***PERFORMANCE      SHARE AWARD AGREEMENT***

**UNDER      THE**

**EXPRESS      SCRIPTS, INC. **

**2000      LONG-TERM INCENTIVE PLAN**

**THIS      AWARD AGREEMENT**

**BACKGROUND**

|   | A. | The                Board of Directors of the Company (the "Board of Directors") has                adopted,                and the Company's shareholders have approved, the Express Scripts,                Inc.                2000 Long-Term Incentive Plan (the "Plan"), pursuant to which performance                share incentive awards may be granted to employees of the Company                and its                subsidiaries and certain other                individuals. |
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|   | B. | The                Board of Directors intends to amend the Plan, subject to approval                of the                shareholders of the Company, to revise the performance measures                thereunder. |
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|   | C. | The                Company desires to grant to Employee a performance share award under                the                terms of the Plan. |
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**AGREEMENT**

|   |   | 1. | **Grant                of Award****.**Pursuant                to action of the Committee (as defined herein) which was taken on                the Date                of Grant, the Company grants to Employee «Shares»                performance shares ("Performance Shares"), subject to the terms,                conditions, and adjustments set forth in this Award Agreement and                Exhibit                A hereto. The Performance Shares granted under this Section 1 are                referred                to in this Award Agreement as the "Target                Grant." |
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|   |   | 2. | **Award                Subject to Plan****.**This                award is granted under, and is expressly subject to, the terms and                provisions of the Plan, as amended from time to time, which terms                are                incorporated herein by reference, and this Award Agreement. The Committee                described in Section 3 of the Plan (the "Committee") has been appointed                by                the Board of Directors, and designated by it, as the Committee to                make                awards. This award is subject to the Company’s stockholders approving an                amendment to the Plan to reflect the performance measures used hereunder                before any compensation is paid pursuant to this award. In the event                that                the stockholders of the Company do not so approve an amendment to                the                Plan, this award shall be void and of no force and                effect. |
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|   |   | 3. | **Performance                Period**.                The performance period for this award shall be as set forth on Exhibit                A                hereto (the "Performance Period"). |
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|   |   | 4. | **Payment****.**                Subject to early termination of this Award Agreement pursuant to                Section 6                below, following the end of the Performance Period and during the                calendar                year in which such Performance Period ends, the Company will deliver                to                Employee one share of the Company's Stock for each then-outstanding                Performance Share under this Award Agreement; except that, fractional                Shares shall be rounded down to the nearest whole Share and that                a portion                of the payment shall be withheld to satisfy the payment of taxes                required                by law or to take such other action as may be necessary in the opinion                of                the Company to satisfy all obligations for withholding of such taxes                as                provided in Section 7.  |
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|   |   | 5.  | **Performance Criteria and Adjustments.**The              Target Grant shall be adjusted pursuant to the Company’s performance              against certain criteria (the “Performance Criteria”) as further set out              on Exhibit A hereto. |
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|   |   | 6. | **Termination                of Award****.**  |
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|   | 7. | **Tax                Withholding****.**Employee                must pay, or make arrangements acceptable to the Company for the                payment                of, any and all federal, state, and local income and payroll tax                withholding that in the opinion of the Company is required by law.                Unless                Employee satisfies any such tax withholding obligation by paying                the                amount in cash or by check, the Company will withhold cash and/or                shares                of Stock having a Fair Market Value on the date of withholding sufficient                to cover the withholding                obligation. |
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|   |   | 8. | **Non-Transferability****.**                Neither this award nor any rights under this Award Agreement may                be                assigned, transferred, or in any manner encumbered except by will                or the                laws of descent and distribution, and any attempted assignment, transfer,                mortgage, pledge or encumbrance except as herein authorized, will                be void                and of no effect. |
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|   |   | 9. | **Definitions:                Copy of Plan and Plan Prospectus****.**                To                the extent not specifically defined in this Award Agreement, all                capitalized terms used in this Award Agreement will have the same                meanings                ascribed to them in the Plan. By signing this Award Agreement, Employee                acknowledges receipt of a copy of the Plan and the related Plan                Prospectus. |
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|   |   | 10. | **Choice                of Law****.**                To                the extent that federal laws do not otherwise control, this Award                Agreement and all determinations made and actions taken hereunder                shall be                governed by the laws of the State of Delaware, without giving effect                to                principles of conflicts of laws, and construed accordingly. |
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