Exhibit 10.1
EMPLOYMENT AGREEMENT
Employment Agreement, dated as of December 1, 2005, (the "Agreement"), by and
between Jon J. King (the "Employee") and Benchmark Electronics, Inc., a Texas
corporation (the "Company").
WITNESSETH:
In consideration of the mutual covenants and conditions contained herein, the
parties hereto agree as follows:
SECTION 1.
EMPLOYMENT.
THE COMPANY HEREBY AGREES TO EMPLOY THE EMPLOYEE, AND
THE EMPLOYEE HEREBY ACCEPTS EMPLOYMENT BY THE COMPANY, UPON THE TERMS AND
SUBJECT TO THE CONDITIONS HEREINAFTER SET FORTH.
DURING THE TERM OF HIS
EMPLOYMENT, THE EMPLOYEE SHALL HAVE THE TITLE OF GROUP PRESIDENT.
SECTION 2.
DUTIES.
IN HIS CAPACITY AS GROUP PRESIDENT OF THE COMPANY, THE
EMPLOYEE SHALL PERFORM SUCH REASONABLE EXECUTIVE DUTIES AS A GROUP PRESIDENT
WOULD NORMALLY PERFORM OR AS OTHERWISE SPECIFIED IN THE BY-LAWS OF THE COMPANY,
AND SUCH OTHER REASONABLE EXECUTIVE DUTIES AS THE BOARD OF DIRECTORS OF THE
COMPANY MAY FROM TIME TO TIME REASONABLY PRESCRIBE WITH THE CONCURRENCE OF THE
EMPLOYEE.
EXCEPT AS OTHERWISE PROVIDED HEREIN, EXCEPT AS MAY OTHERWISE BE
APPROVED BY THE BOARD OF DIRECTORS OF THE COMPANY, AND EXCEPT DURING VACATION
PERIODS AND REASONABLE PERIODS DUE TO SICKNESS, PERSONAL INJURY OR OTHER
DISABILITY, THE EMPLOYEE AGREES TO DEVOTE SUBSTANTIALLY ALL OF HIS AVAILABLE
TIME TO THE PERFORMANCE OF HIS DUTIES TO THE COMPANY HEREUNDER, PROVIDED THAT
NOTHING CONTAINED HEREIN SHALL PRECLUDE THE EMPLOYEE FROM (I) SERVING ON THE
BOARD OF DIRECTORS OF ANY BUSINESS OR CORPORATION ON WHICH HE IS SERVING ON THE
DATE HEREOF OR, WITH THE CONSENT OF THE BOARD OF DIRECTORS, SERVING ON THE BOARD
OF DIRECTORS OF ANY OTHER BUSINESS OR CORPORATION, (II) SERVING ON THE BOARD OF,
OR WORKING FOR, ANY CHARITABLE OR COMMUNITY ORGANIZATION, AND (III) PURSUING HIS
PERSONAL FINANCIAL AND LEGAL AFFAIRS SO LONG AS SUCH ACTIVITIES DO NOT
MATERIALLY INTERFERE WITH THE PERFORMANCE OF THE EMPLOYEE'S DUTIES HEREUNDER.
SECTION 3.
TERM.
EXCEPT AS OTHERWISE PROVIDED HEREIN, THE TERM OF THIS
AGREEMENT SHALL BE FOR THREE (3) YEARS (THE "INITIAL TERM"), COMMENCING ON THE
DATE OF THIS AGREEMENT.
THIS AGREEMENT SHALL BE AUTOMATICALLY RENEWED
THEREAFTER FOR SUCCESSIVE ONE (1) YEAR TERMS (EACH SUCH RENEWAL TERM, A "RENEWAL
TERM"), UNLESS EITHER PARTY GIVES TO THE OTHER WRITTEN NOTICE OF TERMINATION NO
FEWER THAN NINETY (90) DAYS PRIOR TO THE EXPIRATION OF ANY SUCH RENEWAL TERM,
WHICH NOTICE SHALL EXPRESSLY REFER TO THIS SECTION 3 OF THE AGREEMENT AND STATE
THAT SUCH PARTY DOES NOT WISH TO EXTEND THIS AGREEMENT (ANY SUCH NOTICE, A
"NON-RENEWAL NOTICE").
ANY SUCH NON-RENEWAL NOTICE GIVEN BY THE COMPANY SHALL
CONSTITUTE A TERMINATION OF THE EMPLOYEE'S EMPLOYMENT WITHOUT CAUSE FOR PURPOSES
OF THIS AGREEMENT.
THE INITIAL TERM, AS THE SAME MAY BE EXTENDED BY ANY RENEWAL
TERM, IS REFERRED TO HEREIN AS THE "EMPLOYMENT TERM." THE PROVISIONS OF THIS
AGREEMENT SHALL SURVIVE ANY TERMINATION HEREOF.
SECTION 4.
COMPENSATION AND BENEFITS.
IN CONSIDERATION FOR THE SERVICES OF THE
EMPLOYEE HEREUNDER, THE COMPANY SHALL COMPENSATE THE EMPLOYEE AND PERFORM ITS
OTHER OBLIGATIONS AS PROVIDED IN THIS SECTION 4.
(A) BASE SALARY.
COMMENCING