Document:

exv10w30

Exhibit 10.30

Description of Non-Executive Chairman’s Compensation

Effective January 10, 2008, our non-executive Chairman is entitled to receive, following each
annual general meeting of the company, a yearly stock bonus award consisting of such number of
shares having an aggregate fair market value of US$200,000 on the date of grant. The non-executive
Chairman is also entitled to continue to receive cash compensation for service as chairman of the
Audit Committee if appointed to such position, but otherwise will no longer be eligible to receive
cash compensation for service on any Board committees. The non-executive Chairman will continue to
be entitled to receive all other compensation payable to our non-employee directors.exv10w31

Exhibit 10.31

AGREEMENT

          This Agreement (“Agreement”) is entered into as of the 10th day of March, 2008 (the “Effective
Date”) by and between Michael E. Marks, an individual, (“Marks”) and Flextronics International Ltd.
(“Flextronics” or the “Company”).

          Whereas, Marks served as Chief Executive Officer and Chairman of the Board of
Flextronics and was actively involved in the Company’s business until his retirement as Chairman of
the Board on January 10, 2008; and

          Whereas, the Company desires to preserve and protect the intangible assets of the
Company, including its relationship with its employees, customers and vendors and the goodwill and
trade secrets of which Marks has knowledge.

          NOW, THEREFORE, in consideration of the mutual covenants and representations contained herein,
the parties hereby agree to enter into this Agreement.

     1. Non-Compete and Non-Solicitation.

          a. Non-Compete. Marks understands and agrees that the relationship between Flextronics and its
affiliates (the “Flextronics Group”) and each of its and their customers and vendors constitutes a
valuable asset of the Flextronics Group, that information related to vendors and customers is kept
confidential and may not be disclosed or converted for the use of Marks or any third party for any
reason whatsoever. Accordingly, Marks shall not, directly or indirectly, until January 10, 2009,
on behalf of himself or any third party, solicit any customer or vendor to conduct any business
with such customer that is the same as or similar to, or is otherwise competitive with, the
business of the Flextronics Group or to terminate such vendor’s or customer’s business relationship
with the Flextronics Group.

          b. Non-Solicitation. Marks understands and agrees that the relationship between the
Flextronics Group and each of its employees constitutes a valuable asset of the Flextronics Group,
that information related to employee’s skills and compensation is kept confidential, and may not be
disclosed or converted for the use of Marks or any third party for any reason whatsoever.
Accordingly, Marks shall not, directly or indirectly, until January 10, 2009, on behalf of Marks or
any third party, solicit any employee to terminate his or her employment relationship with the
Flextronics Group.

          c. Marks may request a waiver of this Section 1 by submitting a request in writing or by email
to (i) the Chairman of the Compensation Committee, on behalf of the Compensation Committee, to
request a waiver with respect to any “executive officer” within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended or any key employee who holds the title of Senior Vice
President or above (collectively, the “Key Employees”); and (ii) the Chief Executive Officer of
Flextronics to request a waiver with respect to any non-Key Employee. The Compensation Committee
and the Chief Executive Officer, as applicable, will

 

 

Flextronics CONFIDENTIAL

respond within ten (10) business days after receiving such request by either approving or
denying the waiver. Marks acknowledges and agrees that failure to comply with this Section 1 is a
material breach of this Agreement.

     2. Waiver.

          a. Marks has been granted option number 017271 to purchase four million (4,000,000) shares
pursuant to option grant forms issued to Marks under the Flextronics International Ltd. 2001 Equity
Incentive Plan, of which three million (3,000,000) shares are exercisable and option number
XX017271 to purchase one million (1,000,000) shares pursuant to option grant forms issued to Marks
under the Flextronics International Ltd. 2002 Interim Incentive Plan all of which are exercisable
(collectively, the “Options”). The Flextronics International Ltd. 2001 Equity Incentive Plan and
the Flextronics International Ltd. 2002 Equity Incentive Plan are referred to collectively as the
“Share Option and Incentive Plans.” The Share Option and Incentive Plans are incorporated herein
by reference.

          b. In consideration for Marks’s agreement as set forth herein, the Company hereby agrees to
waive the requirement that stock options must be exercised within ninety (90) days of the date of
Termination or cessation of Service (as defined in the Share Option and Incentive Plans) with
regard to an aggregate of 4,000,000 shares covered by the Options, so that the Options will expire
on January 10, 2009. Notwithstanding the foregoing, in no event shall this modification extend the
exercisability of the Options later than such date as would cause such options to be subject to
Section 409A of the Internal Revenue Code of 1986, as amended.

     3. Releases.

          a. In consideration for the covenants and release set forth in this Agreement, Marks on his
own behalf and on the behalf his heirs, executors, administrators, successors, attorneys, insurers,
and assigns shall release and discharge the Flextronics Group and any predecessor divisions or
entities, their respective past and present officers, directors, shareholders, partners, attorneys,
agents, employees, and their respective insurance companies, successors and assigns (hereinafter
“Flextronics Releasees”), from any and all claims, of any and every kind, nature and character,
known and unknown, suspected and unsuspected, including any and all claims for attorneys’ fees and
costs which Marks either may now have, or has ever had, against the Flextronics Releasees, which
arise in whole or in part from Marks’s employment relationship with Flextronics, the termination of
that relationship, any other employment-related dealings of any kind between Marks and the
Flextronics Group and/or any past or present officer, director, agent or employees of the
Flextronics Group and/or with respect to any other obligation (contractual or otherwise), event,
matter, claim, damages or injury arising prior to the execution of this Agreement by all parties,
other than claims for indemnification which may exist or arise for matters arising on or prior to
the Effective Date.

          This release covers, but is not limited to: any and all claims, rights, demands, and causes
of action for wrongful termination, intentional or negligent infliction of emotional distress,
defamation, breach of any employment contract or employment agreement, breach of the covenant of
good faith and fair dealing, claim for reinstatement or rehire, failure to pay wages,

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Flextronics CONFIDENTIAL

commissions, benefits, PTO, severance or other compensation of any sort, discrimination, right
to paid or unpaid leave, and/or violation of any and all statutes, rules, regulations or ordinances
whether state, federal or local, including without limitation: Title VII of the Civil Rights Act
of 1964, as amended, the Americans with Disabilities Act, as amended, the Fair Employment and
Housing Act, as amended, and the Age Discrimination in Employment Act, as amended by the Older
Workers’ Benefits Protection Act. Nothing in this release shall affect Marks’s right, if any, to
obtain unemployment benefits or any obligation set forth in this Agreement. This release does not
extend to any of the obligations of Flextronics arising out of this
Agreement.

          b. Marks hereby acknowledges that he is waiving and releasing any rights he might have under
the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended, and that this waiver and
release is knowing and voluntary. The parties agree that this waiver and release does not apply to
any rights or claims that may arise under ADEA after the parties have executed this Agreement and
the revocation period has expired. Marks acknowledges that a portion of the consideration given
for this waiver is in addition to anything of value to which he was already entitled for salary and
PTO up to the Employment Termination Date. Marks further acknowledges by this writing that he has
been advised that (a) he should consult with an attorney prior to executing this Agreement; (b) he
has twenty-one (21) calendar days from the date of his receipt within which to consider this
Agreement; (c) he has seven (7) calendar days following the execution of this Agreement by the
parties to revoke the Agreement; and (d) this Agreement shall not be effective until the revocation
period has expired. Marks acknowledges that he received this Agreement on November 30, 2005.
Marks understands that, in the event, he does not execute this Agreement or revokes this Agreement
in accordance with this paragraph, he will not be entitled to any benefits or payments provided for
in this Agreement.

          c. Marks represents that he has not filed a legal action with any local, state or federal
agency or court relating in any manner to any claim released herein, and that if any such
governmental agency or court assumes jurisdiction of any complaint or charge against Flextronics
Releasees on behalf of Marks, relative to any claim released herein, he will request such agency or
court to withdraw from the matter.

          d. Marks acknowledges that he understands the statutory language of Section 1542 of the Civil
Code of the State of California and, having been so apprised, agrees nevertheless to waive any and
all rights or benefits which he may now have, or in the future may have, under the terms of Section
1542 of the California Civil Code or any similar provision of any state or federal law. California
Civil Code section 1542 provides as follows:

     A general release does not extend to claims which the creditor does not know or suspect to
exist in his favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor.

     4. Confidentiality.

          a. Marks acknowledges and agrees that he will remain bound by the terms and obligations set
forth in the Disclosure and Secrecy Agreement between Flextronics and Marks

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Flextronics CONFIDENTIAL

dated February 11, 1994 and attached hereto as Exhibit B (the “Confidentiality Agreement”).
Marks further acknowledges that the confidentiality, non-solicitation and non-compete clauses in
this Agreement and the Confidentiality Agreement with Flextronics are intended to be read together.
Should the terms of the Confidentiality Agreement differ from the terms of this Agreement, the
provisions of this Agreement shall prevail.

          Marks agrees that any original works of authorship, products, software, and/or applications
that Marks created or developed for Flextronics while in the employ of Flextronics is the sole
property of Flextronics. Marks further acknowledges and agrees that Marks shall not, without the
prior written consent of the Board, disclose or use for any purpose (except in furtherance of the
business of the Flextronics Group) any Confidential Information (as herein defined and as defined
in the Confidentiality Agreement) of the Flextronics Group.

          b. Confidential Information shall mean any and all proprietary or confidential information of
the Flextronics Group or any of its vendors or customers, whether or not developed by Marks,
including without limitation the following:

          (i) Any and all technical information, including, without limitation, product data and
specifications, know-how, formulae, source code, or other software information, test results,
processes, inventions, research projects or product development.

          (ii) Any and all business information, including, without limitation, cost information,
profits, profit margins, sales information, costs, overhead, accounting and unpublished financial
information, business plans, markets, marketing methods, vendor or customer lists, including
without limitation, a vendor’s or customer’s specific needs, advertising and operating strategies.

          (iii) Any and all employee information, including, without limitation, salaries, and specific
strengths, weaknesses and skills of employees of the Flextronics Group.

     5. Miscellaneous

          a. Representation by Counsel. The parties represent that they have had an opportunity to be
represented by counsel of their own choosing in the execution of this Agreement and that this
Agreement has been carefully and fully read and is voluntarily executed.

          b. Severability; Section 409A. It is the desire and intent of the parties that the provisions
of this Agreement shall be enforced to the fullest extent permissible under applicable law. If any
particular provision or portion of this Agreement shall be adjudicated to be invalid or
unenforceable, this Agreement shall be deemed amended to revise those provisions or portions to the
minimum extent necessary to render them enforceable. Notwithstanding any provision in this
Agreement to the contrary, in the event that any payment otherwise provided by or provision of this
Agreement would result in the Marks recognizing deferred compensation subject to additional taxes
under Section 409A of the Internal Revenue Code of 1986, as amended, any obligation to make and any
right to receive such payment and any such provision shall be void and have no force or effect and
the parties shall to the extent possible agree upon a substitute payment or provision that
accomplishes the intended purpose of the void payment or provision.

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Flextronics CONFIDENTIAL

For purposes hereof, any determination as to whether any payment otherwise required by or
provision of this Agreement would result in the Marks recognizing deferred compensation subject to
additional taxes under Section 409A shall be made by Flextronics, in its sole discretion.

          c. Governing Law; Waiver of Jury Trial. This Agreement shall in all respects be interpreted,
enforced, and governed under the laws of the State of California.

IN THE EVENT OF ANY DISPUTE BETWEEN THE PARTIES, WHETHER IT RESULTS IN PROCEEDINGS IN ANY COURT IN
ANY JURISDICTION OR IN ARBITRATION, THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY, AND HAVING HAD AN
OPPORTUNITY TO CONSULT WITH COUNSEL, WAIVE ALL RIGHTS TO TRIAL BY JURY, AND AGREE THAT ANY AND ALL
MATTERS SHALL BE DECIDED BY A JUDGE OR ARBITRATOR WITHOUT A JURY TO THE FULLEST EXTENT PERMISSIBLE
UNDER APPLICABLE LAW.

          d. Entire Agreement. This Agreement sets forth the entire agreement between the parties
hereto, and fully supersedes any and all prior agreements or understandings between the parties
pertaining to any subject matter contained in this Agreement, except that the Share Option and
Incentive Plans as defined in Section 2 of this Agreement shall remain in full force and effect,
except as modified by this Agreement. Any amendments or modifications to this Agreement must be
made in writing and signed by both parties.

          e. Notices. All notices required or permitted under this Agreement will be in writing and
will be deemed received (a) when delivered personally; (b) when sent by confirmed facsimile; (c)
five (5) days after having been sent by registered or certified mail, return receipt requested,
postage prepaid; or (d) one (1) day after deposit with a commercial overnight carrier. All
communications will be sent to the addresses as may be designated by a party by giving written
notice to the other party pursuant to this subsection.

          f. Counterparts. This Agreement may be signed in counterparts. A copy of a signature shall
have the full force and effect as an original signature.

IN WITNESS WHEREOF, this Agreement is executed as of the Effective Date.

	 	 	 
	 
	 	 
	 
	 	 
	  /s/ Michael E. Marks 

	 	 
	MICHAEL E. MARKS
	 	 

FLEXTRONICS INTERNATIONAL LTD

	 	 	 	 	 
	 
	 	 	 	 
	By:

	 	  /s/ Michael M. McNamera 

	 	 
	Title:

	 	        Chief Executive Officer 
	 	 

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