Amendment to Employment Addendum between Sanmina-SCI Corporation and Michael R. Tyler (November 15, 2007)

Contract Categories: Human Resources › Employment Agreements
Summary

Sanmina-SCI Corporation and Michael R. Tyler have amended a previous employment addendum to comply with Section 409A of the Internal Revenue Code. If Mr. Tyler's employment is terminated by the company without cause or if he leaves for good reason, he will receive twelve months of salary, provided he signs an Agreement and General Release. All other terms of the original addendum remain unchanged.

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EX-10.47 3 ex10-47.htm EXHIBIT 10.47 ex10-47.htm

EXHIBIT 10.47

November 15, 2007
  
Michael R. Tyler
 
Dear Mike:
 
This letter will amend the addendum dated as of February 28 (the “Addendum”) to the letter offer of employment to you from Sanmina-SCI, dated as of February 23, 2007. The purpose of this amendment is to bring the Addendum into compliance with Section 409A of the Internal Revenue Code. Section 4 of the Addendum shall be amended as follows:
 
4.     If your employment is terminated by Sanmina-SCI without “cause”, or if you leave the Company for “good reason,” as the term “cause” has been previously defined between you and Sanmina-SCI, and “good reason” is defined in the safe harbor provisions in Treas. Reg. § 1.409A-1(n) (2), as amended, then you will receive twelve months of salary, upon execution by you, of an Agreement and General Release.
 
All other provisions of the Addendum remain the same.
 
Sincerely:
 
/s/WAYNE SHORTRIDGE
  
Wayne Shortridge
Chairman, Compensation Committee
Sanmina-SCI Corporation
 
 Agreed to and accepted this 15 day of November, 2007.
 
/s/ MICHAEL TYLER
  
Michael R. Tyler