THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Intuit, Inc. (INTU)

10/22/2004 Proxy Information

In the past, we have approved loans for executive officers, most often for recruiting purposes in connection with their relocation and purchase of a residence near their place of work. These loans have generally been provided when the executive relocated to a higher-cost housing market, such as the San Francisco Bay area. All of the mortgages to the executive officers are secured by the homes they purchase. The Sarbanes-Oxley Act of 2002 prohibits us from making future loans to executive officers and from materially amending outstanding loans to executive officers.

Pursuant to Stephen M. Bennett's January 24, 2000 employment agreement, Intuit provided Mr. Bennett, Intuit's President and Chief Executive Officer, with a $4,375,000 relocation loan on February 17, 2000 to purchase a home close to Intuit's corporate offices. The note is interest free for so long as Mr. Bennett is providing services to Intuit. The entire loan balance becomes due and payable 90 days following Mr. Bennett's resignation or termination for cause, or two years following Mr. Bennett's termination for any other reason, but in no event later than February 17, 2010. As of October 1, 2004, the outstanding principal balance on this loan was $4,375,000, which is the most principal Mr. Bennett owed under the loan since the beginning of fiscal 2004.

Intuit holds a $1,066,400 full recourse promissory note from Mr. Bennett. Intuit lent Mr. Bennett these funds to cover his tax liability due to the vesting of a total of 75,000 shares under the two restricted stock awards made to him in January 2000 of 225,000 shares. The note is full recourse and is secured by the 75,000 shares of Intuit stock worth $2,808,000 on July 31, 2004. Interest accrues at the rate of 2.72% per annum, compounded semiannually and is due each February. The entire loan balance becomes due and payable on the earliest to occur of the sale or other transfer of any of the 75,000 shares, 90 days following Mr. Bennett's resignation or termination for cause, two years following Mr. Bennett's termination for any other reason, or February 19, 2005. As of October 1, 2004, the outstanding principal balance on the loan was $1,066,400, which was the most principal Mr. Bennett owed under the loan since the beginning of fiscal 2004. On February 23, 2004, the date that Mr. Bennett vested in an additional 37,500 shares under his new-hire restricted stock award made to him in January 2000, Intuit repurchased 17,157 of the shares that had vested on that date to enable Mr. Bennett to satisfy his federal and state tax withholding obligations resulting from the vesting of the shares. Intuit repurchased the shares at $44.64 per share, the closing price of Intuit's stock on The NASDAQ Stock Market on February 23, 2004, for an aggregate amount of $765,888, all of which was transmitted to the taxing authorities.

Pursuant to Lorrie Norrington's July 31, 2001 employment agreement, Intuit agreed to provide Ms. Norrington, an Executive Vice President of Intuit, with a $5,000,000 relocation loan to purchase a home close to Intuit's corporate offices. In March 2002, the Compensation and Organizational Development Committee approved a $500,000 increase to the $5,000,000 agreed-upon loan amount for a total approved loan of $5,500,000. We funded the loan in June 2002. Under Ms. Norrington's employment agreement, the original $5,000,000 principal amount of the loan is interest free through the earlier of June 2006, her date of resignation or date of termination for cause. Thereafter, annual interest accrues and is payable at 5.77% per year. Interest accrues on the remaining $500,000 at 5.77% per year, and interest payments are due on each September 30, beginning in 2002. In accordance with Ms. Norrington's employment agreement, the entire loan balance becomes due and payable on the earliest to occur of four years from the date of her involuntary termination, termination without cause or termination for death or disability, six months from the date of her resignation or date of termination for cause or July 31, 2010. As of October 1, 2004, the outstanding principal balance on this loan was $5,500,000, which is the most principal Ms. Norrington owed under the loan since the beginning of fiscal 2004.

In October 2000, the Compensation and Organizational Development Committee approved a loan to Richard W. Ihrie, Intuit's Senior Vice President and Chief Technology Officer, in connection with his purchase of a home close to Intuit's corporate offices. The principal amount of the loan was $1,800,000 and the interest rate is 4.09% per year. Annual interest payments are due on August 1, beginning in 2001. In accordance with Mr. Ihrie's offer letter, Intuit forgave the first interest payment of $78,156 that otherwise would have been due on August 1, 2001. The entire loan balance becomes due and payable 10 days following Mr. Ihrie's termination for any reason other than death or permanent disability (in which event Mr. Ihrie would have 180 days to repay the loan), but in no event later than November 24, 2010. The most principal Mr. Ihrie owed under the loan since the beginning of fiscal 2004 was $1,800,000. As of October 1, 2004, the outstanding principal balance on this loan was $1,630,000, reflecting voluntary principal payments of $100,000 in August 2003 and $70,000 in September 2004.

In July 2004, Dennis Adsit, then a Senior Vice President of Intuit, repaid Intuit $1,048,280, the entire outstanding balance of his $1,030,500 loan from Intuit. Intuit lent Mr. Adsit the $1,030,500 towards the purchase of a house in September 2000. Intuit lent Mr. Adsit these funds in connection with his relocation to California at the time he joined Intuit. The loan required Mr. Adsit to make annual interest payments at 4.09%, subject to the interest rate reduction provisions of his relocation benefits agreement with Intuit. This agreement reduced Mr. Adsit's obligation to pay interest under the note by 5% for the first year, 4% for the second year, 3% for the third year, 2% for the fourth year and 1% for the fifth year. The loan required Mr. Adsit to pay all principal and accrued interest under the loan no later than September 29, 2010 and earlier if Mr. Adsit's employment terminated or if he sold the house that secured the loan. The largest aggregate amount of indebtedness outstanding during fiscal 2004 was $1,048,280. Mr. Adsit left Intuit employment in August 2004.

In December 2004, Thomas Allanson, then a Senior Vice President of Intuit, repaid Intuit $1,058,145.06, the entire outstanding balance of his $1,044,000 loan from Intuit. Intuit originally lent Mr. Allanson $1,305,000 as a bridge loan to purchase a house in October 2000. Intuit lent Mr. Allanson these funds in connection with his relocation to California at the time he joined Intuit. In April 2002, Mr. Allanson made a $261,000 principal payment and the Compensation and Organizational Development Committee approved the amendment and restatement of the loan to a mortgage with a $1,044,000 principal balance at an interest rate of 5.54% per year. Annual interest payments were due beginning in 2002. The loan required Mr. Allanson to pay all principal and accrued interest under the loan no later than April 30, 2012 and earlier if Mr. Allanson's employment terminated or if he sold the house that secured the loan. The largest aggregate amount of indebtedness outstanding during fiscal 2004 was $1,101,837.60. Mr. Allanson left Intuit employment in February 2004.

10/2/2003 Proxy Information

Mr. Campbell has served as Chairman of Intuit Inc. since August 1998 and was acting Chief Executive Officer from September 1999 until January 2000. He also served Intuit as President and Chief Executive Officer from April 1994 through July 1998.

Mr. Cook is the founder of Intuit Inc. From March 1993 to July 1998, he served as Chairman and from March 1984 to April 1994, served as President and Chief Executive Officer.