Document:

exv4w3

Exhibit 4.3

JABIL CIRCUIT, INC.

OFFICERS’ CERTIFICATE PURSUANT TO

SECTIONS 1.2, 3.1 AND 3.3 OF THE INDENTURE

     We, the undersigned, being respectively the President and the Chief Financial Officer of Jabil
Circuit, Inc., a corporation duly organized and existing under the laws of the State of Delaware
(the “Company”), hereby certify to The Bank of New York Mellon Trust Company, N.A., a national
banking association, as trustee (the “Trustee”), pursuant to and in accordance with Sections 1.2,
3.1 and 3.3 of the Indenture, dated as of January 16, 2008 (the “Indenture”), between the Company
and the Trustee, that:

	(1)	 	The issuance of securities under the series designated as 5.625% Senior Notes due 2020, in an
aggregate principal amount of $400,000,000 (the “Notes”), has been approved and authorized in
accordance with the provisions of the Indenture pursuant to resolutions duly adopted by (i)
the Board of Directors of the Company at a meeting held on October 22-23, 2008 and (ii) the
Pricing Committee of the Board of Directors of the Company at a meeting held on October 28,
2010, all such resolutions are attached hereto as Exhibit A, and by this Officers’
Certificate, dated November 2, 2010, relating to the Notes. The resolutions referred to in
this paragraph are in full force and effect on the date hereof.
	 
	(2)	 	To the best of our knowledge, no event which is, or after notice or lapse of time would
become, an Event of Default with respect to any of the Notes has occurred and is continuing.
	 
	(3)	 	The terms of the Notes shall be as follows:

	 	(i)	 	The title of the Notes shall be “5.625% Senior Notes due 2020.”
	 
	 	(ii)	 	The Notes are to be issued in registered form. The Notes are to be issued
initially in an aggregate principal amount of $400,000,000; provided however, that the
aggregate principal amount of the Notes that may be outstanding may be increased by the
Company upon the terms and subject to the conditions set forth in the Indenture and the
Notes. The Notes are to be issued initially in global form, as further set forth in
Annex I hereto. Beneficial owners of interests in the Notes may exchange such
interests in accordance with the Indenture and the terms of the Notes, and as further
set forth in Annex I.
	 
	 	(iii)	 	The Notes will mature on December 15, 2020.
	 
	 	(iv)	 	The Notes will bear interest at a rate of 5.625% per annum.
	 
	 	(v)	 	The date from which interest shall accrue, the Interest Payment Dates on which
interest shall be payable and the Regular Record Date for the interest payable on any
Interest Payment Date will be as set forth in the Specimen Note attached as Exhibit
B (the “Specimen Note”).
	 
	 	(vi)	 	Principal, premium, if any, and interest on the Notes are payable at the
corporate trust office of the Trustee located at 101 Barclay Street, Floor 7 West, New
York,

 

 

	 	 	 	NY 10286, except as otherwise provided in the Specimen Note.

	 	(vii)	 	The Notes are issuable in minimum denominations of $2,000 and integral
multiples of $1,000 in excess thereof.
	 
	 	(viii)	 	The Notes are subject to redemption at the option of the Company, as set forth in the
Specimen Note.
	 
	 	(ix)	 	The Notes will not be subject to any sinking fund or analogous provision.
	 
	 	(x)	 	The provisions in the Indenture relating to defeasance and covenant defeasance
shall apply to the Notes.
	 
	 	(xi)	 	The “Depository” with respect to the Notes will initially be The Depository
Trust Company (“DTC”).
	 
	 	(xii)	 	Interest on the Notes will be computed and paid on the basis of a 360-day year
of twelve 30-day months.
	 
	 	(xiii)	 	References herein to principal, premium, if any, and interest payable on the Notes
shall include any Successor Additional Amount payable pursuant to Section 8.1(b) of the
Indenture.
	 
	 	(xiv)	 	The Notes are not convertible into shares of Common Stock of the Company or
exchangeable for other securities.

     Capitalized terms used herein and not otherwise defined herein have the meanings specified in
the Indenture or the Specimen Note. The foregoing terms of the Notes are qualified by the complete
text of the Specimen Note and Annex I, which are attached hereto and incorporated herein by
reference.

     Each of the undersigned has read all of the conditions relating to the execution,
authentication and delivery of the Notes contained in the Indenture and the definitions therein
relating thereto, has read the certified copies of the board and committee resolutions attached
hereto and has examined the Specimen Note attached hereto. In the opinion of each of the
undersigned he has made such examination or investigation as is necessary to enable him to express
an informed opinion as to whether or not all such conditions precedent have been complied with and,
in the opinion of each of the undersigned, all such conditions precedent have been complied with.

     Insofar as this certificate relates to legal matters, it is based, as provided for in Section
1.3 of the Indenture, upon the Opinion of Counsel delivered to the Trustee contemporaneously
herewith pursuant to Section 3.3 of the Indenture and relating to the Notes.

 

 

     IN WITNESS WHEREOF, we have signed our names as of this 2nd day of November, 2010.

	 	 	 	 	 
	 	 	 
	 	/s/ Timothy L. Main
 	 
	 	Name:  	Timothy L. Main 	 
	 	Title:  	President 	 
	 
	 	 	 
	 	/s/ Forbes I.J. Alexander
 	 
	 	Name:  	Forbes I.J. Alexander 	 
	 	Title:  	Chief Financial Officer 	 

 

 

	 	 	 	 	 

Annex I

	(1)	 	Issuance of Notes.

	 	(i)	 	The Notes shall be in substantially the form set forth in Exhibit B
hereto, with appropriate inclusions and exclusions set forth therein depending on
whether such Note is a Global Note (as defined below) or a certificated Note issued in
exchange therefor pursuant to Section 3.5 of the Indenture (a “Certificated Note”) and
shall be issued in the form hereinafter provided. Global Notes shall include the
legend thereon as indicated on Exhibit B (the “Global Note Legend”), and the
“Schedule of Increases and Decreases in Global Note” attached thereto. Certificated
Notes shall be issued without the Global Note Legend thereon and without the “Schedule
of Increases and Decreases in Global Note” attached thereto. Each Global Note shall
represent the aggregate principal amount of the outstanding Notes as shall be specified
therein and shall provide that it shall represent the aggregate principal amount of
outstanding Notes from time to time endorsed thereon and that the aggregate principal
amount of outstanding Notes represented thereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a
Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby shall be made by the Trustee,
in accordance with instructions given by the Holder thereof as required hereby. The
terms and provisions contained in the Notes shall constitute and are hereby expressly
made a part of the Indenture, and the Company and the Trustee by their execution and
delivery of the Indenture expressly agree to such terms and provisions and to be bound
thereby.
	 
	 	(ii)	 	The aggregate principal amount of Global Notes may from time to time be
increased or decreased by adjustments made on the records of the Trustee, as custodian
for the Depository or its nominee, as hereinafter provided. The Depository shall be
The Depository Trust Company (“DTC”) unless the Company appoints a successor depository
by delivery of a Company Order to the Trustee specifying such successor depository.

	(2)	 	Transfer and Exchange.

	 	(i)	 	Sale or Transfer of Notes to the Company or its Subsidiaries. Nothing in
this Officers’ Certificate or the Notes shall prohibit the sale or other transfer of any
Notes (including beneficial interests in the Global Notes) to the Company or any of its
Subsidiaries, which Notes shall thereupon be canceled in accordance with Section 3.9 of
the Indenture.
	 
	 	(ii)	 	Cancellation and/or Adjustment of Global Notes. At such time as all
beneficial interests in a particular Global Note have been exchanged for Certificated
Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and
not in part, each such Global Note shall be returned to or retained and canceled by the
Trustee in accordance with Section 3.9 of the Indenture. At any time prior to such

Annex I-1

 

	 	 	 	cancellation, if any beneficial interest in a Global Note is exchanged for or
transferred to a Person who will take delivery thereof in the form of a beneficial
interest in another Global Note or for Certificated Notes, the principal amount of
Notes represented by such Global Note shall be reduced accordingly and an endorsement
shall be made on such Global Note, by the Trustee or by the Depository at the direction
of the Trustee, to reflect such reduction; and if the beneficial interest is being
exchanged for or transferred to a Person who will take delivery thereof in the form of
a beneficial interest in another Global Note, such other Global Note shall be increased
accordingly and an endorsement shall be made on such Global Note, by the Trustee or by
the Depository at the direction of the Trustee, to reflect such increase.

Annex I-2

 

Exhibit A

Resolutions of the Pricing Committee

Exh. A-1

 

Exhibit B

Form of Note

Exh. B-1exv10w1

Exhibit 10.1

PERSONAL & CONFIDENTIAL

Kimberly Windrow

Term Sheet dated June 18, 2010

Page 1 of 3

	 	 	 

	Title & Reporting Level

	 	Vice President, Human Resources (Corporate Officer position)
	 
	 	 
	Location

	 	Pittsburgh, PA

(Relocation package per WESCO policy)
	 
	 	 
	Base Salary

	 	$325,000 annual rate paid twice monthly
	 
	 	 
	Annual Cash Bonus

	 	Zero to 100% of base salary, based on the achievement of a
combination of corporate and personal performance
objectives as established annually by the Board of
Directors. Your target bonus will be 50% of base salary.
For 2010, your bonus award will be a guaranteed minimum of
$75,000 to be paid out in 2011, assuming a start date of
August 2, 2010.
	 
	 	 
	Equity Awards

	 	Stock appreciation rights (SARs) equal to the number of
shares purchased for long-term investment within the first
twelve months of employment (up to the equivalent of two
times (2x) your annual base salary) will be granted with
the approval of the Compensation Committee of the Board of
Directors. Strike price will be set at the closing price
on the date of purchase on the open market in one or more
transactions, not to exceed three trading days. Purchase
of shares must comply with the Company’s policy regarding
insider trading. These SARs will vest ratably over three
years.
	 
	 	 
	 

	 	Initial “new executive hire” stock appreciation rights
(SARs) award of 7,500 SARs will be granted upon approval by
the Compensation Committee of the Board of Directors and
will vest ratably over three years. No additional awards
will be made in 2010.
	 
	 	 
	 

	 	Future awards are based on performance and award guidelines
established periodically by the Compensation Committee of
the Board of Directors.
	 
	 	 
	 

	 	It is expected that you achieve and maintain an ownership
position in WESCO stock equal to 2x your base salary by
2013.
	 
	 	 
	Severance

	 	In the event of the termination of your employment by WESCO
without cause, or by you for good reason, you will be
entitled to receive a severance payment equal to one year’s
base salary, plus continued coverage in all applicable
WESCO welfare benefits plans for one year, plus a pro rata
payment of your target bonus, as approved by WESCO’s
Compensation Committee, for the then current year based on
results to the date of termination, plus vesting for those
stock appreciation rights with time based vesting periods
granted in accordance with your purchase of WESCO stock.
Any and all vested stock appreciation rights will remain
exercisable for a period of 60 days following the date of
termination.
	 
	 	 
	 

	 	The severance benefits will be in lieu of any severance or
similar benefits that may otherwise be payable under any
other agreement, plan, program or policy of WESCO, and the
payment of severance benefits will be conditioned on your
execution of a release with terms and provisions as
determined by the Compensation Committee and as are
substantially consistent with past practices at WESCO.
	 
	 	 
	 

	 	Healthcare contributions will be at the active employee
rate. In the event of the termination of your employment
as a result of death or disability you will be entitled to
receive your base salary and all welfare benefits through
the date of death or disability. No severance will be paid
other than payment of your base salary through the date of
termination for termination for cause.

 

PERSONAL & CONFIDENTIAL

Kimberly Windrow

Term Sheet dated June 18, 2010

Page 2 of 3

	 	 	 	 	 

	Severance (cont.)	 	Termination For Cause shall mean termination within 30 days after we give you notice
that we believe we have cause to terminate you for:
	 
	 	 	 	 
	 

	 	    a)
	 	Engaging in a felony or engaging in conduct which is in the good faith judgment of
the Board, applying reasonable standards of personal and professional conduct,
injurious to WESCO, its customers, employees, suppliers, or shareholders;
	 
	 

	 	    b)
	 	Your inability to meet the expectations of your job responsibilities or failure to
timely and adequately perform your duties;
	 
	 

	 	    c)
	 	Material breach of any manual or written policy, code or procedure of WESCO; or
	 
	 

	 	    d)
	 	Failure to establish permanent residence in the Pittsburgh area within the first
twelve months of employment.
	 
	 	 	 	 
	 	 	In the event you are terminated by WESCO for cause on or before December 31, 2011,
WESCO may require you to repay any bonus payments received by you, and all outstanding
equity awards will be deemed forfeited.
	 
	 	 	 	 
	 	 	If such termination is with Good Reason, you shall give WESCO written notice, which
shall identify with reasonable specificity the grounds for your resignation and
provide WESCO with thirty (30) days from the day such notice is given to cure the
alleged grounds for resignation contained in the notice. A termination shall not be
for Good Reason if such notice is given by you to WESCO more than sixty (60) days
after the occurrence of the event that you allege is Good Reason for your termination
hereunder. For purposes of this Agreement, “Good Reason” shall mean any of the
following to which you shall not consent in writing:
	 
	 

	 	    a)
	 	A reduction in your Base Salary, excluding any reduction that occurs in connection
with an across-the-board reduction of the salaries of substantially the entire senior
management team;
	 
	 

	 	    b)
	 	A relocation of your primary place of employment to a location more than 50 miles
from Pittsburgh, Pennsylvania without your consent; or
	 
	 

	 	    c)
	 	Any material reduction in your offices, titles, authority, duties or
responsibilities without your consent.
	 
	 	 	 	 
	 	 	Termination by you for purposes of accepting employment with another organization or
in another location shall not be considered Good Reason.
	 
	 	 	 	 
	Non-Compete,
Non-Solicitation and
Confidentiality	 	Non-Competition and Non-Solicitation. During your employment and for a period of one
year thereafter:
	 
	 

	 	    a)
	 	You shall not directly or indirectly call upon, contact or solicit any customer or
prospective customer of WESCO or its subsidiaries (1) with whom you dealt directly or
indirectly or for which you had responsibility while employed by WESCO, or (2) about
whom you acquired confidential information during your employment with WESCO, for the
purpose of offering, selling or providing products or services that are competitive
with those then offered by WESCO or its subsidiaries. You shall not solicit or
divert, or attempt to solicit or divert, either directly or indirectly, any
opportunity or business of WESCO or its subsidiaries to any competitor.
	 
	 

	 	    b)
	 	You shall not, to the detriment of WESCO or its subsidiaries, directly or
indirectly, as an owner, partner, employee, agent, consultant, advisor, servant or
contractor, engage in or facilitate or support others to engage in the distribution of
electrical construction products or electrical and industrial maintenance, repair and
operating supplies, or the provision of integrated supply services, or any other
business that is in competition with any of the business activities of WESCO or its
subsidiaries in which you were engaged during your employment and in which WESCO or
its subsidiaries were engaged prior to the termination of your employment.

 

PERSONAL & CONFIDENTIAL

Kimberly Windrow

Term Sheet dated June 18, 2010

Page 3 of 3

	 	 	 	 	 

	Non-Compete, Non-Solicitation
and Confidentiality
(cont.)

	 	    b)
	 	(continued) This provision shall
not prevent you from owning less
than 1% of a publicly-owned entity
or less than 3% of a private equity
fund.
	 

	 	    c)
	 	You shall not, directly or
indirectly, solicit the employment
of or hire as an employee or
consultant or agent (1) any employee
of WESCO or its subsidiaries or
(2) any former employee of WESCO or
its subsidiaries whose employment
ceased within 180 days prior to the
date of such solicitation or hiring.
	 
	 	 	 	 
	 	 	Confidentiality. “Confidential
Information” means information
regarding the business or operations
of WESCO or its subsidiaries, both
oral and written, including, but not
limited to, documents and WESCO or
subsidiary information contained in
such documents; drawings; designs;
plans; specifications; instructions;
data; manuals; electronic media such
as computer disks, computer
programs, and data stored
electronically; security code
numbers; financial, marketing and
strategic information; product
pricing and customer information,
that WESCO or its subsidiaries
disclose to you or you otherwise
learn or ascertain in any manner as
a result of, or in relation to, your
employment by WESCO. Other than as
required by applicable law, you
agree: (1) to use Confidential
Information only for the purposes
required or appropriate for your
employment with WESCO; (2) not to
disclose to anyone Confidential
Information without WESCO’s prior
written approval; and (3) not to
allow anyone’s use or access to
Confidential Information, other than
as required or appropriate for your
employment with WESCO. The
foregoing shall not apply to
information that is in the public
domain, provided that you were not
responsible, directly or indirectly,
for such information entering into
public domain without WESCO’s
approval. You agree to return to
WESCO all Confidential Information
in your possession upon termination
of your employment or at any time
requested by WESCO.
	 
	 	 	 	 
	 	 	If any of the foregoing provisions
shall be invalid or unenforceable to
any extent, the remaining provisions
shall not be affected, and each
remaining provision shall be
enforceable to the fullest extent
permitted by law. If any provision
is so broad as to be unenforceable,
then such provision shall be
interpreted to be only as broad as
is enforceable.
	 
	 	 	 	 
	 	 	The non-compete, non-solicitation
and confidentiality covenants of
this section shall be in addition
to, and shall not be deemed to
supersede, any other similar
covenants between you and WESCO.
	 
	 	 	 	 
	Health, Welfare, and
Other Benefit Programs	 	Eligible to participate in all
corporate benefit programs in
accordance with standard policies
and procedures. Eligible for 4
weeks of vacation annually.
	 
	 	 	 	 
	Employment Policy	 	In accordance with Company
practices, neither this letter, nor
any benefit program or employment
policy is to be considered an
employment contract. Your
employment and compensation are at
the will of WESCO Distribution, Inc.
and can be terminated, with or
without cause and with or without
notice, at any time, by either you
or the Company.
	 
	 	 	 	 
	Approval	 	All terms and conditions as
described above are subject to
review, modification, and approval
of WESCO’s Compensation Committee or
Board of Directors.

	 	 	 	 	 

	Accepted on June 21, 2010

	 	   /s/ Kimberly G. Windrow                    
	 	 
	 

	 	                    Signature

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