Exhibit 10.73


 


Sanmina-SCI FY2008 Corporate Annual G&A Short-Term Incentive Plan


Effective September 29, 2007


 


I.  Intent


 


This Short-Term Incentive
Plan (the “Plan”) is intended to provide financial incentives to Plan
participants.  These incentives are based
on company and personal performance against financial and operational
objectives.


 


II.  General Provisions


 


Base compensation (paid
in accordance with local payroll practice) is separate from the incentive
compensation (bonuses) participants are eligible to earn under this Plan.  Incentive compensation payable (annually) to
a participating employee as set forth in this Plan, will be based on
performance measured against the annual financial and operational objectives
that will be effective as of the beginning of the fiscal year.


 


This Plan supersedes all
prior and current Plans applicable to the participants of this Plan for the
same Plan Period, whether verbal or written, and shall not be modified unless
authorized in writing by the Compensation Committee.  The Company reserves the right to amend or
terminate the Plan during the Plan Period in its sole discretion including the
financial and operational objectives contained in this Plan.  While every effort will be made to hold Plan
changes to a minimum, the Company reserves the right to change the Plan as
deemed necessary.  Changes or
modifications to the terms of incentive compensation of Executive Officers of
the Company under this Plan require approval of the Compensation Committee of
the Board of Directors.  Participation in
this Plan is based on position within the Company and shall be determined by
the Company in its sole discretion.  This
Plan shall be governed interpreted and enforced in accordance with the laws of
the State of California without regard to conflicts laws principles.


 


A participant’s level of
bonus eligibility (i.e., incentive compensation stated as a percentage of base salary)
will be determined by the Company and shall be based upon each Participant’s position
within the Company and total targeted compensation.  Subject to the provisions of the preceding
paragraph concerning Executive Officers, the Company may increase or decrease a
Plan participant’s level of participation (i.e. incentive compensation stated
as a percentage of base salary) at any time, including during the Plan Period.


 


Incentive compensation
payable to Plan participants will not be considered “earned” until such time as
the Plan Period ends, the participant is determined to have met the eligibility
requirements set forth herein, the amount of compensation has been determined
and approved by the Company, and the participant is an active employee of the
Company at the time the incentive compensation is actually paid.


 


III. Definition of Terms


 


Compensation Committee –
The  Compensation Committee of the Company’s
Board of Directors.


 


Executive Officer
– Any persons determined by the Board of Directors to constitute an “officer”
as that term is defined under Section 16 of the Securities Exchange Act
and the rules and regulations promulgated there under.


 

















 


Plan Period -
This is the fixed time period (Fiscal Year) where sales activities and agreed
upon financial and operational objectives are subject to this Plan.  The Plan Period commences at the start of the
Company’s fiscal year which is currently defined as commencing on the Sunday
closest to October 1 and ending on the Saturday closest to September 30.


 


Quantitative Targets
– Revenue, operating margin, and other financial or operational targets are
established before the beginning of the fiscal year as part of the Company’s planning
process and selectively incorporated into the Plan.  Payout of any incentive compensation under
the Plan is directly dependent on the Company’s attainment of the Quantitative
Targets.  The specific Quantitative
Targets for any given fiscal year as incorporated into the Plan are distributed
and communicated to Plan participants separate from this document.  Modifications to these targets require the
approval of the CEO.  For Executive
Officers of the Company, the CEO and the Compensation Committee of the Board of
Directors must approve any modification. 
Attainment is determined at the end of the fiscal year and is based on
actual performance against targets.


 


IV. Incentive Payments


 


Payments under the Plan
are entirely subject to the degree to which the Company achieves its
Quantitative Targets.  To the extent the
Company fails to achieve certain minimum Quantitative Target levels, no payout
will be made under the Plan.  To the
extent the Company achieves performance levels that would otherwise prescribe a
payout under the Plan, the payout for each individual may include: (i) a  calculated  portion payable to the participant which is
based  on the Company’s performance
against its Quantitative Targets (the “Corporate Portion”) and (ii) a
discretionary, second portion that is payable based on an assessment of the
participant’s personal, and/or their division’s performance as assessed by
their respective manager (the “Individual/Division Portion”).  Accordingly, the actual bonus payable to a participant
under the Plan is determined in two steps as follows:


 


1.     Total Eligible Payout: The Company’s
actual performance at the end of the Plan Period is first measured and compared
against each of the Company’s Quantitative Targets.  The earned percentages under each Quantitative
Target are determined and accumulated; added, or subtracted as the case may be.
 This figure, expressed as a percentage,
is the Company Performance Percentage under the Plan.   If the
Company Performance Percentage  is equal to or
less than 0%, no payout is made to any of the Plan participants for the Plan
Period.


 


2.     Target Bonus:  Each individual’s target bonus is calculated
as follows:  Bonus percentage (determined
by level) multiplied by base salary


 


3.     Actual Bonus Payout: If the Company
Performance Percentage (as defined above) is greater than 0%, the Actual Bonus Payout
payable to a Plan participant is then computed as the sum of the following:


 


a.     Company Portion which is calculated
as the product of: (i) the participant’s Target Bonus, (ii) the Company
Performance Percentage and (iii) the Corporate Weighting (i.e. the
percentage of a Plan Participant’s Target Bonus that is earned based solely on
the Company’s attainment of the Quantitative Targets); plus


 


b.     Individual/Division Portion   which is calculated as the product of: (i) the
participant’s Target Bonus, (ii) the Company Performance Percentage, (iii) the
Personal/Division Weighting (i.e. the percentage of a Plan Participant’s Target
Bonus that is earned based on management’s assessment of the personal/division
performance) and (iv) management’s performance assessment.  Management’s performance assessment under
this portion of the payout may range anywhere from 0%, under which no payout
would be made for this portion


 

















 


of the bonus, up
to a maximum of 120%.  An example of the
foregoing is shown in Exhibit I.


 


V. Other


 


Payment of bonus - Bonus
payouts, if any, are expected to be made in U.S. locations no later than by Friday,
December 12, 2008; foreign locations’ payouts are based on their
respective payroll provider schedule, but are to be paid as soon after December 12,
2008 as practicable.  Actual payout dates
shall be in the sole discretion of the Company.


 


Income and payroll taxes
- All bonuses paid under this Plan are subject to required payroll deductions
and withholdings.


 


New Hires -
Employees must commence employment prior to June 30th of the
fiscal year to be eligible to participate in the current Plan Period.  Bonus payments may be prorated from the first
day of employment, for employees hired after the beginning of the Plan Period
and prior to June 30, such that bonus payments equal bonus attainment
multiplied by the percentage of the Plan Period the participant was employed by
the Company.


 


Transfer - Employees
transferring from another bonus plan (e.g. Operations) into the Plan may have
their bonus pro-rated from the date of transfer through the end of the Plan
Period, in the manner described above.


 


Status Change -
Employees promoted mid year from an ineligible position into an eligible
position may have their bonus pro-rated from the date of promotion, in the
manner described above.


 


Performance Improvement Plan –
Employees on a Performance Improvement Plan at any time during the Plan Period  may have their bonus amount eliminated or
adjusted downward at the discretion of the Company.


 


Leave of Absence -  Employees on an approved Leave of Absence (LOA) that is
greater than 100 calendar days  during
the Plan Period , will have their bonus pro-rated for the LOA period (in the
manner described above) unless otherwise required by law or the terms of a
specific LOA policy adopted by the Company (e.g., military leaves).


 


Termination
of Employment - Employees  shall not be entitled
to incentive compensation under this Plan if they are not actively employed at
Sanmina-SCI when the bonus payout is to be made (if any).


 


Plan Interpretation
- Administration and final interpretation of this Plan are the responsibility
of the CEO and the Vice President of Global Compensation and Benefits.  All decisions of such persons shall be final
and binding.


 


Approved:


 


	
   /s/Joseph R.
  Bronson

  	
   

  	
   /s/ Jure Sola

  
	
  Joseph R. Bronson

  	
   

  	
  Jure Sola

  
	
  President and Chief
  Operating Officer

  	
   

  	
  Chairman and Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
  Plan adopted
  July 10, 2008

  	
   

  	
   

  



 

















 


EXHIBIT
I:


Example
Payouts


 


	
  Example 1:

  	
  Bonus Eligibility: 20% of Base
  Salary

  
	
   

  	
  Bonus Weighting: 50% Corporate
  and 50% Personal/Division Performance

  
	
   

  	
  Annual Salary: 100,000

  
	
   

  	
  Target Bonus: 20,000 (100,000 *
  20%)

  
	
   

  	
  Company Performance Percentage
  (determined at end of FY): 45%

  
	
   

  	
  Personal/Division Performance
  (determined by Manager at end of FY): 90%

  
	
   

  	
   

  
	
   

  	
  Determine Company Portion:

  
	
   

  	
   

  	
  Target Bonus * Company Performance Percentage *
  Corporate Weighting

  
	
   

  	
   

  	
  20,000 *45% * 50% = 4,500

  
	
   

  	
  Determine Individual/Division
  Portion:

  
	
   

  	
   

  	
  Target Bonus * Company Performance Percentage *
  Personal/Division Weighting * Personal/Division Performance)

  
	
   

  	
   

  	
  20,000 * 50% * 45% * 90% =
  4,050

  
	
   

  	
  Total Bonus Payable:

  
	
   

  	
   

  	
  Company Portion +
  Individual/Division Portion

  
	
   

  	
   

  	
  4,500 + 4,050 = 8,550

  



 


	
  Example 2:

  	
  Bonus Eligibility:  20% of Base Salary

  
	
   

  	
  Bonus Weighting:  50% Corporate and 50% Personal/Division
  Performance

  
	
   

  	
  Annual Salary: 100,000

  
	
   

  	
  Target Bonus: 20,000 (100,000 *
  20%)

  
	
   

  	
  Corporate Performance Factor
  (determined at end of FY): 0%

  
	
   

  	
   

  
	
   

  	
  No bonus payable if the
  Corporate Performance Factor is equal to 0%.

  
	
   

  	
   

  
	
  Example 3:

  	
  Bonus Eligibility: 20% of Base
  Salary

  
	
   

  	
  Bonus Weighting: 50% Corporate
  and 50% Personal/Division Performance

  
	
   

  	
  Annual Salary: 100,000

  
	
   

  	
  Target Bonus: 20,000 (100,000 *
  20%)

  
	
   

  	
  Company Performance Percentage
  (determined at end of FY): 105%

  
	
   

  	
  Personal/Division Performance (determined by
  Manager at end of FY): 120%

  
	
   

  	
   

  
	
   

  	
  Determine Company Portion:

  
	
   

  	
   

  	
  Target Bonus * Company
  Performance Percentage * Corporate Weighting

  
	
   

  	
   

  	
  20,000 *105% * 50% = 10,500

  
	
   

  	
  Determine Individual/Division
  Portion:

  
	
   

  	
   

  	
  Target Bonus * Company Performance Percentage *
  Personal/Division  Weighting *
  Personal/Division Performance) 

  
	
   

  	
   

  	
  20,000 * 105% * 50% * 120% =
  12,600

  
	
   

  	
  Total Bonus Payable:

  
	
   

  	
   

  	
  Company Portion +
  Individual/Division Portion

  
	
   

  	
   

  	
  10,500 + 12,600 = 23,100