Summary of Executive Compensation Arrangements for Flex Ltd. Officers (2023)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2023 compensation arrangements for four executive officers of Flex Ltd.: Revathi Advaithi (CEO), Paul R. Lundstrom (CFO), Michael Hartung, and Scott Offer. Each executive receives a specified annual base salary and is eligible for the company's annual incentive bonus plan, long-term cash incentive deferred compensation program, and equity incentive plan awards. The summary does not include all prior compensation or awards, and further details will be provided in the company's 2023 proxy statement.

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EX-10.02 3 flex-exx1002x712022.htm EX-10.02 Document

EXHIBIT 10.02

Summary of Compensation Arrangements of Certain Executive Officers of Flex Ltd.

Note: The following summary of compensation arrangements does not include all previously reported compensation arrangements or awards granted under previously disclosed incentive plans. Disclosures with respect to compensation for Named Executive Officers for the 2023 fiscal year will be included in the Company’s definitive proxy statement for the Company’s 2023 Annual General Meeting of Shareholders.

Compensation for Revathi Advaithi (Chief Executive Officer)

Ms. Advaithi’s current annual base salary is $1,325,000. Ms. Advaithi will be eligible to participate in the Company’s annual incentive bonus plan and the long-term cash incentive deferred compensation program. Ms. Advaithi also will be eligible to receive awards of performance-based restricted share unit awards and service-based restricted share unit awards under the Company’s equity incentive plan as part of her fiscal 2023 compensation.

Compensation for Paul R. Lundstrom (Chief Financial Officer)

Mr. Lundstrom’s current annual base salary is $735,000. In addition, Mr. Lundstrom was awarded compensation pursuant to an Offer Letter entered into on August 5, 2020, which is summarized in the Company’s Form 8-K filed on August 7, 2020. Mr. Lundstrom will be eligible to participate in the Company’s annual incentive bonus plan and the long-term cash incentive deferred compensation program. Mr. Lundstrom also will be eligible to receive awards of performance-based restricted share unit awards and service-based restricted share unit awards under the Company’s equity incentive plan as part of his fiscal 2023 compensation.

Compensation for Michael Hartung

Mr. Hartung’s current annual base salary is $735,000. In addition, Mr. Hartung will be eligible to participate in the Company’s annual incentive bonus plan and long-term cash incentive deferred compensation plan. Mr. Hartung also will be eligible to receive awards of performance-based restricted share unit awards and service-based restricted share unit awards under the Company’s equity incentive plan as part of his fiscal 2023 compensation.

Compensation for Scott Offer

Mr. Offer’s current annual base salary is $663,000. In addition, Mr. Offer will be eligible to participate in the Company’s annual incentive bonus plan and long-term cash incentive deferred compensation plan. Mr. Offer also will be eligible to receive awards of performance-based restricted share unit awards and service-based restricted share unit awards under the Company’s equity incentive plan as part of his fiscal 2023 compensation.