Document:

exv10w04

 

Exhibit 10.04

July 8, 2005

Mr. Nicholas Brathwaite

Chief Technology Officer

Flextronics International USA, Inc.

2090 Fortune Drive

San Jose, California 95131

Award Agreement for Deferred Compensation Plan

Dear Nic:

     I am pleased to confirm that Flextronics International USA, Inc. (the “Company”) has agreed to
provide you with a deferred long term incentive bonus in return for services to be performed in the
future as an employee of the Company (the “Deferred Bonus”). The amount of your Deferred Bonus
will be $3,000,000. Your Deferred Bonus will not be paid currently to you. Instead, the Deferred
Bonus will be credited to the account (the “Deferral Account”) established on your behalf under the
Flextronics International USA, Inc. 2005 Senior Executive Deferred Compensation Plan (the “Deferred
Compensation Plan”).

     Your Deferral Account will be payable to you on the date(s) following your separation from
service with the Company that are specified in your Deferral Agreement entered into pursuant to the
Deferred Compensation Plan. This agreement will constitute the Award Agreement referred to in
Section 3 of your Deferral Agreement.

     Twenty percent (20%) of the Deferral Account will vest on April 1, 2006 and an additional
twenty percent (20%) will vest each subsequent April 1st until the entire Bonus Account
is fully vested. Thus, the Deferral Account will be twenty percent (20%) vested on April 1, 2006;
forty percent (40%) vested on April 1, 2007; sixty percent (60%) vested on April 1, 2008; eighty
percent (80%) vested on April 1, 2009; and the entire Deferral Account will be vested on April 1,
2010 (the “Vesting Dates”). Your Deferral Account shall be 100% vested upon a “Change of Control”
as defined in the Deferred Compensation Plan, if you are employed by the Company at that time.

     The Deferral Account will be deemed invested in one or more hypothetical investments as
determined by an investment manager selected by you under the Deferred Compensation Plan. If you
are still an employee of the Company on a Vesting Date, a percentage of the unvested balance of
your Deferral Account will be transferred to a vested subaccount of your Deferral Account
maintained for you under the Plan. The percentage to be transferred will be the percentage of the
Deferral Account that vests at such time divided by that percentage of the Deferral Account that
has not already vested. For example, on April 1, 2006, 20% of your Deferral Account will be
transferred to your vested subaccount; on April 1, 2007, if you are still employed with the
Company, 25% (i.e., 20/80) of the unvested balance of your Deferral Account will be
transferred to your vested subaccount; and on April 1, 2008, 33% (i.e., 20/60) of the

 

 

Nicholas Brathwaite

July 8, 2005

Page 2

unvested balance of your Deferral Account will be transferred to your vested subaccount. The
“unvested balance” of your Deferral Account at any time will be the entire balance of your Deferral
Account less the balance, if any, of your vested subaccount.

     To the extent allowed under the Deferred Compensation Plan, you may also elect to defer
portions of your base salary or cash bonuses to be earned after the date of the election, and these
amounts will be vested when they are credited to your account under the Deferred Compensation Plan.
If you elect to defer any such amounts, they will be accounted for in your separate vested
subaccount under the Deferred Compensation Plan.

     If your employment with the Company is terminated for any reason (other than death or
disability) before the entire Deferred Bonus has vested, the unvested balance of your Deferral
Account (as determined at the end of the day of your termination) will be terminated and forfeited
for no consideration.

     Should your employment with the Company be terminated as a result of death or disability, you
(or your estate) will be 100% vested in your Deferral Account, and the entire unvested balance of
your Deferral Account will be transferred to your vested subaccount. For purposes of this
agreement, you will be considered disabled if you are unable to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or can be expected to last for a continuous period of not less than 12
months or, if later, until May 1, 2010, or if, by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months or, if later, until May 1, 2010, you are receiving
income replacement benefits for a period of not less than 3 months under an accident and health
plan covering other employees of your employer.

     When your employment with the Company is terminated, you will be entitled to receive
distributions of any vested balance of your Deferral Account in accordance with a payout election
that you will make under the Deferred Compensation Plan.

     You understand and acknowledge that your account balance under the Deferred Compensation Plan
will reachable by the Company’s general creditors upon the insolvency of the Company. You also
understand and acknowledge that you will not be entitled to accelerate distributions from the
Deferred Compensation Plan except in the event of your Disability or Unforeseeable Emergency as
defined under the Deferred Compensation Plan.

     The Deferred Bonus will be in addition to any rights that you have under any other agreement
with the Company. Any Deferred Bonus will not be deemed to be salary or other compensation for the
purpose of computing benefits under any employee benefit plan or other arrangement of the Company
for the benefit of its employees.

     The Deferred Bonus does not give you any right to be retained by the Company, and does not
affect the right of the Company to dismiss any employee. The Company may withhold from any payment
of the Deferred Bonus as may be required pursuant to applicable law.

 

 

Nicholas Brathwaite

July 8, 2005

Page 3

     Enclosed are:

	 	(1)	 	Flextronics International USA, Inc. 2005 Deferred Compensation Plan;
	 
	 	(2)	 	Deferral Agreement Form for 2005 and Beneficiary Form; and
	 
	 	(3)	 	Summary of the 2005 Deferred Compensation Plan.

By signing below, you represent that you have read and understand these documents and have had
adequate opportunity to ask any questions about the documents. You understand that although the
Company has attempted to structure a plan to accomplish the tax results discussed in the documents,
the Company cannot warrant that the tax effect on you will be as expected. You also understand
that the Company and its representatives are not attempting to give you tax advice. We strongly
advise you to seek any tax advice from your own tax adviser.

     If any provision of this agreement is determined to be unenforceable, the remaining provisions
shall nonetheless be given effect. This agreement shall be construed in accordance with the laws
of the State of California without regard to conflict of law rules.

	 	 	 	 	 
	Sincerely,	 	 
	 
	 	 	 	 
	FLEXTRONICS INTERNATIONAL USA, INC.	 	 
	 
	 	 	 	 
	By:
	 	/s/ Michael Marks	 	 
	 

	 	 

Michael Marks
	 	 
	 

	 	Chief Executive Officer	 	 
	 
	 	 	 	 
	Accepted and agreed on this 8th day of July, 2005.	 	 
	 
	 	 	 	 
	/s/ Nicholas Brathwaite	 	 
	 	 	 
	Nicholas Brathwaiteexv10w05

 

Exhibit 10.05

Compensation Arrangement between Flextronics International Ltd. and Nicholas Brathwaite

Nicholas Brathwaite, our Chief Technology Officer and a newly-identified named executive officer,
receives an annual base salary of $650,000 and is eligible to receive a bonus of up to a maximum of
200% of base salary. The actual bonus paid, if any, to Mr. Brathwaite is based 50% on achievement
of quarterly and annual EPS targets and 50% on the performance of the Company’s Components business
unit.exv10w1

 

Exhibit 10.1

Services Agreement

American Medical Systems

Martin Emerson

10700 Bren Road West

Minnetonka, MN 55343

Dear Martin,

Salo, LLC appreciates the opportunity to provide services to you and is pleased to confirm the
following terms of engagement:

Scope of Services

Salo, LLC will provide financial professionals to render services on your premises and under your
supervision. For each engagement of our services, we will provide to you a Statement of Work to
this agreement (the “Agreement”) that will describe the services we will provide, the
professionals we will assign (“Contractors” or “Contractor”), and the hourly charge for each
Contractor. If any changes or additions are made to the Statement of Work, we will send you a new
attachment. Our Contractors will perform duties within their skills related to the engagement and
will expect that you understand that they are not authorized to sign tax returns, render legal or
accounting opinions, handle or transport cash or other negotiable instruments, or make any final
decisions on your behalf that would normally be made by one of your directors or officers.

Assignments are performed under the control and supervision of Client and Salo, LLC has no
responsibility with respect thereto. Salo, LLC does not warrant or guarantee that its Contractors
will provide or produce a technical or other solution to Client’s problems or needs or warrant
performance or results.

For one year after any Contractor or Contractor prospect is introduced to Client by Salo, LLC and
during any Assignments, and for one year after any Assignment, Client shall be prohibited from
soliciting such Contractor to work for Client as an employee of Client or as an independent
contractor that Client pays directly or from encouraging Contractor to make an inquiry of Client
regarding the same.

Client is responsible for having Contractors sign any Client forms related to proprietary
information, inventions assignment, and related agreements, consistent with Contractor’s
obligations to others. Notwithstanding any industry practice or course of dealing or otherwise,
Salo, LLC is not responsible for and shall not be liable for Client’s failure to obtain necessary
and sufficient agreements for protection or ownership of proprietary information or intellectual
property or noncompetition with respect to any Contractors.

Salo, LLC and Client agree to defend, indemnify and hold each other harmless from and against all
Damages relating to personal injury, death or tangible physical property damage that results from
that party’s willful or negligent act or omission. Salo, LLC agrees to defend, indemnify and hold
Client harmless from and against all Damages resulting from any alleged failure by Salo, LLC to pay
any wages, benefits or federal, state or local taxes relating to Contractors. Client agrees to
defend, indemnify and hold Salo, LLC harmless from and against all Damages resulting from any
alleged failure by Client to comply with applicable employment or health and safety laws.

Salo, LLC’s aggregate liability for any uninsured Damages arising out of Contractor services from
any cause or causes, including negligence, shall not exceed the total amount paid to Salo, LLC for
such Contractor services. For claims covered by insurance, Salo, LLC’s total liability shall not
exceed the amount paid to Salo, LLC for such Contractor services. For claims covered by insurance,
Salo, LLC’s total liability shall not exceed the amount paid on Salo, LLC’s behalf by insurers in
settlement or satisfaction of

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such claim. NEITHER SALO, LLC NOR CLIENT WILL BE LIABLE FOR ANY
SPECIAL, PUNITIVE, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES INCLUDING, BUT NOT LIMITED
TO, LOSS OR DAMAGE TO DATA OR PROPRIETARY INFORMATION, LOSS OF ANTICIPATED REVENUE, WORK STOPPAGE
OR IMPAIRMANT OF OTHER ASSETS, WHETHER OR NOT FORSEEABLE.

The parties agree to arbitrate any dispute concerning this Agreement pursuant to the commercial
arbitration rules of the American Arbitration Association in Minneapolis, Minnesota. The
arbitrator’s decision shall be final and non-appealable and the losing party shall pay the
prevailing party’s reasonable attorney’s fees and costs as determined by the court, arbitrator or
mediator.

Fees

Fees for services will be as described in each Statement of Work to this Agreement. Each
Contractor will keep a record of hours worked and present it to you weekly for your approval and
signature. Bills will be submitted to you weekly based upon your approval of the Contractor’s
record of hours worked, and you agree to pay our bills upon receipt.

Salo, LLC incurs substantial recruiting, screening, administrative, and marketing expenses in
connection with Contractor. In the event a Contractor furnished by Salo, LLC is directly hired as
a regular employee of the Client at any time during the first twelve months of an assignment or
within twelve months following its completion, Client hereby agrees to pay Salo, LLC a fee equal to
35% of the annual salary and bonus offered to Contractor. This fee is due and payable on the date
of hire, and any reduction or modification of this fee must be agreed to in writing by an
authorized Salo, LLC representative.

Equal Employment and Safety 

Both of us agree to comply with all applicable federal, state and local equal employment
opportunity laws, including, but not limited to, Title VII of the 1964 Civil Rights Act, the
Americans with Disabilities Act, the Minnesota Human Rights Act and, if applicable, any affirmative
action requirements of Executive Order 11246, the Rehabilitation Act of 1973 or the Vietnam Era
Veterans Readjustment Assistance Act of 1974. You certify that your premises comply with all
government requirements regarding safe working conditions and that our professionals working on
your premises will be given any required safety training or information.

Guarantee

If for any reason you are dissatisfied with a professional assigned to you, we will immediately
remove that person and furnish a replacement as soon as possible. If we are notified of your
dissatisfaction before the completion of the person’s second day of work, we will not charge you
for the first sixteen (16) hours worked by the person. We make no other warranty, either express
or implied. We will not be liable for incidental, indirect or consequential damages or lost
profits, and our maximum liability for any specific engagement, in any case, will not exceed the
fees actually paid to us for that engagement.

Termination or Changes

This Agreement reflects the entire understanding between us of our engagement. Any change to this
Agreement or the services must be in writing and signed by both of us. Either party may terminate
this Services Agreement for convenience, upon thirty (30) days’ prior written notice to the other
party.

General

(a) All notices shall be in writing; mailed notice shall be deemed given the third business day
after mailing. (b) This Agreement may be assigned by either party without the advance written
consent of the other. This Agreement shall be binding upon and inure to the benefit of the
parties, their successors, and

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assigns. (c) After expiration or termination of this Agreement, all
provisions relating to payment shall survive until completion of required payments. In addition,
all provisions regarding warranty and liability and limits thereon shall survive indefinitely. (d)
The parties shall at all times be independent contractors with respect
to each other in carrying out this Agreement. (e) Nothing contained in this Agreement shall create
a joint venture, partnership or employment relationship among the parties and no party has the
right, power or authority to create any obligation or duty, express or implied, on behalf of any
other party. (f) This Agreement shall be deemed to have been made in, and shall be governed by and
construed in accordance with the laws of, the State of Minnesota, exclusive of its rules governing
choice of law and conflict of laws. Any actions under this Agreement shall be brought in Hennepin
County District Court, State of Minnesota.

The terms of this Agreement will become effective upon our receipt of a copy of this Agreement
signed by you.

We appreciate the opportunity to be of service to you and look forward to working with you.

	 	 	 	 	 
	Salo, LLC

 	 
	By:  	/s/ Amy Langer
 	 
	 	 	Signature 	 
	 	 	Amy Langer 	 
	 

Date: August 7, 2006

Accepted and Agreed:

	 	 	 	 	 
	 	 
	By:  	/s/ Martin Emerson
 	 
	 	 	Signature 	 
	 	 	Martin Emerson 	 
	 

Date: August 8, 2006

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Client Attachment

Statement of Work

Client Name: American Medical Systems

This Statement of Work is issued pursuant to the Salo, LLC Services Agreement and relates
specifically to the following engagement:

Date of Client Services Agreement: August 7, 2006

Client Contact & Phone Number: Martin Emerson

Description of Work to be Performed: Interim Chief Financial Officer

Consultant Name: Jill Burchill

Hourly Bill Rate: $225 Regular—$275 Overtime*

Consultant Start Date: August 14, 2006

Consultant Approximate End Date: December 15, 2006

Either party may terminate this Statement of Work for convenience, upon thirty (30) days’ prior
written notice to the other party.

Accepted By:

	 	 	 	 	 
	Client	 	Salo, LLC
	By: 	/s/ Martin Emerson
 

Signature

Martin Emerson	 	By:	/s/ Amy Langer
 

Signature

Amy Langer

• Sálo, LLC is required by law to pay overtime to any Consultant working greater than 40 hours
in a work week, the billing rate for that Consultant’s overtime hours will be at a discounted rate
of $275/hour.

Client will pay Salo, LLC for the services of Contractors at the rates of pay specified in the
Engagement Letter, including overtime rates. Payments to Salo, LLC are due upon receipt of
invoice. Interest shall accrue at the lower of 1.5% per month or the maximum rate allowed by law
on amounts more than 30 days past due. Client shall pay reasonable costs and attorneys’ fees of
Salo, LLC for collection of past due accounts.

If you or any of your affiliates hire or engage any of our Consultants, whether directly or
indirectly, within twelve (12) months following the termination of the Consultant’s services to you
under this Statement of Work, you agree to pay us a fee equal to 35% of the Consultant’s
anticipated aggregate annual compensation, including bonuses. You agree to pay this fee in
addition to any hourly fees incurred by you prior to your hiring or engagement of the Consultant.

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