**Exhibit 10.1****SOLECTRON CORPORATION****ROOP KAYLAN LAKKARAJU EMPLOYMENT AGREEMENT**     This Employment Agreement (the “Agreement”) is made by and between Solectron Corporation (the“Company”), and Roop Kaylan Lakkaraju (“Executive”) as of April 17, 2007 (the “Effective Date”).     1. Duties and Scope of Employment.          (a) Positions and Duties. Executive will serve as the Company’s Senior Vice President& Interim Chief Financial Officer, reporting to the Company’s Interim President and Chief ExecutiveOfficer (the “CEO”). Executive will render such business and professional services in theperformance of Executive’s duties, consistent with Executive’s position within the Company, as willreasonably be assigned to Executive by the CEO or the CEO’s designate or successor. The period ofExecutive’s employment under this Agreement is referred to herein as the “Employment Term.”          (b) Obligations. During the Employment Term, Executive will devote Executive’s fullbusiness efforts and time to the Company. For the duration of the Employment Term, Executiveagrees not to actively engage in any other employment, occupation or consulting activity for anydirect or indirect remuneration without the prior approval of the Board of Directors of the Company(the “Board”) (which approval will not be unreasonably withheld); provided, however, that Executivemay, without the approval of the Board, serve in any capacity with any civic, educational orcharitable organization, provided such services do not interfere with Executive’s obligations toCompany.     2. Employee Benefits. During the Employment Term, Executive will be eligible toparticipate in accordance with the terms of all Company employee benefit plans, policies andarrangements that are applicable to other senior executives of the Company, as such plans, policiesand arrangements and terms may exist from time to time.     3. At-Will Employment. Executive and the Company agree that Executive’s employmentwith the Company constitutes “at-will” employment. Executive and the Company acknowledge that thisemployment relationship may be terminated at any time, upon written notice to the other party, withor without good cause or for any or no cause, at the option either of the Company or Executive.However, as described in this Agreement, Executive may be entitled to severance benefits dependingupon the circumstances of Executive’s termination of employment.     4. Compensation.          (a) Base Salary. During the Employment Term, the Company will pay Executive an annualsalary of $385,008 commencing as of April 14, 2007 as compensation for his services (the “BaseSalary”). The Base Salary will be paid through payroll periods that are consistent with theCompany’s normal payroll practices, but in all events will not be less frequent than once permonth.
 

 
Executive’s salary will be subject to review and adjustments will be made based upon theCompany’s normal performance review practices.          (b) Bonuses. Executive may participate in any bonus plan or similar arrangement theCompany may have in place that is applicable to other senior executives of the Company, on suchterms and conditions as the Executive Compensation and Management Resources Committee of the Board(the “Committee”) may determine from time to time in its discretion. Executive’s target annualbonus shall be 100 percent of Executive’s Base Salary, payable upon achievement of goals andobjectives established by the CEO and subject to Committee review, adjustment and approval. Inaddition, Executive will receive a one-time performance bonus in the amount of $150,000 (the“Special Bonus”) on April 18, 2007; provided; however, Executive shall repay a prorated portion ofthe Special Bonus to the Company if Executive’s employment with the Company is terminated for Causeor Executive voluntarily terminates his employment relationship with the Company (other than forGood Reason, death or disability) prior to September 1, 2008. Such prorated portion shall equal:(i) $150,000 multiplied by (ii) the quotient of (x) the number of days between Executive’stermination date and September 1, 2008 and (y) the total number of days between April 18, 2007 andSeptember 1, 2008.          (c) Deferred Compensation. Unless Executive’s employment has been terminated, theCompany shall contribute $100,000 (the “Contribution Amount”) to the account of Executive under theCompany’s Executive Deferred Compensation Plan on October 15, 2007. This contribution shall fullyvest and shall be no longer subject to forfeiture upon the earlier to occur of (i) Executive’semployment termination pursuant to the provisions of Sections 5(a) or 5(b) or (ii) October 15,2008. If Executive’s employment is terminated pursuant to Section 5(b), prior to October 15, 2007,the Contribution Amount will be added to the severance amounts payable to Executive under Section5(b)(i).          (d) Stock Options. Executive will be eligible to receive options to purchase theCompany’s common stock pursuant to any plans or arrangements it may have in effect from time totime. The Committee will determine in its discretion whether Executive will be granted any suchoption or options and the terms of any such option or options in accordance with the terms of anyapplicable plan or arrangement that may be in effect from time to time. Subject to the approval ofthe Executive Compensation and Management Resources Committee, on April 17, 2007, Executive will beentitled to receive a discounted option grant to purchase 300,000 shares of the Company’s commonstock with an exercise price of $0.001 per share, and such exercise price will be waived in lieuof services to be provided by Executive. Such discounted option shall be deemed exercised on thedate of grant and the restricted shares of common stock shall vest 50% on April 10, 2008 and 50% onApril 10, 2009. .     5. Severance.          (a) Involuntary Termination other than for Cause, Death or Disability Prior to a Change ofControl or After Twelve Months Following a Change of Control. If the Company terminatesExecutive’s employment with the Company without Executive’s consent and for a reason other thanCause, Executive becoming Disabled or Executive’s death, any of which occur prior to a Change ofControl or after twelve (12) months following a Change of Control and Executive signs
 

 
and delivers to the Company a separation agreement and release of claims in a formsatisfactory to the Company, then promptly following such termination of employment, or, if later,the effective date of the separation agreement and release of claims, Executive will receive thefollowing severance from the Company:          (i) Accrued Compensation. Executive will be entitled to receive all accrued vacation,expense reimbursements and any other benefits due to Executive through the date of termination ofemployment in accordance with the Company’s then existing employee benefit plans, policies andarrangements.          (ii) Severance Payment. Executive will be paid continuing payments of severance payat a rate equal to Executive’s Base Salary rate, as then in effect, and Executive’s target bonusfor the year of termination, for a period of twelve (12) months plus one additional month for everyfull year Executive has been employed with the Company as of the date of such termination, not toexceed twenty-four (24) months (the “Severance Payment Period”), from the date of such termination,to be paid periodically in accordance with the Company’s normal payroll policies; provided,however, that if during the Severance Payment Period Executive engages in Competition or breachesthe covenants in Section 12 or in the separation agreement, all payments pursuant to thissubsection will immediately cease          (iii) Continued Employee Benefits. Executive will receive Company-paid coverageduring the Severance Payment Period for Executive and Executive’s eligible dependents under theCompany’s Benefit Plans; provided, however, that if during the Severance Payment Period Executiveengages in Competition or breaches the covenants in Section 12 or in the separation agreement, allCompany-paid coverage pursuant to this subsection will immediately cease.          (iv) Payments or Benefits Required by Law. Executive will receive such othercompensation or benefits from the Company as may be required by law (for example, “COBRA” coverageunder Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”)).     (b) Involuntary Termination other than for Cause or Resignation for Good Reason withinTwelve Months of a Change of Control. If within twelve (12) months following a Change ofControl (i) Executive resigns from his or her employment with the Company (or any parent orsubsidiary of the Company) for Good Reason or (ii) the Company (or any parent or subsidiary of theCompany) terminates Executive’s employment for other than Cause, and Executive signs and deliversto the Company a separation agreement and release of claims in a form satisfactory to the Company,then promptly following such termination of employment, or, if later, the effective date of theseparation agreement and release of claims, Executive will receive the following severance from theCompany:          (i) Severance Payment. For a period of twenty-four (24) months following Executive’stermination of employment (the “Change of Control Severance Payment Period”), Executive will bepaid continuing payments of severance pay equal to Executive’s average Base Salary rate for the twoyears prior to such termination, and Executive’s average annual target bonus for the two yearsprior to such termination, to be paid in equal installments periodically in
 

 
accordance with the Company’s normal payroll practices; provided, however, that if Executivehas been employed in this position for less than two years prior to such termination, for a periodof twenty-four (24) months following such termination, Executive will be paid continuing paymentsof severance pay equal to Executive’s average Base Salary rate for the period Executive wasactually employed with the Company in this position, and Executive’s average annual target bonusfor the period Executive was actually employed with the Company in this position, to be paid inequal installments periodically in accordance with the Company’s normal payroll practices;provided, further, that in the event Executive engages in Competition or breaches the covenants inSection 12 or in the separation agreement during the Change of Control Severance Payment Period,all payments pursuant to this subsection will immediately cease.          (ii) Equity Awards. Executive’s then outstanding options to purchase shares of theCompany’s Common Stock (whether granted on, before or after the date of this Agreement) (the“Options”) will immediately vest and become exercisable as to 100% of the shares subject to suchOptions. Additionally, shares of the Company’s Common Stock then held by Executive subject to aCompany repurchase or reacquisition right (whether issued on, before or after the date of thisAgreement) (the “Restricted Stock”) will immediately vest and have such Company right of repurchaseor reacquisition lapse as to 100% of such shares. Additionally, Executive will have a period ofthree (3) months following such termination of employment to exercise Executive’s Options, but inno event beyond the original maximum term of the Option. In all other respects the Options andRestricted Stock will continue to be bound by and subject to the terms of their respectiveagreements.          (iii) Continued Employee Benefits. Executive will receive Company-paid coverage for aperiod of thirty-six (36) months for Executive and Executive’s eligible dependents under theCompany’s Benefit Plans; provided, however, that in the event Executive engages in Competition orbreaches the covenants in Section 12 or in the separation agreement during the thirty-six monthperiod following such termination, all Company-paid coverage pursuant to this subsection willimmediately cease.          (iv) Payments or Benefits Required by Law. Executive will receive such othercompensation or benefits from the Company as may be required by law (for example, “COBRA” coverageunder Section 4980B of the Code).     (c) Other Terminations. If Executive voluntarily terminates Executive’s employmentwith the Company (other than for Good Reason within twelve (12) months of a Change of Control) orif the Company terminates Executive employment with the Company for Cause, then Executive will (i)receive the Base Salary through the date of termination of employment, (ii) receive all accruedvacation, expense reimbursements and any other benefits due to Executive through the date oftermination of employment in accordance with established Company plans, policies and arrangements,and (iii) not be entitled to any other compensation or benefits (including, without limitation,accelerated vesting of stock options) from the Company except to the extent provided under theapplicable stock option agreement(s) or as may be required by law (for example, “COBRA” coverageunder Section 4980B of the Code).
 

 
          (d) Termination due to Death or Disability. If Executive’s employment with theCompany is terminated due to Executive’s death or Executive’s becoming Disabled, then Executive orExecutive’s estate (as the case may be) will (i) receive the Base Salary through the date oftermination of employment, (ii) receive all accrued vacation, expense reimbursements and any otherbenefits due to Executive through the date of termination of employment in accordance withCompany-provided or paid plans, policies and arrangements, and (iii) not be entitled to any othercompensation or benefits from the Company except to the extent required by law (for example,“COBRA” coverage under Section 4980B of the Code).          (e) Section 409A. Any cash severance to be paid pursuant to Sections 4(b), 5(a)(ii)and 5(b)(i) will not be paid during the six-month period following Executive’s termination ofemployment, unless the Company reasonably determines that paying such amounts immediately followingExecutive’s termination of employment would not result the imposition of additional tax underSection 409A of the Code (“Section 409A”), in which case such amounts shall be paid in accordancewith normal payroll practices. If no cash severance is paid to Executive as a result of theprevious sentence, on the first day following such six-month period, the Company will pay Executivea lump-sum amount equal to the cumulative amounts that would have otherwise been paid to Executivepursuant to Sections 5(a)(ii) and 6(b)(i). Thereafter, Executive will receive his cash severancepayments pursuant to Sections 5(a)(ii) and 6(b)(i) in accordance with the Company’s normal payrollpractices.     6. Golden Parachute Excise Tax.          (a) In the event it will be determined that any payment or distribution by the Company orother amount with respect to the Company to or for the benefit of Executive, whether paid orpayable or distributed or distributable pursuant to the terms of this Agreement or otherwise, butdetermined without regard to any additional payments required under this Section 6 (a “Payment”),is (or will be) subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of1986, as amended (the “Code”) or any interest or penalties are (or will be) incurred by Executivewith respect to the excise tax imposed by Section 4999 of the Code with respect to the Company (theexcise tax, together with any interest and penalties, are hereinafter collectively referred to asthe “Excise Tax”), Executive will be entitled to receive an additional cash payment (a “Gross-UpPayment”) from the Company in an amount equal to the sum of the Excise Tax and an amount sufficientto pay the cumulative Excise Tax and all cumulative income taxes (including any interest andpenalties imposed with respect to such taxes) relating to the Gross-Up Payment so that the netamount retained by Executive is equal to all payments to which Employee is entitled pursuant to theterms of this Agreement (excluding the Gross-Up Payment) or otherwise less income taxes (but notreduced by the Excise Tax or by income taxes attributable to the Gross-Up Payment).          (b) Subject to the provisions of Section 6(c), all determinations required to be made underthis Section 6, including whether and when a Gross-Up Payment is required and the amount of suchGross-Up Payment and the assumptions to be utilized in arriving at the determination, will be madeby a nationally recognized certified public accounting firm selected by the Company with theconsent of Executive, which should not unreasonably be withheld (the “Accounting Firm”) which willprovide detailed supporting calculations both to the Company and Executive within 30 days after thereceipt of notice from Executive that there has been a Payment, or
 

 
such earlier time as is requested by the Company. All fees and expenses of the AccountingFirm will be borne solely by the Company. The Company, as determined in accordance with thisSection 6, will pay any Gross-Up Payment to Executive within five days after the receipt of theAccounting Firm’s determination. If the Accounting Firm determines that no Excise Tax is payableby Executive, it will so indicate to Executive in writing. Any determination by the AccountingFirm will be binding upon the Company and Executive. As a result of uncertainty in the applicationof Section 4999 of the Code at the time of the initial determination by the Accounting Firm, it ispossible that Gross-Up Payments that the Company should have made will not have been made (an“Underpayment”), consistent with the calculations required to be made hereunder. In the event theCompany exhausts its remedies in accordance with Section 6(c) and Executive thereafter is requiredto make a payment of any Excise Tax, the Accounting Firm will determine the amount of Underpaymentthat has occurred and the Underpayment will be promptly paid by the Company to or for the benefitof Executive.          (c) Executive will notify the Company in writing of any claim by the Internal Revenue Servicethat, if successful, would require a Gross-Up Payment (that has not already been paid by theCompany). The notification will be given as soon as practicable but no later than ten businessdays after Executive is informed in writing of the claim and will apprise the Company of the natureof the claim and the date on which the claim is requested to be paid. Executive will not pay theclaim prior to the expiration of the 30-day period following the date on which Executive givesnotice to the Company or any shorter period ending on the date that any payment of taxes withrespect to the claim is due. If the Company notifies Executive in writing prior to the expirationof the 30-day period that it desires to contest the claim, Executive will:               (i) give the Company any information reasonably requested by the Company relating to theclaim;               (ii) take any action in connection with contesting the claim as the Company will reasonablyrequest in writing from time to time, including, without limitation, accepting legal representationwith respect to the claim by an attorney reasonably selected by the Company;               (iii) cooperate with the Company in good faith in order effectively to contest the claim; and               (iv) permit the Company to participate in any proceedings relating to the claim.          (d) The Company will bear and pay directly all costs and expenses (including additionalinterest and penalties) incurred in connection with the contest and will indemnify and holdExecutive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest andpenalties with respect thereto) imposed as a result of the representation and payment of costs andexpenses. Without limitation of the forgoing provisions of this Section 6, the Company willcontrol all proceedings taken in connection with the contest and, at its sole option, may pursue orforgo any and all administrative appeals, proceedings, hearings, and conferences with the taxingauthority in respect of the claim and may, at its sole option, either direct Executive to pay thetax claimed and
 

 
sue for a refund or contest the claim in any permissible manner, and Executive agrees toprosecute the contest to a determination before any administrative tribunal, in a court of initialjurisdiction and in one or more appellate courts, as the Company will determine. If the Companydirects Executive to pay the claim and sue for a refund, the Company will advance the amount of thepayment to Executive, on an interest-free basis, and will indemnify and hold Executive harmless, onan after-tax basis, from any Excise Tax or income tax (including interest or penalties with respectthereto) imposed with respect to the advance or with respect to any imputed income with respect tothe advance; and any extension of the statute of limitations relating to payment of taxes for thetaxable year of Executive with respect to which the contested amount is claimed to be due will belimited solely to the contested amount. The Company’s control of the contest will be limited toissues with respect to which a Gross-Up Payment would be payable hereunder and Executive will beentitled to settle or contest, as the case may be, any other issue raised by the Internal RevenueService or any other taxing authority.          If, after the receipt by Executive of an amount advanced by the Company pursuant to Section6(d), Executive becomes entitled to receive any refund with respect to the claim, Executive will,subject to the Company’s compliance with the requirements of Section 6(d), promptly pay to theCompany the amount of the refund (together with any interest paid or credited thereon after taxesapplicable thereto). If, after the receipt by Executive of an amount advanced by the Companypursuant to this Section 6(d), a determination is made that Executive will not be entitled to anyrefund with respect to the claim and the Company does not notify Executive in writing of its intentto contest the denial of refund prior to the expiration of 30 days after the determination, thenthe advance will be forgiven and will not be required to be repaid and the amount of the advancewill offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.     7. Definition of Terms. The following terms referred to in this Agreement will havethe following meanings:          (a) Benefit Plans. “Benefit Plans” means plans, policies or arrangements that theCompany sponsors (or participates in) and that immediately prior to Executive’s termination ofemployment provide Executive and/or Executive’s eligible dependents with medical, dental, visionand/or financial counseling benefits. Benefit Plans do not include any other type of benefit(including, but not by way of limitation, disability, life insurance or retirement benefits). Arequirement that the Company provide Executive and Executive’s eligible dependents with coverageunder the Benefit Plans will not be satisfied unless the coverage is no less favorable than thatprovided to Executive and Executive’s eligible dependents immediately prior to Executive’stermination of employment. Notwithstanding any contrary provision of this Section 7, but subjectto the immediately preceding sentence, the Company may, at its option, satisfy any requirement thatthe Company provide coverage under any Benefit Plan by instead providing coverage under a separateplan or plans providing coverage that is no less favorable or by paying Executive a lump sumpayment sufficient to provide Executive and Executive’s eligible dependents with equivalentcoverage under a third party plan that is reasonably available to Executive and Executive’seligible dependents.          (b) Cause. “Cause” means (i) a willful failure by Executive to substantially performExecutive’s duties as an employee, other than a failure resulting from the Executive’s
 

 
complete or partial incapacity due to physical or mental illness or impairment, (ii) a willfulact by Executive that constitutes gross misconduct and that is injurious to the Company, (iii)circumstances where Executive willfully imparts material confidential information relating to theCompany or its business to competitors or to other third parties other than in the course ofcarrying out Executive’s duties, (iv) a material and willful violation by Executive of a federal orstate law or regulation applicable to the business of the Company or (v) Executive’s conviction orplea of guilty or no contest to a felony. No act or failure to act by Executive will be considered“willful” unless committed without good faith and without a reasonable belief that the act oromission was in the Company’s best interest.          (c) Change of Control. “Change of Control” means the occurrence of any of thefollowing:               (i) the sale, lease, conveyance or other disposition of all or substantially all of theCompany’s assets to any “person” (as such term is used in Section 13(d) of the Securities ExchangeAct of 1934, as amended), entity or group of persons acting in concert;               (ii) any person or group of persons becoming the “beneficial owner” (as defined inRule 13d-3under said Act), directly or indirectly, of securities of the Company representing 30% or more ofthe total voting power represented by the Company’s then outstanding voting securities;               (iii) a merger or consolidation of the Company with any other corporation, other than a mergeror consolidation that would result in the voting securities of the Company outstanding immediatelyprior thereto continuing to represent (either by remaining outstanding or by being converted intovoting securities of the surviving entity or its controlling entity) at least 50% of the totalvoting power represented by the voting securities of the Company or such surviving entity (or itscontrolling entity) outstanding immediately after such merger or consolidation; or               (iv) a contest for the election or removal of members of the Board that results in the removalfrom the Board of at least 33% of the incumbent members of the Board.          (d) Competition. “Competition” will mean Executive’s direct or indirect engagement in(whether as an employee, consultant, agent, proprietor, principal, partner, stockholder, corporateofficer, director or otherwise), or ownership interest in or participation in the financing,operation, management or control of, any person, firm, corporation or business that competes withCompany or is a customer of the Company.          (e) Disability. “Disability” will mean that Executive has been unable to perform theprincipal functions of Executive’s duties due to a physical or mental impairment, but only if suchinability has lasted or is reasonably expected to last for at least six months. Whether Executivehas a Disability will be determined by the Board based on evidence provided by one or morephysicians selected by the Board.          (f) Good Reason. “Good Reason” means (without Executive’s consent) (i) a materialreduction in Executive’s title, authority, status, or responsibilities, (ii) a material breach by
 

 
the Company of its obligations as an employee, or (iii) a relocation of Executive’s principalplace of employment by more than twenty five (25) miles. With respect to a termination ofemployment that occurs during the six (6) month period immediately following a Change of Control,clause (i) of the preceding sentence will be applied by replacing the word “reduction” with theword “change.”     8. Term of Agreement. This Agreement will have an initial term of two (2) yearscommencing on the Effective Date. On the second anniversary of the Effective Date and on eachannual anniversary of the Effective Date thereafter, this Agreement automatically will renew for anadditional term of one year unless at least three (3) months prior to such anniversary, Executiveor the Company gives the other party written notice that the Agreement will not be renewed.Notwithstanding the foregoing provisions of this paragraph, in the event of a Change of Control,the term of this Agreement will extend through the one-year anniversary of such Change of Control.Additionally, on the anniversary of such Change of Control and each annual anniversary of theChange of Control thereafter, this Agreement automatically will renew for an additional term of oneyear unless at least three (3) months prior to such anniversary, Executive or the Company gives theother party written notice that the Agreement will not be renewed.     If Executive incurs a termination of employment that entitles Executive to receive thepayments and benefits described in Section 5, this Agreement will not terminate until all ofExecutive’s and the Company’s obligations under the Agreement have been satisfied. For avoidanceof doubt, the expiration of this Agreement upon the provision of notice as provided in this Section8 by either party will not by itself entitle Executive to any payments or benefits described inSection 5(a) or (b).     9. Successors.          (a) The Company’s Successors. Any successor to the Company (whether direct orindirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all orsubstantially all of the Company’s business and/or assets will assume the obligations under thisAgreement and agree expressly to perform the obligations under this Agreement in the same mannerand to the same extent as the Company would be required to perform such obligations in the absenceof a succession. For all purposes under this Agreement, the term “Company” will include anysuccessor to the Company’s business and/or assets which executes and delivers the assumptionagreement described in this Section 9(a) or which becomes bound by the terms of this Agreement byoperation of law.          (b) Executive’s Successors. The terms of this Agreement and all rights of Executivehereunder will inure to the benefit of, and be enforceable by, Executive’s personal or legalrepresentatives, executors, administrators, successors, heirs, distributees, devisees and legatees.     10. Notices. All notices, requests, demands and other communications called forhereunder will be in writing and will be deemed given (i) on the date of delivery if deliveredpersonally, (ii) one (1) day after being sent by a well established commercial overnight service,or (iii) four (4) days after being mailed by registered or certified mail, return receiptrequested, prepaid and addressed to the parties or their successors at the following addresses, orat such other addresses as the parties may later designate in writing:
 

 
If to the Company:Solectron Corporation