Document:

EXHIBIT 10.65

 

SANMINA-SCI
CORPORATION NON-EMPLOYEE DIRECTOR COMPENSATION ARRANGEMENTS

 

Sanmina-SCI
Corporation’s fiscal 2008 compensation arrangements for its non-employee
Directors are as follows:

 

	
  Compensation Element

  	
   

  	
  Amount

  
	
  General Board service – cash

  	
   

  	
  Annual cash retainer -
  $60,000(1)

  
	
   

  	
   

  	
  Board meeting fees: $2,000
  in-person, $1,000 telephonic

  
	
   

  	
   

  	
   

  
	
  General Board
  service-Equity

  	
   

  	
  Initial equity grant upon
  first becoming a Director and annually thereafter:

  ·                  Option to purchase 10,000 shares of Common
  Stock

  ·                  Restricted stock units to purchase 20,000
  shares of Common Stock

  ·                  Both grants vest monthly over 12 months

  
	
   

  	
   

  	
   

  
	
  Lead Director

  	
   

  	
  Additional cash retainer:
  $24,000(1)

  
	
   

  	
   

  	
   

  
	
  Committee Chair service

  	
   

  	
  Additional cash retainer:
  (1)

  ·                  Audit Committee: $20,000

  ·                  Compensation Committee: $20,000

  ·                  Nominating and Governance Committee:
  $20,000

  
	
   

  	
   

  	
   

  
	
  Committee member service

  	
   

  	
  Additional cash retainer:
  (1)

  ·                  Audit Committee: $10,000

  ·                  Compensation Committee: $10,000

  ·                  Nominating and Governance Committee:
  $10,000

  ·                  Special Litigation Committee: $5,000 per
  month

  
	
   

  	
   

  	
  Committee meeting fees:
  $1,500(2)

  

 

(1) Directors
may elect to receive cash retainers in restricted stock with value equal to
133% of the forgone cash compensation and which vests in full 12 months after
the date of grant.

 

(2) Per meeting fee not
paid in the case of the Special Litigation Committee.EXHIBIT
10.66

 

[SANMINA-SCI
CORPORATION LETTERHEAD]

 

July 20,
2004

 

Dear David:

 

This letter will confirm the terms of your offer of
employment with Sanmina-SCI Corporation (“Sanmina-SCI” or the “Company”). Such
terms are as follows:

 

1. Position and Responsibilities. You will serve in the position of
executive Vice President and Chief Financial Officer of the Company, reporting
to the Chief Executive and Chief Operating Officers of the Company. You will
also periodically report to the Board of Directors of the Company and the audit
committee thereof. You will assume and discharge such responsibilities as are
commensurate with such position. During the term of your employment, you shall
devote your full time, skill and attention to your duties and responsibilities
and shall perform them faithfully, diligently and competently. In addition, you
shall comply with and be bound by the operating policies, procedures and
practices of Sanmina-SCI in effect from time to time during your employment.

 

2. Compensation.

 

a.                                            On
or before October 4, 2004, you will receive a $50,000 sign on bonus. All
appropriate payroll taxes will be withheld.

 

b.                                           In
consideration of your services, effective as of your employment start date, you
will be paid a base salary of not less than $325,000 per annum, payable in
accordance with Sanmina-SCI standard payroll practices. Your base salary will
be reviewed annually by the compensation committee of the Board of Directors of
Sanmina-SCI.

 

c.                                            In
addition to your base salary, you will be entitled to participate in
Sanmina-SCI incentive compensation bonus plans for senior executive officers.
The specific amount will be based on the operating plan approved by the Board
of Directors in September 2004 and pursuant to the Executive Short Term
Incentive Plan at your level. This bonus will be dependent upon Sanmina-SCI’s
achievement of financial performance criteria established for such bonus plan
by the compensation committee of the Board of Directors as well your
fulfillment of individual performance objectives which will be established by
the Chief Executive and Chief Operating Officers in consultation with the
compensation committee. You may also be granted stock bonuses at the discretion
of the Board of Directors and the compensation committee. Determinations by the
compensation committee relating to bonus plan criteria, achievement of
performance objectives and all other matters relating to the bonus plan will be
final and binding upon you and the Company. Your bonus for fiscal 2004 will be
prorated based on the number of months of fiscal 2004 for which you are
actually employed by the Company. Fifty percent of your bonus for fiscal 2005
is guaranteed.

 

3.         Other Benefits.
You will be entitled to receive the standard employee benefits made available
by Sanmina-SCI to its senior executive officers to the full extent of your
eligibility therefore. During your employment, you shall be permitted, to the
extent eligible, to participate in any group medical, dental, life insurance
and disability insurance plans, or similar benefit plans of Sanmina-SCI that
are available to executive officers generally. Participation in any such plan
shall be consistent with your rate of compensation to the extent that
compensation is a determinative factor with respect to coverage under any such
plan.

 

Sanmina-SCI shall
reimburse you for all reasonable expenses actually incurred or paid by you in
the performance of your services on behalf of the company, upon authorization
and approval in accordance with Sanmina-SCI’s expense reimbursement policy in
effect at this time.

 

4.
Stock Options. You will also be
granted a stock option grant of 250,000 (two hundred fifty thousand) shares at
the closing price of the stock which will be set within the first few weeks of
your start date. One fifth of the shares subject to your stock option will be
exercisable after one year of service, and thereafter the remaining shares will
become exercisable 

 

 

in
equal installments of 1/48, or 4,167 shares per month. The option will have a
term of 10 years. Other terms of your stock option will be set forth in a
definitive stock option agreement between you and the Company. In addition to
the foregoing, you will be eligible for an additional stock option grant at the
next scheduled review of executive compensation. That review is currently
scheduled for October 2004, subject to your performance and the approval
of the Compensation Committee of the Board of Directors. In addition you will
receive a 100,000 (one hundred thousand) share restricted stock award, which
shall entitle you to purchase such shares as $.01 per share. Your restricted
stock will fully vest on the day of its fourth anniversary. Subject to
discussion with, and approval by, the Compensation Committee of the Board of
Directors, a proposal will be made and consideration will be given for an
acceleration of vesting of these restricted shares based on performance
criteria previously established or otherwise approved.

 

5. Confidential Information.
Your employment pursuant to this offer is contingent on your executing and
agreeing to be bound by the terms and conditions of the Company’s standard
Employee Propriety Information and Inventions Agreement, a copy of which is
attached. Employment with Sanmina-SCI is also contingent upon you providing the
Company with the legally required proof of authorization to work in the United
States.

 

6. Conflicting Employment.
You agree that, during the term of your employment with Sanmina-SCI, you will
not engage in any other employment, occupation, consulting or other business
activity directly related to the business in which Sanmina-SCI is now involved
or becomes involved during the term of your employment, nor will you engage in
any other activities that conflict with your obligations to Sanmina-SCI.

 

7. General Provisions.

 

a.                                            This
offer letter will be governed by the laws of the State of California,
applicable to agreements made and to be performed entirely within such state.
This offer letter sets forth the entire agreement and understanding between
Sanmina-SCI and you relating your employment and supersedes all prior verbal
discussion between us. Any subsequent change of changes in your duties, salary
or other compensation will not affect the validity or scope of this agreement.

 

b.                                           Any
references to Sanmina-SCI or to the Company shall be interpreted to include a
reference to any successor or resultant company in the event of a merger or
acquisition or sale of substantially all of Sanmina-SCI’s assets. Any such
successor or resultant company shall be and remain liable for all of
Sanmina-SCI’s responsibilities and obligations hereunder.

 

c.                                            In
the event of the sale or acquisition of Sanmina-SCI (a “change of control”) the
stock options and restricted stock granted herein, or granted at any time in
the future during your employment, will immediately vest. A change of control
shall be defined and mutually agreed upon subsequent to your start date.

 

Please
acknowledge and confirm your acceptance of this letter by signing and returning
the enclosed copy of this letter as soon as possible. If you have any questions
about this offer letter, please call me directly.

 

 

SANMINA-SCI CORPORATION

 

 

	
   

  	
  By:
  /s/ CARMINE RENZULLI

  
	
   

  	
   

  
	
   

  	
  Senior
  Vice President, Legal and Human Resources

  

 

 

ACCEPTANCE:

 

I accept the terms of my employment with Sanmina-SCI
Corporation as set forth herein. I understand that this offer letter does not
constitute a contract of employment for any specified period of time, and that
my employment relationship may be terminated by either party, with or without
cause and with or without notice.

 

 

	
  Date:
  July 20, 2004

  	
   

  	
  /s/
  DAVID WHITE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  David
  White

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