Compensation Arrangement between Flextronics International Ltd. and Executive Officers Michael McNamara and Thomas J. Smach
Flextronics International Ltd. has set the annual base salaries for two executive officers, effective January 1, 2006. Michael McNamara, appointed as Chief Executive Officer, will receive a base salary of $1,000,000. Thomas J. Smach, the Chief Financial Officer, will receive a base salary of $650,000. These compensation decisions were approved by the company's Compensation Committee after reviewing performance and market data.
Exhibit 10.03
Compensation Arrangement between Flextronics International Ltd. and Michael McNamara and Thomas J. Smach
On December 22, 2005, the Company’s Compensation Committee approved the annual base salaries of two of the Company’s executive officers after a review of performance and competitive market data. Michael McNamara, who has been appointed to serve as the Company’s Chief Executive Officer effective January 1, 2006, will receive a base salary of $1,000,000 beginning January 1, 2006. Thomas J. Smach, the Company’s Chief Financial Officer, will receive a base salary of $650,000 beginning January 1, 2006.
