Document:

Exhibit 10.21

 

ALTICE USA

SHORT TERM INCENTIVE COMPENSATION PLAN

 

1.                                      Purposes of the Plan

 

The purpose of the Altice USA Short Term Incentive Compensation Plan is to motivate and reward eligible employees by making a portion of their cash compensation dependent on the achievement of certain Company, Altice N.V., corporate, business unit and individual performance goals.  Certain awards under the Plan may be intended to qualify as performance-based compensation deductible by the Company under the qualified performance-based compensation exception to Section 162(m).  The Plan was approved by the Board on June 7, 2017.  The Plan shall become effective on the Effective Date and shall remain in effect until it has been terminated pursuant to Section 7(e).

 

2.                                      Definitions

 

(a)                                 Definitions.  For purposes of the Plan, the following capitalized words shall have the meanings set forth below:

 

“Affiliate” means any subsidiary and any person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, the Company.

 

“Award” means an award granted pursuant to the Plan, the payment of which shall be contingent on the attainment of Performance Targets with respect to a Performance Period, as determined by the Committee pursuant to Section 6(a).

 

“Base Salary” means the Participant’s annualized rate of base salary on the last day of the Performance Period before (i) deductions for taxes or benefits and (ii) deferrals of compensation pursuant to any Company or Affiliate-sponsored plans.

 

“Board” means the Board of Directors of the Company, as constituted from time to time.

 

“Change in Control” has the meaning set forth in the Altice USA 2017 Long Term Incentive Plan.

 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time, including any regulations or authoritative guidance promulgated thereunder and successor provisions thereto.

 

“Committee” means the Board or, if delegated by the Board, the Compensation Committee of the Board, any successor committee thereto, or any other committee appointed from time to time by the Board to administer the Plan.  For purposes of the Plan, reference to the Committee shall be deemed  to refer to any subcommittee, subcommittees, or other persons or groups of persons to whom the Committee delegates authority pursuant to Section 3(d).

 

“Company” means Altice USA, Inc., a Delaware corporation, and any successor thereto.

 

 

“Effective Date” means the business day immediately prior to the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, with respect to any class of the Company’s equity securities.

 

“Maximum Award” means as to any Participant for any Plan Year, $3,000,000.

 

“Participant” means those officers of the Company who are selected by the Committee to receive an Award for the Plan Year.

 

“Performance Criteria” means a goal or goals established by the Committee and measured over a Performance Period. To the extent that an Award is intended to constitute qualified performance-based compensation under Section 162(m), the Performance Criteria with respect to such Award shall be related to measures of one or more of the criteria listed below. Such criteria may be determined by reference to the performance of the Company, Altice N.V., an Affiliate or a business unit, product or service thereof or any combination of the foregoing. Such criteria may also be measured on a per customer, subscriber, homes passed, basic or diluted share basis or any combination of the foregoing and may reflect absolute performance, incremental performance or comparative performance to other companies (or their products or services) determined on a gross, net, GAAP or non-GAAP basis, with respect to one or more of the following: net or operating income or other measures of profit; measures of revenue; earnings before interest, taxes, depreciation and amortization (EBITDA); cash flow, free cash flow, adjusted operating cash flow and similar measures; return on equity, investment, assets or capital; gross or operating margins or savings; performance relative to budget, forecast or market expectations; market share or penetration, subscriber or customer acquisition or retention, ratings or viewership; operating metrics relating to sales, installations or customer service or satisfaction; capital spending management, network upgrades or product or service deployments; a specified increase in the fair market value of the Company’s common stock or that of Altice N.V.; a specified increase in the private market value of the Company; the price of the Company’s common stock or that of Altice N.V.; earnings per share; and/or total shareholder return.  The Performance Criteria shall be subject to adjustment by the Committee to remove the effect of charges for restructurings, discontinued operations and all items of gain, loss or expense determined to be unusual in nature or infrequent in occurrence, related to the disposal of a segment or a business, or related to a change in accounting principle or otherwise.

 

With respect to Awards that are not intended to constitute qualified performance-based compensation under Section 162(m), the Committee may establish Performance Targets based on any Performance Criteria or no Performance Criteria as it deems appropriate.

 

“Performance Targets” means the goals selected by the Committee, in its discretion, to be applicable to a Participant for any Performance Period.  Performance Targets shall be based upon one or more Performance Criteria.  Performance Targets may include a threshold level of performance below which no Award will be paid and levels of performance at which specified percentages of the Target Award will be paid and may 

 

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also include a maximum level of performance above which no additional Award amount will be paid.

 

“Performance Period” means the period established by the Committee over which Performance Targets are measured, which, unless otherwise indicated by the Committee, shall be the Plan Year.

 

“Plan” means the Altice USA Short Term Incentive Compensation Plan, as amended from time to time.

 

“Plan Year” means the Company’s fiscal year.

 

“Section 162(m)” means Section 162(m) of the Code.

 

“Section 162(m) Determination Date” means the earlier of:  (i) the 90th day of the Performance Period; or (ii) the date on which 25% of the Performance Period has elapsed.  The Determination Date shall be a date on which the outcomes of the Performance Targets are substantially uncertain.

 

“Section 409A” means Section 409A of the Code.

 

“Stockholders’ Agreement” means between the stockholders’ agreement, dated as of                              . between the Company, Altice N.V., and A4 S.A.

 

“Target Award” means the target award payable under the Plan to a Participant for a particular Performance Period, expressed as a percentage of the Participant’s Base Salary.  In special circumstances, the target award may be expressed as a fixed amount of cash.

 

(b)                                 Rules of Construction.  The masculine pronoun shall be deemed to include the feminine pronoun, and the singular form of a word shall be deemed to include the plural form, unless the context requires otherwise.  Unless the text indicates otherwise, references to sections are to sections of the Plan.

 

3.                                      Administration

 

(a)                                 Committee.  The Plan shall be administered by the Committee, which, in addition to the other express powers conferred on the Committee by the Plan, shall have full power and authority, subject to applicable Law, the express provisions hereof and, to the extent required by the Stockholder’s Agreement, the prior written approval of Altice N.V., to:  (i) select Participants; (ii) grant Awards in accordance with the Plan; (iii) determine the terms and 

 

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conditions of each Award, including, without limitation, Performance Periods, Performance Targets, and the effect or occurrence, if any, of termination of employment or leave of absence with the Company or any of its Affiliates or a Change in Control of the Company; (iv) subject to Sections 5(b), 6(a) and 7(e), amend the terms and conditions of an Award after the granting thereof; (v) make factual determinations in connection with the administration or interpretation of the Plan; (vi) adopt, prescribe, establish, amend, waive and rescind administrative regulations, rules and procedures relating to the Plan; (vii) employ such legal counsel, independent auditors and consultants as it deems desirable for the administration of the Plan and to rely upon any advice, opinion or computation received therefrom; (viii) vary the terms of Awards to take into account tax laws (or changes thereto) and other regulatory requirements or to procure favorable tax treatment for Participants; (ix) correct any defects, supply any omission or reconcile any inconsistency in the Plan; and (x) make all other determinations and take any other action desirable or necessary to interpret, construe or implement properly the provisions of the Plan.

 

(b)                                 Plan Construction and Interpretation.  The Committee shall have full power and authority, subject to the express provisions hereof, to construe and interpret the Plan and any document delivered under the Plan.

 

(c)                                  Determinations of Committee Final and Binding.  Subject to the Stockholder’s Agreement, all determinations by the Committee in carrying out and administering the Plan and in construing and interpreting the Plan shall be made in the Committee’s sole discretion and shall be final, binding and conclusive for all purposes and upon all persons interested herein.

 

(d)                                 Delegation of Authority.  To the extent not prohibited by applicable laws, rules and regulations, the Committee may, from time to time, delegate some or all of its authority under the Plan to a subcommittee or subcommittees thereof or other persons or groups of persons as it deems necessary, appropriate or advisable under such conditions or limitations as it may set at the time of such delegation or thereafter; provided, however, that the Committee may not delegate its authority, except to a subcommittee thereof, to make Awards to individuals whose compensation for such fiscal year may be subject to the limit on deductible compensation pursuant to Section 162(m).  Notwithstanding the foregoing, no person to whom authority has been delegated pursuant to this Section 3(d) shall make any Award to himself or herself or to any other person to whom authority to make Awards has been so delegated.

 

(e)                                  Liability of Committee and its Delegates.  Subject to applicable laws, rules and regulations:  (i) no member of the Board or Committee (or its delegates pursuant to Section 3(d)) shall be liable for any good faith action, omission or determination made in connection with the operation, administration or interpretation of the Plan and (ii) the members of the Board or the Committee (and its delegates) shall be entitled to indemnification and reimbursement in accordance with applicable law in the manner provided in the Company’s by-laws and any indemnification agreements as they may be amended from time to time.  In the performance of its responsibilities with respect to the Plan, the Committee shall be entitled to rely upon information and/or advice furnished by the Company’s officers or employees, the Company’s accountants, the Company’s counsel and any other party the Committee deems necessary, and no member of the Committee shall be liable for any action taken or not taken in reliance upon any such information and/or advice.

 

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(f)                                   Action by the Board.  Anything in the Plan to the contrary notwithstanding, subject to applicable laws, rules and regulations, any authority or responsibility that, under the terms of the Plan, may be exercised by the Committee may alternatively be exercised by the Board.

 

(g)                                  Stockholders’ Agreement.  Anything in the Plan to the contrary notwithstanding, any authority or responsibility that, under the terms of the Plan, may be exercised by the Committee or the Board is subject, to the extent required by the Stockholder’s Agreement, to the prior written approval of Altice N.V.

 

4.                                      Eligibility and Participation

 

(a)                                 Eligibility.  The individuals entitled to participate in the Plan shall be those officers of the Company who are selected by the Committee to receive an Award for the Plan Year.

 

(b)                                 Participation.  The Committee, in its discretion, shall select the persons who shall be Participants for the Performance Period.  In the case of Awards intended to meet the requirements for qualified performance-based compensation under Section 162(m), such selection shall be made no later than the Section 162(m) Determination Date.  Only eligible individuals who are designated by the Committee to participate in the Plan with respect to a particular Performance Period may participate in the Plan for that Performance Period.  An individual who is designated as a Participant for a given Performance Period is not guaranteed or assured of being selected for participation in any subsequent Performance Period.

 

5.                                      Terms of Awards

 

(a)                                 Determination of Target Awards.  Prior to, or reasonably promptly following the commencement of each Performance Period, the Committee, in its sole discretion, shall establish the Target Award for each Participant, the payment of which shall be conditioned on the achievement of the Performance Targets for the Performance Period.  In the case of Awards intended to meet the requirements for qualified performance-based compensation under Section 162(m), such determination shall be made by a commitee composed solely of directors who qualify as “outside directors” within the meaning of Section 162(m) (a “162(m) Committee”) no later than the Section 162(m) Determination Date.

 

(b)                                 Determination of Performance Targets and Performance Formula.  Prior to, or reasonably promptly following the commencement of, each Performance Period, the Committee, in its sole discretion, shall establish the Performance Targets for the Performance Period and shall prescribe a formula for determining the percentage of the Target Award which may be payable based upon the level of attainment of the Performance Targets for the Performance Period.  The Performance Targets shall be based on one or more Performance Criteria, each of which may carry a different weight, and which may differ from Participant to Participant.  In the case of Awards intended to meet the requirements for qualified performance-based compensation under Section 162(m), all such actions shall be conducted by a 162(m) Committee and shall be completed by no later than the Section 162(m) Determination Date, and, to the extent applicable, the Performance Targets shall be determined in accordance with generally accepted accounting principles (subject to adjustments and modifications for specified types of events or circumstances approved by a 

 

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162(m) Committee in advance, provided that no such adjustment shall be made if the effect would be to cause such Awards to fail to qualify as qualified performance-based compensation under Section 162(m)).

 

6.                                      Payment of Awards

 

(a)                                 Determination of Awards; Certification.

 

(i)                                     Following the completion of each Performance Period, the Committee shall determine the extent to which the Performance Targets have been achieved or exceeded.  If the minimum Performance Targets established by the Committee are not achieved, no payment will be made.

 

(ii)                                  To the extent that the Performance Targets are achieved, the Committee shall determine, and in the case of Awards intended to meet the requirements for qualified performance-based compensation under Section 162(m), a 162(m) Committee shall certify in writing, the extent to which the Performance Targets applicable to each Participant have been achieved and shall then determine the amount of each Participant’s Award.

 

(iii)                               In determining the amount of each Award, the Committee may reduce or eliminate the amount of an Award by applying negative discretion if, in its sole discretion, such reduction or elimination is appropriate.  In the case of Awards other than Awards intended to meet the requirements for qualified performance-based compensation under Section 162(m), the Committee may also exercise its discretion to increase the amount of an Award to the extent that it believes that circumstances so warrant.

 

(iv)                              In no event shall the amount of an Award for any Plan Year exceed the Maximum Award.

 

(b)                                 Form and Timing of Payment.  Except as otherwise provided herein, as soon as practicable following the Committee’s determination or a 162(m) Committee’s certification, as applicable, pursuant to Section 6(a) for the applicable Performance Period, each Participant shall receive a cash lump sum payment of his or her Award, less required withholdings.  In no event shall such payment be made later than two and one-half months following the date the Committee determines or a 162(m) Committee certifies, as applicable, that the Performance Targets have been achieved.

 

(c)                                  Deferral of Awards.  The Committee, in its sole discretion, may permit a Participant to defer the payment of an Award that would otherwise be paid under the Plan.  Any deferral election shall be subject to such rules and procedures as shall be determined by the Committee in its sole discretion.

 

7.                                      General Provisions

 

(a)                                 Compliance with Legal Requirements.  The Plan and the granting of Awards shall be subject to all applicable federal and state laws, rules and regulations, and to such approvals by any regulatory or governmental agency as may be required.

 

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(b)                                 Tax Withholding.  The Company or an Affiliate, as appropriate, shall have the right to deduct from all payments made to a Participant any applicable taxes required or permitted to be withheld (up to the maximum statutory tax rate in the relevant jurisdiction) with respect to such payments.

 

(c)                                  Non-Transferability.  A Participant’s rights and interests under the Plan, including any Award previously made to such Participant or any amounts payable under the Plan may not be assigned, pledged, or transferred, except, in the event of the Participant’s death, to a designated beneficiary in accordance with the Plan, or in the absence of such designation, by will or the laws of descent or distribution or pursuant to a domestic relations order.

 

(d)                                 No Right to Awards or Employment.  No person shall have any claim or right to receive Awards under the Plan.  Neither the Plan, the grant of Awards under the Plan nor any action taken or omitted to be taken under the Plan shall be deemed to create or confer on any person any right to be retained in the employ of the Company or any of its Affiliates, or to interfere with or to limit in any way the right of the Company or any of its Affiliates to terminate the employment of such person at any time.  No Award shall constitute salary, recurrent compensation or contractual compensation for the year of grant, any later year or any other period of time.  Payments received by a Participant under any Award made pursuant to the Plan shall not be included in, nor have any effect on, the determination of employment-related rights or benefits under any other employee benefit plan or similar arrangement provided by the Company and its Affiliates, unless otherwise specifically provided for under the terms of such plan or arrangement or by the Committee.

 

(e)                                  Amendment or Termination of the Plan.  The Board or the Committee may, at any time, amend, suspend or terminate the Plan in whole or in part, provided that no amendment that requires stockholder approval in order for the Plan to continue to comply with Section 162(m) shall be effective unless approved by the requisite vote of the stockholders of the Company. 

 

(f)                                   Unfunded Plan.  Nothing contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between the Company and any Participant, beneficiary or legal representative or any other person.  To the extent that a person acquires a right to receive payments under the Plan, such right shall be no greater than the right of an unsecured general creditor of the Company.  All payments to be made hereunder shall be paid from the general funds of the Company and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts except as expressly set forth in the Plan.  The Plan is not intended to be subject to the Employee Retirement Income Security Act of 1974, as amended.

 

(g)                                  Section 162(m).  Unless otherwise determined by the Committee, or expressly provided herein, in the case of Awards intended to meet the requirements for qualified performance-based compensation under Section 162(m) the provisions of this Plan shall be administered and interpreted in accordance with Section 162(m) to ensure the maximum deductibility by the Company of the payment of such Awards.

 

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(h)                                 Section 409A.  It is intended that, except for payments which a Participant has elected to defer pursuant to Section 6(c), payments under the Plan qualify as short-term deferrals exempt from the requirements of Section 409A.  In the event that any Award does not qualify for treatment as an exempt short-term deferral, it is intended that such amount will be paid in a manner that satisfies the requirements of Section 409A.  The Plan shall be interpreted and construed accordingly.

 

(i)                                     Successors.  All obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding upon any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

 

(j)                                    Headings.  The headings of Sections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of the Plan.

 

(k)                                 Clawback.  Notwithstanding anything in the Plan to the contrary, all Awards granted under the Plan and any payments made pursuant to the Plan shall be subject to clawback or recoupment as permitted or mandated by applicable law, rules, regulations or any Company policy as enacted, adopted or modified from time to time.

 

(l)                                     Severability.  If any provision of this Plan is held unenforceable, the remainder of the Plan shall continue in full force and effect without regard to such unenforceable provision and shall be applied as though the unenforceable provision were not contained in the Plan.

 

(m)                             Governing Law.  The Plan shall be construed, administered and enforced in accordance with the laws of Delaware without regard to conflicts of law.

 

8Agreement and General Release

 Exhibit 10.1 

AGREEMENT AND GENERAL RELEASE 

WHEREAS, William D. Muir, Jr. (“Employee”) is employed by Jabil Inc. (“Jabil”), but wishes to end that employment, and
Employee and Jabil wish to set forth the terms of their future relationship in this agreement (“Agreement”) and to resolve disputes (if any) between them; and 

WHEREAS, Employee and Jabil agree that Employee’s last day of employment will be December 31, 2017 (provided that his last day of
active on-site employment will be June 30, 2017), unless his employment terminates earlier than December 31, 2017 due to his death, Disability or termination of employment by Jabil for
“Cause”; 
 NOW, THEREFORE, in consideration of the promises and mutual agreements contained herein, the adequacy and sufficiency
of which are hereby acknowledged, Employee and Jabil agree as follows: 
  

	1.	Employee’s Separation and Future Relationship. 

  

	 	A.	Employee will voluntarily resign and his employment by Jabil will end effective as of the close of business on December 31, 2017, unless his employment terminates earlier due to his death, Disability (as such term
is defined in the Jabil Circuit, Inc. 2011 Stock Award and Incentive Plan) or termination of employment by Jabil for “Cause” (as such term is defined in the Jabil Circuit, Inc. 2011 Stock Award and Incentive Plan). “Separation
Date” means Employee’s last day of employment by Jabil. 

  

	 	B.	If Employee continues in employment until December 31, 2017, Employee will sign and deliver (not later than January 8, 2018) (i) a formal letter of resignation, including resignation from his corporate officer
and director positions, if any; and (ii) a general release and covenant not to sue substantially in the form attached hereto as Attachment A, which general release and covenant not to sue shall be included in and form a part of this Agreement.

  

	 	C.	During the period from July 1, 2017 to the Separation Date, Employee agrees that he will make himself available at reasonable times to assist Jabil in any transition issues arising from his separation. To the
extent that a substantial amount of availability is required, or in person meetings involving any travel expenses may be needed, the same shall be done upon mutual agreement of the parties as to said meetings and the reimbursement of reasonable
expenses. 

  

	 	D.	Except as otherwise provided in paragraphs 8(A) and 8(E), Employee agrees to continue to be bound by, and that he will abide by, the Jabil “Commitment of Confidentiality” that he signed. 

 

	 	E.	Employee understands and agrees that (a) the federal “insider trading” securities laws continue to apply to Employee notwithstanding his separation of employment from Jabil; (b) Jabil’s Insider
Trading Policy prohibits Employee from trading in Jabil securities while in possession of material nonpublic information concerning Jabil; and (c) the prohibition against such trading continues to apply to Employee after leaving Jabil.
Therefore, Employee agrees to abide by the Jabil trading windows even after leaving Jabil until such time as the insider information Employee possessed, if any, becomes public. 

 

	 	F.	 Employee agrees that, not later than the Separation Date, he will give to Jabil all property (other than his
current business cell phone) in his possession, custody or control which he obtained from Jabil or from any of its customers/potential customers, vendors/potential vendors, merger/acquisition candidates, employees, contractors or consultants
including but not limited to the originals and all copies of any documents, files, data or information (electronic or hard-copy), 

  
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access cards, credit cards, passwords and file-access methods/protocols, computers/laptops/PDAs (including all software and peripherals), cell phones, credit cards and stored
documents/files/information (all documents, files and information having been returned unaltered and unencrypted). Employee may retain his cell phone and cell phone number from and after his Separation Date provided Employee arranges not later
than 30 days after the Separation Date to obtain a personal mobile phone service contract at Employee’s expense. 

  

	 	G.	Employee understands that Jabil will (a) abide by the terms of the award agreements (the “Award Agreements”) for his equity and equity-based awards, and (b) consider and treat Employee in a manner
consistent with other direct reports to Jabil’s CEO in regards to any performance-based equity awards. 

  

	2.	Jabil’s Obligations to Employee. 

  

	 	A.	Jabil will pay or provide to Employee the following: 

  

	 	i.	employee’s salary through the Separation Date; 

  

	 	ii.	subject to the applicable performance metrics being met, Employee’s annual cash incentive under Jabil’s Short Term Incentive Plan for fiscal year 2017 payable at such time and calculated in accordance with the
terms of such plan, and Employee will be considered and treated in a manner consistent with other direct reports to Jabil’s CEO in respect of the annual cash incentive under Jabil’s Short Term Incentive Plan for fiscal year 2017.

  

	 	iii.	subject to and contingent upon Employee’s continuing in employment until December 31, 2017 and his signing and not revoking this Agreement and Attachment A, a cash amount equal to $2,240,000, payable in eight
equal quarterly installments of $280,000 each, commencing with the first installment payable on January 15, 2018, the second, third and fourth installments on March 14, 2018, July 2, 2018, and September 30, 2018, respectively,
and the remaining installments payable in the last month of each calendar quarter thereafter until the last installment is paid in September 2019. 

  

	 	iv.	the balance (if any) in Jabil’s Employee Stock Purchase Plan as of the Separation Date, according to such plan’s terms and conditions; 

 

	 	v.	the balance (if any) in Jabil’s Non-Qualified Deferred Compensation Plan, according to such plan’s terms and conditions; 

 

	 	vi.	the opportunity to leave his existing account balance (if any) in Jabil’s 401(k) plan after the Separation Date or to elect the timing of distribution after the Separation Date of Employee’s existing account
balance (if any) in Jabil’s 401(k) plan, according to the terms and conditions of such plan; Jabil will not make any further contribution to Employee’s 401(k) account after the Separation Date and Employee remains responsible for repayment
of any loans from his 401(k) account (if any); and 

  

	 	vii.	the papers necessary for Employee to elect continuation of any group medical insurance coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act and the terms and conditions of Jabil’s medical plan,
provided that, subject to and contingent upon Employee’s continuing in employment until the Separation Date, such coverage, if elected, will be subsidized by Jabil for 18 months or, if earlier, until Employee becomes covered by the group health
coverage of a successor employer. The papers will be issued to Employee promptly after the Separation Date. 

  
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	 	B.	Employee understands and agrees that the monies and benefits described in this paragraph are the sole financial obligations of Jabil to Employee under this Agreement arising from Employee’s employment by Jabil or
the end of that employment. 

  

	 	C.	The payment of any monies or benefits pursuant to the terms of this Agreement will be subject to deductions and withholdings required by law. Employee agrees that he is solely responsible for, and will pay, all taxes,
contributions or other payments to any taxing authorities which arise from Employee’s receipt of monies or benefits under this Agreement. 

  

	 	D.	In the event that Employee is involuntarily terminated by Jabil earlier than December 31, 2017 for any reason other than due to his death, Disability or for Cause, Jabil agrees that for all purposes of this
Agreement, Employee’s last day of employment will be deemed to be December 31, 2017. 

  

	 	E.	Employee’s entitlement to the payments and benefits described in paragraph 2(A) shall survive Employee’s death and Jabil will remain liable to pay and/or provide the same to Employee’s designated
beneficiary or, if none, to Employee’s estate. 

  

	3.	Release. 

  

	 	A.	In exchange for the benefits given by Jabil to Employee under this Agreement, for which Employee is not otherwise entitled, Employee agrees, on his own behalf and on behalf of any other person entitled to make a claim
on his behalf or through him, that Employee hereby freely, finally, fully and forever releases and discharges Jabil (as defined below) from any and all claims and causes of action of any kind or nature that Employee once had or now has against
Jabil, including all claims arising out of his employment or end of employment with Jabil, whether such claims are now known or unknown to Employee (“Released Claims”). Released Claims do not include (i) any claims arising from events
occurring after Employee signs this Agreement, including any claims for indemnification related to Employee’s service as an officer of Jabil (including for the avoidance of doubt, any applicable director and officer insurance policies and any
Indemnification Agreement entered into between Jabil and Employee); (ii) any claims which by law may not be released by Employee, including claims challenging the validity of this Agreement under the ADEA and the OWBPA (as such terms are defined
below); (iii) any claims of Employee for vested benefits under Jabil’s employee benefit plans; (iv) any claims relating to the consideration for this release; and (v) any claims related to Jabil’s performance of this Agreement,
any claims relating to benefits payable under the Jabil Circuit, Inc. 2011 Stock Award and Incentive Plan that may vest prior to the Separation Date or any claims under Jabil’s Short Term Incentive Plan for fiscal year 2017 that may vest prior
to the Separation Date. This paragraph shall operate as a general release and covenant not to sue to the maximum extent permitted by law. Nothing in this release generally prevents Employee from filing a charge or complaint with or participating in
an investigation or proceeding conducted by the National Labor Relations Board. In addition, nothing in this release generally prevents Employee from filing a charge or complaint with or participating in an investigation or proceeding conducted by
the Equal Employment Opportunity Commission or any other federal, state or local agency charged with the enforcement of any employment laws, although by signing this release Employee is waiving his right to individual relief based on claims asserted
in such a charge or complaint, except where such a waiver is prohibited. 

  
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	 	B.	Employee realizes that there are many laws and regulations relating to employment, including Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended
(“ADEA”); the Older Workers Benefit Protection Act (“OWBPA”); the Americans with Disabilities Act of 1990, as amended; the Employee Retirement Income Security Act of 1974, as amended; the Rehabilitation Act; the Americans with
Disabilities Act; the Family and Medical Leave Act; the Lilly Ledbetter Fair Pay Act of 2009; the National Labor Relations Act; Executive Order 11246; the Florida Civil Human Rights Act, as amended; the Florida Wage Discrimination Law and Wage
Payment Law, as amended; the Florida Whistleblower Protection Act, as amended; and various other federal, state and local constitutions, statutes, ordinances, human rights/discrimination/retaliation/wage laws, and common laws (including the laws of
contract and negligence). Employee intends to fully and finally release Jabil from any and all Released Claims arising under such laws which Employee has or may have arising from events occurring prior to the date on which Employee signs this
Agreement. 

  

	 	C.	As used in this Agreement, the term “Jabil” shall mean Jabil Inc. and its current or future parents, subsidiaries and affiliated organizations and its or their respective current or future: (i) pension,
profit-sharing, savings, health, and other employee benefit plans of any nature as well as the plans’ respective trustees, insurers and administrators; (ii) directors, officers, employees, agents, attorneys, representatives and
shareholders; and (iii) successors and assigns as well as the heirs, personal representatives, successors and assigns of the persons or entities described in this Agreement. 

 

	4.	Waiver of Recovery. 

  

	 	A.	Employee waives his right to any monetary recovery should any federal, state, or local administrative agency pursue any claims on his behalf arising out of or related to his employment with and/or separation from
employment with Jabil. Employee affirmatively states that to his knowledge, Jabil is in compliance with all laws and regulations, and Employee agrees that he will not take a contrary position. Should Employee take a contrary position, Employee
understands and agrees that any sum of money he receives as a consequence will be immediately due and payable to Jabil. 

  

	5.	No Claims.  

  

	 	A.	Employee acknowledges that he has not suffered any on-the-job injury for which he has not already filed a claim and that he has no pending
claims against Jabil, except as may be listed herein. Employee acknowledges and agrees that he has been paid all wages earned through the date hereof. 

  

	6.	Employee’s Informed, Voluntary Signature. 

  

	 	A.	Employee agrees that he has had a full and fair opportunity to review this “Agreement and General Release” and signs this Agreement knowingly, voluntarily and without duress or coercion. Further, in executing
this Agreement, Employee agrees that he has not relied on any representation or statement not set forth in this Agreement and its attachments. 

  

	 	B.	 Employee acknowledges receipt of the Group Data Report attached hereto as Attachment B and agrees that he was
given an opportunity to consider this “Agreement and General Release” and its attachment (if any) for forty-five (45) days before signing it. If he has signed it sooner than forty-five (45) days

  
 4 

	 	
after receiving it, Employee agrees that he has done so voluntarily and waived the opportunity to review it for that entire period. Jabil advises Employee to consult an attorney before signing
this Agreement. 

  

	 	C.	Federal law requires that (i) this Agreement be revocable by Employee for seven (7) days following his execution of it and (ii) this Agreement is not effective or enforceable until the seven-day period expires and Employee has not revoked it. If Employee wishes to revoke this Agreement, he must send a written notice of revocation to the General Counsel of Jabil (Bobby Katz), in St. Petersburg,
Florida, so that it is received not later than the close of business on the seventh day after Employee signed the Agreement. If Employee chooses to revoke this Agreement during the seven-day revocation period,
his revocation will only apply to his release of claims under the ADEA and the OWBPA. All other items contained in the release in paragraph 3 will remain effective, and Employee shall only be entitled to receive the benefits described in clauses
(i), (ii), (iv), (v), (vi), and (vii) (including the employer subsidy of 18 months of COBRA coverage) of paragraph 2(A) above. 

  

	7.	Employee’s Restrictive Covenants. 

  

	 	A.	Jabil and Employee agree that, due to Jabil’s efforts, Jabil is the owner of numerous trade secrets and the possessor of highly-sensitive business information about its finances, operations, business
development/acquisition methods and strategies, customers (and potential customers), vendors (and potential vendors), employees, contractors and consultants and other matters that could be very valuable to Jabil’s competitors. Employee is in
possession of such sensitive information acquired during his Jabil employment and, further, he has developed valuable contacts and relationships with Jabil customers (and potential customers), vendors (and potential vendors), employees, contractors
and consultants. Therefore, commencing on the Separation Date and continuing until December 31, 2019, Employee and Jabil agree that Employee will not, without the prior written consent of Jabil: 

 

	 	i.	be employed by or be engaged as a consultant or contractor to, or sit on the board of directors of (a) Benchmark Electronics, Inc.; Celestica, Inc.; Flextronics International Ltd.; Foxconn/Hon Hai Precision
Industry Company, Ltd.; Plexus Corp., Sanmina-SCI, Wistron Corporation or any of their current or future parents, subsidiaries, divisions, or direct or indirect affiliates (“affiliates” to include
any entity in which the named entity has or from time to time may have a majority equity interest), or (b) such other business which has one of its principal lines of business engaged in, or, in connection with your proposed employment or
engagement intends to establish one of its a principal lines of business in, providing manufacturers with 3D printing manufacturing solutions and services, including without limitation development of software, materials or equipment solutions or
services, 

  

	 	ii.	be engaged in any manner whatsoever in developing, designing, distributing, servicing, marketing or selling software as a service (SaaS) for procurement–related activities; 

 

	 	iii.	persuade or attempt to persuade any person or entity that has a business relationship with Jabil to not do business with or cease doing business with Jabil, to reduce the amount of business historically done with Jabil
or to otherwise alter the actual business relationship with Jabil; or 

  

	 	iv.	solicit any Jabil employee to end or modify his/her relationship with Jabil for the purpose of employment outside of Jabil. 

  
 5 

	 	B.	The restrictive covenants contained in the preceding paragraph 7(A) shall be construed as agreements and as independent covenants. The existence of any cause of action by Employee against Jabil shall not constitute a
defense to Jabil’s enforcement of the restrictive covenants. 

  

	 	C.	Jabil and Employee agree that, if any portion of this paragraph 7 is held to be unreasonable, arbitrary, or against public policy by any court or tribunal, or if the applicable law on which such covenant is founded is
changed in any manner as to limit the enforceability of this paragraph, the paragraph shall be enforced against Employee for a shorter period of time or in a smaller geographic area or otherwise as is determined by the tribunal to be reasonable, non-arbitrary and not against public policy. 

  

	 	D.	Except as otherwise required by law, Employee shall forfeit any amount described in clause (iii) of paragraph 2(A) above in excess of $10,000 if he breaches any of the restrictive covenants contained in paragraph
7(A), and Employee shall repay such forfeited amounts to Jabil within 30 days of the breach. Jabil shall provide Employee with written notice of any breach of paragraph 7(A) to Employee’s last known address on file describing such breach. If
Jabil shall make application to a court of competent jurisdiction for injunctive relief to enforce this paragraph, then and in that event the period of time for the application of the restrictive covenant shall be tolled for a period commencing with
Employee’s act which creates the claim for injunctive relief and terminating with the date of final adjudication of the petition for injunctive relief, if granted. 

 

	 	E.	Employee agrees that he will notify any future employers of his confidentiality and non-solicitation obligations to Jabil under this Agreement. 

 

	8.	Employee’s Confidentiality Covenants. 

  

	 	A.	Employee agrees that, unless compelled by subpoena, Employee will not at any time use or talk about, write about, disclose in any manner or publicize either (i) Jabil’s business, operations or employment data,
policies or practices; or (ii) the proprietary or trade secret or confidential information of Jabil or of its customers, vendors, merger/acquisition candidates, employees, contractors or consultants. Further, Employee agrees that he has not and
will not engage in any conduct that disparages Jabil or its current or former officers or directors (or that disparages its current or former employees with respect to matters related to Jabil, Jabil’s business or such employees’
performance of services for Jabil) orally, in writing or in any other manner (such as through the use of emails, blogs, photographs, social media (Facebook; Twitter, etc.) or any other electronic or web-based
media), and that he will not make negative statements or comments in any form, manner or medium about Jabil or its current or former officers or directors (or about its current or former employees with respect to matters related to Jabil,
Jabil’s business or such employees’ performance of services for Jabil) or about his employment by, or the end of employment with, Jabil. At Employee’s request, Jabil will provide a letter of reference. 

 

	 	B.	If Employee is subpoenaed or is required to testify about Jabil or his employment by Jabil, he agrees to contact Jabil’s General Counsel (currently, Bobby Katz) about the subpoena/demand within 72 hours of
receiving it or before the date of the proposed testimony, whichever is earlier. Further, Employee agrees to meet and cooperate with Jabil’s attorneys in preparation for such testimony (and, of course, Employee is expected at all times to
testify truthfully). In the event Employee is subpoenaed or required to testify, Jabil shall provide counsel for Employee, subject to Employee’s approval of said counsel, and if such cooperation occurs after the Separation Date, all expenses
relating thereto including fees of $150.00 per hour. 

  
 6 

	 	C.	Employee agrees that, if he receives an inquiry from any representative of the media about Jabil, his employment by Jabil or the end of his Jabil employment, Employee will not respond or will respond with “no
comment, “and he will also inform Jabil’s General Counsel (currently, Bobby Katz) about the inquiry within 72 hours. 

  

	 	D.	Employee’s obligations under this paragraph are in addition to and not in lieu of his obligations under any Jabil “Non-Disclosure Agreement” and/or “Commitment
of Confidentiality.” 

  

	 	E.	Pursuant to the Defend Trade Secrets Act of 2016 (18 U.S.C. 1833(b)), Employee shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made
in confidence either directly or indirectly to a federal, state, or local government official, or to an attorney, solely for the purpose of reporting or investigating a violation of law. Employee shall not be held criminally or civilly liable under
any federal or state trade secret law for the disclosure of a trade secret made in a complaint, or other document filed in a lawsuit or other proceeding, if such filing is made under seal. If Employee files a lawsuit or other action alleging
retaliation by Jabil for reporting a suspected violation of law, Employee may disclose the trade secret to his attorney and use the trade secret in the court proceeding or other action, if Employee files any document containing the trade secret
under seal and does not disclose the trade secret, except pursuant to court order. This paragraph will govern to the extent it may conflict with any other provision of this Agreement or under any Jabil
“Non-Disclosure Agreement” and/or “Commitment of Confidentiality.” 

  

	9.	Conditions to Jabil’s Obligations. 

  

	 	A.	Jabil’s execution of this Agreement, and its performance of its obligations under this Agreement, are specifically conditioned on Employee’s (a) execution, delivery to Jabil and non-revocation of this Agreement and its attachments; (b) satisfactory performance of all assigned material duties until the Separation Date; and (c) compliance with the material terms of this Agreement
and any “Non-Disclosure Agreement” and/or “Commitment of Confidentiality.” For purposes of clause (b) of the preceding sentence, “satisfactory performance” means performance
such that Employee would not be terminated by Jabil for “Cause” (as such term is defined in the Jabil Circuit Inc. 2011 Stock Award and Incentive Plan). Jabil shall provide Employee with written notice of any breach of paragraph 7(A) to
Employee’s last known address on file describing such breach. If Employee asserts a claim against Jabil for breach of this Agreement and after an initial judgment on the merits, Employee has not prevailed on any material claim with respect to
such dispute, Jabil will be relieved of its obligations to pay any unpaid benefits under clause (iii) of paragraph 2(A) and from its obligations to subsidize 18 months of COBRA coverage under clause (vii) of paragraph 2(A), and to the
extent that any such amounts have previously been paid to Employee, Employee shall repay such amounts to Jabil within 30 days of such initial judgment. 

  

	10.	Miscellaneous. 

  

	 	A.	This Agreement shall be interpreted and enforced in accordance with the laws of the United States and the State of Florida, other than its conflicts of laws provisions. Any litigation between the parties must be brought
in a court having jurisdiction in Pinellas County, Florida, unless it is necessary for Jabil to institute suit in another jurisdiction to obtain injunctive relief to enforce the terms of this Agreement. 

  
 7 

	 	B.	This Agreement, the Award Agreements, the Indemnification Agreement between Employee and Jabil, and the Jabil “Commitment of Confidentiality” that Employee signed represent the sole and entire agreement
between Employee and Jabil and supersede any and all prior agreements, negotiations and discussions between them with respect to Employee’s employment or the end of employment. 

 

	 	C.	If Jabil or Employee initiate proceedings for breach of this Agreement, the prevailing party shall recover its or his attorneys’ fees and costs, including such fees and costs on any enforcement or appeal
proceedings irrespective of which party initiates the appeal. 

  

	 	D.	If one or more paragraph(s) of this Agreement are ruled invalid or unenforceable, such invalidity or unenforceability shall not affect any other provision of this Agreement, which shall remain in full force and effect.

  

	 	E.	This Agreement may not be modified orally but only by writing signed by both Employee and by Jabil Inc. 

  

	 	F.	This Agreement shall inure to the benefit of and shall be binding upon Jabil, its successors and assigns. Employee’s obligations and duties hereunder are personal and not assignable, but Jabil will have the right
to assign its rights and obligations under this Agreement to any Jabil affiliate or successor of Jabil or to any purchaser(s) of their assets. 

  

	 	G.	 This Agreement and the monies and benefits provided hereunder are intended to qualify for an exemption from
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), where applicable, provided, however, that if this Agreement and the monies and benefits provided hereunder are not so exempt, they are intended to comply with Code
Section 409A to the extent applicable thereto. Notwithstanding any provision of this Agreement to the contrary, this Agreement shall be interpreted and construed consistent with this intent, provided that Jabil shall not be required to assume any
increased economic burden in connection therewith. Although Jabil intends to administer this Agreement so that it will comply with the requirements of Code Section 409A, Jabil does not represent or warrant that this Agreement will comply with Code
Section 409A or any other provision of federal, state, or local law. Neither Jabil nor its directors, officers, employees or advisers shall be liable to Employee (or any other individual claiming a benefit through Employee) for any tax, interest, or
penalties Employee may owe as a result of monies or benefits paid under this Agreement, and Jabil shall have no obligation to indemnify or otherwise protect Employee from the obligation to pay any taxes pursuant to Code Section 409A, except in the
event that Employee’s obligation to pay taxes pursuant to Code Section 409A results directly from a breach of the express terms of this Agreement by Jabil. With regard to any provision herein that provides for reimbursement of costs and
expenses or in-kind benefits, except as permitted by Code Section 409A, (i) the right to payment or reimbursement or in-kind benefits shall not be subject to
liquidation or exchange for any other benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during any taxable year of Employee shall not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not be violated by any lifetime and other annual limits provided
under Jabil’s group medical plans and (iii) such payments shall be made on or before the last day of Employee’s taxable year following the taxable year in which the expense was incurred. Each separately identified amount and each
installment payment to which Employee is entitled to payment shall be deemed to be a separate payment for purposes of Code Section 409A. No compensation or benefit that is subject to the requirements of Code Section 409A and that is payable upon
Employee’s termination of employment shall be paid unless 

  
 8 

	 	
Employee’s termination of employment constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h),
and references in this Agreement to “termination”, “termination of employment” or like terms shall mean a “separation from service.” If Employee is deemed at the time of his separation from service to be a
“specified employee” for purposes of Code Section 409(A)(a)(2)(B)(i), to the extent delayed commencement of any portion of the compensation or benefits to which Employee is entitled under this Agreement is required in order to avoid a
prohibited distribution under Code Section 409A(a)(2)(B)(i) (any such delayed commencement, a “Payment Delay”), such compensation or benefits shall be provided to Employee on the earlier to occur of (1) the date that is six months and
one day from the date of Employee’s “separation from service” with Jabil or (2) Employee’s death. Upon the earlier of such dates, all payments and benefits deferred pursuant to the Payment Delay shall be paid in a lump sum
to Employee, and any remaining compensation and benefits due under this Agreement shall be paid or provided as otherwise set forth herein. The determination of whether Employee is a “specified employee” for purposes of Code Section
409A(a)(2)(B)(i) as of the time of his separation from service shall be made by Jabil in accordance with the terms of Code Section 409A. 

  

									
	Date: June 9, 2017	 		 	 /s/ William D. Muir, Jr.

		 		 	William D. Muir, Jr.
			
		 		 	Jabil Inc.
				
	Date: June 12, 2017	 		 	By:	 	 /s/ Robert L. Katz

		 		 		 	Name:	 	Robert L. Katz
		 		 		 	Title:	 	Executive Vice President and General Counsel

  
 9 

 ATTACHMENT A 

General Release and Covenant Not to Sue 

WHEREAS, William D. Muir, Jr. (“Employee”) and Jabil Inc. (“Jabil”) have entered into the Agreement and General Release
(“Agreement and General Release”) dated             , 2017; and 

WHEREAS, Employee and Jabil wish to resolve disputes (if any) between them pursuant to this General Release and Covenant Not to Sue Agreement
(“Agreement”); 
 NOW, THEREFORE, in consideration of the promises and mutual agreements contained herein, the adequacy and
sufficiency of which are hereby acknowledged, Employee and Jabil agree as follows: 
  

	1.	Release. 

  

	 	A.	In exchange for the benefits given by Jabil to Employee under the Separation Agreement for which Employee is not otherwise entitled (that is, the benefits described in clause (iii) of paragraph 2(A) of the
Separation Agreement and the employer subsidy for 18 months of COBRA coverage under clause (vii) of paragraph 2(A) of the Separation Agreement), Employee agrees, on his own behalf and on behalf of any other person entitled to make a claim on
his behalf or through him, that Employee hereby freely, finally, fully and forever releases and discharges Jabil (as defined below) from any and all claims and causes of action of any kind or nature that Employee once had or now has against Jabil,
including all claims arising out of his employment or end of employment with Jabil, whether such claims are now known or unknown to Employee (“Released Claims”). Released Claims do not include (i) any claims arising from events
occurring after Employee signs this Agreement, including any claims for indemnification related to Employee’s service as an officer of Jabil (including for the avoidance of doubt, any applicable director and officer insurance policies and any
Indemnification Agreement entered into between Jabil and Employee); (ii) any claims which by law may not be released by Employee, including claims challenging the validity of this Agreement under the ADEA and the OWBPA (as such terms are defined
below); (iii) any claims of Employee for vested benefits under Jabil’s employee benefit plans; (iv) any claims relating to the consideration for this release; and (v) any claims related to Jabil’s performance of the Agreement and
General Release and this Agreement, any claims relating to benefits payable under the Jabil Circuit, Inc. 2011 Stock Award and Incentive Plan that may vest prior to the Separation Date or any claims under Jabil’s Short Term Incentive Plan for
fiscal year 2017 that may vest prior to the Separation Date. This paragraph shall operate as a general release and covenant not to sue to the maximum extent permitted by law. Nothing in this release generally prevents Employee from filing a charge
or complaint with or participating in an investigation or proceeding conducted by the National Labor Relations Board. In addition, nothing in this release generally prevents Employee from filing a charge or complaint with or participating in an
investigation or proceeding conducted by the Equal Employment Opportunity Commission or any other federal, state or local agency charged with the enforcement of any employment laws, although by signing this release Employee is waiving his right to
individual relief based on claims asserted in such a charge or complaint, except where such a waiver is prohibited. 

  
 10 

	 	B.	Employee realizes that there are many laws and regulations relating to employment, including Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended
(“ADEA”); the Older Workers Benefit Protection Act (“OWBPA”); the Americans with Disabilities Act of 1990, as amended; the Employee Retirement Income Security Act of 1974, as amended; the Rehabilitation Act; the
Americans with Disabilities Act; the Family and Medical Leave Act; the Lilly Ledbetter Fair Pay Act of 2009; the National Labor Relations Act; Executive Order 11246; the Florida Civil Human Rights Act, as amended; the Florida Wage
Discrimination Law and Wage Payment Law, as amended; the Florida Whistleblower Protection Act, as amended; and various other federal, state and local constitutions, statutes, ordinances, human rights/discrimination/retaliation/wage laws,
and common laws (including the laws of contract and negligence). Employee intends to fully and finally release Jabil from any and all Released Claims arising under such laws which Employee has or may have arising from events occurring prior to
the date on which Employee signs this Agreement. 

  

	 	C.	As used in this Agreement, the term “Jabil” shall mean Jabil Inc. and its current or future parents, subsidiaries and affiliated organizations and its or their respective current or future: (i) pension,
profit-sharing, savings, health, and other employee benefit plans of any nature as well as the plans’ respective trustees, insurers and administrators; (ii) directors, officers, employees, agents, attorneys, representatives and
shareholders; and (iii) successors and assigns as well as the heirs, personal representatives, successors and assigns of the persons or entities described in this release. 

 

	2.	Waiver of Recovery.  

  

	 	A.	Employee waives his right to any monetary recovery should any federal, state, or local administrative agency pursue any claims on his behalf arising out of or related to his employment with and/or separation from
employment with Jabil. Employee affirmatively states that to his knowledge, Jabil is in compliance with all laws and regulations, and Employee agrees that he will not take a contrary position. Should Employee take a contrary position, Employee
understands and agrees that any sum of money he receives as a consequence will be immediately due and payable to Jabil. 

  

	3.	No Claims.  

  

	 	A.	Employee acknowledges that he has not suffered any on-the-job injury for which he has not already filed a claim and that he has no pending
claims against Jabil, except as may be listed herein. Employee acknowledges and agrees that he has been paid all wages earned through the date hereof. 

  

	4.	Employee’s Informed, Voluntary Signature.  

  

	 	A.	Employee agrees that he has had a full and fair opportunity to review this “General Release and Covenant Not to Sue” and signs this Agreement knowingly, voluntarily and without duress or coercion. Further, in
executing this Agreement, Employee agrees that he has not relied on any representation or statement not set forth in this Agreement. 

  
 11 

	 	B.	Employee acknowledges receipt of the Group Data Report attached hereto as Attachment B and agrees that he was given an opportunity to consider this “General Release and Covenant Not to Sue” and its attachments
(if any) for forty-five (45) days before signing it. If he has signed it sooner than forty-five (45) days after receiving it, Employee agrees that he has done so voluntarily and waived the opportunity to review it for that entire period.
Jabil advises Employee to consult an attorney before signing this Agreement. Further, if Employee was given this “General Release and Covenant Not to Sue” to review prior to the Separation Date, Employee acknowledges that he cannot
sign it any sooner than the Separation Date. 

  

	 	C.	Federal law requires that (i) this Agreement be revocable by Employee for seven (7) days following his execution of it and (ii) this Agreement is not effective or enforceable until the seven-day period expires and Employee has not revoked it. If Employee wishes to revoke this Agreement, he must send a written notice of revocation to the General Counsel of Jabil in St. Petersburg, Florida, so that
it is received not later than the close of business on the seventh day after Employee signed the Agreement. If Employee chooses to revoke this Agreement during the seven-day revocation period, his revocation
will only apply to his release of claims under the ADEA and the OWBPA. All other items contained in the release in paragraph 1 will remain effective, and Employee shall only be entitled to receive the benefits described in clauses (i), (ii), (iv),
(v), (vi), and (vii) (including the employer subsidy of 18 months of COBRA coverage) of paragraph 2(A) of the Separation Agreement. 

  

							
	Date:                    	 		 	  

		 		 	William D. Muir, Jr.
			
		 		 	Jabil Inc.
				
	Date:                    	 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:

  
 12

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