Document:

Letter Amendment & Waiver

 EXHIBIT 10.28b 
 LETTER AMENDMENT AND WAIVER 
 Dated as of May 2, 2007 
 To the banks, financial institutions 
       and other institutional lenders 
       (collectively, the
“Lenders”) 
       parties to the Credit Agreement 
       referred to below and to Citicorp 
       North America, Inc., as 
       administrative agent, (the
“Agent”) 
       for the Lenders 
 Ladies and Gentlemen: 
 We refer to the Bridge Credit Agreement dated as of December 21, 2006 and the
Letter Amendment and Waiver dated as of January 11, 2007 (the “Credit Agreement”) among Jabil Circuit, Inc. (the “Borrower”), the Agent and the other parties thereto. Capitalized terms not otherwise defined in
this Letter Amendment and Waiver (this “Letter Amendment”) have the same meanings as specified in the Credit Agreement. 
 1.
Amendment to Credit Agreement. It is hereby agreed by you and us that the Credit Agreement is, effective as of the date of this Letter Amendment, hereby amended as follows: 
 (a) The definition of EBITDA in Section 1.01 is hereby amended in full to read as follows: 
 “EBITDA” means, for any period, net income (or net loss) plus the sum of (a) interest expense,
(b) income tax expense, (c) depreciation expense, (d) amortization expense, (e) to the extent included in net income, non-cash, non-recurring charges, (f) to the extent included in net income, non-cash, recurring charges
related to equity compensation and (g) to the extent included in net income, loss on sale of accounts receivable pursuant to any receivables securitization program of the Borrower or any of its Subsidiaries, in each case determined in
accordance with GAAP for such period; provided, that for purposes of calculating EBITDA for the Borrower and its Subsidiaries (i) for any period, the EBITDA of any Person (or assets or division of such Person) acquired by the Borrower or
any of its Subsidiaries during such period shall be included on a pro forma basis for such period (assuming the consummation of such acquisition occurred on the first day of such period), (ii) for the period of four fiscal quarters ended
May 31, 2007, EBITDA of the Borrower and its Subsidiaries shall be calculated giving effect to the addition of cash restructuring charges incurred during such period in an amount not to exceed $123,000,000 and (iii) for the period of four
fiscal quarters ended August 31, 2007, EBITDA of the Borrower and its Subsidiaries shall be calculated giving effect to the addition of cash restructuring charges incurred during such period in an amount not to exceed $55,000,000. 

2. Waivers. (a) We hereby request that you waive, subject to the provisions hereof, solely for the period commencing on the date hereof
through the earlier of (x) August 1, 2007 and (y) the date that is 45 days after we receive a notice of default under the Indenture dated as of July 21, 2003 (the “Indenture”), between the Company and The Bank of
New York, as Trustee, by registered or certified mail from the trustee or by the holders of 25% of the principal amount of the securities outstanding thereunder (such earlier date being the “10-Q Waiver Termination Date”), the
requirements of Section 5.01(i)(i) of the Credit Agreement. 

 (b) We hereby request that you waive, subject to the provisions hereof, solely for the period commencing
on the date hereof through the earlier of (x) July 2, 2007 and (y) the 10-Q Waiver Termination Date (such earlier date being the “10-K Waiver Termination Date”), the requirements of Section 5.01(i)(ii) of the
Credit Agreement. 
 (c) We hereby further request that you waive, subject to the provisions hereof, solely for the period commencing on
December 14, 2006 through the 10-Q Waiver Termination Date, (i) any Default under Section 6.01(d) of the Credit Agreement resulting from the failure of the Company to comply with Sections 7.4 (reporting requirements) and 10.11(1)
(requirement to deliver an annual compliance certificate) of the Indenture, (ii) the requirements of Section 5.01(i)(iii) of the Credit Agreement as they relate to the giving of notice of the matters described herein and (iii) any
Default under Section 6.01(d) of the Credit Agreement resulting from noncompliance with the requirements of any similar notice provisions of (x) the Bridge Credit Agreement dated as of December 21, 2006 among the Company, the lenders
parties thereto and Citicorp North America, Inc, as administrative agent, (y) the Indenture and (z) the Receivables Purchase Agreement and the Receivables Sale Agreement, each dated as of February 25, 2004 among the Company and the
other parties thereto. 
 (d) On the 10-Q Waiver Termination Date or the 10-K Waiver Termination Date, as applicable, if the Company shall
not have delivered the information required to be delivered pursuant to Section 5.01(i)(i) or (ii) of the Credit Agreement in respect of the fiscal year ended August 31, 2006 or fiscal quarters ended November 30,
2006, February 28, 2007 and May 31, 2007 (but only if then required to be delivered), respectively, the applicable waiver contained herein shall terminate without any further action by the Agent and the Lenders, it shall be an Event
of Default under Section 6.01(c) or (d) of the Credit Agreement, as applicable, and the Agent and the Lenders shall have all of the rights and remedies afforded to them under the Credit Agreement and the Notes with respect to any such
Event of Default, as though no waiver had been granted by them hereunder. 
 3. Effectiveness, Etc. This Letter Amendment shall become
effective as of the date first above written when, and only when, the Agent shall have received counterparts of this Letter Amendment executed by the undersigned and the Required Lenders or, as to any of the Lenders, advice satisfactory to the Agent
that such Lender has executed this Letter Amendment. This Letter Amendment is subject to the provisions of Section 9.01 of the Credit Agreement. 
 On and after the effectiveness of this Letter Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit
Agreement, and each reference in the Notes to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended
by this Letter Amendment. 
 The Credit Agreement and the Notes, as specifically amended by this Letter Amendment, are and shall continue to
be in full force and effect and are hereby in all respects ratified and confirmed. The execution, delivery and effectiveness of this Letter Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy
of any Lender or the Agent under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement. 
  

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 If you agree to the terms and provisions hereof, please evidence such agreement by executing and
returning at least two counterparts of this Letter Amendment to Susan L. Hobart, Shearman & Sterling LLP, 599 Lexington Avenue, New York, New York 10022. 
 This Letter Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Letter Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Letter Amendment.

 This Letter Amendment shall be governed by, and construed in accordance with, the laws of the State of New York. 
  

			
	Very truly yours,
	JABIL CIRCUIT, INC.
		
	By	 	 /s/ Sergio Cadvid

	Title:	 	Treasurer
	
	Executed on May 1, 2007

 Agreed as of the date first above written: 
  

			
	CITICORP NORTH AMERICA, INC.,
	as Agent and as a Lender
		
	By	 	 /s/ Julio Ojea-Quintana

	Title:	 	Vice President
	
	Executed on April 24, 2007
	
	JPMORGAN CHASE BANK, N.A.
		
	By	 	 /s/ Steven Prichett

	Title:	 	Senior Vice President
	
	Executed on April 26, 2007
	
	ABN AMRO BANK N.V.
		
	By	 	 /s/ Thomas J. Bieke

	Title:	 	Attorney-in-Fact
		
	By	 	 /s/ Stephen Kantor

	Title:	 	Vice President
	
	Executed on April 30, 2007

  

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	THE ROYAL BANK OF SCOTLAND PLC
		
	By	 	 /s/ Eddie Dec

	Title:	 	Senior Vice President
	
	Executed on May 1, 2007
	
	SUNTRUST BANK
		
	By	 	 /s/

	Title: Managing Director
	
	Executed on April 30, 2007

  

 4Amendment No. 7 to Receivables Purchase Agreement

 EXHIBIT 10.29 
 AMENDMENT NO. 7 
 to 
 RECEIVABLES PURCHASE AGREEMENT 
 Dated as of February 21, 2007 
 THIS AMENDMENT NO. 7 (this “Amendment”) is entered into as of February 21, 2007 by and among Jabil Circuit Financial II, Inc., a
Delaware corporation (the “Seller”), Jabil Circuit, Inc., a Delaware corporation (the “Servicer”), Jupiter Securitization Corporation, formerly Jupiter Securitization Corporation (“Jupiter”),
the financial institutions party hereto (the “Financial Institutions”) and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA (Main Office Chicago)), as Agent (the “Agent”). 
 PRELIMINARY STATEMENTS 
 A. The Seller, the
Servicer, Jupiter, the Financial Institutions and the Agent are parties to that certain Receivables Purchase Agreement dated as of February 25, 2004 (as amended prior to the date hereof and as otherwise amended, restated, supplemented or
otherwise modified from time to time, the “RPA”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the RPA. 
 B. The Seller, the Servicer, Jupiter, the Financial Institutions and the Agent have agreed to extend the Liquidity Termination Date for an additional
364-day term on the terms and subject to the conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the premises set forth
above, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 Section 1. Amendments. Effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 2 below, the RPA is hereby amended as follows:

 (a) Section 1.2 of the RPA is hereby amended to delete the first sentence thereof and replace it with the following:

 Seller shall provide the Agent with at least one (1) Business Day’s prior notice in a form set forth as Exhibit II
hereto of each Incremental Purchase (a “Purchase Notice”). 
 (b) Exhibit I of the RPA is hereby amended to
delete the definition of “Liquidity Termination Date” contained therein in its entirety and replace it with the following: 
 “Liquidity Termination Date” means February 20, 2008. 
 Section 2. Conditions
Precedent. This Amendment shall become effective and be deemed effective, as of the date first above written, upon the latest to occur of (i) the date hereof, (ii) receipt by the Agent of one copy of this Amendment duly executed by
each of the 

 
parties hereto, and (iii) receipt by J.P. Morgan Securities Inc. of the amendment fee due to it in connection with this Amendment. 
 Section 3. Covenants, Representations and Warranties of the Seller and the Servicer. 
 (a) Upon the effectiveness of this Amendment, each of the Seller and the Servicer hereby reaffirms all covenants, representations and warranties made by
it in the RPA, as amended, and agrees that all such covenants, representations and warranties shall be deemed to have been re-made as of the effective date of this Amendment. 
 (b) Each of the Seller and the Servicer hereby represents and warrants as to itself (i) that this Amendment constitutes the legal, valid and binding
obligation of such party enforceable against such party in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights
generally and general principles of equity which may limit the availability of equitable remedies and (ii) upon the effectiveness of this Amendment, that no event shall have occurred and be continuing which constitutes an Amortization Event or
a Potential Amortization Event. 
 Section 4. Fees, Costs, Expenses and Taxes. Without limiting the rights of the Agent
and the Purchasers set forth in the RPA and the other Transaction Documents, the Seller agrees to pay on demand all reasonable fees and out-of-pocket expenses of counsel for the Agent and the Purchasers incurred in connection with the preparation,
execution and delivery of this Amendment and the other instruments and documents to be delivered in connection herewith and with respect to advising the Agent and the Purchasers as to their rights and responsibilities hereunder and thereunder.

 Section 5. Reference to and Effect on the RPA. 
 (a) Upon the effectiveness of this Amendment, each reference in the RPA to “this Agreement,” “hereunder,” “hereof,”
“herein,” “hereby” or words of like import shall mean and be a reference to the RPA as amended hereby, and each reference to the RPA in any other document, instrument or agreement executed and/or delivered in connection with the
RPA shall mean and be a reference to the RPA as amended hereby. 
 (b) Except as specifically amended hereby, the RPA and other documents,
instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Purchaser or the Agent under the RPA or any of the other Transaction Documents, nor
constitute a waiver of any provision contained therein. 
 Section 6. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF ILLINOIS. 
  

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 Section 7. Execution in Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. 
 Section 8. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute
a part of this Amendment for any other purpose. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed on the date first set
forth above by their respective officers thereto duly authorized, to be effective as hereinabove provided. 
  

			
	JABIL CIRCUIT FINANCIAL II, INC., as Seller
		
	By:	 	 /s/ Stephen Kerr

	Name:	 	Stephen Kerr
	Title:	 	Vice President and Secretary
	
	JABIL CIRCUIT, INC., as Servicer
		
	By:	 	 /s/ Sergio Cadavid

	Name:	 	Sergio Cadavid
	Title:	 	Treasurer

 Signature Page to Amendment No. 7 
 to Receivables Purchase Agreement 

			
	JUPITER SECURITIZATION COMPANY LLC (formerly Jupiter Securitization Corporation)
		
	By:	 	JPMorgan Chase Bank, N.A., as its attorney-in-fact
		
	By:	 	 /s/ Maureen Marcon

	Name:	 	Maureen Marcon
	Title:	 	Vice President
	
	JPMORGAN CHASE BANK, N.A. (successor by merger to Bank One, N.A. (Main Office Chicago)), as a Financial Institution and as Agent
		
	By:	 	 /s/ Maureen Marcon

	Name:	 	Maureen Marcon
	Title:	 	Vice President

 Signature Page to Amendment No. 7 
 to Receivables Purchase Agreement

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