT></I><FONT size="2"> Consists
of fees billed for professional services for tax compliance, tax
advice and tax planning. These services include assistance
regarding federal, state and international tax compliance, tax
planning (domestic and international) and expatriate tax
compliance and planning.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">All Other Fees.
</FONT></I><FONT size="2">Consists of fees for products and
services other than the services reported above.
</FONT>

<P align="left">
<B><FONT size="2">Policy on Audit Committee Pre-Approval of
Audit and Permissible Non-Audit Services of Independent
Auditors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee&#146;s policy is to
pre-approve all audit and permissible non-audit services
provided by the independent auditors in order to assure that the
provision of such services does not impair the auditor&#146;s
independence. These services may include audit services,
audit-related services, tax services and other services.
Pre-approval is generally provided for up to one year and any
pre-approval is detailed as to the particular service or
category of services and is generally subject to a specific
budget. Management is required to periodically report to the
Audit Committee regarding the extent of services provided by the
independent auditors in accordance with this pre-approval, and
the fees for the services performed to date. During fiscal year
2003, all services were pre-approved by the Audit Committee in
accordance with this policy.
</FONT>

<P align="center"><FONT size="2">16
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">
<B><FONT size="2">Recommendation of the Board of
Directors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the stockholders do not approve the selection
of KPMG LLP, the appointment of the independent auditors will be
reconsidered by the Audit Committee of the Board of Directors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS
A VOTE &#147;FOR&#148; THIS PROPOSAL.</FONT></B>

<P align="center"><FONT size="2">17
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "OTHER INFORMATION" -->
<DIV align="left"><A NAME="007"></A></DIV>

<P align="center">
<B><FONT size="2">OTHER INFORMATION</FONT></B>

<P align="left">
<B><FONT size="2">Share Ownership by Principal Stockholders and
Management</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth the beneficial
ownership of common stock of Jabil as of the Record Date by:
(i)&nbsp;each of Jabil&#146;s directors and nominees for
director; (ii)&nbsp;each of the named executive officers listed
in the Summary Compensation Table below; (iii)&nbsp;all current
directors and executive officers of Jabil as a group; and
(iv)&nbsp;each person known by Jabil to own beneficially more
than 5% of the outstanding shares of its common stock. The
number and percentage of shares beneficially owned is determined
under rules of the SEC and the information is not necessarily
indicative of beneficial ownership for any other purpose. Under
such rules, beneficial ownership includes any shares as to which
the individual has sole or shared voting power or investment
power and also any shares as to which the individual has the
right to acquire within 60&nbsp;days of the Record Date through
the exercise of any stock option or other right. Unless
otherwise indicated in the footnotes, each person has sole
voting and investment power (or shares such powers with his or
her spouse) with respect to the shares shown as beneficially
owned. A total of 199,850,431 shares of Jabil&#146;s common
stock were issued and outstanding as of the Record Date.
</FONT>

<CENTER>
<TABLE width="80%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="68%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Number of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Percent of</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Directors, Named Executive Officers and Principal Stockholders</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Shares</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Total</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Principal Stockholders:
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">William D. Morean(1)(2)(3)
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">29,543,763</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">14.8</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">c/o Jabil Circuit, Inc.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">10560 Dr.&nbsp;Martin Luther King, Jr. Street
    North
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">St. Petersburg, Florida 33716
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Audrey M. Petersen(1)(4)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">22,569,818</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">11.3</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">c/o Jabil Circuit, Inc.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">10560 Dr.&nbsp;Martin Luther King, Jr. Street
    North
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">St. Petersburg, Florida 33716
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Directors(3):
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Thomas A. Sansone(5)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5,105,024</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2.6</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Timothy L. Main(6)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">952,424</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Lawrence J. Murphy(7)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">183,780</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Mel S. Lavitt(8)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">308,980</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Steven A. Raymund(9)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">92,980</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Frank A. Newman(10)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,980</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Laurence S. Grafstein(11)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9,760</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Named Executive Officers:
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Mark T. Mondello(12)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">411,893</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris A. Lewis(13)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">252,150</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Scott D. Brown(14)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">246,756</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">William E. Peters(15)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">165,356</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">All current directors and executive officers as a
    group (18&nbsp;persons)(16)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">38,163,164</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">18.8</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">%</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="4%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">*</FONT></TD>
    <TD align="left">
    <FONT size="2">Less than one percent.
    </FONT></TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="4%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 19,239,737 shares held by the William E.
    Morean Residual Trust, as to which Mr.&nbsp;William D. Morean
    and Ms.&nbsp;Audrey M. Petersen (Mr.&nbsp;Morean&#146;s mother)
    share voting and dispositive power as members of the Management
    Committee created under the Trust.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes (i)&nbsp;9,730,600 shares held by
    Cheyenne Holdings Limited Partnership, a Nevada limited
    partnership, of which Morean Management Company is the sole
    general partner, as to which Mr.&nbsp;Morean has sole voting and
    dispositive power, (ii)&nbsp;400,000 shares held by Eagle&#146;s
    Wing Foundation, a private charitable foundation of which
    Mr.&nbsp;Morean is a director and with respect to which
    Mr.&nbsp;Morean may be deemed to have shared voting and
    dispositive power, (iii)&nbsp;16,534 shares held by the William
    D. Morean Trust, of which Mr.&nbsp;Morean is trustee, as to
    which Mr.&nbsp;Morean has sole voting and dispositive power,
    (iv)&nbsp;140,980 shares subject to options held by
    Mr.&nbsp;Morean that are exercisable within 60&nbsp;days of
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">18
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="1%"></TD>
    <TD width="4%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD align="left">
    <FONT size="2">the Record Date, and (v)&nbsp;15,912 shares
    beneficially owned by Mr.&nbsp;Morean&#146;s spouse, over which
    Mr.&nbsp;Morean disclaims beneficial ownership.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Mr.&nbsp;Morean is a Director of Jabil in
    addition to being a Principal Stockholder. Mr.&nbsp;Main is a
    Named Executive Officer in addition to being a Director.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes (i)&nbsp;3,284,671 shares held by Morean
    Limited Partnership, a North Carolina limited partnership, of
    which Morean-Petersen, Inc. is the sole general partner, as to
    which Ms.&nbsp;Petersen has shared voting and dispositive power;
    Ms.&nbsp;Petersen is the President of Morean-Petersen, Inc.,
    (ii)&nbsp;5,010&nbsp;shares held by Audrey Petersen Revocable
    Trust, of which Ms.&nbsp;Petersen is trustee, as to which
    Ms.&nbsp;Petersen has sole voting and dispositive power, and
    (iii)&nbsp;40,400 shares held by the Morean Petersen Foundation,
    Inc., a private charitable foundation of which Ms.&nbsp;Petersen
    is a director and with respect to which Ms.&nbsp;Petersen may be
    deemed to have shared voting and dispositive power.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(5)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes (i)&nbsp;4,281,600 shares held by TASAN
    Limited Partnership, a Nevada limited partnership, of which TAS
    Management, Inc. is the sole general partner, as to which
    Mr.&nbsp;Sansone has sole voting and dispositive power;
    Mr.&nbsp;Sansone is President of TAS Management, Inc.,
    (ii)&nbsp;620,250 shares held by Life&#146;s Requite, Inc., a
    private charitable foundation of which Mr.&nbsp;Sansone is a
    director and as to which Mr.&nbsp;Sansone may be deemed to have
    shared voting and dispositive power, and (iii)&nbsp;203,174
    shares subject to options held by Mr.&nbsp;Sansone that are
    exercisable within 60&nbsp;days of the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(6)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 896,056 shares subject to options held
    by Mr.&nbsp;Main that are exercisable within 60&nbsp;days of the
    Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(7)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 167,780 shares subject to options held
    by Mr.&nbsp;Murphy that are exercisable within 60&nbsp;days of
    the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(8)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes (i)&nbsp;40,980 shares subject to
    options held by Mr.&nbsp;Lavitt that are exercisable within
    60&nbsp;days of the Record Date, and (ii)&nbsp;60,000 shares
    beneficially owned by Mr.&nbsp;Lavitt&#146;s spouse, over which
    Mr.&nbsp;Lavitt disclaims beneficial ownership.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(9)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes (i)&nbsp;25,260 shares subject to
    options held by Mr.&nbsp;Raymund that are exercisable within
    60&nbsp;days of the Record Date, and (ii)&nbsp;2,000 shares
    beneficially owned by Mr.&nbsp;Raymund&#146;s spouse.
    </FONT></TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(10)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The 80,980 shares beneficially owned by
    Mr.&nbsp;Newman consists entirely of shares subject to options
    held by Mr.&nbsp;Newman that are exercisable within 60&nbsp;days
    of the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(11)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 4,760 shares subject to options held by
    Mr.&nbsp;Grafstein that are exercisable within 60&nbsp;days of
    the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(12)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 344,678 shares subject to options held
    by Mr.&nbsp;Mondello that are exercisable within 60&nbsp;days of
    the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(13)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 144,734 shares subject to options held
    by Mr.&nbsp;Lewis that are exercisable within 60&nbsp;days of
    the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(14)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes (i)&nbsp;89,496 shares held by Scott D.
    Brown Revocable Living Trust, of which Mr.&nbsp;Brown is
    trustee, as to which Mr.&nbsp;Brown has sole voting and
    dispositive power, and (ii)&nbsp;154,320 shares subject to
    options held by Mr. Brown that are exercisable within
    60&nbsp;days of the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(15)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 150,544 shares subject to options held
    by Mr.&nbsp;Peters that are exercisable within 60&nbsp;days of
    the Record Date.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(16)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes (i)&nbsp;3,040,906 shares subject to
    options held by 10 executive officers, two employee directors
    and six non-employee directors that are exercisable within
    60&nbsp;days of the Record Date, (ii)&nbsp;15,912&nbsp;shares
    beneficially owned by Mr.&nbsp;Morean&#146;s spouse, over which
    Mr.&nbsp;Morean disclaims beneficial ownership,
    (iii)&nbsp;60,000 shares beneficially owned by
    Mr.&nbsp;Lavitt&#146;s spouse, over which Mr.&nbsp;Lavitt
    disclaims beneficial ownership, and (iv)&nbsp;2,000 shares
    beneficially owned by Mr.&nbsp;Raymund&#146;s spouse.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Section&nbsp;16(a) Beneficial Ownership
Reporting Compliance</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Section&nbsp;16 (a)&nbsp;of the Exchange Act
requires Jabil&#146;s officers and directors, and persons who
own more than ten percent of a registered class of Jabil&#146;s
equity securities, to file initial reports of ownership on
Form&nbsp;3 and changes in ownership on Form&nbsp;4 or
Form&nbsp;5 with the SEC. Such officers, directors and
ten-percent stockholders are also required by SEC rules to
furnish Jabil with copies of all such forms that they file.
</FONT>

<P align="center"><FONT size="2">19
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Based solely on its review of the copies of such
forms received by Jabil from certain reporting persons, Jabil
believes that, during the fiscal year ended August&nbsp;31,
2003, all Section&nbsp;16(a) filing requirements applicable to
its officers, directors and ten percent stockholders were met
with the exception of the acquisition of 2,000 shares of Jabil
common stock by Mr.&nbsp;Raymund&#146;s spouse in one
transaction in fiscal 2003, which was reported late on
Form&nbsp;4.
</FONT>

<P align="left">
<B><FONT size="2">Compensation Committee Interlocks and Insider
Participation</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil&#146;s Compensation Committee was formed in
November 1992 and is currently composed of Messrs.&nbsp;Lavitt,
Newman and Raymund. No member of the Compensation Committee is
currently or was formerly an officer or an employee of Jabil or
its subsidiaries. There are no compensation committee interlocks
and no insider participation in compensation decisions that are
required to be reported under the rules and regulations of the
Securities Exchange Act of 1934, as amended.
</FONT>

<DIV>&nbsp;</DIV>

<!-- link1 "EXECUTIVE OFFICER COMPENSATION" -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="center">
<B><FONT size="2">EXECUTIVE OFFICER COMPENSATION</FONT></B>
</DIV>

<P align="left">
<B><FONT size="2">Summary Compensation Table</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table shows, as to (i)&nbsp;the
Chief Executive Officer, and (ii)&nbsp;each of the four other
most highly compensated executive officers (a)&nbsp;whose salary
plus bonus exceeded $100,000 during the last fiscal year, and
(b)&nbsp;who served as executive officers at fiscal year end
(collectively the &#147;Named Officers&#148;), information
concerning compensation paid for services to Jabil in all
capacities during the three fiscal years ended August&nbsp;31,
2003:
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Long Term</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation Awards</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Annual Compensation(l)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal</FONT></B></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Securities</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">All Other</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Name and Principal Position</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Year</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Salary($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Bonus($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Underlying&nbsp;Options(#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation($)(2)</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Timothy L. Main
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">736,923</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">222,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">115,600</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">17,837</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Chief Executive Officer,
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">700,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">210,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">248,900</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">22,317</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">President and Director
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">656,154</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">70,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">141,900</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">38,519</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Mark T. Mondello
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">413,462</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">127,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9,765</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Chief Operating Officer
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">275,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">110,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">101,600</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,825</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">275,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">27,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">28,300</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">19,557</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris A. Lewis
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">367,692</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">112,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">85,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,757</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Chief Financial Officer
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">280,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">112,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">96,800</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,988</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">275,616</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">28,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">23,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">17,382</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Scott D. Brown
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">367,308</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">112,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,738</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Executive Vice President
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">275,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">110,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">97,300</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,825</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">261,114</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">27,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">25,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">13,634</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="22"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">William E. Peters
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">298,077</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">90,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">7,198</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Senior Vice President,
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">273,077</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">110,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">89,600</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8,724</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Operations
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">247,308</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">25,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">19,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">13,842</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Compensation deferred at the election of
    executive is included in the year earned.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Represents payments pursuant to Jabil&#146;s
    Profit Sharing Plan. The Board of Directors determines the
    aggregate amount of payments under the plan based on quarterly
    financial results. The actual amount paid to individual
    participants is based on the participant&#146;s salary and bonus
    actually paid (not necessarily earned) during such quarter.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During the last three fiscal years, Jabil has not
provided to the Named Officers any compensation disclosable as
&#147;Other Annual Compensation&#148; (except for perquisites
that, for any Named Officer, were less than the lesser of
$50,000 or 10% of such Named Officer&#146;s total salary and
bonus), nor has it granted any restricted stock awards to Named
Officers. Jabil does not have any long-term incentive plans
within the meaning of SEC rules.
</FONT>

<P align="center"><FONT size="2">20
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">
<B><FONT size="2">Option Grants in Last Fiscal Year</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth information as to
stock options granted to all Named Officers during the fiscal
year ended August&nbsp;31, 2003. These options were granted
under our existing equity compensation plans and, unless
otherwise indicated, provide for vesting as to 12% of the
underlying common stock six months after the date of grant, then
2% per month thereafter. Options were granted at an exercise
price equal to 100% of the fair market value of our common stock
on the date of grant. The amounts under &#147;Potential
Realizable Value at Assumed Annual Rate of Stock Appreciation
for Option Term&#148; represent the hypothetical gains of the
options granted based on assumed annual compound stock
appreciation rates of 5% and 10% over their exercise price for
the full ten-year term of the options. The assumed rates of
appreciation are mandated by the rules of the Securities and
Exchange Commission and do not represent our estimate or
projection of future common stock prices.
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="32%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="15"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="15" align="center" nowrap><B><FONT size="1">Individual Grants</FONT></B></TD>
    <TD></TD>
    <TD colspan="7"></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="15" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Potential Realizable</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Percent of</FONT></B></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Value at Assumed</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Number of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Total</FONT></B></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Annual Rate of Stock</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Securities</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Options</FONT></B></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Price Appreciation for</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Underlying</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Granted to</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Option Term($)</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Options</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Employees in</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Price Per</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Expiration</FONT></B></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Granted(#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal Year</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Share</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Date</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">5%</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">10%</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Timothy L. Main
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">115,600</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2.72%</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">12.95</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">10/17/12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">941,468</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,385,864</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Mark T. Mondello
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.90%</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">12.95</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">10/17/12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">655,607</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,661,437</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris A. Lewis
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">85,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2.01%</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">12.95</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">10/17/12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">696,328</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,764,631</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Scott D. Brown
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.90%</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">12.95</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">10/17/12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">655,607</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,661,437</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">William E. Peters
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.90%</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">12.95</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">10/17/12</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">655,607</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,661,437</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<B><FONT size="2">Aggregated Option Exercises in Last Fiscal
Year and Fiscal Year End Option Values</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth certain
information concerning the exercise of options during the fiscal
year ended August&nbsp;31, 2003, and the aggregate value of
unexercised options at August&nbsp;31, 2003, for each of the
Named Officers. Jabil does not have any outstanding stock
appreciation rights.
</FONT>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="25%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Number of Securities</FONT></B></TD>
    <TD></TD>
    <TD colspan="7"></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Underlying Unexercised</FONT></B></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Value of Unexercised</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Options at</FONT></B></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">In-The-Money Options at</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Shares</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">August&nbsp;31, 2003(#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">August&nbsp;31, 2003($)(2)</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Acquired on</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Value</FONT></B></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise(#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Realized($)(1)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Unexercisable</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Unexercisable</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Timothy L. Main
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">845,378</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">306,622</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9,945,651</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">3,532,862</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Mark T. Mondello
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">328,880</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">153,720</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5,830,615</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,014,926</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris A. Lewis
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">4,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">46,780</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">129,128</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">153,864</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,501,671</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,043,017</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Scott D. Brown
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">139,676</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">149,862</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,741,002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,981,965</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">William E. Peters
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">136,812</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">144,088</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,256,078</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,928,825</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The closing price for Jabil&#146;s common stock
    as reported through the NYSE on August&nbsp;29, 2003 was $28.15.
    &#147;Value Realized&#148; is calculated on the basis of the
    difference between the option exercise price and $28.15
    multiplied by the number of shares of common stock to which the
    exercise relates.
    </FONT></TD>
</TR>

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">These values, unlike the amounts set forth in the
    column entitled &#147;Value Realized,&#148; have not been, and
    may never be, realized and are based on the positive spread
    between the respective exercise prices of outstanding options
    and the closing price of Jabil&#146;s common stock on
    August&nbsp;29, 2003, the last day of trading for fiscal 2003.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Change in Control Arrangements</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All options issued under Jabil&#146;s 1992 Stock
Option Plan and the Incentive Plan provide that, in the event of
a change in control of Jabil, any award outstanding under the
Incentive Plan on the date of such change in control that is not
yet vested will become fully vested on the earlier of
(i)&nbsp;the first anniversary of the date of such change in
control, if the grantee&#146;s continuous status as an employee
or consultant of Jabil does not terminate prior to such
anniversary, or (ii)&nbsp;the date of termination of the
grantee&#146;s continuous status as an
</FONT>

<P align="center"><FONT size="2">21
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">employee or consultant of Jabil as a result of
termination by Jabil or its successor without cause or
resignation by the grantee for good reason. However, an award
will not become fully vested due to a change in control if the
grantee&#146;s continuous status as an employee or consultant
terminates as a result of termination by Jabil or its successor
for cause or resignation by the grantee without good reason.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Incentive Plan and the 1992 Plan provide
that, in the event of a proposed dissolution or liquidation of
Jabil, all outstanding awards will terminate immediately before
the consummation of such proposed action. The Board may, in the
exercise of its sole discretion in such instances, declare that
any option awarded under the Incentive Plan or 1992 Plan, or
stock appreciation right awarded under the Incentive Plan, will
terminate as of a date fixed by the Board and give each grantee
the right to exercise his option or stock appreciation right as
to all or any part of the stock covered by such award, including
shares as to which the option or stock appreciation right would
not otherwise be exercisable.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In the event of a merger of Jabil with or into
another corporation, or the sale of substantially all of the
assets of Jabil, each outstanding option awarded under the
Incentive Plan and 1992 Plan, and each stock appreciation right
awarded under the Incentive Plan, will be assumed or an
equivalent option and stock appreciation right will be
substituted by the successor corporation, unless otherwise
determined by the Board in its discretion. If such successor or
purchaser refuses to assume or provide a substitute for the
outstanding options or stock appreciation rights, the Incentive
Plan and 1992 Plan provide for the acceleration of the
exercisability and termination of all or some outstanding and
unexercisable options and stock appreciation rights, unless
otherwise determined by the Board in its discretion. In the
event of the acquisition by any person, other than Jabil, of 50%
or more of Jabil&#146;s then outstanding securities, unless
otherwise determined by the Board in its discretion, all
outstanding options and stock appreciation rights which are
vested and exercisable shall be terminated in exchange for a
cash payment.
</FONT>

<!-- link1 "CERTAIN TRANSACTIONS" -->
<DIV align="left"><A NAME="009"></A></DIV>

<P align="center">
<B><FONT size="2">CERTAIN TRANSACTIONS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During 2003, Jabil was a party to an agreement
with an entity (&#147;Indigo&#148;) controlled by William D.
Morean, a director of Jabil, for Jabil&#146;s use of
Indigo&#146;s aircraft for Jabil&#146;s business purposes. Under
the lease, Jabil paid market competitive hourly rental rates and
certain ancillary costs incurred while the aircraft were being
used by Jabil, such as fuel, oil, landing fees, etc. Jabil did
not pay for Mr.&nbsp;Morean&#146;s personal use of the aircraft.
During the fiscal year ended August&nbsp;31, 2003, Jabil paid
approximately $26,000 for its use of Indigo&#146;s aircraft.
Mr.&nbsp;Morean also had an agreement with Jabil at market
competitive rates for the limited use of Jabil&#146;s flight
crew to operate non-Jabil aircraft for non-Jabil use. During the
fiscal year ended August&nbsp;31, 2003, Mr.&nbsp;Morean paid
Jabil approximately $108,600 for such flight crew&#146;s
services. Jabil and Indigo also insure their respective aircraft
under a mutual policy, which enabled Jabil to take advantage of
a quantity discount for aircraft insurance and pay less for its
aircraft insurance than it would pay without the Indigo aircraft
on the policy. During the fiscal year ended August&nbsp;31,
2003, Jabil paid approximately $100,100 for the portion of the
cost of the policy attributable to Indigo&#146;s aircraft, which
was subsequently reimbursed by Indigo.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During 2003, Thomas A. Sansone, a director of
Jabil, had an agreement with Jabil at market competitive rates
for the limited use of Jabil&#146;s flight crew to operate
non-Jabil aircraft for non-Jabil use. During the fiscal year
ended August&nbsp;31, 2003, Mr.&nbsp;Sansone paid Jabil
approximately $94,400 for such flight crew&#146;s services.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Murphy, a director of Jabil, is also
currently working for Jabil as a consultant. For the fiscal year
ended August&nbsp;31, 2003, Mr.&nbsp;Murphy received a base
consulting fee of $205,000 and was paid a $50,000 bonus relating
to services performed in fiscal year 2002. In September 2003,
Mr.&nbsp;Murphy&#146;s contract was extended for six months with
a base consulting fee of $19,167 per month.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Charles A. Main, a brother of Timothy L.
Main, the Chief Executive Officer, President and a director of
Jabil, is employed by Jabil&#146;s Business Development division
and earned an aggregate compensation of $251,000 during fiscal
year 2003, which included base salary, bonus, profit sharing,
other routine employee benefits and approximately $92,000 for
the reimbursement or payment of certain expatriate-status
related living expenses and additional taxes incurred while on
assignment at Jabil&#146;s plant in Scotland.
</FONT>

<P align="center"><FONT size="2">22
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "REPORT OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS" -->
<DIV align="left"><A NAME="010"></A></DIV>

<P align="center">
<B><FONT size="2">REPORT OF THE COMPENSATION COMMITTEE</FONT></B>

<DIV align="center">
<B><FONT size="2">OF THE BOARD OF DIRECTORS</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">The Committee&#146;s Responsibilities:
</FONT></I><FONT size="2">The Compensation Committee of the
Board (the &#147;Committee&#148;) has responsibility for setting
and administering the policies which govern executive
compensation. The Committee is composed entirely of outside
directors. The purpose of this report is to summarize the
philosophical principles, specific program objectives and other
factors considered by the Committee in reaching its
determinations regarding the compensation of Jabil&#146;s
executive officers.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Compensation
Philosophy:</FONT></I><FONT size="2"> The Committee has approved
principles for the management compensation program which:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">encourage the development and the achievement of
    strategic objectives that enhance long-term stockholder value,
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">attract, retain and motivate key personnel who
    contribute to long-term success of Jabil, and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">provide a compensation package that recognizes
    individual contributions and company performance.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Compensation Methodology:
</FONT></I><FONT size="2">Jabil strives to provide a
comprehensive executive compensation program that is competitive
and performance-based in order to attract and retain superior
executive talent. In making its recommendations to the
Committee, management reviews market data and assesses
Jabil&#146;s competitive position for three components of
executive compensation: (1)&nbsp;base salary, (2)&nbsp;annual
incentives, and (3)&nbsp;long-term incentives. To assist in
benchmarking the competitiveness of its compensation programs,
Jabil uses Mercer Human Resource Consulting
(&#147;Mercer&#148;), a nationally recognized executive
compensation firm. Mercer utilizes a number of national
compensation surveys and provides databases for companies of
similar size to Jabil, as well as specific analysis of the
compensation information contained in the proxy statements of a
number of companies in the same industry as Jabil.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Components of Compensation:</FONT></I>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <I><FONT size="2">Base Salary.</FONT></I><FONT size="2"> Base
    salary for all executive officer positions is targeted to be
    competitive with the average salaries of comparable executives
    at technology companies of similar size and is also intended to
    reflect consideration of an officer&#146;s experience, business
    judgment and role in developing and implementing overall
    business strategy for Jabil. It is the intent of the Committee
    that Jabil&#146;s compensation of executive officers fall within
    the median of industry compensation levels. Base salaries are
    based upon qualitative and subjective factors and no specific
    formula is applied to determine the weight of each factor.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <I><FONT size="2">Bonuses. </FONT></I><FONT size="2">Bonuses for
    executive officers are intended to reflect Jabil&#146;s belief
    that a significant portion of the annual compensation of the
    executive should be contingent upon the performance of Jabil, as
    well as the individual&#146;s contribution. Bonuses are paid on
    an annual or quarterly basis and are based on qualitative and
    subjective factors, including the pre-tax profitability of
    Jabil, business development and operational performance,
    earnings per share, returns on invested capital and other
    measures of performance appropriate to the officer compensated.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <I><FONT size="2">Long-Term Incentives.
    </FONT></I><FONT size="2">Jabil utilizes stock options as
    long-term incentives to attract and retain key personnel or
    reward exceptional performance. Stock options are granted
    periodically by the Stock Option Committee and are based on both
    qualitative and subjective factors. Options are granted with an
    exercise price equal to the fair market value of Jabil&#146;s
    common stock on the last market trading day prior to the date of
    determination (determined in accordance with the option plan)
    and grants made during the last fiscal year vest over a period
    of 50&nbsp;months. This is designed to create an incentive to
    increase stockholder value over the long-term since the options
    will provide value to the recipient only when the price of the
    stock increases above the exercise price.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Chief Executive Officer and President
Compensation: </FONT></I><FONT size="2">The base salary of
Mr.&nbsp;Main was increased to be competitive with the average
salaries of comparable executives at technology companies of
similar size, based on the findings of the Mercer report. The
Compensation Committee also awarded a bonus to Mr.&nbsp;Main
based
</FONT>

<P align="center"><FONT size="2">23
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">upon the same types of factors other executive
bonuses were determined upon as outlined above during fiscal
year 2003. The amount of stock options granted to Mr.&nbsp;Main
as a long term incentive was based on the Committee&#146;s
evaluation of similar awards made by companies comparable to
Jabil.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">IRS Limits on Deductibility of
Compensation:</FONT></I><FONT size="2"> Section&nbsp;162(m) of
the Internal Revenue Code of 1986, as amended, with certain
exceptions, limits Jabil&#146;s tax deduction for compensation
paid to Named Executives to $1,000,000 per covered executive
year. Jabil expects no adverse tax consequences under
Section&nbsp;162(m) for fiscal year 2003.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">By the Compensation Committee
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Frank A. Newman
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Steven A. Raymund
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Mel S. Lavitt
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">The information contained in the above
Compensation Committee Report shall not be deemed
&#147;soliciting material&#148; or &#147;filed&#148; with the
SEC, or subject to the liabilities of Section&nbsp;18 of the
Securities Exchange Act or 1934, except to the extent that we
specifically incorporate it by reference into such
filings.</FONT></I>

<P align="center"><FONT size="2">24
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "STOCK PRICE PERFORMANCE GRAPH" -->
<DIV align="left"><A NAME="011"></A></DIV>

<P align="center">
<B><FONT size="2">STOCK PRICE PERFORMANCE GRAPH</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following Performance Graph and table show a
comparison of cumulative total stockholder return, assuming the
reinvestment of dividends, from a $100 investment in the common
stock of Jabil over the five-year period ending August&nbsp;31,
2003, with the cumulative stockholder return on the
(1)&nbsp;S&#38;P&nbsp;500 Stock Index (the
&#147;S&#38;P&nbsp;500 Index&#148;), (2)&nbsp;a peer group that
includes Celestica Inc., Flextronics International Ltd.,
Sanmina-SCI Corporation and Solectron Corporation (the
&#147;Peer Group&#148;), (3)&nbsp;NYSE Stock Market&nbsp;&#151;
US&nbsp;Companies index (the &#147;NYSE Index&#148;) and
(4)&nbsp;the Nasdaq Stock Market&nbsp;&#151; computer
manufacturers (the &#147;Nasdaq Index&#148;). In fiscal 2002,
the graph showed a comparison of cumulative total stockholder
returns for our common stock, the NYSE Index, and the Nasdaq
Index. We are transitioning to the Peer Group from the Nasdaq
Index, as we believe that the companies comprising the Peer
Group provide a better comparison of stock performance with us
than the companies in the Nasdaq Index and we are transitioning
to the S&#38;P&nbsp;500&nbsp;Index from the NYSE Index as we are
included in the S&#38;P&nbsp;500&nbsp;Index. Note that historic
stock price performance is not necessarily indicative of future
price performance.
</FONT>

<P align="center">
<B><FONT size="2">Comparison of 5&nbsp;Year Cumulative Total
Return</FONT></B>

<DIV align="center">
<B><FONT size="2">Assumes Initial Investment of $100 and
Reinvestment of Dividends</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">August&nbsp;2003</FONT></B>
</DIV>

<P align="center">
<IMG src="g86079g8607901.gif" alt="(PERFORMANCE GRAPH)">

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="25"></TD>
</TR>

<TR>
    <TD colspan="25" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">8/31/1998</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">8/31/1999</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">8/31/2000</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">8/31/2001</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">8/30/2002</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">8/31/2003</FONT></B></TD>
</TR>

<TR>
    <TD colspan="25"></TD>
</TR>

<TR>
    <TD colspan="25" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;Jabil Circuit
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">381.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1085.6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">393.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">318.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">479.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;S&#38;P 500
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">139.8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">162.6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">123.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100.8</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">113.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;NYSE
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">129.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">144.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">130.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">112.6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">123.6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;Computer Manufacturers
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">235.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">452.7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">122.5</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">99.3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">133.6</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">&nbsp;Peer Group
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">355.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">609.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">231.4</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">89.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">125.0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">The information contained in the above
Performance Graph and table shall not be deemed &#147;soliciting
material&#148; or &#147;filed&#148; with the SEC, or subject to
the liabilities of Section&nbsp;18 of the Securities Exchange
Act or 1934, except to the extent that we specifically
incorporate it by reference into such filings.</FONT></I>

<P align="center"><FONT size="2">25
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "OTHER MATTERS" -->
<DIV align="left"><A NAME="012"></A></DIV>

<P align="center">
<B><FONT size="2">OTHER MATTERS</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil knows of no other matters to be submitted
to the Annual Meeting. If any other matters properly come before
the Annual Meeting, it is the intention of the persons named in
the enclosed proxy card to vote the shares they represent as
Jabil may recommend.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Jabil&#146;s Annual Report on Form&nbsp;10-K, as
filed by Jabil with the Securities and Exchange Commission
(excluding exhibits), is a portion of the Annual Report that is
being mailed, together with this Proxy Statement, to all
stockholders entitled to vote at the Annual Meeting. However,
such Annual Report, including the Annual Report on
Form&nbsp;10-K is not to be considered part of this proxy
solicitation material.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">THE BOARD OF DIRECTORS
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">St. Petersburg, Florida <BR>
 December&nbsp;3, 2003
</FONT>

<P align="center"><FONT size="2">26
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "APPENDIX A JABIL CIRCUIT, INC. 2002 STOCK INCENTIVE PLAN" -->
<DIV align="left"><A NAME="013"></A></DIV>

<P align="right">
<B><FONT size="2">APPENDIX A</FONT></B>

<P align="center">
<B><FONT size="2">JABIL CIRCUIT, INC.</FONT></B>

<P align="center">
<B><FONT size="2">2002 STOCK INCENTIVE PLAN</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Purposes of
the Plan.</I> The purposes of this Stock Incentive Plan are to
attract and retain the best available personnel for positions of
substantial responsibility, to provide additional incentive to
Employees and Consultants, and to promote the success of the
Company&#146;s business. Awards granted under the Plan may be
Incentive Stock Options, Nonstatutory Stock Options, Stock
Awards, Performance Units, Performance Shares or Stock
Appreciation Rights.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Definitions.</I>
As used herein, the following definitions shall apply:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;<I>&#147;Administrator&#148;</I> means
    the Board or any Committee or person as shall be administering
    the Plan, in accordance with Section&nbsp;4 of the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;<I>&#147;Applicable Law&#148;</I> means
    the legal requirements relating to the administration of the
    Plan under applicable federal, state, local and foreign
    corporate, tax and securities laws, and the rules and
    requirements of any stock exchange or quotation system on which
    the Common Stock is listed or quoted.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(c)&nbsp;<I>&#147;Award&#148;</I> means an
    Option, Stock Appreciation Right, Stock Award, Performance Unit
    or Performance Share granted under the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(d)&nbsp;<I>&#147;Award Agreement&#148;</I> means
    a written agreement by which an Award is evidenced.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(e)&nbsp;<I>&#147;Board&#148;</I> means the Board
    of Directors of the Company.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(f)&nbsp;<I>&#147;Change in Control&#148;</I>
    means the happening of any of the following:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;When any &#147;person,&#148; as such
    term is used in Sections&nbsp;13(d) and 14(d) of the Exchange
    Act (other than the Company, a Subsidiary or a Company employee
    benefit plan, including any trustee of such plan acting as
    trustee) is or becomes the &#147;beneficial owner&#148; (as
    defined in Rule&nbsp;13d-3 under the Exchange Act), directly or
    indirectly, of securities of the Company representing fifty
    percent (50%) or more of the combined voting power of the
    Company&#146;s then outstanding securities; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;The occurrence of a transaction
    requiring stockholder approval, and involving the sale of all or
    substantially all of the assets of the Company or the merger of
    the Company with or into another corporation.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(g)&nbsp;<I>&#147;Change in Control
    Price&#148;</I> means, as determined by the Board,
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;the highest Fair Market Value of a Share
    within the 60&nbsp;day period immediately preceding the date of
    determination of the Change in Control Price by the Board (the
    &#147;60-Day Period&#148;), or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;the highest price paid or offered per
    Share, as determined by the Board, in any bona fide transaction
    or bona fide offer related to the Change in Control of the
    Company, at any time within the 60-Day Period, or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;some lower price as the Board, in its
    discretion, determines to be a reasonable estimate of the fair
    market value of a Share.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(h)&nbsp;<I>&#147;Code&#148;</I> means the
    Internal Revenue Code of 1986, as amended.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;<I>&#147;Committee&#148;</I> means a
    Committee appointed by the Board in accordance with
    Section&nbsp;4 of the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(j)&nbsp;<I>&#147;Common Stock&#148;</I> means
    the Common Stock, $.001 par value, of the Company.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(k)&nbsp;<I>&#147;Company&#148;</I> means Jabil
    Circuit, Inc., a Delaware corporation.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-1
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(l)&nbsp;<I>&#147;Consultant&#148;</I> means any
    person, including an advisor, engaged by the Company or a Parent
    or Subsidiary to render services and who is compensated for such
    services, including without limitation non-Employee Directors
    who are paid only a director&#146;s fee by the Company or who
    are compensated by the Company for their services as
    non-Employee Directors. In addition, as used herein,
    &#147;consulting relationship&#148; shall be deemed to include
    service by a non-Employee Director as such.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(m)&nbsp;<I>&#147;Continuous Status as an
    Employee or Consultant&#148;</I> means that the employment or
    consulting relationship is not interrupted or terminated by the
    Company, any Parent or Subsidiary. Continuous Status as an
    Employee or Consultant shall not be considered interrupted in
    the case of (i)&nbsp;any leave of absence approved in writing by
    the Board, an Officer, or a person designated in writing by the
    Board or an Officer as authorized to approve a leave of absence,
    including sick leave, military leave, or any other personal
    leave; provided, however, that for purposes of Incentive Stock
    Options, any such leave may not exceed 90&nbsp;days, unless
    reemployment upon the expiration of such leave is guaranteed by
    contract (including certain Company policies) or statute, or
    (ii)&nbsp;transfers between locations of the Company or between
    the Company, a Parent, a Subsidiary or successor of the Company;
    or (iii)&nbsp;a change in the status of the Grantee from
    Employee to Consultant or from Consultant to Employee.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(n)&nbsp;<I>&#147;Covered Stock&#148;</I> means
    the Common Stock subject to an Award.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(o)&nbsp;<I>&#147;Date of Grant&#148;</I> means
    the date on which the Administrator makes the determination
    granting the Award, or such other later date as is determined by
    the Administrator. Notice of the determination shall be provided
    to each Grantee within a reasonable time after the Date of Grant.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(p)&nbsp;<I>&#147;Date of Termination&#148;</I>
    means the date on which a Grantee&#146;s Continuous Status as an
    Employee or Consultant terminates.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(q)&nbsp;<I>&#147;Director&#148;</I> means a
    member of the Board.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(r)&nbsp;<I>&#147;Disability&#148;</I> means
    total and permanent disability as defined in
    Section&nbsp;22(e)(3) of the Code.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(s)&nbsp;<I>&#147;Employee&#148;</I> means any
    person, including Officers and Directors, employed by the
    Company or any Parent or Subsidiary of the Company. Neither
    service as a Director nor payment of a director&#146;s fee by
    the Company shall be sufficient to constitute
    &#147;employment&#148; by the Company.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(t)&nbsp;<I>&#147;Exchange Act&#148;</I> means
    the Securities Exchange Act of 1934, as amended.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(u)&nbsp;<I>&#147;Fair Market Value&#148;</I>
    means, as of any date, the value of Common Stock determined as
    follows:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;If the Common Stock is listed on any
    established stock exchange or a national market system,
    including without limitation the National Market System of the
    National Association of Securities Dealers, Inc. Automated
    Quotation (&#147;NASDAQ&#148;) System, the Fair Market Value of
    a Share of Common Stock shall be the closing sales price for
    such stock (or the closing bid, if no sales were reported) as
    quoted on such system or exchange (or the exchange with the
    greatest volume of trading in Common Stock) on the last market
    trading day prior to the day of determination, as reported in
    The Wall Street Journal or such other source as the
    Administrator deems reliable;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;If the Common Stock is quoted on the
    NASDAQ System (but not on the National Market System thereof) or
    is regularly quoted by a recognized securities dealer but
    selling prices are not reported, the Fair Market Value of a
    Share of Common Stock shall be the mean between the high bid and
    low asked prices for the Common Stock on the last market trading
    day prior to the day of determination, as reported in The Wall
    Street Journal or such other source as the Administrator deems
    reliable;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;In the absence of an established
    market for the Common Stock, the Fair Market Value shall be
    determined in good faith by the Administrator.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(v)&nbsp;<I>&#147;Grantee&#148;</I> means an
    individual who has been granted an Award.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(w)&nbsp;<I>&#147;Incentive Stock
    Option&#148;</I> means an Option intended to qualify as an
    incentive stock option within the meaning of Section&nbsp;422 of
    the Code and the regulations promulgated thereunder.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-2
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(x)&nbsp;<I>&#147;Mature Shares&#148;</I> means
    Shares for which the holder thereof has good title, free and
    clear of all liens and encumbrances, and that such holder either
    (i)&nbsp;has held for at least six months or (ii)&nbsp;has
    purchased on the open market.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(y)&nbsp;<I>&#147;Nonstatutory Stock
    Option&#148;</I> means an Option not intended to qualify as an
    Incentive Stock Option.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(z)&nbsp;<I>&#147;Officer&#148;</I> means a
    person who is an officer of the Company within the meaning of
    Section&nbsp;16 of the Exchange Act and the rules and
    regulations promulgated thereunder.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(aa)&nbsp;<I>&#147;Option&#148;</I> means a stock
    option granted under the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(bb)&nbsp;<I>&#147;Parent&#148;</I> means a
    corporation, whether now or hereafter existing, in an unbroken
    chain of corporations ending with the Company if each of the
    corporations other than the Company holds at least
    50&nbsp;percent of the voting shares of one of the other
    corporations in such chain.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(cc)&nbsp;<I>&#147;Performance Period&#148;</I>
    means the time period during which the performance goals
    established by the Administrator with respect to a Performance
    Unit or Performance Share, pursuant to Section&nbsp;9 of the
    Plan, must be met.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(dd)&nbsp;<I>&#147;Performance Share&#148;</I>
    has the meaning set forth in Section&nbsp;9 of the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ee)&nbsp;<I>&#147;Performance Unit&#148;</I> has
    the meaning set forth in Section&nbsp;9 of the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ff)&nbsp;<I>&#147;Plan&#148;</I> means this 2002
    Stock Incentive Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(gg)&nbsp;<I>&#147;Rule&nbsp;16b-3&#148;</I>
    means Rule&nbsp;16b-3 promulgated under the Exchange Act or any
    successor to Rule&nbsp;16b-3, as in effect when discretion is
    being exercised with respect to the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(hh)&nbsp;<I>&#147;Share&#148;</I> means a share
    of the Common Stock, as adjusted in accordance with
    Section&nbsp;11 of the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;<I>&#147;Stock Appreciation
    Right&#148;</I> or <I>&#147;SAR&#148;</I> has the meaning set
    forth in Section&nbsp;7 of the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(jj)&nbsp;<I>&#147;Stock Grant&#148;</I> means
    Shares that are awarded to a Grantee pursuant to Section&nbsp;8
    of the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(kk)&nbsp;<I>&#147;Subsidiary&#148;</I> means a
    corporation, domestic or foreign, of which not less than
    50&nbsp;percent of the voting shares are held by the Company or
    a Subsidiary, whether or not such corporation now exists or is
    hereafter organized or acquired by the Company or a Subsidiary.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock Subject
to the Plan. </I>Subject to the provisions of Section&nbsp;11 of
the Plan and except as otherwise provided in this
Section&nbsp;3, the maximum aggregate number of Shares that may
be subject to Awards under the Plan since the Plan became
effective is:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(a)&nbsp;The 11,512,705 Shares that were
    available on November&nbsp;14, 2003 to be subject to future
    Awards;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(b)&nbsp;The 7,995,944 Shares that were subject
    to Awards on November&nbsp;14, 2003; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(c)&nbsp;The Shares issued prior to
    November&nbsp;14, 2003 that were subject to Awards prior to such
    date.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">The Shares may be authorized, but unissued, or
reacquired Common Stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If an Award expires or becomes unexercisable
without having been exercised in full the remaining Shares that
were subject to the Award shall become available for future
Awards under the Plan (unless the Plan has terminated). If any
Shares (whether subject to or received pursuant to an Award
granted hereunder, purchased on the open market, or otherwise
obtained, and including Shares that are deemed (by attestation
or otherwise) to have been delivered to the Company as payment
for all or any portion of the exercise price of an Award) are
withheld or applied as payment by the Company in connection with
the exercise of an Award or the withholding of taxes related
thereto, such Shares, to the extent of any such withholding or
payment, shall again be available or shall increase the number
of Shares available, as applicable, for future Awards under the
</FONT>

<P align="center"><FONT size="2">A-3
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">Plan. The Board may from time to time determine
the appropriate methodology for calculating the number of Shares
issued pursuant to the Plan.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Administration
of the Plan.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Procedure.</I>
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;<I>Multiple Administrative Bodies.</I>
    The Plan may be administered by different bodies with respect to
    different groups of Employees and Consultants. Except as
    provided below, the Plan shall be administered by (A)&nbsp;the
    Board or (B)&nbsp;a committee designated by the Board and
    constituted to satisfy Applicable Law.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;<I>Rule&nbsp;16b-3.</I> To the extent
    the Board considers it desirable for transactions relating to
    Awards to be eligible to qualify for an exemption under
    Rule&nbsp;16b-3, the transactions contemplated under the Plan
    shall be structured to satisfy the requirements for exemption
    under Rule&nbsp;16b-3.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;<I>Section&nbsp;162(m) of the
    Code.</I> To the extent the Board considers it desirable for
    compensation delivered pursuant to Awards to be eligible to
    qualify for an exemption from the limit on tax deductibility of
    compensation under Section&nbsp;162(m) of the Code, the
    transactions contemplated under the Plan shall be structured to
    satisfy the requirements for exemption under Section&nbsp;162(m)
    of the Code.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iv)&nbsp;<I>Authorization of Officers to Grant
    Options.</I> In accordance with Applicable Law, the Board may,
    by a resolution adopted by the Board, authorize one or more
    Officers to designate Officers and Employees (excluding the
    Officer so authorized) to be Grantees of Options and determine
    the number of Options to be granted to such Officers and
    Employees; provided, however, that the resolution adopted by the
    Board so authorizing such Officer or Officers shall specify the
    total number and the terms (including the exercise price, which
    may include a formula by which such price may be determined) of
    Options such Officer or Officers may so grant.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Powers of the Administrator.</I>
Subject to the provisions of the Plan, and in the case of a
Committee or an Officer, subject to the specific duties
delegated by the Board to such Committee or Committee, the
Administrator shall have the authority, in its sole and absolute
discretion:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;to determine the Fair Market Value of
    the Common Stock, in accordance with Section&nbsp;2(u) of the
    Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;to select the Consultants and Employees
    to whom Awards will be granted under the Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;to determine whether, when, to what
    extent and in what types and amounts Awards are granted under
    the Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iv)&nbsp;to determine the number of shares of
    Common Stock to be covered by each Award granted under the Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(v)&nbsp;to determine the forms of Award
    Agreements, which need not be the same for each grant or for
    each Grantee, for use under the Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(vi)&nbsp;to determine the terms and conditions,
    not inconsistent with the terms of the Plan, of any Award
    granted under the Plan. Such terms and conditions, which need
    not be the same for each grant or for each Grantee, include, but
    are not limited to, the exercise price, the time or times when
    Options and SARs may be exercised (which may be based on
    performance criteria), the extent to which vesting is suspended
    during a leave of absence, any vesting acceleration or waiver of
    forfeiture restrictions, and any restriction or limitation
    regarding any Award or the shares of Common Stock relating
    thereto, based in each case on such factors as the Administrator
    shall determine;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(vii)&nbsp;to construe and interpret the terms of
    the Plan and Awards;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(viii)&nbsp;to prescribe, amend and rescind rules
    and regulations relating to the Plan, including, without
    limiting the generality of the foregoing, rules and regulations
    relating to the operation and administration of the Plan to
    accommodate the specific requirements of local and foreign laws
    and procedures;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-4
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ix)&nbsp;to modify or amend each Award (subject
    to Section&nbsp;13 of the Plan). However, the Administrator may
    not modify or amend any outstanding Option so as to specify a
    lower exercise price or accept the surrender of an outstanding
    Option and authorize the granting of a new Option with a lower
    exercise price in substitution for such surrendered Option;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(x)&nbsp;to authorize any person to execute on
    behalf of the Company any instrument required to effect the
    grant of an Award previously granted by the Administrator;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(xi)&nbsp;to determine the terms and restrictions
    applicable to Awards;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(xii)&nbsp;to make such adjustments or
    modifications to Awards granted to Grantees who are Employees of
    foreign Subsidiaries as are advisable to fulfill the purposes of
    the Plan or to comply with Applicable Law;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(xiii)&nbsp;to delegate its duties and
    responsibilities under the Plan with respect to sub-plans
    applicable to foreign Subsidiaries, except its duties and
    responsibilities with respect to Employees who are also Officers
    or Directors subject to Section&nbsp;16(b) of the Exchange Act;
    and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(xiv)&nbsp;to make all other determinations
    deemed necessary or advisable for administering the Plan.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(c)&nbsp;<I>Effect of Administrator&#146;s
Decision.</I> The Administrator&#146;s decisions, determinations
and interpretations shall be final and binding on all Grantees
and any other holders of Awards.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Eligibility
and General Conditions of Awards.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Eligibility.</I> Awards other than
Incentive Stock Options may be granted to Employees and
Consultants. Incentive Stock Options may be granted only to
Employees. If otherwise eligible, an Employee or Consultant who
has been granted an Award may be granted additional Awards.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Maximum Term.</I> Subject to the
following provision, the term during which an Award may be
outstanding shall not extend more than ten years after the Date
of Grant, and shall be subject to earlier termination as
specified elsewhere in the Plan or Award Agreement; provided,
however, that any deferral of a cash payment or of the delivery
of Shares that is permitted or required by the Administrator
pursuant to Section&nbsp;10 of the Plan may, if so permitted or
required by the Administrator, extend more than ten years after
the Date of Grant of the Award to which the deferral relates.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(c)&nbsp;<I>Award Agreement.</I> To the extend
not set forth in the Plan, the terms and conditions of each
Award, which need not be the same for each grant or for each
Grantee, shall be set forth in an Award Agreement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(d)&nbsp;<I>Termination of Employment or
Consulting Relationship.</I> In the event that a Grantee&#146;s
Continuous Status as an Employee or Consultant terminates (other
than upon the Grantee&#146;s death or Disability), then, unless
otherwise provided by the Award Agreement, and subject to
Section&nbsp;11 of the Plan:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;the Grantee may exercise his or her
    unexercised Option or SAR, but only within such period of time
    as is determined by the Administrator, and only to the extent
    that the Grantee was entitled to exercise it at the Date of
    Termination (but in no event later than the expiration of the
    term of such Option or SAR as set forth in the Award Agreement).
    In the case of an Incentive Stock Option, the Administrator
    shall determine such period of time (in no event to exceed three
    months from the Date of Termination) when the Option is granted.
    If, at the Date of Termination, the Grantee is not entitled to
    exercise his or her entire Option or SAR, the Shares covered by
    the unexercisable portion of the Option or SAR shall revert to
    the Plan. If, after the Date of Termination, the Grantee does
    not exercise his or her Option or SAR within the time specified
    by the Administrator, the Option or SAR shall terminate, and the
    Shares covered by such Option or SAR shall revert to the Plan.
    An Award Agreement may also provide that if the exercise of an
    Option following the Date of Termination would be prohibited at
    any time because the issuance of Shares would violate Company
    policy regarding compliance with Applicable Law, then the
    exercise period shall terminate on the earlier of (A)&nbsp;the
    expiration of the term of the Option set forth in
    Section&nbsp;6(b) of the Plan or (B)&nbsp;the expiration of a
    period of 10&nbsp;days after the Date of Termination during
    which the exercise of the Option would not be in violation of
    such requirements;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-5
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;the Grantee&#146;s Stock Awards, to the
    extent forfeitable immediately before the Date of Termination,
    shall thereupon automatically be forfeited;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;the Grantee&#146;s Stock Awards that
    were not forfeitable immediately before the Date of Termination
    shall promptly be settled by delivery to the Grantee of a number
    of unrestricted Shares equal to the aggregate number of the
    Grantee&#146;s vested Stock Awards;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iv)&nbsp;any Performance Shares or Performance
    Units with respect to which the Performance Period has not ended
    as of the Date of Termination shall terminate immediately upon
    the Date of Termination.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(e)&nbsp;<I>Disability of Grantee.</I> In the
event that a Grantee&#146;s Continuous Status as an Employee or
Consultant terminates as a result of the Grantee&#146;s
Disability, then, unless otherwise provided by the Award
Agreement:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;the Grantee may exercise his or her
    unexercised Option or SAR at any time within 12&nbsp;months from
    the Date of Termination, but only to the extent that the Grantee
    was entitled to exercise the Option or SAR at the Date of
    Termination (but in no event later than the expiration of the
    term of the Option or SAR as set forth in the Award Agreement).
    If, at the Date of Termination, the Grantee is not entitled to
    exercise his or her entire Option or SAR, the Shares covered by
    the unexercisable portion of the Option or SAR shall revert to
    the Plan. If, after the Date of Termination, the Grantee does
    not exercise his or her Option or SAR within the time specified
    herein, the Option or SAR shall terminate, and the Shares
    covered by such Option or SAR shall revert to the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;the Grantee&#146;s Stock Awards, to the
    extent forfeitable immediately before the Date of Termination,
    shall thereupon automatically be forfeited;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;the Grantee&#146;s Stock Awards that
    were not forfeitable immediately before the Date of Termination
    shall promptly be settled by delivery to the Grantee of a number
    of unrestricted Shares equal to the aggregate number of the
    Grantee&#146;s vested Stock Awards;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iv)&nbsp;any Performance Shares or Performance
    Units with respect to which the Performance Period has not ended
    as of the Date of Termination shall terminate immediately upon
    the Date of Termination.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(f)&nbsp;<I>Death of Grantee.</I> In the event of
the death of an Grantee, then, unless otherwise provided by the
Award Agreement,
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;the Grantee&#146;s unexercised Option or
    SAR may be exercised at any time within 12&nbsp;months following
    the date of death (but in no event later than the expiration of
    the term of such Option or SAR as set forth in the Award
    Agreement), by the Grantee&#146;s estate or by a person who
    acquired the right to exercise the Option or SAR by bequest or
    inheritance, but only to the extent that the Grantee was
    entitled to exercise the Option or SAR at the date of death. If,
    at the time of death, the Grantee was not entitled to exercise
    his or her entire Option or SAR, the Shares covered by the
    unexercisable portion of the Option or SAR shall immediately
    revert to the Plan. If, after death, the Grantee&#146;s estate
    or a person who acquired the right to exercise the Option or SAR
    by bequest or inheritance does not exercise the Option or SAR
    within the time specified herein, the Option or SAR shall
    terminate, and the Shares covered by such Option or SAR shall
    revert to the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;the Grantee&#146;s Stock Awards, to the
    extent forfeitable immediately before the date of death, shall
    thereupon automatically be forfeited;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;the Grantee&#146;s Stock Awards that
    were not forfeitable immediately before the date of death shall
    promptly be settled by delivery to the Grantee&#146;s estate or
    a person who acquired the right to hold the Stock Grant by
    bequest or inheritance, of a number of unrestricted Shares equal
    to the aggregate number of the Grantee&#146;s vested Stock
    Awards;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iv)&nbsp;any Performance Shares or Performance
    Units with respect to which the Performance Period has not ended
    as of the date of death shall terminate immediately upon the
    date of death.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-6
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(g)&nbsp;<I>Buyout Provisions.</I> The
Administrator may at any time offer to buy out, for a payment in
cash or Shares, an Award previously granted, based on such terms
and conditions as the Administrator shall establish and
communicate to the Grantee at the time that such offer is made.
Any such cash offer made to an Officer or Director shall comply
with the provisions of Rule&nbsp;16b-3 relating to cash
settlement of stock appreciation rights. This provision is
intended only to clarify the powers of the Administrator and
shall not in any way be deemed to create any rights on the part
of Grantees to buyout offers or payments.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(h)&nbsp;<I>Nontransferability of Awards.</I>
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;Except as provided in
    Section&nbsp;5(h)(iii) below, each Award, and each right under
    any Award, shall be exercisable only by the Grantee during the
    Grantee&#146;s lifetime, or, if permissible under Applicable
    Law, by the Grantee&#146;s guardian or legal representative.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;Except as provided in
    Section&nbsp;5(h)(iii) below, no Award (prior to the time, if
    applicable, Shares are issued in respect of such Award), and no
    right under any Award, may be assigned, alienated, pledged,
    attached, sold or otherwise transferred to encumbered by a
    Grantee otherwise than by will or by the laws of descent and
    distribution (or in the case of Stock Awards, to the Company)
    and any such purported assignment, alienation, pledge,
    attachment, sale, transfer or encumbrance shall be void and
    unenforceable against the Company or any Subsidiary; provided,
    that the designation of a beneficiary shall not constitute an
    assignment, alienation, pledge, attachment, sale, transfer or
    encumbrance.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;To the extent and in the manner
    permitted by Applicable Law, and to the extent and in the manner
    permitted by the Administrator, and subject to such terms and
    conditions as may be prescribed by the Administrator, a Grantee
    may transfer an Award to:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(A)&nbsp;a child, stepchild, grandchild, parent,
    stepparent, grandparent, spouse, former spouse, sibling, niece,
    nephew, mother-in-law, father-in-law, son-in-law,
    daughter-in-law, brother-in-law, or sister-in-law of the Grantee
    (including adoptive relationships);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(B)&nbsp;any person sharing the employee&#146;s
    household (other than a tenant or employee);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(C)&nbsp;a trust in which persons described in
    (A)&nbsp;and (B)&nbsp;have more than 50&nbsp;percent of the
    beneficial interest;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(D)&nbsp;a foundation in which persons described
    in (A)&nbsp;or (B)&nbsp;or the Grantee control the management of
    assets; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(E)&nbsp;any other entity in which the persons
    described in (A)&nbsp;or (B)&nbsp;or the Grantee own more than
    50&nbsp;percent of the voting interests;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">provided such transfer is not for value. The
    following shall not be considered transfers for value: a
    transfer under a domestic relations order in settlement of
    marital property rights, and a transfer to an entity in which
    more than 50&nbsp;percent of the voting interests are owned by
    persons described in (A)&nbsp;above or the Grantee, in exchange
    for an interest in such entity.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock
Options.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Limitations.</I>
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;Each Option shall be designated in the
    Award Agreement as either an Incentive Stock Option or a
    Nonstatutory Stock Option. Any Option designated as an Incentive
    Stock Option:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(A)&nbsp;shall not have an aggregate Fair Market
    Value (determined for each Incentive Stock Option at the Date of
    Grant) of Shares with respect to which Incentive Stock Options
    are exercisable for the first time by the Grantee during any
    calendar year (under the Plan and any other employee stock
    option plan of the Company or any Parent or Subsidiary
    (&#147;Other Plans&#148;)), determined in accordance with the
    provisions of Section&nbsp;422 of the Code, that exceeds
    $100,000 (the &#147;$100,000 Limit&#148;);
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-7
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(B)&nbsp;shall, if the aggregate Fair Market
    Value of Shares (determined on the Date of Grant) with respect
    to the portion of such grant that is exercisable for the first
    time during any calendar year (&#147;Current Grant&#148;) and
    all Incentive Stock Options previously granted under the Plan
    and any Other Plans that are exercisable for the first time
    during a calendar year (&#147;Prior Grants&#148;) would exceed
    the $100,000 Limit, be exercisable as follows:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;The portion of the Current Grant that
    would, when added to any Prior Grants, be exercisable with
    respect to Shares that would have an aggregate Fair Market Value
    (determined as of the respective Date of Grant for such Options)
    in excess of the $100,000 Limit shall, notwithstanding the terms
    of the Current Grant, be exercisable for the first time by the
    Grantee in the first subsequent calendar year or years in which
    it could be exercisable for the first time by the Grantee when
    added to all Prior Grants without exceeding the $100,000 Limit;
    and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;If, viewed as of the date of the Current
    Grant, any portion of a Current Grant could not be exercised
    under the preceding provisions of this Section&nbsp;6(a)(i)(B)
    during any calendar year commencing with the calendar year in
    which it is first exercisable through and including the last
    calendar year in which it may by its terms be exercised, such
    portion of the Current Grant shall not be an Incentive Stock
    Option, but shall be exercisable as a separate Option at such
    date or dates as are provided in the Current Grant.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;No Employee shall be granted, in any
    fiscal year of the Company, Options to purchase more than
    3,000,000&nbsp;Shares. The limitation described in this
    Section&nbsp;6(a)(ii) shall be adjusted proportionately in
    connection with any change in the Company&#146;s capitalization
    as described in Section&nbsp;11 of the Plan. If an Option is
    canceled in the same fiscal year of the Company in which it was
    granted (other than in connection with a transaction described
    in Section&nbsp;11 of the Plan), the canceled Option will be
    counted against the limitation described in this
    Section&nbsp;6(a)(ii).
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Term of Option.</I> The term of each
Option shall be stated in the Award Agreement; provided,
however, that in the case of an Incentive Stock Option, the term
shall be 10&nbsp;years from the date of grant or such shorter
term as may be provided in the Award Agreement. Moreover, in the
case of an Incentive Stock Option granted to a Grantee who, at
the time the Incentive Stock Option is granted, owns stock
representing more than 10&nbsp;percent of the voting power of
all classes of stock of the Company or any Parent or Subsidiary,
the term of the Incentive Stock Option shall be five years from
the date of grant or such shorter term as may be provided in the
Award Agreement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(c)&nbsp;<I>Option Exercise Price and
Consideration.</I>
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;<I>Exercise Price.</I> The per share
    exercise price for the Shares to be issued pursuant to exercise
    of an Option shall be determined by the Administrator and,
    except as otherwise provided in this Section&nbsp;6(c)(i), shall
    be no less than 100&nbsp;percent of the Fair Market Value per
    Share on the Date of Grant.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(A)&nbsp;In the case of an Incentive Stock Option
    granted to an Employee who on the Date of Grant owns stock
    representing more than 10&nbsp;percent of the voting power of
    all classes of stock of the Company or any Parent or Subsidiary,
    the per Share exercise price shall be no less than
    110&nbsp;percent of the Fair Market Value per Share on the Date
    of Grant.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(B)&nbsp;Any Option that is (1)&nbsp;granted to a
    Grantee in connection with the acquisition
    (&#147;Acquisition&#148;), however effected, by the Company of
    another corporation or entity (&#147;Acquired Entity&#148;) or
    the assets thereof, (2)&nbsp;associated with an option to
    purchase shares of stock or other equity interest of the
    Acquired Entity or an affiliate thereof (&#147;Acquired Entity
    Option&#148;) held by such Grantee immediately prior to such
    Acquisition, and (3)&nbsp;intended to preserve for the Grantee
    the economic value of all or a portion of such Acquired Entity
    Option, may be granted with such exercise price as the
    Administrator determines to be necessary to achieve such
    preservation of economic value.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-8
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(C)&nbsp;Any Option that is granted to a Grantee
    not previously employed by the Company, or a Parent or
    Subsidiary, as a material inducement to the Grantee&#146;s
    commencing employment with the Company may be granted with such
    exercise price as the Administrator determines to be necessary
    to provide such material inducement.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(d)&nbsp;<I>Waiting Period and Exercise
Dates.</I> At the time an Option is granted, the Administrator
shall fix the period within which the Option may be exercised
and shall determine any conditions that must be satisfied before
the Option may be exercised. An Option shall be exercisable only
to the extent that it is vested according to the terms of the
Award Agreement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(e)&nbsp;<I>Form of Consideration.</I> The
Administrator shall determine the acceptable form of
consideration for exercising an Option, including the method of
payment. In the case of an Incentive Stock Option, the
Administrator shall determine the acceptable form of
consideration at the time of grant. The acceptable form of
consideration may consist of any combination of cash, personal
check, wire transfer or, subject to the approval of the
Administrator:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;pursuant to rules and procedures
    approved by the Administrator, promissory note;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;Mature Shares;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;pursuant to procedures approved by the
    Committee, (A)&nbsp;through the sale of the Shares acquired on
    exercise of the Option through a broker-dealer to whom the
    Grantee has submitted an irrevocable notice of exercise and
    irrevocable instructions to deliver promptly to the Company the
    amount of sale or loan proceeds sufficient to pay the exercise
    price, together with, if requested by the Company, the amount of
    federal, state, local or foreign withholding taxes payable by
    the Grantee by reason of such exercise, or (B)&nbsp;through
    simultaneous sale through a broker of Shares acquired upon
    exercise; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iv)&nbsp;such other consideration and method of
    payment for the issuance of Shares to the extent permitted by
    Applicable Law.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(f)&nbsp;<I>Exercise of Option.</I>
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;<I>Procedure for Exercise; Rights as a
    Stockholder.</I>
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(A)&nbsp;Any Option granted hereunder shall be
    exercisable according to the terms of the Plan and at such times
    and under such conditions as determined by the Administrator and
    set forth in the Award Agreement.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(B)&nbsp;An Option may not be exercised for a
    fraction of a Share.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(C)&nbsp;An Option shall be deemed exercised when
    the Company receives:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;written notice of exercise (in
    accordance with the Award Agreement) from the person entitled to
    exercise the Option, and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;full payment for the Shares with respect
    to which the Option is exercised. Full payment may consist of
    any consideration and method of payment authorized by the
    Administrator and permitted by the Award Agreement and the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;Shares issued upon exercise of an Option
    shall be issued in the name of the Grantee or, if requested by
    the Grantee, in the name of the Grantee and his or her spouse.
    Until the stock certificate evidencing such Shares is issued (as
    evidenced by the appropriate entry on the books of the Company
    or of a duly authorized transfer agent of the Company), no right
    to vote or receive dividends or any other rights as a
    stockholder shall exist with respect to the Optioned Stock,
    notwithstanding the exercise of the Option. The Company shall
    issue (or cause to be issued) such stock certificate promptly
    after the Option is exercised. No adjustment will be made for a
    dividend or other right for which the record date is prior to
    the date the stock certificate is issued, except as provided in
    Section&nbsp;11 of the Plan.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-9
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(4)&nbsp;Exercising an Option in any manner shall
    decrease the number of Shares thereafter available, both for
    purposes of the Plan and for sale under the Option, by the
    number of Shares as to which the Option is exercised.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock
Appreciation Rights.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Grant of SARs.</I> Subject to the
terms and conditions of the Plan, the Administrator may grant
SARs in tandem with an Option or alone and unrelated to an
Option. Tandem SARs shall expire no later than the expiration of
the underlying Option.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Exercise of SARs.</I> SARs shall be
exercised by the delivery of a written notice of exercise to the
Company, setting forth the number of Shares over which the SAR
is to be exercised. Tandem SARs may be exercised:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;with respect to all or part of the
    Shares subject to the related Option upon the surrender of the
    right to exercise the equivalent portion of the related Option;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;only with respect to the Shares for
    which its related Option is then exercisable; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;only when the Fair Market Value of the
    Shares subject to the Option exceeds the exercise price of the
    Option.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">The value of the payment with respect to the
tandem SAR may be no more than 100 percent of the difference
between the exercise price of the underlying Option and the Fair
Market Value of the Shares subject to the underlying Option at
the time the tandem SAR is exercised.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(c)&nbsp;<I>Payment of SAR Benefit.</I> Upon
exercise of an SAR, the Grantee shall be entitled to receive
payment from the Company in an amount determined by multiplying:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;the excess of the Fair Market Value of a
    Share on the date of exercise over the SAR exercise price; by
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;the number of Shares with respect to
    which the SAR is exercised;
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">provided, that the Administrator may provide in
the Award Agreement that the benefit payable on exercise of an
SAR shall not exceed such percentage of the Fair Market Value of
a Share on the Date of Grant as the Administrator shall specify.
As determined by the Administrator, the payment upon exercise of
an SAR may be in cash, in Shares that have an aggregate Fair
Market Value (as of the date of exercise of the SAR) equal to
the amount of the payment, or in some combination thereof, as
set forth in the Award Agreement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock
Awards.</I> Subject to the terms of the Plan, the Administrator
may grant Stock Awards to any Employee or Consultant, in such
amount and upon such terms and conditions as shall be determined
by the Administrator.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance
Units and Performance Shares.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Grant of Performance Units and
Performance Shares.</I> Subject to the terms of the Plan, the
Administrator may grant Performance Units or Performance Shares
to any Employee or Consultant in such amounts and upon such
terms as the Administrator shall determine.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Value/ Performance Goals.</I> Each
Performance Unit shall have an initial value that is established
by the Administrator on the Date of Grant. Each Performance
Share shall have an initial value equal to the Fair Market Value
of a Share on the Date of Grant. The Administrator shall set
performance goals that, depending upon the extent to which they
are met, will determine the number or value of Performance Units
or Performance Shares that will be paid to the Grantee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(c)&nbsp;<I>Payment of Performance Units and
Performance Shares.</I>
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;Subject to the terms of the Plan, after
    the applicable Performance Period has ended, the holder of
    Performance Units or Performance Shares shall be entitled to
    receive a payment based on the number and value of Performance
    Units or Performance Shares earned by the Grantee over the
    Performance
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-10
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Period, determined as a function of the extent to
    which the corresponding performance goals have been achieved.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;If a Grantee is promoted, demoted or
    transferred to a different business unit of the Company during a
    Performance Period, then, to the extent the Administrator
    determines appropriate, the Administrator may adjust, change or
    eliminate the performance goals or the applicable Performance
    Period as it deems appropriate in order to make them appropriate
    and comparable to the initial performance goals or Performance
    Period.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(d)&nbsp;<I>Form and Timing of Payment of
Performance Units and Performance Shares. </I>Payment of earned
Performance Units or Performance Shares shall be made in a lump
sum following the close of the applicable Performance Period.
The Administrator may pay earned Performance Units or
Performance Shares in cash or in Shares (or in a combination
thereof) that have an aggregate Fair Market Value equal to the
value of the earned Performance Units or Performance Shares at
the close of the applicable Performance Period. Such Shares may
be granted subject to any restrictions deemed appropriate by the
Administrator. The form of payout of such Awards shall be set
forth in the Award Agreement pertaining to the grant of the
Award.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Deferral of
Receipt of Payment.</I> The Administrator may permit or require
a Grantee to defer receipt of the payment of cash or the
delivery of Shares that would otherwise be due by virtue of the
exercise of an Option or SAR, the grant of or the lapse or
waiver of restrictions with respect to Stock Awards or the
satisfaction of any requirements or goals with respect to
Performance Units or Performance Shares. If any such deferral is
required or permitted, the Administrator shall establish such
rules and procedures for such deferral.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Adjustments
Upon Changes in Capitalization or Change of Control.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Changes in Capitalization.</I>
Subject to any required action by the stockholders of the
Company, the number of Covered Shares, and the number of shares
of Common Stock which have been authorized for issuance under
the Plan but as to which no Awards have yet been granted or
which have been returned to the Plan upon cancellation or
expiration of an Award, as well as the price per share of
Covered Stock, shall be proportionately adjusted for any
increase or decrease in the number of issued shares of Common
Stock resulting from a stock split, reverse stock split, stock
dividend, combination or reclassification of the Common Stock,
or any other increase or decrease in the number of issued shares
of Common Stock effected without receipt of consideration by the
Company; provided, however, that conversion of any convertible
securities of the Company shall not be deemed to have been
&#147;effected without receipt of consideration.&#148; Such
adjustment shall be made by the Board, whose determination in
that respect shall be final, binding and conclusive. Except as
expressly provided herein, no issuance by the Company of shares
of stock of any class, or securities convertible into shares of
stock of any class, shall affect, and no adjustment by reason
thereof shall be made with respect to, the number or price of
shares of Covered Stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Change in Control.</I> In the event
of a Change in Control, then the following provisions shall
apply:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(i)&nbsp;<I>Vesting.</I> Any Award outstanding on
    the date such Change in Control is determined to have occurred
    that is not yet exercisable and vested on such date:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(A)&nbsp;shall become fully exercisable and
    vested on the first anniversary of the date of such Change in
    Control (the &#147;Change in Control Anniversary&#148;) if the
    Grantee&#146;s Continuous Status as an Employee or Consultant
    does not terminate prior to the Change in Control Anniversary;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(B)&nbsp;shall become fully exercisable and
    vested on the Date of Termination if the Grantee&#146;s
    Continuous Status as an Employee or Consultant terminates prior
    to the Change in Control Anniversary as a result of termination
    by the Company without Cause or resignation by the Grantee for
    Good Reason; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(C)&nbsp;shall not become full exercisable and
    vested if the Grantee&#146;s Continuous Status as an Employee or
    Consultant terminates prior to the Change in Control Anniversary
    as a result of termination by the Company for Cause or
    resignation by the Grantee without Good Reason.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-11
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">For purposes of this Section&nbsp;11(b)(i), the
    following definitions shall apply:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(D)&nbsp;&#147;Cause&#148; means:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;A Grantee&#146;s conviction of a crime
    involving fraud or dishonesty; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;A Grantee&#146;s continued willful or
    reckless material misconduct in the performance of the
    Grantee&#146;s duties after receipt of written notice from the
    Company concerning such misconduct;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">provided, however, that for purposes of
    Section&nbsp;11(b)(i)(D)(2), Cause shall not include any one or
    more of the following: bad judgment, negligence or any act or
    omission believed by the Grantee in good faith to have been in
    or not opposed to the interest of the Company (without intent of
    the Grantee to gain, directly or indirectly, a profit to which
    the Grantee was not legally entitled).
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(E)&nbsp;&#147;Good Reason&#148; means:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(1)&nbsp;The assignment to the Grantee of any
    duties inconsistent in any respect with the Grantee&#146;s
    position (including status, titles and reporting requirement),
    authority, duties or responsibilities, or any other action by
    the Company that results in a diminution in such position,
    authority, duties or responsibilities, excluding for this
    purpose an isolated, insubstantial and inadvertent action that
    is not taken in bad faith and that is remedied by the Company
    promptly after receipt of written notice thereof given by the
    Grantee within 30&nbsp;days following the assignment or other
    action by the Company;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(2)&nbsp;Any reduction in compensation; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(3)&nbsp;Change in location of office of more
    than 35 miles without prior consent of the Grantee.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(ii)&nbsp;<I>Dissolution or Liquidation.</I> In
    the event of the proposed dissolution or liquidation of the
    Company, to the extent that an Award is outstanding, it will
    terminate immediately prior to the consummation of such proposed
    action. The Board may, in the exercise of its sole discretion in
    such instances, declare that any Option or SAR shall terminate
    as of a date fixed by the Board and give each Grantee the right
    to exercise his or her Option or SAR as to all or any part of
    the Covered Stock, including Shares as to which the Option or
    SAR would not otherwise be exercisable.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iii)&nbsp;<I>Merger or Asset Sale.</I> Except as
    otherwise determined by the Board, in its discretion, prior to
    the occurrence of a merger of the Company with or into another
    corporation, or the sale of substantially all of the assets of
    the Company, in the event of such a merger or sale each
    outstanding Option or SAR shall be assumed or an equivalent
    option or right shall be substituted by the successor
    corporation or a Parent or Subsidiary of the successor
    corporation. In the event that the successor corporation or a
    Parent or Subsidiary of the successor corporation does not agree
    to assume the Option or SAR or to substitute an equivalent
    option or right, the Administrator shall, in lieu of such
    assumption or substitution, provide for the Grantee to have the
    right to exercise the Option or SAR as to all or a portion of
    the Covered Stock, including Shares as to which it would not
    otherwise be exercisable. If the Administrator makes an Option
    or SAR exercisable in lieu of assumption or substitution in the
    event of a merger or sale of assets, the Administrator shall
    notify the Grantee that the Option or SAR shall be fully
    exercisable for a period of 15&nbsp;days from the date of such
    notice, and the Option or SAR will terminate upon the expiration
    of such period. For the purposes of this paragraph, the Option
    or SAR shall be considered assumed if, following the merger or
    sale of assets, the option or right confers the right to
    purchase, for each Share of Covered Stock subject to the Option
    or SAR immediately prior to the merger or sale of assets, the
    consideration (whether stock, cash, or other securities or
    property) received in the merger or sale of assets by holders of
    Common Stock for each Share held on the effective date of the
    transaction (and if holders were offered a choice of
    consideration, the type of consideration chosen by the holders
    of a majority of the outstanding Shares); provided, however,
    that if such consideration received in the merger or sale of
    assets was not solely common stock of the successor corporation
    or its Parent, the Administrator may, with the consent of the
    successor corporation and the participant, provide for the
    consideration to be received upon the
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-12
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">exercise of the Option or SAR, for each Share of
    Optioned Stock subject to the Option or SAR, to be solely common
    stock of the successor corporation or its Parent equal in Fair
    Market Value to the per Share consideration received by holders
    of Common Stock in the merger or sale of assets.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">(iv)&nbsp;Except as otherwise determined by the
    Board, in its discretion, prior to the occurrence of a Change in
    Control other than the dissolution or liquidation of the
    Company, a merger of the Company with or into another
    corporation, or the sale of substantially all of the assets of
    the Company, in the event of such a Change in Control, all
    outstanding Options and SARs, to the extent they are exercisable
    and vested (including Options and SARs that shall become
    exercisable and vested pursuant to Section&nbsp;11(b)(i) above),
    shall be terminated in exchange for a cash payment equal to the
    Change in Control Price (reduced by the exercise price
    applicable to such Options or SARs). These cash proceeds shall
    be paid to the Grantee or, in the event of death of an Grantee
    prior to payment, to the estate of the Grantee or to a person
    who acquired the right to exercise the Option or SAR by bequest
    or inheritance.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Term of
Plan.</I> The Plan shall become effective upon its approval by
the stockholders of the Company within 12&nbsp;months after the
date the Plan is adopted by the Board. Such stockholder approval
shall be obtained in the manner and to the degree required under
applicable federal and state law. The Plan shall continue in
effect until October&nbsp;17, 2011, unless terminated earlier
under Section&nbsp;13 of the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Amendment and
Termination of the Plan.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Amendment and Termination.</I> The
Board may at any time amend, alter, suspend or terminate the
Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Stockholder Approval.</I> The Company
shall obtain stockholder approval of any Plan amendment to the
extent necessary and desirable to comply with Rule&nbsp;16b-3 or
with Section&nbsp;422 of the Code (or any successor rule or
statute or other applicable law, rule or regulation, including
the requirements of any exchange or quotation system on which
the Common Stock is listed or quoted). Furthermore, the Company
shall obtain stockholder approval of any modification or
amendment of the Plan to the extent that the Board, in its sole
and absolute discretion, reasonably determines, in accordance
with the requirements of any exchange or quotation system on
which the Common Stock is listed or quoted, that such
modification or amendment constitutes a material revision or
material amendment of the Plan. Such stockholder approval, if
required, shall be obtained in such a manner and to such a
degree as is required by the applicable law, rule or regulation.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(c)&nbsp;<I>Effect of Amendment or
Termination.</I> No amendment, alteration, suspension or
termination of the Plan shall impair the rights of any Grantee,
unless mutually agreed otherwise between the Grantee and the
Administrator, which agreement must be in writing and signed by
the Grantee and the Company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Conditions
Upon Issuance of Shares.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Legal Compliance.</I> Shares shall
not be issued pursuant to an Award unless the exercise, if
applicable, of such Award and the issuance and delivery of such
Shares shall comply with all relevant provisions of law,
including, without limitation, the Securities Act of 1933, as
amended, the Exchange Act, the rules and regulations promulgated
thereunder, Applicable Law, and the requirements of any stock
exchange or quotation system upon which the Shares may then be
listed or quoted, and shall be further subject to the approval
of counsel for the Company with respect to such compliance.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Investment Representations.</I> As a
condition to the exercise of an Award, the Company may require
the person exercising such Award to represent and warrant at the
time of any such exercise that the Shares are being purchased
only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the
Company, such a representation is required.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">15.&nbsp;<I>Liability of Company.</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(a)&nbsp;<I>Inability to Obtain Authority.</I>
The inability of the Company to obtain authority from any
regulatory body having jurisdiction, which authority is deemed
by the Company&#146;s counsel to be necessary to the lawful
</FONT>

<P align="center"><FONT size="2">A-13
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">issuance and sale of any Shares hereunder, shall
relieve the Company of any liability in respect of the failure
to issue or sell such Shares as to which such requisite
authority shall not have been obtained.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">(b)&nbsp;<I>Grants Exceeding Allotted Shares.</I>
If the Covered Stock covered by an Award exceeds, as of the date
of grant, the number of Shares that may be issued under the Plan
without additional stockholder approval, such Award shall be
void with respect to such excess Covered Stock, unless
stockholder approval of an amendment sufficiently increasing the
number of Shares subject to the Plan is timely obtained in
accordance with Section&nbsp;13 of the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Reservation
of Shares.</I> The Company, during the term of this Plan, will
at all times reserve and keep available such number of Shares as
shall be sufficient to satisfy the requirements of the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Rights of
Employees and Consultants.</I> Neither the Plan nor any Award
shall confer upon an Grantee any right with respect to
continuing the Grantee&#146;s employment or consulting
relationship with the Company, nor shall they interfere in any
way with the Grantee&#146;s right or the Company&#146;s right to
terminate such employment or consulting relationship at any
time, with or without cause.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Sub-plans for
Foreign Subsidiaries.</I> The Board may adopt sub-plans
applicable to particular foreign Subsidiaries. All Awards
granted under such sub-plans shall be treated as grants under
the Plan. The rules of such sub-plans may take precedence over
other provisions of the Plan, with the exception of
Section&nbsp;3, but unless otherwise superseded by the terms of
such sub-plan, the provisions of the Plan shall govern the
operation of such sub-plan.
</FONT>

<P align="center"><FONT size="2">A-14
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B><FONT size="2">SCHEDULE TO THE JABIL CIRCUIT, INC.</FONT></B>

<P align="center">
<B><FONT size="2">2002 STOCK INCENTIVE PLAN</FONT></B>

<DIV align="center">
<B><FONT size="2">(CONSTITUTING THE COMPANY STOCK OPTION
PLAN)</FONT></B>
</DIV>

<P align="center">
<B><FONT size="2">Adopted by the Company by resolution of the
Board on April&nbsp;18, 2002</FONT></B>

<DIV align="center">
<B><FONT size="2">and approved by the Inland Revenue on
May&nbsp;21, 2002</FONT></B>
</DIV>

<P align="center">
<B><FONT size="2">(Inland Revenue Reference : X22111)</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions
and interpretation</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this schedule
these words and expressions shall have the following meanings:
</FONT>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="18%"></TD>
    <TD width="1%"></TD>
    <TD width="81%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Acquiring Company&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">where the conditions of paragraph 15 of
    Schedule&nbsp;9 are met, such company as shall be at any time
    the &#147;acquiring company&#148; as defined in that paragraph;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Adoption Date&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">April&nbsp;18, 2002;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Associated Company&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">the meaning given in Section&nbsp;187(2) of the
    Taxes Act;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Common Stock&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">common stock of the Company which satisfies the
    conditions specified in paragraphs 10 to 14 inclusive of
    Schedule&nbsp;9;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;the Company&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Jabil Circuit, Inc., a corporation resident in
    the United States and incorporated in Delaware;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Control&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">the same meaning as given in Section&nbsp;840 of
    the Taxes Act;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Dealing Day&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">any day on which the United States National Stock
    Exchanges are open for trading;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Eligible Employee&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">any Employee of a Participating Company (provided
    that in the case of a director, he is required to devote to his
    duties not less than 25&nbsp;hours per week (excluding meal
    breaks)) and is not precluded by paragraph&nbsp;8 of
    Schedule&nbsp;9 from participating in the Plan.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Market Value&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">in relation to a share of Common Stock on any day:
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;if the Common Stock is admitted to
    the New York Stock Exchange, its closing sale price (or the
    closing bid, if no sales were reported) for the immediately
    preceding Dealing Day as published in the Wall Street Journal; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">&#149;&nbsp;if the Common Stock is not admitted
    to the New York Stock Exchange its market value as determined in
    accordance with Sections&nbsp;272 and 273 of the Taxation of
    Chargeable Gains Act 1992 and agreed on or before that date with
    Inland Revenue Shares Valuation.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">For the avoidance of doubt, references in the
    Plan to &#147;Fair Market Value&#148; shall not apply to Options
    granted under this schedule.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;New Option&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">an Option over Common Stock meeting the
    requirements of sub-paragraphs 15(3)(a) to (d)&nbsp;of
    Schedule&nbsp;9 (but on the basis that the legislation governing
    the acquisition of shares in the Company is accepted by the
    Inland Revenue as being directly comparable to a change of
    control as envisaged in paragraph 15(1) of Schedule&nbsp;9),
    granted in consideration for the release of a Subsisting Option
    within the &#147;appropriate period&#148; (as defined by
    paragraph 15(2) of Schedule&nbsp;9);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Option&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">a right to acquire Common Stock granted pursuant
    to Rule&nbsp;2.2 or Rule&nbsp;7.2;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Option Certificate&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">the option certificate in the form set out in
    Appendix&nbsp;II or in such form as the Committee may determine
    from time to time;
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-15
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV>&nbsp;</DIV>

<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="18%"></TD>
    <TD width="1%"></TD>
    <TD width="81%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Participant&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">a person who has been granted an Option under
    this schedule or (where the context admits) his legal personal
    representative(s);
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Participating Company&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">the Company and any company which is under the
    Control of the Company and which the Committee has resolved
    shall participate in the Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Plan&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">the Jabil Circuit, Inc. 2002 Stock Incentive Plan;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Schedule&nbsp;9&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">Schedule&nbsp;9 to the Taxes Act;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Subsisting Option&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">an Option which has been granted and which has
    not been lapsed, surrendered, renounced or exercised in full;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top">
    <FONT size="2">&#147;Taxes Act&#148;
    </FONT></TD>
    <TD></TD>
    <TD valign="top">
    <FONT size="2">the Income and Corporation Taxes Act 1988.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of
any ambiguity or conflict arising between the terms of this
schedule and those of the Plan, in relation to Options granted
under this schedule, the terms of this schedule shall prevail as
between the Participating Companies and Optionees.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grant of
options</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the purposes
of Options granted under this schedule the powers of the
Administrator as set out at section 4(b) of the Plan shall not
apply and section 4(b) of the Plan shall be replaced by
paragraphs 2.2 to 2.11 below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options may be
granted by the Committee under this schedule to Eligible
Employees, with references to Non statutory Stock options in
section 6 of the Plan including Options granted under this
schedule, subject to the terms and conditions of the Plan as
amended by this schedule. For the avoidance of doubt, Options
granted under this schedule may not be granted to
&#147;Consultants&#148; as referred to in the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Options
granted under this schedule section 6(c) of the Plan shall not
apply. The Exercise Price of Options granted under this schedule
shall be determined by the Committee on or prior to the Date of
Grant, being not less than the greater of:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">2.3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Market
    Value of a share of Common Stock on the Date of Grant ; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">2.3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the par value
    of a share of Common Stock;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">but subject to any adjustment made pursuant to
    paragraph 5 of this schedule.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any conditions
to which an Option granted under this schedule may be subject
under section 6(d) of the Plan:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">2.4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall be based
    on such objective terms, conditions and/or provisions as the
    Committee shall determine <B>PROVIDED THAT </B>the availability
    for exercise of such an Option at a relevant time is not
    dependant on the discretion of any person; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">2.4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall be
    specified on the Date of Grant and shall be set out in full and
    enclosed with or endorsed on the Option Certificate.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where events
happen which cause the Committee to consider that any terms,
conditions and/or provisions imposed in accordance with section
6(d) of the Plan no longer represent a fair measure of
performance the Committee may vary the terms, conditions and/or
provisions to the extent that it considers appropriate
<B>PROVIDED </B>that it reasonably considers the terms,
conditions and/or provisions as varied or amended are no more or
less difficult to satisfy and <B>FURTHER PROVIDED THAT </B>the
Participants are given notice in writing of the variation as
soon as practicable.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options granted
under this schedule shall, subject to the other terms of this
schedule, be subject to the provisions of the Plan and, for the
avoidance of doubt, shall be taken into account when calculating
the applicable number of shares of Common Stock for the purpose
of section 3 of the Plan.
</FONT>

<P align="center"><FONT size="2">A-16
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Eligible
Employee to whom an Option is awarded shall be entitled within
14&nbsp;days of receipt of the corresponding option certificate
by written notice to the Company to decline to accept the Option
and upon receipt of such notice by the Company the Option shall
lapse.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options granted
under this schedule may not be transferred in any other manner
than by will. The provisions under section&nbsp;5(h) of the Plan
allowing the transfer of options by other means shall not apply
to Options granted under this schedule.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the
avoidance of doubt, references in the Plan to &#147;Incentive
Stock Options&#148;, &#147;Stock Purchase Rights&#148;,
&#147;Stock Appreciation Rights&#148;, &#147;Stock Awards&#148;,
&#147;Performance Units&#148; and &#147;Performance Shares&#148;
shall not apply to Options granted under this schedule.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The words
&#147;or such other later date as is determined by the
Administrator&#148; in Section&nbsp;2(o) shall not apply for the
purposes of Options granted under this schedule.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Option shall
be granted under this schedule at a date more than ten years
from the Adoption Date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Individual
limits</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Option shall
be granted under this schedule to an Eligible Employee at any
time if it would result in the aggregate of the Market Value
(calculated on the date when the rights were acquired) of all
the shares of Common Stock which he may acquire on the exercise
of any option which has been granted to him under:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">3.1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;this schedule;
    and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">3.1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any other
    stock option schemes adopted by the Company or an Associated
    Company and approved by the Inland Revenue excluding any
    savings-related stock option scheme approved under
    Schedule&nbsp;9;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">exceeding in amount &#163;30,000 <B>PROVIDED THAT
    </B>no account shall be taken of any such options which have
    been exercised or have lapsed.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Option
granted under this schedule to a Participant shall be limited
and take effect so that it is over the maximum number of shares
of Common Stock which, when multiplied by the relevant Market
Value, does not exceed the limits contained in this Rule&nbsp;3.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Market Value
of shares shall be calculated as at the time the Options in
relation to those shares were granted or such earlier time as
may have been agreed in writing with the Board of Inland Revenue.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exercise of
options</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An Option
granted under this schedule cannot be exercised if at the date
of exercise the Participant is precluded by paragraph 8 of
Schedule&nbsp;9 from participation in the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Options
granted under this schedule sections 6(e)) and 6(f) of the Plan
shall not apply. Instead, an Option may be exercised in whole or
in part (but not for a fraction of a share of Common Stock), by
the delivery to the Secretary of the Company or his office of:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">4.2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a notice of
    exercise in the form prescribed by the Company duly completed
    and signed by the Participant (or by his duly authorised agent),
    stating the number of shares of Common Stock over which the
    Option is then to be exercised;
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">4.2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a cheque or
    cash for the Exercise Price payable in respect of each of the
    shares of Common Stock over which the Option is to be exercised;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B><FONT size="2">PROVIDED THAT </FONT></B><FONT size="2">the
    Committee may in its discretion allow the exercise of an Option
    in any other manner which is unambiguous and substantially
    equivalent and accompanied by a remittance for the Exercise
    Price payable in respect of the Common Stock over which the
    Option is exercised. For the
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-17
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">avoidance of doubt, any alternative manner of
    exercise will be subject to the prior approval of the Inland
    Revenue.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock to be
issued pursuant to the exercise of an Option granted under this
schedule shall be allotted to the Participant within
30&nbsp;days following the date of effective exercise of the
Option.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;References in
section 5(f)(i) of the Plan to the exercise of Options by
persons other than the personal representatives of the
Participant&#146;s estate shall not apply in respect of Options
granted under this schedule.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If on exercise
of an Option granted under the schedule the Participant would be
liable to tax, duties or other amounts on such exercise and his
employer or former employer being the Company, or any Subsidiary
thereof, is liable to make a payment to the appropriate
authorities on account of that liability no option shall be
exercisable unless, prior to the proposed exercise, the
Participant shall either:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">4.5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;grant to the
    Company the irrevocable authority, as agent of the Participant
    and on his behalf, to sell or procure the sale of sufficient of
    the Shares subject to Option so that the net proceeds payable to
    the Company are so far as possible equal to but not less than
    the amount payable to the appropriate authorities so that the
    Company may then pay over the proceeds from the sale to the
    Participant&#146;s employing company and the Participant&#146;s
    employing company shall pay any income tax due on the exercise
    of the Option and account to the Participant for any balance; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">4.5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
    alternative arrangements to the satisfaction of the Company or
    the Participant&#146;s employing company and the Company is
    informed by the Participant&#146;s employing company that the
    arrangements are satisfactory; or
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">4.5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;pay to the
    Company or as appropriate the Participant&#146;s employing
    company in Pounds Sterling (whether by cheque or by
    banker&#146;s draft) the amount necessary to satisfy such
    liabilities.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to
reflect changes in capital structure</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11(a)
of the Plan will not apply to Options granted under this
schedule at a time when the Plan and this schedule are and are
intended to remain approved by the Inland Revenue under
Schedule&nbsp;9, in which case paragraph 5.2 shall apply.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to
paragraph 5.1, in the event of any capitalisation issue or
rights issue (which expression shall be deemed to include a
variation in share capital having an effect similar to a rights
issue) or any reduction, sub-division or consolidation of share
capital of the Company by which the rights of the stockholders
are altered, the number of shares of Common Stock comprised in
any Option and/or the Exercise Price shall be adjusted by the
Committee in such manner as it in its absolute discretion
determines to be appropriate <B>PROVIDED ALWAYS THAT:</B>
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">5.2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any such
    adjustment is subject to the prior written agreement of the
    Board of Inland Revenue; and
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">5.2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Exercise
    Price shall not be adjusted below the par value of a share of
    Common Stock.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee
may take such steps as it considers necessary to notify
Participants of any adjustment made under this paragraph 5 and
to call in, cancel, endorse or re-issue any Option Certificate
consequent on such adjustment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendments to
the plan and to Options</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any
alteration or addition is made at a time when the Plan and this
schedule are and are intended to remain approved by the Inland
Revenue under Schedule&nbsp;9 such alteration or addition shall
not have effect until it has been approved by the Inland Revenue.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The words
&#147;unless mutually agreed otherwise between the Optionee and
the Administrator, which agreement must be in writing and signed
by the Optionee and the Company&#148; in Section&nbsp;13(c) of
the Plan shall not apply in respect of Options granted under
this Schedule.
</FONT>

<P align="center"><FONT size="2">A-18
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Save for
paragraph&nbsp;3 of this schedule, any amount referred to in
this Plan shall be in US dollars and any conversion or
translation from any other currency into US dollars or from US
dollars into any other currency shall take place at the rates
specified by the Committee based on the prevailing published
exchange rates at the relevant time.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change of
control</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5(g)
of the Plan shall not apply for the purposes of Options granted
under this schedule.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;11(b)(iii)
and 11(b)(iv) of the Plan shall be disapplied for the purposes
of Options granted under this schedule and shall be replaced by
the following:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">If there is a &#147;Change in Control&#148; of
    the Company as such expression is defined in Section&nbsp;2(f)
    of the Plan:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">7.2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provided that
    the circumstances of the &#147;Change in Control&#148; are such
    that a New Option can be offered, the Participant may, if the
    Acquiring Company so agrees, release any Option he holds which
    has been granted under the schedule and in consideration for the
    grant of a New Option.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">A New Option issued in consideration of the
    release of an Option granted under this schedule shall be
    evidenced by an Option Certificate which shall import the
    relevant provisions of this schedule.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">A New Option shall, for all the other purposes of
    this schedule, be treated as having been acquired at the same
    time as the corresponding released Option;
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    <FONT size="2">7.2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if a
    participant is not offered a New Option, the Administrator
    shall, in lieu of the grant of a New Option, provide for the
    Participant to have the right to exercise his or her Option as
    to all of the Covered Stock. If the Administrator makes an
    Option exercisable in lieu of the grant of a New Option, the
    Administrator shall notify the Participant that the Option shall
    be fully exercisable for a period of 15&nbsp;days from the date
    of such notice and the Option will terminate upon the expiration
    of such period.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;References to
Participating Company shall continue to be construed as if
references to the Company were references to Jabil Circuit, Inc.
</FONT>

<P align="center"><FONT size="2">A-19
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B><FONT size="2">JABIL CIRCUIT, INC.</FONT></B>

<DIV align="center">
<B><FONT size="2">ADDENDUM TO THE TERMS AND CONDITIONS
OF</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">THE JABIL CIRCUIT, INC. 2002 STOCK INCENTIVE
PLAN</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">FOR GRANTEES RESIDENT IN FRANCE</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Scope of Addendum: By way of this addendum,
the Board of Directors amends the Jabil Circuit, Inc. 2002 Stock
Incentive Plan (Plan) for Participants resident of France, in
order to qualify the stock option agreement under the French law
of 70-1322 of December&nbsp;31, 1970, codified in articles
L225-177 to L225-187-1 of the &#147;Code de Commerce&#148;
(French Commercial Code).</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The following provisions shall apply to all
Options currently outstanding under the Plan that are held by
Grantees resident of France.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligibility:
</FONT></B><FONT size="2">Eligible Grantees under this Addendum
shall be limited to Employees selected by the Committee or the
Board of Directors to receive options. Employees are further
defined in the Plan to be regular employees of Jabil Circuit,
Inc. and its subsidiary, &#147;the Company&#148;, for whom
income tax is withheld by the Company or social security
contributions are made by the Company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Notwithstanding any other provision of the Plan,
options granted to any Grantee not employed by the Company at
the date of the grant will not be deemed to have been granted
pursuant to this Addendum.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares subject
to the Plan: </FONT></B><FONT size="2">Notwithstanding any other
provision of the Plan, the total number of options granted but
not yet exercised cannot give the right to subscribe to a number
of shares in excess of one third (&nbsp;1/3) of the share
capital of the Company. Options granted giving the right to
subscribe to a number of shares in excess of &nbsp;1/3 of the
share capital of the Company will not be deemed to have been
granted pursuant to this Addendum.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Grant:</FONT></B>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Notwithstanding any other provision of the Plan,
    no Options shall be granted to any Grantee holding shares of
    Common Stock representing 10% or more of the Company&#146;s
    share capital. Options granted to any Grantee holding shares of
    Common Stock representing 10% or more of the Company&#146;s
    capital will not be deemed to have been granted pursuant to this
    Addendum.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <B><FONT size="2">Time limit for granting Options:
    </FONT></B><FONT size="2">Options on shares of Common Stock
    shall not be granted beyond March&nbsp;24, 2005, being
    38&nbsp;months from the date the Plan received shareholder
    approval. Should Options relating to shares of Common Stock be
    granted more than 38&nbsp;months after the date the Plan
    received shareholder approval, then such grants shall not be
    deemed to have occurred pursuant to this Addendum.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option
Price:</FONT></B>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <B><FONT size="2">For Options granted while the Company is
    quoted on a recognized exchange:
    </FONT></B><FONT size="2">Notwithstanding any other provision of
    the Plan, the option price shall not be less than 80% of the
    average of the market value of Common Stock on the 20 trading
    days preceding the date of grant or 80% of the average purchase
    price of the Common Stock. Any option issued under the plan
    having an Option Price less than 80% of the average of the
    market price of a share of Common Stock on the 20 trading days
    preceding the date of grant or 80% of the average purchase price
    of these shares shall not be deemed to have been granted under
    this Addendum.
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">A-20
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <B><FONT size="2">Modification of the Option price:
    </FONT></B><FONT size="2">Notwithstanding any other provision of
    the Plan, the option price is not subject to modification and
    shall be adjusted only upon:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the following circumstances:
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#151;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Certain capital increases
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#151;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Issuance of convertible securities
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#151;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Distributions of retained earnings in cash or
    shares held by the company
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#151;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Capital reductions due to losses
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="1%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">OR with the express consent of the option holder.
    </FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Should the option price for any option grant be
    modified under conditions other than those stated above, such
    modifications shall not be deemed to have occurred. Furthermore,
    notwithstanding any other provision of the Plan, the Committee
    or Board of Directors shall not have the right to prescribe,
    amend or rescind the terms of any existing stock option grant
    previously granted to a Grantee without the express written
    consent of the Grantee. Modifications made by the Committee or
    the Board of Directors including the prescription, amendment or
    rescinding of the terms of any existing stock option grant
    previous granted to a Grantee without the express written
    consent of the Grantee shall be deemed not to have occurred.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transferability:
</FONT></B><FONT size="2">Notwithstanding any other provision of
the Plan:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Options issued pursuant to this Addendum are not
    transferable.
    </FONT></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Upon the death of a Grantee, to the extent
    Options were exercisable by the Grantee at the date of death,
    all such Options shall remain exercisable for a period of six
    months from the date of the Grantee&#146;s death. To the extent
    that any Options are exercised under the above conditions after
    a period of six months from the date of the Grantee&#146;s
    death, such exercise will be deemed not to have occurred
    pursuant to this Addendum.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restriction on
Sale: </FONT></B><FONT size="2">Notwithstanding any other
provision of the Plan, the Company reserves the right to
restrict the sale of any Common Stock acquired through the
exercise of an Option for a period not to exceed three years
from the date the Option is exercised. However, this restriction
shall not apply in the case of retirement or termination, if the
Grantee exercises the option at least 3&nbsp;months prior to the
date of retirement or termination.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lock-Up Period
for Grant: </FONT></B><FONT size="2">Notwithstanding any other
provision of the Plan, no options shall be granted during the
period commencing ten (10)&nbsp;business days before and ending
ten (10)&nbsp;business days after (1)&nbsp;the publication of
the Annual Financial Report, or (2)&nbsp;the release of Company
information that may impact share value.
</FONT>

<P align="center"><FONT size="2">A-21
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="right">
<FONT size="2">1183-PS-03
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B><FONT size="2">DETACH HERE</FONT></B>

<P align="center">
<B><FONT size="2">PROXY</FONT></B>

<P align="center">
<B><FONT size="2">JABIL CIRCUIT, INC.</FONT></B>

<P align="center">
<B><FONT size="2">PROXY SOLICITED BY THE BOARD OF DIRECTORS
FOR</FONT></B>

<DIV align="center">
<B><FONT size="2">ANNUAL MEETING OF STOCKHOLDERS</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The undersigned hereby appoints ROBERT L. PAVER
and CHRIS A. LEWIS, or either of them, each with power of
substitution and revocation, as the proxy or proxies of the
undersigned to represent the undersigned and vote all shares of
the common stock of Jabil Circuit, Inc., that the undersigned
would be entitled to vote if personally present at the Annual
Meeting of Stockholders of Jabil Circuit, Inc., to be held at
The Vinoy Country Club, Sunset Ballroom, 600&nbsp;Snell Isle
Boulevard, St. Petersburg, Florida 33704, on Tuesday,
January&nbsp;13, 2004, at 10:00&nbsp;a.m., and at any
adjournments thereof, upon the matters set forth on the reverse
side and more fully described in the Notice and Proxy Statement
for said Annual Meeting and in their discretion upon all other
matters that may properly come before said Annual Meeting.
</FONT>

<P align="left">
<FONT size="2">PLEASE MARK, SIGN, DATE AND RETURN THE PROXY CARD
PROMPTLY USING THE ENCLOSED ENVELOPE.
</FONT>

<P align="left">
<FONT size="2">CONTINUED AND TO BE SIGNED ON REVERSE SIDE
</FONT>

<P align="right">
<HR size="1" width="20%" align="right" noshade>

<DIV align="right">
<FONT size="2">SEE REVERSE
</FONT>
</DIV>

<DIV align="right">
<FONT size="2">SIDE&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
</DIV>

<DIV align="right">
<HR size="1" width="20%" align="right" noshade>
</DIV>

<P align="left">
<FONT size="2">YOU MAY VOTE BY INTERNET OR BY MAIL. PLEASE NOTE,
ALL VOTES CAST BY THE INTERNET MUST BE CAST PRIOR TO
11:59&nbsp;P.M. EASTERN STANDARD TIME, JANUARY&nbsp;12, 2004.
</FONT>

<CENTER>
<TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="53%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="44%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="center" nowrap><I><FONT size="1">To Vote by Internet:</FONT></I></TD>
    <TD></TD>
    <TD align="center" nowrap><B><FONT size="1">To Vote by Mail:</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">It&#146;s fast, convenient, and your vote is<BR>
    immediately confirmed and posted
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">Please return your proxy in the enclosed<BR>
    Business Reply Envelope to:<BR>
    Proxy Services<BR>
    c/o EquiServe Trust Company N.A.<BR>
    P.O. Box 8078<BR>
    Edison, New Jersey 08818-9350
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Follow these four steps, which comply with
Delaware law regarding proxies granted by means of electronic
transmission:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;Read the accompanying
Proxy Statement and Proxy Card.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;Go to the Web site
<I>http://www.eproxyvote.com/jbl</I>
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;Have the Proxy Card you
received in hand when accessing the site.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;Follow the instructions
provided.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">DO NOT RETURN YOUR PROXY CARD IF YOU ARE VOTING
BY INTERNET.
</FONT>

<P align="left">
<FONT size="2">RECEIVE FUTURE PROXY MATERIALS ELECTRONICALLY.
Receiving stockholder material electronically via the Internet
helps reduce Jabil&#146;s mailing and printing costs. To receive
future proxy materials electronically, if made available by
Jabil, go to: <I>http://www.econsent.com/jbl</I> and follow the
instructions provided. Your participation in this program will
remain in effect until you cancel your enrollment. You are free
to cancel your enrollment at any time by going to:
<I>http://www.econsent.com/jbl</I> on the Internet.
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<FONT size="2">DETACH HERE IF YOU ARE RETURNING YOUR PROXY CARD
BY MAIL
</FONT>

<CENTER>
<TABLE width="40%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="34%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="63%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <BR>
    <FONT size="2"><FONT face="wingdings">&#120;</FONT>
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">PLEASE MARK<BR>
    VOTES AS IN<BR>
    THIS EXAMPLE.
    </FONT></TD>
</TR>

</TABLE>
</CENTER>

<P align="left">
<B><FONT size="2">THE SHARES COVERED BY THIS PROXY WILL BE VOTED
IN ACCORDANCE WITH THE CHOICES MADE. WHEN NO CHOICE IS MADE,
THIS PROXY WILL BE VOTED <I>FOR </I>ALL LISTED NOMINEES FOR
DIRECTOR, <I>FOR</I> PROPOSALS&nbsp;2 AND 3, AND AS THE
PROXYHOLDERS DEEM ADVISABLE ON SUCH OTHER MATTERS AS MAY
PROPERLY COME BEFORE THE ANNUAL MEETING.</FONT></B>

<CENTER>
<TABLE width="90%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="23%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="38%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <FONT size="2">1.&nbsp;&nbsp;Election of Directors
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">FOR
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">AGAINST
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">ABSTAIN
    </FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">NOMINEES:
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">(01) William D. Morean,<BR>
    (02)&nbsp;Thomas A. Sansone,<BR>
    (03) Timothy L. Main,<BR>
    (04)&nbsp;Lawrence J. Murphy,<BR>
    (05) Mel S. Lavitt,<BR>
    (06)&nbsp;Steven A. Raymund,<BR>
    (07) Frank A. Newman and<BR>
    (08) Laurence S. Grafstein.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">2.&nbsp;To approve amendments to the Jabil
    Circuit, Inc. 2002 Stock Incentive Plan to (i)&nbsp;provide for
    an increase the aggregate number of shares of Jabil common stock
    that may be subject to future awards under the Plan as of
    November&nbsp;14, 2003 from 1,512,705 to 11,512,705 shares, (ii)
    prohibit the repricing of outstanding stock options granted
    pursuant to the Plan, and (iii)&nbsp;require stockholder
    approval for certain amendments to the Plan.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
</TR>

<TR>
    <TD colspan="11"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FOR<BR>
    <FONT face="wingdings">&#111;</FONT> &nbsp;ALL<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOMINEES</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WITHHELD<BR>
    <FONT face="wingdings">&#111;</FONT> &nbsp;FROM ALL<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOMINEES</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">3.&nbsp;To ratify the selection of KMPG LLP as
    independent auditors for Jabil.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
</TR>

<TR>
    <TD colspan="11"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="3" align="left" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<HR size="1" noshade>For
    all nominees except as noted on the line above by specifying the
    number next to such nominee&#146;s name
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">4.&nbsp;With discretionary authority on such
    other matters as may properly come before the Annual Meeting.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="60%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="90%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">MARK HERE IF YOU PLAN TO ATTEND THE ANNUAL MEETING
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">MARK HERE FOR ADDRESS CHANGE AND NOTE BELOW
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top">
    <FONT size="2"><FONT face="wingdings">&#111;</FONT>
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">The Annual Meeting may be held as scheduled only
    if a majority of the shares outstanding are represented at the
    Annual Meeting by attendance or proxy. Accordingly, please
    complete this proxy, and return it promptly in the enclosed
    envelope.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">Please date and sign exactly as your name(s)
    appear on your shares. If signing for estates, trusts,
    partnerships, corporations or other entities, your title or
    capacity should be stated. If shares are held jointly, each
    holder should sign.
    </FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="49%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="48%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <FONT size="2">DATED:&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>

</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">--------------------------------------------------<BR>
    Signature
    </FONT></TD>
</TR>

<TR>
    <TD colspan="3"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <FONT size="2">--------------------------------------------------<BR>
    Signature if held jointly
    </FONT></TD>
</TR>

</TABLE>
</CENTER>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g86079g8607901.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g86079g8607901.gif
M1TE&.#EA5`+]`/?_````````,P``9@``F0``S```_P`S```S,P`S9@`SF0`S
MS``S_P!F``!F,P!F9@!FF0!FS`!F_P"9``"9,P"99@"9F0"9S`"9_P#,``#,
M,P#,9@#,F0#,S`#,_P#_``#_,P#_9@#_F0#_S`#__S,``#,`,S,`9C,`F3,`
MS#,`_S,S`#,S,S,S9C,SF3,SS#,S_S-F`#-F,S-F9C-FF3-FS#-F_S.9`#.9
M,S.99C.9F3.9S#.9_S/,`#/,,S/,9C/,F3/,S#/,_S/_`#/_,S/_9C/_F3/_
MS#/__V8``&8`,V8`9F8`F68`S&8`_V8S`&8S,V8S9F8SF68SS&8S_V9F`&9F
M,V9F9F9FF69FS&9F_V:9`&:9,V:99F:9F6:9S&:9_V;,`&;,,V;,9F;,F6;,
MS&;,_V;_`&;_,V;_9F;_F6;_S&;__YD``)D`,YD`9ID`F9D`S)D`_YDS`)DS
M,YDS9IDSF9DSS)DS_YEF`)EF,YEF9IEFF9EFS)EF_YF9`)F9,YF99IF9F9F9
MS)F9_YG,`)G,,YG,9IG,F9G,S)G,_YG_`)G_,YG_9IG_F9G_S)G__\P``,P`
M,\P`9LP`F<P`S,P`_\PS`,PS,\PS9LPSF<PSS,PS_\QF`,QF,\QF9LQFF<QF
MS,QF_\R9`,R9,\R99LR9F<R9S,R9_\S,`,S,,\S,9LS,F<S,S,S,_\S_`,S_
M,\S_9LS_F<S_S,S___\``/\`,_\`9O\`F?\`S/\`__\S`/\S,_\S9O\SF?\S
MS/\S__]F`/]F,_]F9O]FF?]FS/]F__^9`/^9,_^99O^9F?^9S/^9___,`/_,
M,__,9O_,F?_,S/_,____`/__,___9O__F?__S/___P``````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````"P`````5`+]```(_P"O"1Q(L*#!@P@3*ES(L*'#
MAQ`C2IQ(L:+%BQ@S:MS(L:/'CR!#BAQ)LJ3)DRA3JES)LJ7+ES!C$F2ED*9`
M5E8*6K$ILZ?/GT"#"AU*M.A%G``2KLAY;>>U%0.AXD1H!8#5JUBS:MW*M:O7
MKV##BAU+MJS9LVC3JEW+MJW;MW#CRIT;MV32@U:6"H1Z;:K3IU0!6!E,N+#A
MPX@3*U[,N+'CQY`C2YY,>(5@RI@S:][,N;/GSZ!#BQZ=^>Y(TS-QYAP\,*EI
MU@:K&IW]4S;MV[ASZ]:(.F1O@:N#M[[VFJG.W[N3A[2MO+GSY[>1>_S-E#5L
MXMB!&R?('+IWC-V_B_\?3]ZN>>Z5EUYW/?`Z=^GEX^.%+[^^_?L(Z6_LK3JO
M7KY^V<17;/KA1UYX!B:HH'P%9F3:"@,V51U-`TJUW7L+XH=@AAQVF%R#%Q%V
M4X2L\#05=SP1Z*%\&Z[HXHM!@<C1A1:U"*-R-MZHXXXIR:A1BN#YR.-0.0YI
MY)$<"5F;DDCV5&234$;Y$)-.^MB51*Q`"&26%]ZU85Y@YL1D@571N*24:*89
M$94R/4D0<DRZU]Z%QOVV@HFK362<F0*Q>9*;:@8JI9\P`=KG07'N:=-@)_9E
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MO%+22Z<M7LI_LNT=GT6AK?;<SKE=DMQT!YGWWO?9_TT2WGQ3!'C@A`OE-]*'
M%PY<XHHW?EK3C!<^N..4MQ3Y1Y-7GE#FFG=^7G*<>XZAZ*3'"'GI&X6.^NH7
M7>Z1W'"S='2&JK-NNT2N=X1V5=A"Q*5[2Y&X<^_4`GAUU@;6?OOR#>4^HY*L
M_!HT[NUQ32>YV%Y(,X7`S2Z>\LR'GQ])6<YW,_('MYLTK=%[GY]-/.55/GKJ
M+OY7HW<:UWM\99+F__\`#*``!TC``FK&;T"+#87XLKUQ[24P!E'582P3%?4@
MYFC1ZYW/P,6M^8&J*F$CSGJ21Y<2FO"$*$RA"E?(PK9\SFS!TA]@NC<?`GDE
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M`%1'@SGP1@NE440?JIR1,L1IV)JB1"VSJ*AHZX]O1$U"27@WD9)4:2;%)7(4
M4\6^L`RAFWL*S4#UJ^U$KTO5TU%(0793D^54(=/R"J*JA<D,QG*C6P)`A%CV
MU+;5E*E-75A7;>D0@/H4:E14J70T>BN++FBI6PPKP\;:R8:$1Z5V)2JV,K:7
MBPT)KD*3:[SHNDTU^FR-_1Q=_61)PS&Z5:&)^V=6!#O8;/;3,G@=I%;I^$%>
MB2V.Z5%JXECZGL=2%DF$/8X^CVD9&I'VM*1*K6+'F4O>_^6GI[`=E&5I:S>K
MNM$JN0V4;-LSW":QTBJS\VUP=?O-U;KMM0II[7*9"[KB(@F,MFT(=*=[).O"
M;GG@4ZXGD<M=U)9$?2G"8]0*^Q#,W@Y\Y'V(>,N[(P1NR$*0U*0J%R<1+6V6
M=9)MH8`'3.`"&_C`*7QA8SL:H`?65;L`^N]$OC;3Y:QW7!7.UME^VAFK6%`R
MF#6@B$=,XA*;>#2OK%]AAH-&]BX$L?-58W52EF$)]REV+X9E0C(L487%>&6X
MI>^*4NS1%0/RCZI58^]^'-WMX'C"3Z;C],!4$1"9MI_SBAZAM"QD'1'YB:9D
M#Y)GJ[7"L'6('R[H0:*'->TDJ_]_EY&9].XD+-EPRLU1#(]_7(JO2W&*5K*I
MLV?5G+ZC4EDV93I7K`23%/2%;KL487*7%_3EXHRPQ4E^#U?V!TRMZ/!+C_+5
M'^^BR";"\:5.P>U.%-DQC5W,8]EAC9<0"158D[JEG`R:EXBK$>EFQ->3]M"7
M_\+@U0B(K.--Z97Y"U99C]JC7#SUC0NZ4Z$"YCJ'?O6S+47JN'*KV]-.=053
ME#E)3P32P5;0*WV(7TY6Z*,NKHF$$3LE5Z'1UM#^MKX#*ZD,ADTX-</WI,`]
M-(.9YELS6>/DN,P1+?,XW=[AI:8&M%[U'JU95J7W0R(%*F#Q1>!WH9BTK?W#
M:I-\7Z[_-OBVP>U#,:V\@K)\4)%/A6Z,F!OB\<E=E'N,)0];Q-#$+FB9*HH4
M,1WO,KRRE71[*>5'$OVH?\X?N*)>=*$RW;W'`MI@D*Z_#<**T(,#MNYLC/.^
MI>3A4&72?E%B7<29<]G]#7+9&[9;W+1=)'B[N8/D/O>UU9TVIN01WN(K$H;W
MG6G-C:?<:OX1O1^^I'_7YN[(/A*Q/_X[WKW[7Z%'>9(P_O*03[PZDT;XDS@<
M])B?R=:TLRRT/X\BFN>?D#X_$L>C?C;?.A]6B(<J'\4TJ:4;%=;IU?G;YZ8W
M6_4PE;G3>RR+FN3R'=[/@PAW%LG(]B*AO?&-@AJ!^IRQP">^_Q6E!_U^8B_2
M6P4IB`S_DM)OW^[,;PWAZ=3\\6NU^DB&-89O4B(<IE>6?38P5--_.S<;@*)]
MI@=<[Z<;W;<HWP=^$+AA$>06;31Q/^0UW+,KWF<^E^)G!L,H.Q-[;F)Y+X%]
M"R@3W[)(I0<I]:=ZC'$5:0945!%$):(>OS08,D,GW0<N,M=7L28NF:4;3V*"
M)D&")S@4_($5)J)2!0@2ZX-9?`=53K8=D**#WG9P7.,Q^M*$1*(?[.<3"'B$
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M3?W34!QV8I&A?/SXCP`9D`(I&=UG+?$SB/=BB#1T(I]VCJ*%8!`9D1(YD119
M8.AA&!_FB7I21_BS2:T81<[5=,WQA^VX$COX%0AY;DL10F(VA\PV>@]2?+C!
MCB6)$2<I5>__V'-OYD28IFD5^9-`B9,TN23J6)-5QATQV%`I&1&;$FU'YI)Y
M-I!2.96.X5,.R8U&:9,Y&1M+N3(NU9$4MRSP1#A8R7W1F)6\42,5<3-.T4`,
MB6SJA(DCB8MH24:)M971=SSU2&B9IDY#211_69<,L7Z'B(W+I$_>*!YR*9A:
MN1!FJ)'B%T]EF1N3R9B#F7:3A9<J$Y?Q2!XD:9EI&4$!%CQ=&8L.^2*R:!^!
M"9K\-B)982OT]XG<M)JWD9JL:1$RM7N,*(^;R4W/:!^5>9NMN5%LR2>&J1%C
MF3;!V1R_*9Q3LCDL(X>:Z562)Y.J29?.N2:.>6?9TX+(1)O)`9Z"_PDBBU2:
MO8E,S9D@BYF=WJ1&YDF=R+2<WR&?ENDGQSE-I[D@P^<BG\F>"]$@?!F!YOB=
MUIDAXFF45H:=]ZDWMY28+F*;_MF>)P69NMA*]%D>%YJ54O2>)I&<\+*>0W:6
MV>DCL:F,E72@X^&@$>I15T45''HW^7F=\Y1/?EB@[-F`4/6B?Q.C]9&A-O='
M"[H1(.J<-TE5`FJ:>S2D,)HSA_@2/BJ-1<H5.NIV802A+L%2."BB)M&?*QJE
M6S&E>,>CGFFC*@&%6IJ`15F3..I'T]FA8CH>Z?DPA`&#]A@35GJC,^&88(I+
M\$,G%_>F\WFF?Z."=/J15RJH:`F@K7B?\O^37P^T=@$6E)(ZJ91:J99ZJ9B*
M0H9%H5:4(L:CAPU)E:(J8B$6D%KA'YU&E;8XJJS:JJXZIQO'J=%'/T\)11Z*
M)G'J+JNJ2,AR%:Y7>&0ZGA#1G101=033DK8*J,[QI!51/"8"I%J6IA^AI(EZ
ME[S9/%$!+-C1D[QV._OIA\!$CK0:%;E:IHC:C@69HVWZGY_%8H'4EZB#HKX3
MK@^G94&Z$5S*FFOJHNL:77=X1\;F8/?8.2I*/O1:$;LBKNL8K`CJDT;:HDS9
M46VI7\:IK+O!K`YAAH8J,;98)=)ZA%ZJ%7MJBD;EI]#).M2:.L!TKT3%L)YW
MKK,8LIEYK6ZZ.O+_BIF=V6OE:A([6Y+[>A#$:J*D4[!IV+&U]X`+:[&[E*<U
M,;*8H[2T@;&!H54LJUT]"ZP?NWUE%*#]2J6BD[*1YJP;EK,H`;:;N%.O*9;>
MJ3EWBJ\'VQ()^ZLZ*[?O5XM;X2I5JR=0"Y@NBR5O6RA7VWB!"XB0XH]92AUK
M2SF#&WT>1K<>$:T+F[6@EX((P82)VSA2J[%$`4R.VZQ]BTR1:K0DT7VQ$[21
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M$[J^9`M5]^ND^],^'M&[;2.Y>8,45[&Q,+&UL</#.E4XFIB[@!O#-TLM4.Q+
M+!Q.'[S%(/$;C^FK)RRT>U/!Q[&\X9NJT)=!:)P1X&L7!;PT-:Q\\+=%7(&W
MEZLVPDC%)'/!,$?$;]P1&RS#T3L42FR+7IS#Y/]*M7/*OUE\LGPSI$HLP*:G
MQD"[7<4CN#/L.YL<+X2ZDLRY14-L5H\,E\UDHP&<R%CFQ[L;04$LR/([)1"<
MQ`M<R@X\9C9SO6.W-(C!OUCCOF=GR3"L58D,N;?\KNBTP*H,CNLJJTS99WO"
MM26<J97:R]1\S29D0]B\S=PLLC0[1OW+E!SDEK4T'Z]ZSANRCX1J8IVFSI\1
MKBBVJJ)!'4F)S@#9SNYLSXY!NHOAS!LW,3(4E@\F5A$SS;:,E*R\'`GMQNSK
M(-IL06JR=4N\S*9#7"C9M4&5A]N*S-UZ,O9BT++#QR?QRJX;Q]Z&E!+]FH$'
M4A_,(3*+%;K,?RE7JV;_<JLYERXB'8O`7,G$W!'&;+X<W1]<4:<&<LB7,60H
MS5,Q_48:C:PU7<A>2XU4ZX<YG3"=#+2Q_"83]&1"#<'2#!TI[5DODJY!Q;3T
ME!5@V1YB"=4@88:(0LE(`\\_0=)NW,90@\/W0JA8862[,<=375^H4LZT)+#P
M6BH:J\ZY<\A,G+1PW;X]313[ZVDK#11&O=C"%MC"I!V&:M//H;&A"],=*M=&
M@<5C]\-!H8\J7;Y_T\50DGG.HKFNJ82FE[L4W7B#_",-/9.-G-J6[<:??-"A
M5UVD$L!`I(324]L;1<?AN=`(G-4_T=6G^M76(J6=-=&"XMJ!\K:Y2UJ-9M*F
M_VC=ST'71Q'#*1K9U2C-]O+;R%T?V(TF8AM%1OL7(5?,HOT=9KC%MZTAA\O;
M<&+#E25Z4/+>5;U8SX/(UG?5F@;<3K+?OBS6<^6*Z.C'[[VE]0V<=NW8C;T@
M;`963@7A,"*VJ:RKCYT@@1PDIJUN!?W@`![A'1OB%+[$*Y+)/T+>'?+1'NWA
M':)EX.+B,,K<''+?);W>W-?+2]/>,**Y*_SB%^XAT>J[/RV]B5'D.$[B]ZN"
MC_Q/&?Z@2SY^67ZV4WX?FCO@;2W,4`+D^'GBA/OE\A'F,-[C(YXF$SY];XZN
M:NZ9]"KFYR9WCZG@@8KF=N5^TB2&1@Y9Q!SGS0U"-O_CX\-MQ#:'M*K]>(/^
M1<JWT_-K+(",Y_`BXQC1:6$3A)-;YWLXZ8J^EM/#QG.N-+`]WLC%&AIG?)%>
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M#>]HDM^`1^.88^_!Q4PB1],#/=K5R&-%O_.B12TTWW!(CS3F?EK,1#,\R=%!
M+_5[;7XS'Q*56!Y69?/`&O-QC?%A54Q,'?9`#Y(&6(V(>-XE0;_1`;_7#A3$
M'KYZ_>BE8O4.+3OPP_+$YO)+4O:X%&"$7^Q97R.+8>UMWB<87QB3CW[._7/J
MO31;_SC@NC4?#QB0.E(ZON1A?=3A2\S&_OC]O!831';V:OD,K_E53([^8?C-
MRO3QPE+^KF!_PM<6!\F4/8[J`_E\KL5YYDD-OQ83SV//R'2OTC)A`4HO.\YH
M+:<`_V_8I=I:-"_O:0R#>*O\,@%LK<46C.$]DY%"28D6,>BX"0LA4(CH5*WS
MRZ\;MA_^H`X0UP0.)%C08$%6K`Y>8[4"P,,5"@=:L?+0(L6%&35N%,B*XD<K
M#BU:7$&0%420*2NJ9`ERY$N8,67"7-$2Y(J:*0'85#G3YT^@.7FF5%AQY\Z3
M.*UP9-HTHT>1#ZU(=&K0X\ZE5;5NY;I0)$ZI(JEV;0J`[%FT!"NFU9K4:M2(
M'4..Q,BVH,JH0&&.O694[U\`0H=^Y,OVY-BU=A<.;@GX9\F^,07S+&SW*LFI
M6QUNQJG8\T*//24#2.HPJ=G/!U&G9GTP<6N3%#%/;7@QX?_<BUFYAG;IV/=D
MV8%M5H:MV.'2VL2+D^7],>_>@<]]_P7>LG!PE,I-DK;84/=RT"RE3S?*4/A#
M\-=6IT_]>GE(O"-KYJVK,?YTO38'G@3*WC]#D3+[+[T`M\,/L/$.?&FP^8Z*
MB#3&AE)PPIEPD\BH[XI;;T"VW"NNOHEBJJLY["@4CB7MFCHLQ!0Y=/'%M-RZ
M*S"$)#0Q-[]@$BT_&E>Z\4<@22+H./8VA+$K#UL[*</(?M3/1?Z,:O%(*JOD
M""71IE1QJ`1-[&VUJ.X+\L8(RS.P2"O)2I(UJ0S*43[KTMQ22SGKM/)-F>3D
M$C"J^!L31Y7`,\TJ&L$STLZ-UDS_C<@9(4/T44@C710L.B55"\,9?4-13Z`J
M[>I02]4"]3-&174T5%135=6@05=5L=""`E3)TSL'HW6K45%5U+,HW7SH5E>#
M%98]8$/MTJ)A(<TUU%T5@TJFFHI-=EIJJX7-.>%D%=#:*I>UM%G6P#J56W++
M-3>])8^J:-QS7?164G##9;==>NNUMZK,5FSH7G>GC9=?@`,6&,V!!WPWTG\+
M5GAAAAM^]&!($W9X8HHKMO@SB!^5^&*.._;XXX$R1G1CD$LV^62`1;:39)1;
M=OGE856NDV68:[;Y9CEEYA1GGGOVV4Z=TZ3Y9Z*+-AI7>"DB#L\_FW;Z::BC
MEGIJJJNV__IJK+/.$U*/!)I7H#+#9A`KL<LV^VR;CD-[;;;-/K%MN.-N26VY
MZ[;[;;OS9AMOO5N*U-%MJQS:U<%=W0G@PE<]G-_%+5X-1"H33U7R5!NWEW)4
M+:]7\XD?9Q)&S+\-VO#/SPW=4L[;3;UASW?F]W1)5S<7]DAE+]=VA0&7]C/:
M-1Y=\=)G_UU5W+DM?N"NK_GZ:.:;=_YRI9^7?GKJJ[?^>NRSUWY[[KNO-G"/
MQDJH+R;YT@VQ[\*/;?>G,H0<N<`90D@B\0,'47W6DI_(?;#+OPOL^MTE@*T!
M'_B*XC^UR$6`L;&*DMS'/_PIT"0*T1\`&:@6]F6D@.([8`,3V/^7`4X$?2`K
M2?+B$A>OD:\S8*L)`^$3':]1$#F0.6$&%PB9?>U++J$AC5PV5,+7=$V'-)0A
M@-JC$!R6T%%=H\@*^]+"_4RE)HO+C*.`:,'EG>6*RD,B54K21,!!48$-@F'R
MJC@1,7KFC$;4(4.F(IL+(7%(RIM+&;.R1N\<3S-NC"$780A&-*9/BBO!HAW[
MY\2+"0@RJ*F/&-<#(@&-*"M=LZ)`&!D\LN!P*75YG!F_\\.0P3"%R:.D*#VC
M2?)94H2Z>>1WWM@1U*!2D2GDHQHELLC^18>5E\+@^.@(0EJB,I>+4B`G5SE,
M87+QEIN\)2V9",LCTO*2N@SE_C`XR5C_%K.9N^Q8ZSH#N/.Y\I/63*4JO5F2
M+")IEX?1WWK&U<IJJF=_]3%+ZQ1#3_/<)IZU'*8J"6(6?'H.GYXYI_+(R<]R
M^M.:`N5F0N^Y3M*T<XX)G>9"Y]E0A2JFH.",(B_W*<^`'K2"CB.G0R8:&7%V
M=)@A1>;P7,/-):FT(2C,Z*E6P]!0VM,N`XVI!%'J480R<9<XS2A;[&E24Q)2
MI!G"9?\&ZM"=PK1QI,1)!_TYKJ:2[ZD(M<M1W1FBE/J4CRPMIU(YUKIG-9-%
M!]T6/8L"4"7"KU4/K:9L(+.MF?[SI/)D(8"6TL.UA,2O:N2F72VXUGX&[JY#
MO>A'TX+6N:@5_VP]3.P`B<I7J':HL.LZ+("^R,U3)>^R7TT-9%MUJHI0I3Z*
M[6<]V4K9BWG.A)^]BVZV"LE7NC&'64&D9D.)PQX::3TZQ:QNP4E**?)NE\!5
MB)%6BU%?DA4DCD6+;'E+6Z!NM2_QG*Y"(>=;53*WN*K$)R2Y^Y%X^A)C^YLM
M5)^[S^@RMI^9G=@L\<FNMDXRK'L=*T;M@DKKLDJOM'3L2,<U4K8`F+U,RJ]/
M?2G'L:HUF3O=YG+=I%K]?E"WP?3I=Q.LP`#'RIE+06T4)2S!!_.NPK^],#GU
MEV)92K:S%]MB#TO)QS:6=808O*!ZBJAB@SXQA9'LXH"#_-&1%I`U:ZL4K$$%
M)$34WI%^0BD*A`UJ1BN?LI8V)K$"<UR7;0EFE%(^,GW3PF0:`A.8*%RC%;N[
M13Q2F9BB+2(JOTQFOT9OC5>&GQ$_9K]\8;A^F1%D)`5IOO@YJ]!@B^(#D8,^
M_>YXA["I8&@8S=[8$/JBX5R@2I>,/@H*.M-%:73T9EQI4W\&U7=L=(TZ0C^0
BJ#:$*2$@J!DBZD:3VJGU23*NO?=K8`=;V,,F=K'E%!``.S\_
`
end

</TEXT>
</DOCUMENT>
</SUBMISSION>
