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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000015615-03-000011.txt : 20030428
<SEC-HEADER>0000015615-03-000011.hdr.sgml : 20030428
<ACCEPTANCE-DATETIME>20030428161319
ACCESSION NUMBER:		0000015615-03-000011
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20021231
FILED AS OF DATE:		20030428
EFFECTIVENESS DATE:		20030428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASTEC INC
		CENTRAL INDEX KEY:			0000015615
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER, SEWER, PIPELINE, COMM AND POWER LINE CONSTRUCTION [1623]
		IRS NUMBER:				650829355
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08106
		FILM NUMBER:		03666979

	BUSINESS ADDRESS:	
		STREET 1:		3155 N W 77TH AVE
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33122
		BUSINESS PHONE:		3055991800

	MAIL ADDRESS:	
		STREET 1:		3155 NW 77TH AVENUE
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BURNUP & SIMS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>proxyschedule14a.htm
<DESCRIPTION>PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A001></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SCHEDULE 14A </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Project" -->
<A NAME=A002></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Rule 14a-101) </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A003></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INFORMATION REQUIRED
IN PROXY STATEMENT </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A004></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SCHEDULE 14A
INFORMATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Project" -->
<A NAME=A005></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proxy Statement
Pursuant to Section 14(a) of the </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Default" -->
<A NAME=A006></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Securities Exchange
Act of 1934 (Amendment No. _____) </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Filed by the Registrant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;    |X|<BR> Filed
by a Party other than the Registrant&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;    |_| </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box:  </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
                                                          Preliminary Proxy Statement<BR>
                |_| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;     Confidential,    for
                                                              Use of the Commission Only
(as permitted by Rule 14a-6(e)(2))<BR> <A NAME=A007></A>|X|&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; Definitive Proxy Statement<BR>|_|&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
Definitive Additional Materials  <BR>|_|&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;      Soliciting Material
Pursuant to Rule 14a-11(c) or Rule 14a-12 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A008></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MASTEC, INC. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Center Italic-TNR" FSL="Project" -->
<A NAME=A009></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>(Name of Registrant
as Specified in Its Charter) </I></FONT></P>

<!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Project" -->
<A NAME=A010></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>N/A </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Center Italic-TNR" FSL="Project" -->
<A NAME=A011></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>(Name of Person(s)
Filing Proxy Statement, if other than the Registrant) </I></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Payment of Filing Fee (check the
appropriate box):<BR> |X|&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; No fee required<BR> |_|&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; Fee computed on table below per Exchange Act
Rules 14a-6(i)(1) and 0-11. </FONT></P>

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     <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
          <TR VALIGN=TOP>
          <TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

           Title of each class of securities to which transaction applies: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 5- TNR" FSL="Project" -->
     <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
          <TR VALIGN=TOP>
          <TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

           Aggregate number of securities to which transaction applies: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

<!-- MARKER FORMAT-SHEET="Para (List) Flush Lv 5- TNR" FSL="Project" -->
     <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
          <TR VALIGN=TOP>
          <TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
           Per unit price of other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is
          calculated and state how it was determined): </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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     <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
          <TR VALIGN=TOP>
          <TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

           Proposed maximum aggregate value of transaction: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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     <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
          <TR VALIGN=TOP>
          <TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

           Total fee paid: </FONT></TD>
          </TR>
          </TABLE>
          <BR>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; Fee paid previously with
preliminary materials. <BR>|_| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check
box if any part of the fee is offset as provided by Exchange Act Rule 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></P>









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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1) </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Amount
Previously Paid:  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2) </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Form,
Schedule or Registration Statement No.:  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3) </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
         Filing
Party:  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD ALIGN=RIGHT WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4) </FONT></TD>
<TD ALIGN=LEFT WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Date Filed:  </FONT></TD>
</TR>
</TABLE>
<BR>


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<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A012></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[GRAPHIC OMITTED] </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A013></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NOTICE OF 2003 ANNUAL
MEETING OF SHAREHOLDERS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Project" -->
<A NAME=A014></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>To our shareholders: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
2003 Annual Meeting of Shareholders of MasTec, Inc. will be held on Friday, May 30, 2003,
at 9:30&nbsp;a.m., local time, at our corporate headquarters located at 3155 N.W.
77<SUP>th</SUP> Avenue, Miami, Florida 33122-1205. At the Annual Meeting, shareholders
will be asked to vote on the following proposals: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The election of three directors as the Class II directors to serve until the
          2006 Annual Meeting of Shareholders; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The approval of the MasTec, Inc. 2003 Employee Stock Incentive Plan; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The approval of the MasTec, Inc. 2003 Stock Incentive Plan for Non-Employees;
          and </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Such other business as may properly be brought before the Annual Meeting, and at
          any adjournments or postponements of the Annual Meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
proposals are discussed more fully in the Proxy Statement accompanying this notice.
Shareholders of record at the close of business on March 21, 2003 are entitled to notice
of and to vote at the Annual Meeting and at any adjournments or postponements of the
Annual Meeting. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
shareholders are cordially invited to attend the Annual Meeting in person. However, to
ensure that your stock is represented at the meeting in case you are not personally
present, you are requested to mark, sign, date and return the enclosed proxy card as
promptly as possible in the envelope provided. Return of the proxy card will not prevent
you from voting in person at the meeting should you decide to do so. As an alternative,
all shareholders are encouraged to vote by telephone or online and enroll for electronic
delivery of future proxy and other materials. Please go to <U>www.mastec.com</U> under
Investor Relations or follow the instructions accompanying your proxy card for more
information and enrollment. </FONT></P>

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<A NAME=A015></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By Order of the Board of
Directors, </FONT></P>


<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U>/s/ Austin J. Shanfelter</U><BR>
Austin J. Shanfelter, President and Chief Executive Officer<BR>
Miami, Florida April 25, 2003 </FONT> </P>






<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>We urge each shareholder to
promptly sign and return the enclosed proxy card or to use telephone or Internet voting as
described in the proxy statement.</B> </FONT></P>


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<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A016></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[GRAPHIC OMITTED]  </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Right-TNR" FSL="Project" -->
<A NAME=A017></A>
<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 25, 2003 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A018></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROXY STATEMENT </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A019></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 ANNUAL MEETING OF
SHAREHOLDERS </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<A NAME=A020></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TO BE HELD MAY 30, 2003 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors of MasTec, Inc. is furnishing this Proxy Statement to solicit proxies
on its behalf to be voted at the 2003 Annual Meeting of shareholders of MasTec to be held
at our corporate headquarters located at 3155 N.W. 77th Avenue, Miami, Florida 33122-1205,
on Friday, May 30, 2003, at 9:30 a.m. local time. At the Annual Meeting, our shareholders
will be asked to vote on three proposals, which are described in greater detail in this
Proxy Statement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Proxy Statement and accompanying proxy and the Annual Report on Form 10-K containing the
financial statements for the year ended December 31, 2002 are first being mailed or
transmitted electronically on or about April 25, 2003 to shareholders of record at the
close of business on March 21, 2003. All properly executed written proxies and all
properly completed proxies submitted by telephone or via the internet will be voted at the
Annual Meeting in accordance with the directions given in the proxy, unless the proxy is
revoked before the meeting. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Only
holders of record of shares of common stock at the close of business on March 21, 2003 are
entitled to notice of and to vote at the Annual Meeting or any adjournment or postponement
of the meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A021></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>VOTING </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A022></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>General </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
securities that can be voted at the Annual Meeting consist of our common stock, with each
share entitling its owner to one vote on all matters brought before the Annual Meeting.
Only shareholders of record at the close of business on March 21, 2003 are entitled to
vote at the Annual Meeting. On the record date, 48,035,674 shares of common stock were
outstanding and eligible to be voted at the Annual Meeting and there were 2,152 record
shareholders. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A023></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proxies </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you are not present in person at the Annual Meeting, your shares can be voted only if
represented by proxy or if you vote telephonically or online. The shares represented by
your proxy will be voted in accordance with your instructions only if you properly
complete, sign and return the accompanying proxy card to our Secretary prior to the Annual
Meeting or vote your ballot telephonically or online. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
may be eligible to vote electronically through the Internet or by telephone. Please go to
<U>www.mastec.com</U> under Investor Relations or follow the instructions accompanying
your proxy card for more information on voting by telephone or online and registering to
receive future proxy and other materials online. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
not wishing to vote telephonically or electronically through the Internet or whose proxy
card does not reference telephone or online voting information should complete and return
the enclosed paper proxy card. Signing and returning the proxy card or submitting the
proxy via telephone or online does not affect the right to vote in person at the Annual
Meeting. If no choice is specified on a returned proxy card, the shares represented by the
proxy will be voted for the election of the three nominees for director, in favor of the
approval of the MasTec 2003 Employee Stock Incentive Plan (the &#147;Employee Plan&#148;),
in favor of approval of the MasTec 2003 Stock Incentive Plan for Non-Employees (the
&#147;Non-Employee Plan&#148;), and in the discretion of the holder of the proxy on all
other matters that may properly come before the Annual Meeting. </FONT></P>

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<A NAME=A024></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Quorum and Vote Required </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
presence, in person or by proxy, of a majority of the shares of common stock entitled to
vote is necessary to constitute a quorum at the Annual Meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
a quorum is present, directors will be elected pursuant to Proposal 1 by the affirmative
vote of a plurality of the shares of common stock voting in person or represented by proxy
at the Annual Meeting, which means that the three nominees must receive the most
affirmative votes to be elected to the Board of Directors. In voting for Proposal 1 to
elect nominees to the Board of Directors, shareholders may vote in favor of all the
nominees or any individual nominee or withhold their votes as to all the nominees or any
individual nominee. In accordance with Florida law, votes that are withheld will be
counted in determining whether a quorum is present but will have no other effect on the
election of directors. If a quorum is present, for Proposals 2 and 3 involving the
approval of the Employee Plan and the Non-Employee Plan, you may vote in favor of each
proposal or against each proposal or may abstain from voting. The vote required to approve
each of Proposals 2 and 3 is governed by Florida law and is the affirmative vote of the
holders of a majority of the shares of common stock represented and entitled to vote at
the Annual Meeting. As a result, abstentions will be considered in determining whether a
quorum is present and the number of votes required to obtain the necessary majority vote
and therefore, will have the same legal effect as voting against each proposal. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of March 21, 2003 (the record date for the Annual Meeting), our directors and executive
officers beneficially owned or controlled approximately 24,396,266 shares of our common
stock (2,420,993 of which are shares beneficially owned through options exercisable within
60 days), constituting approximately 51% of the outstanding common stock. We believe that
these holders will vote their shares of common stock in favor of the nominees for
Class&nbsp;II directors, in favor of the Employee Plan and in favor of the Non-Employee
Plan. Therefore, the presence of a quorum and the election of the director nominees and
approval of the Employee and Non-Employee Plans are reasonably assured. </FONT></P>

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<A NAME=A025></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Revoking Your Proxy </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
proxy given pursuant to this solicitation may be revoked at any time prior to its exercise
(1) by written notice delivered to our Secretary at 3155 N.W. 77<SUP>th</SUP> Avenue,
Miami, Florida 33122-1205, (2) by executing and delivering to our Secretary a proxy with a
later date, (3) by attending the Annual Meeting and voting in person or (4)&nbsp;by
submitting a telephonic or electronic vote with a later date. With respect to telephonic
or electronic votes, the last vote transmitted will be the vote counted. Attendance at the
Annual Meeting will not, in itself, constitute revocation of a proxy. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you hold shares of our common stock in street name and wish to vote in person at the
meeting, you must present a recent proxy validating your ownership of the shares of common
stock intended to be voted from your bank, broker or other nominee that holds of record
your shares of common stock and proof of identity for entrance to the meeting. </FONT></P>

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<A NAME=A026></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Costs of this Proxy </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to soliciting proxies through the mail, we may solicit proxies through our
directors, officers and employees in person and by telephone or facsimile. Brokerage
firms, nominees, custodians and fiduciaries also may be requested to forward proxy
materials to the beneficial owners of shares held of record by them. All expenses incurred
in connection with the solicitation of proxies will be borne by MasTec. </FONT></P>

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<A NAME=A027></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Voting by Participants
in the MasTec 401(k) Retirement Plan </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separate
proxy cards are being transmitted to all persons who have shares of our common stock
allocated to their accounts as participants or beneficiaries under the MasTec, Inc. 401(k)
Retirement Plan (the &#147;401(k) Plan&#148;). These proxy cards appoint Wells Fargo Bank,
who acts as Trustee for the 401(k) Plan, to vote the shares held for the accounts of the
participants or their beneficiaries in the 401(k) Plan in accordance with the instructions
noted thereon. <B>In the event no proxy card is received from a participant or beneficiary
or a proxy card is received without instructions, or in the event shares are not yet
allocated to any participant&#146;s account, the Trustee will vote the shares of stock of
the participant and any unallocated shares &#147;FOR&#148; each of Proposals 1, 2 and 3 in
this proxy statement. </B>The Trustee does not know of any other business to be brought
before the Annual Meeting but it is intended that, if any other matters properly come
before the Annual Meeting, the Trustee as proxy will vote upon such matters according to
its judgment. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
401(k) Plan participant or beneficiary who executes and delivers a proxy card to the
Trustee may revoke it at any time prior to its use by executing and delivering to the
Trustee a duly executed proxy card bearing a later date or by giving written notice to the
Trustee at the following address: Wells Fargo Bank West, National Association, Attention:
Leslieann Gallagher and Andrea Stellish &#151; C7301-027, 1740 Broadway, Denver, Colorado
80274. Under the terms of the 401(k) Plan, only the Trustee of the 401(k) Plan can vote
the shares allocated to the accounts of participants, even if such participants or their
beneficiaries attend the Annual Meeting in person. </FONT></P>

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<A NAME=A028></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROPOSAL 1 </FONT></H1>

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<A NAME=A029></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ELECTION OF DIRECTORS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Nominating and Corporate Governance Committee of the Board of Directors has nominated each
of Austin J. Shanfelter, William N. Shiebler and John Van Heuvelen to stand for
reelection at the Annual Meeting, to hold office until the 2006 Annual Meeting and until
their respective successor is elected and qualified. Their current term as Class II
directors expires at the 2003 Annual Meeting. The Board of Directors currently is composed
of nine directors elected in three classes, with three Class I, three Class II, and three
Class III directors. Directors in each class hold office for three-year terms. The terms
of the classes are staggered so that the term of only one class terminates each year. The
terms of the current Class II directors expire at the Annual Meeting; if elected, the
nominees for Class II directors will serve until the annual shareholders meeting in 2006.
The terms of the Class III directors expire at the annual meeting of shareholders in 2004
and the terms of the Class I directors expire at the annual meeting of shareholders in
2005. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional
background information regarding the nominees for election is provided below. MasTec has
no reason to believe that any of these nominees will refuse or be unable to serve as a
director if elected; however, if any of the nominees is unable to serve, each proxy that
does not direct otherwise will be voted for a substitute nominee designated by the Board
of Directors. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The
Board of Directors recommends that you vote <U>FOR</U> each of the nominees named above.
Unless otherwise indicated, the accompanying form of proxy will be voted <U>FOR</U> the
election of each of the nominees for election as a Class II director named above.</B> </FONT></P>

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<A NAME=A030></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Information as to
Nominees and Other Directors </FONT></H1>

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<A NAME=A031></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>Nominees for Class II
Directors</I> </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Austin
J. Shanfelter,</I> 45,<I> </I>has been our Chief Executive Officer and President and a
member of the Board of Directors since August 2001. From February 2000 until August 2001,
Mr. Shanfelter was our Chief Operating Officer. Prior to being named Chief Operating
Officer, he served as President of one of our service operations from January 1997. Mr.
Shanfelter has been in the telecommunications infrastructure industry since 1981. Mr.
Shanfelter has been a member of the Board of Directors of the Power and Communications
Contractors Association (PCCA), an industry trade group, since 1993. He is also the
Chairman of the Cable Television Contractors Council of the PCCA. Mr. Shanfelter has also
been a member of the Society of Cable Television Engineers since 1982 and the National
Cable Television Association since 1991. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>William
N. Shiebler,</I> 61, has been a member of the Board of Directors since June 1999. Since
March 2002, Mr. Shiebler has been a Managing Director of Deutsche Bank and Chief Executive
Officer of the Americas for Deutsche Asset Management. Mr. Shiebler was a Senior Managing
Director of Putnam Investments, a Boston based investment management firm, and President
of Putnam Mutual Funds from 1990 until 2000. Before joining Putnam, he was President and
Chief Operating Officer of Dean Witter Reynolds Intercapital, the investment management
division of Dean Witter Reynolds, Inc., and Executive Vice President and director of Dean
Witter Reynolds, Inc. Mr. Shiebler is a member of the Board of Directors of Oxigene, Inc.
and Attensity, Inc. Mr. Shiebler also is a director or trustee of a number of private
companies and not-for-profit charitable institutions. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>John
Van Heuvelen, </I>56, has been a member of the Board of Directors since June 2002. Mr. Van
Heuvelen spent 13 years with Morgan Stanley and Dean Witter Reynolds in various executive
positions in the mutual fund, unit investment trust and municipal bond divisions before
serving as president of Morgan Stanley Dean Witter Trust Company from 1993 until 1999.
Since 1999, Mr. Van Heuvelen has been a private equity investor based in Denver, Colorado.
His investment activities have included private telecom and technology firms, where he
still remains active. </FONT></P>

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<A NAME=A032></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>Class III Directors</I> </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Joseph
P. Kennedy II,</I> 50, has been a member of the Board of Directors since October 1999. Mr.
Kennedy is Chairman and President of Citizens Energy Corporation, a not-for-profit energy
provider that he founded in 1979, as well as Chairman and/or President of a number of
related companies. Mr. Kennedy served six terms in the U.S. House of Representatives
during which time he was a member of the House Banking and Financial Services Committee, a
senior member of the House Veteran&#146;s Affairs Committee and the co-chair of the Older
American Caucus. He also served as the ranking Democrat on the Housing and Community
Opportunity Subcommittee. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Arthur
B. Laffer</I>, 62,<B><I> </I></B><I></I>has been a member of the Board of Directors since
March 1994. Dr. Laffer has been Chairman of Laffer Associates, an economic research and
financial consulting firm, since 1979; Chief Executive Officer, Laffer Advisors Inc., a
broker-dealer, since 1981; and Chief Executive Officer, Laffer Investments, an investment
management firm, since 1999. Dr. Laffer is a director of Nicholas Applegate Growth Fund,
Oxigene, Inc.,&nbsp;Vivendi Environment and Petco Animal Supplies. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Jose
S. Sorzano,</I> 62, has been a member of the Board of Directors since October 1994. Mr.
Sorzano has been Chairman of The Austin Group, Inc., an international corporate consulting
firm, since 1989, a director of Ultra-Scan Corp., a biometric privately held company, and
a director for CIPE, the Center for International Private Enterprise. Mr. Sorzano was also
Special Assistant to President Reagan for National Security Affairs from 1987 to 1988;
Associate Professor of Government, Georgetown University, from 1969 to 1987; and
Ambassador and U.S. Deputy to the United Nations from 1983 to 1985. </FONT></P>

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<A NAME=A033></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>Class I Directors</I> </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Jorge
Mas</I>, 40, has been our Chairman of the Board of Directors since January 1998 and a
director since March 1994. From March 1994 to October 1999, Mr. Mas was our Chief
Executive Officer. In addition, Mr. Mas is the Chairman of the Board of Directors of Neff
Corp. and is a member of the Board of Directors of Nova Southeastern University. Mr. Mas
has been Chairman of the Board of the Cuban American National Foundation, Inc., a
not-for-profit corporation, since July 1999. Mr. Mas is the brother of Jose Mas. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Jose
R. Mas</I>, 32, has been a member of the Board of Directors since August 2001. Mr. Mas has
been our Executive Vice President &#150; Business Development since August 2001. Mr. Mas
has served in a number of capacities at the operating level with us since 1991, most
recently as President of one of our service offerings from May 1999 to August 2001. He is
also a member of the Board of Directors of Neff Corp. Mr. Mas is the brother of Jorge Mas,
MasTec&#146;s Chairman of the Board. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Julia
L. Johnson, </I>40,<I> </I>has been a member of the Board of Directors since February
2002. From January 2001 to the present, Ms. Johnson has been President of
NetCommunications, L.L.C., a strategy consulting firm specializing in the communications,
energy, and information technology public policy arenas. Prior to founding
NetCommunications, Ms. Johnson was Vice President of Marketing for MILCOM Technologies,
Inc., a military technology commercialization company, from March 2000 to August 2001.
From November 2001 to the present, Ms. Johnson has also served as founder and Chairman of
the Emerging Issues Policy Forum, a public policy organization established to promote open
public policy discussions on key market, industrial and regulatory issues. Ms. Johnson
served on the Florida Public Service Commission from January 1992 until November 1999,
serving as chairwoman from January 1997 to January 1999. Ms. Johnson also chaired
Florida&#146;s Information Service Technology Development Task Force, which advised
Florida Governor Jeb Bush on information technology policy and related legislative issues,
from November 1999 to July 2001. In June 2001, Governor Bush appointed Ms. Johnson to the
Florida Board of Education for a four-year term. She also serves on the Board of Advisors
of GridOne, an independent corporation related to the transmission assets of Entergy, and
currently serves on the University of Florida Foundation Board of Trustees. </FONT></P>

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<A NAME=A034></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>OTHER INFORMATION
REGARDING THE BOARD OF DIRECTORS </FONT></H1>

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<A NAME=A035></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Board and Committee
Meetings </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors conducts its business through meetings of the full Board and through
committees of the Board, consisting of the Executive Committee, the Audit Committee, the
Compensation Committee, and the Nominating and Corporate Governance Committee. The Board
and its committees also act by written consent. During 2002, the Board of Directors met on
three occasions. During 2002, each of the current directors attended 100% of the Board
meetings and the meetings of each committee on which such director serves. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Executive Committee is composed of Jorge Mas, who serves as Chairman, Austin J.
Shanfelter, Arthur B. Laffer and William N. Shiebler. The principal function of the
Executive Committee is to act for the Board of Directors when action is required between
full Board meetings. During 2002, the Executive Committee met on one occasion. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee is composed of Arthur B. Laffer, who serves as Chairman, William N.
Shiebler and John Van Heuvelen, all of whom are independent directors. The Audit Committee
oversees MasTec&#146;s financial reporting and compliance program on behalf of the Board
of Directors. The Audit Committee also is required to approve all audit and nonaudit
services provided by our independent auditor, including the scope of and fees paid to the
independent auditor. MasTec&#146;s board of directors has adopted a charter that sets
forth the responsibilities of the Audit Committee. During 2002, the Audit Committee met on
four occasions. Please refer to the section entitled &#147;Audit Committee and Audit
Related Information&#148; for further information. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee is composed of Arthur B. Laffer, who serves as Chairman, William N.
Shiebler and Jose S. Sorzano, all of whom are independent directors. The Compensation
Committee is charged with determining compensation for the Chief Executive Officer and the
other senior management of MasTec, establishing salaries, bonuses and other compensation
for MasTec&#146;s executive and operating officers, administering MasTec&#146;s stock
option, stock purchase and incentive compensation plans and recommending to the Board of
Directors changes to the plans. MasTec&#146;s board of directors has adopted a charter
that sets forth the responsibilities of the Compensation Committee. During 2002, the
Compensation Committee met on two occasions. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Nominating and Corporate Governance Committee is composed of Jorge Mas, who serves as
Chairman, Julia Johnson, and Joseph P. Kennedy II. The Nominating and Corporate Governance
Committee is responsible for developing qualifications for members of the Board of
Directors, recommending to the Board of Directors candidates for election to the Board of
Directors and evaluating the effectiveness and performance of the Board of Directors. The
Committee will consider candidates recommended by the shareholders pursuant to written
applications submitted to our Corporate Secretary in accordance with our bylaws and Rule
14a-4 of the Securities Exchange Act of 1934, as amended. Shareholder proposals for
nominees should include biographical and other related information regarding the proposed
nominee sufficient to comply with applicable disclosure rules and a statement from the
shareholder as to the qualifications and willingness of the candidate to serve on our
Board of Directors. The Nominating and Corporate Governance Committee also develops,
implements and monitors MasTec&#146;s corporate governance principles and its code of
business conduct and ethics; monitors and safeguards the board&#146;s independence; and
annually undertakes performance evaluations of the board committees and the full board of
directors. MasTec&#146;s board of directors has adopted a charter that sets forth the
responsibilities of the Nominating and Corporate Governance Committee. The Nominating and
Corporate Governance Committee did not meet during 2002, but did take action through
written consents. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors has adopted a written Charter for each of its operating committees
except for the Executive Committee. The full text of each Charter, the Corporate
Governance Guidelines and MasTec&#146;s Code of Conduct are available on MasTec&#146;s
website located at www.mastec.com. </FONT></P>

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<A NAME=A036></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Compensation of Directors </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the last five years, MasTec has not paid its directors an annual cash retainer or other
fees for serving as a director or attending meetings, however, MasTec may consider paying
such retainers and fees in the future. Directors are reimbursed for their reasonable
expenses in attending Board and committee meetings. Under MasTec&#146;s current Stock
Option Plan for Non-Employee Directors, our non-employee directors are eligible to receive
options to purchase shares of common stock. The Compensation Committee sets the amount,
exercise price and term of the options granted under this plan. The following directors
received options to purchase common stock in the amounts indicated when elected to the
Board in 2002: Julia L. Johnson, 45,000 and John Van Heuvelen, 45,000. All options expire
ten years from the date of grant and vest annually over three years. All options were
granted at an exercise price equal to the fair market value of MasTec&#146;s common stock
based on the mean between the high and low sale prices of our common stock on the New York
Stock Exchange on the date of grant. Please see &#147;Proposal 3 &#150; Approval of the
Adoption of the MasTec, Inc. 2003 Stock Incentive Plan for Non-Employees&#148; for
information regarding formula grants of stock options to non-employee directors under the
proposed plan. </FONT></P>

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<A NAME=A037></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITY OWNERSHIP </FONT></H1>

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<A NAME=A038></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Directors and Executive
Officers </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following
table sets forth the beneficial ownership as of March 21, 2003 of common stock by (i) each
director of MasTec and each Named Executive Officer (as defined under the caption
Executive Compensation below), and (ii) all executive officers and directors of MasTec as
a group. Unless otherwise indicated, each named shareholder has sole voting and investment
power with respect to the shares beneficially owned by the shareholder. </FONT></P>



<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=4><FONT FACE="Times New Roman" SIZE=2>Common Stock Beneficially Owned</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE="2"><U>Name</U> </FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Number<BR>
of Shares</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Percent of<BR>
Common Stock<BR>
Outstanding</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=65% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jorge Mas</FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=14% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>21,364,788</FONT></TD>
        <TD WIDTH=10% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(1)</FONT></TD>
     <TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>44.5</FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Chairman of the Board</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose R. Mas</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1,439,105</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(2)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3.0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Vice Chairman of the Board and Executive Vice President</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Julia L. Johnson</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>15,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Joseph P. Kennedy II</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>129,167</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Arthur B. Laffer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>456,820</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1.0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>William N. Shiebler</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>159,425</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose S. Sorzano</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>116,170</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>John Van Heuvelen</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Director</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Austin J. Shanfelter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>545,072</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1.1</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Director, President and Chief Executive Officer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Donald P. Weinstein</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>20,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President and Chief Financial Officer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Eric J. Tveter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9,642</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President and Chief Operations Officer</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose M. Sariego</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>141,077</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Former Senior Vice President and General Counsel</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>All executive officers and</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>24,396,266</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>50.8</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>directors as a group (12 persons)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>






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<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* Represents less than one half of
one percent of the outstanding shares of MasTec common stock. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Includes
 11,273,716  shares  owned  directly  by the Jorge L. Mas Canosa  Holdings  I Limited
 Partnership,  a Texas  limited          partnership  (the "Family  Partnership"),  and
 indirectly  by Jorge Mas, as the  president  and sole director of Jorge L. Mas
         Canosa Holdings  Corporation,  a Texas corporation,  the sole general partner of
the Family Partnership;  and 8,380,966 shares          owned of record by Jorge Mas
Holdings I Limited  Partnership,  a Texas limited  partnership  ("Jorge Mas Holdings").
 The sole          general  partner of Jorge Mas Holdings is Jorge Mas Holdings
 Corporation,  a Texas  corporation  that is  wholly-owned by Mr.          Jorge  Mas.
 Also  includes  282,670  shares  owned of record by the Mas Family  Foundation,  Inc.,
 a Florida  not-for-profit          corporation  (the  "Family  Foundation")  of which
 Mr.  Jorge Mas is the  president;  1,084,291  shares  covered  by  options
         exercisable  within 60 days of March 21, 2003;  and 343,145  shares  owned of
record  individually.  Mr.  Jorge Mas  disclaims          beneficial  ownership of the
shares held by the Family  Partnership  except to the extent of his pecuniary  interest
 therein,          and disclaims  beneficial  ownership of all of the shares owned by the
Family  Foundation.  The business  mailing  address for          Mr. Jorge Mas is c/o
MasTec, Inc., 3155 N.W. 77th Avenue, Miami, Florida 33122-1205. </FONT></TD>
</TR>
</TABLE>
<BR>



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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Includes
 1,114,251  shares  owned of record by Jose Ramon Mas Holdings I Limited  Partnership,  a
Texas  limited  partnership          ("Jose  Mas  Holdings").  The sole  general  partner
of Jose Mas  Holdings  is Jose Ramon Mas  Holdings  Corporation,  a Texas
         corporation  that is wholly owned by Mr. Jose Mas. Also  includes  138,096
 shares  covered by options  exercisable  within 60          days of March 21, 2003; and
186,758 shares owned of record individually. </FONT></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3)  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Includes
shares of common stock that may be issued upon the exercise of stock options that are
 exercisable  within 60 days of          March 21, 2003 as follows:  Julia L. Johnson,
 15,000; Joseph P. Kennedy II, 129,167 shares; Arthur B. Laffer, 266,667 shares;
         William N. Shiebler,  139,167 shares; Jose S. Sorzano, 113,917 shares; Austin J.
Shanfelter,  403,379 shares; Donald P. Weinstein          10,000 shares; and Jose M. Sariego,
121,309 shares. </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 16(a) Beneficial
Ownership Reporting Compliance </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
16(a) of the Securities  Exchange Act of 1934, as amended,  and regulations of the
Securities and Exchange  Commission thereunder require that MasTec's  directors,
 executive officers and persons who own more than 10% of MasTec's common stock, as well
as certain  affiliates of such persons,  to file initial  reports of their  ownership of
MasTec's  common stock and subsequent  reports of changes in such  ownership  with the
Securities and Exchange  Commission.  Directors,  executive  officers and persons owning
more than 10% of MasTec's  common stock are required by Securities and Exchange
 Commission  regulations to file with the Securities and Exchange Commission and the New
York Stock Exchange reports of their  respective  ownership of common stock and to
furnish MasTec with copies of all Section  16(a)  reports they file.  Based solely on a
review of the copies of such reports  received,  MasTec  believes that during the year
ended December 31,  2002,  directors,  executive officers and owners of more than 10% of
the common stock timely complied with all applicable filing requirements. </FONT></P>



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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Certain Principal
Shareholders </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of December 31, 2002, in addition to  information  provided for directors and executive
 officers,  MasTec was aware of the following shareholder who owned beneficially more
than 5% of MasTec's common stock: </FONT></P>




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<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>

     <TH COLSPAN=4><FONT FACE="Times New Roman" SIZE=2>Common Stock Beneficially Owned</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE="2"><U>Name</U> </FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Number<BR>
of Shares</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Percent of<BR>
Common Stock<BR>
Outstanding</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=64% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>Mellon Financial Corporation (1)</FONT></TD>
     <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=17% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3,958,622</FONT></TD>
        <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>.24%</FONT></TD></TR>
</TABLE>
<BR>


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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
                    <TR VALIGN=TOP>
                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Mellon Financial Corporation and certain of its direct and indirect subsidiaries
                    (&#147;Mellon&#148;) filed a Schedule 13G/A dated January 15, 2003 with the
                    Securities and Exchange Commission reporting beneficial ownership of more than
                    5% of MasTec&#146;s common stock. As reported in the Schedule 13G/A, Mellon
                    possesses sole voting power with respect to 2,791,632 shares and possesses
                    shared voting power with respect to 501,400 shares. As reported in the Schedule
                    13G/A, Mellon possesses sole dispositive power with respect to 3,957,191 and
                    shared dispositive power with respect to 1,431 shares. Mellon&#146;s address is
                    One Mellon Center, 500 Grant Street, Pittsburgh, Pennsylvania 15258-0001. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<A NAME=A039></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXECUTIVE COMPENSATION </FONT></H1>

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<A NAME=A040></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Summary Compensation
Table </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table summarizes all compensation paid to our Chief Executive Officer and the
four other most highly compensated executive officers of MasTec whose total salary and
bonus exceeded $100,000 (together, the &#147;Named Executive Officers&#148;) for services
rendered in all capacities to MasTec and its subsidiaries for the years ended December 31,
2002, 2001 and 2000. </FONT></P>









<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=6><FONT FACE="Times New Roman" SIZE=2>Annual Compensation</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=4><FONT FACE="Times New Roman" SIZE=2>Long Term Compensation</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Name and<BR>
Principal Position</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Year</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Salary ($)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Bonus ($)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Securities<BR>
Underlying Options(4)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>All Other<BR>
Compensation($)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Austin J. Shanfelter</FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2002</FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>601,925</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>100,000</FONT></TD>
        <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(2)</FONT></TD>
     <TD WIDTH=12% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>150,000</FONT></TD>
        <TD WIDTH=9% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(5)</FONT></TD>
     <TD WIDTH=12% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>619,645</FONT></TD>
        <TD WIDTH=7% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(9)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;President and Chief</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>391,996</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>450,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(6)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Executive Officer(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>213,657</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>300,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>150,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Donald P. Weinstein</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>258,577</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>100,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(2)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>30,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(8)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Executive Vice President</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;and Chief Financial</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Officer(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose R. Mas</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>235,062</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1,627</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Vice Chairman of the</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>157,197</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>125,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(7)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1,627</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Board and Executive Vice</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;President(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Eric J. Tveter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>126,923</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>68,750</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(2)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>50,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(8)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Executive Vice President</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;and Chief Operations</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Officer(1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose M. Sariego</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2002</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>245,611</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1,060</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Former Senior Vice</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2001</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>239,770</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>13,940</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>993</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;President and General</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>224,038</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>200,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(3)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>17,418</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>888</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>(10)</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;Counsel (1)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>





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<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Mr. Shanfelter became President and Chief Executive Officer in August 2001. Mr.
               Mas became Vice Chairman of the Board and Executive Vice President in August
               2001. Mr. Weinstein became Executive Vice President and Chief Financial Officer
               in January 2002. Mr. Tveter became Executive Vice President and Chief Operations
               Officer in July 2002. Mr. Sariego resigned as Senior Vice President and General
               Counsel as of December 31, 2002. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The bonus paid to Mr. Shanfelter in 2002 was paid in connection with his amended
               employment agreement. The bonuses paid to Messrs. Weinstein and Tveter in 2002
               were paid as inducements for employment and pursuant to their respective
               employment agreements. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The bonus amounts indicated for 2000 were awarded in the beginning of 2001 for
               performance during the year ending December 31, 2000. $30,000 of Jose
               Sariego&#146;s 2000 bonus was awarded in stock valued at fair market value on
               the date of the grant. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The options were granted in the year indicated based on performance in the
               previous year unless otherwise noted. Option amounts granted prior to June 19,
               2000 have been adjusted for a three-for-two stock split in the form of a stock
               dividend effective June 19, 2000. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(5) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Represents options to acquire 150,000 shares of our common stock that was
               granted to Mr. Shanfelter in connection with revising his employment agreement. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(6) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Represents options to acquire 300,000 shares of our common stock that were
               granted to Mr. Shanfelter for his increased responsibilities in connection with
               becoming President and Chief Executive Officer in August 2001 and options to
               acquire 150,000 shares of our common stock granted for performance during the
               year ending December 31, 2000 that were awarded in early 2001. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(7) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Represents options to acquire 125,000 shares of our common stock that were
               granted to Mr. Mas for his increased responsibilities in connection with
               becoming Vice Chairman of the Board and Executive Vice President in August 2001. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(8) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Represents options for Mr. Tveter to acquire 50,000 shares of our common stock
               and Mr. Weinstein to acquire 30,000 of our common stock in connection with their
               respective employment agreements. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(9) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Includes premiums paid by MasTec for insurance on the lives of Mr. Shanfelter
               and members of his family and interest owed to Mr. Shanfelter. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(10) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Represents premiums paid by MasTec for the term portion of life insurance on the
               lives of the individuals referenced. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<A NAME=A041></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Option Grants in Last
Fiscal Year </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table provides information with respect to options to purchase common stock
granted to the Named Executive Officers for the year ended December 31, 2002: </FONT></P>




<TABLE CELLPADDING=3 CELLSPACING=4 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=9><FONT FACE="Times New Roman" SIZE=2>Individual Grants</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=6><FONT FACE="Times New Roman" SIZE=2>Potential Realizable Value at
Assumed Annual Rates of Stock
Price Appreciation for
Option Term (3)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2"><U>Name</U> </FONT>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2">Number of Shares Underlying Options <U>Granted</U> </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2">Percent of Total Options granted to Employees for<U> Fiscal Year(1)</U> </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2">Exercise Price <U>($/sh)(2)</U> </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2">Expiration <U>Date</U> </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2"><U>5%</U> </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2"><U>10%</U> </FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=26% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Austin J. Shanfelter</FONT></TD>
     <TD WIDTH=0% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=0% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=3% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=15% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>150,000</FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=3% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=19% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>17.8%</FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=2% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD>
     <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3.34</FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=0% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>8/15/09</FONT></TD>
     <TD WIDTH=0% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=3% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD>
     <TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 203,957</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD>
     <TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 475,307</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Donald P. Weinstein</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>30,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>3.6%</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>    7.07</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>01/02/09</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>  86,346</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 201,223</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose R. Mas</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Eric J. Tveter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>50,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>5.9%</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>    6.14</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>07/15/09</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 124,980</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 291,256</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose M. Sariego</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>


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<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Based on options to purchase an aggregate of 843,500 shares of common stock
               granted to employees in 2002. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               All options were granted at an exercise price equal to fair market value based
               on the mean between the high and low sale prices of our common stock on the New
               York Stock Exchange on the date of grant. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
               <TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Amounts represent hypothetical gains assuming exercise at the end of the option
               term and assuming rates of stock price appreciation of 5% and 10% compounded
               annually from the date the respective options were granted to their expiration
               date. The 5% and 10% assumed rates of appreciation are mandated by the rules of
               the Securities and Exchange Commission. These assumptions are not intended to
               forecast future appreciation of our stock price. The potential realizable value
               computation does not take into account federal or state income tax consequences
               of option exercises or sales of appreciated stock. The actual gains, if any, on
               the stock option exercises will depend on the future performance of our common
               stock, the optionee&#146;s continued employment through applicable vesting
               periods and the date on which the options are exercised and the underlying
               shares are sold. The closing price of our common stock on March&nbsp;21, 2003
               was $1.60 per share. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<A NAME=A042></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Aggregate Option
Exercises and Year-End Option Values </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth information with respect to each exercise of stock options
during the year ended December 31, 2002 by the Named Executive Officers and the value at
December 31, 2002 of unexercised stock options held by the Named Executive Officers. </FONT></P>










<TABLE CELLPADDING=3 CELLSPACING=4 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Shares<BR>
Acquired on Exercise<BR>
(#)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Value<BR>
Realized<BR>
($)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Number of Shares Underlying<BR>
Unexercised Options at<BR>
December 31, 2002<BR>
Exercisable/Unexercisable<BR>
(#)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Value of Unexercised in<BR>
the Money Options at<BR>
December 31, 2002(1)<BR>
Exercisable/Unexercisable<BR>
($)</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=30% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Austin J. Shanfelter</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=22% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=10% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=28% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>300,829/505,100</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0/0</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Donald P. Weinstein</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0/30,000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0/0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose R. Mas</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>138,096/83,333</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0/0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Eric J. Tveter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0/50,000</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0/0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jose M. Sariego</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>121,309/0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>0/0</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>





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<HR SIZE=1 NOSHADE WIDTH=15% ALIGN=LEFT>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
                    <TR VALIGN=TOP>
                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Market value of shares underlying in-the-money options at December 31, 2002
                    based on the product of $2.95 per share, the closing price of MasTec&#146;s
                    common stock on the New York Stock Exchange on December 31, 2002, less the
                    exercise price of each option, multiplied by the number of in-the-money options
                    as of that date. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<A NAME=A043></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Equity Compensation Plan
Information </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth information about MasTec&#146;s common stock that may be issued
under all of MasTec&#146;s existing equity compensation plans as of December 31, 2002,
which include the 1994 Stock Incentive Plan, 1994 Stock Option Plan for Non-Employee
Directors, 1997 Annual Incentive Compensation Plan, 1997 Non-Qualified Employee Stock
Purchase Plan, Non-Employee Directors&#146; Stock Plan, Inepar Stock Option Agreement,
1999 Non-Qualified Option Plan and individual option agreements. The 1994 Stock Incentive
Plan, 1994 Stock Option Plan for Non-Employee Directors and the 1997 Annual Incentive
Compensation Plan were<B> </B>approved by our shareholders. The information in the
following table does not include securities under our proposed 2003 Employee Stock
Incentive Plan and 2003 Stock Incentive Plan for Non-Employees described in Proposals 2
and 3 below for which shareholder approval is being sought at the Annual Meeting. </FONT></P>




<TABLE CELLPADDING=0 CELLSPACING=2 BORDER=0 WIDTH=600>
<TR VALIGN="Bottom">
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2"><U>Plan Category</U> </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2">Number of
Securities to be Issued
Upon Exercise of
Outstanding Options,
<U>Warrants and Rights</U><BR>
(a) </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2">Weighted Average<BR>
Exercise Price of<BR>
Outstanding Options,<BR>
<U>Warrants and Rights</U><BR>
(b) </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE="2">Number of Securities<BR>
Remaining Available
for Future Issuance
Under Equity
Compensation Plans
(Excluding Securities
Reflected<BR> <U>in Column (a))</U><BR>
(c) </FONT></TH></TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=31% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Equity Compensation Plans Approved by Shareholders</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>6,099,762</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>$10.59</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=21% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>2,023,862</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Equity Compensation Plans Not Approved by Shareholders</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>2,644,462</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>$       17.33</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>591,612</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>TOTAL</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>8,744,224</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>2,615,474</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>



__________________


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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
                    <TR VALIGN=TOP>
                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    Calculations to compute the weighted average for options, warrants and rights
                    under the 1997 Annual Incentive Plan and Non-Employee Directors&#146; Stock Plan
                    were based upon an assumed purchase price of $1.61 per share, which was the fair
                    market value based on the mean between the high and low sale price of our common
                    stock on the New York Stock Exchange on March 21, 2003, and for the 1997
                    Non-Qualified Employee Stock Purchase Plan were based upon an assumed purchase
                    price of $1.37 per share, which is 85% of the fair market value on March 21,
                    2003. See &#147;Summaries of Plans Not Approved by Our Shareholders&#148; below
                    for a description of the Non-Employee Directors&#146; Stock Plan and the 1997
                    Non-Qualified Employee Stock Purchase Plan. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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               <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
                    <TR VALIGN=TOP>
                    <TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
                    <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
                    <TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    The 1997 Annual Incentive Plan has 1,500,000 shares remaining available for
                    future issuance, but MasTec has never issued any shares under the plan and has
                    no current plans to do so. </FONT></TD>
                    </TR>
                    </TABLE>
                    <BR>

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<A NAME=A044></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Summaries of Plans Not
Approved by Our Shareholders </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>1997
Non-Qualified Employee Stock Purchase Plan. </I>The MasTec, Inc. 1997 Non-Qualified
Employee Stock Purchase Plan is administered by the Compensation Committee, and permits
employees of MasTec who meet certain criteria set by the Committee to purchase common
stock of MasTec at a 15% discount to the market price at the time of purchase. Such
purchases are made through regular payroll deductions or lump sum investments. Employees
are limited to a maximum investment of $25,000 in the plan each year. The total amount of
common stock reserved under the plan is approximately 365,000 shares, substantially all of
which have been purchased. The Board of Directors is considering amending the plan to
increase the available number of shares under the plan. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Non-Employee
Directors&#146; Stock Plan. </I>The MasTec, Inc. Non-Employee Directors&#146; Stock Plan
adopted in 1998 permits non-employee directors to elect to receive all or a specified
percentage of any director fees paid for each year of service on the board in shares of
MasTec common stock. The number of shares issued to each non-employee director is
determined by dividing the director&#146;s fees owed to such director by the fair-market
value of a share of common stock on the date of the issue. The shares issued are delivered
to the non-employee director and the non-employee director has all the rights and
privileges of a stockholder as to the shares. The shares were immediately vested upon
grant and were not forfeitable to MasTec. The maximum number of shares of common stock
that may be issued under the plan is 150,000, substantially all of which have not been
issued. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
plan is administered by the Compensation Committee. The Committee has authority to adopt
such rules as it may deem appropriate to carry out the purposes of the plan. In the event
MasTec undertakes a transaction resulting in a change in the outstanding common stock, the
Committee in its discretion may make proportionate adjustments as it considers appropriate
to prevent diminution or enlargement of the rights of non-employee directors under the
plan with respect to the aggregate number of shares of common stock authorized to be
issued under the plan. MasTec has not used this plan in the last four years since director
compensation has been paid by grant of options to purchase common stock and has no current
plans to use this plan in the future. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>1999
Non-Qualified Employee Stock Option Plan. </I>The 1999 Non-Qualified Employee Stock Option
Plan is administered by the Compensation Committee of the board and permits the Committee
to grant non-qualified options to purchase up to 3,000,000 shares of common stock to any
MasTec employee. The Compensation Committee determines the recipient of options, the
number of shares covered by each option, and the terms and conditions of options within
the parameters of the plan (including the exercise price, vesting schedule, and the
expiration date) and may adopt rules and regulations necessary to carry out the plan. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
may be granted pursuant to the plan until January 31, 2009, after which time no further
options will be granted under the plan, but options previously granted may be exercised
pursuant to the respective terms. The Compensation Committee has the authority to change
or discontinue the plan or the options issued pursuant thereto at any time without the
holders consent so long as the holders&#146; rights would not be impaired. The plan
permits the Compensation Committee to determine and accept different forms of payment
pursuant to the exercise of options. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
plan provides for the termination of all outstanding options whether or not vested in the
event of a termination of employment, and permits the Committee to take certain actions in
the event of a change of control to ensure fair and equitable treatment of the employees
who hold options granted under the plan, including accelerating the vesting of any
outstanding option, offering to purchase any outstanding option and making other changes
to the terms of the outstanding options. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Inepar
Stock Option Agreement. </I>Effective July 31, 1997, MasTec granted Inepar S.A.
Ind&uacute;stria e Constru&ccedil;&otidle;es, a Brazilian corporation, an option to
purchase 75,000 shares of MasTec common stock at $17.67 per share in connection with an
acquisition by MasTec. All of the Inepar options are currently vested and will expire on
July 31, 2007. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Individual
Option Grants. </I>MasTec has entered into various option agreements (for approximately
211,000 shares of common stock) with non-employee directors, advisors and other parties in
connection with providing certain services, acquisitions and other matters. Such options
have various vesting schedules and exercise prices and have been included in the equity
compensation plan table above. </FONT></P>

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<A NAME=A045></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Employment and Other
Agreements </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
January 1, 2002, MasTec entered into employment agreements with Austin J. Shanfelter
relating to his employment as President and Chief Executive Officer. The agreement is for
a term of four years unless earlier terminated, and provides that Mr. Shanfelter will be
paid an annual salary of $600,000, an initial bonus of $100,000 prior to March 31, 2003
and deferred compensation of $2,000,000. The agreement also provides for a bonus to be
paid pursuant to an incentive performance bonus plan to be agreed upon and stock options
pursuant to MasTec&#146;s stock option plans. Following termination of employment, the
agreement provides for a two-year consulting period at $500,000 per year. Additionally, if
there is a change of control of MasTec during the employment term, the executive will be
entitled to all of the unpaid portion of his salary for the remaining term of the
agreement, to the consulting fees, any unpaid portion of the initial bonus and the
deferred compensation amount and to immediate vesting of any previously unvested options.
The agreement also contains gross-up for any excise taxes, confidentiality,
non-competition and non-solicitation provisions. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
January 1, 2002, MasTec set forth the terms and conditions of employment of Donald P.
Weinstein relating to his employment as Executive Vice President &#151; Chief Financial
Officer. These terms state that they are not to be construed as an employment agreement
and that Mr. Weinstein is an employee at-will and may be terminated at any time upon one
day&#146;s written notice. These terms specify that Mr. Weinstein will be paid an annual
salary of $270,000 and a guaranteed bonus of at least $60,000 for 2002. MasTec granted Mr.
Weinstein options to purchase 30,000 shares of stock pursuant to the terms of
MasTec&#146;s stock option plan. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
January 1, 2002, MasTec and Carmen Sabater, former Chief Financial Officer of MasTec,
amended Ms. Sabater&#146;s employment agreement, terminating such agreement as of January
1, 2002. MasTec agreed to pay Ms. Sabater total severance payments during the year 2002 of
$500,000 and forgave a $125,000 obligation to MasTec under a promissory note dated
November 2000. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
July 2002, MasTec entered into an employment agreement with Eric J. Tveter as Executive
Vice President and Chief Operations<B> </B>Officer with a two year term at an annual base
salary of $300,000 (with annual cost of living increases) and a grant of 50,000 stock
options, a guaranteed bonus for the year 2002 equal to one half of his base salary paid to
him during the year 2002 and payable prior to March 31, 2003, and the right to participate
in MasTec&#146;s bonus plan for Senior Management Committee January 1, 2003. The agreement
contains noncompete and nonsoliciation provisions for a period of two years following the
term of the agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
December 2002, MasTec entered into a severance agreement with Jose M. Sariego,
MasTec&#146;s Senior Vice President and General Counsel, effective December 31, 2002.
MasTec will provide Mr. Sariego total severance payments of $120,000 during 2003, payment
of certain insurance benefits and the vesting of his outstanding options. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
June 2001, MasTec agreed to pay up to $300,000 over a four year period of the premiums on
policies of life insurance on Mr. Shanfelter and members of his family in exchange for a
promissory note from Mr. Shanfelter in the full amount of the premiums to be paid plus
interest together with an assignment of the policies as collateral for the promissory
note. The full amount of the promissory note plus interest is payable solely from the
proceeds of the policies, when paid, which are assigned to MasTec. The balance of proceeds
from the policies, after repayment of the promissory note plus interest, will be remitted
to the applicable insured&#146;s beneficiary. MasTec has not paid premiums under these
policies since April 2002 and will not make any future payments under these policies. On
November 1, 2002, MasTec and Austin Shanfelter entered into a split dollar agreement
wherein MasTec agreed to pay the premiums due on a life insurance policy with an aggregate
face amount of $18,000,000. Mr. Shanfelter and his spouse are the insureds under the
policy. Under the terms of this agreement, MasTec is the sole owner and beneficiary of the
policy and is entitled, upon the death of the insureds, to recover all premiums it pays on
the policy plus interest equal to four percent, compounded annually. The remainder of the
policy&#146;s proceeds will be paid in accordance with Mr. Shanfelter&#146;s designations.
MasTec will make the premium payments for the term of the agreement or until the agreement
is terminated, which occurs upon any of the following events: (i) total cessation of
MasTec&#146;s business, (ii) bankruptcy, receivership or dissolution of MasTec, or (iii)
the six year anniversary of the agreement. In 2002, MasTec paid approximately $500,000 in
premiums in connection with insurance policies for Mr. Shanfelter and his family. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
August 7, 2001, MasTec entered into a severance agreement with Joel-Tomas Citron relating
to his separation from MasTec. Under the agreement, MasTec is obligated to pay Mr. Citron
$10,000,000 in equal installments, without interest, on September 3, 2001, January 2,
2002, April 1, 2002, July 1, 2002 and October 1, 2002. The final installment was reduced
by $750,000 to offset the amount due to MasTec under a non-interest bearing demand
promissory note between MasTec and Mr. Citron. The severance agreement specifies that Mr.
Citron will provide certain consulting services to MasTec upon MasTec&#146;s request until
August 7, 2003. All of Mr. Citron&#146;s stock options to acquire MasTec common stock
became fully vested and immediately exercisable under the severance agreement. Under the
agreement, Mr. Citron agreed to certain restrictions on his ability to provide services to
persons or entities that compete with MasTec or any of its affiliates, to solicit
customers and employees of MasTec and to disclose MasTec&#146;s confidential information.
Mr. Citron also agreed to aid MasTec in any legal proceedings or investigations and agreed
to release MasTec from any claims relating to his employment with MasTec. </FONT></P>

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<A NAME=A046></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>COMPENSATION COMMITTEE
REPORT ON EXECUTIVE COMPENSATION </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee of the Board of Directors is responsible for establishing and
administering the policies for MasTec&#146;s compensation programs and for approving the
compensation levels of the executives of MasTec, including its Chief Executive Officer.
The Compensation Committee also reviews with the Chief Executive Officer guidelines for
salaries and bonus awards applicable to MasTec&#146;s employees other than its executives.
The Compensation Committee is composed of Arthur B. Laffer, who serves as Chairman,
William N. Shiebler and Jose S. Sorzano, all of whom are independent directors of MasTec. </FONT></P>

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<A NAME=A047></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Statement of Philosophy
of Executive Compensation </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The executive
compensation program of MasTec is designed to (i) provide base compensation reasonably
comparable to that offered by other leading companies to their executives so as to attract
and retain talented personnel, (ii)&nbsp;motivate executives to achieve the strategic
goals set by MasTec by linking an executive&#146;s incentive compensation to the
performance of MasTec and applicable business units, as well as to individual performance,
and (iii)&nbsp;align the interests of MasTec&#146;s executives with the long-term
interests of its shareholders through the award of stock options and other stock-related
programs. To implement this philosophy, MasTec offers its executives compensation packages
that include a mix of salary, incentive bonus awards, and stock options. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
determining the level and form of executive compensation to be paid or awarded, the
Committee relies primarily on MasTec&#146;s results of operations and, in the case of
senior executives, an assessment of MasTec&#146;s overall performance in light of its
strategic objectives. The primary factor the Compensation Committee considered in
establishing 2002 compensation for senior executives was the net loss incurred by MasTec
in 2001. </FONT></P>

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<A NAME=A048></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Salary </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
base salary of executives is determined initially by analyzing and evaluating the
responsibilities of the position and comparing the proposed base salary with that of
executives in comparable positions in other companies. Adjustments are determined by
objective factors such as MasTec&#146;s performance and the individual&#146;s contribution
to that performance and subjective considerations such as additional responsibilities
taken on by the executive. Austin J. Shanfelter was the only executive officer in 2002 for
whom the Compensation Committee increased the base salary, based on the employment
agreement effective January 1, 2002. </FONT></P>

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<A NAME=A049></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Incentive Awards </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to paying a base salary, MasTec awards incentive bonuses as a component of
overall compensation. MasTec has established incentive compensation plans for our
executives at both the corporate and operational levels that award incentive bonuses based
primarily on MasTec&#146;s or an individual unit&#146;s performance as measured by
earnings before interest and taxes (&#147;EBIT&#148;). Because bonuses are based on
performance during a year and it takes time to gather and evaluate the necessary financial
data to gauge performance, bonuses for performance in a year are not paid until the
beginning of the next year. Awards are based on a multiple of base salary or a percentage
of EBIT. A portion of the bonus may be awarded in stock and stock options. MasTec or the
individual unit must meet certain minimum thresholds before any bonus is earned. For
performance in 2002, the Compensation Committee awarded no cash bonuses to MasTec&#146;s
executives under these plans. None of the Named Executive Officers received an incentive
bonus award for 2002 performance and the only bonuses awarded to the Named Executive
Officers in 2002 were paid pursuant to the Named Executive Officers employment agreements. </FONT></P>

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<A NAME=A050></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Long-Term Incentives </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock
options are granted as long-term incentive compensation to encourage and enhance positive
performance and to align the interest of our executives with our shareholders. Options are
granted at a price equal to the fair market value of our common stock on the New York
Stock Exchange on the date of grant, and will have value only if MasTec&#146;s stock price
increases. Grants to executives are based on their scope of responsibility, performance,
size of prior grants and strategic practices. Of the named executive officers, Messrs.
Tveter and Weinstein received stock option grants during 2002 as incentives for employment
in connection with their original employment agreements and Mr. Shanfelter received a
stock option grant during 2002 in connection with his revised employment agreement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards
generally are not exercisable immediately upon grant, but instead vest over a specified
period. Accordingly, an employee must remain employed by us for a specified period to
enjoy the full economic benefit of an award. </FONT></P>

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<A NAME=A051></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief Executive Officer
Compensation </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
January 1, 2002, MasTec entered into an employment agreement with Austin J. Shanfelter
relating to his employment as Chief Executive Officer. The agreement is for a term of four
years unless earlier terminated, and provides that Mr. Shanfelter will be paid an annual
salary of $600,000, an initial bonus of $100,000 prior to March 31, 2003 and deferred
compensation of $2,000,000. The agreement also provides for a bonus to be paid pursuant to
an incentive performance bonus plan to be agreed upon. Finally, following termination of
employment, the agreement provides for a two-year consulting period at $500,000 per year.
Additionally, if there is a change of control of MasTec during the employment term, the
executive will be entitled to all of the unpaid portion of his salary for the remaining
term of the agreement, to the consulting fees, any unpaid portion of the initial bonus and
the deferred compensation amount and to immediate vesting of any previously unvested
options. The agreement also contains non-competition and non-solicitation provisions
during the term of the agreement. </FONT></P>

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<A NAME=A052></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Compensation Committee
Interlocks and Insider Participation </FONT></H1>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Mr.
          Laffer, who is a MasTec director and serves as Chairman of our Compensation
          Committee, resigned as a member of the board of directors and compensation
          committee of Neff Corp. on November 18, 2002. MasTec purchases, rents and leases
          equipment used in its business from a number of different vendors, on a
          nonexclusive basis, including Neff. See &#147;Certain Relationships and Related
          Transactions&#148; below for more information. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jorge
Mas and Jose Ramon Mas, Chairman of the Board and Vice Chairman of the Board and Executive
Vice President of MasTec, respectively, are members of the Board of Directors of Neff
Corp., and Juan Carlos Mas, the brother of Jorge and Jose Ramon Mas, is the Chairman, CEO
and a director of Neff Corp. Messrs. Jorge, Jose Ramon and Juan Carlos Mas, and their
respective families, own a controlling interest in both MasTec and Neff Corp. </FONT></P>

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<A NAME=A053></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Compensation Committee </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arthur
B. Laffer<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;William
N. Shiebler<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jose
S. Sorzano




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<A NAME=A054></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CERTAIN RELATIONSHIPS
AND RELATED TRANSACTIONS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of January 1, 2002, Carmen M. Sabater was indebted to MasTec for $125,000 under a
non-interest bearing demand promissory note. Ms. Sabater&#146;s obligation to repay her
loan was forgiven by MasTec as part of her severance arrangement, which was effective
January 1, 2002. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of December 31, 2001, Jose Mas, Vice Chairman of the Board and Executive Vice President,
and Juan Carlos Mas, the brother of Jorge and Jose Mas, were indebted to MasTec for an
aggregate of $72,673 and $116,533, respectively, representing advances made to them to pay
their tax obligations resulting from the termination of the subchapter S corporation
election of MasTec&#146;s predecessor company at the time of the merger of the predecessor
company with Burnup &amp; Sims Inc. in 1994. Interest on the advances has accrued at an
annual rate of prime plus two percent. On May 13, 2002, Jose and Juan Carlos Mas paid this
indebtedness in full. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec
purchases, rents and leases equipment used in its business from a number of different
vendors, on a non-exclusive basis, including Neff Corp., in which Jorge Mas and Jose Mas
are directors and owners of a controlling interest. Juan Carlos Mas, the brother of Jorge
and Jose Mas, is Chairman, Chief Executive Officer and a director of Neff Corp.
Additionally, Jorge Mas, Juan Carlos Mas and Jose Mas have a controlling interest in Neff.
During the year ended December 31, 2002, MasTec paid Neff approximately $1.8 million for
equipment purchases, rentals and leases, which constituted approximately 4.1% of
MasTec&#146;s total equipment purchases, rentals and leases during the year. MasTec
believes the amount paid to Neff is equivalent to the payments that would have been made
between unrelated parties for similar transactions acting at arm&#146;s length. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
as of August 27, 2002, MasTec and Jorge Mas entered into a split dollar agreement wherein
MasTec agreed to pay the premiums due on two life insurance policies with an aggregate
face amount of $50,000,000. Mr. Mas and his spouse are the insureds under the policies.
Under the terms of this agreement, MasTec is the sole owner and beneficiary of the
policies and is entitled to recover all premiums it pays on the policies plus interest
equal to four percent, compounded annually, upon the death of the insureds. The remainder
of the policies&#146; proceeds will be paid in accordance with Mr. Mas&#146; designations.
MasTec will make the premium payments until the agreement is terminated, which occurs upon
any of the following events: (i) total cessation of MasTec&#146;s business, (ii)
bankruptcy, receivership or dissolution of MasTec, or (iii) a change of control of MasTec. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally,
effective as of September 13, 2002, MasTec and Jorge Mas entered into a second split
dollar agreement (as amended on December 1, 2002) wherein MasTec agreed to pay the
premiums due on a life insurance policy with a face amount of $80,000,000, $60,000,000 of
which is subject to the agreement and the remaining $20,000,000 is deemed to be key-man
insurance payable to MasTec and falls outside of the agreement. Jorge Mas is the insured
under this policy. Under the terms of this agreement, MasTec is the sole owner and
beneficiary of the policy and is entitled to recover all premiums it pays on the portion
of the policy subject to the agreement, plus interest equal to four percent, compounded
annually, upon the death of the insured. MasTec will make the premium payments until the
agreement is terminated, which occurs upon any of the following events: (i) total
cessation of MasTec&#146;s business, (ii) bankruptcy, receivership or dissolution of
MasTec, or (iii) a change of control of MasTec. An amount equal to $60,000,000 of the
policy&#146;s proceeds will be paid in accordance with Jorge Mas&#146;s designations. Any
remainder of the proceeds will be paid to MasTec. In 2002, MasTec paid $1,340,400 in
premiums in connection with the split dollar agreements for Jorge Mas. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Julia
L. Johnson, a director, entered into a one-year consulting agreement with MasTec through
NetCommunications on June 1, 2000. The agreement specified that Ms. Johnson would provide
business development consulting to MasTec on a nonexclusive basis for a flat fee of
$12,500 per month. Pursuant to the agreement, Ms. Johnson would identify new customers,
identify additional business opportunities with existing customers, arrange meetings and
presentations with new and existing customers, assist in the preparation of proposals, and
provide guidance to develop additional business opportunities for MasTec. The agreement
contains customary non-compete, non-solicitation and confidential information provisions.
The agreement expired in May 2001 but was continued on a month-to-month basis until April
2002, at which time the parties mutually agreed to terminate the agreement. Ms. Johnson
was paid $50,000 for her consulting services in 2002 prior to the termination of the
consulting agreement. Ms. Johnson is also the founder and Chairman of the Emerging Issues
Policy Forum, a public policy organization established to promote open public policy
discussions on key market, industrial and regulatory issues. MasTec paid the Emerging
Issues Policy Forum $20,000 in 2002 for membership. </FONT></P>

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<A NAME=A055></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>STOCK PERFORMANCE GRAPH </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following graph compares the cumulative total shareholder return on MasTec&#146;s common
stock from December 31, 1997 through December 31, 2002 with the cumulative total return of
the Standard &amp; Poor&#146;s 500 Stock Index and a company-constructed index of six peer
companies consisting of Black Box Corp., Dycom Industries, Inc., International Fibercom,
Inc., LCC International Inc., Quanta Services, Inc., and Wireless Facilities Inc. The
graph assumes that the value of the investment in the common stock was $100 on December
31, 1997, with the number of shares purchased for the $100 investment determined based on
the fair market value on that date and that all dividends were reinvested. This data is
not necessarily indicative of future results. </FONT></P>

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<A NAME=A056></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[GRAPHIC OMITTED] </FONT></P>

                  * $100 invested on 12/31/97 in stock or index-including reinvestment of dividends.  Fiscal year
ending December 31.
<BR>
<BR>
<BR>




<TABLE CELLPADDING=0 CELLSPACING=2 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>12/31/97</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>12/31/98</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>12/31/99</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>12/31/00</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>12/31/01</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>12/31/02</FONT><HR WIDTH=95% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=16% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>MasTec</FONT></TD>
     <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$100.00</FONT></TD>
        <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$&nbsp;&nbsp;91.80</FONT></TD>
        <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$194.54</FONT></TD>
        <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$131.14</FONT></TD>
        <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$&nbsp;&nbsp;45.57</FONT></TD>
        <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$19.34</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>S&P 500</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$100.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$128.58</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$155.64</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$141.46</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$124.65</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$97.10</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Peer Group</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$100.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$144.15</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$203.89</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$207.21</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$100.52</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$64.01</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>







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<A NAME=A057></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROPOSAL 2 </FONT></H1>

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<A NAME=A058></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPROVAL OF THE
ADOPTION OF THE MASTEC, INC. </FONT></H1>

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<A NAME=A059></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 EMPLOYEE STOCK
INCENTIVE PLAN </FONT></H1>

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<A NAME=A060></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Introduction </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
1994 stock option plan for employees has a low number of shares of common stock remaining
and will expire in early 2004. Therefore, in order to further our growth and development,
to encourage employees to obtain a proprietary interest in MasTec by owning MasTec&#146;s
stock, and to attract quality employees and encourage employees to continue in our
service, MasTec proposes to adopt the MasTec, Inc. 2003 Employee Stock Incentive Plan,
which MasTec refers to in this description as the &#147;Employee Plan.&#148; The Employee
Plan would permit us to grant to our employees stock options and other stock-based
compensation. Subject to the approval of our shareholders, the Employee Plan would be
effective June 1, 2003. The following description of the Employee Plan is qualified in its
entirety by reference to the applicable provisions of the Employee Plan and agreements
related to the Employee Plan. A copy of the Employee Plan may be accessed through our web
site at <U>www.mastec.com</U> under Investor Relations. Additionally, MasTec will promptly
deliver a paper copy of the Employee Plan to a shareholder upon receiving an oral or
written request from a shareholder. Any such shareholder who wishes to receive a separate
paper copy of the Employee Plan should contact MasTec Investor Relations by telephone at
1-305-599-1800 or by mail to: MasTec Investor Relations, 3155 N.W. 77<SUP>th</SUP> Avenue,
Miami, Florida 33122-1205. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The
board of directors unanimously recommends that the shareholders vote &#147;FOR&#148; the
proposal to approve the adoption of the MasTec, Inc. 2003 Employee Stock Incentive Plan. </B></FONT></H1>

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<A NAME=A062></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock Subject to Awards </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
stock underlying awards under the Employee Plan is our common stock, par value $0.10 per
share (or such other securities as may be applicable upon a stock dividend, stock split,
recapitalization, reorganization, exchange of shares or other change in our corporate
structure or shares of stock). On March 21, 2003, the closing price of our common stock
as reported on the New York Stock Exchange was $1.60 per share. The total aggregate
shares authorized during the term of the Employee Plan is limited to 7,000,000 shares,
subject to adjustment as described below. Up to 2,500,000 shares of our common stock
would initially be authorized for grant or purchase under the Employee Plan. Each
December 31, beginning December 31, 2003, the authorized shares would automatically be
increased by the number of shares subject to grants made during the calendar year ending
on such December 31. In the event that any option expires unexercised or is forfeited,
terminated, surrendered or cancelled without being exercised or settled, the common stock
covered by such option, or portion thereof, will again become available for issuance
under the Employee Plan, but would reduce the number of shares of the automatic increase
for the year. The number of awards issued, the number of awards available for issuance
under the plan, and the price of outstanding awards may be adjusted as described below in
the event of a capital reorganization.  </FONT></P>



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<A NAME=A063></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Types of Awards </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee Plan would permit grants of incentive stock options under IRC Section 422,
nonqualified stock options, reload options, restricted stock, and performance shares. </FONT></P><BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A064></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Administration </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee Plan is administered by our Compensation Committee, which is appointed by our
board. The members of the committee must be &#147;outside directors&#148; within the
meaning of Section 162(m) of the IRC and must be &#147;non-employee directors&#148; for
purposes of Rule 16b-3 of the Exchange Act. Among other powers and duties, the
Compensation Committee establishes rules and regulations for the Employee Plan; interprets
plan provisions; determines the number of shares, exercise price and restrictions of
awards granted; determines the times when awards will be granted and vested or
exercisable; and prescribes the form of agreements related to the awards. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A065></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Eligibility for Awards </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
consideration of their services, common law employees who serve as officers or employees
of MasTec or a member of our controlled group of companies and who are actively employed
at the time an award is made are eligible to receive awards under the Employee Plan.
Incentive stock options may only be granted to employees of MasTec or its parent and
subsidiary companies as defined in Section 424 of the IRC. Reload options may only be
granted to employees who are actively employed in good standing at the time of grant of
the reload option. The maximum number of shares for which options may be granted to any
individual in any calendar year is 750,000. The maximum number of shares for which
restricted stock may be granted to any individual in any calendar year is 750,000. The
maximum number of shares for which performance shares may be granted to any individual in
any calendar year is 750,000. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of April 25, 2003, there were approximately 8,450 officers and other employees eligible to
receive grants under the Employee Plan. </FONT></P>

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<A NAME=A066></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Options Granted </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of April 25, 2003, the Compensation Committee has granted no options under the Employee
Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A067></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Terms of Options </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
granted under the Employee Plan have terms and conditions as determined by the
Compensation Committee, as more fully described below: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Option
Price.</I> &nbsp;The exercise price of each option granted under the Employee Plan will be 100%
of the fair market value of a share of the common stock on the date of grant. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Vesting.</I>&nbsp;Unless
the Compensation Committee specifies otherwise, options granted under the
          Employee Plan will vest and become exercisable with respect to 33% of the
          options granted on each of the first two anniversaries of the date of grant,
and           with respect to the remainder of the options granted on the third
anniversary of           the date of grant. The Compensation Committee is permitted to
impose any other           conditions, restrictions, forfeitures and contingencies on
awards of stock           options, including the satisfaction of performance measures.
The Compensation           Committee may accelerate the exercisability of options at any
time. Unless           otherwise determined by the Compensation Committee, options
automatically become           fully exercisable upon the optionee&#146;s death,
disability, or upon a change           of control of us, as defined in the Employee Plan.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Term
of Options</I>.&nbsp; The maximum term of any option is ten years from the date of grant. </FONT> </P>



<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination
of Employment.</I>&nbsp; Following a termination of employment with MasTec for cause or
voluntary termination by the optionee other than retirement after reaching age 65, all
unexercised options will immediately expire. Following a termination for other reasons,
exercisable options will remain exercisable (but not beyond the options&#146; expiration
date) for: </FONT></P>

<UL TYPE="square">o        90 days, if the termination is for any reason other than retirement after reaching age 65, death or disability; and</UL>

<UL TYPE="square">o        one year, or such shorter period as determined by the Compensation Committee and set forth
in the applicable stock option agreement, if the termination is due to retirement after
reaching age 65, death or disability. </UL>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
exercise period following termination of employment may be extended at the discretion of
the Compensation Committee, but not beyond the tenth anniversary of the date of grant. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exercise
of Options.</I> Payment of the exercise price may be made in cash, by tendering previously
acquired shares of our stock that have been held for six months, by a combination of cash
and surrender of shares, or another method approved by the Compensation Committee. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Reload
Options. </I>The Compensation Committee may grant reload options in conjunction with a
grant of nonqualified stock options or incentive stock options. Multiple, successive
reload options may also be granted. If a stock option has been granted with an
accompanying reload option, the Compensation Committee will grant a reload option for the
same number of shares as are surrendered by the optionee in payment of the exercise price
of the related stock option upon exercise. The reload option will have the same terms and
conditions as the related stock option, except that the reload option&#146;s exercise
price will be the fair market value as of the date of grant of the reload option, and the
reload option will become fully exercisable six months after its date of grant. </FONT></P>

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<A NAME=A068></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Terms of Restricted
Stock Awards </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted
stock awards granted under the Employee Plan would have terms and conditions as determined
by the Compensation Committee, as more fully described below: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Grant.</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee Plan would permit grants of restricted stock, which is a grant of           our
common stock subject to restrictions as described below.  </FONT></P>



<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Restrictions
and Vesting. </I>Unless the Compensation Committee specifies otherwise, restricted stock
awards vest and become nonforfeitable with respect to 100% of the shares on the third
anniversary of grant if the recipient is an employee on that date. The Compensation
Committee is also permitted to impose any other conditions, restrictions, forfeitures and
contingencies on awards of restricted stock, which may include satisfaction of performance
measures. Vesting and lapse of restrictions may be accelerated by the Compensation
Committee at any time. Unless otherwise determined by the Compensation Committee, upon the
recipient&#146;s death, disability, or a change of control as defined in the Employee
Plan, outstanding restricted stock awards (i) that are subject only to time-based vesting,
become fully vested and nonforfeitable; or (ii) that are subject to any other type of
vesting schedule or requirement, become vested an nonforfeitable with respect to a
proportion of the award equal to the proportion of the time completed through the date of
the triggering event to the total performance measurement period for the award, with
target performance level (or, if no target was designated, the performance level that
would result in the least number of shares becoming vested) deemed to be achieved as of
the date of the triggering event. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Rights
as a Shareholder. </I>A recipient of a restricted stock award would have the rights of a
shareholder with respect to the shares of restricted stock held in his or her name,
including the right to vote the shares and to receive dividends. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination
of Employment. </I>Except as otherwise determined by the Compensation Committee, upon
termination of employment with us, unvested restricted stock would be forfeited. </FONT></P>

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<A NAME=A069></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Terms of Performance
Awards </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance
awards granted under the Employee Plan would have terms and conditions as determined by
the Compensation Committee, as more fully described below: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Grant.</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee Plan would permit grants of performance shares, which is a right to
          receive an award of our common stock in the future, subject to conditions,
          restrictions and contingencies determined by the Compensation Committee,
          including satisfaction of performance goals.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance
Goals and Vesting. </I>The Compensation Committee specifies the manner in which
performance shares vest and become nonforfeitable, as well as any conditions,
restrictions, forfeitures and contingencies to which the performance shares are subject,
which may include satisfaction of performance goals and continuous service during a
performance period. Vesting may be accelerated by the Compensation Committee at any time,
and the Compensation Committee may elect, in its sole discretion, to waive any or all
restrictions with respect to an award of performance shares. Unless otherwise determined
by the Compensation Committee, upon the recipient&#146;s death, disability, or a change of
control as defined in the Employee Plan, outstanding performance share awards that are
subject to performance criteria become vested and nonforfeitable with respect to a
proportion of the award equal to the proportion of the time completed through the date of
the triggering event to the total performance measurement period for the award, with
target performance level (or, if no target was designated, the performance level that
would result in the least number of shares becoming vested) deemed to be achieved as of
the date of the triggering event. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Dividends.</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders
of outstanding performance shares receive additional performance share           credits
for the value of dividends distributed while the performance shares are
          outstanding.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Delivery
of Shares.</I> Upon vesting, the shares of common stock subject to the performance share
award will be distributed to the grantee. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination
of Employment. </I>Except as otherwise determined by the Compensation Committee, upon
termination of employment with MasTec, all performance shares still subject to
restrictions would be forfeited. </FONT></P>

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<A NAME=A070></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fair Market Value </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair
market value of the common stock under the Employee Plan is generally the last sale price
of a share of MasTec&#146;s common stock quoted at the close of trading for the relevant
date on the New York Stock Exchange. </FONT></P>

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<A NAME=A071></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Reorganization </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
MasTec is part of any reorganization involving merger, consolidation, acquisition of our
stock or acquisition of our assets, the Compensation Committee, in its discretion, may
decide that (i) outstanding awards apply to the securities of the resulting corporation;
(ii) outstanding options become immediately fully exercisable; (iii) outstanding options
become immediately fully exercisable and terminate after 30 days&#146; notice; and/or (iv)
restricted stock and performance shares become immediately fully vested, nonforfeitable,
and/or payable. </FONT></P>

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<A NAME=A072></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amendment and Termination </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
board of directors may amend, modify or terminate the Employee Plan at any time. However,
no amendment, modification or termination shall result in the Employee Plan being subject
to variable or other adverse accounting treatment or adversely affect, in any way, the
rights of holders of outstanding awards without their consent unless the amendment or
termination is necessary to comply with applicable law. Unless terminated sooner, the
Employee Plan automatically terminates on the tenth anniversary of its effective date. </FONT></P>

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<A NAME=A073></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Adjustments </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event MasTec is involved in a corporate transaction or any other event which affects
MasTec&#146;s common stock (such as recapitalization, reclassification, stock split, stock
dividend, extraordinary cash dividend, split-up, spin-off, combination or exchange of
shares), the Compensation Committee will adjust the number and kind of shares available
for issuance under the Employee Plan, the number and kind of shares subject to outstanding
awards, the exercise price of outstanding stock options, and any other equitable
adjustment. </FONT></P>

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<A NAME=A074></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Transferability </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
are not transferable except by will or by the laws of descent and distribution. Unless
otherwise specified by the Compensation Committee, restricted stock would not be
transferable while subject to applicable restrictions. Performance shares are not
transferable. </FONT></P>

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<A NAME=A075></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Federal Income Tax
Consequences </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following is a brief general description of the consequences under the IRC of the receipt
or exercise of awards under the Employee Plan: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Incentive
Stock Options.</I> An option holder has no tax consequences upon issuance or, generally,
upon exercise of an incentive stock option. An option holder will recognize income when he
or she sells or exchanges the shares acquired upon exercise of an incentive stock option.
This income will be taxed at the applicable capital gains rate if the sale or exchange
occurs after the expiration of the requisite holding periods. Generally, the requisite
holding periods expire two years after the date of grant of the incentive stock option and
one year after the date of acquisition of our common stock pursuant to the exercise of the
incentive stock option. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an option holder disposes of the common stock acquired pursuant to exercise of an
incentive stock option before the expiration of the requisite holding periods, the option
holder will recognize compensation income in an amount equal to the difference between the
option price and the lesser of (i) the fair market value of the shares on the date of
exercise and (ii) the price at which the shares are sold. This amount will be taxed at
ordinary income rates. If the sale price of the shares is greater than the fair market
value on the date of exercise, the difference will be taxed at the applicable capital
gains rate. If the sale price of the shares is less than the option price, the option
holder will recognize a capital loss equal to the excess of the option price over the sale
price. The use of shares acquired upon exercise of an incentive stock option to pay the
option price of another option (whether or not it is an incentive stock option) will be
considered a disposition of the shares. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
option holder may have tax consequences upon exercise of an incentive stock option if the
aggregate fair market value of shares of the common stock subject to incentive stock
options which first become exercisable by an option holder in any one calendar year
exceeds $100,000. If this occurs, the excess shares will be treated as though they are
subject to a nonqualified stock option instead of an incentive stock option. Upon exercise
of an option with respect to these shares, the option holder will have the tax
consequences described below with respect to the exercise of nonqualified stock options. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finally,
except to the extent that an option holder has recognized income with respect to the
exercise of an incentive stock option, the amount by which the fair market value of a
share of our common stock at the time of exercise of the incentive stock option exceeds
the option price will be included in determining an option holder&#146;s alternative
minimum taxable income, and may cause the option holder to incur an alternative minimum
tax liability in the year of exercise. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
will be no tax consequences to us upon issuance or, generally, upon exercise of an
incentive stock option. However, to the extent that an option holder recognizes ordinary
income upon exercise, we generally will have a deduction in the same amount.



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Nonqualified
Stock Options. </I>Neither MasTec nor the option holder has income tax consequences from
the issuance of nonqualified stock options. Generally, upon the exercise of nonqualified
stock options, the option holder recognizes ordinary income in the amount by which the
fair market value of the shares at the time of exercise exceeds the option price for such
shares. The holder&#146;s tax basis in the shares is the fair market value of the shares
on the date of exercise. We generally will have a deduction in the same amount as the
ordinary income recognized by the option holder in our tax year in which or with which
the option holder&#146;s tax year (of exercise) ends. Upon the sale of shares acquired
upon exercise, the option holder will have a capital gain (or loss) equal to the
difference between the tax basis and the sale price calculated at the applicable capital
gains rates.  </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
additional rules apply if the exercise price is paid in shares of our common stock held by
the optionee. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Restricted
Stock and Performance Share Awards.</I> A holder of restricted stock or performance shares
will recognize income upon receipt of the award, but generally only to the extent that the
stock is not subject to a substantial risk of forfeiture. If the restricted stock or
performance shares are subject to restrictions that lapse in increments over a period of
time, so that the holder becomes vested in a portion of the shares as the restrictions
lapse, the holder will recognize income in any tax year only with respect to the shares
that become nonforfeitable during that year. The income recognized will be equal to the
fair market value of those shares, determined as of the time that the restrictions on
those shares lapse. That income generally will be taxable at ordinary income tax rates.
Any dividends paid in connection with restricted stock will be taxed at ordinary income
tax rates. MasTec generally will be entitled to a deduction in an amount equal to the
amount of ordinary income recognized by the holder of the restricted stock or performance
shares. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
holder of restricted stock or performance shares may elect instead to recognize ordinary
income for the taxable year in which he or she receives an award in an amount equal to the
fair market value of all shares of restricted stock or performance shares, as applicable,
awarded to him or her, even if the shares are subject to forfeiture. That income will be
taxable at ordinary income tax rates. At the time of disposition of the shares, a holder
who has made such an election will recognize gain in an amount equal to the difference
between the sales price and the fair market value of the shares at the time of the award.
This gain will be taxable at the applicable capital gains rate. Any such election must be
made within 30 days after the transfer of the restricted stock to the holder or the award
of performance shares to the recipient. MasTec will generally be entitled to a deduction
in an amount equal to the amount of ordinary income recognized by the holder at the time
of his or her election. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Limitation
on Company Deductions. </I>No federal income tax deduction is allowed for compensation
paid to a &#147;covered employee&#148; in any of our taxable years beginning on or after
January 1, 1994, to the extent that such compensation exceeds $1,000,000. For this
purpose, &#147;covered employees&#148; are generally defined as our chief executive
officer and our four highest compensated officers whose annual salary and bonus exceeds
$100,000, and the term &#147;compensation&#148; generally includes amounts includable in
gross income as a result of the exercise of stock options, or the receipt of stock
options, restricted stock, or performance awards. This deduction limitation does not apply
to compensation that is (1) commission-based compensation, (2) performance-based
compensation, (3) compensation which would not be includable in an employee&#146;s gross
income, and (4) compensation payable under a written binding contract in existence on
February 17, 1993, and not materially modified thereafter. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation
attributable to a stock option will generally satisfy the limitation exception for
performance-based compensation if: </FONT></P>

<UL TYPE="square">o        the grant or award is made by a "compensation committee" (a committee composed of "outside" directors);</UL>

<UL TYPE="square">o        the &#147;material terms&#148; (including which employees are eligible to receive
compensation, the maximum number of shares that may be granted to an optionee and the
exercise price of the options) of the plan under which the option or right is granted are
disclosed to shareholders and approved by a majority of the shareholder vote; </UL>

<UL TYPE="square">o        the &#147;compensation committee&#148; certifies that performance goals were in fact satisfied before the
compensation is paid; and </UL>

<UL TYPE="square">o        under the terms of the option or right, the amount of compensation the employee could
receive is based solely on an increase in the value of the stock after the date of the
grant or award. </UL>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock
options and other awards granted under the Employee Plan may satisfy these requirements,
depending upon the specific terms, provisions, restrictions and limitations of such
options or awards. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing discussion is not a complete discussion of all federal income tax aspects of the
Employee Plan. Some of the provisions contained in the IRC have only been summarized, and
additional qualifications and refinements may be contained in regulations which will be
issued in the future by the Internal Revenue Service. Furthermore, subsequent legislative
changes or changes in administrative or judicial interpretation could alter significantly
the tax treatment discussed herein. No discussion of state income tax law has been
included. Each employee should consult his or her own tax advisors with respect to the tax
consequences of participation in the Employee Plan and disposition of shares acquired
under the Employee Plan. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>ERISA.</I>&nbsp;The
Employee Plan is not, and is not intended to be, an employee benefit plan or
          qualified retirement plan. The Employee Plan is not, therefore, subject to the
          Employee Retirement Income Security Act of 1974, as amended, or Section 401(a)
          of the IRC.  </FONT></P>



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<A NAME=A076></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROPOSAL 3 </FONT></H1>

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<A NAME=A077></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPROVAL OF THE
ADOPTION OF THE MASTEC, INC. </FONT></H1>

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<A NAME=A078></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 STOCK INCENTIVE
PLAN FOR NON-EMPLOYEES </FONT></H1>

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<A NAME=A079></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Introduction </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
1994 stock option plan for non-employees has a low number of shares of common stock
remaining and will expire in early 2004. Therefore, in order to further our growth and
development, to encourage non-employee directors, consultants and advisors to obtain a
proprietary interest in MasTec by owning our stock, and to attract quality directors and
encourage directors to continue in our service, MasTec proposes to adopt the MasTec, Inc.
2003 Stock Incentive Plan for Non-Employees, which is referred to in this description as
the &#147;Non-Employee Plan.&#148; The Non-Employee Plan would permit us to grant stock
options to non-employee directors, consultants and advisors. Subject to the approval of
our shareholders, the Non-Employee Plan would be effective June 1, 2003. The following
description of the Non-Employee Plan is qualified in its entirety by reference to the
applicable provisions of the Non-Employee Plan and agreements related to the Non-Employee
Plan. A copy of the Non-Employee Plan may be accessed through our web site at
<U>www.mastec.com</U> under Investor Relations. Additionally, MasTec will promptly deliver
a paper copy of the Non-Employee Plan to a shareholder upon receiving an oral or written
request from a shareholder. Any such shareholder who wishes to receive a separate paper
copy of the Non-Employee Plan should contact MasTec Investor Relations by telephone at
1-305-599-1800 or by mail to: MasTec Investor Relations, 3155 N.W. 77<SUP>th</SUP> Avenue,
Miami, Florida 33122-1205. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The
board of directors unanimously recommends that the shareholders vote &#147;FOR&#148; the
proposal to approve the adoption of the MasTec, Inc. 2003 Stock Incentive Plan for
Non-Employees.</B> </FONT></P>

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<A NAME=A080></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock Subject to Options </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
stock underlying options under the Non-Employee Plan is MasTec&#146;s common stock, par
value $0.10 per share (or such other securities as may be applicable upon a stock
dividend, stock split, recapitalization, reorganization, exchange of shares or other
change in our corporate structure or shares of stock). On March 21, 2003, the closing
price of MasTec&#146;s common stock as reported on the New York Stock Exchange was $1.60
per share. Up to 1,000,000 shares of MasTec&#146;s common stock would initially be
authorized for purchase under the Non-Employee Plan. Each December 31, beginning December
31, 2003, the authorized shares would automatically be increased by the number of shares
subject to grants made during the calendar year ending on such December 31. In the event
that any option expires unexercised or is forfeited, terminated, surrendered or cancelled
without being exercised or settled, the common stock covered by such option, or portion
thereof, will again become available for issuance under the Non-Employee Plan, but would
reduce the number of shares of the automatic increase for the year. The number of options
issued, the number of shares available for issuance under the plan, and the price of
outstanding options may be adjusted as described below in the event of a capital
reorganization. </FONT></P>

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<A NAME=A081></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Types of Awards </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Non-Employee Plan would permit grants of nonqualified stock options, which are options
that do not qualify as incentive stock options under IRC Section 422, and therefore are
subject to taxation under IRC Section 83. </FONT></P>

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<A NAME=A082></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Administration </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Non-Employee Plan is administered by MasTec&#146;s Compensation Committee, which is
appointed by MasTec&#146;s board. The members of the committee must be &#147;non-employee
directors&#148; for purposes of Rule 16b-3 of the Exchange Act. Among other powers and
duties, the Compensation Committee establishes rules and regulations for the Non-Employee
Plan; interprets plan provisions; determines the number of shares and exercise price of
options granted; determines the times when options will be granted and exercisable; and
prescribes the form of agreements related to the options. </FONT></P>

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<A NAME=A083></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Eligibility for Awards </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
consideration of their services, any &#147;advisor&#148; (an individual who serves as an
advisor or consultant to MasTec or a member of our controlled group of companies under a
relationship other than that of common law employee), and any member of MasTec&#146;s
board of directors who is not and never has been either an officer or common law employee
of MasTec or a member of MasTec&#146;s controlled group, is eligible to receive options
under the Non-Employee Plan. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of April 25, 2003, there were six non-employee directors eligible to receive grants under
the Non-Employee Plan. </FONT></P>

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<A NAME=A084></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Options Granted </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of April 25, 2003, the Compensation Committee has granted no options under the
Non-Employee Plan. </FONT></P>

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<A NAME=A085></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Terms of Options </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options
granted under the Non-Employee Plan have terms and conditions as determined by the
Compensation Committee, subject to the provisions described below: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Formula
Grants to Directors.</I> The Non-Employee Plan provides for automatic option grants to
non-employee directors according to a formula under the plan. Under the formula, as of the
first business day of the month following initial election as a non-employee director and
each re-election to serve a three-year term as a non-employee director, such non-employee
director will automatically receive an option to purchase 20,000 shares. As of the first
business day following the annual shareholders meeting in any year in which a non-employee
director does not receive a grant due to election or re-election, such director will
automatically receive an option to purchase 7,500 shares. If the Non-Employee Plan is
approved by shareholders, the formula grants will take effect immediately, such that
non-employee directors that are elected or re-elected at the 2003 Annual Meeting will
receive an option to purchase 20,000 shares and all other non-employee directors will
receive an option to purchase 7,500 shares on the first business day following the 2003
Annual Meeting. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Discretionary
Grants.</I> The Compensation Committee has discretion to grant options to advisors under
the Non-Employee Plan from time to time. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Option
Price.</I> Unless otherwise determined by the Compensation Committee, the exercise price
of each option granted under the Non-Employee Plan will be 100% of the fair market value
of a share of the common stock on the date of grant. In no case will the exercise price of
an option be less than 100% of fair market value on the date of grant. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Vesting.</I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;          Formula
option grants for non-employee directors will become exercisable with           respect
to 33% of the options granted on each of the first two anniversaries of           the
date of grant, and with respect to the remainder of the options granted on           the
third anniversary of the date of grant. Formula grants become fully           exercisable
upon a change of control as defined in the Non-Employee Plan. Unless           the
Compensation Committee specifies otherwise, discretionary grants to advisors
          will become exercisable with respect to 33% of the options granted on each of
          the first two anniversaries of the date of grant, and with respect to the
          remainder of the options granted on the third anniversary of the date of grant,
          and become fully exercisable upon a change of control as defined in the
          Non-Employee Plan.  </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Term
of Options.</I> Unless otherwise specified by the Compensation Committee, the term of any
option is ten years from the date of grant. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination
of Service.</I> Following a termination of service with MasTec for any reason, all
unexercisable options will immediately terminate, and exercisable options will remain
exercisable (but not beyond the options&#146; expiration date) for one year. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exercise
of Options.</I> Payment of the exercise price may be made in cash, by tendering previously
acquired shares of MasTec&#146;s stock that have been held for six months, by a
combination of cash and surrender of shares, or another method approved by the
Compensation Committee. </FONT></P>

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<A NAME=A086></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fair Market Value </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair
market value of the common stock under the Non-Employee Plan is generally the last sale
price of a share of MasTec&#146;s common stock quoted at the close of trading for the
relevant date on the New York Stock Exchange. </FONT></P>

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<A NAME=A087></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Reorganization </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
MasTec is part of any reorganization involving merger, consolidation, acquisition of our
stock or acquisition of our assets, the Compensation Committee, in its discretion, may
decide that (i) outstanding awards apply to the securities of the resulting corporation;
(ii) outstanding options become immediately fully exercisable; and/or (iii) outstanding
options become immediately fully exercisable and terminate after 30 days&#146; notice. </FONT></P>

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<A NAME=A088></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Amendment and Termination </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
board of directors may amend, modify or terminate the Non-Employee Plan at any time.
However, no amendment, modification or termination shall result in the Non-Employee Plan
being subject to variable or other adverse accounting treatment or adversely affect, in
any way, the rights of holders of outstanding awards without their consent unless the
amendment or termination is necessary to comply with applicable law. Unless terminated
sooner, the Non-Employee Plan automatically terminates on the tenth anniversary of its
effective date. </FONT></P>

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<A NAME=A089></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Adjustments </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event MasTec is involved in a corporate transaction or any other event which affects
MasTec&#146;s common stock (such as recapitalization, reclassification, stock split, stock
dividend, extraordinary cash dividend, split-up, spin-off, combination or exchange of
shares), the Compensation Committee will adjust the number and kind of shares available
for issuance under the Non-Employee Plan, the number and kind of shares subject to
outstanding options, the exercise price of outstanding stock options, and any other
equitable adjustment. </FONT></P>

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<A NAME=A090></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Transferability </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
the Compensation Committee specifies otherwise, options are not transferable except by the
laws of descent and distribution. </FONT></P>

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<A NAME=A091></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Federal Income Tax
Consequences </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following is a brief general description of the consequences under the IRC of the receipt
or exercise of options under the Non-Employee Plan: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Incentive
Stock Options. </I>The Non-Employee Plan does not provide for the grant of incentive stock
options. </FONT> </P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Nonqualified
Stock Options.</I> Neither MasTec nor the option holder has income tax consequences from
the issuance of nonqualified stock options. Generally, upon the exercise of nonqualified
stock options, the option holder recognizes ordinary income in the amount by which the
fair market value of the shares at the time of exercise exceeds the option price for such
shares. The holder&#146;s tax basis in the shares is the fair market value of the shares
on the date of exercise. MasTec generally will have a deduction in the same amount as the
ordinary income recognized by the option holder in MasTec&#146;s tax year in which or with
which the option holder&#146;s tax year (of exercise) ends. Upon the sale of shares
acquired upon exercise, the option holder will have a capital gain (or loss) equal to the
difference between the tax basis and the sale price calculated at the applicable capital
gains rates. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
additional rules apply if the exercise price is paid in shares of our common stock held by
the optionee. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing discussion is not a complete discussion of all federal income tax aspects of the
Non-Employee Plan. Some of the provisions contained in the IRC have only been summarized,
and additional qualifications and refinements may be contained in regulations that will be
issued in the future by the Internal Revenue Service. Furthermore, subsequent legislative
changes or changes in administrative or judicial interpretation could alter significantly
the tax treatment discussed herein. No discussion of state income tax law has been
included. Each individual should consult his or her own tax advisors with respect to the
tax consequences of participation in the Non-Employee Plan and disposition of shares
acquired under the Non-Employee Plan. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>ERISA.&nbsp;</I>The
Non-Employee Plan is not, and is not intended to be, an employee benefit           plan
or qualified retirement plan. The Non-Employee Plan is not, therefore,           subject
to the Employee Retirement Income Security Act of 1974, as amended, or           Section
401(a) of the IRC.  </FONT></P>





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<A NAME=A092></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>AUDIT COMMITTEE AND
AUDIT RELATED INFORMATION </FONT></H1>

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<A NAME=A093></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Audit Committee Report </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee of MasTec is composed of three independent nonmanagement directors. The
members of the Audit Committee meet the independence and experience requirement of the New
York Stock Exchange. In 2002, the Audit Committee met four times. The Audit Committee has
adopted, and annually reviews, a charter, which provides the duties and obligations of the
Audit Committee. In April 2003, the Board of Directors approved a new charter for the
Audit Committee, a copy of which is attached to this Proxy Statement as <U>Appendix A</U>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the calendar year 2002, at each of its meetings, the Audit Committee met with senior
members of the financial management team and with independent auditors. The agenda of the
Committee is established by the Chairman. Members of the Committee had private executive
sessions, at each of its meetings, with independent auditors for the purpose of discussing
financial management, accounting and internal control issues. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee engaged Ernst &amp; Young LLP as the independent auditor for MasTec for
the year ended December 31, 2002 and reviewed with MasTec&#146;s financial management team
and the independent auditors the scope of the annual audit plan, the results of their
examination, the evaluation by the independent auditors of the internal control systems
and MasTec&#146;s financial reporting. The Committee has reviewed with management and the
independent auditors the critical accounting policies of MasTec and the reasonableness of
accounting judgments and estimates. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee also discussed with the independent auditors the matters required to be
reviewed by Statement on Auditing Standards No. 61 (Communications with Audit Committees),
as amended by Statement on Auditing Standards No. 90 (Audit Committee Communications), and
reviewed the written disclosures and related correspondence from the independent auditors
required by Independence Standards Board Standard No. 1 (Independence Discussions with
Audit Committees). The Audit Committee reviewed and discussed with the independent
auditors their independence from MasTec. In connection with discussions regarding
independence, the Audit Committee also considered with the independent auditors whether
the provision of nonaudit services by independent auditors to MasTec is compatible with
the auditors&#146; independence. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee has reviewed the audited financial statements contained in the Annual
Report on Form 10-K with our management, including a discussion of the accounting
principles, the reasonableness of judgments and estimates, the clarity of disclosure in
the financial statements and the conformity of the consolidated financial statements of
MasTec with generally accepted accounting principles. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
performing its functions, the Audit Committee acts in an oversight capacity. The Audit
Committee relies on the work and assurances of our management, which has the primary
responsibility for the financial statements and reports, and of the independent auditors,
who, in their report, express an opinion on the conformity of our annual financial
statements to generally accepted accounting principles. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR"  -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
reliance on these reviews and discussions, and the report of the independent auditors, the
Audit Committee has recommended to the Board of Directors and the Board of Directors has
approved, that the audited financial statements be included in MasTec&#146;s Annual Report
on Form 10-K for the year ended December 31, 2002. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Arthur B. Laffer, Chairman<BR>
         William N. Shiebler<BR>John Van Heuvelen </FONT></P>

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<A NAME=A094></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Audit Fees </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee is required to approve all audit and non-audit services provided by our
independent auditor, including the scope of services and fees to be paid. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees
for services rendered by Ernst &amp; Young for the audit of our annual financial
statements and review of financial statements included in quarterly reports on Form 10-Q
for calendar 2002 totaled approximately $800,000. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees
for services rendered by PricewaterhouseCoopers for the audit of our annual financial
statements and review of financial statements included in quarterly reports on Form 10-Q
for calendar 2001 totaled approximately $427,616. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A095></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Audit Related Fees </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees
for audit related services, which are services that are reasonably related to the
performance of the audit or review of quarterly financial statements, performed by Ernst
&amp; Young for calendar 2002 totaled approximately $58,070. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
were no fees for audit related services, which are services that are reasonably related to
the performance of the audit or review of quarterly financial statements, performed by
PricewaterhouseCoopers for calendar 2001. </FONT></P>

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<A NAME=A096></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Tax Fees </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees
for tax services, including compliance, tax advice and tax planning, performed by Ernst
&amp; Young for calendar 2002 totaled approximately $47,000. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees
for tax services, including compliance, tax advice and tax planning performed by
PricewaterhouseCoopers for calendar 2001 totaled approximately $262,262. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<A NAME=A097></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>All Other Fees </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
were no fees for other services not described above in 2002 and 2001. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have been advised by Ernst &amp; Young LLP that neither the firm nor any member of the
firm has any financial interest, direct or indirect, in any capacity in MasTec or our
subsidiaries. </FONT></P>

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<A NAME=A098></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Selection of Auditors </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
April 26, 2002, MasTec filed a Current Report on Form 8-K (as amended on June 11, 2002)
reporting that on April 19, 2002, the Audit Committee dismissed PricewaterhouseCoopers LLP
and engaged Ernst &amp; Young LLP as our independent auditors for the 2002 calendar year.
The Form 8-K reported that there were no adverse opinions or disclaimer of opinions and
that there were no disagreements between MasTec and PricewaterhouseCoopers involving any
matter of accounting principles or practices, financial statement disclosure or auditing
scope or procedure. The Form 8-K stated that the Audit Committee adopted a policy to
review the independent auditor selection on a periodic basis. MasTec expects that
representatives of the independent auditors for 2002 will be present at the Annual
Meeting. The independent auditor&#146;s representatives will have an opportunity to make a
statement if they so desire and will be available to respond to appropriate questions from
shareholders. </FONT></P>

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<A NAME=A099></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MISCELLANEOUS </FONT></H1>

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<A NAME=A100></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>List of MasTec&#146;s
Shareholders </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A list
of MasTec&#146;s shareholders as of March 21, 2003, the record date for the Annual
Meeting, will be available for inspection at our corporate headquarters located at 3155
N.W. 77th Avenue, Miami, Florida, during normal business hours during the 10-day period
prior to the Annual Meeting. </FONT></P>

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<A NAME=A101></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shareholders&#146;
Proposals for 2003 Annual Meeting </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
our bylaws, MasTec must receive any proposal of an eligible shareholder intended to be
presented at the Annual Meeting of Shareholders of MasTec in 2004 on or before December
31, 2003, for the proposal to be eligible for inclusion in our Proxy Statement and Proxy
related to that meeting. Any notice regarding a shareholder proposal must include the
information specified in Article I, Section 9 of our bylaws. If a shareholder fails to
comply with Article I, Section 9 of our bylaws or notifies MasTec after December 31, 2003
of an intent to present a proposal at MasTec&#146;s Annual Meeting of Shareholders in the
year 2004, the proposal will not be considered. A copy of our bylaw requirements will be
provided upon written request to: MasTec Legal Department, 3155 N.W. 77<SUP>th</SUP>
Avenue, Miami, Florida 33122-1205. </FONT></P>

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<A NAME=A102></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Householding </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
contrary instructions are received, MasTec may send a single copy of the Annual Report,
Proxy Statement and Notice of Annual Meeting to any household at which two or more
shareholders reside if MasTec believes the shareholders are members of the same family.
Each shareholder in the household will continue to receive a separate proxy card. This
process is known as &#147;householding&#148; and helps reduce the volume of duplicate
information received at a single household, which reduces costs and expenses borne by
MasTec. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
you would like to receive a separate set of MasTec&#146;s annual disclosure documents this
year or in future years, follow the instructions described below. Similarly, if you share
an address with another shareholder and the two of you would like to receive only a single
set of our annual disclosure documents, follow the instructions below: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          If your shares are registered in your own name, please contact our transfer
          agent Wachovia Securities, and inform them of your request by calling them at
          1-800-829-8432 or by writing to them at Corporate Trust Client Services NC-1153,
          1525 West W.T. Harris Boulevard 3C3, Charlotte, North Carolina 28262-1153. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para (List) Indent Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          If a bank, broker or other nominee holds your shares, please contact your bank,
          broker or other nominee directly. </FONT></P>

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<A NAME=A103></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Other Matters that May
Come Before the Annual Meeting </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors does not intend to present and knows of no others who intend to present
at the Annual Meeting any matter or business other than that set forth in the accompanying
Notice of Annual Meeting of Shareholders. If other matters are properly brought before the
Annual Meeting, it is the intention of the persons named in the accompanying form of proxy
to vote any proxies on such matters in accordance with their judgment. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MasTec&#146;s
Annual Report on Form 10-K for the year ended December 31, 2002 is being mailed or
transmitted with this Proxy Statement to shareholders of record as of March 21, 2003. The
Form 10-K does not form any part of the material for the solicitation of proxies. </FONT></P>

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<A NAME=A104></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>/s/ Cristina Canales</U><BR>
Cristina Canales, Secretary<BR>Miami, Florida<BR>April 21, 2003  </FONT></P>


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<A NAME=A107></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPENDIX A </FONT></H1>

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<A NAME=A108></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>AUDIT COMMITTEE CHARTER </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CHARTER OF THE AUDIT
COMMITTEE </FONT></P>

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<A NAME=A110></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>OF THE BOARD OF
DIRECTORS OF </FONT></P>

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<A NAME=A111></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MASTEC, INC. </FONT></P>

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<A NAME=A112></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. &nbsp;&nbsp;&nbsp;&nbsp;PURPOSE  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee (the &#147;Committee&#148;) of the Board of Directors of MasTec, Inc. (the
&#147;Company&#148;) shall assist the Board of Directors (the &#147;Board&#148;) in
fulfilling its oversight responsibilities with respect to: (i) the financial reports and
other financial information provided by the Company to the public or any governmental
body; (ii) the Company&#146;s compliance with legal and regulatory requirements; (iii) the
Company&#146;s systems of internal controls regarding finance, accounting and legal
compliance; (iv) the qualifications and independence of the Company&#146;s independent
auditors; (v) the performance of the Company&#146;s internal audit function and
independent auditors; (vi) the Company&#146;s auditing, accounting, and financial
reporting processes generally; and (vii) the performance of such other functions as the
Board may assign from time to time. To this end, the Committee will maintain free and open
communication with the Board, the independent auditors, the Company&#146;s internal
auditor and any other person responsible for the financial management of the Company. The
Committee will also prepare the report of the Committee required by the rules of the
Securities and Exchange Commission to be filed in the Company&#146;s annual proxy
statement. Consistent with its functions, the Committee will encourage continuous
improvement of, and will foster adherence to, the Company&#146;s policies, procedures and
practices at all levels. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee will primarily fulfill its responsibilities by carrying out the activities
enumerated in Section 5 of this Charter. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
an oversight body, the Committee does not have responsibility for day-to-day operations
and financial reporting. It is not the responsibility of the Committee to plan or conduct
audits or to determine that the Corporation&#146;s financial statements are complete and
accurate and are in accordance with generally accepted accounting principles; rather, this
is the responsibility of management and the independent auditors. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.&nbsp;&nbsp;&nbsp;&nbsp;
          COMPOSITION AND ORGANIZATION </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee will consist of three or more directors, each of whom must be an
&#147;Independent Director&#148; (as defined below). Members of the Committee shall be
appointed by the Board and, unless otherwise directed by the Board, shall serve one-year
terms. Members may be removed by the Board at any time with or without cause. Upon the
removal or resignation of a member, the Board may appoint a successor to serve the
remainder of the unexpired term. The Board will appoint one member of the Committee as
chairperson. If the Board fails to appoint a chairperson, the Committee will appoint one
member of the Committee as chairperson. The Company shall have the power to create
subcommittees with such powers as the Committee shall from time to time confer. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Charter, the term &#147;Independent Director&#148; means: a person other
than an officer or employee of the Company or its subsidiaries or any other individual
having a relationship which, in the opinion of the Board, would interfere with the
exercise of independent judgment in carrying out the responsibilities of a member of the
Committee or a director. The following persons shall not be considered independent: </FONT></P>

<UL TYPE="square">o        a director who is or has been employed by the Company or any of the Company's affiliates within the past five years;</UL>

<UL TYPE="square">o        a director who is currently, or within the past five years was, affiliated with or employed by a (present or former) auditor
                  of the company (or of an affiliate);</UL>

<UL TYPE="square">o        a director who is or was employed as an executive officer of another entity where any of
the Company&#146;s executives concurrently serve or served on such entity&#146;s
compensation committee in the current year or any of the past five years; or </UL>

<UL TYPE="square">o        a director who is a Family Member of an individual who is, or within the past five years was, in any of the foregoing
                  categories.</UL>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally,
the following enhanced &#147;Independent Director&#148; requirement applies to members of
the Audit Committee. The following persons will not be considered independent: </FONT></P>

<UL TYPE="square">o        a director who accepts any consulting, advisory or other compensatory fees from the
Company other than for service on the Board or a committee of the Board. </UL>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Charter, &#147;Family Member&#148; means any person who is related to the
director by blood, marriage or adoption or has the same residence. </FONT></P>

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<A NAME=A113></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3. &nbsp;&nbsp;&nbsp;&nbsp;QUALIFICATIONS  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
member of the Committee must be able to read and understand fundamental financial
statements, including the Company&#146;s balance sheet, income statement and cash flow
statement. As such requirements are phased in under the applicable rules and regulations,
the chairperson of the Committee must have past employment experience in finance or
accounting, requisite professional certification in accounting or any other comparable
experience or background which results in the individual&#146;s financial sophistication,
including being or having been a chief executive officer, chief financial officer or other
senior officer with financial oversight responsibilities or other experience as required
by applicable law and must meet the definition of &#147;financial expert&#148; as that
term is defined by the Securities and Exchange Commission and as required by the
Sarbanes-Oxley Act of 2002. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
director may serve as a member of the Committee if such director serves on the audit
committees of more than two other public companies unless the Nominating and Governance
Committee and the Board determine that such simultaneous service would not impair the
ability of such director to effectively serve on the Committee and such determination is
disclosed in the Company&#146;s annual proxy statement. </FONT></P>

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<A NAME=A114></A>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4. &nbsp;&nbsp;&nbsp;&nbsp;MEETINGS  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee will meet at least four times annually and more frequently as circumstances
dictate. The Committee chairperson will establish the agenda for each Committee meeting.
As part of its job to foster open communication, the Committee will meet at least
quarterly with management, the internal auditor and the independent auditors in separate
executive sessions to discuss any matters that the Committee or any of these groups
believe should be discussed privately. In addition, the Committee will meet with the
independent auditors and management quarterly to review the Company&#146;s financials,
consistent with Section 5 below. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.&nbsp;&nbsp;&nbsp;&nbsp;
          RESPONSIBILITIES AND DUTIES </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
fulfill its responsibilities and duties the Committee will: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Document
/ Report Review  </FONT></P>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review this
Charter at least annually, update this Charter as necessary and ensure that this Charter is posted on the Company&#146;s website.</FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review any reports or other financial information submitted to any governmental body, or
the public, including any certification, report, opinion, or review rendered by the independent auditors.  </FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review the regular internal reports to management prepared by the internal auditing
department and management&#146;s response.</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review with financial management and the independent auditors each Form 10-Q and Form 10-K
prior to its filing. </FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review, at least annually, a report by the independent auditors describing: (i)&nbsp;the
independent auditors&#146; internal quality-control procedures and (ii) any material issues raised by the most recent internal quality-control review, or
peer review, of the independent auditors, or by any inquiry or investigation by governmental or professional authorities, within the preceding five years,
respecting one or more independent audits carried out by the independent auditors, and any steps taken to deal with any such issues. </FONT></TD></TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review a formal written statement submitted by the independent auditors to the Company at least annually which delineates all relationships between the independent
auditors and the Company, consistent with Independence Standards Board Standard No. 1.</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review a report of the independent auditors prior to the filing of the Form 10-K or the release of any audited financial statements of the Company with respect to: </FONT></TD>
</TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>all critical accounting policies and practices used;</FONT></TD></TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>all alternative treatments of financial information within generally accepted accounting principles (GAAP) that have been discussed with management,
 ramifications of the use of such alternative disclosures and treatments, and the treatment preferred by the independent auditor; and </FONT></TD></TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>other material written communications between the independent auditors and management, such as any management letter or schedule of unadjusted
differences. </FONT></TD></TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(h)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review with
management, including both the Chief Executive Officer and Chief Financial Officer: (i) on a quarterly basis, the report of the Disclosure Controls
Committee and the internal control system, and (ii) on an annual basis, the internal control report to be filed with the Company&#146;s annual report on
Form 10-K.</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)</FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Prepare (or cause to be prepared) the report of the Committee to be included in           the Company&#146;s
annual proxy statement.</FONT></TD></TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.
      Independent Auditors and Other Advisors </FONT></P>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Have sole authority, without Board action, to select and hire the independent auditors, considering independence and effectiveness. On an annual basis, the Committee
should review and discuss with the independent auditors all disclosed relationships the independent auditors have with the Company to determine the
independent auditors&#146; objectivity and independence, consistent with Independence Standards Board Standard No. 1.</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Have sole authority, without Board action, to approve the independent auditors&#146;fees.
</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Have sole authority, without Board action, to approve all audit and non-audit services provided by the independent auditors, prior to the Company&#146;s receipt of
such services. All approved non-audit services shall be disclosed in the Company&#146;s periodic reports required by Section 13(a) of the Securities Exchange Act of
1934. </FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review and evaluate the qualifications, performance and independence of the independent auditors; when circumstances warrant, discharge the independent           auditors; and
nominate independent auditors for stockholder approval in the Company&#146;s annual proxy statement. The independent auditors will be accountable to the
Board and the Committee, as representatives of the stockholders of the Company.</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Periodically  consult
with the independent auditors out of the presence of management about internal controls and the fullness and accuracy of the Company&#146;s financial statements.</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Have sole
authority, without Board action, to set clear hiring policies for employees or former employees of the independent auditors, including the requirement that no
person be hired as Chief Executive Officer, Chief Financial Officer, Controller, Chief Accounting Officer or any other financial reporting oversight role if such person
was employed by the independent auditors and participated in any capacity in the audit of the Company during the one year period preceding the date of initiation of such audit. </FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Have
sole authority, without Board action, to hire and determine the fees and other retention terms for legal, accounting and other advisors to the Committee as it
sees fit.</FONT></TD></TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.
      Financial Reporting Processes </FONT></P>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)</FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Discuss
the annual audited financial statements and quarterly financial statements with
management, the internal auditor and the independent auditors, including the Company&#146;s
disclosures under &#147;Management&#146;s Discussion and Analysis of Financial Condition
and Results of Operation.&#148;</FONT> </FONT></TD>
</TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Discuss
earnings press releases, as well as financial information and earnings guidance provided
to analysts and rating agencies. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>In consultation
with the independent auditors and the internal auditor, review the integrity of the Company&#146;s internal and external financial reporting processes.</FONT></TD></TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consider the independent auditors&#146; judgments about the quality and appropriateness of the Company&#146;s accounting principles as applied in its financial reporting.</FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Consider and approve, if appropriate, major changes to the Company&#146;s accounting principles and practices as suggested by the independent auditors, management
or the internal auditing department. </FONT></TD></TR>
</TABLE>
<BR>




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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.
      Process Improvement </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Establish regular and separate systems of reporting to the Committee by each of management, the independent auditors and the internal auditor regarding any significant judgments made in management&#146;s preparation of the financial statements and
the view of each as to appropriateness of such judgments. </FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Following completion
of the annual audit, review separately with each of management, the independent auditors and the internal auditing department any problems or difficulties
encountered during the course of the audit, including any restrictions on the scope of work or access to required information, and management&#146;s response
to the problems or difficulties.</FONT></TD></TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review any significant disagreement between management and the independent auditors or the
internal auditing department in connection with the preparation of the financial statements. </FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review with the independent auditors, the internal auditing department and management the
extent to which changes or improvements in financial or accounting practices,as approved by the Committee, have been implemented.</FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Report to the Board on a regular basis and forward copies of the minutes of all meetings to the Board.</FONT></TD></TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Establish  procedures for: (i) the receipt, retention and treatment of complaints received by the
Company regarding accounting, internal accounting controls or audit matters;and (ii) the confidential anonymous submission by
employees of concerns regarding accounting or auditing matters.
 </FONT></TD>
</TR>
</TABLE>
<BR>


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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Annually review and evaluate the performance of the Committee.</FONT></TD></TR>
</TABLE>
<BR>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.
Legal Compliance  </FONT></P>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review activities,
organizational structure, and qualifications of the internal audit department.</FONT></TD></TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review,with
the Company&#146;s counsel, any legal matter that could have a significant impact on the Company&#146;s financial statements and compliance           programs and
policies. </FONT></TD></TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review and discuss the Company&#146;s risk assessment and risk management policies.
 </FONT></TD>
</TR>
</TABLE>
<BR>



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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Review
and approve all related party transactions. </FONT> </FONT></TD></TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Perform  any other activities consistent with this Charter, the Company&#146;s Bylaws and governing law, as the Committee or the Board deems necessary or appropriate.</FONT></TD></TR>
</TABLE>
<BR>





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<A NAME=A115></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPENDIX B </FONT></H1>

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<A NAME=A116></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MASTEC, INC. </FONT></H1>

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<A NAME=A117></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 EMPLOYEE STOCK
INCENTIVE PLAN </FONT></H1>

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<A NAME=A118></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 1  </FONT></H1>

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<A NAME=A119></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PLAN INFORMATION </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purpose</U>. MasTec, Inc. (the &#147;Company&#148;)
has established the MasTec, Inc. 2003 Employee Stock Incentive Plan (the &#147;SIP&#148;)
to further the growth and development of the Company. The SIP encourages the employees of
the Company and its Related Companies to obtain a proprietary interest in the Company by
owning its stock. The SIP shall also provide employees with an added incentive to
stimulate their efforts in promoting the growth, efficiency and profitability of the
Company and its Related Companies and may also help to attract potential employees to the
service of the Company and its Related Companies. Further, the SIP may encourage
employees to continue in the employ or service of the Company or a Related Company.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Awards
Available Under the SIP</U>. The SIP permits Awards of Stock Options, Restricted Stock
and Performance Shares. The types of Stock Options permitted under the SIP are incentive
stock options (&#147;ISOs&#148;), nonqualified stock options (&#147;NQSOs&#148;) and
Reload Options. The Company intends that ISOs granted under the SIP qualify as incentive
stock options under Code &sect;422. NQSOs are options that do not qualify as ISOs and are
subject to taxation under Code &sect;83. Awards of Restricted Stock and/or Performance
Shares are subject to taxation under Code &sect;83. It is intended that some Awards under
the SIP will qualify as performance-based compensation under Code &sect;162(m).  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective
Date and Term of the SIP</U>. The Board of Directors of the Company adopted the SIP on
April 21, 2003, to become effective as of May 30, 2003 (the &#147;Effective Date&#148;),
contingent upon the approval of the shareholders of the Company at the May 30, 2003
annual shareholders meeting. Unless earlier terminated by the Company, the SIP shall
remain in effect until the tenth anniversary of the Effective Date or May 30, 2013.
Notwithstanding its termination, the SIP shall remain in effect with respect to
outstanding Awards as long as any Awards are outstanding. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Operation,
Administration and Definitions</U>. The operation and administration of the SIP are
subject to the provisions of this plan document. Capitalized terms used in the SIP are
defined in Section 2 below or may be defined within the SIP.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
Compliance.</U> The SIP is intended to comply with the requirements for exemption of
stock options under the provisions of Rule 16b-3 under the 1934 Act. In addition, the SIP
is intended to comply with the requirements for performance-based compensation under Code
&sect;162(m).  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A120></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 2  </FONT></H1>

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<A NAME=A121></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PLAN DEFINITIONS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of the SIP, the terms listed below are defined as follows: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1933 Act means the Securities Act of 1933, as
amended.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1934 Act means the Securities Exchange Act of
1934, as amended.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement</U> means
a Stock Option Agreement, a Restricted Stock Agreement, or a Performance Share Agreement,
as applicable, the terms and conditions of which have been established by the Committee,
and which has been entered into between the Company and an individual Key Employee of the
Company.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Award</U> means
any award or benefit granted to any Participant under the SIP, including, without
limitation, the grant of Stock Options and the award of Restricted Stock, and/or
Performance Shares.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
     <U>Beneficiary</U> shall mean, with respect to an Optionee: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Designation of Beneficiary</U>. An Optionee&#146;s Beneficiary shall be the
               individual who is last designated in writing by the Optionee as such
               Optionee&#146;s Beneficiary under an Option. An Optionee shall designate his or
               her Beneficiary in writing on his or her Option Agreement. Any subsequent
               modification of the Optionee&#146;s Beneficiary for an Option shall be in a
               written executed letter addressed to the Company and shall be effective when it
               is received and accepted by the Committee, determined in the Committee&#146;s
               sole discretion. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Designation of Multiple Beneficiaries</U>. An Optionee may <I>not</I>
               designate more than one individual as a Beneficiary. To the extent that a
               designation purports to designate more than one individual as a Beneficiary, the
               designation shall be null and void. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>No Designated Beneficiary</U>. If, at any time, no Beneficiary has been
               validly designated by an Optionee, or the Beneficiary designated by the Optionee
               is no longer living at the time of the Optionee&#146;s death, then the
               Optionee&#146;s Beneficiary shall be deemed to be the Optionee&#146;s estate,
               and only the executor or administrator of the estate shall be permitted to
               exercise the Option. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
     <U>Board</U> means the Board of Directors of the Company. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cause</U> shall
have the same meaning prescribed in an Optionee&#146;s employment agreement if one exists
for the Optionee and the employment agreement defines &#147;cause,&#148; if no such
agreement exist or the agreement does not contain a definition for &#147;cause,&#148; the
term &#147;cause&#148; means the Optionee is terminated for one of the following reasons:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               willful and continued failure to substantially perform assigned duties with the
               Company within seven (7) days after a written demand for substantial performance
               is delivered to the Key Employee which identifies the manner in which the
               Company believes that the Key Employee has not substantially performed his
               duties; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               unlawful or willful misconduct which is economically injurious to the Company or
               to any entity in control of, controlled by or under common control with the
               Company (and its successors); </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               indictment for, conviction of, or plea of guilty or <I>nolo contendere</I> to a
               felony charge; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               drug or alcohol abuse that impairs the Key Employee&#146;s ability to perform
               the essential duties of his position; and </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               engaging in activities that are deemed to be competing with the business of the
               Company or not in the best interest of the Company. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
     <U>Change in Control</U> means the date of: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Acquisition By Person of Substantial Percentage</U>. The acquisition by a
               Person (including &#147;affiliates&#148; and &#147;associates&#148; of such
               Person, but excluding the Company, any &#147;parent&#148; or
               &#147;subsidiary&#148; of the Company, or any employee benefit plan of the
               Company or of any &#147;parent&#148; or &#147;subsidiary&#148; of the Company)
               of a sufficient number of shares of the Common Stock, or securities convertible
               into the Common Stock, and whether through direct acquisition of shares or by
               merger, consolidation, share exchange, reclassification of securities or
               recapitalization of or involving the Company or any &#147;parent&#148; or
               &#147;subsidiary&#148; of the Company, to constitute the Person the actual or
               beneficial owner of 51% or more of the Common Stock, but only if such
               acquisition occurs without approval or ratification by a majority of the members
               of the Board; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Disposition of Assets</U>. Any sale, lease, transfer, exchange, mortgage,
               pledge or other disposition, in one transaction or a series of transactions, of
               all or substantially all of the assets of the Company or of any
               &#147;subsidiary&#148; of the Company to a Person described in subsection (a)
               above, but only if such transaction occurs without approval or ratification by a
               majority of the members of the Board; or </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Substantial Change of Board Members</U>. During any fiscal year of the
               Company, individuals who at the beginning of such year constitute the Board
               cease for any reason to constitute at least a majority thereof, unless the
               election of each director who was not a director at the beginning of such period
               has been approved in advance by a majority of the directors in office at the
               beginning of the fiscal year. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=20%>&nbsp;</TD>
<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
For
purposes of this Section, the terms &#147;affiliate,&#148; &#147;associate,&#148;&#147;parent&#148; and
&#147;subsidiary&#148; shall have the respective meanings ascribed to such terms in Rule
12b-2 under Section 12 of the 1934 Act. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Code</U> means
the Internal Revenue Code of 1986, as amended. A reference to any provision of the Code
includes reference to any successor provision of the Code.  </FONT>
</TD>
</TR>
</TABLE>
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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Committee
</U>shall mean the Compensation Committee as appointed by the Board from time to time.
The Committee shall be responsible for administering and interpreting the SIP in
accordance with Section 3 below.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Common Stock </U>means the common stock, $0.10 par value per share, of the Company. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Company </U>means MasTec, Inc. and its subsidiaries or Related Companies. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disability</U> means
a Participant&#146;s eligibility to receive long-term disability benefits under a plan
sponsored by the Company or a Related Company, or if no such plan is applicable, a
Participant&#146;s inability to engage in the essential functions of his or her duties
due to a medically-determinable physical or mental impairment, illness or injury, which
can be expected to result in death or to be of long-continued and indefinite duration as
determined in the sole discretion of the Committee.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Effective Date </U>means May 30, 2003, subject to shareholder approval. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exercise Price </U>means the purchase price of the shares of Common Stock underlying a
Stock Option. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Fair Market Value </U>of the Common Stock as of a date of determination shall mean the
following: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Stock Listed and Shares Traded</U>. If the Common Stock is listed and traded
               on a national securities exchange (as such term is defined by the 1934 Act) or
               on the NASDAQ National Market System on the date of determination, the Fair
               Market Value per share shall be the last sale price of a share of the Common
               Stock on the applicable national securities exchange or National Market System
               on the date of determination at the close of trading on such date. If the Common
               Stock is traded in the over-the-counter market, the Fair Market Value per share
               shall be the average of the closing bid and asked prices on the date of
               determination. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Stock Listed But No Shares Traded</U>. If the Common Stock is listed on a
               national securities exchange or on the National Market System but no shares of
               the Common Stock are traded on the date of determination but there were shares
               traded on dates within a reasonable period before the date of determination, the
               Fair Market Value shall be the last sale price of the Common Stock on the most
               recent trade date before the date of determination at the close of trading on
               such date. If the Common Stock is regularly traded in the over-the-counter
               market but no shares of the Common Stock are traded on the date of determination
               (or if records of such trades are unavailable or burdensome to obtain) but there
               were shares traded on dates within a reasonable period before the date of
               determination, the Fair Market Value shall be the average of the closing bid and
               asked prices of the Common Stock on the most recent date before the date of
               determination. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Stock Not Listed</U>. If the Common Stock is not listed on a national
               securities exchange or on the National Market System and is not regularly traded
               in the over-the-counter market, then the Committee shall determine the Fair
               Market Value of the Common Stock from all relevant available facts, which may
               include the average of the closing bid and ask prices reflected in the
               over-the-counter market on a date within a reasonable period either before or
               after the date of determination or opinions of independent experts as to value
               and may take into account any recent sales and purchases of such Common Stock to
               the extent they are representative. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee&#146;s determination of Fair Market Value, which shall be made pursuant to the
foregoing provisions, shall be final and binding for all purposes of this SIP. </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Incentive Stock Option</U> or <U>ISO</U> means an incentive stock option within the
meaning of Code &sect;422(b).  </FONT>
</TD>
</TR>
</TABLE>
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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Key
Employee</U> means any common law employee who serves as an officer or employee of the
Company or a Related Company and who is actively employed at the time Awards are made. As
required by law, only employees of the Company and any &#147;parent&#148; or &#147;subsidiary&#148; of
the Company (as those terms are defined in Code &sect;424) are eligible to receive ISOs.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Nonqualified
Stock Option</U> or <U>NQSO</U> means an option that is not qualified as an incentive
stock option within the meaning of Code &sect;422(b).  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Optionee </U>means a Key Employee who is granted a Stock Option. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Participant </U>means an Optionee or a Recipient. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
Measures</U> means any one or more of the criteria or measurements by which specific
performance goals may be established and performance may be measured, as determined by
the Committee in its discretion, pursuant to the provisions of Section 5.2.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
Share</U> means an award of the right, subject to such conditions, restrictions and
contingencies as the Committee determines, including specifically the satisfaction of
specified Performance Measures, to receive one share of Common Stock in the future.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
Share Agreement</U> means a written agreement signed and dated by the Committee (or its
designee) and a Recipient that specifies the terms and conditions of an Award of
Performance Shares.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Person </U>means any individual, organization, corporation, partnership or other entity. </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Recipient </U>means a Key Employee who is awarded Restricted Stock or Performance Shares. </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Related
Company</U> means any member within the Company&#146;s controlled group of corporations,
as that term is defined in Code &sect;1563(a), in addition to any partnerships, joint
ventures, limited liability companies, limited liability partnerships or other entities
in which the Company owns more than a 50 percent equity interest.  </FONT>
</TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reload
Option</U> means a Stock Option granted to a Key Employee who is an Optionee who
exercises a previously held Stock Option by surrendering Common Stock for part or all of
the Exercise Price, pursuant to the provisions of the SIP.  </FONT>
</TD>
</TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Stock</U> means an Award of Common Stock subject to such conditions, restrictions and
contingencies as the Committee determines, including the satisfaction of specified
Performance Measures and/or forfeiture provisions.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Stock Agreement</U> means a written agreement signed and dated by the Committee (or its
designee) and a Recipient that specifies the terms and conditions of an Award of
Restricted Stock.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>SIP </U>means this MasTec, Inc. 2003 Employee Stock Incentive Plan. </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Stock Option</U> means an ISO, NQSO or Reload Option, as applicable, granted to a Key
Employee under the SIP.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.33&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Option Agreement</U> means a written agreement signed and dated by the Committee (or its
designee) and an Optionee that specifies the terms and conditions of a Stock Option or
Reload Option.  </FONT>
</TD>
</TR>
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<A NAME=A122></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 3  </FONT></H1>

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<A NAME=A123></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIP ADMINISTRATION </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General
Administration</U>. The SIP shall be administered and interpreted by the Committee (as
designated pursuant to Section 3.2). Subject to the express provisions of the SIP, the
Committee shall have authority to interpret the SIP, to prescribe, amend and rescind
rules and regulations relating to the SIP, to determine the terms and provisions of the
Agreements by which Awards shall be evidenced (which shall not be inconsistent with the
terms of the SIP), and to make all other determinations necessary or advisable for the
administration of the SIP, all of which determinations shall be final, binding and
conclusive.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Appointment
of Committee.</U> The Board shall appoint the Committee from among its members to serve
at the pleasure of the Board. The Board from time to time may remove members from, or add
members to, the Committee and shall fill all vacancies thereon. The Committee at all
times shall be composed of two or more non-employee directors who are deemed independent
directors by the Board and who shall meet the following requirements:  </FONT>
</TD>
</TR>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <I>Disinterested Administration for Rule 16b-3 Exemption.</I> During the period
               any director is serving on the Committee, he shall not be (i) an officer of the
               Company or a parent or subsidiary of the Company, or otherwise currently
               employed by the Company or a parent or subsidiary of the Company; (ii) does not
               receive compensation, either directly or indirectly, from the Company or a
               parent or subsidiary of the Company for services rendered as a consultant or in
               any capacity other than as a director, except for an amount that does not exceed
               the dollar amount for which disclosure would be required pursuant to Rule 404(a)
               of the 1934 Act; (iii) does not possess an interest in any other transaction for
               which disclosure would be required pursuant to Rule 404(a); and (iv) is not
               engaged in a business relationship for which disclosure would be required
               pursuant to Rule 404(b). The requirements of this subsection are intended to
               comply with Rule 16b-3 under Section 16 of the 1934 Act or any successor rule or
               regulation, and shall be interpreted and construed in a manner which assures
               compliance with said Rule. To the extent said Rule 16b-3 is modified to reduce
               or increase the restrictions on who may serve on the Committee, the SIP shall be
               deemed modified in a similar manner. </FONT></TD>
               </TR>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <I>Outside Director Rule for Compliance with Code Section 162(m).</I> No
               director serving on the Committee may be a current employee of the Company or a
               former employee of the Company (or any corporation affiliated with the Company
               under Code &sect;1504) receiving compensation for prior services (other than
               benefits under a tax-qualified retirement plan) during each taxable year during
               which the director serves on the Committee. Furthermore, no director serving on
               the Committee shall be or have ever been an officer of the Company (or any Code
               &sect;1504 affiliated corporation), or shall receive remuneration (directly or
               indirectly) from such a corporation in any capacity other than as a director.
               The requirements of this subsection are intended to comply with the
               &#147;outside director&#148; requirements of Treas. Reg. &sect;1.162-27(e)(3) or
               any successor regulation, and shall be interpreted and construed in a manner
               which assures compliance with the &#147;outside&#148; director requirement of
               Code &sect;162(m)(4)(C)(i). </FONT></TD>
               </TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization</U>.
The Committee shall hold its meetings at such times and at such places as it shall deem
advisable. A majority of the Committee shall constitute a quorum, and such majority shall
determine its actions. The Committee shall keep minutes of its proceedings and shall
report the same to the Board at the meeting next succeeding.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Powers
of Committee.</U> The Committee may make one or more Awards under the SIP to a Key
Employee who shall become a Participant in the SIP. The Committee shall decide to whom
and when to grant an Award, the type of Award that it shall grant and the number of
shares of Common Stock covered by the Award. The Committee shall also decide the terms,
conditions, performance criteria, restrictions and other provisions of the Award. The
Committee may grant a single Award or an Award in combination with another Award(s) to a
Participant. In making Award decisions, the Committee may take into account the nature of
services rendered by the individual, the individual&#146;s present and potential
contribution to the Company&#146;s success and such other factors as the Committee, in
its sole discretion, deems relevant.  </FONT>
</TD>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               In accordance with Section 5 of the SIP, the Committee shall decide whether and
               to what extent Awards under the SIP shall be structured to conform with Code
               &sect;162(m) requirements for the exemption applicable to performance-based
               compensation. The Committee may take any action, establish any procedures and
               impose any restrictions that it finds necessary or appropriate to conform to
               Code &sect;162(m). If every member of the Committee does not meet the definition
               of &#147;outside director&#148; as defined in Code &sect;162(m), the Committee
               shall form a subcommittee of those members who do meet that definition, and that
               subcommittee shall have all authority and discretion to act as the Committee to
               make Awards that conform with Code &sect;162(m). </FONT></TD>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Committee shall interpret the SIP, establish and rescind any rules and
               regulations relating to the SIP, decide the terms and provisions of any
               Agreements made under the SIP, and determine how to administer the SIP. The
               Committee also shall decide administrative methods for the exercise of Stock
               Options. Each Committee decision shall be final, conclusive and binding on all
               parties. </FONT></TD>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Committee shall act by a majority of its then members, at a meeting of the
               Committee or by unanimous written consent. The Committee shall keep adequate
               records concerning the SIP and the Committee&#146;s proceedings and acts in such
               form and detail as the Committee may decide. </FONT></TD>
               </TR>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delegation
by Committee</U>. Unless prohibited by applicable law or the applicable rules of a stock
exchange, the Committee may allocate or delegate all or some of its responsibilities. The
Committee also may delegate all or some of its administrative responsibilities and powers
to any person or persons it selects. The Committee delegates to the Company&#146;s
counsel the authority to document any and all Awards made by the Committee under the SIP
by execution of the appropriate agreements. The Committee may revoke any such allocation
or delegation at any time.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Information
to be Furnished to Committee</U>. In order for the Committee to discharge its duties, it
may require the Company, its Related Companies, Participants and other persons entitled
to benefits under the SIP to provide it with certain data and information.  </FONT>
</TD>
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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.
In addition to such other rights of indemnification that they have as members of the
Board or the Committee, the Company shall indemnify the members of the Committee (and any
designees of the Committee as permitted under this Section 3), to the extent permitted by
applicable law, against reasonable expenses (including, without limitation, attorney&#146;s
fees) actually and necessarily incurred in connection with the defense of any action,
suit or proceeding, or in connection with any appeal, to which they or any of them may be
a party by reason of any action taken or failure to act under or in connection with the
SIP or any Award awarded hereunder, and against all amounts paid by them in settlement
thereof (provided such settlement is approved to the extent required by and in the manner
provided by the articles of incorporation or the bylaws of the Company relating to
indemnification of the members of the Board) or paid by them in satisfaction of a
judgment in any such action, suit or proceeding, except in relation to such matters as to
which it is adjudged in such action, suit or proceeding that such Committee member or
members (or their designees) did not act in good faith and in a manner reasonably
believed to be in or not opposed to the best interests of the Company.  </FONT>
</TD>
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<A NAME=A124></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 4  </FONT></H1>

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<A NAME=A125></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>STOCK SUBJECT TO THE
SIP </FONT></H1>

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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Stock Subject to Awards.</U> </FONT>
</TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock
subject to Awards and other provisions of the SIP shall consist of the following: </FONT></P>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               authorized but unissued shares of Common Stock; </FONT></TD>
               </TR>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               shares of Common Stock held by the Company in its treasury which have been
               reacquired; </FONT></TD>
               </TR>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               shares of Common Stock purchased by the Company in the open market; or </FONT></TD>
               </TR>
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               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               shares of Common Stock allocable to the unexercised portion of any expired or
               terminated Option granted under the SIP again may become available for grants of
               Options under the SIP. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Shares
of Common Stock Subject to Awards</U>. Subject to adjustment in accordance with the
provisions of Section 9, the maximum number of shares of Common Stock that may be issued
under the SIP shall equal 2,500,000 shares of Common Stock, plus an increase as of each
December 31 (commencing on December 31, 2003) equal to a number of shares equal to the
difference between the number of shares subject to grants made under the SIP during the
12-month period ending on such December 31, less any shares subject to grants that again
became available for issuance under the SIP due to forfeiture, termination, surrender or
other cancellation of the underlying grant without such shares being issued, provided
that, notwithstanding the foregoing, in no event shall more than an aggregate of
7,000,000 shares of common stock be authorized for issuance during the term of the SIP
(unless the SIP is amended in accordance with its terms and in compliance with all
applicable statutes, rules and regulations).  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A127></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 5  </FONT></H1>

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<A NAME=A128></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PERFORMANCE-BASED
COMPENSATION </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Awards
of Performance-Based Compensation</U>. At its discretion, the Committee may make Awards
to Participants intended to comply with the &#147;performance-based&#148;compensation
provisions of Code Section 162(m). Therefore, the number of shares becoming exercisable
or transferable or amounts payable with respect to grants of Stock Options, awards of
Restricted Stock and/or Performance Shares may be determined based on the attainment of
written performance goals approved by the Committee for a performance period. The
performance goal shall state, in terms of an objective formula or standard, the method of
computing the amount of compensation payable to the Participant if the goal is attained.
The performance goals must be established by the Committee in writing at the time of
award. The outcome of the performance goal must be substantially uncertain at the time
the Committee establishes the performance goal. Performance goals will be based on the
attainment of one or more Performance Measures. To the degree consistent with Code &sect;162(m),
the performance goals may be calculated without regard to extraordinary or nonrecurring
items.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
Measures</U>. Performance measures may be based on non-GAAP criteria or terms, including,
but not limited to, the following: (i) earnings before interest expense, taxes,
depreciation and amortization (&#147;EBITDA&#148;); (ii) earnings before interest expense
and taxes (&#147;EBIT&#148;); (iii) net earnings; (iv) net income; (v) operating income;
(vi) earnings per share; (vii) growth; (viii) return on shareholders&#146; equity; (ix)
capital expenditures; (x) expenses and expense ratio management; (xi) return on
investment; (xii) improvements in capital structure; (xiii) profitability of an
identifiable business unit or product; (xiv) profit margins; (xv) stock price; (xvi)
market share; (xvii) revenues or sales; (xviii) costs; (xix) cash flow; (xx) working
capital; (xxi) return on assets; (xxii) economic value added; (xxiii) industry indices;
(xxiv) peer group performance; (xxv) asset quality; (xxvi) gross margin; (xxvii)
operating profit; and (xxviii) gross or net profit. Performance measures may relate to
the Company and/or one or more of its Related Companies, one or more of its divisions or
units or any combination of the foregoing, on a consolidated or nonconsolidated basis,
and may be applied on an absolute basis or be relative to one or more peer group
companies or indices, or any combination thereof, all as the Committee determines. In
addition, to the extent consistent with the requirements of Code &sect;162, the
performance measures may be calculated without regard to extraordinary or nonrecurring
items.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Shareholder
Approval</U>. For Awards to constitute performance-based compensation under Code &sect;162(m),
the material terms of Performance Measures on which the performance goals are to be based
must be disclosed to and subsequently approved by the Company&#146;s shareholders prior
to payment of the compensation. Shareholder approval of the SIP is necessary for the
Awards to meet the Code &sect;162(m) exemption.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Code
&sect;162(m) Committee and Committee Certification</U>. Awards intended to qualify for
exemption as performance-based compensation shall be granted by a committee of &#147;outside
directors&#148; as defined in Code &sect;162(m). Pursuant to the provisions of Section
3.1(b) hereof, the Committee may establish a Code &sect;162(m) subcommittee, if
necessary, to make such grants. Any payment of compensation with respect to an Award that
is intended to be performance-based compensation will be subject to the written
certification of the Code &sect;162(m) Committee that the Performance Measures were
satisfied prior to the payment of the performance-based compensation. This written
certification may include the approved minutes of the Committee meeting in which the
certification is made.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A129></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 6  </FONT></H1>

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<A NAME=A130></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>STOCK OPTIONS </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Option Agreement</U>. When the Committee grants a Stock Option hereunder, it shall
prepare (or cause to be prepared) a Stock Option Agreement that specifies the following
terms and any additional terms and conditions determined by the Committee and not
inconsistent with the SIP:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the name of the Optionee; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the total number of shares of Common Stock to which the Stock Option pertains; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the Exercise Price of the Stock Option; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the date as of which the Committee granted the Stock Option; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the type of Stock Option granted; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the requirements for the Stock Option to become exercisable, such as continuous
               service, time-based schedule, period and goals for Performance Measures to be
               satisfied, additional consideration, and forfeiture or cancellation provisions; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               whether Reload Options are available with respect to the Stock Option and if so,
               any limitations on the granting of or number of successive Reload Options that
               may be granted with regard to the Stock Option and any Reload Options under the
               Stock Option; and </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(h) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the expiration date of the Option. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Number of Shares for Option Awards</U>. Subject to readjustment pursuant to Section 9 of
the SIP, the maximum number of shares that may be awarded under Stock Options to any
individual during any one calendar year is 750,000 shares. Notwithstanding any other
provision of the SIP, subject to readjustment pursuant to Section 9 of the SIP the
maximum number of shares that may be awarded as ISOs under the SIP shall be 7,000,000
shares.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A131></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exercise Price.</U> </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The per share Exercise Price of each ISO shall be 100% of the Fair Market Value
               of a share of Common Stock as of the date of grant (110% of the Fair Market
               Value of a share of Common Stock as of the date of grant for an ISO Optionee who
               owns more than ten percent of the voting power of all classes of stock of either
               the Company or any &#147;parent&#148; or &#147;subsidiary&#148; of the Company
               as defined in Code &sect;424). </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The per share Exercise Price of each NQSO shall be 100% of the Fair Market Value
               of a share of Common Stock as of the date of grant. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<A NAME=A132></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exercisability</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>General Schedule</U>. Unless the Committee specifies otherwise in the Stock
               Option Agreement, each Stock Option shall become exercisable according to the
               following schedule: </FONT></TD>
               </TR>
               </TABLE>
               <BR>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="1" WIDTH="600" ALIGN="CENTER">
<TR VALIGN=Bottom>
     <TD WIDTH="50%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>As of the following anniversary of the <BR>Stock Option's date of grant:</B> </FONT></TD>
     <TD WIDTH="50%" ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2"><B>The Stock Option shall become<BR> exercisable in the following percentages:</B></FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One-year anniversary</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>33%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Two-year anniversary</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>33%</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Three-year anniversary</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>34%(entire remaining)</FONT></TD></TR>
</TABLE>
<BR>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%>&nbsp;</TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Before
the one-year anniversary of the date of grant, no part of the Stock Option is exercisable.
Once a portion of a Stock Option is exercisable, that portion continues to be exercisable
until the Stock Option expires (as described in Section 6.5 hereof). Fractional shares
shall be carried forward to the third-year anniversary grant.</FONT></TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Other Vesting Requirements</U>. The Committee may impose any other
               conditions, restrictions, forfeitures and contingencies on awards of Stock
               Options. Such conditions, restrictions, forfeitures and contingencies may
               consist of a requirement of continuous service and/or the satisfaction of
               specified Performance Measures. The Committee may designate a single goal
               criterion or multiple goal criteria for performance measurement purposes. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Accelerated Exercisability</U>. The Committee shall always have the power to
               accelerate the exercisability of any Stock Option granted under the SIP. In the
               event of one of the following events, any outstanding Stock Options shall
               immediately become fully exercisable, unless otherwise determined by the
               Committee and set forth in the applicable Stock Option Agreement: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               the
Optionee&#146;s death; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               the
Optionee&#146;s Disability; or </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               a
Change of Control of the Company. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Expiration Date</U>. The Expiration Date of any Stock Option shall be the earliest to
occur of the following: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Maximum Term</U>. The date ten (10) years from the date of grant of the Stock
               Option (or five (5) years from the date of grant for an ISO for an Optionee who
               owns more than ten percent of the voting power of all classes of stock of either
               the Company or any &#147;parent&#148; or &#147;subsidiary&#148; of the Company
               as defined in Code &sect;424); </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Termination for Cause and Voluntary Termination.</U> The date of the
               Optionee&#146;s termination of employment with the Company and all Related
               Companies due to discharge for Cause or voluntary termination (other than
               retirement after the attainment of age 65 as specified below) by the Optionee; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Death.</U> The one-year anniversary of the Optionee&#146;s termination of
               employment with the Company and all Related Companies due to death, or such
               shorter period as determined by the Committee and set forth in the Stock Option
               Agreement; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Disability</U>. The one-year anniversary of the Optionee&#146;s termination
               of employment with the Company and all Related Companies due to Disability, or
               such shorter period as determined by the Committee and set forth in the Stock
               Option Agreement; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Retirement.</U> The one-year anniversary, or such shorter period as
               determined by the Committee and set forth in the Stock Option Agreement, of the
               Optionee&#146;s termination of employment with the Company and all Related
               Companies due to the retirement after attainment of age 65 or </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Termination of Employment</U>. The ninety (90) day anniversary of the date of
               the Optionee&#146;s termination of employment with the Company and all Related
               Companies for any reason other than those specified elsewhere in this Section
               6.5, or such shorter period as determined by the Committee and set forth in the
               Stock Option Agreement; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Extension of Expiration Date.</U> The Committee shall always have the
               authority and discretion to extend the Expiration Date of any Stock Option as
               long as the extended Expiration Date is not later than the tenth anniversary of
               the date of grant (or five years from the date of grant for an ISO for an
               Optionee who owns more than ten percent of the voting power of all classes of
               stock of either the Company or any &#147;parent&#148; or &#147;subsidiary&#148;
               of the Company as defined in Code &sect;424). To the extent the Committee
               extends the Expiration Date of an ISO beyond any legal period for ISO tax
               treatment, the ISO shall automatically convert to a NQSO for the remainder of
               the extended exercise period. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Exercise Amount</U>. Unless the Committee specifies otherwise in the Stock Option
Agreement, an Optionee may exercise a Stock Option for less than the full number of
shares of Common Stock subject to the Stock Option. However, such exercise may not be
made for less than 100 shares or the total remaining shares subject to the Stock Option.
The Committee may in its discretion specify other Stock Option terms, including
restrictions on frequency of exercise and periods during which Stock Options may not be
exercised.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Exercise Price</U>. The Optionee must pay the full Exercise Price for shares of Common
Stock purchased upon the exercise of any Stock Option at the time of such exercise by one
of the following forms of payment:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               cash; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               by surrendering unrestricted previously held shares of Common Stock that have a
               value equal to the Exercise Price at the time of exercise. The Optionee must
               have held the surrendered shares of Common Stock for at least six months before
               their surrender. The Optionee may surrender shares of Common Stock either by
               attestation or by the delivery of a certificate or certificates for shares duly
               endorsed for transfer to the Company, and if required by the Committee, with
               medallion level signature guarantee by a member firm of a national stock
               exchange, by a national or state bank (or guaranteed or notarized in such other
               manner as the Committee may require); or </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any combination of the above forms or any other form of payment permitted by the
               Committee. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reload
Options</U>. When the Committee grants a Stock Option, it shall designate in the Stock
Option Agreement whether a Reload Option accompanies the Stock Option and any limitations
that will apply to the granting of a Reload Option. Unless otherwise designated by the
Committee in the applicable Stock Option Agreement, a Stock Option shall not be subject
to any Reload Options. If it so desires, the Committee may permit multiple, successive
Reload Options for a Stock Option, and may designate such in the Stock Option Agreement;
but if no number of Reload Options is specified in the Stock Option Agreement that
provides for Reload Options, then the Option shall be subject to only one Reload Option.
Notwithstanding the terms of any Stock Option Agreement, the Committee shall grant Reload
Options only to Participants who are actively employed in good standing by the Company or
a Related Company at the time the grant of the Reload Option is to be made. If the
Committee has designated a Stock Option as having an accompanying Reload Option, the
Committee shall grant a Reload Option for the same number of shares as is surrendered by
the Optionee in payment of the Exercise Price (but not for shares surrendered for tax or
other withholding obligations) upon exercise of the Stock Option. The Reload Option shall
have the same terms and conditions as the related original Stock Option, including the
expiration date of the original Stock Option, except that (i) the Exercise Price for a
Reload Option shall be the Fair Market Value of the Common Stock as of the date of grant
of such Reload Option, and (ii) the Reload Option shall become fully exercisable six
months after its date of grant (except as may be limited by ISO requirements).  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
An Optionee may transfer Stock Options under the SIP only by the laws of descent and
distribution and shall be exercisable during the Optionee&#146;s lifetime only by the
Optionee (or a legal representative if the Optionee becomes disabled). After the death of
an Optionee, only the executor or administrator of the Optionee&#146;s estate may
exercise an outstanding Stock Option.  </FONT>
</TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights
as a Shareholder</U>. An Optionee shall first have rights as a shareholder of the Company
with respect to shares of Common Stock covered by a Stock Option only when the Optionee
has paid the Exercise Price in full and the shares actually have been issued to the
Optionee.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A133></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 7  </FONT></H1>

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<A NAME=A134></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>RESTRICTED STOCK </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Stock Agreement</U>. When the Committee awards Restricted Stock under the SIP, it shall
prepare (or cause to be prepared) a Restricted Stock Agreement that specifies the
following terms:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the name of the Recipient; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the total number of shares of Common Stock subject to the Award of Restricted
               Stock; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the manner in which the Restricted Stock will become nonforfeitable and
               transferable and a description of any restrictions applicable to the Restricted
               Stock; and </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               the date as of which the Committee awarded the Restricted Stock. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Award Per Year</U>. Subject to readjustment pursuant to Section 9 of the SIP, the maximum
number of shares that may be awarded as Restricted Stock to any individual during any one
calendar year is 750,000 shares.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting</U>.
Unless the Committee specifies in the Restricted Stock Agreement that an alternative
vesting schedule shall apply, that other vesting requirements shall apply or that no
vesting requirements shall apply, an Award of Restricted Stock shall become vested and
nonforfeitable on the third anniversary of the date of grant if the Recipient is an
employee of the Company on that date, and before the third anniversary of the date
of the Award, no portion of the Restricted Stock shall be vested.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Vesting Requirements</U>. The Committee may impose any other conditions, restrictions,
forfeitures and contingencies on awards of Restricted Stock. Such conditions,
restrictions, forfeitures and contingencies may consist of a requirement of continuous
service and/or the satisfaction of specified Performance Measures. The Committee may
designate a single goal criterion or multiple goal criteria for performance measurement
purposes. The Committee may determine, in accordance with Section 5 of the SIP, whether
such vesting requirements will conform with the requirements applicable to
performance-based compensation under Code &sect;162(m).  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accelerated
Vesting</U>. The Committee shall always have the right to accelerate vesting of any
Restricted Stock awarded under this SIP.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               In the event of one of the following events, any outstanding Awards of
               Restricted Stock that remain subject to vesting requirements shall immediately
               become vested pursuant to the provisions of subsection (b) hereof, unless
               otherwise determined by the Committee and set forth in the applicable Restricted
               Stock Agreement: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               the
Recipient&#146;s death; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               the
Recipient&#146;s Disability; or </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               a
Change in Control of the Company. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               If an outstanding Award of Restricted Stock remains subject only to a time-based
               vesting schedule (<I>i.e</I>., one that requires only that the Recipient remain
               employed for the passage of a specified time period), then such Award shall
               immediately become fully vested and nonforfeitable upon one of the events in
               subsection (a) above. If an outstanding Award of Restricted Stock remains
               subject to any other type of vesting schedule or requirement (<I>e.g.</I>, a
               performance-based schedule), then upon one of the events in subsection (a)
               above, a proportion of the shares subject to such Award shall become vested and
               nonforfeitable, equal to the proportion of the time completed through the date
               of the applicable event to the performance measurement period for the Award,
               with target performance level deemed to be achieved as of the date of the
               applicable event. In the event an Award was originally scheduled without a
               designated target performance level (<I>e.g.</I>, a single performance level or
               minimum and maximum performance levels), then the performance level that, if
               met, would have resulted in the least number of shares becoming vested shall be
               treated as the target level. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Employment</U>. Unless the Committee decides otherwise, all shares of Restricted Stock
that remain subject to restriction upon the Recipient&#146;s termination of employment,
other than shares of Restricted Stock accelerated under Section 7.5(b), shall be
forfeited by the Recipient.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A135></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery of Restricted Stock</U>.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Issuance</U>. The Company shall issue a certificate representing the shares
               of Restricted Stock within a reasonable period of time after execution of the
               Restricted Stock Agreement; provided, if any law or regulation requires the
               Company to take any action (including, but not limited to, the filing of a
               registration statement under the 1933 Act and causing such registration
               statement to become effective) with respect to such shares before the issuance
               thereof, then the date of delivery of the shares shall be extended for the
               period necessary to take such action. As long as any restrictions apply to the
               Restricted Stock, the shares of Restricted Stock may be held by the Committee in
               uncertificated form in a restricted account. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Legend</U>. Unless the certificate representing shares of the Restricted
               Stock are deposited with a custodian (as described in subparagraph (c) hereof),
               each certificate shall bear the following legend (in addition to any other
               legend required by law): </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%>&nbsp;</TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#147;The
transferability of this certificate and the shares represented hereby are subject to the
restrictions, terms and conditions (including forfeiture and restrictions against
transfer) contained in the MasTec, Inc. 2003 Stock Incentive Plan and a Restricted Stock
Agreement dated __________, ____, between ________________ and MasTec, Inc. The Plan and
the Restriction Agreement are on file in the office of the Chief Financial Officer of
MasTec, Inc.&#148;</FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=20%>&nbsp;</TD>
<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Such
legend shall be removed or canceled from any certificate evidencing shares of Restricted
Stock as of the date that such shares become nonforfeitable.</FONT></TD>
</TR>
</TABLE>
<BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Deposit with Custodian</U>. As an alternative to delivering a stock
               certificate to the Recipient, the Committee may deposit or transfer such shares
               electronically to a custodian designated by the Committee. The Committee shall
               cause the custodian to issue a receipt for the shares to the Recipient for any
               Restricted Stock so deposited. The custodian shall hold the shares and deliver
               the same to the Recipient in whose name the Restricted Stock evidenced thereby
               are registered only after such shares become nonforfeitable. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
Unless the Committee specifies otherwise in the Restricted Stock Agreement, a Recipient
may not sell, exchange, transfer, pledge, hypothecate or otherwise dispose of shares of
Restricted Stock awarded under this SIP while such shares are still subject to
restriction.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
of Restricted Stock Award</U>. Upon issuance of the shares of the Restricted Stock, the
Recipient shall have immediate rights of ownership in the shares of Restricted Stock,
including the right to vote the shares and the right to receive dividends with respect to
the shares, notwithstanding any outstanding restrictions on the Restricted Stock.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A136></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 8  </FONT></H1>

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<A NAME=A137></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PERFORMANCE SHARES </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
Share Agreement</U>. When the Committee awards Performance Shares under the SIP, the
Committee shall prepare (or cause to be prepared) a Performance Share Agreement that
specifies the following terms:  </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;the
name of the Recipient; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;the total number of Performance Shares awarded;
</TR>
</TABLE>
<BR>

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<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;        the
period over which performance is to be measured, which may be of a           short-term
or long-term duration; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;        the
specific Performance Measures upon satisfaction of which the Performance           Shares
are to become vested and nonforfeitable; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;          the
specific dates as of which Performance Measures are to be measured; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f) </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;          whether
the awarded Performance Shares are eligible for dividend credit (as           provided in
Section 8.4 below); and </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(g) </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;          the
date as of which the Committee awarded the Performance Shares. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum
Award Per Year</U>. Subject to readjustment pursuant to Section 9 of the SIP, the maximum
number of shares that may be awarded as Performance Shares to any individual during any
one calendar year is 750,000 shares.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Performance
Share Account</U>. When the Committee awards Performance Shares hereunder, the Company
shall establish a bookkeeping account for the Recipient that shall accurately reflect the
number of Performance Shares awarded to the Recipient.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Dividend
Credits</U>. Unless otherwise determined by the Committee, on each date on which a
dividend is distributed by the Company on shares of Common Stock (whether paid in cash,
Common Stock or other property), the Recipient&#146;s Performance Share account shall be
credited with an additional whole or fractional number of Performance Shares as a
dividend credit. The number of additional Performance Shares to be credited shall be
determined by dividing the product of the dividend value times the number of Performance
Shares standing in the Recipient&#146;s account on the dividend record date by the Fair
Market Value of the Common Stock on the date of the distribution of the dividend (<I>i.e</I>.,
dividend amount x number of whole and fractional Performance Shares as of the dividend
record date / Fair Market Value of Common Stock as of dividend distribution date).
Accounts shall be maintained and determinations shall be calculated to three decimal
places.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting</U>.
The Committee shall specify in the Performance Share Agreement the manner in which
Performance Shares shall vest and become nonforfeitable, as well as any conditions,
restrictions, forfeitures and contingencies to which the Performance Shares are subject.
Such conditions, restrictions, forfeitures and contingencies may consist of a requirement
of continuous service and the satisfaction of specified Performance Measures. The
Committee may designate a single goal criterion or multiple goal criteria for performance
measurement purposes. The Committee may determine, in accordance with Section 5 of the
SIP, whether such vesting requirements will conform with the requirements applicable to
performance-based compensation under Code &sect;162(m).  </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accelerated
Vesting</U>. The Committee shall always have the right to accelerate vesting of any
Performance Shares awarded under this SIP.  </FONT>
</TD>
</TR>
</TABLE>
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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               In the event of one of the following events, any outstanding Awards of
               Performance Shares that remain subject to vesting requirements shall immediately
               become vested pursuant to the provisions of subsection (b) hereof, unless
               otherwise determined by the Committee and set forth in the applicable
               Performance Share Agreement: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               the
Recipient&#146;s death; </FONT> </FONT></TD>
</TR>
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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               the
Recipient&#146;s Disability; or </FONT> </FONT></TD>
</TR>
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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               a
Change in Control of the Company. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               If an outstanding Award of Performance Shares remains subject to performance
               criteria, then upon one of the events in subsection (a) above, a proportion of
               the shares subject to such Award shall become vested and nonforfeitable, equal
               to the proportion of the time completed through the date of the applicable event
               to the performance measurement period for the Award, with target performance
               level deemed to be achieved as of the date of the applicable event. In the event
               an Award was originally scheduled without a designated target performance level
               (<I>e.g.</I>, a single performance level or minimum and maximum performance
               levels), then the performance level that, if met, would have resulted in the
               least number of shares becoming vested shall be treated as the target level. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Employment</U>. Unless the Committee decides otherwise, all shares of Performance
Shares that remain subject to restriction upon the Recipient&#146;s termination of
employment, other than Performance Shares accelerated under Section 8.6(b), shall be
forfeited<B></B>by the Recipient.  </FONT>
</TD>
</TR>
</TABLE>
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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery
of Common Stock</U>. Upon vesting, Performance Shares shall be converted into Common
Stock and the Common Stock shall be issued to the Recipient. Any fractional Performance
Share that becomes vested shall be paid to the Recipient in cash based upon the Fair
Market Value of an equivalent fraction of a share of the Common Stock on such date. Upon
actual issuance of the shares of the Performance Shares, the Recipient shall have
immediate rights of ownership in the shares of Performance Shares, including the right to
vote the shares and the right to receive dividends with respect to the shares,
notwithstanding any outstanding restrictions on the Performance Shares.  </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
A Recipient may not sell, exchange, transfer, pledge, hypothecate or otherwise dispose of
Performance Shares awarded under this SIP.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Waiver of Restrictions</U>. The Committee may elect, in its sole discretion, to waive
any or all restrictions with respect to an award of Performance Shares. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A138></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 9  </FONT></H1>

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<A NAME=A139></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ADJUSTMENTS UPON
CHANGES IN CAPITALIZATION </FONT></H1>

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<A NAME=A140></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Certain Corporate Transactions</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Recapitalization</U>. If the Company is involved in a corporate transaction
               or any other event which affects the Common Stock (including, without
               limitation, any recapitalization, reclassification, reverse or forward stock
               split, stock dividend, extraordinary cash dividend, split-up, spin-off,
               combination or exchange of shares), then the Committee shall adjust Awards to
               preserve the benefits or potential benefits of the Awards as follows: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall take action to adjust the number and kind of shares
               of Common Stock that are issuable under the SIP; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall take action to adjust the number and kind of shares of
               Common Stock subject to outstanding Awards; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall take action to adjust the Exercise Price of outstanding
               Stock Options; and </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall make any other equitable adjustments. </FONT> </FONT></TD>
</TR>
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<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Only whole shares of Common Stock shall be issued in making the above adjustments. Further, the number of shares available under the SIP or
the number of shares of Common Stock subject to any outstanding Awards shall be the next
lower number of shares, so that fractions are rounded downward. Any adjustment to or
assumption of ISOs under this Section shall be made in accordance with Code &sect;424. If
the Company issues any rights or warrants to subscribe for additional shares pro rata to
holders of outstanding shares of the class or classes of stock then set aside for the
SIP, then each Optionee shall be entitled to the same rights or warrants on the same
basis as holders of outstanding shares with respect to such portion of the Optionee&#146;s
Stock Option as is exercised on or prior to the record date for determining shareholders
entitled to receive or exercise such rights or warrants.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)  </FONT></TD>
<TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Reorganization</U>.
If the Company is part of any reorganization involving                merger,
consolidation, acquisition of the Common Stock or acquisition of the
               assets of the Company, the Committee, in its discretion, may decide that:
</FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               any
or all outstanding Awards granted under the SIP shall pertain to and apply,
               with appropriate adjustment as determined by the Committee, to the
securities of                the resulting corporation to which a holder of the number of
shares of the                Common Stock subject to each such Award would have been
entitled; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               any
or all outstanding Stock Options granted hereunder shall become immediately
               fully exercisable (to the extent permitted under federal or state
securities                laws); </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               any
or all Stock Options granted hereunder shall become immediately fully
               exercisable (to the extent permitted under federal or state securities
laws) and                shall be terminated after giving at least 30 days&#146; notice
to the                Participants to whom such Stock Options have been granted; and/or
</FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               any
or all awards of Restricted Stock and Performance Shares hereunder shall
               become immediately fully vested, nonforfeitable and/or payable.</FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Limits on Adjustments</U>. Any issuance by the Company of stock of any class
               other than the Common Stock, or securities convertible into shares of stock of
               any class, shall not affect, and no adjustment by reason thereof shall be made
               with respect to, the number or price of shares of the Common Stock subject to
               any Stock Option, except as specifically provided otherwise in this SIP. The
               grant of Awards under the SIP shall not affect in any way the right or authority
               of the Company to make adjustments, reclassifications, reorganizations or
               changes of its capital or business structure or to merge, consolidate or
               dissolve, or to liquidate, sell or transfer all or any part of its business or
               assets. All adjustments the Committee makes under this SIP shall be conclusive. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<A NAME=A141></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 10  </FONT></H1>

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<A NAME=A142></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIP OPERATION  </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Other Laws and Regulations</U>. Distribution of shares of Common Stock
under the SIP shall be subject to the following: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Notwithstanding any other provision of the SIP, the Company shall not be
               required to issue any shares of Common Stock under the SIP unless such issuance
               complies with all applicable laws (including, without limitation, the
               requirements of the 1933 Act and Section 16 of the 1934 Act) and the applicable
               requirements of any securities exchange or similar entity. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               When the SIP provides for issuance of Common Stock, the Company may issue shares
               of Common Stock on a noncertificated basis as long as it is not prohibited by
               applicable law or the applicable rules of any stock exchange. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Company may require a Participant to submit evidence that the Participant is
               acquiring shares of Common Stock for investment purposes. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax
Withholding</U>. The Participant must pay to the Company an amount necessary to cover the
minimum required income tax and other withholdings before the Company shall issue Common
Stock under the SIP. The Participant may satisfy the withholding requirements by any one
or combination of the following methods:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               payment in cash; or </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               payment by surrendering unrestricted previously held shares of Common Stock
               which have a value equal to the required withholding amount. The Optionee must
               have held the surrendered shares of Common Stock for at least six months before
               their surrender. The Optionee may surrender shares of Common Stock either by
               attestation or by the delivery of a certificate or certificates for shares duly
               endorsed for transfer to the Company, and if required, with medallion level
               signature guarantee by a member firm of a national stock exchange, by a national
               or state bank (or guaranteed or notarized in such other manner as the Committee
               may require). </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitation
of Implied Rights</U>. The SIP is not a contract of employment. A Key Employee selected
as a Participant shall not have the right to be retained as an employee of the Company or
any Related Company and shall not have any right or claim under the SIP, unless such
right or claim has specifically accrued under the terms of the SIP.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
of Participation in the SIP</U>. When the Committee makes an Award, it shall require a
Participant to enter into an Agreement in a form specified by the Committee, agreeing to
the terms and conditions of the Award and to such additional terms and conditions, not
inconsistent with the terms and conditions of the SIP, as the Committee may, in its sole
discretion, prescribe. If there is a conflict between any provision of an Agreement and
the SIP, the SIP shall control.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence</U>.
Anyone required to give evidence under the SIP may give such evidence by certificate,
affidavit, document or other information which the person acting on the evidence
considers pertinent, reliable and signed, made or presented by the proper party or
parties.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
and Termination of the SIP and Agreements</U>. The Board may amend, modify or terminate
the SIP at any time. No such amendment, modification or termination shall result in the
SIP as a whole being subject to variable, or other adverse, accounting treatment or
adversely affect, in any way, the rights of individuals who have outstanding Awards
unless such individuals consent to such amendment or termination or such amendment or
termination is necessary to comply with applicable law. The Committee may amend any
Agreement that it previously has authorized under the SIP if the amended Agreement is
signed by the Company and the applicable Participant.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Gender
and Number; Headings</U>. Words in any gender shall include any other gender, words in
the singular shall include the plural and the plural shall include the singular. The
headings in this SIP are for convenience of reference. Headings are not a part of the SIP
and shall not be considered in the construction hereof.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
References</U>. Any reference in this SIP to a provision of law which is later revised,
modified, finalized or redesignated, shall automatically be considered a reference to
such revised, modified, finalized or redesignated provision of law.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
In order for a Participant or other individual to give notice or other communication to
the Committee, the notice or other communication shall be in the form specified by the
Committee and delivered to the location designated by the Committee in its sole
discretion.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>. The SIP is governed by and shall be construed in accordance with the
laws of the State of Florida. </FONT>
</TD>
</TR>
</TABLE>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPENDIX C </FONT></H1>


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<A NAME=A143></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MASTEC, INC. </FONT></H1>

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<A NAME=A144></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 STOCK INCENTIVE
PLAN FOR NON-EMPLOYEES </FONT></H1>

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<A NAME=A145></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 1  </FONT></H1>

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<A NAME=A146></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PURPOSE </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purpose</U>.
The purpose of this Plan is to further the growth and development of the Company by
encouraging Directors who are not employees and nonemployee advisors and consultants to
the Company to obtain a proprietary interest in the Company by owning its stock. The
Company intends that the Plan will provide such persons with an added incentive to
continue to serve as Directors and will stimulate their efforts in promoting the growth,
efficiency and profitability of the Company. The Company also intends that the Plan will
afford the Company a means of attracting persons of outstanding quality to service on the
Board and on the boards of directors of Related Companies. The Company also intends to
permit grants or awards to nonemployee advisors to provide incentive to continue to serve
the Company.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Awards
Available Under the Plan</U>. The Plan permits grants of nonqualified stock options (&#147;NQSOs&#148;).
NQSOs are options that do not qualify as &#147;incentive stock options&#148; under Code
Section 422 and are subject to taxation under Code &sect;83.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective
Date and Term of the Plan</U>. The Board of Directors of the Company adopted the Plan on
April 21, 2003, to become effective as of May 30, 2003 (the &#147;Effective Date&#148;),
contingent upon the approval of the shareholders of the Company at the May 30, 2003
annual shareholders meeting. Unless earlier terminated by the Company, the Plan shall
remain in effect until the tenth anniversary of the Effective Date or May 30, 2013.
Notwithstanding its termination, the Plan shall remain in effect with respect to Options
as long as any Options are outstanding. </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Operation,
Administration and Definitions</U>. The operation and administration of the Plan are
subject to the provisions of this plan document. Capitalized terms used in the Plan are
defined in Section 2 below or may be defined within the Plan.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
Compliance.</U> The Plan is intended to comply with the requirements for exemption of
stock options under the provisions of Rule 16b-3 under the 1934 Act.  </FONT>
</TD>
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<A NAME=A147></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 2  </FONT></H1>

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<A NAME=A148></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DEFINITIONS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following words and phrases as used in this Plan shall have the meanings set forth in this
Section unless a different meaning is clearly required by the context: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>1933 Act </U>shall mean the Securities Act of 1933, as amended. </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>1934 Act </U>shall mean the Securities Exchange Act of 1934, as amended. </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Advisor</U> shall
mean any individual who serves as an advisor or consultant to the Company or a Related
Company under a relationship other than that of a common law employee of the Company or a
Related Company (including but not limited to independent contractors.)  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement</U> means
an Option Agreement, the terms and conditions of which have been established by the
Committee, and which has been entered into between the Company and an individual Director
or Advisor.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Beneficiary </U>shall mean, with respect to an Optionee: </FONT>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Designation of Beneficiary</U>. An Optionee&#146;s Beneficiary shall be the
               individual who is last designated in writing by the Optionee as such
               Optionee&#146;s Beneficiary under an Option. An Optionee shall designate his or
               her Beneficiary in writing on his or her Option Agreement. Any subsequent
               modification of the Optionee&#146;s Beneficiary for an Option shall be in a
               written executed letter addressed to the Company and shall be effective when it
               is received and accepted by the Committee, determined in the Committee&#146;s
               sole discretion. </FONT></TD>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Designation of Multiple Beneficiaries</U>. An Optionee may <I>not</I>
               designate more than one individual as a Beneficiary. To the extent that a
               designation purports to designate more than one individual as a Beneficiary, the
               designation shall be null and void. </FONT></TD>
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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>No Designated Beneficiary</U>. If, at any time, no Beneficiary has been
               validly designated by an Optionee, or the Beneficiary designated by the Optionee
               is no longer living at the time of the Optionee&#146;s death, then the
               Optionee&#146;s Beneficiary shall be deemed to be the Optionee&#146;s estate,
               and only the executor or administrator (or a trustee designated by the executor)
               of the estate shall be permitted to exercise the Option. </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Board </U>shall mean the Board of Directors of MasTec, Inc. </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Change of Control </U>shall mean the date of: </FONT>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Acquisition By Person of Substantial Percentage</U>. The acquisition by a
               Person (including &#147;affiliates&#148; and &#147;associates&#148; of such
               Person, but excluding the Company, any &#147;parent&#148; or
               &#147;subsidiary&#148; of the Company, or any employee benefit plan of the
               Company or of any &#147;parent&#148; or &#147;subsidiary&#148; of the Company)
               of a sufficient number of shares of the Common Stock, or securities convertible
               into the Common Stock, and whether through direct acquisition of shares or by
               merger, consolidation, share exchange, reclassification of securities or
               recapitalization of or involving the Company or any &#147;parent&#148; or
               &#147;subsidiary&#148; of the Company, to constitute the Person the actual or
               beneficial owner of 51% or more of the Common Stock, but only if such
               acquisition occurs without approval or ratification by a majority of the members
               of the Board; </FONT></TD>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Disposition of Assets</U>. Any sale, lease, transfer, exchange, mortgage,
               pledge or other disposition, in one transaction or a series of transactions, of
               all or substantially all of the assets of the Company or of any
               &#147;subsidiary&#148; of the Company to a Person described in subsection (a)
               above, but only if such transaction occurs without approval or ratification by a
               majority of the members of the Board; or </FONT></TD>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Substantial Change of Board Members</U>. During any fiscal year of the
               Company, individuals who at the beginning of such year constitute the Board
               cease for any reason to constitute at least a majority thereof, unless the
               election of each director who was not a director at the beginning of such period
               has been approved in advance by a majority of the directors in office at the
               beginning of the fiscal year. </FONT></TD>
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<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
For
purposes of this Section, the terms &#147;affiliate,&#148; &#147;associate,&#148;&#147;parent&#148; and
&#147;subsidiary&#148; shall have the respective meanings ascribed to such terms in Rule
12b-2 under Section 12 of the 1934 Act.</FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Code</U> shall
mean the Internal Revenue Code of 1986, as amended. A reference to a section of the Code
shall include all regulations, rulings and other authority issued thereunder.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Committee</U> shall
mean the Compensation Committee as appointed by the Board from time to time. The
Committee shall be responsible for administering and interpreting the Plan in accordance
with Section 3 below.  </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Common Stock </U>shall mean the par value $0.10 common stock of the Company. </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Company </U>shall mean MasTec, Inc. and its subsidiaries or any Related Company. </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Director</U> shall
mean an individual who (i) is serving as a member of the Board and (ii) is not and never
has been either an officer or common law employee of the Company or a Related Company.
For purposes of the Plan, a &#147;common law employee&#148; is an individual whose wages
are subject to withholding of federal income taxes under Code Section 3401, and an &#147;officer&#148; is
an individual elected or appointed by the Board or chosen in such other manner as may be
prescribed in the bylaws of the Company to serve as such.  </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Effective Date </U>shall mean May 30, 2003, subject to shareholder approval. </FONT>
</TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exercise Price </U>shall mean the purchase price of the shares of Common Stock underlying
an Option. </FONT>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Fair Market Value </U>of the Common Stock as of a date of determination shall mean the
following: </FONT>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Stock Listed and Shares Traded</U>. If the Common Stock is listed and traded
               on a national securities exchange (as such term is defined by the 1934 Act) or
               on the NASDAQ National Market System on the date of determination, the Fair
               Market Value per share shall be the last sale price of a share of the Common
               Stock on the applicable national securities exchange or National Market System
               on the date of determination at the close of trading on such date. If the Common
               Stock is traded in the over-the-counter market, the Fair Market Value per share
               shall be the average of the closing bid and asked prices on the date of
               determination. </FONT></TD>
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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Stock Listed But No Shares Traded</U>. If the Common Stock is listed on a
               national securities exchange or on the National Market System but no shares of
               the Common Stock are traded on the date of determination but there were shares
               traded on dates within a reasonable period before the date of determination, the
               Fair Market Value shall be the last sale price of the Common Stock on the most
               recent trade date before the date of determination at the close of trading on
               such date. If the Common Stock is regularly traded in the over-the-counter
               market but no shares of the Common Stock are traded on the date of determination
               (or if records of such trades are unavailable or burdensome to obtain) but there
               were shares traded on dates within a reasonable period before the date of
               determination, the Fair Market Value shall be the average of the closing bid and
               asked prices of the Common Stock on the most recent date before the date of
               determination. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Stock Not Listed</U>. If the Common Stock is not listed on a national
               securities exchange or on the National Market System and is not regularly traded
               in the over-the-counter market, then the Committee shall determine the Fair
               Market Value of the Common Stock from all relevant available facts, which may
               include the average of the closing bid and ask prices reflected in the
               over-the-counter market on a date within a reasonable period either before or
               after the date of determination or opinions of independent experts as to value
               and may take into account any recent sales and purchases of such Common Stock to
               the extent they are representative. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee&#146;s determination of Fair Market Value, which shall be made pursuant to the
foregoing provisions, shall be final and binding for all purposes of this Plan. </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>NQSO</U> shall
mean a nonqualified stock option to purchase shares of the Common Stock, which is an
option to which Code &sect;422 (relating to certain incentive stock options) does <I>not</I> apply.  </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Option </U>shall mean a NQSO granted to an individual pursuant to the terms and
provisions of this Plan. </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Option
Agreement</U> shall mean a written agreement, executed and dated by the Company and an
Optionee, evidencing an Option granted under the terms and provisions of this Plan,
setting forth the terms and conditions of such Option, and specifying the name of the
Optionee, the number of shares of stock subject to such Option and other terms and
conditions of the Option.  </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Optionee</U> shall
mean any nonemployee Director or Advisor who is granted an Option pursuant to the terms
and provisions of this Plan.  </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Person </U>shall mean any individual, organization, corporation, partnership or other
entity. </FONT>
</TD>
</TR>
</TABLE>
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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Plan </U>shall mean this MasTec, Inc. 2003 Stock Incentive Plan For Non-Employees. </FONT>
</TD>
</TR>
</TABLE>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Related
Company</U> means any member within the Company&#146;s controlled group of corporations,
as that term is defined in Code &sect;1563(a), in addition to any partnerships, joint
ventures, limited liability companies, limited liability partnerships or other entities
in which the Company owns more than a 50 percent interest.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A149></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 3  </FONT></H1>

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<A NAME=A150></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ADMINISTRATION </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General
Administration</U>. The Plan shall be administered and interpreted by the Committee (as
designated pursuant to Section 3.2). Subject to the express provisions of the Plan, the
Committee shall have authority to interpret the Plan, to prescribe, amend and rescind
rules and regulations relating to the Plan, to determine the terms and provisions of the
Option Agreements by which Options shall be evidenced (which shall not be inconsistent
with the terms of the Plan), and to make all other determinations necessary or advisable
for the administration of the Plan, all of which determinations shall be final, binding
and conclusive.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Appointment</U>.
The Board shall appoint the Committee from among its members to serve at the pleasure of
the Board. The Board from time to time may remove members from, or add members to, the
Committee and shall fill all vacancies thereon. The Committee at all times shall be
composed of two or more non-employee directors who shall meet the following requirements<I>.</I> During
the period any director is serving on the Committee, he shall not (i) be an officer of
the Company or a parent or subsidiary of the Company, or otherwise currently employed by
the Company or a parent or subsidiary of the Company; (ii) receive compensation, either
directly or indirectly, from the Company or a parent or subsidiary of the Company for
services rendered as a consultant or in any capacity other than as a director, except for
an amount that does not exceed the dollar amount for which disclosure would be required
pursuant to Rule 404(a) of the 1934 Act; (iii) possess an interest in any other
transaction for which disclosure would be required pursuant to Rule 404(a); and (iv) be
engaged in a business relationship for which disclosure would be required pursuant to
Rule 404(b). The requirements of this subsection are intended to comply with Rule 16b-3
under Section 16 of the 1934 Act or any successor rule or regulation, and shall be
interpreted and construed in a manner which assures compliance with said Rule. To the
extent said Rule 16b-3 is modified to reduce or increase the restrictions on who may
serve on the Committee, the Plan shall be deemed modified in a similar manner.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization</U>.
The Committee shall hold its meetings at such times and at such places as it shall deem
advisable. A majority of the Committee shall constitute a quorum, and such majority shall
determine its actions. The Committee shall keep minutes of its proceedings and shall
report the same to the Board at the meeting next succeeding.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Powers
of Committee.</U> The Committee may grant one or more Options under the terms of the Plan
to Advisors. Except for the formula grant provisions of Section 6.4 of the Plan, the
Committee shall decide to whom and when to grant an Option and the number of shares of
Common Stock covered by the Option. In making decisions, the Committee may take into
account the nature of services rendered by the individual, the individual&#146;s present
and potential contribution to the Company&#146;s success and such other factors as the
Committee, in its sole discretion, deems relevant.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Committee shall interpret the Plan, establish and rescind any rules and
               regulations relating to the Plan, decide the terms and provisions of any Option
               Agreements made under the Plan, and determine how to administer the Plan. The
               Committee also shall decide administrative methods for the exercise of Options.
               Each Committee decision shall be final, conclusive and binding on all parties. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Committee shall act by a majority of its then members, at a meeting of the
               Committee or by unanimous written consent. The Committee shall keep adequate
               records concerning the Plan and the Committee&#146;s proceedings and acts in
               such form and detail as the Committee may decide. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.
In addition to such other rights of indemnification as they have as directors or as
members of the Committee, the members of the Committee (and any designees of the
Committee as permitted under this Section 3), to the extent permitted by applicable law,
shall be indemnified by the Company against reasonable expenses (including, without
limitation, attorneys&#146; fees) actually and necessarily incurred in connection with
the defense of any action, suit or proceeding, or in connection with any appeal, to which
they or any of them may be a party by reason of any action taken or failure to act under
or in connection with the Plan or any Options granted hereunder, and against all amounts
paid by them in settlement thereof (provided such settlement is approved to the extent
required by and in the manner provided by the articles or certificate of incorporation or
the bylaws of the Company relating to indemnification of directors) or paid by them in
satisfaction of a judgment in any such action, suit or proceeding, except in relation to
matters as to which it shall be adjudged in such action, suit or proceeding that such
Committee member or members did not act in good faith and in a manner he or they
reasonably believed to be in or not opposed to the best interest of the Company.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A151></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 4  </FONT></H1>

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<A NAME=A152></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>STOCK </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Stock Subject to Options</U>. The Common Stock subject to Options and other provisions
of the Plan shall consist of the following: </FONT>
</TD>
</TR>
</TABLE>
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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               authorized but unissued shares of Common Stock; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               shares of Common Stock held by the Company in its treasury which have been
               reacquired; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               shares of Common Stock purchased by the Company in the open market; or </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               shares of Common Stock allocable to the unexercised portion of any expired or
               terminated Option granted under the Plan again may become available for grants
               of Options under the Plan. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Number
of Shares Available for Options</U>. Subject to readjustment in accordance with the
provisions of Section 7, the total number of shares of Common Stock for which Options may
be granted under the Plan shall be 1,000,000 shares of Common Stock, plus an increase as
of each December 31 (commencing on December 31, 2003) equal to a number of shares equal
to the difference between the number of shares subject to grants made under the Plan
during the 12-month period ending on such December 31, less any shares subject to grants
that again became available for issuance under the Plan due to forfeiture, termination,
surrender or other cancellation of the underlying grant without such shares being issued.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A153></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 5  </FONT></H1>

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<A NAME=A154></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ELIGIBILITY TO RECEIVE
AND GRANT OF OPTIONS </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Individuals
Eligible for Grants of Options</U>. The individuals eligible to receive Options hereunder
shall be solely those individuals who are Directors (as defined in Section 2.12 of the
Plan) or Advisors (as defined in Section 2.3 of the Plan). Such Directors and Advisors
shall receive Options hereunder in accordance with the provisions of Sections 5.2 and 5.3
below.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Formula
Grants of Options</U>. Effective upon the Effective Date, Options shall be granted to
Directors (as defined in Section 2.12 of the Plan) in accordance with the following
formulas:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Option Upon Initially Becoming a Director</U>. Upon initially becoming a
               Director and each reelection to serve a three-year term as a Director, the
               Director shall be granted an Option to purchase 20,000 shares of Common Stock as
               of the first business day of the month following appointment or election, with
               such Option subject to the provisions of Section 6 below. Options granted under
               this subsection shall be evidenced by an Option Agreement. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Service Option Grants</U>. As each Director begins a service year in which
               the Director does not receive an Option grant pursuant to Section 5.2(a) above,
               the Director shall be granted an Option to purchase 7,500 shares of Common Stock
               as of the first business day of the month following the date of the annual
               shareholders meeting, with such Option subject to the provisions of Section 6
               below. Options granted under this subsection shall be evidenced by an Option
               Agreement. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Insufficient Shares</U>. In the event that the number of shares available for
               grants under the Plan is insufficient to make all grants provided herein on the
               applicable date, then all those who become entitled to a grant on such date
               shall share ratably in the number of shares then available for grant under the
               Plan. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Discretionary
Grants of Options</U>. Subject to the provisions of the Plan, the Committee shall have
the authority and sole discretion to determine and designate, from time to time, Advisors
(as defined in Section 2.3 of the Plan) to whom Options will be granted, the Exercise
Price of the shares covered by any Options granted, and the manner in and conditions
under which Options are exercisable (including, without limitation, any limitations or
restrictions thereon). In making such determinations, the Committee may take into account
the nature of the services rendered by the respective individuals to whom Options may be
granted, their present and potential contributions to the Company&#146;s success and such
other factors as the Committee, in its sole discretion, shall deem relevant. In its
authorization of the granting of an Option hereunder, the Committee shall specify the
name of the Optionee, the number of shares of common stock subject to such Option, the
exercise price of the Option, the term of the Option and any restrictions, conditions,
forfeitures or cancellation provisions. The Committee may grant, at any time, new Options
to an Optionee who previously has received Options, whether such Options include prior
Options that still are outstanding, previously have been exercised in whole or in part,
or have expired. No individual shall have any claim or right to be granted Options under
the Plan.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A155></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 6  </FONT></H1>

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<A NAME=A156></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TERMS AND CONDITIONS
OF OPTIONS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise
provided by the Committee, Options granted hereunder and Option Agreements shall comply
with and be subject to the following terms and conditions: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Requirement
of Option Agreement</U>. Upon the grant of an Option hereunder, the Committee shall
prepare (or cause to be prepared) an Option Agreement. The Committee shall present such
Option Agreement to the Optionee. Upon execution of such Option Agreement by the
Optionee, such Option shall be deemed to have been granted effective as of the date of
grant. The failure of the Optionee to execute the Option Agreement within 30 days after
the date of the receipt of same shall render the Option Agreement and the underlying
Option null and void <I>ab initio</I>.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Optionee
and Number of Shares</U>. Each Option Agreement shall state the name of the Optionee and
the total number of shares of the Common Stock to which it pertains, the Exercise Price,
the Beneficiary of the Optionee, and the date as of which the Option was granted under
this Plan.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
Price</U>. Except as determined by the Committee with respect to Options granted under
Section 5 above, the Exercise Price of the shares of Common Stock underlying each Option
shall be the Fair Market Value of the Common Stock on the date the Option is granted;
provided, in no case shall the Exercise Price be less than 100% of the Fair Market Value
of the Common Stock on the date the Option is granted. Upon execution of an Option
Agreement by both the Company and Optionee, the date as of which the Option was granted
under this Plan as noted in the Option Agreement shall be considered the date on which
such Option is granted.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A157></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Exercisability of Options</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Formula Grants</U>. Each Option granted under Section 5.2 shall first become
               exercisable with respect to such portions of the shares subject to such Option
               as are specified in the schedule set forth hereinbelow: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Commencing
as of the first anniversary of the date the Option is granted, the
               Optionee shall have the right to exercise the Option with respect to, and
to                thereby purchase, 33 percent (rounded down to the nearest whole number)
of the                shares subject to such Option. Prior to said date, the Option shall
be                unexercisable in its entirety. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Commencing
as of the second anniversary of the date the Option is granted, the
               Optionee shall have the right to exercise the Option with respect to, and
to                thereby purchase, an additional 33 percent (rounded down to the nearest
whole                number) of the shares subject to the Option. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Commencing
as of the third anniversary of the date the Option is granted, the
               Optionee shall have the right to exercise the Option with respect to, and
to                thereby purchase, the remainder of the shares subject to the Option.
</FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Notwithstanding
the above, any Options previously granted to an Optionee shall become immediately exercisable for 100% of the number of shares subject to the
               Options upon a Change of Control. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Discretionary Grants</U>. Unless the Committee specifies otherwise in the
               Option Agreement, each Option granted under Section 5.3 shall first become
               exercisable with respect to such portions of the shares subject to such Option
               as are specified in the schedule set forth herein below: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Commencing
as of the first anniversary of the date the Option is granted, the
               Optionee shall have the right to exercise the Option with respect to, and
to                thereby purchase, 33 percent (rounded down to the nearest whole number)
of the                shares subject to such Option. Prior to said date, the Option shall
be                unexercisable in its entirety. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Commencing
as of the second anniversary of the date the Option is granted, the
               Optionee shall have the right to exercise the Option with respect to, and
to                thereby purchase, an additional 33 percent (rounded down to the nearest
whole                number) of the shares subject to the Option. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Commencing
as of the third anniversary of the date the Option is granted, the
               Optionee shall have the right to exercise the Option with respect to, and
to                thereby purchase, the remainder of the shares subject to the Option.
</FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               Notwithstanding
the above, any Options previously granted to an Optionee shall become immediately exercisable for 100% of the number of shares subject to the
               Options upon a Change of Control. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
than as provided above, if an Optionee ceases to be a Director or Advisor of the Company,
his rights with regard to all then unexercised Options shall cease immediately. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Expiration Date</U>. The Expiration Date of any Option shall be the earliest to occur
of the following: </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Maximum Term</U>. The date ten (10) years from the date of grant of the
               Option; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Death.</U> Unless the Committee specifies otherwise in the Option Agreement,
               the one-year anniversary of the Optionee&#146;s termination of service with the
               Company and all Related Companies due to death; or </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Termination of Service as Director or Advisor</U>. Unless the Committee
               specifies otherwise in the Option Agreement, the one-year anniversary of the
               Optionee&#146;s termination of service as a Director or Advisor of the Company
               other than as provided under Section 6.5(b) above. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum
Exercise Amount</U>. The exercise of an Option may be for less than the full number of
shares of Common Stock subject to such Option, but such exercise shall not be made for
less than (i) 100 shares or (ii) the total remaining shares subject to the Option, if
such total is less than 100 shares. Subject to the other restrictions on exercise set
forth herein, the unexercised portion of an Option may be exercised at a later date by
the Optionee.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Exercise Price</U>. The Optionee must pay the full Exercise Price for shares of Common
Stock purchased upon the exercise of any Option at the time of such exercise by one of
the following forms of payment:  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               cash; </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               by surrendering unrestricted previously held shares of Common Stock that have a
               fair market value equal to the Exercise Price at the time of exercise. The
               Optionee must have held the surrendered shares of Common Stock for at least six
               (6) months before their surrender. The Optionee may surrender shares of Common
               Stock either by attestation or by the delivery of a certificate or certificates
               for shares duly endorsed for transfer to the Company, and if required by the
               Committee, with medallion level signature guarantee by a member firm of a
               national stock exchange, by a national or state bank (or guaranteed or notarized
               in such other manner as the Committee may require); or </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               any combination of the above forms or any other form of payment permitted by the
               Committee. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
Unless the Committee specifies otherwise in the Option Agreement, an Optionee may
transfer Options only by the laws of descent and distribution. After the death of an
Optionee, only a named Beneficiary or the executor or administrator of the Optionee&#146;s
estate may exercise an outstanding Option.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights
as a Shareholder</U>. An Optionee shall first have rights as a shareholder of the Company
with respect to shares of Common Stock covered by an Option only when the Optionee has
paid the Exercise Price in full and the shares actually have been issued to the Optionee.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A158></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 7  </FONT></H1>

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<A NAME=A159></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ADJUSTMENTS UPON
CHANGES IN CAPITALIZATION </FONT></H1>

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<A NAME=A160></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Certain Corporate Transactions</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Recapitalization</U>. If the Company is involved in a corporate transaction
               or any other event which effects the Common Stock (including, without
               limitation, any recapitalization, reclassification, reverse or forward stock
               split, stock dividend, extraordinary cash dividend, split-up, spin-off,
               combination or exchange of shares), then the Committee shall adjust outstanding
               Options to preserve the benefits or potential benefits of the Options as
               follows: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall<B></B>take action to adjust the number and kind of shares
               of Common Stock that are issuable under the Plan; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall take action to adjust the number and kind of shares of
               Common Stock subject to outstanding Options; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall take action to adjust the Exercise Price of outstanding
               Options; and </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iv)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               The
Committee shall make any other equitable adjustments. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=20%>&nbsp;</TD>
<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Only
whole shares of Common Stock shall be issued in making the above adjustments. Further,
the number of shares available under the Plan or the number of shares of Common Stock
subject to any outstanding Options shall be the next lower number of shares, so that
fractions are rounded downward. If the Company issues any rights or warrants to subscribe
for additional shares pro rata to holders of outstanding shares of the class or classes
of stock then set aside for the Plan, then each Optionee shall be entitled to the same
rights or warrants on the same basis as holders of outstanding shares with respect to
such portion of the Optionee&#146;s Option as is exercised on or prior to the record date
for determining shareholders entitled to receive or exercise such rights or warrants.</FONT></TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Reorganization</U>. If the Company is part of any reorganization involving
               merger, consolidation, acquisition of the Common Stock or acquisition of the
               assets of the Company, the Committee, in its discretion, may decide that: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(i)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               any
or all outstanding Options granted under the Plan shall pertain to and
               apply, with appropriate adjustment as determined by the Committee, to the
               securities of the resulting corporation to which a holder of the number of
               shares of the Common Stock subject to each such Option would have been
entitled; </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(ii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               any
or all outstanding Options granted hereunder shall become immediately fully
               exercisable (to the extent permitted under federal or state securities
laws);                and/or </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(iii)  </FONT></TD>
<TD WIDTH=70%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>               any
or all Options granted hereunder shall become immediately fully exercisable
               (to the extent permitted under federal or state securities laws) and shall
be                terminated after giving at least 30 days&#146; notice to the Directors
and                Advisors to whom such Options have been granted. </FONT> </FONT></TD>
</TR>
</TABLE>
<BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               <U>Limits on Adjustments</U>. Any issuance by the Company of stock of any class
               other than the Common Stock, or securities convertible into shares of stock of
               any class, shall not affect, and no adjustment by reason thereof shall be made
               with respect to, the number or price of shares of the Common Stock subject to
               any Option, except as specifically provided otherwise in this Plan. Option
               grants under the Plan shall not affect in any way the right or authority of the
               Company to make adjustments, reclassifications, reorganizations or changes of
               its capital or business structure or to merge, consolidate or dissolve, or to
               liquidate, sell or transfer all or any part of its business or assets. All
               adjustments the Committee makes under this Plan shall be conclusive. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<A NAME=A161></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 8  </FONT></H1>

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<A NAME=A162></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PLAN OPERATION </FONT></H1>

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<A NAME=A163></A>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Compliance with Other Laws and Regulations</U>. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=20%>&nbsp;</TD>
<TD WIDTH=80%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Distribution
of shares of Common Stock under the Plan shall be subject to the following: </FONT></TD>
</TR>
</TABLE>
<BR>

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               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Notwithstanding any other provision of the Plan, the Company shall not be
               required to issue any shares of Common Stock under the Plan unless such issuance
               complies with all applicable laws (including, without limitation, the
               requirements of the 1933 Act and Section 16 of the 1934 Act) and the applicable
               requirements of any securities exchange or similar entity. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               When the Plan provides for issuance of Common Stock, the Company may issue
               shares of Common Stock on a noncertificated basis as long as it is not
               prohibited by applicable law or the applicable rules of any stock exchange. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=20%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
               <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Company may require an Optionee to submit evidence that the Optionee is
               acquiring shares of Common Stock for investment purposes. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitation
of Implied Rights</U>. The Plan is not a contract of employment or a contract for
continued service as a Director or an Advisor. Neither a Director nor an Advisor selected
as an Optionee shall have the right to be retained as a director or an advisor of the
Company or any Related Company and shall not have any right or claim under the Plan,
unless such right or claim has specifically accrued under the terms of the Plan.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence</U>.
Anyone required to give evidence under the Plan may give such evidence by certificate,
affidavit, document or other information which the person acting on the evidence
considers pertinent, reliable and signed, made or presented by the proper party or
parties.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
and Termination of the Plan and Agreements</U>. The Board may amend, modify or terminate
the Plan at any time. No such amendment, modification or termination shall result in the
Plan as a whole being subject to variable, or other adverse, accounting treatment or
adversely affect, in any way, the rights of individuals who have outstanding Options
unless such individuals consent to such amendment or termination or such amendment or
termination is necessary to comply with applicable law. The Committee may amend any
Agreement that it previously has authorized under the Plan if the amended Agreement is
signed by the Company and the applicable Optionee.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Gender
and Number; Headings</U>. Words in any gender shall include any other gender, words in
the singular shall include the plural and the plural shall include the singular. The
headings in this Plan are for convenience of reference. Headings are not a part of the
Plan and shall not be considered in the construction hereof.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legal
References</U>. Any reference in this Plan to a provision of law which is later revised,
modified, finalized or redesignated, shall automatically be considered a reference to
such revised, modified, finalized or redesignated provision of law.  </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
In order for a Director or Advisor or other individual to give notice or other
communication to the Committee, the notice or other communication shall be in the form
specified by the Committee and delivered to the location designated by the Committee in
its sole discretion.  </FONT>
</TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Governing Law</U>. The Plan is governed by and shall be construed in accordance with
the laws of the State of Florida. </FONT>
</TD>
</TR>
</TABLE>
<BR>

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<A NAME=A164></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">ADOPTED BY BOARD OF
DIRECTORS ON April 21, 2003 </FONT> </H1>

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<A NAME=A165></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TO BE APPROVED BY
SHAREHOLDERS ON MAY 30, 2003  </FONT></P>


<!-- MARKER PAGE="sheet: 6; page: 6" -->
<HR SIZE=5 COLOR=GRAY NOSHADE>

<p align=center>&nbsp;</p>

<div align="center">
  <center>

<table border=0 cellspacing=0 cellpadding=0 style="border-collapse: collapse" bordercolor="#111111">
 <tr>
  <td width=331 valign=top>
  <p><font face="Arial" size="6"><b>MasTec</b></font></p>
  <p><font face="Arial"><b><i>&nbsp;3155 NW 77<sup>th</sup> AVENUE<br>
  MIAMI, FL 33122</i></b></font></p>
  </td>
  <td width=307 valign=top>
  <p align="justify"><font face="Arial" size="1"><b>VOTE BY INTERNET - <u>www.proxyvote.com </u></b>
  </font><br>
  <font face="Arial" size="1">Use the Internet to transmit
  your voting instructions and for electronic delivery of information up until
  11:59 P.M. Eastern Time the day before the cut-off date or meeting date.&nbsp; Have your proxy card in hand when you
  access the web site.&nbsp; You will be
  prompted to enter your 12-digit Control Number which is located below to
  obtain your records and to create an electronic voting instruction form.</font></p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p align="justify"><font face="Arial" size="1"><b>VOTE BY PHONE - 1-800-690-6903</b><br>
  Use any touch-tone telephone to
  transmit your voting instructions up until 11:59 P.M. Eastern Time the day
  before the cut-off date or meeting date.&nbsp;
  Have your proxy card in hand when you call.&nbsp; You will be prompted to enter your 12-digit Control Number
  which is located below and then follow the simple instructions the Vote Voice
  provides you.</font></p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p align="justify"><font face="Arial" size="1"><b>VOTE BY MAIL -<br>
  </b>Mark, sign, and date your proxy
  card and return it in the postage-paid envelope we have provided or return it
  to MasTec, Inc., c/o ADP, 51 Mercedes Way, Edgewood, NY&nbsp; 11717.</font></p>
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=307 valign=top>
  <p>&nbsp;</p>
  </td>
 </tr>
</table>

  </center>
</div>

<p>&nbsp;</p>

</div>&nbsp;<div>

<p>&nbsp;</p>

<div align="center">
  <center>

<table border=0 cellspacing=0 cellpadding=0 width=734 style="border-collapse: collapse" bordercolor="#111111">
 <tr>
  <td width=413 colspan=9 valign=top>
  <p><font face="Arial" size="1">TO VOTE, MARK BLOCKS IN BLUE OR BLACK INK</font></p>
  </td>
  <td width=86 colspan=2 valign=top>
  <p><font face="Arial" size="1">MASTEC</font></p>
  </td>
  <td width=235 colspan=8 valign=bottom>
  <p><font face="Arial" size="1">KEEP THIS PORTION FOR YOUR RECORDS</font></p>
  </td>
 </tr>
 <tr>
  <td width=79 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>.</b></font></p>
  </td>
  <td width=420 colspan=9>
  <p align=center><b><font face="Arial" size="1">THIS
  PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED</font></b></p>
  </td>
  <td width=235 colspan=8 valign=top>
  <p><font face="Arial" size="1">DETACH AND RETURN THIS PORTION ONLY</font></p>
  </td>
 </tr>
 <tr>
  <td width=499 colspan=11 style="border-left-style: solid; border-left-width: 1; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p><font face="Arial" size="2"><b>MasTec, Inc.</b></font></p>
  </td>
  <td width=156 colspan=4 valign=top style="border-left-width: 1; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=60 colspan=3 valign=top style="border-left-width: 1; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=19 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=499 colspan=11 valign=top style="border-left-style: solid; border-left-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=156 colspan=4 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=60 colspan=3 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=19 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=357 colspan=6 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">(1)&nbsp;&nbsp;&nbsp;&nbsp; Election of three (3)
  Class II Directors as described in the Proxy Statement of the Board of
  Directors.&nbsp; The Board of Directors
  recommends a vote <u>FOR ALL</u> nominees listed below.</font></p>
  <p><font face="Arial" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The nominees are:<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Austin J. Shanfelter,
  William N. Shiebler<b>, </b>John Van Heuvelen</font></p>
  <p>&nbsp;</p>
  </td>
  <td width=36 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>For All<br>
&nbsp;</b></font></p>
  <p align="center">
  <font size="2" face="Wingdings">o</font></p>
  <p align=center><b><font face="Arial" size="1">&nbsp;</font></b></p>
  </td>
  <td width=59 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>Withhold
  All<br>
&nbsp;</b></font></p>
  <p align=center><font face="Arial" size="1"><b>&nbsp;</b></font><font size="2" face="Wingdings">o</font></p>
  <p align=center><b><font face="Arial" size="1">&nbsp;</font></b></p>
  </td>
  <td width=48 valign=top>
  <p align=center><font face="Arial" size="1"><b>For All
  Except</b></font></p>
  <p align=center><font face="Arial" size="1"><b>&nbsp;</b></font><font size="2" face="Wingdings">o</font></p>
  <p align=center><b><font face="Arial" size="1">&nbsp;</font></b></p>
  </td>
  <td width=216 colspan=7 valign=top>
  <p><font face="Arial" size="1">To withhold authority to vote, mark &quot;For All
  Except&quot; and write the nominee's name on the line below:</font></p>
  <p><font face="Arial" size="1">____________________________________</font></p>
  </td>
  <td width=19 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=583 colspan=12 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">(2)&nbsp;&nbsp;&nbsp;&nbsp; Approve the adoption of
  the MasTec, Inc. 2003 Employee Stock Incentive Plan, as more fully described in
  the Proxy Statement.&nbsp; The Board of
  Directors recommends a vote <u>FOR</u> the 2003 Employee Stock Incentive
  Plan.</font></p>
  </td>
  <td width=36 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>For<br></b></font>
  <font size="2" face="Wingdings">o</font></p>
  </td>
  <td width=60 colspan=3 valign=top>
  <p align=center><font face="Arial" size="1"><b>Against<br></b></font>
  <font size="2" face="Wingdings">o</font></p>
  </td>
  <td width=55 colspan=2 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p align=center><font face="Arial" size="1"><b>Abstain<br></b></font>
  <font size="2" face="Wingdings">o</font></p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=583 colspan=12 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">(3)&nbsp;&nbsp;&nbsp;&nbsp; Approve the adoption of
  the MasTec, Inc. 2003 Stock Incentive Plan For Non-Employees, as more fully
  described in the Proxy Statement.&nbsp; The
  Board of Directors recommends a vote <u>FOR</u> the 2003 Stock Incentive Plan
  for Non-Employees.</font></p>
  </td>
  <td width=36 colspan=2 valign=top>
  <p align=center><font face="Arial" size="1"><b>For<br></b></font>
  <font size="2" face="Wingdings">o</font></p>
  </td>
  <td width=60 colspan=3 valign=top>
  <p align=center><font face="Arial" size="1"><b>Against<br></b></font>
  <font size="2" face="Wingdings">o</font></p>
  </td>
  <td width=55 colspan=2 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p align=center><font face="Arial" size="1"><b>Abstain<br></b></font>
  <font size="2" face="Wingdings">o</font></p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=617 colspan=13 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">(4)&nbsp;&nbsp;&nbsp;&nbsp; In the Proxies'
  discretion, upon any other business that may properly be presented at the
  Annual Meeting or any adjournments or postponements thereof.&nbsp; </font> </p>
  </td>
  <td width=118 colspan=6 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=355 colspan=5 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">&nbsp;&nbsp;&nbsp; Receipt of the Notice and
  Proxy Statement for the 2003 Annual Meeting of Shareholders and MasTec's
  Annual Report on Form 10-K for the year ended December 31, 2002 is
  acknowledged.</font></p>
  </td>
  <td width=144 colspan=6 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=235 colspan=8 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=355 colspan=5 valign=top style="border-left-style: solid; border-left-width: 1">
  <p><font face="Arial" size="1">&nbsp;&nbsp;&nbsp; (Please sign exactly as your
  name or names appear on this proxy.&nbsp;
  When signing as executor, guardian, trustee, joint owners, agent,
  authorized representative or a corporate owner, or other representative,
  please give your full title as such.)</font></p>
  </td>
  <td width=144 colspan=6 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=235 colspan=8 valign=top style="border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 colspan=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=228 colspan=2 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=98 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=22 colspan=3 valign=top style="border-left-style: solid; border-left-width: 1; border-right-style: solid; border-right-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=216 colspan=5 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=88 colspan=4 valign=top style="border-style: solid; border-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=63 colspan=3 valign=top style="border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=19 valign=top style="border-left-style: solid; border-left-width: 1">
  <p>&nbsp;</p>
  </td>
  <td width=228 colspan=2 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Signature [PLEASE SIGN WITHIN BOX]</font></p>
  </td>
  <td width=98 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Date</font></p>
  </td>
  <td width=22 colspan=3 valign=top>
  <p>&nbsp;</p>
  </td>
  <td width=216 colspan=5 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Signature (Joint Owners)</font></p>
  </td>
  <td width=88 colspan=4 style="border-top-style: solid; border-top-width: 1">
  <p><font face="Arial" size="1">Date</font></p>
  </td>
  <td width=63 colspan=3 valign=top style="border-left-width: 1; border-right-style: solid; border-right-width: 1; border-top-width: 1; border-bottom-width: 1">
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr height=0>
  <td width=19 style="border-left-style: solid; border-left-width: 1; border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=60 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=168 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=98 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=10 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=1></td>
  <td width=11 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=25 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=21 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=38 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=48 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=84 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=34 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=2 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=36 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=16 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=8 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=36 style="border-bottom-style: solid; border-bottom-width: 1"></td>
  <td width=19 style="border-right-style: solid; border-right-width: 1; border-bottom-style: solid; border-bottom-width: 1"></td>
 </tr>
</table>

  </center>
</div>

</div><font face="Arial"><br clear=all>


</font>


<div>

<p>&nbsp;</p>

<p>&nbsp;</p>

<div align="center">
  <center>

<table border=0 cellspacing=0 cellpadding=0 width=734 style="border-collapse: collapse; border-style: solid; border-width: 1; padding-left: 4; padding-right: 4; padding-top: 1; padding-bottom: 1" bordercolor="#111111">
 <tr>
  <td width=734 valign=top>
  <p>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width=734 valign=top>
  <p align=center><font face="Arial" size="2"><b>&nbsp;</b></font></p>
  <p align=center><font face="Arial" size="2"><b>PROXY FOR 2003 ANNUAL MEETING OF SHAREHOLDERS<br>
  SOLICITED BY THE BOARD OF DIRECTORS OF MASTEC, INC.</b></font></p>
  <p align=center><font face="Arial" size="2"><b>&nbsp;</b></font></p>
  </td>
 </tr>
 <tr>
  <td width=734 valign=top>
  <p align="justify"><font face="Arial" size="2">The undersigned hereby
  constitutes and appoints Donald P. Weinstein and Christina Canales (the
  &quot;Proxies&quot;), or any one of them, with full power of substitution,
  attorneys and proxies for the undersigned, to vote all shares of common stock
  of MasTec, Inc. (&quot;MasTec&quot;) that the undersigned would be entitled
  to vote at the 2003 Annual Meeting of Shareholders to be held at MasTec's
  corporate offices, 3155 N.W. 77<sup>th</sup> Avenue, Miami, Florida 33122, at
  9:30 a.m. on Friday, May 30, 2003, or any adjournments or postponements
  thereof, on all matters properly coming before the Annual Meeting, including,
  but not limited to, the matters stated on the reverse side.</font></p>
  <p align="justify"><font face="Arial" size="2">If shares of MasTec common stock
  are issued to or held for the account of the undersigned under the MasTec
  401(k) Retirement Plan (the &quot;401(k) Plan&quot;), then the undersigned
  hereby directs the Trustee of the 401(k) Plan to vote all shares of MasTec
  common stock in the undersigned's name and/or account under the 401(k) Plan
  in accordance with the instructions given herein, at the Annual Meeting and
  at any adjournments or postponements thereof, on all matters properly coming
  before the Annual Meeting, including, but not limited to, the matters stated
  on the reverse side.</font></p>
  <p align="justify"><font face="Arial" size="2"><b>ANY PROPER PROXY RECEIVED BY
  MASTEC AS TO WHICH NO CHOICE HAS BEEN INDICATED WILL BE VOTED BY THE PROXIES
  &quot;FOR ALL&quot; THE NOMINEES IN PROPOSAL 1 AND &quot;FOR&quot; PROPOSALS
  NUMBERED 2 AND 3 SET FORTH ON THE REVERSE SIDE AND IN THE PROXIES' DISCRETION
  ON ANY OTHER MATTER PROPERLY BROUGHT BEFORE THE ANNUAL MEETING.&nbsp; YOUR PROXY CANNOT BE VOTED UNLESS YOU SIGN,
  DATE AND RETURN THIS CARD OR FOLLOW THE INSTRUCTIONS FOR INTERNET OR
  TELEPHONE VOTING SET FORTH ON THE REVERSE SIDE.</b></font></p>
  <p align=center><font face="Arial" size="2">(Continued
  and to be signed on reverse)</font></p>
  <p align=center>&nbsp;</p>
  </td>
 </tr>
</table>

  </center>
</div>

<p>&nbsp;</p>

<p align=center>&nbsp;</p>

<p>&nbsp;</p>

</div>

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