EXHIBIT 10.65

 

SMTC CORPORATION BOARD COMPENSATION

 

On September 29, 2004, the Board of Directors (“Board”) of SMTC Corporation
revised the fees payable to non-executive directors serving on the Board,
effective as of January 1, 2005, as follows:

 

     $US

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Annual Board retainer

   $ 40,000

Minimum portion of retainer in form of stock or deferred share units (“DSU’s”)
until threshold* attained

   $ 25,000

Annual Audit Committee Member retainer

   $ 4,000

Annual other Committee Member retainer

   $ 2,000

Non-Executive Chairman of the Board additional compensation (no meeting fees)

   $ 35,000

Chairman of the Audit Committee – additional annual retainer

   $ 6,000

Chairman of all other committees – additional annual retainer

   $ 3,000

Board meeting fee — per meeting

   $ 1,200

Committee meeting fee — per meeting

   $ 1,200

Telephone meetings-Board — per meeting

   $ 600

Telephone meetings-Committee — per meeting

   $ 600

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* Threshold of mandatory stock ownership after four years (in shares or DSU’s)

   $ 100,000