<SUBMISSION>
<ACCESSION-NUMBER>0000950135-04-001796
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>5
<PERIOD>20040525
<FILING-DATE>20040409
<EFFECTIVENESS-DATE>20040409
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AKAMAI TECHNOLOGIES INC
<CIK>0001086222
<ASSIGNED-SIC>7389
<IRS-NUMBER>043432319
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>000-27275
<FILM-NUMBER>04726311
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>500 TECHNOLOGY SQ
<CITY>CAMBRIDGE
<STATE>MA
<ZIP>02139
<PHONE>6172503000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>500 TECHNOLOGY SQ
<CITY>CAMBRIDGE
<STATE>MA
<ZIP>02139
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>b49987atdef14a.htm
<DESCRIPTION>AKAMAI TECHNOLOGIES, INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>Akamai Technologies, Inc.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B>UNITED STATES</B>

<DIV align="center">
<B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center">
<B>WASHINGTON, DC 20549</B>
</DIV>

<P align="center">
<B>SCHEDULE 14A</B>

<P align="center">
<B>(RULE 14a-101)</B>

<DIV align="center">
<B>INFORMATION REQUIRED IN PROXY STATEMENT</B>
</DIV>

<P align="center">
<B><FONT size="4">SCHEDULE 14A INFORMATION</FONT></B>

<P align="center">
<B>Proxy Statement Pursuant to Section 14(a) of the
Securities</B>

<DIV align="center">
<B>Exchange Act of 1934</B>
</DIV>

<DIV>&nbsp;</DIV>

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

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top">
    <TD align="left"><B><FONT size="2">Filed by the Registrant&nbsp; <FONT face="wingdings">&#254;</FONT></FONT></B></TD>
    <TD align="right"><B><FONT size="2">Filed by a Party other than the Registrant&nbsp; <FONT face="wingdings">&#111;</FONT></FONT></B></TD>
</TR>

</TABLE>

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

<P align="left">
<FONT size="2">Check the appropriate box:
</FONT>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Preliminary
Proxy Statement
</FONT>
</DIV>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Confidential,
For Use of the Commission Only (as permitted by
Rule&nbsp;14a-6(e)(2))
</FONT>
</DIV>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#254;</FONT>&nbsp;Definitive
Proxy Statement
</FONT>
</DIV>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Definitive
Additional Materials
</FONT>
</DIV>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Soliciting
Material Pursuant to Section&nbsp;240.14a-12
</FONT>
</DIV>

<P align="center">
<B><FONT size="4">Akamai Technologies, Inc.</FONT></B>

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

<P align="center">


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

<P align="left">
<B><FONT size="2">Payment of Filing Fee (Check the appropriate
box):</FONT></B>

<DIV align="left">
<B><FONT size="2"><FONT face="wingdings">&#254;</FONT></FONT></B><FONT size="2">&nbsp;No
fee required.
</FONT>
</DIV>

<DIV align="left">
<FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;Fee
computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1)
and 0-11.
</FONT>
</DIV>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1)&nbsp;Title
of each class of securities to which transaction applies:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2)&nbsp;Aggregate
number of securities to which transaction applies:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3)&nbsp;Per
unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on
which the filing fee is calculated and state how it was
determined):
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4)&nbsp;Proposed
maximum aggregate value of transaction:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5)&nbsp;Total
fee paid:
</FONT>
<P>

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

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

<TR valign="top">
    <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Fee paid previously with preliminary materials:
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2"><FONT face="wingdings">&#111;</FONT>&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Check box if any part of the fee is offset as
    provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify the
    filing for which the offsetting fee was paid previously.
    Identify the previous filing by registration statement number,
    or the form or schedule and the date of its filing.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1)&nbsp;Amount
previously paid:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2)&nbsp;Form,
Schedule or Registration Statement No.:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3)&nbsp;Filing
Party:
</FONT>

<P align="left">
<FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4)&nbsp;Date
Filed:
</FONT>

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<P><HR noshade><P>

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

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">NOTICE OF 2004 ANNUAL MEETING OF STOCKHOLDERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PROXY STATEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PROPOSAL ONE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">APPROVAL OF AMENDMENT OF AKAMAI&#146;S STOCK INCENTIVE PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">RATIFICATION OF SELECTION OF INDEPENDENT AUDITORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">OTHER MATTERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">APPENDIX A</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="center">
<IMG src="b49987atb4998702.gif" alt="(AKAMAI LOGO)">
</DIV>

<P align="left">
<FONT size="2">April&nbsp;12, 2004
</FONT>

<P align="left">
<FONT size="2">To our Stockholders:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">I am pleased to invite you to attend the 2004
Annual Meeting of Stockholders of Akamai Technologies, Inc. to
be held on Tuesday, May&nbsp;25, 2004 at 10:00&nbsp;a.m. at the
Marriott Hotel Cambridge, Two Cambridge Center, Cambridge,
Massachusetts.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">At the Annual Meeting, we expect to consider and
act upon the following matters:
</FONT>
<P>

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

<TR>
    <TD width="6%"></TD>
    <TD width="4%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">To elect three members of our Board of Directors
    to serve as Class&nbsp;II directors for the ensuing three years;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">To approve an amendment increasing the number of
    shares of common stock authorized for issuance under
    Akamai&#146;s Second Amended and Restated 1998 Stock Incentive
    Plan from 41,255,600 shares to 48,255,600 shares;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">To ratify the selection of PricewaterhouseCoopers
    LLP as the independent auditors of Akamai for the fiscal year
    ending December 31, 2004; and
    </FONT></TD>
</TR>

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

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

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Details regarding admission to the meeting and
the business to be conducted at the meeting are more fully
described in the accompanying Notice of Annual Meeting and Proxy
Statement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Your vote is important. Whether or not you plan
to attend the Annual Meeting, I hope you will vote as soon as
possible. Voting by written proxy will ensure your
representation at the Annual Meeting if you do not attend in
person. Please review the instructions on the proxy card
regarding each of these voting options.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Thank you for your ongoing support of and
continued interest in Akamai.
</FONT>
<P>

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Sincerely,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="b49987atb4998701.gif" alt="-s- George H. Conrades"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">GEORGE H. CONRADES
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I><FONT size="2">Chairman and Chief Executive Officer</FONT></I></TD>
</TR>

</TABLE>

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

<P align="center">
<B><FONT size="4">AKAMAI TECHNOLOGIES, INC.</FONT></B>

<DIV align="center">
<B><FONT size="2">8 Cambridge Center</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Cambridge, Massachusetts 02142</FONT></B>
</DIV>

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

<DIV>&nbsp;</DIV>

<!-- link1 "NOTICE OF 2004 ANNUAL MEETING OF STOCKHOLDERS" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center">
<B>NOTICE OF 2004 ANNUAL MEETING OF STOCKHOLDERS</B>
</DIV>

<DIV align="center">
<B><I>To Be Held On May 25, 2004</I></B>
</DIV>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The 2004 Annual Meeting of Stockholders of Akamai
Technologies, Inc. will be held on Tuesday, May&nbsp;25, 2004,
at 10:00&nbsp;a.m., local time, at the Marriott Hotel Cambridge,
Two Cambridge Center, Cambridge, Massachusetts, 02142, to
consider and act upon the following matters:
</FONT>
<P>

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

<TR>
    <TD width="6%"></TD>
    <TD width="4%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">To elect three members of the Board of Directors
    of Akamai to serve as Class&nbsp;II directors for the ensuing
    three years;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">To approve an amendment increasing the number of
    shares of common stock authorized for issuance under
    Akamai&#146;s Second Amended and Restated 1998 Stock Incentive
    Plan from 41,255,600 shares to 48,255,600 shares;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">To ratify the selection of PricewaterhouseCoopers
    LLP as the independent auditors of Akamai for the fiscal year
    ending December 31, 2004; and
    </FONT></TD>
</TR>

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

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

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Stockholders of record at the close of business
on March&nbsp;31, 2004 are entitled to notice of, and to vote
at, the meeting and any adjournment thereof. The stock transfer
books of Akamai will remain open for the purchase and sale of
Akamai&#146;s common stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All stockholders are cordially invited to attend
the meeting.
</FONT>
<P>

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

<TR>
    <TD width="36%"></TD>
    <TD width="64%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">By order of the Board of Directors,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="b49987atb4998709.gif" alt="-s- Melanie Haratunian"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">MELANIE HARATUNIAN
    </FONT></TD>
</TR>

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

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

</TABLE>

<P align="left">
<FONT size="2">Cambridge, Massachusetts
</FONT>

<DIV align="left">
<FONT size="2">April&nbsp;12, 2004
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">WHETHER OR NOT YOU PLAN TO ATTEND THE ANNUAL
MEETING, PLEASE COMPLETE, DATE AND SIGN THE ENCLOSED PROXY CARD
AND PROMPTLY MAIL IT IN THE ENCLOSED ENVELOPE IN ORDER TO ASSURE
REPRESENTATION OF YOUR SHARES AT THE ANNUAL MEETING. NO POSTAGE
NEED BE AFFIXED IF THE PROXY CARD IS MAILED IN THE UNITED
STATES. SENDING IN YOUR PROXY WILL NOT PREVENT YOU FROM VOTING
YOUR STOCK AT THE ANNUAL MEETING IF YOU DESIRE TO DO SO, AS YOUR
PROXY IS REVOCABLE AT YOUR OPTION.</FONT></B>

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

<P align="center">
<B><FONT size="4">AKAMAI TECHNOLOGIES, INC.</FONT></B>

<DIV align="center">
<B><FONT size="2">8 Cambridge Center</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Cambridge, Massachusetts 02142</FONT></B>
</DIV>

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

<DIV>&nbsp;</DIV>

<!-- link1 "PROXY STATEMENT" -->
<DIV align="left"><A NAME="001"></A></DIV>

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

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">THIS PROXY STATEMENT IS FURNISHED IN
CONNECTION WITH THE SOLICITATION OF PROXIES BY THE BOARD OF
DIRECTORS OF AKAMAI TECHNOLOGIES, INC. FOR USE AT THE 2004
ANNUAL MEETING OF STOCKHOLDERS TO BE HELD AT 10:00&nbsp;A.M. ON
MAY 25, 2004 AND AT ANY ADJOURNMENT OR ADJOURNMENTS OF THAT
MEETING.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All proxies will be voted in accordance with the
instructions contained therein, and if no choice is specified,
the proxies will be voted in favor of the matters set forth in
the accompanying Notice of Annual Meeting. Any proxy may be
revoked by a stockholder at any time before it is exercised by
delivery of written revocation to our Secretary or by voting in
person at the Annual Meeting. Attendance at the Annual Meeting
will not itself be deemed to revoke a proxy unless the
stockholder gives affirmative notice at the Annual Meeting that
the stockholder intends to revoke the proxy and vote in person.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Our Annual Report for the fiscal year ended
December&nbsp;31, 2003 is being mailed to our stockholders with
the mailing of the Notice of Annual Meeting and this Proxy
Statement on or about April&nbsp;12, 2004.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">A copy of our Annual Report on Form&nbsp;10-K
for the fiscal year ended December&nbsp;31, 2003, as filed with
the Securities and Exchange Commission, except for exhibits
thereto, will be furnished without charge to any stockholder
upon written request to Akamai Technologies, Inc., 8 Cambridge
Center, Cambridge, Massachusetts 02142, Attn: Director of
Investor Relations. Exhibits will be provided upon written
request and payment of an appropriate processing fee.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Certain documents referenced in this Proxy
Statement are available on our website at <U>www.akamai.com</U>.
We are not including the information contained on our website,
or any information that may be accessed by links on our website,
as part of, or incorporating it by reference into, this Proxy
Statement.
</FONT>

<P align="left">
<B><FONT size="2">Voting Securities and Votes Required</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On March&nbsp;31, 2004, the record date for the
determination of, stockholders entitled to notice of, and to
vote at, the Annual Meeting, there were issued, outstanding and
entitled to vote an aggregate of 122,800,394&nbsp;shares of our
common stock, $.01 par value per share. Each share of common
stock is entitled to one vote.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under our by-laws, the holders of a majority of
the shares of our common stock issued, outstanding and entitled
to vote on any matter shall constitute a quorum with respect to
that matter at the Annual Meeting. Shares of our common stock
present in person or represented by executed proxies received by
us (including &#147;broker non-votes&#148; and shares which
abstain or do not vote with respect to one or more of the
matters presented for stockholder approval) will be counted for
purposes of determining whether a quorum is present. If the
shares you own are held in &#147;street name,&#148; the bank or
brokerage firm, as the record holder of your shares, is required
to vote your shares in accordance with your instructions. In
order to vote your shares held in &#147;street name,&#148; you
will need to follow the directions your bank or brokerage firm
provides you.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The affirmative vote of the holders of a
plurality of the shares of our common stock voting on the matter
is required for the election of directors. The affirmative vote
of the holders of a majority of the shares of our common stock
present or represented by proxy at the Annual Meeting and voting
on the matter is required for (i)&nbsp;approval of the amendment
to the Second Amended and Restated 1998 Stock Incentive Plan,
which we refer to in this Proxy Statement as the Stock Incentive
Plan and (ii)&nbsp;for the ratification of the appointment of
PricewaterhouseCoopers LLP as our independent auditors for the
fiscal year ending December&nbsp;31, 2004.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Shares that abstain from voting as to a
particular matter and &#147;broker non-votes,&#148; which are
shares held in &#147;street name&#148; by brokers or nominees
who indicate on their proxies that they do not have discretionary
</FONT>

<P align="center">

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<DIV align="left">
<FONT size="2">authority to vote such shares as to a particular
matter, will not be counted as votes in favor of such matter and
will also not be counted as votes cast or shares voting on such
matter. Accordingly, abstentions and broker non-votes will have
no effect on the voting of each matter that requires the
affirmative vote of a certain percentage of the votes cast or
shares voting on a matter.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Security Ownership of Certain Beneficial
Owners and Management</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table includes information as to
the number of shares of our common stock beneficially owned as
of February&nbsp;29, 2004 by the following:
</FONT>
<P>

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">each stockholder known by us to beneficially own
    more than 5% of the outstanding shares of our common stock;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">each of our directors;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">our chief executive officer and our three other
    most highly compensated executive officers in 2003 who received
    compensation in excess of $100,000 in 2003, referred to as our
    Akamai Named Executive Officers, as well as our other executive
    officers; and
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">all of our executive officers and directors as a
    group.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Beneficial ownership is determined in accordance
with the rules of the Securities and Exchange Commission, which
we sometimes refer to as the Commission, and includes voting and
investment power with respect to shares. Unless otherwise
indicated below, to our knowledge, all persons named in the
table have sole voting and investment power with respect to
shares of common stock identified below, except to the extent
authority is shared by spouses under applicable law. Beneficial
ownership includes any shares that the person has the right to
acquire within 60&nbsp;days of February&nbsp;29, 2004 through
the exercise of any stock option or any warrant. Unless
otherwise indicated in the notes to the table, the address of
each director, executive officer and stockholder owning more
than 5% of the outstanding shares of common stock is c/o Akamai
Technologies, Inc., 8 Cambridge Center, Cambridge, Massachusetts
02142.
</FONT>

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

<TR>
    <TD width="61%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Number of Shares</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Common Stock</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name of Beneficial Owner</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Beneficially Owned</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Outstanding (%)</FONT></B></TD>
</TR>

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

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Massachusetts Financial Services Company(1)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">10,693,510</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">8.7</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">F. Thomson Leighton
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">7,479,575</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">6.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">George H. Conrades(2)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">6,196,465</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5.1</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Martin M. Coyne II(3)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">39,875</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">C. Kim Goodwin
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Ronald Graham(4)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">63,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">William A. Halter(5)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">41,250</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Peter J. Kight
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Frederic V. Salerno(6)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">100,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Naomi O. Seligman(7)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">23,625</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Robert Cobuzzi(8)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">71,147</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Melanie Haratunian
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Michael A. Ruffolo(9)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">513,510</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Paul Sagan (10)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,504,028</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris Schoettle (11)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">281,136</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">All executive officers and directors as a group
    (14 persons) (12)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">16,313,611</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">13.2</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">*</FONT></TD>
    <TD align="left">
    <FONT size="2">Percentage is less than 1% of the total number of
    outstanding shares of our common stock.
    </FONT></TD>
</TR>

</TABLE>
<P>

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

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

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The information reported is based on a
    Schedule&nbsp;13G/ A dated February&nbsp;11, 2004, filed with
    the Commission by Massachusetts Financial Services Company, or
    MFS. MFS reports its address as 500 Boylston Street, Boston,
    Massachusetts 02116.
    </FONT></TD>
</TR>

</TABLE>

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

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

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

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

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 8,694 shares issuable upon the exercise
    of warrants exercisable within 60&nbsp;days of February&nbsp;29,
    2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of shares issuable upon the exercise of
    stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of shares issuable upon the exercise of
    stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(5)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of shares issuable upon the exercise of
    stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(6)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 25,000 shares issuable upon the exercise
    of stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(7)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of shares issuable upon the exercise of
    stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(8)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 62,500 shares of our common stock
    issuable upon the exercise of stock options exercisable within
    60&nbsp;days of February&nbsp;29, 2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(9)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 289,981 shares issuable upon the
    exercise of stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004. Mr.&nbsp;Ruffolo departed as our Chief
    Operating Officer in April 2004.
    </FONT></TD>
</TR>

</TABLE>
<P>

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

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

<TR valign="top">
    <TD><FONT size="2">(10)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 234,375 shares upon the exercise of
    stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004 and 6 shares held by
    Mr.&nbsp;Sagan&#146;s minor children.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(11)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 175,000 shares issuable upon the
    exercise of stock options exercisable within 60&nbsp;days of
    February&nbsp;29, 2004.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(12)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 966,425 shares issuable upon the
    exercise of stock options and warrants exercisable within
    60&nbsp;days after February&nbsp;29, 2004.
    </FONT></TD>
</TR>

</TABLE>

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

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

<!-- link1 "PROPOSAL ONE" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center">
<B><FONT size="2">PROPOSAL ONE</FONT></B>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Board of Directors currently consists of nine
persons, divided into three classes, serving staggered terms of
three years, as follows: three Class I directors (with terms
expiring at the 2006 annual meeting of our stockholders), three
Class&nbsp;II directors (with terms expiring at the 2004 annual
meeting of our stockholders) and three Class&nbsp;III directors
(with terms expiring at the 2005 annual meeting of our
stockholders).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In May 2003, Martin Coyne was named our Lead
Director of our Board of Directors. In this role, he presides
over meetings of the independent members of our Board of
Directors, leads numerous initiatives relating to corporate
governance and Board effectiveness and ensures cross
communication across Board committees to ensure that all
committees have the necessary information to make decisions that
are in the best interests of the shareholders. Since the
establishment of the Lead Director role, the independent
directors have met following each Board meeting and at other
times as required. Mr.&nbsp;Coyne, in conjunction with the other
independent directors, establishes the most important issues
that the Board of Directors will focus on to drive short-term
and longer-term businesses performance. Mr.&nbsp;Coyne works
with the Chief Executive Officer to prepare Board meeting
agendas and ensure that the necessary preparatory materials are
provided to Board members prior to meetings. Following each
Board meeting, Mr.&nbsp;Coyne solicits feedback from, and shares
his views with, the other independent directors and provides
feedback to the Chief Executive Officer and other members of
management on their performance and other important issues that
the Board of Directors believes management should focus on.
Mr.&nbsp;Coyne also leads discussions on Chief Executive Officer
performance, succession planning for Mr.&nbsp;Conrades and other
key management positions.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In January 2004, C. Kim Goodwin was elected to
the Board of Directors by its members in order to fill a vacancy
created upon the adoption of a resolution increasing the size of
the Board of Directors. Ms.&nbsp;Goodwin serves as a
Class&nbsp;I Director. In March 2004, Ms.&nbsp;Goodwin was
appointed to the Audit Committee to replace William A. Halter
and to the Nominating and Corporate Governance Committee. In
March 2004, Mr.&nbsp;Halter was appointed to the Compensation
Committee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In March 2004, Peter J. Kight was elected to the
Board of Directors by its members in order to fill a vacancy
created by upon the adoption of a resolution increasing the size
of the Board of Directors. Mr.&nbsp;Kight serves as a
Class&nbsp;III director. Mr.&nbsp;Kight has not yet been
appointed to any committee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Three Class&nbsp;II directors are to be elected
at the Annual Meeting. Each of the Class&nbsp;II directors
elected at the Annual Meeting will hold office until the 2007
annual meeting of our stockholders or until his or her successor
has been duly elected and qualified. Based on the recommendation
of the Nominating and Corporate Governance Committee, the Board
of Directors has nominated Ronald L. Graham, F. Thomson Leighton
and Naomi O. Seligman to serve as Class&nbsp;II directors for a
term expiring at the 2007 annual meeting of our stockholders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In the event that any nominee for Class&nbsp;II
director becomes unavailable or declines to serve as a director
at the time of the Annual Meeting, the proxy holders will vote
the proxies in their discretion for any nominee who is
designated by the current Board of Directors to fill the
vacancy. It is not expected that any of the nominees will be
unavailable to serve.
</FONT>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Our Board of Directors believes that approval
of the election of Ronald L. Graham, F. Thomson Leighton and
Naomi O. Seligman to serve as Class&nbsp;II directors is in the
best interests of Akamai and our stockholders and, therefore,
recommends that the stockholders vote FOR this
proposal.</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Set forth below are the names and ages of each
member of the Board of Directors (including the nominees for
election as Class&nbsp;II directors), and the positions and
offices held by him or her, his or her principal occupation and
business experience during the past five years, the names of
other publicly held companies of which he or she serves as a
director and the year of the commencement of his or her term as
a director of Akamai. Information with respect to the number of
shares of our common stock beneficially owned
</FONT>

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

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<DIV align="left">
<FONT size="2">by each director, directly or indirectly, as of
February&nbsp;29, 2004, appears above under the heading
&#147;Security Ownership of Certain Beneficial Owners and
Management.&#148;
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Nominees for Terms Expiring in 2007
(Class&nbsp;II Directors)</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Ronald Graham, </FONT></B><FONT size="2">age
68, has served as a director of Akamai since August 2001.
Mr.&nbsp;Graham, a professor at the University of California at
San Diego since January 1999, holds the Irwin and Joan Jacobs
Endowed Chair of Computer and Information Science, a non-profit
society of scholars engaged in scientific and engineering
research. Mr.&nbsp;Graham is also the Chief Scientist of the
California Institute for Telecommunications and Information
Technology, an institute created by the State of California to
fund research related to next-generation of Internet
technologies. In addition, since July 1996, Mr. Graham has
served as the Treasurer of the National Academy of Sciences.
From 1962 until December 1999, Mr.&nbsp;Graham served in a
variety of positions at AT&#38;T Corp., a global
telecommunications corporation, most recently as Chief Scientist.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">F. Thomson Leighton,</FONT></B><FONT size="2">
age 47, co-founded Akamai and has served as our Chief Scientist
and as a director since August 1998. Dr.&nbsp;Leighton has been
a professor of Mathematics at MIT since 1982 and has served as
the Head of the Algorithms Group in MIT&#146;s Laboratory for
Computer Science since its inception in 1996. Dr.&nbsp;Leighton
is currently on leave from MIT. Dr.&nbsp;Leighton is a former
two-term chair of the 2,000-member Association of Computing
Machinery Special Interest Group on Algorithms and Complexity
Theory, and a former two-term Editor-in-Chief of the Journal of
the Association for Computing Machinery, one of the
nation&#146;s premier journals for computer science research.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Naomi O. Seligman,
</FONT></B><FONT size="2">age 65, has served as a director of
Akamai since November 2001. Ms.&nbsp;Seligman has been a senior
partner at Ostriker von Simson, a consulting firm focusing on
information technology, since June 1999. The partners of
Ostriker von Simson chair the CIO Strategy Exchange, which
regularly brings together four vital quadrants of the IT sector:
invited chief information officers, or CIOs, from the largest
multinational enterprises, premier venture capitalists, CEOs
from prominent computer companies and entrepreneurs leading
innovative emerging technology firms. Previously,
Ms.&nbsp;Seligman served as a co-founder and senior partner of
the Research Board, Inc., a private sector institution sponsored
by one hundred CIOs from major corporations. Ms.&nbsp;Seligman
also serves on the board of directors of The Dun &#38;
Bradstreet Corporation, a provider of business information
services, and Sun Microsystems, a provider of network hardware,
software and services.
</FONT>

<P align="left">
<B><FONT size="2">Directors Whose Terms Expire in 2006
(Class&nbsp;I Directors)</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">George H. Conrades,</FONT></B><FONT size="2">
age 65, has served as our Chairman and Chief Executive Officer
since April 1999 and as a director since December 1998.
Mr.&nbsp;Conrades has also been a venture partner of Polaris
Venture Partners, Inc., an early stage investment company, since
August 1998. From August 1997 to July 1998, Mr. Conrades served
as Executive Vice President of GTE and President of GTE
Internetworking, an integrated telecommunication services firm.
Mr.&nbsp;Conrades served as Chief Executive Officer of BBN
Corporation, a national Internet services provider and Internet
technology research and development company, from January 1994
until its acquisition by GTE Internetworking in July 1997. Prior
to joining BBN Corporation, Mr.&nbsp;Conrades was a Senior Vice
President at International Business Machines Corporation, or
IBM, and a member of IBM&#146;s Corporate Management Board.
Mr.&nbsp;Conrades is currently a director of Cardinal Health,
Inc., a provider of services supporting the healthcare industry,
and Harley-Davidson, Inc., a motorcycle manufacturer.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Martin M. Coyne II,
</FONT></B><FONT size="2">age 55, has served as a director of
Akamai since November 2001. Mr.&nbsp;Coyne was named our Lead
Director in 2003. Between 1995 and his retirement in July 2003,
Mr.&nbsp;Coyne served in a variety of senior management
positions at the Eastman Kodak Company, which develops,
manufactures and markets imaging products and services.
Mr.&nbsp;Coyne most recently served as Group Executive,
Photography Group, and Executive Vice President of Eastman
Kodak. Mr.&nbsp;Coyne also serves on the board of directors of
Welch Allyn, Inc., a manufacturer of innovative medical
diagnostic equipment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">C. Kim Goodwin,</FONT></B><FONT size="2"> age
43, has served as a director of Akamai since January 2004. Since
September 2002, Ms.&nbsp;Goodwin has been Chief Investment
Officer &#150; Equities of State Street Research, a money
management
</FONT>

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

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<DIV align="left">
<FONT size="2">firm. From September 1997 through August 2002,
Ms.&nbsp;Goodwin was Chief Investment Officer &#150; U.S. Growth
Equities at American Century Investment Management, an
investment management company.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Directors Whose Terms Expire in 2005
(Class&nbsp;III Directors)</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">William A. Halter,
</FONT></B><FONT size="2">age 43, has served as a director of
Akamai since August 2001. Since April 2001, Mr.&nbsp;Halter has
been a management consultant providing services to corporate
enterprises. Between November 1999 and March 2001, Mr. Halter
served as Deputy Commissioner, and later as Acting Commissioner,
of the United States Social Security Administration, an
independent agency of the federal government. From 1993 through
November 1999, Mr.&nbsp;Halter was a Senior Advisor in the
Office of Management and Budget of the Executive Office of the
President of the United States. Mr.&nbsp;Halter is currently a
director of InterMune, Inc., a biopharmaceutical company, and
webMethods, Inc., an Internet services infrastructure company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Peter J. Kight, </FONT></B><FONT size="2">age
47, has served as a director of Akamai since March 2004. Since
December 1997, Mr.&nbsp;Kight has been Chairman of the Board of
Directors and Chief Executive Officer of CheckFree Corporation,
a provider of financial electronic commerce services and
products. Mr.&nbsp;Kight also serves on the Board of Directors
of Metatec International, Inc., a distributor of information
utilizing CD-ROM technology.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Frederic V. Salerno,
</FONT></B><FONT size="2">age 60, has served as a director of
Akamai since April 2002. From 1997 until his retirement in
September 2002, Mr.&nbsp;Salerno served in a variety of senior
management positions at Verizon Communications, Inc., a provider
of communications services, and its predecessors. At the time of
his retirement, Mr.&nbsp;Salerno had been serving as Vice
Chairman and Chief Financial Officer. Mr.&nbsp;Salerno also
serves on the board of directors of Bear Stearns &#38; Co.,
Inc., a financial services company, Consolidated Edison, Inc.,
an energy company, Gabelli Asset Management Inc., a money
management firm, Popular, Inc., a financial holding company, and
Viacom, Inc., a media company.
</FONT>

<P align="left">
<B><FONT size="2">Non-Director Executive Officers of
Akamai</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Robert Cobuzzi, </FONT></B><FONT size="2">age
62, joined Akamai in November 2002 as our Chief Financial
Officer. Prior to joining Akamai, from July 2000 until June
2002, Mr.&nbsp;Cobuzzi was Executive Vice President and Chief
Financial Officer of Network Plus Corp., a competitive local and
long distance telecommunications carrier. Network Plus
Corporation filed a voluntary petition for bankruptcy protection
under Chapter&nbsp;11 of the United States bankruptcy code in
January 2002. Between 1991 and 2000, Mr.&nbsp;Cobuzzi held a
number of management positions at Kollmorgen Corporation, a
manufacturer of electronic equipment and software controls,
serving as Senior Vice President and Chief Financial Officer
from February 1999 until July 2000.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Melanie Haratunian,</FONT></B><FONT size="2">
age 44, joined Akamai in September 2003 as our Vice President
and General Counsel. From April 2003 until September 2003, Ms.
Haratunian was Vice President and Deputy General Counsel of
Allegiance Telecom Company Worldwide, the operating company of
Allegiance Telecom, Inc., a competitive local, long distance,
and data telecommunications carrier. Allegiance Telecom, Inc.
and its subsidiaries filed a voluntary petition for bankruptcy
protection under Chapter&nbsp;11 of the United States bankruptcy
code in May 2003. Between April 2001 and September 2003,
Ms.&nbsp;Haratunian also was the General Counsel for Allegiance
Internet, Inc., formerly known as Hosting.com, Inc., the
Internet access and web-hosting division of Allegiance Telecom,
Inc. Ms.&nbsp;Haratunian was the General Counsel of HarvardNet,
Inc., an Internet access and web-hosting company, from November
1998 until April 2001 when Allegiance Telecom Company Worldwide
acquired HarvardNet, Inc.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Paul Sagan,</FONT></B><FONT size="2"> age 44,
joined Akamai in October 1998 as Vice President and Chief
Operating Officer. Mr.&nbsp;Sagan has served as our President
since May 1999 and served as Chief Operating Officer until March
2001. From July 1997 to August 1998, Mr.&nbsp;Sagan was Senior
Advisor to the World Economic Forum, a Geneva, Switzerland-based
organization that provides a collaborative framework for leaders
to address global issues. From December 1995 to December 1996,
Mr. Sagan was the President and Editor of Time Inc. NewMedia, an
affiliate of Time Warner, Inc., a global media and entertainment
company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Chris Schoettle,</FONT></B><FONT size="2"> age
40, joined Akamai in March 2001 as Executive Vice President and
Chief Operating Officer. Since March 2002, he has served as
Executive Vice President, Technology, Networks and Support,
</FONT>

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

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<DIV align="left">
<FONT size="2">responsible for software development,
architecture, security, network infrastructure, service
operations and global customer support. From August 1998 to
March 2001, Mr. Schoettle held several management positions at
Lucent Technologies, a communications infrastructure company,
serving most recently as President of Broadband Access from May
2000 to March 2001.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">No person who served as a director or executive
officer of Akamai during the year ended December&nbsp;31, 2003
has a substantial interest, direct or indirect, in any matter to
be acted upon at the Annual Meeting other than the election of
Class&nbsp;I directors. Each executive officer serves at the
discretion of our Board of Directors and holds office until his
or her successor is elected and qualified or until his or her
earlier resignation or removal. There are no family
relationships among any of our directors or executive officers.
</FONT>

<P align="left">
<B><FONT size="2">Determination of Independence</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under NASDAQ rules that become applicable to
Akamai on the date of our Annual Meeting, a director of Akamai
will only qualify as an &#147;independent director&#148; if, in
the opinion of the Board of Directors, that person does not have
a relationship which would interfere with the exercise of
independent judgment in carrying out the responsibilities of a
director. The Board of Directors has determined that none of our
directors, other than Mr.&nbsp;Conrades and Mr.&nbsp;Leighton,
has a relationship which would interfere with the exercise of
independent judgment in carrying out the responsibilities of a
director and that each of these directors is an
&#147;independent director&#148; as defined under Rule
4200(a)(15) of the NASDAQ Stock Market, Inc. Marketplace Rules.
</FONT>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors held 12 meetings during
the fiscal year ended December&nbsp;31, 2003 and took two
actions by unanimous written consent. Each incumbent director
attended at least 75% of the total number of meetings of the
Board of Directors and each committee on which he or she served
during the fiscal year ended December&nbsp;31, 2003.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has an Audit Committee, a
Compensation Committee and a Nominating and Corporate Governance
Committee. Each committee operates under a charter that has been
approved by the Board of Directors. Copies of the charters are
posted in the Investors Relations section of our website at .
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has determined that all of
the members of each of the Board&#146;s three standing
committees are independent as defined under the new rules of the
NASDAQ Stock Market that become applicable to us on the date of
the Annual Meeting, including, in the case of all members of the
Audit Committee, the independence requirements contemplated by
Rule&nbsp;10A-3 under the Securities Exchange Act of 1934, as
amended, or the Exchange Act. In addition, all of the members of
the Audit Committee are independent as defined by the rules of
the NASDAQ Stock Market that apply to Akamai until the date of
the Annual Meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee currently consists of three
directors, Mr.&nbsp;Coyne, Ms. Goodwin and Mr.&nbsp;Salerno.
Mr.&nbsp;Salerno serves as Chair of the Audit Committee.
Mr.&nbsp;Halter was a member of the Audit Committee throughout
2003 until March 2004. Ms.&nbsp;Goodwin joined the Audit
Committee in March 2004. The Audit Committee reviews the
professional services provided by our independent accountants,
the independence of such accountants from our management, our
annual financial statements and our system of internal
accounting controls. The Audit Committee also reviews such other
matters with respect to our accounting, auditing and financial
reporting practices and procedures as it may find appropriate or
may be brought to its attention. The Audit Committee held 16
meetings in fiscal year 2003. The Board of Directors has
determined that Mr. Salerno is an &#147;audit committee
financial expert&#148; within the meaning of Item 401(h) under
Regulation&nbsp;S-K issued by the Commission under the Exchange
Act. The charter for the Audit Committee is attached to this
proxy statement as Appendix&nbsp;A.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee currently consists of
Mr.&nbsp;Graham, Mr.&nbsp;Halter and Ms.&nbsp;Seligman.
Ms.&nbsp;Seligman serves as Chair of the Compensation Committee.
Mr.&nbsp;Halter joined the Compensation Committee in March 2004.
The Compensation Committee determines the compensation of our
Chief
</FONT>

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

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<DIV align="left">
<FONT size="2">Executive Officer, administers our bonus,
incentive compensation and stock plans, approves stock option
grants and approves the salaries and other benefits of our
executive officers. In addition, the Compensation Committee
consults with our management regarding our benefit plans and
compensation policies and practices. The Compensation Committee
held three meetings during fiscal year 2003 and took 12 actions
by unanimous written consent during that year.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Nominating and Corporate Governance Committee
currently consists of Ms.&nbsp;Goodwin, Mr.&nbsp;Halter and
Mr.&nbsp;Salerno. Mr.&nbsp;Halter serves as Chair of the
Nominating and Corporate Governance Committee. Ms.&nbsp;Goodwin
joined the Nominating and Corporate Governance Committee in
March 2004. This committee&#146;s responsibilities include
identifying individuals qualified to become members of our Board
of Directors; recommending to the full Board of Directors the
persons to be nominated for election as directors and to each of
its committees; and reviewing and making recommendations to the
Board of Directors with respect to management succession
planning. The Nominating and Corporate Governance was
constituted in March 2003 and held four meetings in 2003.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All directors are expected to attend regular
Board meetings, Board committee meetings and our annual meeting
of stockholders. All directors except Mr.&nbsp;Graham attended
the 2003 annual meeting of stockholders.
</FONT>

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

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our employees who serve on the Board of Directors
are not compensated for their service as directors. Non-employee
directors are entitled to annual compensation of $120,000, of
which $20,000 is paid in cash and $100,000 is paid in deferred
stock units, or DSUs, representing the right to acquire shares
of our common stock. The number of DSUs issued is based on the
fair market value of our common stock on the date of our annual
stockholders meeting. For so long as the person remains a
director, one-half the DSUs will vest on the anniversary of the
date of grant, with the remainder to vest in equal quarterly
installments thereafter. In addition, our Lead Director and the
Chair of our Audit Committee are entitled to $25,000 of
additional compensation, of which $15,000 is paid in cash and
$10,000 is paid in DSUs. Chairs of the two other board
committees are entitled to $10,000 of compensation, of which
$5,000 is paid in cash and $5,000 is paid in DSUs. Each
non-employee director is eligible to receive fair market value
options to purchase 50,000 shares of our common stock when he or
she joins the Board of Directors. In 2003, all then-serving
non-employee directors were issued DSUs representing the right
to acquire 30,000 shares of our common stock which vest over a
three-year period for so long as the person continues to serve
as a director. We also reimburse directors for reasonable
out-of-pocket expenses incurred in attending meetings of the
Board of Directors.
</FONT>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Summary Compensation Table.
</FONT></I><FONT size="2">The following table sets forth
information with respect to the compensation earned by the
Akamai Named Executive Officers for the fiscal years ended
December&nbsp;31, 2003, 2002 and 2001. Mr.&nbsp;Ruffolo departed
as our Chief Operating Officer in April 2004. Columns required
by the regulations of the Commission have been omitted where no
information was required to be disclosed under those columns.
</FONT>

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

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Long-Term</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

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

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

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

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="3"></TD>
</TR>

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

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

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Stock</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Underlying</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Compensation (2)</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Salary</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Awards</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Options/</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Name and Principal Position (1)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Year</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Bonus ($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">SARs(#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">$</FONT></B></TD>
</TR>

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

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">George Conrades
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chairman and Chief
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">750,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Executive Officer(3)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">132,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Robert Cobuzzi
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">200,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chief Financial Officer
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">23,076</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Michael Ruffolo
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">400,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">270,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">575,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(4)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chief Operating Officer
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">400,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">72,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(5)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">(4)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD colspan="2"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">146,153</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">50,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(7)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">803,419</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(3)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris Schoettle
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">300,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">170,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">400,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(8)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Executive Vice President,
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">300,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">109,200</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(5)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">(8)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(6)</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Technology, Networks and
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">230,769</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">80,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(7)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">750,000</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(8)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">140,319</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(9)</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Support
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

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

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

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Mr.&nbsp;Conrades commenced employment with
    Akamai in April 1999; Mr.&nbsp;Cobuzzi commenced employment with
    Akamai in November 2002; Mr.&nbsp;Ruffolo commenced employment
    with Akamai in August 2001; and Mr.&nbsp;Schoettle commenced
    employment with Akamai in March 2001.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">With the exception of Mr.&nbsp;Schoettle, other
    compensation in the form of perquisites and other personal
    benefits has been omitted because these perquisites and other
    personal benefits constituted less than the lesser of $50,000 or
    10% of the total salary and bonus for each Akamai Named
    Executive Officer for that year.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">In April 2001, Mr.&nbsp;Conrades made a voluntary
    election to reduce his base salary to $20,000 in an effort to
    preserve the cash available to Akamai and help us reduce overall
    expenses, particularly at a time when Akamai was making
    significant reductions in its work force. In 2002, the
    Compensation Committee
    </FONT></TD>
</TR>

</TABLE>

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

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

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

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

<TR valign="top">
    <TD></TD>
    <TD align="left">
    <FONT size="2">approved the issuance of shares of restricted
    common stock to Mr.&nbsp;Conrades as the central part of a
    retention plan. The vesting of such shares is tied to the our
    achievement of specific financial goals. See &#147;Report of the
    Compensation Committee&#148; elsewhere in this Proxy Statement.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">In November 2002, Mr.&nbsp;Ruffolo exchanged
    750,000 outstanding options to purchase common stock for 175,000
    shares of restricted common stock and the right to receive an
    option to purchase 575,000 additional shares of common stock in
    May 2003. The shares of restricted common stock vest in full on
    the second anniversary of the date of grant. We are unable to
    assess the value of the consideration paid by Mr.&nbsp;Ruffolo
    for the shares of restricted stock.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(5)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Amounts were earned in the year ended
    December&nbsp;31, 2002 but were paid in 2003.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(6)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of contributions to our 401(k) plan made
    on behalf of the Akamai Named Executive Officer.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(7)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Amounts were earned in the year ended
    December&nbsp;31, 2001 but were paid in 2002.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(8)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">In November 2002, Mr.&nbsp;Schoettle exchanged
    750,000 outstanding options to purchase common stock for 100,000
    shares of restricted common stock and the right to receive an
    option to purchase 400,000 additional shares of common stock in
    May 2003. The shares of restricted common stock vest in full on
    the second anniversary of the date of grant. We are unable to
    assess the value of the consideration paid by Mr.&nbsp;Schoettle
    for the shares of restricted stock.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(9)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of relocation benefits and $1,000 in
    contributions to our 401(k) plan made on behalf of
    Mr.&nbsp;Schoettle.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Option Grants During Fiscal Year
2003</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth each grant of
options to purchase our common stock during fiscal year 2003 to
each of our Akamai Named Executive Officers. No stock
appreciation rights were granted during such fiscal year.
</FONT>

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

<TR>
    <TD width="25%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

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

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

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

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

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Securities</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Granted to</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise or</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Appreciation for Option</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Underlying</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Employees in</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Base Price</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Term (1)(2)</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Options</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Fiscal Year</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Per Share</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Granted</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2003 (%)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">($/Share)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Expiration Date</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">5%($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">10%($)</FONT></B></TD>
</TR>

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

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Michael Ruffolo
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">575,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">13</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">3.71</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5/14/2013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,341,589</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">3,399,851</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris Schoettle
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">400,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">3.71</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5/14/2013</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">933,280</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,365,114</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

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

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

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">The potential realizable value is calculated
    based on the term of the Akamai stock option at the time of
    grant, assuming stock price appreciation of 5% and 10% pursuant
    to rules promulgated by the Commission and does not represent
    our prediction of the price performance of our stock. The
    potential realizable values at 5% and 10% appreciation are
    calculated by assuming that the exercise price on the date of
    grant appreciates at the indicated rate for the entire term,
    compounded annually, of the Akamai stock option and that the
    Akamai stock option is exercised at the exercise price and sold
    on the last day of its term at the appreciated price.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Options vest in full on the third anniversary of
    the grant date subject to the possibility of accelerated vesting
    based on the achievement of certain financial goals.
    </FONT></TD>
</TR>

</TABLE>

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

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

<P align="left">
<I><FONT size="2">2003 Fiscal Year-End Option Values</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">No Akamai Named Executive Officers exercised
options during fiscal year 2003. The following table sets forth
information with regard to the value of unexercised options at
December&nbsp;31, 2003.
</FONT>

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

<TR>
    <TD width="40%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

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

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

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

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Fiscal Year-End (#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><B><FONT size="1">Options at Fiscal Year-End (1)</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
    <TD></TD>
    <TD colspan="7" align="center" nowrap><HR size="1" noshade></TD>
</TR>

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

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

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">George H. Conrades
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">0</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">750,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">7,125,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Robert Cobuzzi
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">50,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">200,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">482,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,928,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Michael Ruffolo
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">254,044</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">359,275</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,888,594</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">2,532,889</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris Schoettle
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">153,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">247,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,078,650</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,741,350</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

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

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

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Value is based on the difference between the
    option exercise price and the fair market value at
    December&nbsp;31, 2003, our fiscal-year end, of $10.76 (the
    closing price per share on December&nbsp;31, 2003 as quoted on
    the NASDAQ Stock Market), multiplied by the number of shares
    underlying the option.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<I><FONT size="2">Employment Agreements</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On July&nbsp;12, 2002, we entered into an
employment agreement and a stock option agreement with
Mr.&nbsp;Conrades. Under the terms of those agreements, if,
following a change in control of Akamai, Mr.&nbsp;Conrades
resigns due to a material reduction in his responsibilities or
compensation or is terminated for a reason other than cause, he
is entitled to a cash payment of $1.0&nbsp;million. In addition,
any unvested options shall vest as though one-third of such
unvested options had vested on each anniversary of the date of
grant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On November&nbsp;7, 2002, we entered into a
letter agreement with Mr.&nbsp;Cobuzzi setting forth his
responsibilities and compensation as our Chief Financial
Officer. Under the agreement, if Mr.&nbsp;Cobuzzi&#146;s
employment is terminated by us other than for cause during the
first three years of his employment, we will pay him an amount
equal to one year of his then-base salary plus certain medical
benefits. If such a termination occurs during the first year of
Mr. Cobuzzi&#146;s employment with us, 25% of his initial stock
option grant would be deemed vested at such time. If such a
termination occurs during the second year of
Mr.&nbsp;Cobuzzi&#146;s employment with us, 50% of his initial
stock option grant would be deemed vested at such time. If such
a termination occurs during the third year of
Mr.&nbsp;Cobuzzi&#146;s employment with us, 75% of his initial
stock option grant would be deemed vested at such time. In
addition, if there is a change of control of Akamai and the
surviving entity fails to offer to employ Mr. Cobuzzi in a
position with responsibilities that are commensurate with his
responsibilities with us and, as a result, his employment
terminates voluntarily or involuntarily, he shall be entitled to
receive payment of an amount equal to one year of his then-base
salary. If there is a change of control of Akamai, the number of
shares of our common stock as to which Mr. Cobuzzi&#146;s
options have vested shall be calculated as though the applicable
grant date were the date that is one year prior to such grant
date.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On July&nbsp;24, 2001, we entered into a letter
agreement with Mr.&nbsp;Ruffolo, which was subsequently amended
on July&nbsp;27, 2001, setting forth his responsibilities,
compensation and eligibility to receive certain payments upon
his termination. On November&nbsp;14, 2002, we entered into a
restricted stock agreement with Mr.&nbsp;Ruffolo pursuant to
which he received 175,000 shares of our common stock which would
vest in full upon a change in control of Akamai. On May&nbsp;14,
2003, we entered into a stock option agreement with
Mr.&nbsp;Ruffolo pursuant to which he acquired an option to
purchase up to 575,000 shares of our common stock. Under the
terms of Mr.&nbsp;Ruffolo&#146;s restricted stock agreement and
stock option agreement, some or all of the unvested shares of
restricted stock and stock options vest upon termination of
Mr.&nbsp;Ruffolo&#146;s employment under certain circumstances.
In April 2004, Mr.&nbsp;Ruffolo departed from the Company. In
connection with his departure, we entered into a separation
agreement with Mr.&nbsp;Ruffolo that was approved by the
Compensation Committee of the Board of Directors and supersedes
all prior agreements containing termination benefits. Under the
terms of the separation agreement, Mr.&nbsp;Ruffolo received a
cash payment of $400,000 and payment of medical benefits
</FONT>

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

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

<DIV align="left">
<FONT size="2">for a period of one year. In addition, vesting of
the 175,000 shares of restricted stock held by Mr.&nbsp;Ruffolo
was accelerated as of the date of termination.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On February&nbsp;15, 2001, we entered into a
letter agreement with Chris Schoettle setting forth his
responsibilities and compensation. The agreement provides that
if Mr.&nbsp;Schoettle&#146;s employment is terminated by us
other than for cause during the first three years of his
employment, we will pay him an amount equal to one year of his
then-base salary plus certain medical benefits. The agreement
also provides that if such a termination were to occur during
the first year of Mr.&nbsp;Schoettle&#146;s employment with us,
25% of his initial stock option grant would be deemed vested at
such time. If such a termination were to occur during the second
year of Mr.&nbsp;Schoettle&#146;s employment with us, 50% of his
initial stock option grant would be deemed vested at such time.
If such a termination were to occur during the third year of
Mr.&nbsp;Schoettle&#146;s employment with us, 75% of his initial
stock option grant would be deemed vested at such time. In
addition, if there is a change of control of Akamai and the
surviving entity fails to offer to employ Mr.&nbsp;Schoettle in
a position with responsibilities that are commensurate with his
responsibilities with us and, as a result, his employment
terminates voluntarily or involuntarily, he shall be entitled to
receive payment of an amount equal to one year of his then-base
salary. On November&nbsp;14, 2002, we entered into a restricted
stock agreement with Mr.&nbsp;Schoettle pursuant to which he
received 100,000 shares of our common stock, which would vest in
full upon a change in control of Akamai or upon termination of
his employment with Akamai for reasons other than gross
misconduct or his voluntary resignation. In May&nbsp;14, 2003,
we entered into a stock option agreement with Mr.&nbsp;Schoettle
pursuant to which he acquired the option to purchase up to
400,000 shares of our common stock. Under that agreement, if
Mr.&nbsp;Schoettle&#146;s employment is terminated for a reason
other than cause, as defined in the agreement, all of his
unvested options will accelerate as of the termination date.
Additionally, if there is a change in control of Akamai, the
number of shares of our common stock as to which
Mr.&nbsp;Schoettle&#146;s options have vested shall be
calculated as though the applicable grant date were the date
that is one year prior to such grant date.
</FONT>

<P align="left">
<I><FONT size="2">Ten Year Option Repricings</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth information
regarding options held by the Akamai Named Executive Officers
that were exchanged pursuant to option exchange agreements. The
Compensation Committee approved the option exchanges in order to
restore the incentive value of such options.
</FONT>

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

<TR>
    <TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Securities</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise Price</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">of Original</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Underlying</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Market Price of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">of Option at</FONT></B></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Option Term</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Options</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Stock at Time of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Time of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">New</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">at Date of</FONT></B></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Repriced or</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Repricing or</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Repricing or</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Repricing</FONT></B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Date</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Amended(#)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Amendment($)(1)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Amendment($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Price($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">or Amendment</FONT></B></TD>
</TR>

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

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Michael Ruffolo
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">11/14/02</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">500,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.01</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5.85</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">08/13/11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">11/14/02</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">250,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.01</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5.49</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">(2</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">12/11/11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Chris Schoettle
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">11/14/02</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">425,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.01</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">9.47</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">(3</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">03/19/11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">11/14/02</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">325,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1.01</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">4.21</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">(3</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">08/31/11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

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

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

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Represents the closing price of our common stock
    on November&nbsp;14, 2002 as reported by the NASDAQ Stock Market.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">In November 2002, Mr.&nbsp;Ruffolo agreed to
    exchange stock options to purchase 750,000 shares of our common
    stock for the issuance of 175,000 shares of restricted common
    stock at that time. In addition, in May 2003, we issued to him
    stock options to purchase an additional 575,000 shares of our
    common stock. There is no exercise price associated with the
    restricted stock grants. The exercise price of the stock options
    issued in May 2003 is $3.71, which was the fair market value of
    our common stock on the date of grant, as determined by the last
    reported sales price of our common stock as reported by the
    NASDAQ Stock Market on such date.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">In November 2002, Mr.&nbsp;Schoettle agreed to
    exchange stock options to purchase 750,000 shares of our common
    stock for the issuance of 100,000 shares of restricted common
    stock at that time. In addition, in May 2003, we issued to him
    stock options to purchase an additional 400,000 shares of our
    common stock so long as Mr.&nbsp;Schoettle continues to be an
    eligible participant under the 1998 Option Plan. There is no
    </FONT></TD>
</TR>

</TABLE>

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

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

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

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

<TR valign="top">
    <TD></TD>
    <TD align="left">
    <FONT size="2">exercise price associated with the restricted
    stock grants. The exercise price of the stock options issued in
    May 2003 is $3.71, which was the fair market value of our common
    stock on the date of grant, as determined by the last reported
    sales price of our common stock as reported by the NASDAQ Stock
    Market on such date.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">
<B><FONT size="2">Securities Authorized for Issuance Under
Equity Compensation Plans</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table reflects the number of shares
of our common stock that, as of December&nbsp;31, 2003, were
outstanding and available for issuance under compensation plans
that have previously been approved by our stockholders as well
as compensation plans that have not previously been approved by
our stockholders.
</FONT>

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

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="31%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

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

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Number of Securities to be</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Exercise Price of</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Future Issuance Under</FONT></B></TD>
</TR>

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

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Outstanding Options,</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Deferred Stock</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Plans (Excluding</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Deferred Stock Units and</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Units and Other</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Securities Reflected in</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2"></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Other Rights</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Rights ($)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">Column (a))</FONT></B></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Plan Category</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(a)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(b)</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">(c)</FONT></B></TD>
</TR>

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

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <B><FONT size="2">Equity Compensation Plans Approved by Security
    Holders(1)(2)</FONT></B></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">11,429,302</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5.16</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5,551,769</FONT></TD>
    <TD align="left" valign="bottom" nowrap><FONT size="2">(3)</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <B><FONT size="2">Equity Compensation Plans not Approved by
    Security Holders(4)</FONT></B></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">4,061,675</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">3.09</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">170,501</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <B><FONT size="2">Total</FONT></B></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">15,490,977</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">4.62</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">5,722,270</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

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

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

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

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of stock options and other rights
    issuable under the Stock Incentive Plan and the Akamai
    Technologies, Inc. 1999 Employee Stock Purchase Plan, as
    amended, which we refer to as the 1999 Employee Stock Purchase
    Plan.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Excludes stock options to purchase up to 18,468
    shares of our common stock with a weighted average exercise
    price of $18.85 per share issued pursuant to stock option plans
    acquired in connection with our acquisitions of InterVU, Inc.
    and Network24 Communications, Inc. No future stock options may
    be issued under these plans.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Includes 1,500,000 shares available for future
    issuance under our 1999 Employee Stock Purchase Plan. At our
    2002 annual meeting of stockholders, our stockholders approved
    an evergreen provision for the 1999 Employee Stock Purchase plan
    pursuant to which the number of shares available for issuance
    automatically increases to up to 1,500,000 shares each June 1
    and December&nbsp;1, subject to an aggregate cap of 20,000,000
    shares.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(4)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Consists of stock options issuable under the
    Akamai Technologies, Inc. 2001 Stock Incentive Plan, which we
    refer to as the 2001 Option Plan.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following is a brief description of the
material features of the equity compensation plan reflected in
the chart above that was not approved by our stockholders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On December&nbsp;11, 2001, our Board of Directors
approved the adoption of the 2001 Option Plan. The purpose of
this plan is to advance the interests of our stockholders by
enhancing our ability to attract, retain and motivate persons
who make important contributions to Akamai by providing them
with equity ownership opportunities and performance-based
incentives that better align their interests with those of our
stockholders. A total of 5,000,000 shares of our common stock,
subject to adjustment in the event of a stock split or similar
event, are issuable to our consultants, advisors and employees,
including individuals who have accepted offers for employment
with us; however, the 2001 Option Plan excludes from
participation all directors and all officers within the meaning
of Section&nbsp;16 of the Exchange Act and related rules. The
plan provides for the granting of non-statutory options,
restricted stock awards and other stock-based awards. A copy of
the 2001 Option Plan was filed with the Commission as an exhibit
to our annual report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 2002.
</FONT>

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

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Section&nbsp;16(a) of the Exchange Act, which we
refer to as Section&nbsp;16(a), requires our officers and
directors, and holders of more than ten percent of a registered
class of our equity securities, which we refer to as reporting
persons, to file reports of ownership and changes in ownership
of such securities with the Commission. Reporting persons are
required by Commission regulations to furnish us with copies of
all Section&nbsp;16(a) forms they file. We are not aware of any
beneficial owner of more than ten percent of our common stock.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Based solely on our review of copies of reports
filed by reporting persons or written representations from such
persons pursuant to Item&nbsp;405 of Regulation S-K, we believe
that during fiscal year 2003, all filings required to be made by
the reporting persons were made in accordance with the
requirements of the Exchange Act, except that on
December&nbsp;9, 2003, Mr.&nbsp;Graham filed a Form&nbsp;4 to
reflect sales on November&nbsp;14, 2003 of 15,000 shares of our
common stock by his wife.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Nominating and Corporate Governance
Committee&#146;s Process for Reviewing and Considering Director
Candidates</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has charged the Nominating
and Corporate Governance Committee with helping to assemble and
maintain a world-class and diverse Board of Directors that
effectively represents the interests of Akamai&#146;s
stockholders. The Nominating and Corporate Governance
Committee&#146;s goal is to attract intelligent individuals from
varied backgrounds who have a strong desire to understand, and
provide insight about, Akamai&#146;s business and corporate
goals; to understand and contribute to the role of the Board of
Directors in representing the interests of stockholders; and to
promote good corporate governance and ethical behavior by the
members of the Board and our employees.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In assessing whether an individual has these
characteristics and whether to recommend any particular
candidate for inclusion in the Board of Directors&#146; slate of
recommended director nominees, the Nominating and Corporate
Governance Committee will apply the criteria described in its
charter. These criteria include:
</FONT>
<P>

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">integrity,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">business and financial acumen,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">knowledge of Akamai&#146;s business and industry,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">experience in business, government and other
    fields,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">diligence,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">potential conflicts of interest,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">commitment to dedicate the necessary time and
    attention to Akamai, and
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the ability to act in the interests of all
    stockholders.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors particularly values
demonstrated leadership experience and skills as well as
reputation for the highest standards of honesty, ethics and
integrity. Akamai also recognizes the importance of having a
diverse Board of Directors and actively considers candidates who
can provide gender, racial, ethnic and professional diversity.
The Nominating and Corporate Governance Committee does not
assign specific weights to particular criteria and no particular
criterion is a prerequisite for each prospective nominee. The
Nominating and Corporate Governance Committee believes that the
backgrounds and qualifications of its directors, considered as a
group, should provide a composite mix of experience, knowledge
and abilities that will allow the Board of Directors to fulfill
its responsibilities.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">To identify and evaluate attractive candidates,
the members of the Nominating and Corporate Governance Committee
actively solicit recommendations from other members of
Akamai&#146;s Board of Directors and other professional
contacts. In addition, during fiscal year 2003, the Nominating
and Corporate Governance Committee retained the services of an
executive search firm to help identify and evaluate potential
candidates. As potential candidates emerge, the Nominating and
Corporate Governance Committee meets from time to
</FONT>

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

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<DIV align="left">
<FONT size="2">time to evaluate biographical information and
background material relating to potential candidates; discusses
those individuals with other members of the Board of Directors
and senior management; and reviews the results of personal
interviews and meetings that may have been conducted by members
of the Board of Directors, senior management and our outside
legal and accounting advisors. The Board of Directors encourages
the participation of Akamai&#146;s senior management in the
candidate review process to provide insight, for example, on
what additional perspectives and background could help the Board
of Directors best provide appropriate guidance to management in
dealing with the business risks and opportunities Akamai faces.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Stockholders may recommend individuals to the
Nominating and Corporate Governance Committee for consideration
as potential director candidates by submitting their names,
together with appropriate biographical information and
background materials and a statement as to whether the
stockholder or group of stockholders making the recommendation
has beneficially owned more than 5% of our common stock for at
least a year as of the date such recommendation is made, to
Nominating and Corporate Governance Committee, c/o Corporate
Secretary, Akamai Technologies, Inc., 8 Cambridge Center,
Cambridge, Massachusetts 02142. Assuming that appropriate
biographical and background material has been provided on a
timely basis, the Nominating and Corporate Governance Committee
will evaluate stockholder-recommended candidates by following
substantially the same process, and applying substantially the
same criteria, as it follows for candidates submitted by others.
Information about the process by which stockholders may send
written communications to the Board of Directors on candidates
and other matters is available on our website at
<U>www.akamai.com</U>.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Stockholders also have the right under
Akamai&#146;s bylaws to directly nominate director candidates,
without any action or recommendation on the part of the
Nominating and Corporate Governance Committee or the Board, by
following the procedures set forth under &#147;Deadline for
Submission of Stockholder Proposals for the 2005 Annual
Meeting&#148; below.
</FONT>

<P align="left">
<B><FONT size="2">Report of the Compensation Committee</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The 2003 Compensation Committee of Akamai&#146;s
Board of Directors has furnished the following report on
executive compensation.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee of Akamai&#146;s Board
of Directors, which during 2003 consisted of Mr.&nbsp;Graham and
Ms.&nbsp;Seligman:
</FONT>
<P>

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">reviews executive salaries,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">administers Akamai&#146;s stock plans,
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">approves stock option grants and any executive
    bonus and other executive incentive plans, and
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">approves the salaries and other benefits of its
    executive officers.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, the Compensation Committee consults
with Akamai&#146;s management regarding its benefit plans and is
responsible for reviewing Akamai&#146;s overall compensation
policies and practices. The Compensation Committee operates
under a written charter that was formally adopted by the
Compensation Committee and the Board of Directors in March 2004.
</FONT>

<P align="left">
<I><FONT size="2">Compensation Philosophies</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Akamai&#146;s executive compensation program for
2003 consisted primarily of base salary and stock options or
restricted stock designed to align executive compensation with
Akamai&#146;s long-term strategic goals and stockholder interest
and to attract, retain and reward executives. To that end, the
Compensation Committee&#146;s executive compensation philosophy
holds that a significant portion of executive compensation
should be tied directly to the performance of Akamai as a whole.
By linking compensation to Akamai&#146;s business objectives, we
believe that a performance-oriented environment is created for
its executives and other employees.
</FONT>

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

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee bases all executive
compensation decisions on a detailed review of many factors that
the Compensation Committee believes are relevant, including
external competitive data, Akamai&#146;s achievements over the
past year, the individual&#146;s past, present and expected
contributions to Akamai&#146;s success, any significant changes
in the individual&#146;s role or responsibilities, the internal
equity of compensation relationships among different employees
and employee groups and the long-term value of the executive. We
believe that it is important to reward excellence, leadership
and outstanding long-term company performance.
</FONT>

<P align="left">
<I><FONT size="2">Executive Compensation in Fiscal
2003</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Base Salary. </FONT></I><FONT size="2">Base
salaries for executive officers are determined annually by
reviewing three key areas: (1)&nbsp;the practices of companies
of similar size, market capitalization and industry;
(2)&nbsp;the skills and performance level of the individual
executive relative to targeted performance criteria; and
(3)&nbsp;actual corporate performance. In September 2001,
Mr.&nbsp;Sagan voluntarily elected to reduce his annual salary
from $250,000 to $50,000 per year and, in November 2001, elected
to further reduce it to $20,000 per year. Each of
Mr.&nbsp;Conrades and Mr.&nbsp;Leighton also reduced his salary
to $20,000 per year in April 2001. At that time, Akamai was
sharply cutting all of its expenses and engaging in work force
reductions. With the support of the Compensation Committee,
Messrs. Conrades, Leighton and Sagan took such salary reductions
to assist in stabilizing our financial position and demonstrate
to fellow employees and stockholders their commitment to the
long-term success of the company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Incentive Bonus.
</FONT></I><FONT size="2">Akamai generally does not have an
annual bonus plan for executive officers. Cash bonuses are used
on an exception basis to attract, retain and motivate
executives. When cash bonuses are employed, the executive&#146;s
cash bonus is based on the achievement of company-specific
performance measures and individual-specific objectives and the
contribution of the executive to the overall success and
achievements of Akamai and its management team. In 2003, in
recognition of their achievement of certain individual
performance goals, Mr.&nbsp;Ruffolo earned a bonus of $270,000,
and Mr.&nbsp;Schoettle earned a bonus of $170,000.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Long-Term Incentives.
</FONT></I><FONT size="2">The Compensation Committee believes
that stock options and restricted stock are excellent long-term
incentives for executives that align executive and stockholder
interests and assist in the retention of key officers and
employees. Stock options granted under Akamai&#146;s stock
option program generally vest over four years. In 2003, we
issued options to purchase approximately 2.4&nbsp;million shares
of our common stock to employees, both executives and
non-executives, that allow for acceleration of vesting in
partial increments upon the achievement of certain corporate
financial objectives. We believe that options with
vesting-acceleration triggers represent a broad-based incentive
program that further align employee interests with those of our
stockholders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">When determining stock option awards, the
Compensation Committee considers an executive&#146;s current
contributions to Akamai&#146;s performance, the anticipated
contribution to meeting Akamai&#146;s long-term strategic
performance goals, his or her position with Akamai and industry
practice. The direct link between the value of a stock option to
an executive and an increase in the price of Akamai&#146;s stock
makes stock option awards a key method for aligning executive
compensation with stockholder value. During 2003, the Akamai
Named Executive Officers received options to purchase an
aggregate of 975,000 shares of common stock at a weighted
average exercise price of $3.71 per share, as indicated in the
table under the heading &#147;Option Grants During Fiscal Year
2003&#148; included elsewhere in this Proxy Statement.
</FONT>

<P align="left">
<I><FONT size="2">Option Exchange</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In November 2002, each of Mr.&nbsp;Ruffolo and
Mr.&nbsp;Schoettle agreed to exchange stock options held by them
for shares of restricted common stock of Akamai and a commitment
from the company to issue additional stock options to them in
May 2003. See the table under the heading &#147;Ten-Year Option
Repricings&#148; included elsewhere in this Proxy Statement.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee approved the option
exchanges for Mr.&nbsp;Ruffolo and Mr.&nbsp;Schoettle because we
believe that executive officers with equity incentives, the
value of which increases over time, creates performance
incentives and helps us retain valuable employees. The stock
options surrendered by Messrs.&nbsp;Ruffolo and Schoettle had
exercise prices ranging from $4.21 to $9.47 per share,
significantly above
</FONT>

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

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

<DIV align="left">
<FONT size="2">the market price of our common stock. On the
effective date of the exchange, the closing market price of our
common stock as reported by the NASDAQ Stock Market was $1.01.
Accordingly, we believed that the option exchange program was an
appropriate mechanism to create performance incentives and
retain these executives.
</FONT>
</DIV>

<P align="left">
<I><FONT size="2">Chairman and Chief Executive Officer
Compensation in Fiscal 2003</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Conrades&#146; base salary and long-term
incentive compensation are determined by the Compensation
Committee without Mr.&nbsp;Conrades&#146; participation, based
upon the same factors as those used by the Compensation
Committee for executives in general. In April 2001,
Mr.&nbsp;Conrades made a voluntary election to reduce his base
salary from $345,000 to $20,000. Mr.&nbsp;Conrades does not
participate in a cash-based incentive plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In light of Mr.&nbsp;Conrades&#146; election to
reduce his salary, the members of the Compensation Committee and
other independent members of the Board of Directors believed it
was in the best interests of stockholders that Akamai provide
appropriate incentives to encourage him to continue to serve as
Chief Executive Officer. Given our financial condition at that
time and other factors, we determined that an equity-based
compensation plan would be the most effective and efficient
means of providing incentives to Mr.&nbsp;Conrades. Accordingly,
in July 2002, Mr.&nbsp;Conrades was granted an option to
purchase 750,000 shares of Akamai common stock at the market
price of $1.26 at that time. The options vest in full on the
third anniversary of the date of grant; however, vesting may
accelerate in partial increments upon Akamai&#146;s achievement
of certain financial objectives, which are defined in the option
agreement. In particular, vesting with respect to options to
purchase 250,000 shares of Akamai common stock accelerates on
the last day of the first calendar quarter ending on or before
December&nbsp;31, 2003 during which we have revenue of at least
$50,000,000 and a gross profit percentage of at least sixty-five
percent. On the last day of each successive calendar quarter, if
such milestones are maintained, vesting accelerates for options
to purchase the lesser of 250,000 shares or the number of shares
issuable in respect of any unvested options. If such milestones
are not maintained during a later quarter, vesting will instead
accelerate for options to purchase the lesser of 200,000 shares
or the number of shares issuable in respect of any unvested
shares.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">By tying accelerated vesting to the achievement
of significant corporate financial goals,
Mr.&nbsp;Conrades&#146; performance incentives are further
aligned with the interests with those of our stockholders. The
amount and nature of the grant were based on our review of the
financial performance of Akamai, Mr. Conrades&#146; contribution
to Akamai&#146;s performance, and our review of equity
incentives provided by other technology companies.
</FONT>

<P align="left">
<I><FONT size="2">Compliance with Internal Revenue Code
Section&nbsp;162(m)</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Section&nbsp;162(m) of the Internal Revenue Code
of 1986, as amended, which we refer to in this Proxy Statement
as the &#147;Code,&#148; generally disallows a tax deduction to
public companies for certain compensation in excess of
$1&nbsp;million paid to a company&#146;s Chief Executive Officer
and the four other most highly compensated executive officers.
Certain compensation, including qualified performance-based
compensation, will not be subject to the deduction limit if
certain requirements are met. The Compensation Committee reviews
the potential effect of Section&nbsp;162(m) periodically and
generally seeks to structure the long-term incentive
compensation granted to its executive officers in a manner that
is intended to avoid disallowance of deductions under
Section&nbsp;162(m). Nevertheless, there can be no assurance
that compensation attributable to awards granted under the Plan
will be treated as qualified performance-based compensation
under Section&nbsp;162(m). In addition, the Compensation
Committee reserves the right to use its judgment to authorize
compensation payments that may be subject to the limit when the
Compensation Committee believes such payments are
</FONT>

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

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<DIV align="left">
<FONT size="2">appropriate and in the best interests of Akamai
and its stockholders, after taking into consideration changing
business conditions and the performance of its employees.
</FONT>
</DIV>
<P>

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

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

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Ronald Graham
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Naomi O. Seligman
    </FONT></TD>
</TR>

</TABLE>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The members of the Compensation Committee during
fiscal year 2003 were Mr. Graham and Ms.&nbsp;Seligman.
Mr.&nbsp;Graham and Ms.&nbsp;Seligman joined the Compensation
Committee of the Board of Directors during 2001. Mr.&nbsp;Halter
joined the Compensation Committee in March 2004. No member of
the Compensation Committee was at any time during 2003, or
formerly, an officer or employee of Akamai or of any of our
subsidiaries, and no member of the Compensation Committee had
any relationship with us requiring disclosure under
Item&nbsp;404 of Regulation&nbsp;S-K under the Exchange Act.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">None of our executive officers has served as a
director or member of the compensation committee (or other
committee serving an equivalent function) of any other
organization that had any executive officer who served as a
director or member of the Compensation Committee.
</FONT>

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

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<P align="left">
<B><FONT size="2">Comparative Stock Performance</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following graph compares the cumulative total
return to stockholders of our common stock for the period from
October&nbsp;29, 1999, the date our common stock was first
traded on the NASDAQ National Market, through December&nbsp;31,
2003 (including the period between September&nbsp;3, 2002 and
May&nbsp;5, 2003 during which our common stock was listed on the
NASDAQ SmallCap Market) with the cumulative total return over
such period of:
</FONT>
<P>

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the NASDAQ Stock Market (U.S.) Index; and
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the S&#38;P Information Technology Sector Index.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The graph assumes the investment of $100 in our
common stock (at the initial public offering price) and in each
of such indices (and the reinvestment of all dividends).
Measurement points are to the last trading day for each
respective fiscal year. The performance shown is not necessarily
indicative of future performance.
</FONT>

<P align="center">
<B><FONT size="2">COMPARISON OF 50 MONTH CUMULATIVE TOTAL
RETURN*</FONT></B>

<DIV align="center">
<FONT size="2">AMONG AKAMAI TECHNOLOGIES, THE NASDAQ STOCK
MARKET (U.S.) INDEX
</FONT>
</DIV>

<DIV align="center">
<FONT size="2">AND THE S&#38;P INFORMATION TECHNOLOGY INDEX
</FONT>
</DIV>

<P align="center">
<IMG src="b49987atb4998705.gif" alt="PERFORMANCE GRAPH">

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

<TR>
    <TD width="24%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="2%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="71"></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="71" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">10/99</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">12/99</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">3/00</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">6/00</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">9/00</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">12/00</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">3/01</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">6/01</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">9/01</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">12/0</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">3/02</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">6/02</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">9/02</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">12/02</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">3/03</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">6/03</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">9/03</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">12/03</FONT></B></TD>
</TR>

<TR>
    <TD colspan="73"></TD>
</TR>

<TR>
    <TD colspan="73" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="1">Akamai Technologies, Inc.
    </FONT></DIV>
    </TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">100.00</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">1,260.10</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">618.51</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">456.67</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">201.98</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">81.01</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">32.93</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">35.29</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">11.19</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">22.85</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">15.39</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">5.00</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">3.19</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">6.65</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">5.42</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">18.38</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">16.50</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">41.38</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="73" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="1">Nasdaq Stock Market (U.S.)
    </FONT></DIV>
    </TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">100.00</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">139.54</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">165.04</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">144.96</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">136.05</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">93.27</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">62.75</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">60.42</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">55.07</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">48.90</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">49.30</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">51.49</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">48.18</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">44.96</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">40.55</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">50.27</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">56.99</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">63.36</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="73" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="1">S&#38;P Information Technology
    </FONT></DIV>
    </TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">100.00</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">133.50</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">151.61</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">137.62</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">118.45</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">78.90</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">58.47</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">65.73</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">43.40</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">58.49</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">54.14</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">40.07</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">29.93</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">36.61</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">36.46</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">43.08</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">47.75</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="1">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="1">53.89</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="73" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>

<P align="left">
<FONT size="2">*&nbsp;$100 invested on 10/29/99 in stock or
index-including reinvestment of dividends. Fiscal year ending
December 31.
</FONT>

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

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

<P align="left">
<B><FONT size="2">Report of the Audit Committee</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The 2003 Audit Committee of our Board of
Directors has furnished the following report on the Audit
Committee&#146;s review of our audited financial statements:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee of Akamai&#146;s Board of
Directors, which, during fiscal year 2003, consisted of
Mr.&nbsp;Coyne, Mr.&nbsp;Halter and Mr.&nbsp;Salerno, is
responsible for monitoring the integrity of Akamai&#146;s
consolidated financial statements, their compliance with legal
and regulatory requirements, Akamai&#146;s system of internal
controls and the qualifications, independence and performance of
its internal and independent auditors. The Audit Committee has
the authority and responsibility to select, evaluate and, when
appropriate, replace Akamai&#146;s independent auditors. We act
under a written charter that was first adopted and approved by
the Audit Committee and the Board of Directors in May 2000. The
charter was amended and restated in March 2004. A copy of our
current charter is attached as Appendix&nbsp;A to this proxy
statement. The members of the Audit Committee are independent
directors as defined by the Audit Committee charter and the
rules of the NASDAQ Stock Market.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Akamai&#146;s management is responsible for the
financial reporting process, including Akamai&#146;s system of
internal controls, and for the preparation of consolidated
financial statements in accordance with generally accepted
accounting principles. PricewaterhouseCoopers LLP, or PWC,
Akamai&#146;s independent auditors, is responsible for auditing
those financial statements and expressing an opinion as to their
conformity with generally accepted accounting principles. The
Audit Committee&#146;s responsibility is to oversee and review
these processes. The members of the Audit Committee are not,
however, professionally engaged in the practice of accounting or
auditing and do not provide any expert or other special
assurance as to the financial statements concerning compliance
with laws, regulations or generally accepted accounting
principles or as to auditor independence. The Audit Committee
relies, without independent verification, on the information
provided to it and on the representations made by management and
the independent auditors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We reviewed Akamai&#146;s audited financial
statements for the fiscal years ended December&nbsp;31, 2003,
December&nbsp;31, 2002 and December&nbsp;31, 2001 that were
included in Akamai&#146;s annual report on Form&nbsp;10-K as
filed with the Commission, which we refer to as the Financial
Statements. We reviewed and discussed the Financial Statements
with Akamai&#146;s management and PWC. PWC has represented to
the Audit Committee that, in its opinion, Akamai&#146;s audited
financial statements were prepared in accordance with accounting
principles generally accepted in the United States. We discussed
with PWC the matters required to be discussed by Statement on
Auditing Standards No.&nbsp;61 (Communication with Audit
Committees).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We also discussed with PWC its independence from
Akamai and considered whether PWC&#146;s rendering of certain
services to Akamai, other than services rendered in connection
with the audit or review of the Financial Statements, is
compatible with maintaining PWC&#146;s independence. See
&#147;Ratification of Selection of Independent Auditors&#148;
included elsewhere in this Proxy Statement. In connection with
these matters, Akamai received the written disclosures and
letter from PWC required by Independence Standards Board
Standard No.&nbsp;1 (Independence Discussions with Audit
Committees). This Standard requires auditors annually to
disclose in writing all relationships that in the auditor&#146;s
professional opinion may reasonably be thought to bear on its
independence, to confirm its perceived independence and to
engage in a discussion of independence.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Based on our review of the Financial Statements
and reports to us and our participation in the meetings and
discussions described above, and subject to the limitations on
our role and responsibilities referred to above and in the Audit
Committee Charter, we recommended to the Board of Directors that
the Financial Statements be included in Akamai&#146;s annual
report on Form&nbsp;10-K for the year ended December&nbsp;31,
2003 as filed with the Commission.
</FONT>
<P>

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

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

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Martin M. Coyne II
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">Frederic V. Salerno
    </FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">20
</FONT>

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

<P align="left">
<B><FONT size="2">Certain Relationships and Related Party
Transactions</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On November&nbsp;14, 2002, we entered into an
agreement with Michael Ruffolo, who at the time was our
Executive Vice President, Global Sales, Services and Marketing,
in which Mr.&nbsp;Ruffolo agreed to exchange outstanding options
to purchase 750,000 shares of our common stock for 175,000
shares of restricted stock issued at that time. The shares of
restricted common stock vest in full on the second anniversary
of the date of grant. As part of the agreement, we issued to
Mr.&nbsp;Ruffolo replacement options to purchase 575,000 shares
of our common stock in May 2003.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On November&nbsp;14, 2002, we entered into an
agreement with Chris Schoettle, our Executive Vice President,
Technology, Networks and Support, in which Mr. Schoettle agreed
to exchange outstanding options to purchase 750,000 shares of
our common stock for 100,000 shares of restricted stock issued
at that time. The shares of restricted common stock vest in full
on the second anniversary of the date of grant. As part of the
agreement, we issued to Mr.&nbsp;Schoettle replacement options
to purchase 400,000 shares of our common stock in May 2003.
</FONT>

<P align="center">
<B><FONT size="2">PROPOSAL TWO</FONT></B>

<!-- link1 "APPROVAL OF AMENDMENT OF AKAMAI&#146;S STOCK INCENTIVE PLAN" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center">
<B><FONT size="2">APPROVAL OF AMENDMENT OF AKAMAI&#146;S STOCK
INCENTIVE PLAN</FONT></B>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In the opinion of Akamai&#146;s Board of
Directors, the future success of Akamai depends, in large part,
on its ability to maintain a competitive position in attracting,
retaining and motivating key employees with experience and
ability. Under our Stock Incentive Plan, Akamai is currently
authorized to grant options to purchase up to an aggregate of
41,255,600 shares of common stock to its officers, directors,
employees and consultants. As of March&nbsp;31, 2004, there were
1,666,702&nbsp;shares available for future grant under the Stock
Incentive Plan and approximately 600 persons eligible to receive
equity awards under Stock Incentive Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In March 2004, Akamai&#146;s Board of Directors
adopted an amendment to the Stock Incentive Plan that increased
from 41,255,600 to 48,255,600 the number of shares of common
stock available for issuance upon exercise of options granted
under the Stock Incentive Plan (subject to adjustment for
certain changes in Akamai&#146;s capitalization). The
effectiveness of the amendment is subject to the approval of our
stockholders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We last amended the Stock Incentive Plan to
increase the number of shares available for issuance in 2001. We
use the Stock Incentive Plan to attract and retain talented
employees in a highly competitive environment for hiring
high-tech workers. Our management carefully considers all
proposed grants under the Stock Incentive Plan, and the
Compensation Committee approves all awards. We anticipate that
the proposed increase would meet our needs until 2007.
</FONT>

<P align="left">
<B><FONT size="2">Summary of the Stock Incentive Plan</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following summary of the Stock Incentive Plan
is qualified in its entirety by reference to the Stock Incentive
Plan, a copy of which is attached as <U>Appendix&nbsp;B</U> to
the electronic copy of this Proxy Statement filed with the
Commission and may be accessed from the Commission&#146;s
website at www.sec.gov. In addition, a copy of the Stock
Incentive Plan may be obtained by making a written request to
our General Counsel.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Description
of Awards.</I></FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Stock Incentive Plan provides for the grant
of incentive stock options intended to qualify under
Section&nbsp;422 of the Code, nonstatutory stock options,
restricted stock awards and other stock-based awards, including
the grant of shares based upon certain conditions, the grant of
securities convertible into common stock and the grant of stock
appreciation rights. In this Proxy Statement, we refer
collectively to the various types of grants as Awards.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Incentive Stock Options and Nonstatutory Stock
Options. </FONT></I><FONT size="2">Optionees receive the right
to purchase a specified number of shares of common stock at a
specified option price and subject to such other terms and
</FONT>

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

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

<DIV align="left">
<FONT size="2">conditions as are specified in connection with
the option grant. Options may be granted at an exercise price
that is less than, equal to or greater than the fair market
value of the common stock on the date of grant. Under present
law, however, incentive stock options and options intended to
qualify as performance-based compensation under
Section&nbsp;162(m) of the Code may not be granted at an
exercise price less than the fair market value of the common
stock on the date of grant (or less than 110% of the fair market
value in the case of incentive stock options granted to
optionees holding more than 10% of the total combined voting
power of Akamai or any of our subsidiaries). Incentive stock
options may not be granted for a term in excess of ten years
(five years in the case of incentive stock options granted to
optionees holding greater than 10% of the total combined voting
power of Akamai or its subsidiaries). The Stock Incentive Plan
permits our Board of Directors to determine the manner of
payment of the exercise price of options, including through
payment by cash, check or in connection with a &#147;cashless
exercise&#148; through a broker, by surrender to us of shares of
common stock, by delivery to us of a promissory note, or by any
other lawful means.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Restricted Stock Awards.
</FONT></I><FONT size="2">Restricted stock awards entitle
recipients to acquire shares of common stock, subject to
Akamai&#146;s right to repurchase all or part of such shares
from the recipient in the event that the conditions specified in
the applicable Award are not satisfied prior to the end of the
applicable restriction period established for such Award.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Other Stock-Based Awards.
</FONT></I><FONT size="2">Under the Stock Incentive Plan,
Akamai&#146;s Board of Directors has the right to grant other
Awards based upon the common stock having such terms and
conditions as the Board of Directors may determine, including
the grant of shares based upon certain conditions, the grant of
securities convertible into common stock and the grant of stock
appreciation rights.
</FONT>

<DIV>&nbsp;</DIV>

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

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

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Eligibility to Receive Awards</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Officers, employees, directors, consultants and
advisors of Akamai and our subsidiaries are eligible to be
granted Awards under the Stock Incentive Plan. Under current
law, however, incentive stock options may only be granted to
employees of Akamai and its subsidiaries. The maximum number of
shares with respect to which Awards may be granted to any
participant under the Stock Incentive Plan may not exceed
3,600,000 shares per calendar year.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">As of March&nbsp;31, 2004, approximately
600&nbsp;persons were eligible to receive Awards under the Stock
Incentive Plan, including executive officers and non-employee
directors. The granting of Awards under the Stock Incentive Plan
is discretionary, and we cannot now determine the number or type
of Awards to be granted in the future to any particular person
or group.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">On March&nbsp;31, 2004, the last reported sale
price of our common stock on the NASDAQ National Market was
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.
</FONT>

<DIV>&nbsp;</DIV>

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

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

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Administration</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee of our Board of
Directors administers the Stock Incentive Plan. The Compensation
Committee, with the assistance of management, determines the
recipients of awards and determines:
</FONT>
<P>

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the number of shares of common stock covered by
    options and the dates upon which such options become exercisable;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the exercise price of options;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the duration of options; and
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">the number of shares of common stock subject to
    any restricted stock or other stock-based awards and the terms
    and conditions for repurchase, issue price and repurchase price.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In the event of a merger or other acquisition
event (each as defined in the Stock Incentive Plan), our Board
of Directors is authorized to provide for outstanding awards to
be assumed or substituted for by the acquiror. If the acquiror
does not assume or substitute for outstanding awards, the Board
of Directors may
</FONT>

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

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<DIV align="left">
<FONT size="2">provide that all unexercised options will become
exercisable in full prior to the completion of such event and
that these options will terminate upon the completion of the
event if not previously exercised. In addition, immediately
prior to the consummation of change in control event (including
an acquisition event that is also a change in control event),
the vesting schedule of each outstanding option and stock-based
award will be accelerated.
</FONT>
</DIV>

<DIV>&nbsp;</DIV>

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

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

<TR valign="top">
    <TD></TD>
    <TD>
    <B><I><FONT size="2">Amendment or Termination</FONT></I></B></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">No Award may be made under the Stock Incentive
Plan after August&nbsp;18, 2008, but Awards previously granted
may extend beyond that date. Our Board of Directors may at any
time amend, suspend or terminate the Stock Incentive Plan. For
tax purposes, however, certain amendments may be subject to
stockholder approval.
</FONT>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following generally summarizes the United
States federal income tax consequences that generally will arise
with respect to awards granted under the plan. This summary is
based on the tax laws in effect as of the date of this proxy
statement. Changes to these laws could alter the tax
consequences described below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Incentive Stock Options.
</FONT></I><FONT size="2">A participant will not have income
upon the grant of an incentive stock option. Also, except as
described below, a participant will not have income upon
exercise of an incentive stock option if the participant has
been employed by Akamai or its corporate parent or 50% or
more-owned corporate subsidiary at all times beginning with the
option grant date and ending three months before the date the
participant exercises the option. If the participant has not
been so employed during that time, then the participant will be
taxed as described below under &#147;Nonstatutory Stock
Options.&#148; The exercise of an incentive stock option may
subject the participant to the alternative minimum tax.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A participant will have income upon the sale of
the stock acquired under an incentive stock option, which we
refer to as ISO Stock, at a profit (if sales proceeds exceed the
exercise price). The type of income will depend on when the
participant sells the ISO stock. If a participant sells the ISO
stock more than two years after the option was granted and more
than one year after the option was exercised, then all of the
profit will be long-term capital gain. If a participant sells
the ISO stock prior to satisfying these waiting periods, then
the participant will have engaged in a disqualifying disposition
and a portion of the profit will be ordinary income and a
portion may be capital gain. This capital gain will be long-term
if the participant has held the ISO stock for more than one year
and otherwise will be short-term. If a participant sells the ISO
stock at a loss (sales proceeds are less than the exercise
price), then the loss will be a capital loss. This capital loss
will be long-term if the participant held the ISO stock for more
than one year and otherwise will be short-term.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Nonstatutory Stock Options.
</FONT></I><FONT size="2">A participant will not have income
upon the grant of a nonstatutory stock option. A participant
will have compensation income upon the exercise of a
nonstatutory stock option equal to the value of the stock on the
day the participant exercised the option less the exercise
price. Upon sale of the stock, which we refer to as NSO Stock,
the participant will have capital gain or loss equal to the
difference between the sales proceeds and the value of the NSO
stock on the day the option was exercised. This capital gain or
loss will be long-term if the participant has held the NSO stock
for more than one year and otherwise will be short-term.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Restricted Stock.</FONT></I><FONT size="2"> A
participant will not have income upon the grant of restricted
stock unless an election under Section&nbsp;83(b) of the Code is
made within 30&nbsp;days of the date of grant. If a timely 83(b)
election is made, then a participant will have compensation
income equal to the value of the stock less the purchase price.
When the stock is sold, the participant will have capital gain
or loss equal to the difference between the sales proceeds and
the value of the stock on the date of grant. If the participant
does not make an 83(b) election, then when the stock vests the
participant will have compensation income equal to the value of
the stock on the vesting date less the purchase price. When the
stock is sold, the participant will have capital gain or loss
equal to the sales proceeds less the value of the stock on the
vesting date. Any capital gain or loss will be long-term if the
participant held the stock for more than one year and otherwise
will be short-term.
</FONT>

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

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Other Stock-Based Awards.
</FONT></I><FONT size="2">The tax consequences associated with
any other stock-based award granted under the Stock Incentive
Plan will vary depending on the specific terms of the Award.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Tax Consequences to
Akamai.</FONT></I><FONT size="2"> There will be no tax
consequences to us except that we will be entitled to a
deduction when a participant has compensation income. Any such
deduction will be subject to the limitations of
Section&nbsp;162(m) of the Code.
</FONT>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Akamai&#146;s Board of Directors believes that
the proposed amendment to the Stock Incentive Plan is in the
best interests of Akamai and its stockholders and therefore
recommends that the stockholders vote FOR this
proposal.</FONT></B>

<P align="center">
<B><FONT size="2">PROPOSAL THREE</FONT></B>

<!-- link1 "RATIFICATION OF SELECTION OF INDEPENDENT AUDITORS" -->
<DIV align="left"><A NAME="004"></A></DIV>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Board of Directors has selected
PricewaterhouseCoopers LLP, independent auditors, to audit our
financial statements for the year ending December&nbsp;31, 2004.
PWC has audited our Financial Statements for each fiscal year
since our inception. The affirmative vote of holders of a
majority of the shares of our common stock represented at the
meeting is necessary to ratify the appointment of PWC as our
independent auditors and our Board of Directors recommends that
the stockholders vote FOR confirmation of such selection. In the
event of a negative vote, the Board of Directors will reconsider
its selection. Representatives of PWC are expected to be present
at the Annual Meeting with the opportunity to make a statement
if they desire to do so, and are expected to be available to
respond to appropriate questions.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table summarizes the fees earned by
PWC from us for each of the last two fiscal years for audit,
audit-related, tax and other services:
</FONT>

<CENTER>
<TABLE width="70%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="69%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="center" nowrap><B><FONT size="1">Fee Category</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2003</FONT></B></TD>
    <TD></TD>
    <TD colspan="3" align="center" nowrap><B><FONT size="1">2002</FONT></B></TD>
</TR>

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

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Audit Fees(1)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">778,655</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,154,324</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Audit-Related Fees(2)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">46,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">15,250</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">All Other Fees(3)
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">54,786</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">48,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top">
    <DIV style="margin-left:10px; text-indent:-10px">
    <FONT size="2">Total Fees
    </FONT></DIV>
    </TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">879,941</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right" valign="bottom"><FONT size="2">$</FONT></TD>
    <TD align="right" valign="bottom" nowrap><FONT size="2">1,218,074</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

</TR>

</TABLE>
</CENTER>

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

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

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

<TR valign="top">
    <TD><FONT size="2">(1)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Audit fees consist of fees for the audit of our
    financial statements, the review of the interim financial
    information included in our quarterly reports on Form&nbsp;10-Q,
    professional fees related to the issuance of our 1% senior
    convertible notes and other professional services provided in
    connection with statutory and regulatory filings or engagements.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(2)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">Audit-related fees consist of fees for assurance
    and related services that are reasonably related to the
    performance of the audit and the review of our financial
    statements and which are not reported under &#147;Audit
    Fees.&#148; These services relate to our employee benefit
    audits, internal control reviews, attestation services that are
    not required by statute or regulation and consultations
    concerning financial accounting and reporting standards.
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD><FONT size="2">(3)&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">All Other Fees includes services provided to us
    in support of our annual information security risk assessment.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee has adopted policies and
procedures relating to the approval of all audit and non-audit
services that are to be performed by our independent auditor.
This policy generally provides that we will not engage our
independent auditor to render audit or non-audit services unless
the service is specifically approved in advance by the Audit
Committee or the engagement is entered into pursuant to one of
the pre-approval procedures described below. The Audit Committee
may delegate pre-approval authority to one or more of its
independent members but not to our management.
</FONT>

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

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Approval of services can come in two
ways:</FONT></I><FONT size="2"> specific pre-approval or general
pre-approval. Specific pre-approval represents the Audit
Committee&#146;s consent for the independent auditor to perform
a specific project, set of services or transaction for us.
General pre-approval represents the Audit Committee&#146;s
consent for the independent auditor to perform certain
categories of services for us. If a particular service or
project falls into a category that has been generally
pre-approved by the Audit Committee within the preceding twelve
months, specific pre-approval of that service or project need
not be obtained. Any proposed services exceeding cost levels
generally pre-approved by the Audit Committee will require
specific pre-approval. From time to time, the Audit Committee
may revise the list of services for which general pre-approval
is granted.
</FONT>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">Our Board of Directors believes that the
selection of PricewaterhouseCoopers LLP as independent auditors
for the year ending December 31, 2004 is in the best interests
of Akamai and our stockholders and, therefore, recommends that
the stockholders vote FOR this proposal.</FONT></B>

<!-- link1 "OTHER MATTERS" -->
<DIV align="left"><A NAME="005"></A></DIV>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Board of Directors does not know of any other
matters that may come before the Annual Meeting. However, if any
other matters are properly presented to the Annual Meeting, it
is the intention of the persons named in the accompanying proxy
to vote, or otherwise act, in accordance with their judgment on
such matters.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We have hired Georgeson Shareholder
Communications, Inc., a proxy solicitation firm, or Georgeson,
to assist us with the distribution of proxy materials and vote
solicitation. We will pay Georgeson approximately $20,000 for
its services plus out-of-pocket expenses. We may ask Georgeson
to solicit proxies on our behalf by telephone for a fee of $5.00
per phone call. Georgeson will solicit proxies by personal
interview, mail and telephone.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">All costs of solicitation of proxies will be
borne by us. In addition to solicitations by mail or by
Georgeson, our Board of Directors, officers and other employees,
without additional remuneration, may solicit proxies by
telephone, telegraph, electronic mail and personal interviews.
Brokers, custodians and fiduciaries will be requested to forward
proxy soliciting material to the owners of stock held in their
names, and we will reimburse them for their reasonable
out-of-pocket expenses incurred in connection with the
distribution of proxy materials.
</FONT>

<P align="left">
<B><FONT size="2">Householding of Annual Meeting
Materials</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Some banks, brokers and other nominee record
holders may be participating in the practice of
&#147;householding&#148; proxy statements and annual reports.
This means that only one copy of our proxy statement or annual
report may have been sent to multiple shareholders in your
household. We will promptly deliver a separate copy of either
document to you if you write us at the following address or call
us at the following phone number:
</FONT>

<P align="left">
<FONT size="2">Akamai Technologies, Inc.
</FONT>

<DIV align="left">
<FONT size="2">8 Cambridge Center
</FONT>
</DIV>

<DIV align="left">
<FONT size="2">Cambridge, Massachusetts 02142
</FONT>
</DIV>

<DIV align="left">
<FONT size="2">Attention: Investor Relations
</FONT>
</DIV>

<DIV align="left">
<FONT size="2">Phone: 617-444-3000
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If you want to receive separate copies of the
annual report and proxy statement in the future, or if you are
receiving multiple copies and would like to receive only one
copy for your household, you should contact your bank, broker,
or other nominee record holder, or you may contact us at the
above address and phone number.
</FONT>

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

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<P align="left">
<B><FONT size="2">Deadline for Submission of Stockholder
Proposals for the 2005 Annual Meeting</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Proposals of stockholders intended to be
presented at the 2005 Annual Meeting pursuant to Rule&nbsp;14a-8
promulgated under the Exchange Act must be received by us no
later than December&nbsp;13, 2004 in order that they may be
included in the proxy statement and form of proxy relating to
that meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In addition, our by-laws require that we be given
advance notice of stockholder nominations for election to our
Board of Directors and of other business that stockholders wish
to present for action at an annual meeting of stockholders
(other than matters included in our proxy statement in
accordance with Rule&nbsp;14a-8 under the Exchange Act). The
required notice must be delivered by the stockholder and
received by the Secretary at the principal executive offices of
Akamai (i)&nbsp;no earlier than 90&nbsp;days before and no later
than 70&nbsp;days before the first anniversary of the preceding
year&#146;s annual meeting, or (ii)&nbsp;if the date of the
annual meeting is advanced by more than 20&nbsp;days or delayed
by more than 70&nbsp;days from the first anniversary date,
(a)&nbsp;no earlier than 90&nbsp;days before the annual meeting
and (b)&nbsp;no later than 70&nbsp;days before the annual
meeting or ten days after the day notice of the annual meeting
was mailed or publicly disclosed, whichever occurs first.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">OUR BOARD OF DIRECTORS ENCOURAGES STOCKHOLDERS
TO ATTEND THE MEETING. WHETHER OR NOT YOU PLAN TO ATTEND, YOU
ARE URGED TO COMPLETE, DATE, SIGN AND RETURN THE ENCLOSED PROXY
IN THE ACCOMPANYING ENVELOPE. A PROMPT RESPONSE WILL GREATLY
FACILITATE ARRANGEMENTS FOR THE MEETING AND YOUR COOPERATION
WILL BE APPRECIATED. STOCKHOLDERS WHO ATTEND THIS MEETING MAY
VOTE THEIR STOCK PERSONALLY EVEN THOUGH THEY HAVE SENT IN THEIR
PROXIES.</FONT></B>
<P>

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

<TR>
    <TD width="36%"></TD>
    <TD width="64%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">By order of the Board of Directors,
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="b49987atb4998709.gif" alt="-s- Melanie Haratunian"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT size="2">MELANIE HARATUNIAN
    </FONT></TD>
</TR>

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

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

</TABLE>

<P align="left">
<FONT size="2">April&nbsp;12, 2004
</FONT>

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

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<!-- link1 "APPENDIX A" -->
<DIV align="left"><A NAME="006"></A></DIV>

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

<P align="center">
<B><FONT size="2">AKAMAI TECHNOLOGIES, INC.</FONT></B>

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

<P align="center">
<B><FONT size="2">(Revised &#150; March 2004)</FONT></B>

<P align="left">
<B><FONT size="2">A.&nbsp;Purpose</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The purpose of the Audit Committee is to assist
the Board of Directors&#146; oversight of the Company&#146;s
accounting and financial reporting processes and the audits of
the Company&#146;s financial statements.
</FONT>

<P align="left">
<B><FONT size="2">B.&nbsp;Structure and Membership</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;<I>Number; Chair.&nbsp;</I>The Audit
Committee shall consist of at least three independent,
financially literate members of the Board of Directors meeting
the requirements set forth in Sections&nbsp;2 and 3 below.
Unless a Chairman is elected by the Board of Directors, the
Audit Committee shall elect a Chairman by majority vote.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;<I>Independence.</I>&nbsp;Except as
permitted by applicable rules of the NASDAQ Stock Market
(&#147;Nasdaq&#148;), each member of the Audit Committee shall
be independent as defined in the Nasdaq rules, meet the criteria
for independence set forth in applicable rules issued by the
Securities and Exchange Commission (the &#147;Commission&#148;)
under the Securities Exchange Act of 1934, as amended (the
&#147;Exchange Act&#148;) and not have participated in the
preparation of the financial statements of the Company or any
current subsidiary of the Company at any time during the
preceding three years.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under exceptional and limited circumstances, one
director who has a relationship making him or her not
independent, and who is not a Company employee or an immediate
family member of a Company employee, may serve on the Audit
Committee if the Board of Directors determines that the
director&#146;s membership on the Audit Committee is required by
the best interests of the Company and its shareholders, and
discloses in the next annual proxy statement after such
determination the nature of the relationship and the reasons for
the determination.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;<I>Financial Literacy.</I>&nbsp;Each
member of the Audit Committee must be able to read and
understand fundamental financial statements, including the
Company&#146;s balance sheet, income statement, and cash flow
statement, or must become able to do so within a reasonable time
after his or her appointment to the Audit Committee. At least
one member of the Audit Committee must have past employment
experience in finance or accounting, professional certification
in accounting, or other comparable experience or background
which result in the member having financial sophistication (such
as being or having been a chief executive officer, chief
financial officer or other senior officer with financial
oversight responsibilities). Unless otherwise determined by the
Board of Directors (in which case disclosure of such
determination shall be made in the Company&#146;s annual report
filed with the SEC), at least one member of the Audit Committee
shall be an &#147;audit committee financial expert&#148; (as
defined by applicable Commission rules).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.&nbsp;<I>Selection and
Removal.</I>&nbsp;Members of the Audit Committee shall be
appointed by the Board of Directors, upon the recommendation of
the Nominating and Corporate Governance Committee. The Board of
Directors may remove members of the Audit Committee from such
committee, with or without cause.
</FONT>

<P align="left">
<B><FONT size="2">C.&nbsp;Authority and
Responsibilities</FONT></B>

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

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee shall assist the Board of
Directors in fulfilling its responsibilities to shareholders
concerning the Company&#146;s accounting and reporting
practices, and shall facilitate open communication between the
Audit Committee, Board of Directors, outside auditors, and
management.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Management is responsible for the preparation,
presentation and integrity of the Company&#146;s financial
statements and for the appropriateness of the accounting
principles and reporting policies that are used by the Company.
The Audit Committee shall discharge its responsibilities, and
shall assess the information provided by the Company&#146;s
management and the outside auditor, in accordance with its
business judgment. In
</FONT>

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

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<DIV align="left">
<FONT size="2">discharging its duties, the Audit Committee will
review the Company&#146;s financial processes, the systems of
internal control, the management of financial risks, the audit
process and the process for monitoring compliance with laws and
regulations. The responsibilities set forth herein do not
reflect or create any duty or obligation of the Audit Committee
to plan, conduct, oversee or determine the appropriate scope of
any audit, or to determine that the Company&#146;s financial
statements are complete, accurate, fairly presented, or in
accordance with generally accepted accounting principles or
applicable law. In exercising its business judgment, the Audit
Committee shall rely on the information and advice provided by
the Company&#146;s management and/or its outside auditor.
</FONT>
</DIV>

<P align="left">
<B><FONT size="2">Oversight of Independent Auditors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;<I>Appointment and Evaluation of
Independent Auditors.</I>&nbsp;The Audit Committee shall be
solely and directly responsible for appointing, evaluating,
retaining and, when necessary, terminating the engagement of the
independent auditor. The Audit Committee may, in its discretion,
seek stockholder ratification of the independent auditor it
appoints. The Audit Committee shall have sole and direct
responsibility for setting the compensation of the independent
auditor. The Audit Committee is empowered, without further
action by the Board of Directors, to cause the Company to pay
the compensation of the independent auditor established by the
Audit Committee. The Audit Committee shall adopt, maintain and
follow procedures consistent with the rules and regulations of
the Commission for the pre-approval of audit and non-audit
services provided to the Company by its independent auditor.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;<I>Oversight of Independent
Auditors.</I>&nbsp;The independent auditor shall report directly
to the Audit Committee, and the Audit Committee shall have sole
and direct responsibility for overseeing the work of the
independent auditor, including resolution of disagreements
between Company management and the independent auditor regarding
financial reporting. In connection with its oversight role, the
Audit Committee shall, from time to time as appropriate, receive
and consider the reports required to be made by the independent
auditor regarding:
</FONT>
<P>

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

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">critical accounting policies and practices;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">alternative treatments within generally accepted
    accounting principles for policies and practices related to
    material items that have been discussed with Company management,
    including ramifications of the use of such alternative
    disclosures and treatments, and the treatment preferred by the
    independent auditor;
    </FONT></TD>
</TR>

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

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD><FONT size="2">&#149;&nbsp;</FONT></TD>
    <TD align="left">
    <FONT size="2">other material written communications between the
    independent auditor and Company management; and.
    </FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;<I>Auditor Independence.</I>&nbsp;The
Audit Committee shall discuss with the outside auditor its
independence, and shall actively engage in a dialogue with the
outside auditor regarding any disclosed relationships or
services that might impact the objectivity and independence of
the auditor. The Audit Committee shall take, or recommend that
the full Board of Directors take, appropriate action to oversee
the independence of the outside auditor. The Audit Committee
shall ensure that they receive from the outside auditor the
written disclosures and letter from the outside auditor required
by Independence Standards Board Standard No.&nbsp;1.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.&nbsp;<I>Meetings with Management.</I>&nbsp;The
Audit Committee shall meet privately as often as it deems
necessary with: (i)&nbsp;the outside auditor; (ii)&nbsp;the
Chief Financial Officer; (iii)&nbsp;the Controller; and
(iv)&nbsp;the most senior person (if any) responsible for the
internal audit activities of the Company.
</FONT>

<P align="left">
<B><FONT size="2">Review of Financial Statements</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;<I>Audited Financial
Statements.</I>&nbsp;The Audit Committee shall review and
discuss with the Company&#146;s outside auditor and management
the Company&#146;s audited financial statements, including, for
example, whether management&#146;s choices of accounting
principles are, as a whole, conservative, moderate or
aggressive. The Audit Committee shall discuss with the outside
auditor the matters about which Statement on Auditing Standards
No.&nbsp;61 requires discussion.
</FONT>

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

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;<I>Annual Report.</I>&nbsp;Based upon its
discharge of its responsibilities hereunder and any other
information, discussion or communication that the Audit
Committee in its business judgment deems relevant, the Audit
Committee shall consider whether they will recommend to the
Board of Directors that the Company&#146;s audited financial
statements be included in the Company&#146;s annual reports on
Forms 10-K.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;<I>Other Disclosures.</I>&nbsp;The Audit
Committee shall prepare for inclusion where necessary in a proxy
or information statement of the Company relating to an annual
meeting of security holders at which directors are to be elected
(or special meeting or written consents in lieu of such
meeting), the report described in Item&nbsp;306 of
Regulation&nbsp;S-K.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.&nbsp;<I>Discussion of
Disagreements.</I>&nbsp;The Audit Committee shall annually
inform the outside auditor, the Chief Financial Officer, the
Controller, and the most senior other person, if any,
responsible for the internal audit activities, that they should
promptly contact the Audit Committee or its Chairman about any
significant issue or disagreement concerning the Company&#146;s
accounting practices or financial statements that is not
resolved to their satisfaction. Where such communications are
made to the Chairman, he or she shall confer with the outside
auditor concerning any such communications, and shall notify the
other members of the Audit Committee of any communications which
the outside auditor or the Chairman in the exercise of his or
her business judgment believes should be considered by the Audit
Committee prior to its next scheduled meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">5.&nbsp;<I>Interim Financial
Information.</I>&nbsp;The Audit Committee shall review interim
financial information with the Company&#146;s management and the
outside auditor. The Audit Committee shall direct the outside
auditor to use its best efforts to perform all reviews of
interim financial information prior to disclosure by the Company
of such information, and to discuss promptly with the Chairman
of the Audit Committee and the Chief Financial Officer any
matters identified in connection with the auditor&#146;s review
of interim financial information which are required to be
discussed by Statement on Auditing Standards No.&nbsp;61. The
Chairman of the Audit Committee shall discuss any such matters
with the outside auditor, and shall notify the other members of
the Audit Committee of any discussions which the outside auditor
or the Chairman in the exercise of his or her business judgment
believes should be considered by the Audit Committee prior to
disclosure or filing of the interim financial information, or
the Audit Committee&#146;s next scheduled meeting. The Audit
Committee shall direct management to advise the Audit Committee
in the event that the Company proposes to disclose or file
interim financial information prior to completion of review by
the outside auditor.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">6.&nbsp;<I>Judgments of Management.</I>&nbsp;In
connection with its review of the Company&#146;s interim and
audited financial statements, the Audit Committee shall inquire
of the Company&#146;s management and the outside auditors as to
whether there were any significant financial reporting issues
and judgment made in connection with the preparation of such
financial statements, as well as the potential impact on the
Company&#146;s financial statements of any proposed changes in
accounting and financial reporting rules.
</FONT>

<P align="left">
<B><FONT size="2">Controls and Procedures</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;The Audit Committee shall coordinate the
Board of Directors&#146; oversight of the Company&#146;s
internal control over financial reporting, disclosure controls
and procedures and code of conduct. The Audit Committee shall
receive and review the reports of the CEO and CFO required by
Rule&nbsp;13a-14 of the Exchange Act.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;The Audit Committee shall establish
procedures for (i)&nbsp;the receipt, retention and treatment of
complaints received by the Company regarding accounting,
internal accounting controls or auditing matters; and
(ii)&nbsp;the confidential, anonymous submission by employees of
the Company of concerns regarding questionable accounting or
auditing matters.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;The Audit Committee shall review all
&#147;related party transactions&#148; (as defined by the rules
issued by the Commission) on an ongoing basis, and all such
transactions must be approved by the Audit Committee.
</FONT>

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

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<P align="left">
<B><FONT size="2">D.&nbsp;Procedures and
Administration</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">1.&nbsp;<I>Meetings.</I>&nbsp;The Audit Committee
shall meet as often as it deems necessary in order to perform
its responsibilities. The Audit Committee may also act by
unanimous written consent in lieu of a meeting. The Audit
Committee shall keep such records of its meetings as it shall
deem appropriate.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">2.&nbsp;<I>Subcommittees.</I>&nbsp;The Audit
Committee may form and delegate authority to one or more
subcommittees (including a subcommittee consisting of a single
member), as it deems appropriate from time to time under the
circumstances. Any decision of a subcommittee to pre-approve
audit, review, attest or non-audit services shall be presented
to the full Audit Committee at its next scheduled meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">3.&nbsp;<I>Reports to the Board.</I>&nbsp;The
Audit Committee shall report regularly to the Board of Directors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">4.&nbsp;<I>Charter.</I>&nbsp;The Compensation
Committee shall periodically review and reassess the adequacy of
this Charter and recommend any proposed changes to the Board of
Directors for approval.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">5.&nbsp;<I>Independent Advisors.</I>&nbsp;The
Audit Committee is authorized, without further action by the
Board of Directors, to engage such independent legal, accounting
and other advisors as it deems necessary or appropriate to carry
out its responsibilities. Such independent advisors may be the
regular advisors to the Company. The Audit Committee is
empowered, without further action by the Board of Directors, to
cause the Company to pay the compensation of such advisors as
established by the Audit Committee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">6.&nbsp;<I>Investigations.</I>&nbsp;The Audit
Committee shall have the authority to conduct or authorize
investigations into any matters within the scope of its
responsibilities as it shall deem appropriate, including the
authority to request any officer, employee or advisor of the
Company to meet with the Audit Committee or any advisors engaged
by the Audit Committee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">7.&nbsp;<I>Expenses.</I>&nbsp;The Audit Committee
is empowered, without further action by the Board of Directors,
to cause the Company to pay the ordinary administrative expenses
of the Audit Committee that are necessary or appropriate in
carrying out its duties.
</FONT>

<P align="center"><FONT size="2">A-4
</FONT>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>THIRD AMENDMENT TO</B>



<P align="center" style="font-size: 10pt"><B>SECOND AMENDED AND RESTATED 1998 STOCK INCENTIVE PLAN</B>



<P align="center" style="font-size: 10pt"><B>OF</B>



<P align="center" style="font-size: 10pt"><B>AKAMAI TECHNOLOGIES, INC.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Second Amended and Restated 1998 Stock Incentive Plan (the &#147;Plan&#148;) be
and hereby is amended by deleting the first sentence of Section 4(a) thereof in
its entirety and inserting in lieu thereof the following:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Subject to adjustment under Section&nbsp;8, Awards may be made under the Plan
for up to 48,255,600 shares of common stock, $.01 par value per share, of
the Company (the &#147;Common Stock&#148;).&#148;</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">Adopted by the Board of Directors on March&nbsp;16, 2004.


<P align="left" style="font-size: 10pt">Approved by the Stockholders on .


<P align="center" style="font-size: 10pt">B-1
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><B>SECOND AMENDMENT TO</B>



<P align="center" style="font-size: 10pt"><B>SECOND AMENDED AND RESTATED 1998 STOCK INCENTIVE PLAN</B>



<P align="center" style="font-size: 10pt"><B>OF</B>



<P align="center" style="font-size: 10pt"><B>AKAMAI TECHNOLOGIES, INC.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Second Amended and Restated 1998 Stock Incentive Plan (the &#147;Plan&#148;) be
and hereby is amended by deleting the first sentence of Section 4(a) thereof in
its entirety and inserting in lieu thereof the following:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Subject to adjustment under Section&nbsp;8, Awards may be made under the Plan
for up to 41,255,600 shares of common stock, $.01 par value per share, of
the Company (the &#147;Common Stock&#148;).&#148;</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">Adopted by the Board of Directors on March&nbsp;20, 2001.


<P align="left" style="font-size: 10pt">Approved by the Stockholders on May&nbsp;22, 2001.


<P align="center" style="font-size: 10pt">B-2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><B>AMENDMENT TO</B>



<P align="center" style="font-size: 10pt"><B>SECOND AMENDED AND RESTATED 1998 STOCK INCENTIVE PLAN</B>



<P align="center" style="font-size: 10pt"><B>OF</B>



<P align="center" style="font-size: 10pt"><B>AKAMAI TECHNOLOGIES, INC.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Second Amended and Restated 1998 Stock Incentive Plan (the &#147;Plan&#148;) be
and hereby is amended by deleting the first sentence of Section 4(a) thereof in
its entirety and inserting in lieu thereof the following:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Subject to adjustment under Section&nbsp;8, Awards may be made under the Plan
for up to 37,755,600 shares of common stock, $.01 par value per share, of
the Company (the &#147;Common Stock&#148;).&#148;</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">Adopted by the Board of Directors on April&nbsp;9, 2000.


<P align="left" style="font-size: 10pt">Approved by the Stockholders on May&nbsp;24, 2000.



<P align="center" style="font-size: 10pt">B-3
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>AKAMAI TECHNOLOGIES, INC.</B>



<P align="center" style="font-size: 10pt">Second Amended and
Restated<br>
<U>1998 Stock Incentive Plan</U>



<P align="left" style="font-size: 10pt">1.&nbsp;&nbsp;&nbsp; <U>Purpose</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of this Amended and Restated 1998 Stock Incentive Plan (the
&#147;Plan&#148;) of Akamai Technologies, Inc., a Delaware corporation (the &#147;Company&#148;),
is to advance the interests of the Company&#146;s stockholders by enhancing the
Company&#146;s ability to attract, retain and motivate persons who make (or are
expected to make) important contributions to the Company by providing such
persons with equity ownership opportunities and performance-based incentives
and thereby better aligning the interests of such persons with those of the
Company&#146;s stockholders. Except where the context otherwise requires, the term
&#147;Company&#148; shall include any of the Company&#146;s present or future subsidiary
corporations of as defined in Section 424(f) of the Internal Revenue Code of
1986, as amended, and any regulations promulgated thereunder (the &#147;Code&#148;).


<P align="left" style="font-size: 10pt">2.&nbsp;&nbsp;&nbsp; <U>Eligibility</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of the Company&#146;s employees, officers, directors, consultants and
advisors (and any individuals who have accepted an offer for employment) are
eligible to be granted options, restricted stock awards, or other stock-based
awards (each, an &#147;Award&#148;) under the Plan. Each person who has been granted an
Award under the Plan shall be deemed a &#147;Participant.&#148;


<P align="left" style="font-size: 10pt">3.&nbsp;&nbsp;&nbsp; <U>Administration, Delegation</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Administration by Board of Directors</U>. The Plan will be
administered by the Board of Directors of the Company (the &#147;Board&#148;). The Board
shall have authority to grant Awards and to adopt, amend and repeal such
administrative rules, guidelines and practices relating to the Plan as it shall
deem advisable. The Board may correct any defect, supply any omission or
reconcile any inconsistency in the Plan or any Award in the manner and to the
extent it shall deem expedient to carry the Plan into effect and it shall be
the sole and final judge of such expediency. All decisions by the Board shall
be made in the Board&#146;s sole discretion and shall be final and binding on all
persons having or claiming any interest in the Plan or in any Award. No
director or person acting pursuant to the authority delegated by the Board
shall be liable for any action or determination relating to or under the Plan
made in good faith.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Delegation to Executive Officers</U>. To the extent permitted by
applicable law, the Board may delegate to one or more executive officers of the
Company the power to make Awards and exercise such other powers under the Plan
as the Board may determine, provided that the Board shall fix the maximum
number of shares subject to Awards and the maximum number of shares for any one
Participant to be made by such executive officers.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp; <U>Appointment of Committees</U>. To the extent permitted by
applicable law, the Board may delegate any or all of its powers under the Plan
to one or more committees or subcommittees of the Board (a &#147;Committee&#148;). All
references in the Plan to the &#147;Board&#148; shall mean the Board or a Committee of
the Board or the executive officer referred to in Section 3(b) to the extent
that the Board&#146;s powers or authority under the Plan have been delegated to such
Committee or executive officer.


<P align="center" style="font-size: 10pt">B-4
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">4.&nbsp;&nbsp;&nbsp; <U>Stock Available for Awards</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Number of Shares</U>. Subject to adjustment under Section&nbsp;8,
Awards may be made under the Plan for up to 11,377,800 shares of common stock,
$0.01 par value per share, of the Company (the &#147;Common Stock&#148;). If any Award
expires or is terminated, surrendered or canceled without having been fully
exercised or is forfeited in whole or in part or results in any Common Stock
not being issued, the unused Common Stock covered by such Award shall again be
available for the grant of Awards under the Plan, subject, however, in the case
of Incentive Stock Options (as hereinafter defined), to any limitation required
under the Code. Shares issued under the Plan may consist in whole or in part
of authorized but unissued shares or treasury shares.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Per-Participant Limit</U>. Subject to adjustment under Section&nbsp;8,
for Awards granted after the Common Stock is registered under the Securities
Exchange Act of 1934 (the &#147;Exchange Act&#148;), the maximum number of shares of
Common Stock with respect to which an Award may be granted to any Participant
under the Plan shall be 3,600,000 per calendar year. The per-Participant limit
described in this Section 4(b) shall be construed and applied consistently with
Section 162(m) of the Code.


<P align="left" style="font-size: 10pt">5.&nbsp;&nbsp;&nbsp; <U>Stock Options</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>. The Board may grant options to purchase Common Stock
(each, an &#147;Option&#148;) and determine the number of shares of Common Stock to be
covered by each Option, the exercise price of each Option and the conditions
and limitations applicable to the exercise of each Option, including conditions
relating to applicable federal or state securities laws, as it considers
necessary or advisable. An Option which is not intended to be an Incentive
Stock Option (as hereinafter defined) shall be designated a &#147;Nonstatutory Stock
Option.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Incentive Stock Options</U>. An Option that the Board intends to
be an &#147;incentive stock option&#148; as defined in Section&nbsp;422 of the Code (an
&#147;Incentive Stock Option&#148;) shall only be granted to employees of the Company and
shall be subject to and shall be construed consistently with the requirements
of Section&nbsp;422 of the Code. The Company shall have no liability to a
Participant, or any other party, if an Option (or any part thereof) which is
intended to be an Incentive Stock Option is not an Incentive Stock Option.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise Price</U>. The Board shall establish the exercise price
at the time each Option is granted and specify it in the applicable option
agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Duration of Options</U>. Each Option shall be exercisable at such
times and subject to such terms and conditions as the Board may specify in the
applicable option agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise of Option</U>. Options may be exercised by delivery to
the Company of a written notice of exercise signed by the proper person or by
any other form of notice (including electronic notice) approved by the Board
together with payment in full as specified in Section 5(f) for the number of
shares for which the Option is exercised.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment Upon Exercise.</U> Common Stock purchased upon the
exercise of an Option granted under the Plan shall be paid for as follows:



<P align="left" style="margin-left:5%; font-size: 10pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;in cash or by check, payable to the order of the Company;



<P align="left" style="margin-left:5%; font-size: 10pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;except as the Board may, in its sole discretion, otherwise
provide in an option agreement, by (i)&nbsp;delivery of an irrevocable
and unconditional undertaking by a


<P align="center" style="font-size: 10pt">B-5
</DIV>

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<P align="left" style="margin-left:5%; font-size: 10pt">creditworthy broker to deliver
promptly to the Company sufficient funds to pay the exercise price
or (ii)&nbsp;delivery by the Participant to the Company of a copy of
irrevocable and unconditional instructions to a creditworthy broker
to deliver promptly to the Company cash or a check sufficient to
pay the exercise price;



<P align="left" style="margin-left:5%; font-size: 10pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;when the Common Stock is registered under the Exchange Act, by
delivery of shares of Common Stock owned by the Participant valued
at their fair market value as determined by (or in a manner
approved by) the Board in good faith (&#147;Fair Market Value&#148;), which
Common Stock was owned by the Participant at least six months prior
to such delivery;



<P align="left" style="margin-left:5%; font-size: 10pt">(4)&nbsp;&nbsp;&nbsp;&nbsp;to the extent permitted by the Board, in its sole discretion by
(i)&nbsp;delivery of a promissory note of the Participant to the Company
on terms determined by the Board, or (ii)&nbsp;payment of such other
lawful consideration as the Board may determine; or



<P align="left" style="margin-left:5%; font-size: 10pt">(5)&nbsp;&nbsp;&nbsp;&nbsp;by any combination of the above permitted forms of payment.


<P align="left" style="font-size: 10pt">6. &nbsp;&nbsp;&nbsp;<U>Restricted Stock</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Grants</U>. The Board may grant Awards entitling recipients to acquire
shares of Common Stock, subject to the right of the Company to repurchase all
or part of such shares at their issue price or other stated or formula price
(or to require forfeiture of such shares if issued at no cost) from the
recipient in the event that conditions specified by the Board in the applicable
Award are not satisfied prior to the end of the applicable restriction period
or periods established by the Board for such Award (each, a &#147;Restricted Stock
Award&#148;).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Terms and Conditions</U>. The Board shall determine the terms and
conditions of any such Restricted Stock Award, including the conditions for
repurchase (or forfeiture) and the issue price, if any. Any stock certificates
issued in respect of a Restricted Stock Award shall be registered in the name
of the Participant and, unless otherwise determined by the Board, deposited by
the Participant, together with a stock power endorsed in blank, with the
Company (or its designee). At the expiration of the applicable restriction
periods, the Company (or such designee) shall deliver the certificates no
longer subject to such restrictions to the Participant or if the Participant
has died, to the beneficiary designated, in a manner determined by the Board,
by a Participant to receive amounts due or exercise rights of the Participant
in the event of the Participant&#146;s death (the &#147;Designated Beneficiary&#148;). In the
absence of an effective designation by a Participant, Designated Beneficiary
shall mean the Participant&#146;s estate.


<P align="left" style="font-size: 10pt">7.&nbsp;&nbsp;&nbsp; <U>Other Stock-Based Awards</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board shall have the right to grant other Awards based upon the Common
Stock having such terms and conditions as the Board may determine, including
the grant of shares based upon certain conditions, the grant of securities
convertible into Common Stock and the grant of stock appreciation rights.


<P align="left" style="font-size: 10pt">8. &nbsp;&nbsp;&nbsp;<U>Adjustments for Changes in Common Stock and Certain Other Events</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Changes in Capitalization</U>. In the event of any stock split,
reverse stock split, stock dividend, recapitalization, combination of shares,
reclassification of shares, spin-off or other similar change in capitalization
or event, or any distribution to holders of Common Stock other than a normal
cash dividend, (i)&nbsp;the number and class of securities available under this
Plan, (ii)&nbsp;the per-Participant limit


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<P align="left" style="font-size: 10pt">set forth in Section&nbsp;4(b), (iii)&nbsp;the
number and class of securities and exercise price per share subject to each
outstanding Option, (iv)&nbsp;the repurchase price per share subject to each
outstanding Restricted Stock Award, and (v)&nbsp;the terms of each other outstanding
Award shall be appropriately adjusted by the Company (or substituted Awards may
be made, if applicable) to the extent the Board shall determine, in good faith,
that such an adjustment (or substitution) is necessary and appropriate. If
this Section 8(a) applies and Section 8(c) also applies to any event, Section
8(c) shall be applicable to such event, and this Section 8(a) shall not be
applicable.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Liquidation or Dissolution</U>. In the event of a proposed
liquidation or dissolution of the Company, the Board shall upon written notice
to the Participants provide that all then unexercised Options will (i)&nbsp;become
exercisable in full as of a specified time at least 10 business days prior to
the effective date of such liquidation or dissolution and (ii)&nbsp;terminate
effective upon such liquidation or dissolution, except to the extent exercised
before such effective date. The Board may specify the effect of a liquidation
or dissolution on any Restricted Stock Award or other Award granted under the
Plan at the time of the grant of such Award.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Acquisition and Change in Control Events



<P align="left" style="margin-left:6%; font-size: 10pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;Definitions



<P align="left" style="margin-left:9%; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;An &#147;Acquisition Event&#148; shall mean:



<P align="left" style="margin-left:12%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp; any merger or consolidation of the Company with or
into another entity as a result of which the Common Stock
is converted into or exchanged for the right to receive
cash, securities or other property; or



<P align="left" style="margin-left:12%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp; any exchange of shares of the Company for cash,
securities or other property pursuant to a statutory share
exchange transaction.



<P align="left" style="margin-left:9%; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;A &#147;Change in Control Event&#148; shall
mean:



<P align="left" style="margin-left:12%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp; any merger or consolidation which results in the
voting securities of the Company outstanding immediately
prior thereto representing immediately thereafter (either
by remaining outstanding or by being converted into voting
securities of the surviving or acquiring entity) less than
50% of the combined voting power of the voting securities
of the Company or such surviving or acquiring entity
outstanding immediately after such merger or consolidation;



<P align="left" style="margin-left:12%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp; the acquisition by an individual, entity or group
(within the meaning of Section&nbsp;13(d)(3) or 14(d)(2) of the
Exchange Act) (a &#147;Person&#148;) of beneficial ownership of any
capital stock of the Company if, after such acquisition,
such Person beneficially owns (within the meaning of Rule
13d-3 promulgated under the Exchange Act) 50% or more of
either (A)&nbsp;the then-outstanding shares of Common Stock of
the Company (the &#147;Outstanding Company Common Stock&#148;) or (B)
the combined voting power of the then-outstanding voting
securities of the Company entitled to vote generally in the
election of directors (the &#147;Outstanding Company Voting
Securities&#148;); <U>provided</U>, however, that for purposes
of this subsection (ii), the following acquisitions shall
not constitute a Sale: (A)&nbsp;any acquisition directly from
the Company, (B)&nbsp;any acquisition by the Company, (C)&nbsp;any
acquisition by any employee benefit plan (or related trust)
sponsored or maintained by the


<P align="center" style="font-size: 10pt">B-7
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<P align="left" style="margin-left:12%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Company or any corporation
controlled by the Company, or (D)&nbsp;any acquisition by any
corporation pursuant to a transaction which results in all
or substantially all of the individuals and entities who
were the beneficial owners of the Outstanding Company
Common Stock and Outstanding Company Voting Securities
immediately prior to such transaction beneficially own,
directly or indirectly, more than 50% of the
then-outstanding shares of common stock and the combined
voting power of the then-outstanding voting securities
entitled to vote generally in the election of directors,
respectively, of the resulting or acquiring corporation in
such transaction (which shall include, without limitation,
a corporation which as a result of such transaction owns
the Company or substantially all of the Company&#146;s assets
either directly or through one or more subsidiaries) in
substantially the same proportions as their ownership,
immediately prior to such transaction, of the Outstanding
Company Common Stock and Outstanding Company Voting
Securities, respectively;



<P align="left" style="margin-left:12%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp; any sale of all or substantially all of the
assets of the Company; or



<P align="left" style="margin-left:12%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp; the complete liquidation of the Company.



<P align="left" style="margin-left:6%; font-size: 10pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;Effect on Options



<P align="left" style="margin-left:9%; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp; <U>Acquisition Event</U>. Upon the
occurrence of an Acquisition Event (regardless of
whether such event also constitutes a Change in Control
Event), or the execution by the Company of any agreement
with respect to an Acquisition Event (regardless of
whether such event will result in a Change in Control
Event), the Board shall provide that all outstanding
Options shall be assumed, or equivalent options shall be
substituted, by the acquiring or succeeding corporation
(or an affiliate thereof); <U>provided</U> <U>that</U>
if such Acquisition Event also constitutes a Change in
Control Event, except to the extent specifically
provided to the contrary in the instrument evidencing
any Option or any other agreement between a Participant
and the Company, such assumed or substituted options
shall be immediately exercisable in full upon the
occurrence of such Acquisition Event. For purposes
hereof, an Option shall be considered to be assumed if,
following consummation of the Acquisition Event, the
Option confers the right to purchase, for each share of
Common Stock subject to the Option immediately prior to
the consummation of the Acquisition Event, the
consideration (whether cash, securities or other
property) received as a result of the Acquisition Event
by holders of Common Stock for each share of Common
Stock held immediately prior to the consummation of the
Acquisition Event (and if holders were offered a choice
of consideration, the type of consideration chosen by
the holders of a majority of the outstanding shares of
Common Stock); provided, however, that if the
consideration received as a result of the Acquisition
Event is not solely common stock of the acquiring or
succeeding corporation (or an


<P align="center" style="font-size: 10pt">B-8
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<P align="left" style="margin-left:9%; font-size: 10pt">affiliate thereof), the
Company may, with the consent of the acquiring or
succeeding corporation, provide for the consideration to
be received upon the exercise of Options to consist
solely of common stock of the acquiring or succeeding
corporation (or an affiliate thereof) equivalent in fair
market value to the per share consideration received by
holders of outstanding shares of Common Stock as a
result of the Acquisition Event.



<P align="left" style="margin-left:9%; font-size: 10pt">Notwithstanding the foregoing, if the acquiring or
succeeding corporation (or an affiliate thereof) does
not agree to assume, or substitute for, such Options,
then the Board shall, upon written notice to the
Participants, provide that all then unexercised Options
will become exercisable in full as of a specified time
prior to the Acquisition Event and will terminate
immediately prior to the consummation of such
Acquisition Event, except to the extent exercised by
the Participants before the consummation of such
Acquisition Event; provided, however, in the event of
an Acquisition Event under the terms of which holders
of Common Stock will receive upon consummation thereof
a cash payment for each share of Common Stock
surrendered pursuant to such Acquisition Event (the
&#147;Acquisition Price&#148;), then the Board may instead
provide that all outstanding Options shall terminate
upon consummation of such Acquisition Event and that
each Participant shall receive, in exchange therefor, a
cash payment equal to the amount (if any) by which (A)
the Acquisition Price multiplied by the number of shares of Common Stock subject to such outstanding
Options (whether or not then exercisable), exceeds (B)
the aggregate exercise price of such Options.



<P align="left" style="margin-left:9%; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp; <U>Change in Control Event that is
not an Acquisition Event</U>. Upon the occurrence of a
Change in Control Event that does not also constitute an
Acquisition Event, except to the extent specifically
provided to the contrary in the instrument evidencing
any Option or any other agreement between a Participant
and the Company, all Options then-outstanding shall
automatically become immediately exercisable in full.


<P align="left" style="margin-left:6%; font-size: 10pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;Effect on Restricted Stock Awards




<P align="left" style="margin-left:9%; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp; <U>Acquisition Event that is not a
Change in Control Event</U>. Upon the occurrence of an
Acquisition Event that is not a Change in Control Event,
the repurchase and other rights of the Company under
each outstanding Restricted Stock Award shall inure to
the benefit of the Company&#146;s successor and shall apply
to the cash, securities or other property which the
Common Stock was converted into or exchanged for
pursuant to such Acquisition Event in the same manner
and to the same extent as they applied to the Common
Stock subject to such Restricted Stock Award.



<P align="left" style="margin-left:9%; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp; <U>Change in Control Event</U>. Upon
the occurrence of a Change in Control Event (regardless
of whether such event also constitutes an Acquisition
Event), except to the extent specifically provided to
the contrary in the instrument evidencing any Restricted
Stock Award or any other agreement between a Participant
and the Company, all restrictions and conditions on all
Restricted Stock Awards then-outstanding shall
automatically be deemed terminated or satisfied.


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<P align="left" style="margin-left:6%; font-size: 10pt">(4)&nbsp;&nbsp;&nbsp;&nbsp;Effect on Other Awards




<P align="left" style="margin-left:9%; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp; <U>Acquisition Event that is not a
Change in Control Event</U>. The Board shall specify the
effect of an Acquisition Event that is not a Change in
Control Event on any other Award granted under the Plan
at the time of the grant of such Award.



<P align="left" style="margin-left:9%; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp; <U>Change in Control Event</U>. Upon
the occurrence of a Change in Control Event (regardless
of whether such event also constitutes an Acquisition
Event), except to the extent specifically provided to
the contrary in the instrument evidencing any other
Award or any other agreement between a Participant and
the Company, all other Awards shall become exercisable,
realizable or vested in full, or shall be free of all
conditions or restrictions, as applicable to each such
Award.<U></U>


<P align="left" style="font-size: 10pt">9.&nbsp;&nbsp;&nbsp; <U>General Provisions Applicable to Awards</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability of Awards</U>. Except as the Board may otherwise
determine or provide in an Award, Awards shall not be sold, assigned,
transferred, pledged or otherwise encumbered by the person to whom they are
granted, either voluntarily or by operation of law, except by will or the laws
of descent and distribution, and, during the life of the Participant, shall be
exercisable only by the Participant. References to a Participant, to the
extent relevant in the context, shall include references to authorized
transferees.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Documentation</U>. Each Award shall be evidenced by a written
instrument in such form as the Board shall determine. Each Award may contain
terms and conditions in addition to those set forth in the Plan.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Board Discretion</U>. Except as otherwise provided by the Plan,
each Award may be made alone or in addition or in relation to any other Award.
The terms of each Award need not be identical, and the Board need not treat
Participants uniformly.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination of Status</U>. The Board shall determine the effect on
an Award of the disability, death, retirement, authorized leave of absence or
other change in the employment or other status of a Participant and the extent
to which, and the period during which, the Participant, the Participant&#146;s legal
representative, conservator, guardian or Designated Beneficiary may exercise
rights under the Award.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding</U>. Each Participant shall pay to the Company, or
make provision satisfactory to the Board for payment of, any taxes required by
law to be withheld in connection with Awards to such Participant no later than
the date of the event creating the tax liability. Except as the Board may
otherwise provide in an Award, when the Common Stock is registered under the
Exchange Act, Participants may satisfy such tax obligations in whole or in part
by delivery of shares of Common Stock, including shares retained from the Award
creating the tax obligation, valued at their Fair Market Value. The Company
may, to the extent permitted by law, deduct any such tax obligations from any
payment of any kind otherwise due to a Participant.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment of Award</U>. The Board may amend, modify or terminate
any outstanding Award, including but not limited to, substituting therefor
another Award of the same or a different type, changing the date of exercise or
realization, and converting an Incentive Stock Option to a Nonstatutory Stock
Option, provided that the Participant&#146;s consent to such action shall be
required unless the Board


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<P align="left" style="font-size: 10pt">determines that the action, taking into account any
related action, would not materially and adversely affect the Participant.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions on Delivery of Stock</U>. The Company will not be
obligated to deliver any shares of Common Stock pursuant to the Plan or to
remove restrictions from shares previously delivered under the Plan until (i)
all conditions of the Award have been met or removed to the satisfaction of the
Company, (ii)&nbsp;in the opinion of the Company&#146;s counsel, all other legal matters
in connection with the issuance and delivery of such shares have been
satisfied, including any applicable securities laws and any applicable stock
exchange or stock market rules and regulations, and (iii)&nbsp;the Participant has
executed and delivered to the Company such representations or agreements as the
Company may consider appropriate to satisfy the requirements of any applicable
laws, rules or regulations.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;<U>Acceleration</U>. The Board may at any time provide that any
Options shall become immediately exercisable in full or in part, that any
Restricted Stock Awards shall be free of restrictions in full or in part or
that any other Awards may become exercisable in full or in part or free of some
or all restrictions or conditions, or otherwise realizable in full or in part,
as the case may be.


<P align="left" style="font-size: 10pt">10.&nbsp;&nbsp;&nbsp; <U>Miscellaneous</U>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>No Right To Employment or Other Status</U>. No person shall have
any claim or right to be granted an Award, and the grant of an Award shall not
be construed as giving a Participant the right to continued employment or any
other relationship with the Company. The Company expressly reserves the right
at any time to dismiss or otherwise terminate its relationship with a
Participant free from any liability or claim under the Plan, except as
expressly provided in the applicable Award.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>No Rights As Stockholder</U>. Subject to the provisions of the
applicable Award, no Participant or Designated Beneficiary shall have any
rights as a stockholder with respect to any shares of Common Stock to be
distributed with respect to an Award until becoming the record holder of such
shares. Notwithstanding the foregoing, in the event the Company effects a
split of the Common Stock by means of a stock dividend and the exercise price
of and the number of shares subject to such Option are adjusted as of the date
of the distribution of the dividend (rather than as of the record date for such
dividend), then an optionee who exercises an Option between the record date and
the distribution date for such stock dividend shall be entitled to receive, on
the distribution date, the stock dividend with respect to the shares of Common
Stock acquired upon such Option exercise, notwithstanding the fact that such
shares were not outstanding as of the close of business on the record date for
such stock dividend.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective Date and Term of Plan</U>. The Plan shall become
effective on the date on which it is adopted by the Board. No Awards shall be
granted under the Plan after the completion of ten years from the earlier of
(i)&nbsp;the date on which the Plan was adopted by the Board or (ii)&nbsp;the date the
Plan was approved by the Company&#146;s stockholders, but Awards previously granted
may extend beyond that date.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment of Plan</U>. The Board may amend, suspend or terminate
the Plan or any portion thereof at any time.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. The provisions of the Plan and all Awards made
hereunder shall be governed by and interpreted in accordance with the laws of
the State of Delaware, without regard to any applicable conflicts of law.



<P align="center" style="font-size: 10pt">B-11
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    <TD>&nbsp;</TD>
    <TD align="center" valign="top">DETACH HERE
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    <TD align="right" valign="top">ZAKIC2</TD>
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<P align="center" style="font-size: 20pt"><B>AKAMAI TECHNOLOGIES, INC.</B>



<P align="center" style="font-size: 10pt"><B>PROXY SOLICITED BY THE BOARD OF DIRECTORS</B>



<P align="center" style="font-size: 10pt"><B>Annual Meeting of Stockholders &#151; May&nbsp;25, 2004</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Those signing on the reverse side, revoking any prior proxies, hereby appoint(s)
George H. Conrades, Paul Sagan and Melanie Haratunian, or each of them with full
power of substitution, as proxies for those signing on the reverse side to act
and vote at the 2004 Annual Meeting of Stockholders of Akamai Technologies, Inc.
and any adjournments thereof as indicated upon all matters referred to on the
reverse side and described in the Proxy Statement for the Meeting, and, in their
discretion, upon any other matters which may properly come before the Meeting.


<P align="left" style="font-size: 10pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Proxy when properly executed will be voted in the manner directed by the
Undersigned Stockholder(s). If no other indication is made, the Proxies shall
vote &#147;FOR&#148; Proposals 1, 2 and 3.</B>



<P align="center" style="font-size: 10pt"><B>PLEASE VOTE, DATE AND SIGN ON OTHER SIDE<BR>
AND RETURN PROMPTLY IN ENCLOSED ENVELOPE</B>


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    <TD valign="top"><FONT size="2">HAS YOUR ADDRESS CHANGED?</FONT></TD>
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    <TD align="left" valign="top"><FONT size="2">
DO YOU HAVE ANY COMMENTS?</FONT></TD>
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<TR>
    <TD valign="top"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
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</CENTER>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="center" valign="top" style="border: 1px solid black"><B>SEE REVERSE<BR>
SIDE</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>CONTINUED AND TO BE SIGNED ON REVERSE SIDE</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top" style="border: 1px solid black"><B>SEE REVERSE<BR>
SIDE</B></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 12pt"><B>AKAMAI TECHNOLOGIES, INC.</B>


<P align="left" style="font-size: 10pt"><B>C/O EQUISERVE TRUST COMPANY, N.A.<BR>
P.O. BOX 8694<BR>
EDISON, NJ 08818-8694</B>

<P>&nbsp;
<P>&nbsp;
<P>&nbsp;
<P>&nbsp;
<P>&nbsp;
<P>&nbsp;
<P>&nbsp;

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">DETACH HERE
</TD>
    <TD align="right" valign="top">ZAKIC1</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="middle"><DIV style="margin-left:0px; text-indent:-0px; font-size: 20pt">
<FONT face="Wingdings">x</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Please mark<BR>
votes as in<BR>
this example.</B>
</TD>

<TD style="border-left: 2px solid black; border-bottom: 2px solid black">&nbsp;</TD>
    <TD align="left" valign="middle"><B>#AKI</B></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><B>A vote FOR the director nominees and FOR proposal numbers 2 and 3 is recommended
by the Board of Directors.</B>


<P><DIV style="position: relative; float: left; margin-right: 1%; width: 49%">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">1.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Election of Class&nbsp;II Directors.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Nominees:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(01) Ronald Graham<br>
(02)&nbsp;F. Thomson Leighton<br>
(03)&nbsp;Naomi Seligman<br></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">FOR<BR>
BOTH<BR>
NOMINEES
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">WITHHELD<BR>
FROM BOTH<BR>
NOMINEES
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 20pt"><FONT face="Wingdings">&#111;
</FONT>
<HR noshade size="1" width="100%" align="left">


<div align="left" style="font-size: 10pt">INSTRUCTIONS: To withhold authority to vote for either nominee write the
nominee&#146;s name on the line above. Your shares will be voted for the remaining
nominee.
</DIV>

</DIV>

<DIV style="position: relative; float: right; margin-left: 1%; width: 49%">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="64%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">FOR
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">AGAINST
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">ABSTAIN</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Approval of an amendment to the Second Amended
and Restated 1998 Stock Incentive Plan.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Approval of the selection of PricewaterhouseCoopers
LLP as independent auditors for the fiscal year
ending December&nbsp;31, 2004.
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle" style="font-size: 20pt"><FONT face="Wingdings">&#111;</FONT></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">To transact such other business as may properly come before the meeting.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD nowrap align="center" valign="top">MARK HERE<BR>
FOR ADDRESS CHANGE<BR>
OR COMMENTS<BR>
AND NOTE ON REVERSE
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle" style="font-size: 20pt">
<FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">MARK HERE<BR>
IF YOU PLAN<BR>
TO ATTEND<BR>
THE MEETING
</TD>
    <TD align="left" valign="middle" style="font-size: 20pt">
<FONT face="Wingdings">&#111;</FONT></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">Please sign this proxy exactly as your name appears hereon. Joint owners should
each sign personally. Trustees and other fiduciaries should indicate the
capacity in which they sign. If a corporation or partnership, this signature
should be that of an authorized officer who should state his or her title.
</DIV>
<BR clear="all"><BR>



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
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    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap valign="top">Signature:&nbsp;
</TD>
    <TD align="left" valign="top" style="border-bottom: 1px solid black">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Date:&nbsp;
</TD>
    <TD align="left" valign="top" style="border-bottom: 1px solid black">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Signature:&nbsp;
</TD>
    <TD align="left" valign="top" style="border-bottom: 1px solid black">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Date:&nbsp;
</TD>
    <TD align="left" valign="top" style="border-bottom: 1px solid black">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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