Flextronics International Ltd. Executive Officer Compensation Arrangements (2008–2009)

Contract Categories: Human Resources › Compensation Agreements
Summary

Flextronics International Ltd. has set compensation terms for several executive officers for fiscal year 2009. The Board approved specific annual base salaries for Michael McNamara (CEO), Paul Read (CFO), Werner Widmann (President, Multek division), Christopher Collier (SVP, Finance), and Carrie Schiff (SVP and General Counsel). Each executive will also participate in the company's annual and three-year cash incentive bonus plans. Additionally, Mr. McNamara received a special performance bonus for fiscal year 2008. These arrangements outline the main salary and bonus components for the named executives.

Read More Arrow
EX-10.01 2 d59008exv10w01.htm EX-10.01 COMPENSATION ARRANGEMENTS OF CERTAIN EXECUTIVE OFFICERS exv10w01
EXHIBIT 10.01
Compensation Arrangements of Certain Executive Officers of Flextronics International 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 2008 fiscal year are included in the Company’s definitive proxy statement for the Company’s 2008 Annual General Meeting of Shareholders, and disclosures with respect to compensation for Named Executive Officers for the 2009 fiscal year will be included in the Company’s definitive proxy statement for the Company’s 2009 Annual General Meeting of Shareholders.
Compensation for Michael McNamara (Chief Executive Officer)
          On June 2, 2008, the Board approved an annual base salary for Mr. McNamara of $1,250,000 for fiscal year 2009. In addition, Mr. McNamara will participate in the Company’s annual incentive bonus plan and three-year cash incentive bonus plan. The Board also approved a special performance bonus of $1,200,000 for fiscal year 2008.
Compensation for Paul Read (Chief Financial Officer)
          On June 2, 2008, the Board approved an annual base salary for Mr. Read of $600,000 effective May 15, 2008. In addition, Mr. Read will participate in the Company’s annual incentive bonus plan and three-year cash incentive bonus plan.
Compensation for Werner Widmann
          On April 30, 2008, the Board approved an annual base salary for Mr. Widmann, President of the Company’s Multek division, of $485,000 for fiscal 2009. In addition, Mr. Widmann will participate in the Company’s annual incentive bonus plan and three-year cash incentive bonus plan.
Compensation for Christopher Collier
          On April 30, 2008, the Board approved an annual base salary for Mr. Collier, Senior Vice President, Finance, of $400,000 for fiscal 2009. In addition, Mr. Collier will participate in the Company’s annual incentive bonus plan and three-year cash incentive bonus plan.
Compensation for Carrie Schiff
          On April 30, 2008, the Board approved an annual base salary for Ms. Schiff, Senior Vice President and General Counsel, of $425,000 for fiscal 2009. In addition, Ms. Schiff will participate in the Company’s annual incentive bonus plan and three-year cash incentive bonus plan.