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<P align="center"><FONT size="2">As filed with the Securities and Exchange Commission on December&nbsp;2, 2003
</FONT>
<div align="right"><FONT size="2">Registration No.&nbsp;333-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</FONT></div>


<P>
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<P align="center"><FONT size="4"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</FONT>

<DIV align="center"><FONT size="3"><B>WASHINGTON, D.C. 20549</B>
</FONT></DIV>

<P align="center"><FONT size="5"><B>FORM S-8</B>
</FONT>

<P align="center"><FONT size="2"><B>REGISTRATION STATEMENT UNDER THE<BR>
SECURITIES ACT OF 1933</B>
</FONT>
<P align="center"><FONT size="6"><B>PEROT SYSTEMS CORPORATION</B>
</FONT>

<DIV align="center"><FONT size="2">(Exact Name of Registrant as Specified in its Charter)</FONT></DIV>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%">

<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2"><B>Delaware</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>75-2230700</B></FONT></TD>
</TR>
<TR>
    <TD align="center" valign="top"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">(State or Other Jurisdiction of<BR>
Incorporation or Organization)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
(I.R.S. Employer<BR>
Identification Number)</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2"><B>2300 West Plano Parkway<BR>
Plano, Texas 75075</B><BR>
(Address, Including Zip Code, of Registrant&#146;s Principal Executive Office)
</FONT>
<P align="center"><FONT size="2"><B>NON-EMPLOYEE DIRECTOR STOCK IN LIEU OF RETAINER</B><BR>
(Full Title of the Plans)
</FONT>
<P align="center"><FONT size="2"><B>Peter A. Altabef<BR>
Vice President, General Counsel, and Secretary<BR>
Perot Systems Corporation<BR>
2300 West Plano Parkway<BR>
Plano, Texas 75075<BR>
(972)&nbsp;577-0000</B><BR>
(Name, Address and Telephone Number, Including Area Code, of Agent For Service)
</FONT>
<P align="center"><FONT size="2"><B>Copy to:<BR>
Glen J. Hettinger<BR>
Hughes &#038; Luce, LLP<BR>
1717 Main Street, Suite&nbsp;2800<BR>
Dallas, Texas 75201<BR>
214 939-5500</B>
</FONT>
<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B>
</FONT>

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

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    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
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    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Title of Securities</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to be</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>to be Registered</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered(1)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>per Share(2)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price(2)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left" colspan="17"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Class
A Common Stock, par
value $.01 per
share</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">83,375</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">12.24</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">1,020,510</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">82.56</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left" colspan="17"><HR size="1" noshade></TD>
</TR>
</TABLE>
</DIV>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(1)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Pursuant to Rule 416(c) under the Securities Act of 1933, as amended,
this Registration Statement also covers such indeterminable number of
additional shares of common stock as may become issuable pursuant to terms
designed to prevent dilution resulting from stock and splits, stock
dividends, merger or combination or similar events.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%" nowrap align="left"><FONT size="2">(2)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Estimated solely for the purpose of calculating the registration fee on
the basis of the average of the high and low price paid per share of Class
A common stock, $.01 par value per share, as reported on the New York
Stock Exchange on November&nbsp;28, 2003, in accordance with Rule 457(h)
promulgated under the Securities Act of 1933, as amended.
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;
</FONT>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">RISK FACTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">THE COMPANY</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">USE OF PROCEEDS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">SELLING STOCKHOLDERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">PLAN OF DISTRIBUTION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">LEGAL MATTERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">AVAILABLE INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">WHERE YOU CAN FIND MORE INFORMATION</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="d11001exv5w1.htm">EX-5.1 Opinion/Consent of Hughes & Luce, L.L.P.</A></TD></TR>
<TR><TD colspan="9"><A HREF="d11001exv23w1.htm">EX-23.1 Consent of PricewaterhouseCoopers LLP</A></TD></TR>
</TABLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>



<P align="center"><FONT size="2"><B>EXPLANATORY NOTE</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perot Systems Corporation (the &#147;Company&#148;) prepared this Registration
Statement in accordance with the requirements of Form S-8 under the Securities
Act of 1933, as amended, to register 83,375 shares of the Company&#146;s Class&nbsp;A
common stock, par value $.01 per share (&#147;Common Stock&#148;). Such shares of Common
Stock were issued or are issuable by the Company from time to time to
non-employee directors of the Company as full or partial payment of the $45,000
annual director fee payable by the Company in accordance with the resolutions
and related attachment of the Company&#146;s Board of Directors dated June&nbsp;3, 2003
(the &#147;Resolutions&#148;). This Registration Statement contains two parts. The
first part contains a prospectus prepared in accordance with Part&nbsp;I of Form S-8
(in accordance with Instruction C of the General Instructions to Form S-8)
which covers reoffers and resales of shares of the Common Stock issued pursuant
to the Resolutions. The second part contains information required in the
Registration Statement pursuant to Part&nbsp;II of Form S-8. Information required
by Part&nbsp;I of Form S-8 is omitted from this Registration Statement in accordance
with Rule&nbsp;428 under the Securities Act of 1933, as amended, and the &#147;Note&#148; to
Part&nbsp;I of Form S-8.
</FONT>
<P align="center"><FONT size="2"><B>PROSPECTUS</B>
</FONT>
<P align="center"><FONT size="2">&nbsp;
</FONT>
<P align="center"><FONT size="2"><B>December&nbsp;2, 2003</B>
</FONT>
<P align="center"><FONT size="2"><B>83,375 Shares</B>
</FONT>
<P align="center"><FONT size="2"><B>PEROT SYSTEMS CORPORATION</B>
</FONT>
<P align="center"><FONT size="2"><B>CLASS A COMMON STOCK</B>
</FONT>
<P align="left"><FONT size="2"><B>This prospectus relates to the resale by the selling stockholders identified in
this prospectus and our former, current and future non-employee directors
(together, we refer to them as the &#147;Selling Stockholders&#148;) of 83,375 shares of
our Class&nbsp;A common stock, par value $.01 per share. Such shares of Class&nbsp;A
Common Stock consist of (1)&nbsp;3,375 shares of restricted stock previously issued
to certain Selling Stockholders as full or partial payment of the $45,000
annual director fee payable by the Company (the &#147;Director Fee&#148;) (such fee to be
payable in quarterly installments and in arrears) in accordance with the
resolutions and related attachment of the Company&#146;s Board of Directors dated
June&nbsp;3, 2003 (the &#147;Resolutions&#148;), and (2)&nbsp;80,000 shares reserved for issuance
by the Company from time to time to the Selling Stockholders as full or partial
payment for the Director Fee payable by the Company in accordance with the
Resolutions. Pursuant to the Resolutions, each non-employee director may elect
to receive all or part of his or her Director Fee in the form of Company Class
A common stock versus payment in cash. The Class&nbsp;A common stock will be valued
at the closing price listed on the New York Stock Exchange on the last trading
day of the quarter for which payment of the Director Fee is due.</B>
</FONT>

<P align="left"><FONT size="2"><B>We will pay all expenses of the offering. We will not pay any underwriting
discounts or commissions in connection with the issuance or sale of any shares.</B>
</FONT>

<P align="left"><FONT size="2"><B>Our Class&nbsp;A common stock is listed on the New York Stock Exchange under the
symbol PER. On November&nbsp;28, 2003, the closing price of one share of our Class
A common stock on the New York Stock Exchange was $12.40.</B>
</FONT>

<P align="left"><FONT size="2"><B>BEFORE PURCHASING SHARES OF OUR COMMON STOCK YOU SHOULD CAREFULLY REVIEW THE
RISK FACTORS SECTION OF THIS PROSPECTUS, WHICH BEGINS ON PAGE 3.</B>
</FONT>

<P align="left"><FONT size="2"><B>NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS
A CRIMINAL OFFENSE.</B>
</FONT>

<P align="center"><FONT size="2">The date of this prospectus is December&nbsp;2, 2003
</FONT>


<P align="center"><FONT size="2">&nbsp;
</FONT>
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<P align="left"><FONT size="2">THIS PROSPECTUS INCORPORATES IMPORTANT BUSINESS AND FINANCIAL INFORMATION THAT
IS NOT INCLUDED IN OR DELIVERED WITH THIS PROSPECTUS. THIS INFORMATION IS
AVAILABLE WITHOUT CHARGE TO SECURITY HOLDERS UPON ORAL OR WRITTEN REQUEST TO
PEROT SYSTEMS CORPORATION, 2300 WEST PLANO PARKWAY, PLANO, TEXAS 75075,
ATTENTION: INVESTOR RELATIONS (TEL. (877)&nbsp;737-6973). TO ENSURE TIMELY
DELIVERY OF THE INFORMATION, PLEASE MAKE ANY REQUEST AT LEAST FIVE DAYS BEFORE
THE DAY YOU MUST MAKE YOUR INVESTMENT DECISION. SEE &#147;WHERE YOU CAN FIND MORE
INFORMATION.&#148;
</FONT>

<P align="left"><FONT size="2"><B>WE HAVE NOT AUTHORIZED ANY PERSON TO PROVIDE INFORMATION OR MAKE ANY
REPRESENTATION ABOUT THIS OFFERING THAT IS NOT IN THIS PROSPECTUS. PROSPECTIVE
INVESTORS SHOULD RELY ONLY ON THE INFORMATION CONTAINED IN THIS PROSPECTUS.
THIS PROSPECTUS IS NOT AN OFFER TO SELL NOR IS IT SEEKING AN OFFER TO BUY THESE
SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS PROHIBITED.
INFORMATION IN THIS PROSPECTUS IS CORRECT ONLY AS OF ITS DATE, REGARDLESS OF
WHEN ANY LATER OFFER OR SALE OCCURS.</B>
</FONT>

<P align="center"><FONT size="2"><B>TABLE OF CONTENTS</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">

<TR valign="bottom">
    <TD width="92%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">RISK FACTORS</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">THE COMPANY</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">9</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">USE OF PROCEEDS</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">SELLING STOCKHOLDERS</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">PLAN OF DISTRIBUTION</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">LEGAL MATTERS</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">10</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">AVAILABLE INFORMATION</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">WHERE YOU CAN FIND MORE INFORMATION</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">11</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="left"><FONT size="2">Our principal executive offices are located at 2300 West Plano Parkway, Plano
Texas 75075. Our telephone number is (972)&nbsp;577-0000 and our website is
www.perotsystems.com.
</FONT>

<P align="center"><FONT size="2">2
</FONT>
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<!-- link1 "RISK FACTORS" -->
<DIV align="left"><A NAME="000"></A></DIV>
<DIV align="left"><A name="a000"></A></DIV>
<P align="center"><FONT size="2"><B>RISK FACTORS</B>
</FONT>

<P align="left"><FONT size="2">An investment in our Class&nbsp;A common stock involves a high degree of risk. In
addition to the other information in this prospectus, you should carefully
consider the following risk factors in evaluating an investment in our Class&nbsp;A
common stock. This prospectus contains &#147;forward-looking statements&#148; about our
operations, economic performance and financial condition, including, in
particular, the likelihood of our success in developing and expanding our
business. These statements are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties and
contingencies, many of which are beyond our control, and reflect future
business decisions that are subject to change. The risks described below are
not the only ones facing our Company. Additional risks that we do not yet know
of or that we currently think are immaterial may also impair our business
operations. If any of the following risks actually occurs, our business,
financial condition, or results of operations could be materially and adversely
affected. In such case, the trading price of our Class&nbsp;A common stock could
decline, and you may lose all or part of your investment.
</FONT>

<P align="left"><FONT size="2">In addition, we specifically direct you to our public filings, which are
available from the Securities and Exchange Commission as described under the
captions &#147;Available Information&#148; and &#147;Where You Can Find More Information.&#148;
These public filings will discuss other potential risk factors that may arise
in the future.
</FONT>

<P align="left"><FONT size="2"><B>THE TERM OF AND POSSIBLE CHANGES IN OUR UBS RELATIONSHIP AND VARIABILITY OF
PROFITS FROM UBS COULD ADVERSELY AFFECT OUR BUSINESS</B>
</FONT>

<P align="left"><FONT size="2">Our largest customer is UBS. During 2002, our UBS relationship generated
$249.8&nbsp;million or 18.7% of our revenue. The contract that covers most of our
business with UBS is scheduled to end in January&nbsp;2007. We have amended this
contract from time to time during its term and we may consider additional
changes to this contract, which may affect future revenue and profits from UBS.
We cannot provide any assurance that our UBS relationship will extend beyond
January&nbsp;2007 or that our current relationship with UBS will continue on the
current terms in the future.
</FONT>

<P align="left"><FONT size="2">Revenue that we derive from our UBS relationship depends upon the level of
services we perform, which may vary from period to period depending on UBS&#146;s
requirements. In addition, the agreement with UBS that covers most of our
business with UBS entitles us to recover our costs plus an annual fixed fee,
with a bonus or penalty that can cause this annual fee to vary up or down by as
much as 13%, depending on our level of performance as determined by UBS.
Determination of whether our performance merits a bonus or a penalty depends on
many objective and subjective factors, including service quality, product
delivery, customer satisfaction, cost effectiveness, and corporate level
support.
</FONT>

<P align="left"><FONT size="2"><B>RISKS ASSOCIATED WITH NON-RECOVERABLE COST OVERRUNS ON SOFTWARE DEVELOPMENT
CONTRACTS COULD ADVERSELY AFFECT OUR PROFITS</B>
</FONT>

<P align="left"><FONT size="2">We develop custom software applications for some of our customers. The effort
and cost associated with the completion of a software development project is
difficult to estimate and, in some cases, may significantly exceed the estimate
made at the time we begin the project. We provide most of our software
development projects under level-of-effort contracts, usually based on time and
materials or direct costs plus a fee. Under those arrangements, we are able to
bill our customer based on the actual cost of completing the software
development project, even if the ultimate cost of the project exceeds our
initial estimates. However, if the ultimate cost exceeds our initial estimate
by a significant amount, we may have difficulty collecting the full amount that
we are due under the contract, depending upon many factors, including the
reasons for the increase in cost, our communication with the customer
throughout the project and the customer&#146;s satisfaction with the developed
software. As a result, we could incur losses with respect to software
development projects even when they are priced on a level-of-effort basis. If
we provide a software development project under a fixed-price contract, we bear
all the risk that the ultimate cost of the project will exceed the price to be
charged to the customer.
</FONT>

<P align="left"><FONT size="2"><B>LOSS OF MAJOR CUSTOMERS COULD ADVERSELY AFFECT OUR BUSINESS</B>
</FONT>

<P align="left"><FONT size="2">Our five largest customers accounted for approximately 46.4% of our revenue for
2002 and approximately 46.5% of our revenue in 2001. UBS was the only customer
that accounted for more than 10% of our revenue for 2002 and 2001.
</FONT>

<P align="center"><FONT size="2">3
</FONT>
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<P align="left"><FONT size="2">After UBS our next four largest customers accounted for approximately 27.7% of
our revenue in 2002 and 22.4% of our revenue in 2001. Our success depends
substantially upon the retention of UBS and a majority of our other major
customers as ongoing customers. Generally, we may lose a customer as a result
of a merger or acquisition, contract expiration, the selection of another
provider of information technology services, business failure or bankruptcy, or
our performance. We may not retain long-term relationships or secure renewals
of short-term relationships with our major customers in the future.
</FONT>

<P align="left"><FONT size="2"><B>OUR FINANCIAL RESULTS COULD BE ADVERSELY AFFECTED BY THE PERFORMANCE OR
LIABILITIES OF ACQUIRED ENTITIES</B>
</FONT>

<P align="left"><FONT size="2">In connection with any acquisition made by us, there may be liabilities that we
fail to discover or that we inadequately assess. To the extent that the
acquired entity failed to fulfill any of its contractual obligations, we may be
financially responsible for these failures or otherwise be adversely affected.
In addition, acquired entities may not perform according to the forecasts that
we used to determine the price paid for the acquisition. If the acquired
entity fails to achieve these forecasts, our financial condition and operating
results may be adversely affected.
</FONT>

<P align="left"><FONT size="2"><B>RISKS ASSOCIATED WITH SOFTWARE PRODUCTS COULD ADVERSELY AFFECT OUR FINANCIAL
CONDITION</B>
</FONT>

<P align="left"><FONT size="2">Our business has risks associated with the development of software products.
There is the risk that capitalized costs of development may not be fully
recovered if the market for our products or the ability of our products to
capture a portion of the market differs materially from our estimates. In
addition, there is the risk that the cost of product development differs
materially from our estimates or a delay in product introduction may reduce the
portion of the market captured by our product.
</FONT>

<P align="left"><FONT size="2"><B>ACQUISITIONS MAY DISRUPT OR HAVE A NEGATIVE IMPACT ON OUR BUSINESS</B>
</FONT>

<P align="left"><FONT size="2">We have completed several acquisitions in recent years and we will continue to
analyze and consider potential acquisition candidates. Acquisitions involve
numerous risks, including the following:
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">companies we acquire may have a lower quality of internal controls and reporting standards;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">we may have difficulty integrating the systems and operations of acquired businesses;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">integration of an acquired business may divert our attention from
normal daily operations of the business; and
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">we may not be able to retain key employees of the acquired
business.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">Mergers and acquisitions of companies are inherently risky, and we can give no
assurance that our acquisitions will be successful and will not materially
adversely affect our business, operating results or financial condition.
</FONT>

<P align="left"><FONT size="2"><B>OUR CONTRACTS CONTAIN TERMINATION PROVISIONS AND PRICING RISKS WHICH AFFECT OUR
REVENUE AND PROFIT</B>
</FONT>

<P align="left"><FONT size="2">Some of our contracts with customers permit termination in the event our
performance is not consistent with service levels specified in those contracts.
The ability of our customers to terminate contracts creates an uncertain
revenue stream. If customers are not satisfied with our level of performance,
our reputation in the industry may suffer, which may also materially and
adversely affect our business, financial condition, and results of operations.
</FONT>

<P align="left"><FONT size="2">Some of our contracts contain pricing provisions that require the payment of a
set fee by the customer for our services regardless of the costs we incur in
performing these services, or provide for penalties in the event we fail to
achieve certain contract standards. In such situations, we are exposed to the
risk that we will incur significant unforeseen costs or such penalties in
performing the contract.
</FONT>

<P align="left"><FONT size="2"><B>WE HAVE NUMEROUS RISKS RELATED TO INTERNATIONAL OPERATIONS</B>
</FONT>

<P align="left"><FONT size="2">We have operations in many countries around the world. Risks that affect these international operations include:
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">fluctuations in currency exchange rates may adversely affect the results of foreign operations;
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">4
</FONT>
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<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">complicated licensing and work permit requirements may hinder our
ability to operate in some jurisdictions;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">our intellectual property rights may not be well protected in some jurisdictions;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">our operations may be vulnerable to terrorist actions or harmed by government responses;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">governments may restrict our ability to convert currencies; and
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">additional expenses and risks inherent in conducting operations in
geographically distant locations, with customers speaking different
languages and having different cultural approaches to the conduct of
business.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">To attempt to mitigate the effects of foreign currency fluctuations, we
sometimes use forward exchange contracts and other hedging techniques.
However, generally we do not hedge foreign exchange exposures that are not
likely to impact net income or working capital.
</FONT>

<P align="left"><FONT size="2"><B>WE FACE RISKS RELATING TO GOVERNMENT CONTRACTS</B>
</FONT>

<P align="left"><FONT size="2">Perot Systems Government Services provides services as a contractor and
subcontractor on various projects with U.S. government entities. Despite the
fact that a number of government projects for which we serve as a contractor or
subcontractor are planned as multi-year projects, the U.S. government normally
funds these projects on an annual or more frequent basis. Generally, the
government has the right to change the scope of, or terminate, these projects
at its convenience. The termination or a major reduction in the scope of a
major government project could have a material adverse effect on our results of
operations and financial condition.
</FONT>

<P align="left"><FONT size="2">U.S. government entities audit our contract costs, including allocated indirect
costs, or conduct inquiries and investigations of our business practices with
respect to our government contracts. If the government finds that we
improperly charged any costs to a contract, the costs are not reimbursable or,
if already reimbursed, the cost must be refunded to the government. If the
government discovers improper or illegal activities in the course of audits or
investigations, the contractor may be subject to various civil and criminal
penalties and administrative sanctions, which may include termination of
contracts, forfeiture of profits, suspension of payments, fines and suspensions
or debarment from doing business with the U.S. government. These government
remedies could have a material adverse effect on our results of operations and
financial condition.
</FONT>

<P align="left"><FONT size="2"><B>CUSTOMERS MAY REDUCE SPENDING THAT IS CURRENTLY ABOVE CONTRACTUAL MINIMUMS</B>
</FONT>

<P align="left"><FONT size="2">Some of our outsourcing customers request services in excess of the minimum
level of services required by the contract. These services are often in the
form of project work and are discretionary to our customers. Our customers&#146;
ability to continue discretionary project spending may depend on a number of
factors including, but not limited to, their financial condition, and industry
and strategic direction. Spending above contractual minimums by customers
could end with limited notice and result in lower revenue and earnings.
</FONT>

<P align="left"><FONT size="2"><B>WE OPERATE IN HIGHLY COMPETITIVE MARKETS</B>
</FONT>

<P align="left"><FONT size="2">Our markets are intensely competitive. Customer requirements and the
technology available to satisfy those requirements continually change.
</FONT>

<P align="left"><FONT size="2">We compete with a number of different information technology service providers
depending upon the region, country, and/or market we are addressing. Some of
our more frequent competitors include: Accenture, Affiliated Computer
Services, Inc., Anteon International Corporation, Bearingpoint, Inc., Cap
Gemini Ernst &#038; Young, CACI International, Inc., CGI Group, Inc., Computer
Sciences Corporation, Electronic Data Systems Corporation, Hewlett Packard
Company, IBM Global Services (a division of International Business Machines
Corporation), McKesson Corporation, Science Applications International
Corporation, and Seimens Business Services, Inc. As we enter new markets, we
expect to encounter additional competitors.
</FONT>

<P align="left"><FONT size="2">We compete on the basis of a number of factors, including the attractiveness
and breadth of the business strategy and services that we offer, pricing,
technological innovation, quality of service, ability to invest in or acquire
assets of potential customers and our scale in certain industries or
geographies. Because some of these factors are outside of our control and
because many of our competitors may have greater financial resources, larger
customer bases, and larger technical sales and marketing resources, we cannot
be sure that we will compete successfully against them in
the future. If we fail to compete successfully against our competitors with
respect to these or other factors, our business, financial condition, and
results of operations will be materially and adversely affected.
</FONT>

<P align="center"><FONT size="2">5
</FONT>
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<P align="left"><FONT size="2">We must frequently compete with our customer&#146;s own internal information
technology capability, which may constitute a fixed cost for the customer.
This may increase pricing pressure on us. If we are forced to lower our
pricing or if demand for our services decreases, our business, financial
condition, and results of operations will be materially and adversely affected.
</FONT>

<P align="left"><FONT size="2"><B>INCREASINGLY COMPLEX REGULATORY ENVIRONMENTS MAY INCREASE OUR RISK AND OUR
COSTS</B>
</FONT>

<P align="left"><FONT size="2">Increasingly complex regulatory environments affect a number of our services.
As an example, changes in healthcare information privacy laws and regulations
may increase our risk of liability and increase the cost of some services we
offer in our healthcare industry group.
</FONT>

<P align="left"><FONT size="2"><B>OUR QUARTERLY OPERATING RESULTS MAY VARY</B>
</FONT>

<P align="left"><FONT size="2">We expect our revenue and operating results to vary from quarter to quarter.
Such variations are likely to be caused by many factors that are, to some
extent, outside our control, including:
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">mix and timing of customer projects;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">completing customer projects;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">hiring, integrating, and utilizing associates;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">timing of new contracts;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">issuance of common shares and options to associates; and
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">costs to exit certain activities.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">Accordingly, we believe that quarter-to-quarter comparisons of operating
results for preceding quarters are not necessarily meaningful. You should not
rely on the results of one quarter as an indication of our future performance.
</FONT>

<P align="left"><FONT size="2"><B>LOSS OF KEY PERSONNEL COULD ADVERSELY AFFECT OUR BUSINESS</B>
</FONT>

<P align="left"><FONT size="2">Our success depends largely on the skills, experience, and performance of some
key members of our management, including our Chairman, Ross Perot, and our
President and Chief Executive Officer, Ross Perot, Jr. The loss of any key
members of our management may materially and adversely affect our business,
financial condition, and results of operations.
</FONT>

<P align="left"><FONT size="2"><B>CHANGES IN TECHNOLOGY COULD ADVERSELY AFFECT OUR BUSINESS</B>
</FONT>

<P align="left"><FONT size="2">The markets for our information technology services change rapidly because of
technological innovation, new product introductions, changes in customer
requirements, declining prices, and evolving industry standards, among other
factors. New products and new technology often render existing information
services or technology infrastructure obsolete, excessively costly, or
otherwise unmarketable. As a result, our success depends on our ability to
timely innovate and integrate new technologies into our service offerings. We
cannot guarantee that we will be successful at adopting and integrating new
technologies into our service offerings in a timely manner.
</FONT>

<P align="left"><FONT size="2"><B>ROSS PEROT HAS SUBSTANTIAL CONTROL OVER OUR COMPANY</B>
</FONT>

<P align="left"><FONT size="2">Ross Perot, our Chairman, is the managing general partner of HWGA, Ltd., a
partnership that owned 31,705,000 shares of our Class&nbsp;A common stock as of
December&nbsp;31, 2002. Mr.&nbsp;Perot also beneficially owns 54,100 shares of our Class
A common stock. Accordingly, Mr.&nbsp;Perot, primarily through HWGA, Ltd., controls
approximately 30% of our outstanding voting common stock. As a result, Mr.
Perot, through HWGA, Ltd., effectively has the power to block corporate actions
such as an amendment to our Certificate of Incorporation, a change of control
or the sale of all or substantially all of our assets. In addition, Mr.&nbsp;Perot
may significantly influence the election of directors and any other action
requiring stockholder approval. The other general partner of HWGA, Ltd. is
Ross Perot, Jr., our President and Chief Executive Officer, who has the
authority to manage the partnership and direct the voting or sale
of the shares of our Class&nbsp;A common stock held by HWGA, Ltd. if Mr.&nbsp;Perot is no
longer the managing general partner.
</FONT>

<P align="center"><FONT size="2">6
</FONT>
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<P align="left"><FONT size="2"><B>WE COULD LOSE RIGHTS TO OUR COMPANY NAME</B>
</FONT>

<P align="left"><FONT size="2">We do not own the right to our company name. In 1988, we entered into a
license agreement with Ross Perot, our Chairman, and the Perot Systems Family
Corporation that allows us to use the name &#147;Perot&#148; and &#147;Perot Systems&#148; in our
business on a royalty-free basis. Mr.&nbsp;Perot and the Perot Systems Family
Corporation may terminate this agreement at any time and for any reason.
Beginning one year following such a termination, we would not be allowed to use
the names &#147;Perot&#148; or &#147;Perot Systems&#148; in our business. Mr.&nbsp;Perot&#146;s or the Perot
Systems Family Corporation&#146;s termination of our license agreement could
materially and adversely affect our business, financial condition, and results
of operations.
</FONT>

<P align="left"><FONT size="2"><B>FAILURE TO RECRUIT, TRAIN, AND RETAIN SKILLED PERSONNEL COULD INCREASE COSTS OR
LIMIT GROWTH</B>
</FONT>

<P align="left"><FONT size="2">We must continue to hire and train technically skilled people in order to
perform services under our existing contracts and new contracts into which we
will enter. The people capable of filling these positions have historically
been in great demand, and recruiting and training such personnel requires
substantial resources. We may be required to pay an increasing amount to hire
and retain a technically skilled workforce. In addition, during periods in
which demand for technically skilled resources is great, our business may
experience significant turnover. These factors could create variations and
uncertainties in our compensation expense and efficiencies that could directly
affect our profits. If we fail to recruit, train, and retain sufficient
numbers of these technically skilled people, our business, financial condition,
and results of operations may be materially and adversely affected.
</FONT>

<P align="left"><FONT size="2"><B>ALLEGED OR ACTUAL INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS COULD RESULT IN
SUBSTANTIAL ADDITIONAL COSTS</B>
</FONT>

<P align="left"><FONT size="2">Our suppliers, customers, competitors and others may have or obtain patents and
other proprietary rights that cover technology we employ. We are not, and
cannot be, aware of all patents or other intellectual property rights of which
our services may pose a risk of infringement. Others asserting rights against
us could force us to defend ourselves or our customers against alleged
infringement of intellectual property rights. We could incur substantial costs
to prosecute or defend any intellectual property litigation and we could be
forced to do one or more of the following:
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">cease selling or using products or services that incorporate the
disputed technology;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">obtain from the holder of the infringed intellectual property right
a license to sell or use the relevant technology; or
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">redesign those services or products that incorporate such
technology.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2"><B>PROVISIONS OF OUR CERTIFICATE OF INCORPORATION, BYLAWS, STOCKHOLDERS&#146; RIGHTS
PLAN AND DELAWARE LAW COULD DETER TAKEOVER ATTEMPTS</B>
</FONT>

<P align="left"><FONT size="2">Our Board of Directors may issue up to 5,000,000 shares of preferred stock and
may determine the price, rights, preferences, privileges, and restrictions,
including voting and conversion rights, of these shares of preferred stock
without any further vote or action by our stockholders. The rights of the
holders of common stock will be subject to, and may be adversely affected by,
the rights of the holders of any preferred stock that may be issued in the
future. The issuance of preferred stock may make it more difficult for a third
party to acquire a majority of our outstanding voting stock.
</FONT>

<P align="left"><FONT size="2">In addition, we have adopted a stockholders&#146; rights plan. Under this plan,
after the occurrence of specified events that may result in a change of
control, our stockholders will be able to buy stock from us or our successor at
half the then current market price. These rights will not extend, however, to
persons participating in takeover attempts without the consent of our Board of
Directors or that our Board of Directors determines to be adverse to the
interests of the stockholders. Accordingly, this plan could deter takeover
attempts.
</FONT>

<P align="left"><FONT size="2">Some provisions of our Certificate of Incorporation and Bylaws and of Delaware
General Corporation Law could also delay, prevent, or make more difficult a
merger, tender offer, or proxy contest involving our company. Among other
things, these provisions:
</FONT>

<P align="center"><FONT size="2">7
</FONT>
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<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">require a 66 2/3% vote of the stockholders to amend our Certificate
of Incorporation or approve any merger or sale, lease, or exchange of
all or substantially all of our property and assets;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">require an 80% vote for stockholders to amend our Bylaws;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">require advance notice for stockholder proposals and director
nominations to be considered at a vote of a meeting of stockholders;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">permit only our Chairman, President, or a majority of our Board of
Directors to call stockholder meetings, unless our Board of Directors
otherwise approves;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">prohibit actions by stockholders without a meeting, unless our
Board of Directors otherwise approves; and
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">limit transactions between our company and persons that acquire
significant amounts of stock without approval of our Board of
Directors.
</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">8
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "THE COMPANY" -->
<DIV align="left"><A NAME="001"></A></DIV>
<DIV align="left"><A name="a001"></A></DIV>
<P align="center"><FONT size="2"><B>THE COMPANY</B>
</FONT>

<P align="left"><FONT size="2">We are a worldwide provider of information technology (commonly referred to as
IT) services and business solutions to a broad range of customers. We offer
our customers integrated solutions designed around their specific business
objectives, chosen from a breadth of services, including technology
outsourcing, business process outsourcing, development and integration of
systems and applications, and business and technology consulting services.
</FONT>

<P align="left"><FONT size="2">With this approach, our customers benefit from integrated service offerings
that help synchronize their strategy, systems, and infrastructure. As a
result, we help our customers achieve their business objectives, whether those
objectives are to accelerate growth, streamline operations, or enhance customer
service capabilities.
</FONT>

<P align="left"><FONT size="2">Our customers may contract with us for any one or more of our services, which
fall into the following categories:
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">IT Outsourcing Services &#151; includes multi-year contracts in which we
assume operational responsibility for various aspects of our customers&#146;
businesses, including application systems, technology infrastructure,
and some back office functions. We typically hire a significant
portion of the customers&#146; staff that has supported these functions. We
then apply our expertise and operating methodologies to increase the
efficiency of the operations, which usually results in increased
operational quality at a lower cost. Our IT outsourcing contracts are
priced using a variety of mechanisms, including level-of-effort, direct
costs plus a fee (which may be either a fixed amount or a percentage of
direct costs incurred), fixed-price, unit price, and risk/reward.
Depending on a customer&#146;s business requirements and the pricing
structure of the contract, the cash flows from a contract can vary
significantly during a contract&#146;s term. With fixed-price contracts or
when an upfront payment is required to purchase assets, an IT
outsourcing contract will typically produce less cash flow at the
beginning of the contract with significantly more cash flow generated
as efficiencies are realized later in the term. With a cost plus
contract, the cash flows tend to be relatively consistent over the term
of the contract.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">Business Process Services &#151; includes services such as claims
processing, revenue cycle management, travel agent commission
settlement, and engineering services, which we offer on a stand-alone
basis. We classify our Business Process Services in three categories:
transaction processing services, clerical services, and professional
services related to non-technical functions.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">Consulting Services &#151; includes services such as management
consulting, IT strategy, business process design, and system
implementation services, which we offer to customers typically on a
short-term basis.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">We offer our services under three primary lines of business&#151;IT Solutions,
Government Services and Consulting.
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">IT Solutions, our largest line of business, provides services to
our customers primarily under long-term contracts in strategic
relationships. These services include technology and business process
services, as well as industry domain-based, short-term project and
consulting services. Within IT Solutions, we face the market through
our four vertical industry groups&#151;Healthcare, Financial Services,
Industrial Services and Strategic Markets. Supporting these vertical
industry groups is our Global Infrastructure Services group, the
delivery organization for our technology outsourcing services and our
network and system operations services.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">Perot Systems Government Services was formed in July of 2002. This
line of business provides consulting and technology-based business
process solutions for the Department of Defense, law enforcement
agencies, and other governmental agencies.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">Our Consulting line of business includes Solutions Consulting LLC,
a company that we acquired in 2000, and our Global Software Services
group. This line of business provides our customers high-value and
repeatable services related to business and technical expertise and the
design and implementation of business and software solutions, primarily
under short-term contracts related to specific projects.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">We consider these three lines of business to be reportable segments and include
financial information and disclosures about these reportable segments in our
consolidated financial statements.
</FONT>

<P align="left"><FONT size="2">Ross Perot and eight associates founded Perot Systems Corporation in June&nbsp;1988.
Our principal executive offices are located at 2300 West Plano Parkway, Plano,
Texas 75075. Our telephone number is (972)&nbsp;577-0000 and our website is
www.perotsystems.com.
</FONT>

<P align="center"><FONT size="2">9
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "USE OF PROCEEDS" -->
<DIV align="left"><A NAME="002"></A></DIV>
<DIV align="left"><A name="a002"></A></DIV>
<P align="center"><FONT size="2"><B>USE OF PROCEEDS</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares of our Class&nbsp;A common stock which may be sold pursuant to this
prospectus will be sold by the Selling Stockholders for their own accounts and
we will not receive any proceeds from any such sales.
</FONT>
<!-- link1 "SELLING STOCKHOLDERS" -->
<DIV align="left"><A NAME="003"></A></DIV>
<DIV align="left"><A name="a003"></A></DIV>
<P align="center"><FONT size="2"><B>SELLING STOCKHOLDERS</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,375 shares of Class&nbsp;A common stock offered under this prospectus are
being registered for resale by certain Selling Stockholders who have previously
elected to receive shares of the Company&#146;s Class&nbsp;A common stock as full or
partial payment of the Director Fee payable by the Company. We have and will
continue to offer our non-employee directors the option to receive all or
partial payment of their Director Fee in Company Class&nbsp;A common stock. The
remaining 80,000 shares of Class&nbsp;A common stock offered by the Selling
Stockholders through this prospectus will be obtained at the election of the
Selling Stockholders in accordance with the Resolutions.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below sets forth information with respect to the beneficial
ownership of Class&nbsp;A common stock by certain Selling Stockholders immediately
prior to this offering and as adjusted to reflect the sale of all of the shares
of Class&nbsp;A common stock registered under this Registration Statement pursuant
to the offering. However, the Selling Stockholders named in the following
table may resell all, a portion of, or none of the shares they hold.
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="41%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Number of Shares</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Number of Shares</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Beneficially</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Shares Being</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Beneficially</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Name of Beneficial Owner</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Owned Prior to Offering</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offered(1)</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Owned After Offering(1)</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Steve Blasnik</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7,125</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,125</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Carl Hahn</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">86,125</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,125</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">85,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Thomas Meurer</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">5,125</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,125</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">4,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Total</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">98,375</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3,375</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">95,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</DIV>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="4%" nowrap align="left"><FONT size="2">(1)
</FONT></TD>
 <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
 <TD><FONT size="2">Assumes that the Selling Stockholders set forth above offer for sale all
1,125 shares of Class&nbsp;A common stock currently owned by each of them and
which are registered under this Registration Statement as of the date of
this prospectus.
</FONT></TD>
</TR>
</TABLE>
<!-- link1 "PLAN OF DISTRIBUTION" -->
<DIV align="left"><A NAME="004"></A></DIV>
<DIV align="left"><A name="a004"></A></DIV>
<P align="center"><FONT size="2"><B>PLAN OF DISTRIBUTION</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Selling Stockholders have not advised us of any specific plans for the
sale of the shares offered under this prospectus but, if and when such shares
are sold, it is anticipated that the sale of the shares may be effected from
time to time on the New York Stock Exchange at prevailing prices or at
negotiated prices. The Selling Stockholders may also sell shares of our Class
A common stock in private transactions or in the over-the-counter market at
prices related to the prevailing prices of the shares on the New York Stock
Exchange.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If shares are sold through brokers, the Selling Stockholders may pay
customary brokerage commissions and charges. The Selling Stockholders may
effect these transactions by selling shares to or through broker-dealers and
such broker-dealers may receive compensation in the form of discounts,
concessions or commissions from the Selling Stockholder and or the purchaser of
the shares so sold for whom such broker-dealers may act or to whom they may
sell as principal or both (which compensation, as to a particular
broker-dealer, may be in excess of customary commissions).
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the sale of the shares of Class&nbsp;A common stock, the
Selling Stockholders and any participating broker or dealer may be deemed to be
&#147;underwriters&#148; within the meaning of the Securities Act of 1933, as amended
(the &#147;Securities Act&#148;), and any profits on the sale of the shares of Class&nbsp;A
common stock or commissions they receive may be deemed to be underwriting
discounts and commissions under the Securities Act.
</FONT>
<!-- link1 "LEGAL MATTERS" -->
<DIV align="left"><A NAME="005"></A></DIV>
<DIV align="left"><A name="a005"></A></DIV>
<P align="center"><FONT size="2"><B>LEGAL MATTERS</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the Class&nbsp;A common stock will be passed upon for us by
Hughes &#038; Luce, LLP, Dallas, Texas.
</FONT>
<P align="center"><FONT size="2">10
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "AVAILABLE INFORMATION" -->
<DIV align="left"><A NAME="006"></A></DIV>
<DIV align="left"><A name="a006"></A></DIV>
<P align="center"><FONT size="2"><B>AVAILABLE INFORMATION</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We file annual, quarterly and special reports, proxy statements, and other
information with the Securities and Exchange Commission. You may read and copy
any documents we file with the Securities Exchange Commission at the Securities
Exchange Commission&#146;s Public Reference Room at 450 Fifth Street, N.W.,
Washington, D.C. 20549. Please call the Securities Exchange Commission at
1-800-SEC-0330 for further information on the operation of the Public Reference
Room. Our Securities Exchange Commission filings are also available to the
public from the Securities Exchange Commission&#146;s website at http://www.sec.gov.
Our common stock is listed on the New York Stock Exchange under the symbol PER
and the periodic reports, proxy statements, and other information we file with
the Securities Exchange Commission may also be inspected at the offices of the
New York Stock Exchange at 20 Broad Street, New York, New York 10005.
</FONT>
<!-- link1 "WHERE YOU CAN FIND MORE INFORMATION" -->
<DIV align="left"><A NAME="007"></A></DIV>
<DIV align="left"><A name="a007"></A></DIV>
<P align="center"><FONT size="2"><B>WHERE YOU CAN FIND MORE INFORMATION</B>
</FONT>

<P align="left"><FONT size="2">The Securities Exchange Commission allows us to &#147;incorporate by reference&#148; the
information we file with them, which means that we can disclose important
information to you by referring you to those documents. The information
incorporated by reference is part of this prospectus, and the information that
we file later with the Securities Exchange Commission will automatically update
and supercede this information. We incorporate by reference the documents
listed below:
</FONT>

<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">Our Annual Report on Form 10-K for the fiscal year
ended December&nbsp;31, 2002.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">Our Quarterly Report on Form 10-Q/A for the fiscal
quarter ended March&nbsp;31, 2003 and on Form 10-Q for the fiscal
quarters ended June&nbsp;30, 2003 and September&nbsp;30, 2003.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">Our current reports on Form 8-K dated March&nbsp;7, 2003,
July&nbsp;22, 2003, July&nbsp;29, 2003 (to the extent filed rather than
furnished), and October&nbsp;29, 2003.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">The Registration Statement of our Class&nbsp;A common stock
on Form 8-A filed on January&nbsp;21, 1999.
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">&#149;
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">The Registration Statement of Rights to Purchase our
Series&nbsp;A and Series&nbsp;B Junior Participating Perferred Stock on
Form 8-A filed on February&nbsp;18, 1999.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">In addition, this prospectus incorporates by reference any future filings we
will make with the Securities Exchange Commission under Sections&nbsp;13(a), 13(c),
14, or 15(d) of the Securities Exchange Act of 1934 from the date of the
initial filing of the registration statement that includes this prospectus
until the termination of the offering. Information in this prospectus
supercedes related information in the documents listed above and information in
subsequently filed documents supercedes related information in both this
prospectus and the incorporated documents.
</FONT>

<P align="left"><FONT size="2">You may request a copy of these filings, at no cost, by writing us at the
following address or calling us at the following telephone number:
</FONT>

<P align="center"><FONT size="2">2300 West Plano Parkway<BR>
Plano, Texas 75075<BR>
Attention: Investor Relations<BR>
(877)&nbsp;737-6973
</FONT>
<P align="center"><FONT size="2">11
</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>PART II</B>
</FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</FONT>

<P align="left"><FONT size="2"><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents heretofore filed with the Securities and Exchange
Commission (the &#147;Commission&#148;) by Perot Systems Corporation (the &#147;Company&#148;) are
incorporated herein by reference:
</FONT>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">(1)
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">The Annual Report of the Company on Form 10-K for the year
ended December&nbsp;31, 2002 (the &#147;Annual Report&#148;);
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">(2)
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">All reports filed by the Company pursuant to Sections 13(a)
or 15(d) of the Exchange Act, since the end of the fiscal year
covered by the Annual Report;
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">(3)
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">The description of the Class&nbsp;A common stock set forth in the
Company&#146;s Registration Statement on Form 8-A (File No.&nbsp;001-14773)
filed with the Commission on January&nbsp;21, 1999 pursuant to Section&nbsp;12
of the Securities Exchange Act of 1934, as amended, including any
amendment or report filed for the purpose of updating such
description; and
</FONT></TD>
</TR>
</TABLE>
<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
       <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
       <TD width="3%" nowrap align="left"><FONT size="2">(4)
</FONT></TD>
       <TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
       <TD><FONT size="2">The description of Rights to Purchase Series&nbsp;A and Series&nbsp;B
Junior Participating Preferred Stock associated with the Class&nbsp;A
common stock set forth in the Company&#146;s Registration Statement on
Form 8-A (File No.&nbsp;000-22495) filed with the Commission on February
18, 1999 pursuant to Section&nbsp;12 of the Exchange Act, including any
amendment or report filed for the purpose of updating such
description.
</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2">All documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Exchange Act after the date of this Registration Statement and
prior to the filing of a post-effective amendment to this Registration
Statement which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold shall be deemed to be
incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing such documents.
</FONT>

<P align="left"><FONT size="2">Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes
of this Registration Statement to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
</FONT>

<P align="left"><FONT size="2"><B>ITEM 4. DESCRIPTION OF SECURITIES.</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<P align="left"><FONT size="2"><B>ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the Class&nbsp;A common stock will be passed upon for us by
Hughes &#038; Luce, LLP, Dallas, Texas.
</FONT>
<P align="left"><FONT size="2"><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B>.
</FONT>
<P align="left"><FONT size="2">The Company&#146;s Third Amended and Restated Certificate of Incorporation and Third
Amended and Restated Bylaws provide that officers and directors who are made a
party to or are threatened to be made a party to or are otherwise involved in
any action, suit, or proceeding, whether civil, criminal, administrative, or
investigative (hereinafter a &#147;proceeding&#148;), by reason of the fact that he or
she, or a person of whom he or she is the legal representative, is or was an
officer or a director of the Company or is or was serving at the request of the
Company as a director or an officer of another corporation or of a partnership,
joint venture, trust, or other enterprise, including service with respect to an
employee benefit plan (an &#147;indemnitee&#148;), whether the basis of such proceeding
is alleged action in an official capacity as a director or officer or in any
other capacity while serving as a director or officer, shall be indemnified and
held harmless by the Company to the fullest extent authorized by the Delaware
General
</FONT>

<P align="center"><FONT size="2">12
</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="left"><FONT size="2">Corporation Law (the &#147;DGCL&#148;), as the same exists or may hereafter be amended
(but, in the case of any such amendment, only to the extent that such amendment
permits the Company to provide broader indemnification rights than permitted
prior thereto), against all expense, liability, and loss (including, without
limitation, attorneys&#146; fees, judgments, fines, excise taxes or penalties, and
amounts paid or to be paid in settlement) incurred or suffered by such
indemnitee in connection therewith and such indemnification shall continue with
respect to an indemnitee who has ceased to be a director or officer and shall
inure to the benefit of the indemnitee&#146;s heirs, executors, and administrators;
provided, however, that the Company shall generally indemnify any such
indemnitee in connection with a proceeding initiated by such indemnitee only if
such proceeding was authorized by the Board of Directors. The right to
indemnification includes the right to be paid by the Company for expenses
incurred in defending any such proceeding in advance of its final disposition.
The DGCL requires certain undertakings by an indemnitee in connection with an
advancement of expenses. Officers and directors are not entitled to
indemnification if such persons did not meet the applicable standard of conduct
set forth in the DGCL for officers and directors.
</FONT>

<P align="left"><FONT size="2">DGCL Section&nbsp;145 provides, among other things, that the Company may indemnify
any person who was or is a party or who is threatened to be made a party to any
threatened, pending, or completed action, suit, or proceeding (other than an
action by or in the right of the Company) by reason of the fact that the person
is or was a director, officer, agent, or employee of the Company or is or was
serving at the Company&#146;s request as a director, officer, agent, or employee of
another corporation, partnership, joint venture, trust, or other enterprise,
against expenses including attorneys&#146; fees, judgments, fines, and amounts paid
in settlement actually and reasonably incurred by the person in connection with
such action, suit, or proceeding. The power to indemnify applies (a)&nbsp;if such
person is successful on the merits or otherwise in defense of any action, suit,
or proceeding, or (b)&nbsp;if such person acted in good faith and in a manner he or
she reasonably believed to be in the best interest, or not opposed to the best
interest, of the Company, and with respect to any criminal action or
proceeding, had no reasonable cause to believe his or her conduct was unlawful.
The power to indemnify applies to actions brought by or in the right of the
Company as well, but only to the extent of defense expenses (including
attorneys&#146; fees but excluding amounts paid in settlement) actually and
reasonably incurred and not to any satisfaction of a judgment or settlement of
the claim itself, and with the further limitation that in such actions no
indemnification shall be made in the event of any adjudication of liability to
the Company, unless the court believes that in light of all the circumstances
indemnification should apply.
</FONT>

<P align="left"><FONT size="2">The indemnification provisions contained in the Company&#146;s Amended and Restated
Certificate of Incorporation and Amended and Restated Bylaws are not exclusive
of any other rights to which a person may be entitled by law, agreement, vote
of stockholders or disinterested directors, or otherwise. In addition, the
Company maintains insurance on behalf of its directors and executive officers
insuring them against any liability asserted against them in their capacities
as directors or officers or arising out of such status.
</FONT>

<P align="left"><FONT size="2"><B>ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.</B>
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,375 shares of the Company&#146;s Class&nbsp;A common stock registered for resale
hereby are restricted because they were issued by the Company to certain
Selling Stockholders prior to the effectiveness of this Registration Statement.
Exemption from the registration requirements of the Securities Act of 1933, as
amended (the &#147;Securities Act&#148;), for the issuance of such shares is claimed
under Section&nbsp;4(2) of the Securities Act on the basis that such transactions
did not involve any public offering because, among other things, it involved an
issuance to three persons who, as directors of the Company, had access to all
relevant material information regarding the Company.
</FONT>
<P align="left"><FONT size="2"><B>ITEM 8. EXHIBITS.</B>
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">

<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">5.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Opinion of Hughes &#038; Luce, L.L.P., regarding the legality of the securities being registered</FONT></TD>
</TR>


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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of PricewaterhouseCoopers LLP</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.2*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Hughes &#038; Luce, L.L.P. (included in the opinion filed as Exhibit&nbsp;5.1 hereto)</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">24*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Power of Attorney (included on the signature page to this Registration Statement)</FONT></TD>
</TR>
</TABLE>
</DIV>

<P>
<HR size="1" noshade width="18%" align="left">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" nowrap align="left"><FONT size="2">*
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Filed herewith
</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">13
</FONT>
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<P align="left"><FONT size="2"><B>ITEM 9. UNDERTAKINGS.</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned Registrant hereby undertakes:
</FONT>
<P align="left" style="margin-left: 5%; text-indent: 5%; margin-right: 0%"><FONT size="2">(1)&nbsp;To file, during any period in which offers or sales are
being made, a post-effective amendment to this Registration
Statement:
</FONT>

<P align="left" style="margin-left: 10%; text-indent: 5%; margin-right: 0%"><FONT size="2">(i)&nbsp;To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
</FONT>

<P align="left" style="margin-left: 10%; text-indent: 5%; margin-right: 0%"><FONT size="2">(ii)&nbsp;To reflect in the prospectus any facts or events
arising after the effective date of this Registration
Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in this
Registration Statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or
high and of the estimated maximum offering range may be
reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20&nbsp;percent change
in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective
registration statement;
</FONT>

<P align="left" style="margin-left: 10%; text-indent: 5%; margin-right: 0%"><FONT size="2">(iii)&nbsp;To include any material information with respect
to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such
information set forth in this Registration Statement.
</FONT>

<P align="left" style="margin-left: 5%; text-indent: 5%; margin-right: 0%"><FONT size="2">(2)&nbsp;That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment
shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof.
</FONT>

<P align="left" style="margin-left: 5%; text-indent: 5%; margin-right: 0%"><FONT size="2">(3)&nbsp;To remove from registration by means of a post-effective
amendment any of the securities being registered which remain
unsold at the termination of the offering.
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant&#146;s annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act
of 1934) that is incorporated by reference in this Registration Statement shall
be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against policy as expressed in the Act and will
be governed by the final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">14
</FONT>
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<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>
<DIV align="left"><A name="a008"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Plano, State of Texas on this 2nd day of December,
2003.
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" valign="top" align="left"><FONT size="2">PEROT SYSTEMS CORPORATION</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ Ross Perot, Jr.</FONT></TD>
</TR>
<TR>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Name:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"> Ross Perot, Jr.</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Title:
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated on this 2nd day of December, 2003.
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Signature</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Date</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Ross Perot, Jr.
<HR size="1" noshade>
Ross Perot, Jr.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
President, Director, and Chief Executive<BR>
Officer (Principal Executive Officer)
</FONT></div></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ James Champy
<HR size="1" noshade>
James Champy</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Vice President and Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Russell Freeman
<HR size="1" noshade>
Russell Freeman</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Vice President and Chief Financial<BR>
Officer (Principal Financial Officer)
</FONT></div></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Robert J. Kelly
<HR size="1" noshade>
Robert J. Kelly</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Corporate Controller (Principal<BR>
Accounting Officer)
</FONT></div></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ William K. Gayden
<HR size="1" noshade>
William K. Gayden</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Carl Hahn
<HR size="1" noshade>
Carl Hahn</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Ross Perot
<HR size="1" noshade>
Ross Perot</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Chairman
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Steve Blasnik
<HR size="1" noshade>
Steve Blasnik</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Cecil H. Moore
<HR size="1" noshade>
Cecil H. Moore</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Thomas Meurer
<HR size="1" noshade>
Thomas Meurer</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ John S. T. Gallagher
<HR size="1" noshade>
John S. T. Gallagher</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">&nbsp;
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby constitutes and appoints
Peter A. Altabef and Russell Freeman his true and lawful attorney-in-fact and
agent with full power of substitution and resubstitution, for him and in his
name, place, and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration
statement, any and all supplemental registration statements (including
post-effective amendments), and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange
Commission, and hereby grants to such attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he or she might
or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent or his substitute or substitutes may lawfully do or
cause to be done by virtue hereof.
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this registration
statement or amendment thereto has been signed by the following persons in the
capacities and on the dates indicated:
</FONT>
<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">

<TR valign="bottom">
    <TD width="22%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Signature</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Date</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Ross Perot, Jr.
<HR size="1" noshade>
Ross Perot, Jr.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
President, Director, and Chief Executive<BR>
Officer (Principal Executive Officer)
</FONT></div></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ James Champy
<HR size="1" noshade>
James Champy</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Vice President and Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Russell Freeman
<HR size="1" noshade>
Russell Freeman</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Vice President and Chief Financial<BR>
Officer (Principal Financial Officer)
</FONT></div></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Robert J. Kelly
<HR size="1" noshade>
Robert J. Kelly</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
Corporate Controller (Principal<BR>
Accounting Officer)
</FONT></div></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ William K. Gayden
<HR size="1" noshade>
William K. Gayden</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Carl Hahn
<HR size="1" noshade>
Carl Hahn</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Ross Perot
<HR size="1" noshade>
Ross Perot</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Chairman
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Steve Blasnik
<HR size="1" noshade>
Steve Blasnik</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Cecil H. Moore
<HR size="1" noshade>
Cecil H. Moore</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Thomas Meurer
<HR size="1" noshade>
Thomas Meurer</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ John S. T. Gallagher
<HR size="1" noshade>
John S. T. Gallagher</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">December&nbsp;2, 2003</FONT></TD>
</TR>
</TABLE>
</DIV>

<P align="center"><FONT size="2">&nbsp;
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="009"></A></DIV>
<DIV align="left"><A name="a009"></A></DIV>
<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B>
</FONT>

<DIV align="center">
<TABLE cellspacing="0" border="0" cellpadding="0" width="85%">

<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Exhibit</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>&nbsp;</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><FONT size="1"><B>Number</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Description of Exhibits</B></FONT></TD>
</TR>
<TR  valign="bottom">
    <TD nowrap align="left"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">5.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Opinion of Hughes &#038; Luce, L.L.P., regarding the legality of the securities being registered</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.1*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of PricewaterhouseCoopers LLP</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">23.2*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Consent of Hughes &#038; Luce, L.L.P. (included in his opinion filed as Exhibit&nbsp;5.1 hereto)</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD valign="top"><FONT size="2">24*</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
Power of Attorney (included on the signature page to this Registration Statement)</FONT></TD>
</TR>
</TABLE>
</DIV>

<P>
<HR size="1" noshade width="18%" align="left">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" nowrap align="left"><FONT size="2">*
</FONT></TD>
    <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
    <TD width="96%"><FONT size="2">Filed herewith
</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">&nbsp;
</FONT>
</BODY>
</HTML>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on December 2, 2003
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
PEROT SYSTEMS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware
75-2230700
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification Number)
2300 West Plano Parkway
Plano, Texas 75075
(Address, Including Zip Code, of Registrant's Principal Executive Office)
NON-EMPLOYEE DIRECTOR STOCK IN LIEU OF RETAINER
(Full Title of the Plans)
Peter A. Altabef
Vice President, General Counsel, and Secretary
Perot Systems Corporation
2300 West Plano Parkway
Plano, Texas 75075
(972) 577-0000
(Name, Address and Telephone Number, Including Area Code, of Agent For Service)
Copy to:
Glen J. Hettinger
Hughes & Luce, LLP
1717 Main Street, Suite 2800
Dallas, Texas 75201
214 939-5500
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
Maximum
Maximum
Title of Securities
Amount to be
Offering Price
Aggregate
Amount of
to be Registered
Registered(1)
per Share(2)
Offering Price(2)
Registration Fee
Class
A Common Stock, par
value $.01 per
share
83,375
$
12.24
$
1,020,510
$
82.56
(1)
Pursuant to Rule 416(c) under the Securities Act of 1933, as amended,
this Registration Statement also covers such indeterminable number of
additional shares of common stock as may become issuable pursuant to terms
designed to prevent dilution resulting from stock and splits, stock
dividends, merger or combination or similar events.
(2)
Estimated solely for the purpose of calculating the registration fee on
the basis of the average of the high and low price paid per share of Class
A common stock, $.01 par value per share, as reported on the New York
Stock Exchange on November 28, 2003, in accordance with Rule 457(h)
promulgated under the Securities Act of 1933, as amended.
TABLE OF CONTENTS
RISK FACTORS
THE COMPANY
USE OF PROCEEDS
SELLING STOCKHOLDERS
PLAN OF DISTRIBUTION
LEGAL MATTERS
AVAILABLE INFORMATION
WHERE YOU CAN FIND MORE INFORMATION
SIGNATURES
EXHIBIT INDEX
EX-5.1 Opinion/Consent of Hughes & Luce, L.L.P.
EX-23.1 Consent of PricewaterhouseCoopers LLP
Table of Contents
EXPLANATORY NOTE
Perot Systems Corporation (the "Company") prepared this Registration
Statement in accordance with the requirements of Form S-8 under the Securities
Act of 1933, as amended, to register 83,375 shares of the Company's Class A
common stock, par value $.01 per share ("Common Stock"). Such shares of Common
Stock were issued or are issuable by the Company from time to time to
non-employee directors of the Company as full or partial payment of the $45,000
annual director fee payable by the Company in accordance with the resolutions
and related attachment of the Company's Board of Directors dated June 3, 2003
(the "Resolutions"). This Registration Statement contains two parts. The
first part contains a prospectus prepared in accordance with Part I of Form S-8
(in accordance with Instruction C of the General Instructions to Form S-8)
which covers reoffers and resales of shares of the Common Stock issued pursuant
to the Resolutions. The second part contains information required in the
Registration Statement pursuant to Part II of Form S-8. Information required
by Part I of Form S-8 is omitted from this Registration Statement in accordance
with Rule 428 under the Securities Act of 1933, as amended, and the "Note" to
Part I of Form S-8.
PROSPECTUS
December 2, 2003
83,375 Shares
PEROT SYSTEMS CORPORATION
CLASS A COMMON STOCK
This prospectus relates to the resale by the selling stockholders identified in
this prospectus and our former, current and future non-employee directors
(together, we refer to them as the "Selling Stockholders") of 83,375 shares of
our Class A common stock, par value $.01 per share. Such shares of Class A
Common Stock consist of (1) 3,375 shares of restricted stock previously issued
to certain Selling Stockholders as full or partial payment of the $45,000
annual director fee payable by the Company (the "Director Fee") (such fee to be
payable in quarterly installments and in arrears) in accordance with the
resolutions and related attachment of the Company's Board of Directors dated
June 3, 2003 (the "Resolutions"), and (2) 80,000 shares reserved for issuance
by the Company from time to time to the Selling Stockholders as full or partial
payment for the Director Fee payable by the Company in accordance with the
Resolutions. Pursuant to the Resolutions, each non-employee director may elect
to receive all or part of his or her Director Fee in the form of Company Class
A common stock versus payment in cash. The Class A common stock will be valued
at the closing price listed on the New York Stock Exchange on the last trading
day of the quarter for which payment of the Director Fee is due.
We will pay all expenses of the offering. We will not pay any underwriting
discounts or commissions in connection with the issuance or sale of any shares.
Our Class A common stock is listed on the New York Stock Exchange under the
symbol PER. On November 28, 2003, the closing price of one share of our Class
A common stock on the New York Stock Exchange was $12.40.
BEFORE PURCHASING SHARES OF OUR COMMON STOCK YOU SHOULD CAREFULLY REVIEW THE
RISK FACTORS SECTION OF THIS PROSPECTUS, WHICH BEGINS ON PAGE 3.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS
A CRIMINAL OFFENSE.
The date of this prospectus is December 2, 2003
Table of Contents
THIS PROSPECTUS INCORPORATES IMPORTANT BUSINESS AND FINANCIAL INFORMATION THAT
IS NOT INCLUDED IN OR DELIVERED WITH THIS PROSPECTUS. THIS INFORMATION IS
AVAILABLE WITHOUT CHARGE TO SECURITY HOLDERS UPON ORAL OR WRITTEN REQUEST TO
PEROT SYSTEMS CORPORATION, 2300 WEST PLANO PARKWAY, PLANO, TEXAS 75075,
ATTENTION: INVESTOR RELATIONS (TEL. (877) 737-6973). TO ENSURE TIMELY
DELIVERY OF THE INFORMATION, PLEASE MAKE ANY REQUEST AT LEAST FIVE DAYS BEFORE
THE DAY YOU MUST MAKE YOUR INVESTMENT DECISION. SEE "WHERE YOU CAN FIND MORE
INFORMATION."
WE HAVE NOT AUTHORIZED ANY PERSON TO PROVIDE INFORMATION OR MAKE ANY
REPRESENTATION ABOUT THIS OFFERING THAT IS NOT IN THIS PROSPECTUS. PROSPECTIVE
INVESTORS SHOULD RELY ONLY ON THE INFORMATION CONTAINED IN THIS PROSPECTUS.
THIS PROSPECTUS IS NOT AN OFFER TO SELL NOR IS IT SEEKING AN OFFER TO BUY THESE
SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS PROHIBITED.
INFORMATION IN THIS PROSPECTUS IS CORRECT ONLY AS OF ITS DATE, REGARDLESS OF
WHEN ANY LATER OFFER OR SALE OCCURS.
TABLE OF CONTENTS
RISK FACTORS
3
THE COMPANY
9
USE OF PROCEEDS
10
SELLING STOCKHOLDERS
10
PLAN OF DISTRIBUTION
10
LEGAL MATTERS
10
AVAILABLE INFORMATION
11
WHERE YOU CAN FIND MORE INFORMATION
11
Our principal executive offices are located at 2300 West Plano Parkway, Plano
Texas 75075. Our telephone number is (972) 577-0000 and our website is
www.perotsystems.com.
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RISK FACTORS
An investment in our Class A common stock involves a high degree of risk. In
addition to the other information in this prospectus, you should carefully
consider the following risk factors in evaluating an investment in our Class A
common stock. This prospectus contains "forward-looking statements" about our
operations, economic performance and financial condition, including, in
particular, the likelihood of our success in developing and expanding our
business. These statements are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties and
contingencies, many of which are beyond our control, and reflect future
business decisions that are subject to change. The risks described below are
not the only ones facing our Company. Additional risks that we do not yet know
of or that we currently think are immaterial may also impair our business
operations. If any of the following risks actually occurs, our business,
financial condition, or results of operations could be materially and adversely
affected. In such case, the trading price of our Class A common stock could
decline, and you may lose all or part of your investment.
In addition, we specifically direct you to our public filings, which are
available from the Securities and Exchange Commission as described under the
captions "Available Information" and "Where You Can Find More Information."
These public filings will discuss other potential risk factors that may arise
in the future.
THE TERM OF AND POSSIBLE CHANGES IN OUR UBS RELATIONSHIP AND VARIABILITY OF
PROFITS FROM UBS COULD ADVERSELY AFFECT OUR BUSINESS
Our largest customer is UBS. During 2002, our UBS relationship generated
$249.8 million or 18.7% of our revenue. The contract that covers most of our
business with UBS is scheduled to end in January 2007. We have amended this
contract from time to time during its term and we may consider additional
changes to this contract, which may affect future revenue and profits from UBS.
We cannot provide any assurance that our UBS relationship will extend beyond
January 2007 or that our current relationship with UBS will continue on the
current terms in the future.
Revenue that we derive from our UBS relationship depends upon the level of
services we perform, which may vary from period to period depending on UBS's
requirements. In addition, the agreement with UBS that covers most of our
business with UBS entitles us to recover our costs plus an annual fixed fee,
with a bonus or penalty that can cause this annual fee to vary up or down by as
much as 13%, depending on our level of performance as determined by UBS.
Determination of whether our performance merits a bonus or a penalty depends on
many objective and subjective factors, including service quality, product
delivery, customer satisfaction, cost effectiveness, and corporate level
support.
RISKS ASSOCIATED WITH NON-RECOVERABLE COST OVERRUNS ON SOFTWARE DEVELOPMENT
CONTRACTS COULD ADVERSELY AFFECT OUR PROFITS
We develop custom software applications for some of our customers. The effort
and cost associated with the completion of a software development project is
difficult to estimate and, in some cases, may significantly exceed the estimate
made at the time we begin the project. We provide most of our software
development projects under level-of-effort contracts, usually based on time and
materials or direct costs plus a fee. Under those arrangements, we are able to
bill our customer based on the actual cost of completing the software
development project, even if the ultimate cost of the project exceeds our
initial estimates. However, if the ultimate cost exceeds our initial estimate
by a significant amount, we may have difficulty collecting the full amount that
we are due under the contract, depending upon many factors, including the
reasons for the increase in cost, our communication with the customer
throughout the project and the customer's satisfaction with the developed
software. As a result, we could incur losses with respect to software
development projects even when they are priced on a level-of-effort basis. If
we provide a software development project under a fixed-price contract, we bear
all the risk that the ultimate cost of the project will exceed the price to be
charged to the customer.
LOSS OF MAJOR CUSTOMERS COULD ADVERSELY AFFECT OUR BUSINESS
Our five largest customers accounted for approximately 46.4% of our revenue for
2002 and approximately 46.5% of our revenue in 2001. UBS was the only customer
that accounted for more than 10% of our revenue for 2002 and 2001.
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After UBS our next four largest customers accounted for approximately 27.7% of
our revenue in 2002 and 22.4% of our revenue in 2001. Our success depends
substantially upon the retention of UBS and a majority of our other major
customers as ongoing customers. Generally, we may lose a customer as a result
of a merger or acquisition, contract expiration, the selection of another
provider of information technology services, business failure or bankruptcy, or
our performance. We may not retain long-term relationships or secure renewals
of short-term relationships with our major customers in the future.
OUR FINANCIAL RESULTS COULD BE ADVERSELY AFFECTED BY THE PERFORMANCE OR
LIABILITIES OF ACQUIRED ENTITIES
In connection with any acquisition made by us, there may be liabilities that we
fail to discover or that we inadequately assess. To the extent that the
acquired entity failed to fulfill any of its contractual obligations, we may be
financially responsible for these failures or otherwise be adversely affected.
In addition, acquired entities may not perform according to the forecasts that
we used to determine the price paid for the acquisition. If the acquired
entity fails to achieve these forecasts, our financial condition and operating
results may be adversely affected.
RISKS ASSOCIATED WITH SOFTWARE PRODUCTS COULD ADVERSELY AFFECT OUR FINANCIAL
CONDITION
Our business has risks associated with the development of software products.
There is the risk that capitalized costs of development may not be fully
recovered if the market for our products or the ability of our products to
capture a portion of the market differs materially from our estimates. In
addition, there is the risk that the cost of product development differs
materially from our estimates or a delay in product introduction may reduce the
portion of the market captured by our product.
ACQUISITIONS MAY DISRUPT OR HAVE A NEGATIVE IMPACT ON OUR BUSINESS
We have completed several acquisitions in recent years and we will continue to
analyze and consider potential acquisition candidates. Acquisitions involve
numerous risks, including the following:
•
companies we acquire may have a lower quality of internal controls and reporting standards;
•
we may have difficulty integrating the systems and operations of acquired businesses;
•
integration of an acquired business may divert our attention from
normal daily operations of the business; and
•
we may not be able to retain key employees of the acquired
business.
Mergers and acquisitions of companies are inherently risky, and we can give no
assurance that our acquisitions will be successful and will not materially
adversely affect our business, operating results or financial condition.
OUR CONTRACTS CONTAIN TERMINATION PROVISIONS AND PRICING RISKS WHICH AFFECT OUR
REVENUE AND PROFIT
Some of our contracts with customers permit termination in the event our
performance is not consistent with service levels specified in those contracts.
The ability of our customers to terminate contracts creates an uncertain
revenue stream. If customers are not satisfied with our level of performance,
our reputation in the industry may suffer, which may also materially and
adversely affect our business, financial condition, and results of operations.
Some of our contracts contain pricing provisions that require the payment of a
set fee by the customer for our services regardless of the costs we incur in
performing these services, or provide for penalties in the event we fail to
achieve certain contract standards. In such situations, we are exposed to the
risk that we will incur significant unforeseen costs or such penalties in
performing the contract.
WE HAVE NUMEROUS RISKS RELATED TO INTERNATIONAL OPERATIONS
We have operations in many countries around the world. Risks that affect these international operations include:
•
fluctuations in currency exchange rates may adversely affect the results of foreign operations;
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•
complicated licensing and work permit requirements may hinder our
ability to operate in some jurisdictions;
•
our intellectual property rights may not be well protected in some jurisdictions;
•
our operations may be vulnerable to terrorist actions or harmed by government responses;
•
governments may restrict our ability to convert currencies; and
•
additional expenses and risks inherent in conducting operations in
geographically distant locations, with customers speaking different
languages and having different cultural approaches to the conduct of
business.
To attempt to mitigate the effects of foreign currency fluctuations, we
sometimes use forward exchange contracts and other hedging techniques.
However, generally we do not hedge foreign exchange exposures that are not
likely to impact net income or working capital.
WE FACE RISKS RELATING TO GOVERNMENT CONTRACTS
Perot Systems Government Services provides services as a contractor and
subcontractor on various projects with U.S. government entities. Despite the
fact that a number of government projects for which we serve as a contractor or
subcontractor are planned as multi-year projects, the U.S. government normally
funds these projects on an annual or more frequent basis. Generally, the
government has the right to change the scope of, or terminate, these projects
at its convenience. The termination or a major reduction in the scope of a
major government project could have a material adverse effect on our results of
operations and financial condition.
U.S. government entities audit our contract costs, including allocated indirect
costs, or conduct inquiries and investigations of our business practices with
respect to our government contracts. If the government finds that we
improperly charged any costs to a contract, the costs are not reimbursable or,
if already reimbursed, the cost must be refunded to the government. If the
government discovers improper or illegal activities in the course of audits or
investigations, the contractor may be subject to various civil and criminal
penalties and administrative sanctions, which may include termination of
contracts, forfeiture of profits, suspension of payments, fines and suspensions
or debarment from doing business with the U.S. government. These government
remedies could have a material adverse effect on our results of operations and
financial condition.
CUSTOMERS MAY REDUCE SPENDING THAT IS CURRENTLY ABOVE CONTRACTUAL MINIMUMS
Some of our outsourcing customers request services in excess of the minimum
level of services required by the contract. These services are often in the
form of project work and are discretionary to our customers. Our customers'
ability to continue discretionary project spending may depend on a number of
factors including, but not limited to, their financial condition, and industry
and strategic direction. Spending above contractual minimums by customers
could end with limited notice and result in lower revenue and earnings.
WE OPERATE IN HIGHLY COMPETITIVE MARKETS
Our markets are intensely competitive. Customer requirements and the
technology available to satisfy those requirements continually change.
We compete with a number of different information technology service providers
depending upon the region, country, and/or market we are addressing. Some of
our more frequent competitors include: Accenture, Affiliated Computer
Services, Inc., Anteon International Corporation, Bearingpoint, Inc., Cap
Gemini Ernst & Young, CACI International, Inc., CGI Group, Inc., Computer
Sciences Corporation, Electronic Data Systems Corporation, Hewlett Packard
Company, IBM Global Services (a division of International Business Machines
Corporation), McKesson Corporation, Science Applications International
Corporation, and Seimens Business Services, Inc. As we enter new markets, we
expect to encounter additional competitors.
We compete on the basis of a number of factors, including the attractiveness
and breadth of the business strategy and services that we offer, pricing,
technological innovation, quality of service, ability to invest in or acquire
assets of potential customers and our scale in certain industries or
geographies. Because some of these factors are outside of our control and
because many of our competitors may have greater financial resources, larger
customer bases, and larger technical sales and marketing resources, we cannot
be sure that we will compete successfully against them in
the future. If we fail to compete successfully against our competitors with
respect to these or other factors, our business, financial condition, and
results of operations will be materially and adversely affected.
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We must frequently compete with our customer's own internal information
technology capability, which may constitute a fixed cost for the customer.
This may increase pricing pressure on us. If we are forced to lower our
pricing or if demand for our services decreases, our business, financial
condition, and results of operations will be materially and adversely affected.
INCREASINGLY COMPLEX REGULATORY ENVIRONMENTS MAY INCREASE OUR RISK AND OUR
COSTS
Increasingly complex regulatory environments affect a number of our services.
As an example, changes in healthcare information privacy laws and regulations
may increase our risk of liability and increase the cost of some services we
offer in our healthcare industry group.
OUR QUARTERLY OPERATING RESULTS MAY VARY
We expect our revenue and operating results to vary from quarter to quarter.
Such variations are likely to be caused by many factors that are, to some
extent, outside our control, including:
•
mix and timing of customer projects;
•
completing customer projects;
•
hiring, integrating, and utilizing associates;
•
timing of new contracts;
•
issuance of common shares and options to associates; and
•
costs to exit certain activities.
Accordingly, we believe that quarter-to-quarter comparisons of operating
results for preceding quarters are not necessarily meaningful. You should not
rely on the results of one quarter as an indication of our future performance.
LOSS OF KEY PERSONNEL COULD ADVERSELY AFFECT OUR BUSINESS
Our success depends largely on the skills, experience, and performance of some
key members of our management, including our Chairman, Ross Perot, and our
President and Chief Executive Officer, Ross Perot, Jr. The loss of any key
members of our management may materially and adversely affect our business,
financial condition, and results of operations.
CHANGES IN TECHNOLOGY COULD ADVERSELY AFFECT OUR BUSINESS
The markets for our information technology services change rapidly because of
technological innovation, new product introductions, changes in customer
requirements, declining prices, and evolving industry standards, among other
factors. New products and new technology often render existing information
services or technology infrastructure obsolete, excessively costly, or
otherwise unmarketable. As a result, our success depends on our ability to
timely innovate and integrate new technologies into our service offerings. We
cannot guarantee that we will be successful at adopting and integrating new
technologies into our service offerings in a timely manner.
ROSS PEROT HAS SUBSTANTIAL CONTROL OVER OUR COMPANY
Ross Perot, our Chairman, is the managing general partner of HWGA, Ltd., a
partnership that owned 31,705,000 shares of our Class A common stock as of
December 31, 2002. Mr. Perot also beneficially owns 54,100 shares of our Class
A common stock. Accordingly, Mr. Perot, primarily through HWGA, Ltd., controls
approximately 30% of our outstanding voting common stock. As a result, Mr.
Perot, through HWGA, Ltd., effectively has the power to block corporate actions
such as an amendment to our Certificate of Incorporation, a change of control
or the sale of all or substantially all of our assets. In addition, Mr. Perot
may significantly influence the election of directors and any other action
requiring stockholder approval. The other general partner of HWGA, Ltd. is
Ross Perot, Jr., our President and Chief Executive Officer, who has the
authority to manage the partnership and direct the voting or sale
of the shares of our Class A common stock held by HWGA, Ltd. if Mr. Perot is no
longer the managing general partner.
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WE COULD LOSE RIGHTS TO OUR COMPANY NAME
We do not own the right to our company name. In 1988, we entered into a
license agreement with Ross Perot, our Chairman, and the Perot Systems Family
Corporation that allows us to use the name "Perot" and "Perot Systems" in our
business on a royalty-free basis. Mr. Perot and the Perot Systems Family
Corporation may terminate this agreement at any time and for any reason.
Beginning one year following such a termination, we would not be allowed to use
the names "Perot" or "Perot Systems" in our business. Mr. Perot's or the Perot
Systems Family Corporation's termination of our license agreement could
materially and adversely affect our business, financial condition, and results
of operations.
FAILURE TO RECRUIT, TRAIN, AND RETAIN SKILLED PERSONNEL COULD INCREASE COSTS OR
LIMIT GROWTH
We must continue to hire and train technically skilled people in order to
perform services under our existing contracts and new contracts into which we
will enter. The people capable of filling these positions have historically
been in great demand, and recruiting and training such personnel requires
substantial resources. We may be required to pay an increasing amount to hire
and retain a technically skilled workforce. In addition, during periods in
which demand for technically skilled resources is great, our business may
experience significant turnover. These factors could create variations and
uncertainties in our compensation expense and efficiencies that could directly
affect our profits. If we fail to recruit, train, and retain sufficient
numbers of these technically skilled people, our business, financial condition,
and results of operations may be materially and adversely affected.
ALLEGED OR ACTUAL INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS COULD RESULT IN
SUBSTANTIAL ADDITIONAL COSTS
Our suppliers, customers, competitors and others may have or obtain patents and
other proprietary rights that cover technology we employ. We are not, and
cannot be, aware of all patents or other intellectual property rights of which
our services may pose a risk of infringement. Others asserting rights against
us could force us to defend ourselves or our customers against alleged
infringement of intellectual property rights. We could incur substantial costs
to prosecute or defend any intellectual property litigation and we could be
forced to do one or more of the following:
•
cease selling or using products or services that incorporate the
disputed technology;
•
obtain from the holder of the infringed intellectual property right
a license to sell or use the relevant technology; or
•
redesign those services or products that incorporate such
technology.
PROVISIONS OF OUR CERTIFICATE OF INCORPORATION, BYLAWS, STOCKHOLDERS' RIGHTS
PLAN AND DELAWARE LAW COULD DETER TAKEOVER ATTEMPTS
Our Board of Directors may issue up to 5,000,000 shares of preferred stock and
may determine the price, rights, preferences, privileges, and restrictions,
including voting and conversion rights, of these shares of preferred stock
without any further vote or action by our stockholders. The rights of the
holders of common stock will be subject to, and may be adversely affected by,
the rights of the holders of any preferred stock that may be issued in the
future. The issuance of preferred stock may make it more difficult for a third
party to acquire a majority of our outstanding voting stock.
In addition, we have adopted a stockholders' rights plan. Under this plan,
after the occurrence of specified events that may result in a change of
control, our stockholders will be able to buy stock from us or our successor at
half the then current market price. These rights will not extend, however, to
persons participating in takeover attempts without the consent of our Board of
Directors or that our Board of Directors determines to be adverse to the
interests of the stockholders. Accordingly, this plan could deter takeover
attempts.
Some provisions of our Certificate of Incorporation and Bylaws and of Delaware
General Corporation Law could also delay, prevent, or make more difficult a
merger, tender offer, or proxy contest involving our company. Among other
things, these provisions:
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•
require a 66 2/3% vote of the stockholders to amend our Certificate
of Incorporation or approve any merger or sale, lease, or exchange of
all or substantially all of our property and assets;
•
require an 80% vote for stockholders to amend our Bylaws;
•
require advance notice for stockholder proposals and director
nominations to be considered at a vote of a meeting of stockholders;
•
permit only our Chairman, President, or a majority of our Board of
Directors to call stockholder meetings, unless our Board of Directors
otherwise approves;
•
prohibit actions by stockholders without a meeting, unless our
Board of Directors otherwise approves; and
•
limit transactions between our company and persons that acquire
significant amounts of stock without approval of our Board of
Directors.
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THE COMPANY
We are a worldwide provider of information technology (commonly referred to as
IT) services and business solutions to a broad range of customers. We offer
our customers integrated solutions designed around their specific business
objectives, chosen from a breadth of services, including technology
outsourcing, business process outsourcing, development and integration of
systems and applications, and business and technology consulting services.
With this approach, our customers benefit from integrated service offerings
that help synchronize their strategy, systems, and infrastructure. As a
result, we help our customers achieve their business objectives, whether those
objectives are to accelerate growth, streamline operations, or enhance customer
service capabilities.
Our customers may contract with us for any one or more of our services, which
fall into the following categories:
•
IT Outsourcing Services — includes multi-year contracts in which we
assume operational responsibility for various aspects of our customers'
businesses, including application systems, technology infrastructure,
and some back office functions. We typically hire a significant
portion of the customers' staff that has supported these functions. We
then apply our expertise and operating methodologies to increase the
efficiency of the operations, which usually results in increased
operational quality at a lower cost. Our IT outsourcing contracts are
priced using a variety of mechanisms, including level-of-effort, direct
costs plus a fee (which may be either a fixed amount or a percentage of
direct costs incurred), fixed-price, unit price, and risk/reward.
Depending on a customer's business requirements and the pricing
structure of the contract, the cash flows from a contract can vary
significantly during a contract's term. With fixed-price contracts or
when an upfront payment is required to purchase assets, an IT
outsourcing contract will typically produce less cash flow at the
beginning of the contract with significantly more cash flow generated
as efficiencies are realized later in the term. With a cost plus
contract, the cash flows tend to be relatively consistent over the term
of the contract.
•
Business Process Services — includes services such as claims
processing, revenue cycle management, travel agent commission
settlement, and engineering services, which we offer on a stand-alone
basis. We classify our Business Process Services in three categories:
transaction processing services, clerical services, and professional
services related to non-technical functions.
•
Consulting Services — includes services such as management
consulting, IT strategy, business process design, and system
implementation services, which we offer to customers typically on a
short-term basis.
We offer our services under three primary lines of business—IT Solutions,
Government Services and Consulting.
•
IT Solutions, our largest line of business, provides services to
our customers primarily under long-term contracts in strategic
relationships. These services include technology and business process
services, as well as industry domain-based, short-term project and
consulting services. Within IT Solutions, we face the market through
our four vertical industry groups—Healthcare, Financial Services,
Industrial Services and Strategic Markets. Supporting these vertical
industry groups is our Global Infrastructure Services group, the
delivery organization for our technology outsourcing services and our
network and system operations services.
•
Perot Systems Government Services was formed in July of 2002. This
line of business provides consulting and technology-based business
process solutions for the Department of Defense, law enforcement
agencies, and other governmental agencies.
•
Our Consulting line of business includes Solutions Consulting LLC,
a company that we acquired in 2000, and our Global Software Services
group. This line of business provides our customers high-value and
repeatable services related to business and technical expertise and the
design and implementation of business and software solutions, primarily
under short-term contracts related to specific projects.
We consider these three lines of business to be reportable segments and include
financial information and disclosures about these reportable segments in our
consolidated financial statements.
Ross Perot and eight associates founded Perot Systems Corporation in June 1988.
Our principal executive offices are located at 2300 West Plano Parkway, Plano,
Texas 75075. Our telephone number is (972) 577-0000 and our website is
www.perotsystems.com.
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USE OF PROCEEDS
Shares of our Class A common stock which may be sold pursuant to this
prospectus will be sold by the Selling Stockholders for their own accounts and
we will not receive any proceeds from any such sales.
SELLING STOCKHOLDERS
3,375 shares of Class A common stock offered under this prospectus are
being registered for resale by certain Selling Stockholders who have previously
elected to receive shares of the Company's Class A common stock as full or
partial payment of the Director Fee payable by the Company. We have and will
continue to offer our non-employee directors the option to receive all or
partial payment of their Director Fee in Company Class A common stock. The
remaining 80,000 shares of Class A common stock offered by the Selling
Stockholders through this prospectus will be obtained at the election of the
Selling Stockholders in accordance with the Resolutions.
The table below sets forth information with respect to the beneficial
ownership of Class A common stock by certain Selling Stockholders immediately
prior to this offering and as adjusted to reflect the sale of all of the shares
of Class A common stock registered under this Registration Statement pursuant
to the offering. However, the Selling Stockholders named in the following
table may resell all, a portion of, or none of the shares they hold.
Number of Shares
Number of Shares
Beneficially
Shares Being
Beneficially
Name of Beneficial Owner
Owned Prior to Offering
Offered(1)
Owned After Offering(1)
Steve Blasnik
7,125
1,125
6,000
Carl Hahn
86,125
1,125
85,000
Thomas Meurer
5,125
1,125
4,000
Total
98,375
3,375
95,000
(1)
Assumes that the Selling Stockholders set forth above offer for sale all
1,125 shares of Class A common stock currently owned by each of them and
which are registered under this Registration Statement as of the date of
this prospectus.
PLAN OF DISTRIBUTION
The Selling Stockholders have not advised us of any specific plans for the
sale of the shares offered under this prospectus but, if and when such shares
are sold, it is anticipated that the sale of the shares may be effected from
time to time on the New York Stock Exchange at prevailing prices or at
negotiated prices. The Selling Stockholders may also sell shares of our Class
A common stock in private transactions or in the over-the-counter market at
prices related to the prevailing prices of the shares on the New York Stock
Exchange.
If shares are sold through brokers, the Selling Stockholders may pay
customary brokerage commissions and charges. The Selling Stockholders may
effect these transactions by selling shares to or through broker-dealers and
such broker-dealers may receive compensation in the form of discounts,
concessions or commissions from the Selling Stockholder and or the purchaser of
the shares so sold for whom such broker-dealers may act or to whom they may
sell as principal or both (which compensation, as to a particular
broker-dealer, may be in excess of customary commissions).
In connection with the sale of the shares of Class A common stock, the
Selling Stockholders and any participating broker or dealer may be deemed to be
"underwriters" within the meaning of the Securities Act of 1933, as amended
(the "Securities Act"), and any profits on the sale of the shares of Class A
common stock or commissions they receive may be deemed to be underwriting
discounts and commissions under the Securities Act.
LEGAL MATTERS
The validity of the Class A common stock will be passed upon for us by
Hughes & Luce, LLP, Dallas, Texas.
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AVAILABLE INFORMATION
We file annual, quarterly and special reports, proxy statements, and other
information with the Securities and Exchange Commission. You may read and copy
any documents we file with the Securities Exchange Commission at the Securities
Exchange Commission's Public Reference Room at 450 Fifth Street, N.W.,
Washington, D.C. 20549. Please call the Securities Exchange Commission at
1-800-SEC-0330 for further information on the operation of the Public Reference
Room. Our Securities Exchange Commission filings are also available to the
public from the Securities Exchange Commission's website at http://www.sec.gov.
Our common stock is listed on the New York Stock Exchange under the symbol PER
and the periodic reports, proxy statements, and other information we file with
the Securities Exchange Commission may also be inspected at the offices of the
New York Stock Exchange at 20 Broad Street, New York, New York 10005.
WHERE YOU CAN FIND MORE INFORMATION
The Securities Exchange Commission allows us to "incorporate by reference" the
information we file with them, which means that we can disclose important
information to you by referring you to those documents. The information
incorporated by reference is part of this prospectus, and the information that
we file later with the Securities Exchange Commission will automatically update
and supercede this information. We incorporate by reference the documents
listed below:
•
Our Annual Report on Form 10-K for the fiscal year
ended December 31, 2002.
•
Our Quarterly Report on Form 10-Q/A for the fiscal
quarter ended March 31, 2003 and on Form 10-Q for the fiscal
quarters ended June 30, 2003 and September 30, 2003.
•
Our current reports on Form 8-K dated March 7, 2003,
July 22, 2003, July 29, 2003 (to the extent filed rather than
furnished), and October 29, 2003.
•
The Registration Statement of our Class A common stock
on Form 8-A filed on January 21, 1999.
•
The Registration Statement of Rights to Purchase our
Series A and Series B Junior Participating Perferred Stock on
Form 8-A filed on February 18, 1999.
In addition, this prospectus incorporates by reference any future filings we
will make with the Securities Exchange Commission under Sections 13(a), 13(c),
14, or 15(d) of the Securities Exchange Act of 1934 from the date of the
initial filing of the registration statement that includes this prospectus
until the termination of the offering. Information in this prospectus
supercedes related information in the documents listed above and information in
subsequently filed documents supercedes related information in both this
prospectus and the incorporated documents.
You may request a copy of these filings, at no cost, by writing us at the
following address or calling us at the following telephone number:
2300 West Plano Parkway
Plano, Texas 75075
Attention: Investor Relations
(877) 737-6973
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PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents heretofore filed with the Securities and Exchange
Commission (the "Commission") by Perot Systems Corporation (the "Company") are
incorporated herein by reference:
(1)
The Annual Report of the Company on Form 10-K for the year
ended December 31, 2002 (the "Annual Report");
(2)
All reports filed by the Company pursuant to Sections 13(a)
or 15(d) of the Exchange Act, since the end of the fiscal year
covered by the Annual Report;
(3)
The description of the Class A common stock set forth in the
Company's Registration Statement on Form 8-A (File No. 001-14773)
filed with the Commission on January 21, 1999 pursuant to Section 12
of the Securities Exchange Act of 1934, as amended, including any
amendment or report filed for the purpose of updating such
description; and
(4)
The description of Rights to Purchase Series A and Series B
Junior Participating Preferred Stock associated with the Class A
common stock set forth in the Company's Registration Statement on
Form 8-A (File No. 000-22495) filed with the Commission on February
18, 1999 pursuant to Section 12 of the Exchange Act, including any
amendment or report filed for the purpose of updating such
description.
All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act after the date of this Registration Statement and
prior to the filing of a post-effective amendment to this Registration
Statement which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold shall be deemed to be
incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing such documents.
Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes
of this Registration Statement to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
The validity of the Class A common stock will be passed upon for us by
Hughes & Luce, LLP, Dallas, Texas.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
.
The Company's Third Amended and Restated Certificate of Incorporation and Third
Amended and Restated Bylaws provide that officers and directors who are made a
party to or are threatened to be made a party to or are otherwise involved in
any action, suit, or proceeding, whether civil, criminal, administrative, or
investigative (hereinafter a "proceeding"), by reason of the fact that he or
she, or a person of whom he or she is the legal representative, is or was an
officer or a director of the Company or is or was serving at the request of the
Company as a director or an officer of another corporation or of a partnership,
joint venture, trust, or other enterprise, including service with respect to an
employee benefit plan (an "indemnitee"), whether the basis of such proceeding
is alleged action in an official capacity as a director or officer or in any
other capacity while serving as a director or officer, shall be indemnified and
held harmless by the Company to the fullest extent authorized by the Delaware
General
12
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Corporation Law (the "DGCL"), as the same exists or may hereafter be amended
(but, in the case of any such amendment, only to the extent that such amendment
permits the Company to provide broader indemnification rights than permitted
prior thereto), against all expense, liability, and loss (including, without
limitation, attorneys' fees, judgments, fines, excise taxes or penalties, and
amounts paid or to be paid in settlement) incurred or suffered by such
indemnitee in connection therewith and such indemnification shall continue with
respect to an indemnitee who has ceased to be a director or officer and shall
inure to the benefit of the indemnitee's heirs, executors, and administrators;
provided, however, that the Company shall generally indemnify any such
indemnitee in connection with a proceeding initiated by such indemnitee only if
such proceeding was authorized by the Board of Directors. The right to
indemnification includes the right to be paid by the Company for expenses
incurred in defending any such proceeding in advance of its final disposition.
The DGCL requires certain undertakings by an indemnitee in connection with an
advancement of expenses. Officers and directors are not entitled to
indemnification if such persons did not meet the applicable standard of conduct
set forth in the DGCL for officers and directors.
DGCL Section 145 provides, among other things, that the Company may indemnify
any person who was or is a party or who is threatened to be made a party to any
threatened, pending, or completed action, suit, or proceeding (other than an
action by or in the right of the Company) by reason of the fact that the person
is or was a director, officer, agent, or employee of the Company or is or was
serving at the Company's request as a director, officer, agent, or employee of
another corporation, partnership, joint venture, trust, or other enterprise,
against expenses including attorneys' fees, judgments, fines, and amounts paid
in settlement actually and reasonably incurred by the person in connection with
such action, suit, or proceeding. The power to indemnify applies (a) if such
person is successful on the merits or otherwise in defense of any action, suit,
or proceeding, or (b) if such person acted in good faith and in a manner he or
she reasonably believed to be in the best interest, or not opposed to the best
interest, of the Company, and with respect to any criminal action or
proceeding, had no reasonable cause to believe his or her conduct was unlawful.
The power to indemnify applies to actions brought by or in the right of the
Company as well, but only to the extent of defense expenses (including
attorneys' fees but excluding amounts paid in settlement) actually and
reasonably incurred and not to any satisfaction of a judgment or settlement of
the claim itself, and with the further limitation that in such actions no
indemnification shall be made in the event of any adjudication of liability to
the Company, unless the court believes that in light of all the circumstances
indemnification should apply.
The indemnification provisions contained in the Company's Amended and Restated
Certificate of Incorporation and Amended and Restated Bylaws are not exclusive
of any other rights to which a person may be entitled by law, agreement, vote
of stockholders or disinterested directors, or otherwise. In addition, the
Company maintains insurance on behalf of its directors and executive officers
insuring them against any liability asserted against them in their capacities
as directors or officers or arising out of such status.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
3,375 shares of the Company's Class A common stock registered for resale
hereby are restricted because they were issued by the Company to certain
Selling Stockholders prior to the effectiveness of this Registration Statement.
Exemption from the registration requirements of the Securities Act of 1933, as
amended (the "Securities Act"), for the issuance of such shares is claimed
under Section 4(2) of the Securities Act on the basis that such transactions
did not involve any public offering because, among other things, it involved an
issuance to three persons who, as directors of the Company, had access to all
relevant material information regarding the Company.
ITEM 8. EXHIBITS.
5.1*
Opinion of Hughes & Luce, L.L.P., regarding the legality of the securities being registered
23.1*
Consent of PricewaterhouseCoopers LLP
23.2*
Consent of Hughes & Luce, L.L.P. (included in the opinion filed as Exhibit 5.1 hereto)
24*
Power of Attorney (included on the signature page to this Registration Statement)
*
Filed herewith
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ITEM 9. UNDERTAKINGS.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are
being made, a post-effective amendment to this Registration
Statement:
(i) To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events
arising after the effective date of this Registration
Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a
fundamental change in the information set forth in this
Registration Statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed
that which was registered) and any deviation from the low or
high and of the estimated maximum offering range may be
reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20 percent change
in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective
registration statement;
(iii) To include any material information with respect
to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such
information set forth in this Registration Statement.
(2) That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective amendment
shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain
unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange Act
of 1934) that is incorporated by reference in this Registration Statement shall
be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against policy as expressed in the Act and will
be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Plano, State of Texas on this 2nd day of December,
2003.
PEROT SYSTEMS CORPORATION
By:
/s/ Ross Perot, Jr.
Name:
Ross Perot, Jr.
Title:
President and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities indicated on this 2nd day of December, 2003.
Signature
Title
Date
/s/ Ross Perot, Jr.
Ross Perot, Jr.
President, Director, and Chief Executive
Officer (Principal Executive Officer)
December 2, 2003
/s/ James Champy
James Champy
Vice President and Director
December 2, 2003
/s/ Russell Freeman
Russell Freeman
Vice President and Chief Financial
Officer (Principal Financial Officer)
December 2, 2003
/s/ Robert J. Kelly
Robert J. Kelly
Corporate Controller (Principal
Accounting Officer)
December 2, 2003
/s/ William K. Gayden
William K. Gayden
Director
December 2, 2003
/s/ Carl Hahn
Carl Hahn
Director
December 2, 2003
/s/ Ross Perot
Ross Perot
Chairman
December 2, 2003
/s/ Steve Blasnik
Steve Blasnik
Director
December 2, 2003
/s/ Cecil H. Moore
Cecil H. Moore
Director
December 2, 2003
/s/ Thomas Meurer
Thomas Meurer
Director
December 2, 2003
/s/ John S. T. Gallagher
John S. T. Gallagher
Director
December 2, 2003
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POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints
Peter A. Altabef and Russell Freeman his true and lawful attorney-in-fact and
agent with full power of substitution and resubstitution, for him and in his
name, place, and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this registration
statement, any and all supplemental registration statements (including
post-effective amendments), and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange
Commission, and hereby grants to such attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he or she might
or could do in person, hereby ratifying and confirming all that said
attorney-in-fact and agent or his substitute or substitutes may lawfully do or
cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this registration
statement or amendment thereto has been signed by the following persons in the
capacities and on the dates indicated:
Signature
Title
Date
/s/ Ross Perot, Jr.
Ross Perot, Jr.
President, Director, and Chief Executive
Officer (Principal Executive Officer)
December 2, 2003
/s/ James Champy
James Champy
Vice President and Director
December 2, 2003
/s/ Russell Freeman
Russell Freeman
Vice President and Chief Financial
Officer (Principal Financial Officer)
December 2, 2003
/s/ Robert J. Kelly
Robert J. Kelly
Corporate Controller (Principal
Accounting Officer)
December 2, 2003
/s/ William K. Gayden
William K. Gayden
Director
December 2, 2003
/s/ Carl Hahn
Carl Hahn
Director
December 2, 2003
/s/ Ross Perot
Ross Perot
Chairman
December 2, 2003
/s/ Steve Blasnik
Steve Blasnik
Director
December 2, 2003
/s/ Cecil H. Moore
Cecil H. Moore
Director
December 2, 2003
/s/ Thomas Meurer
Thomas Meurer
Director
December 2, 2003
/s/ John S. T. Gallagher
John S. T. Gallagher
Director
December 2, 2003
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EXHIBIT INDEX
Exhibit
Number
Description of Exhibits
5.1*
Opinion of Hughes & Luce, L.L.P., regarding the legality of the securities being registered
23.1*
Consent of PricewaterhouseCoopers LLP
23.2*
Consent of Hughes & Luce, L.L.P. (included in his opinion filed as Exhibit 5.1 hereto)
24*
Power of Attorney (included on the signature page to this Registration Statement)
*
Filed herewith