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                                                                   EXHIBIT 10.49








                             SANMINA-SCI CORPORATION

                           DEFERRED COMPENSATION PLAN

                              FOR OUTSIDE DIRECTORS





                             EFFECTIVE JUNE 1, 2002






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                             SANMINA-SCI CORPORATION

                DEFERRED COMPENSATION PLAN FOR OUTSIDE DIRECTORS


                                   ARTICLE I

                                    PURPOSE

               Effective June 1, 2002 the Board of Directors of Sanmina-SCI
Corporation ("Sanmina-SCI") approved the establishment of the Sanmina-SCI
Corporation Deferred Compensation Plan for Outside Directors (the "Plan"). The
purpose of the Plan is to provide eligible Sanmina-SCI Directors an opportunity
to defer payment of all or part of the Compensation which is payable to them for
acting as Directors of Sanmina-SCI.


                                   ARTICLE II

                                  DEFINITIONS

               For purposes of this Plan, the following terms shall have the
meanings indicated, unless the context clearly indicates otherwise:

        2.1 Account. "Account" means the account established for a Participant
pursuant to Article IV. A Participant's Account shall be utilized solely as a
device for the determination and measurement of the amounts to be paid to the
Participant pursuant to this Plan and shall not constitute or be treated as a
trust fund of any kind.

        2.2 Beneficiary. "Beneficiary" means the person, persons or entity
entitled under Article VI to receive any Plan benefits payable after a
Participant's death.

        2.3 Board of Directors. Board of Directors means the Board of Directors
of Sanmina-SCI.

        2.4 Change of Control. "Change of Control" means:

               (a) The purchase or other acquisition by any person, entity or
        group of persons, within the meaning of section 13(d) or 14(d) of the
        Securities Exchange Act of 1934 (`Act'), or any comparable successor
        provisions, of beneficial ownership (within the meaning of Rule 13d-3
        promulgated under the Act) of thirty percent (30%) or more of either the
        outstanding shares of common stock or the combined voting power of the
        Company's then outstanding voting securities entitled to vote generally;
        or,

               (b) The approval by the stockholders of the Company of a
        reorganization, merger, or consolidation, in each case, with respect to
        which persons who were stockholders of Company immediately prior to such
        reorganization, merger or consolidation do not, immediately thereafter,
        own more than fifty percent (50%) of the combined voting power entitled
        to vote generally in the election of directors of the reorganized,
        merged or consolidated Company's



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        then outstanding securities, (excluding a merger effected exclusively
        for the purpose of changing the domicile of the Company): or,

               (c) A liquidation or dissolution of Company; or,

               (d) The sale of all or substantially all of Company's assets..

        2.5 Code. "Code" means the Internal Revenue Code, as amended from time
to time.

        2.6 Committee. "Committee" means the persons appointed by the Board of
Directors to administer the Plan in accordance with Article VII.

        2.7 Common Stock. "Common Stock" means the shares of common stock of
Sanmina-SCI.

        2.8 Compensation. "Compensation" means all fees payable to such Director
during the year, including the retainer for service as a member of the Board of
Directors or any committees thereof and meeting fees. Fees payable in the form
of Common Stock and any expense reimbursements for attending Board or Committee
meetings shall not be included in the definition of Compensation.

        2.9 Deferral Commitment. "Deferral Commitment" means an election to
defer Compensation made by a Participant pursuant to Article III and for which
the Participant has submitted a separate Participation Agreement to the
Committee.

        2.10 Deferral Period. "Deferral Period" means the period over which a
Director has elected to defer his Compensation. Each calendar year shall be a
separate Deferral Period. However, for the initial Deferral Period under the
Plan or for a newly eligible Director, the Deferral Period shall be the portion
of the calendar year following timely submission of the Participation Agreement
to the Committee.

        2.11 Deferred Compensation. "Deferred Compensation," means the amount of
Compensation that a Participant elects to defer pursuant to a Deferral
Commitment.

        2.12 Eligible Director. "Eligible Director" means any individual who is
a member of the Board of Directors and who is not an employee of Sanmina-SCI or
any of its subsidiaries.

        2.13 Market Value. "Market Value" means, with respect to one share of
Common Stock on any date, the closing price for Sanmina-SCI Common Stock listed
in the composite tables in the "Wall Street Journal" for the applicable date.

        2.14 Participant. "Participant" means any Eligible Director who has made
an election under Article III to defer any portion of his or her Compensation
for any Plan Year.

        2.15 Participation Agreement. "Participation Agreement" means the
Deferral Commitment agreement submitted by a Participant to the Committee
pursuant to Article III.

        2.16 Plan Benefit. "Plan Benefit" means the benefit payable to a
Participant as calculated in Article V.



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        2.17 Plan Year. "Plan Year" means the calendar year.

        2.18 Share Units. "Share Units" means a unit of measurement equivalent
to one share of Common Stock, with none of the attendant rights of a holder of
such share, including, without limitation, the right to vote such share and the
right to receive dividends thereon, except to the extent otherwise specifically
provided herein.


                                  ARTICLE III

                              DEFERRAL COMMITMENTS

        3.1 Participation. An Eligible Director may elect to participate in this
Plan with respect to any Deferral Period by submitting a Participation Agreement
to the Committee, prior to the date established by the Committee, in the
calendar year immediately preceding the Deferral Period. Notwithstanding the
forgoing, an election to participate in the Plan for the initial Deferral Period
shall be timely if made by the date established by the Committee. Such first
year election will be made during the current calendar year, but will be to
defer Compensation for services to be performed subsequent to the date of the
election. Participation Agreements shall be subject to the review and approval
of the Compensation Committee of the Board.

        3.2 Partial Year Participation. In the event that a Director first
becomes eligible to participate during a calendar year, a Participation
Agreement must be submitted to the Committee no later than thirty (30) days
following notification to the employee of eligibility to participate. Such
Participation Agreement shall be effective only with regard to Compensation
earned following the submission of the Participation Agreement to the Committee.

        3.3 Elective Deferrals. In a Deferral Commitment, an Eligible
Director may elect to defer all or part of the Compensation payable to the
Director during the Plan Year. Once made, a Deferral Commitment shall be
irrevocable for the Plan Year.

        3.4 Limitations on Deferral Commitments. The following limitations shall
apply to Deferral Commitments:

               (a) Minimum. The minimum Deferral Commitment shall be two
        thousand dollars ($2,000) per Deferral Period.

               (b) Maximum. The maximum Deferral Commitment shall be one hundred
        percent (100%).

               (c) Changes in Minimum or Maximum. The Committee may amend the
        Plan to change the minimum or maximum deferral amounts from time to time
        by giving written notice to all Participants. No such change may affect
        a Deferral Commitment made prior to the Committee's action.



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                                   ARTICLE IV

                         DEFERRED COMPENSATION ACCOUNTS

        4.1 Accounts. For record keeping purposes only, separate accounts shall
be maintained on Sanmina-SCI's books and records for each Participant to reflect
the Participant's interest under the Plan.

        4.2 Deferred Compensation. The amount of Compensation deferred by each
Participant shall be credited to his or her Account as of the date the deferred
Compensation would otherwise have been payable. Any withholding of taxes or
other amounts which is required by state, federal or local law with respect to
deferred Compensation shall be withheld from the Participant's non-deferred
Compensation to the maximum extent possible with any excess reducing the amount
deferred.

        4.3 Share Units. The amounts credited to a Participant's Account shall
be converted into Share Units. The number of Share Units shall be determined by
dividing the Compensation deferred by the Market Value of one share of Common
Stock on the date as of which the amount is credited.

        4.4 Dividends. On each dividend record date, the Participant's Accounts
shall be credited with the cash equivalent of any dividends which Sanmina-SCI
would have otherwise paid on Common Stock shares equal to the number of Share
Units credited to the Accounts. Such contributions shall be converted into
additional Share Units based on the valuation method provided in Section 4.3. In
addition, the stock equivalent of any stock dividends paid on Common Stock shall
be credited to the Participant's Account on the record date and will be
reflected as additional Share Units. Dividends shall continue to be credited to
a Participant's Account until the final payment is made from the Account.

        4.5 Determination of Accounts. The value of each Participant's Account
shall be determined at the end of each trading day. The value shall be based on
the Market Value for that day times the number of Share Units credited to the
Account.

        4.6 Vesting of Accounts. Participants shall be 100% vested in their
Accounts at all times.

        4.7 Statement of Accounts. The Committee shall submit to each
Participant, within thirty (30) days after the close of each calendar quarter
and at such other time as determined by the Committee, a statement setting forth
the balance of and the credits to the Accounts maintained for such Participant.

        4.8 Adjustment of Share Units. In the event of any change in the Common
Stock occurring by reason of any stock dividend, recapitalization,
reorganization, merger, consolidation, split-up, combination or exchange of
shares, or any rights offering to purchase such shares at a price substantially
below fair market value, or any similar change affecting the Common Stock, the
number and kind of shares represented by the Share Units shall be appropriately
adjusted consistent with such change in such manner as the Committee, in its
sole



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discretion, may deem equitable to prevent substantial dilution or enlargement of
the rights granted to, or available for, the Participants hereunder. The
Committee shall give notice to each Participant of any adjustment made pursuant
to this Section and, upon such notice; such adjustment shall be effective and
binding for all purposes of the Plan.


                                   ARTICLE V

                                 PLAN BENEFITS

        5.1 After Termination of Director Service. Upon a Participant's
termination of service as a Director, the Participant shall become entitled to
receive the payment of the Participant's Account. The value of the Participant's
Account as of such date shall be payable in whole shares of Common Stock (and
cash to the extent of any fractional shares) in a single payment no later than
ninety (90) days thereafter. In the event that the Participant terminates
service as a Director because of his or her death, payment will be made to the
Participant's Beneficiary within ninety (90) days of Participant's death.

        5.2 Change of Control. Notwithstanding the foregoing, in the event
of the occurrence of a "Change of Control", the value of each Participant's
Account, determined as of the date of the Change of Control, shall be paid to
each Participant in cash in a single payment no later than ten (10) days
following such change of control.

        5.3 Tax Withholding. To the extent required by federal, state, or local
law in effect at the time payments are made, Sanmina-SCI shall withhold from any
amount that is included in the Participant's income hereunder any taxes required
to be withheld by such law(s).

        5.4 Payment to Guardian. The Committee may direct payment to the duly
appointed guardian, conservator, or other similar legal representative of a
Participant or Beneficiary to whom payment is due. In the absence of such a
legal representative, the Committee may, in its sole and absolute discretion,
make payment to a person having the care and custody of a minor, incompetent or
person incapable of handling the disposition of property upon proof satisfactory
to the Committee of incompetence, minority, or incapacity. Such distribution
shall completely discharge the Committee from all liability with respect to such
benefit.


                                   ARTICLE VI

                            BENEFICIARY DESIGNATION

        6.1 Beneficiary Designation. Subject to Section 6.3, each Participant
shall have the right, at any time, to designate one (1) or more persons or an
entity as Beneficiary (both primary as well as secondary) to whom benefits under
this Plan shall be paid in the event of such Participant's death prior to
complete distribution of the Participant's Accounts. Each Beneficiary
designation shall be in a written form prescribed by the Committee and shall be
effective only when filed with the Committee during the Participant's lifetime.

        6.2 Changing Beneficiary. Subject to Section 6.3, any Beneficiary
designation, other than the Participant's spouse, may be changed by a
Participant without the consent of the



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previously named Beneficiary by the filing of a new Beneficiary designation with
the Committee. The filing of a new properly completed Beneficiary designation
shall cancel all Beneficiary designations previously filed.

        6.3 Community Property. If the Participant resides in a community
property state, any Beneficiary designation shall be valid or effective only as
permitted under applicable law.

        6.4 No Beneficiary Designation. If any Participant fails to designate a
Beneficiary in the manner provided in Section 6.1 and subject to Section 6.3, if
the Beneficiary designation is void, or if the Beneficiary designated by a
deceased Participant dies before the Participant or before complete distribution
of the Participant's Accounts, the Participant's Beneficiary shall be the person
in the first of the following classes in which there is a survivor:

               (a) The Participant's spouse;

               (b) The Participant's children in equal shares, except that if
        any of the children predeceases the Participant but leaves issue
        surviving, then such issue shall take, by right of representation, the
        share the parent would have taken if living; or

               (c) The Participant's estate.


                                  ARTICLE VII

                                 ADMINISTRATION

        7.1 Committee. This Plan shall be administered by the Committee. The
Committee shall have the discretionary authority to interpret and enforce all
appropriate rules and regulations for the administration of this Plan and decide
or resolve any and all questions, including interpretations of this Plan, as may
arise. A majority vote of the Committee members shall control any decision.
Members of the Committee may be Participants under this Plan.

        7.2 Agents. The Committee may, from time to time, employ agents and
delegate to them such administrative duties as it sees fit, and may, from time
to time, consult with counsel who may be counsel to the Company.

        7.3 Binding Effect of Decisions. The decision or action of the Committee
with respect to any question arising out of or in connection with the
administration, interpretation and application of this Plan and the rules and
regulations promulgated hereunder shall be final, conclusive and binding upon
all persons having any interest in this Plan.

        7.4 Indemnification of Committee. The Sanmina-SCI shall indemnify and
hold harmless the members of the Committee against any and all claims, loss,
damage, expense or liability arising from any action or failure to act with
respect to this Plan on account of such member's service on the Committee,
except in the case of gross negligence or willful misconduct by such member or
as expressly provided by statute.



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                                  ARTICLE VIII

                       AMENDMENT AND TERMINATION OF PLAN

        8.1 Amendment. The Board of Directors may at any time amend this Plan by
written instrument, notice of which is given to all Participants and to any
Beneficiaries to whom a benefit is due. No amendment shall reduce the amount
accrued in any Accounts as of the date such notice of the amendment is given.

        8.2 Right to Terminate Plan. The Board of Directors may at any time
partially or completely terminate this Plan if, in its judgment, the tax,
accounting, or other effects of the continuance of this Plan would not be in the
best interests of Sanmina-SCI.

               (a) Partial Termination. The Board of Directors may partially
        terminate this Plan by instructing the Committee not to accept any
        additional Deferral Commitments. If such a partial termination occurs,
        this Plan shall continue to operate and be effective with regard to
        Deferral Commitments entered into prior to the effective date of such
        partial termination.

               (b) Complete Termination. The Board of Directors may completely
        terminate this Plan by choosing not to accept any additional Deferral
        Commitments, and by terminating all ongoing Deferral Commitments. If
        such a complete termination occurs, this Plan shall cease to operate and
        the Employer shall pay out all Accounts. Payment shall be made in
        accordance with Section 5.1 within sixty (60) days after the Plan is
        terminated.


                                   ARTICLE IX

                                 MISCELLANEOUS

        9.1 Unfunded Plan. A Participant shall have the status of a general
unsecured creditor of Sanmina-SCI with respect to his or her right to receive
any payment under the Plan. The Plan shall constitute a mere promise by
Sanmina-SCI to make payments in the future of the benefits provided for herein.
It is intended that the arrangements reflected in this Plan be treated as
unfunded for tax purposes.

        9.2 Trust Fund. Sanmina-SCI may, but shall not be required to, establish
a trust to assist it in providing for any of its payment obligations under the
Plan. If any such trust is established, all of the assets of the trust shall, at
all times prior to payment to Participants, remain subject to the claims of
Sanmina-SCI's creditors; and no Participant or Beneficiary shall have any
preferred claim on, or any beneficial ownership interest in, any assets of the
trust. Any trust so established shall also contain such other terms and
provisions as will permit the trust to be treated as a "grantor trust" under the
Internal Revenue Code of 1986, of which Sanmina-SCI is the grantor. If any such
trust is established, Sanmina-SCI shall be relieved of its obligation hereunder
to pay any amounts or shares of Common Stock to any Participant or Beneficiary,
to the extent that such amounts or shares are paid to the Participant or
Beneficiary from such trust.

        9.3 Nonalienability. The Committee may recognize the right of an
alternate payee



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named in a domestic relations order to receive all or a portion of a
Participant's benefit under this Plan, provided that (a) the domestic relations
order would be a "qualified domestic relations order" within the meaning of Code
Section 414(p) if Code Section 414(p) were applicable to this Plan; (b) the
domestic relations order does not purport to give the alternate payee any right
to assets of the Sanmina-SCI or its affiliates; and (c) the domestic relations
order does not purport to give the alternate payee any right to receive payments
under this Plan before the Participant is eligible to receive such payments.
Except as set forth in the preceding two sentences with respect to domestic
relations orders, and except as required under applicable federal, state, or
local laws concerning the withholding of tax, rights to benefits payable under
this Plan are not subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge, attachment or other legal process, or encumbrance
of any kind. Any attempt to alienate, sell, transfer, assign, pledge, or
otherwise encumber any such supplemental benefit, whether currently or
thereafter payable, shall be void.

        9.4 Governing Law. The provisions of this Plan shall be construed and
interpreted according to the laws of the state of California.

        9.5 Validity. In case any provision of this Plan shall be held illegal
or invalid for any reason, said illegality or invalidity shall not affect the
remaining parts hereof, but this Plan shall be construed and enforced as if such
illegal and invalid provision had never been inserted herein.

        9.6 Notice. Any notice required or permitted under this Plan shall be
sufficient if in writing and hand delivered or sent by registered or certified
mail. Such notice shall be deemed as given as of the date of delivery or, if
delivery is made by mail, as of the date shown on the postmark on the receipt
for registration or certification. Mailed notice to the Committee shall be
directed to the Company's address. Mailed notice to a Participant or Beneficiary
shall be directed to the individual's last known address in Sanmina-SCI's
records.

        9.7 Successors. The obligations of Sanmina-SCI under the Plan shall be
binding upon any successor corporation or organization resulting from the
merger, consolidation or other reorganization of Sanmina-SCI, or upon any
successor corporation or organization succeeding to substantially all of the
assets and business of Sanmina-SCI.

In Witness Whereof, Sanmina-SCI has caused its duly authorized officers to
execute this Plan as of the ___ day of September, 2002.



SANMINA-SCI CORPORATION




By   /s/ Carmine Renzulli
  ---------------------------------------

Its  SR. VICE PRESIDENT, HUMAN RESOURCES
   --------------------------------------



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