Document:

EX-10.3

 Exhibit 10.3 

TTM TECHNOLOGIES, INC. 

2014 INCENTIVE COMPENSATION PLAN 
  

 

20         PERFORMANCE-BASED RSU 

GRANT NOTICE AND AWARD AGREEMENT 

THIS 20         PERFORMANCE-BASED RSU GRANT NOTICE AND AWARD AGREEMENT (the
“Agreement”) is made and entered into as of                      (the “Grant Date”), between TTM Technologies, Inc.
a Delaware corporation (the “Company”) and                      (the “Recipient”). 

Recitals 
 WHEREAS,
the Compensation Committee of the Board of Directors of the Company (the “Committee”) has determined that it is in the best interests of the Company to recognize the Recipient’s performance and to provide incentive to the
Recipient to remain with the Company and its Related Entities by making this grant of performance-based Restricted Stock Units (“PRUs”) representing hypothetical shares of the Company’s common stock (the “Common
Stock”), in accordance with the terms of this Agreement; and 
 WHEREAS, the PRUs are granted pursuant to the TTM Technologies,
Inc. 2014 Incentive Compensation Plan, as the same may be amended and/or restated from time to time (the “Plan”), which is incorporated herein for all purposes. 

Agreement 
 NOW,
THEREFORE, in consideration of the premises set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

 

	1.	Grant of PRUs. 

 Subject to the terms and conditions of this Agreement and the Plan, the
Committee hereby grants to the Recipient a Restricted Stock Unit for a target number of              PRUs (the “Target Amount”). The number of PRUs actually awarded to
Recipient will be determined at the end of the performance period commencing the beginning of fiscal 20        
(                    , 20    ) and ending the end of fiscal 20        
(                    , 20        ) (the “Performance Period”). Each PRU will be equal in
value to one Share of the Company’s Common Stock. 
  

	2.	Performance Criteria. 

 The Recipient can earn the PRUs based on the Company’s
performance in (a) achieving annual financial performance goals established by the Committee, and (b) achieving a total stockholder return (“TSR”) over the three fiscal years ending
                    , 20        . The annual financial performance goals associated with this PRU Award will
be communicated by the Company annually via Committee-supplied supplements to this Agreement. The 20         supplement to this Agreement is attached hereto as Annex A, and reflects that the
20         financial performance goals are based on the Company’s 20         revenue and “EBITDA” (as hereinafter defined) during the Company’s
fiscal year. The annual performance goals for fiscal 20         and 20         may or may not be based on the Company’s revenue and/or EBITDA. The amount of the PRU
Award will range from 0% to 240% of the Target Amount as determined after the end of the Performance Period based upon the Company’s performance against the annual financial performance goals and three-year TSR as reviewed and approved by the
Committee. No PRUs are awarded if performance is below minimum levels. 

	3.	Milestones, Credits, Application of Modifier. 

  

	 	(a)	Milestones and Credits. The annual performance criteria associated with the PRU Award will be established by the Committee. A percentage of the Target Amount is determined annually based upon actual Company
performance against goals that are reviewed and approved annually by the Committee and will be made available through Committee-supplied supplements to this Agreement. 

One-sixth (1/6) of the Target Amount will vest based on the Company’s revenues in fiscal
20         relative to the target milestone set forth on Annex A. One-sixth of the Target amount will vest based on the Company’s EBITDA in fiscal 20        
relative to the target milestone set forth on Annex A. One-third (1/3) of the Target Amount will be based on the Company’s financial performance with respect to one or more target milestones established by the Committee for each of
fiscal 20         and fiscal 20         as set forth in supplements to this Agreement delivered by the Company to the Recipient not later than the 90th day of the relevant year. 
 As milestones are achieved, a portion of the Target Amount
shall be credited in the Recipient’s name. The amounts credited for fiscal 20         in connection with each of the annual revenue goal and EBITDA goal as a percentage of one-sixth the Target Amount will
be as follows: 0% if performance is below minimum level, 40% if performance is at minimum level, 100% if performance is at target level, and 160% if performance is at or above maximum level, each as set forth on Annex A. For performance
between the minimum level and the target level, a proportionate percentage between 40% and 100% will be applied based on relative performance between minimum and target. For performance between the target level and the maximum level, a proportionate
percentage between 100% and 160% will be applied based on relative performance between target and maximum. 
 The amount credited to the
Recipient is the “Conditional PRU Award.” 
  

	 	(b)	Modifier. Following the completion of the Performance Period, the Conditional PRU Award will be adjusted by the TSR modifier as set forth in this Section 3(b) (the “TSR modifier”).
The TSR modifier will be equal to zero if the minimum level is not met, resulting in no payout under this Agreement, and the modifier cannot exceed 150%. A Recipient’s PRU Award (if any) shall equal the Conditional PRU Award multiplied by the
TSR modifier, as approved by the Committee. 

 The TSR modifier will be as follows based on the Company’s calendar
three-year performance as compared to the fiscal three-year performance of the TSR Peer Group over the same period: 0% if performance is below the minimum level, 70% if performance is at the minimum level, 100% if performance is at the target level,
and 150% if performance is at or above the maximum level. For performance between the minimum level and the target level, a proportionate TSR modifier percentage between 70% and 100% will be applied based on relative performance between minimum and
target. For performance between the target level and the maximum level, a proportionate TSR modifier percentage between 100% and 150% will be applied based on relative performance between target and maximum. 

The TSR modifier with respect to the Company’s TSR relative to the TSR of the TSR Peer Group during the Performance Period will be as
follows for the entire Performance Period: 
  

					
	Company TSR Relative to TSR Peer Group TSR*
	
Minimum
(20th percentile)
	  	 Target

(50th percentile)
	  	 Maximum

(80th percentile or above)

	 TSR Modifier             .70
	  	1.00	  	1.50

  
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	 	*	Company TSR and TSR Peer Group TSR will be computed using average six-month closing prices preceding the
        /        /         and
        /        /         measurement dates, and shall in each case assume reinvestment of dividends paid during the Performance
Period. 

  

	4.	Payout of PRUs. 

 If the Committee determines that the goals described in
Section 3 have been met and certifies the extent to which those goals have been met, and the terms and conditions set forth in this Agreement are fulfilled, then the Recipient’s PRU Award as determined under
Section 3(b), 9, 10 or 11, as applicable, shall no longer be restricted and Shares will be transferred to the Recipient after the end of the Performance Period and on or before
                    , 20        , in an amount equal to the number of PRUs earned pursuant to
Section 3(b), 9, 10 or 11, as applicable, in each case, net of applicable withholdings. 
  

	5.	Transferability. 

 The PRUs awarded hereunder are not transferable otherwise than by will
or under the applicable laws of descent and distribution, and the terms of this Agreement shall be binding upon the executors, administrators, heirs, successors, and assigns of the Recipient. Any attempt to effect a Transfer of any PRUs shall be
void ab initio. For purposes of this Agreement, “Transfer” shall mean any sale, transfer, encumbrance, gift, donation, assignment, pledge, hypothecation, or other disposition, whether similar or dissimilar to those previously
enumerated, whether voluntary or involuntary, and including, but not limited to, any disposition by operation of law, by court order, by judicial process, or by foreclosure, levy or attachment. 

 

	6.	Custody of PRUs. 

 The PRUs subject hereto shall be held in a restricted book entry
account in the name of the Recipient. Upon completion of the Performance Period, Shares issued pursuant to Section 4 above shall be released into an unrestricted book entry account; provided, however, that a portion of such
Shares may be surrendered in payment of taxes in accordance with Section 15 below, unless the Company, in its sole discretion, establishes alternative procedures for the payment of such taxes. 

 

	7.	Hypothetical Nature of PRUs. 

 The Recipient shall not have any rights, benefits, or
entitlements with respect to the Shares corresponding to the PRUs unless and until those Shares are delivered to the Recipient (and thus shall have no voting rights, or rights to receive any dividend declared, before those Shares are so delivered).
On or after delivery, the Recipient shall have, with respect to the Shares delivered, all of the rights of a holder of Shares granted pursuant to the certificate of incorporation and other governing instruments of the Company, or as otherwise
available at law. 
  

	8.	Termination of Continuous Service. 

 Except as set forth in Sections 9, 10, 11 and
12 below, if the Recipient’s Continuous Service is terminated for any reason prior to the end of the Performance Period, then any and all PRUs granted hereunder shall be forfeited immediately upon such termination of Continuous Service and
revert back to the Company without any payment to the holder thereof. The Committee shall have the power and authority to enforce on behalf of the Company any rights of the Company under this Agreement in the event of the forfeiture of PRUs pursuant
to this Section 8. 
  

	9.	Retirement of the Recipient. 

 If the Recipient’s Continuous Service is terminated
due to “Retirement,” the Recipient shall be eligible to receive a pro rata amount of the PRU Award (if any) payable after the end of the 

  
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Performance Period as described in Section 4 above. For each year or part of a year that the Recipient is in the Continuous Service with the Company and its Related Entities during
the Performance Period, the amount credited towards the Conditional PRU Award will be determined by multiplying the amount otherwise credited at the end of the applicable year by a fraction equal to the number of whole months elapsed between the
beginning of such year and the Recipient’s Retirement, divided by 12. The resulting amount will be credited towards the Conditional PRU Award and adjusted by the TSR modifier. 

 

	10.	Total and Permanent Disability of the Recipient. 

 If the Recipient’s Continuous
Service is terminated due to Disability, the Recipient (or a legally designated guardian or representative if the Recipient is legally incompetent) shall be eligible to receive a pro rata amount of the PRU Award (if any) payable after the end of the
Performance Period as described in Section 4 above. For each year or part of a year that the Recipient is in the Continuous Service with the Company and its Related Entities during the Performance Period, the amount credited towards the
Conditional PRU Award will be determined by multiplying the amount otherwise credited at the end of the applicable year by a fraction equal to the number of whole months elapsed between the beginning of such year and the Recipient’s Retirement,
divided by 12. The resulting amount will be credited towards the Conditional PRU Award and adjusted by the TSR modifier. 
  

	11.	Death of the Recipient. 

 If the Recipient’s Continuous Service is terminated due to
death, the Recipient’s estate or designated beneficiary shall be eligible to receive a pro rata amount of the PRU Award (if any) payable after the end of the Performance Period as described in Section 4 above. For each year or part
of a year that the Recipient is in the Continuous Service with the Company and its Related Entities during the Performance Period, the amount credited towards the Conditional PRU Award will be determined by multiplying the amount otherwise credited
at the end of the applicable year by a fraction equal to the number of whole months elapsed between the beginning of such year and the Recipient’s Retirement, divided by 12. The resulting amount will be credited towards the Conditional PRU
Award and adjusted by the TSR modifier. 
  

	12.	Change-in-Control. 

 If, within 12 months after a Change In Control, the Recipient’s
Continuous Service is terminated without Cause, or by the Recipient for Good Reason, the Company shall deliver to the Recipient, within 60 days after the date of such termination of Continuous Service, the Target Amount of Shares subject to the PRU
Award made pursuant to this Agreement. The provisions of this Section 12 supersede any inconsistent provisions with respect to the impact of a Change in Control on the PRU Award made by this Agreement, including, but not limited to
Section 5 of any Executive Change in Control Severance Agreement between the Company and the Recipient. In the event of any such inconsistency, this Agreement shall be controlling. 

 

	13.	Definitions. 

 For purposes of this Agreement: 

“EBITDA” means the Company’s consolidated net income, computed in accordance with generally accepted accounting
principles but excluding any gains or losses from building and other significant asset sales, if any, plus, without duplication and to the extent reflected as a charge or expense in the calculation of net income, the sum of (i) income
tax expense, (ii) interest expense and amortization of debt issuance costs, (iii) depreciation and amortization expense, (iv) stock-based compensation expense, including compensation expense attributable to this Agreement and the
Company’s other performance-based Stock Units, (v) goodwill impairment, (vi) asset write downs, (vii) plant closure and related layoff costs, (viii) acquisition costs, (ix) amortization of intangibles, and (x) loss
on extinguishment of debt. 

  
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 “Retirement” means (i) any voluntary termination of Continuous Service by
the Recipient at age 62 or older, provided that the Recipient has at least five (5) years of Continuous Service prior to such termination, or (ii) any termination of the Recipient’s Continuous Service by the Company, without Cause,
provided that the Recipient is age 62 or older and has at least five (5) years of Continuous Service prior to such termination. 
  

							
			“TSR Peer Group” consists of the following companies:		  

			  

			  

			  
		.

  

	14.	Section 409A. 

 Payments made pursuant to the Plan and this Agreement are intended
to comply with or qualify for an exemption from Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). The Company reserves the right, to the extent the Company deems necessary or advisable in its sole
discretion, to unilaterally amend or modify the Plan and/or this Agreement to ensure that all PRU Awards are made in a manner that complies with Section 409A (including, without limitation, the avoidance of penalties thereunder),
provided, however, that the Company makes no representations that the PRU Awards will be exempt from any penalties that may apply under Section 409A and makes no undertaking to preclude Section 409A from applying to this PRU
Award. 
 Notwithstanding anything to the contrary in this Agreement or the Plan, if the Recipient is a “Specified Employee” (as
defined below) then the delivery of Shares otherwise required to be made under this Agreement on account of the termination of the Recipient’s Continuous Service shall be made within thirty (30) days after the sixth (6th) month anniversary of the date of the termination of the Recipient’s Continuous Service or, if earlier, the date of the Recipient’s death if such deferral is required to comply with
Section 409A of the Code. For purposes of this Agreement, a “Specified Employee” shall mean any individual who, at the time of his or her separation from Continuous Service with the Company and its Related Entities, is a “key
employee”, within the meaning of Section 416(i) of the Code, of the Company or any Related Entity, the stock of which is publicly traded on an established securities market or otherwise. 

For purposes of applying the provisions of Section 409A to this Agreement, each separately identified amount to which the Recipient is
entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Section 409A, any series of installment payments under this Agreement shall be treated as a right to a series of separate
payments. 
  

	15.	Taxes. 

  

	 	(a)	 The Recipient shall be liable for any and all taxes, including withholding taxes and fringe benefit tax or such other taxes that the Recipient’s
employer (the “Employer”) is legally allowed or permitted to recover from the Recipient, arising out of this grant or the issuance of Shares hereunder. In the event that the Company or the Employer is liable for taxes that are
legally permitted to be recovered from the Recipient or is required to withhold taxes as a result of the grant of PRUs or the issuance or subsequent sale of Shares acquired pursuant to such PRUs, the Recipient shall surrender a sufficient number of
whole Shares, make a cash payment or make adequate arrangements satisfactory to the Company and/or the Employer to withhold such taxes from the Recipient’s wages or other cash compensation paid to the Recipient by the Company and/or the
Employer at the election of the Company, in its sole discretion, or, if permissible under local law, the Company may sell or arrange for the sale of Shares that Recipient acquires as necessary to cover all applicable required withholding taxes,
taxes that are legally recoverable from the Recipient (such as fringe benefit tax) and required social security contributions at the time the Shares 

  
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subject to the PRUs are issued. The Recipient will receive a cash refund for any fraction of a surrendered Share or Shares in excess of any required withholding taxes, taxes that are legally
recoverable from the Recipient (such as fringe benefit tax), and required social security contributions. To the extent that any surrender of Shares or payment of cash or alternative procedure for such payment is insufficient, the Recipient
authorizes the Company, the Employer, and the Related Entities, which are qualified to deduct tax at source, to deduct from the Recipient’s compensation all applicable required withholding taxes, taxes that are legally recoverable from the
Recipient (such as fringe benefit tax) and social security contributions. The Recipient agrees to pay any amounts that cannot be satisfied from wages or other cash compensation, to the extent permitted by law. 

 

	 	(b)	Regardless of any action the Company or the Employer takes with respect to any or all income tax, social security, payroll tax, payment on account, taxes that are legally recoverable from the Recipient (such as fringe
benefit tax) or other tax-related withholding (“Tax-Related Items”), the Recipient acknowledges and agrees that the ultimate liability for all Tax-Related Items legally due by him is and remains the Recipient’s responsibility
and that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Agreement, including the grant of PRUs, subsequent issuance of Shares
related to such PRUs and the subsequent sale of any Shares acquired pursuant to such PRUs; and (ii) do not commit to structure the terms or any aspect of this grant of PRUs to reduce or eliminate the Recipient’s liability for Tax-Related
Items. The Recipient shall pay the Company or the Employer any amount for Tax-Related Items that the Company or the Employer may be required to withhold as a result of the Recipient’s participation in the Plan or the Recipient’s receipt of
PRUs that cannot be satisfied by the means previously described. The Company may refuse to deliver the Shares pursuant to Section 4 if the Recipient fails to comply with the Recipient’s obligations in connection with the Tax-Related
Items. 

  

	 	(c)	In accepting the PRU Award, the Recipient consents and agrees that in the event the PRU Award becomes subject to an employer tax that is legally permitted to be recovered from the Recipient, as may be determined by the
Company and/or the Employer at their sole discretion, and whether or not the Recipient’s Continuous Service is continuing at the time such tax becomes recoverable, the Recipient will assume any liability for any such taxes that may be payable
by the Company and/or the Employer in connection with the PRU Award. Further, by accepting the PRU Award, the Recipient agrees that the Company and/or the Employer may collect any such taxes from the Recipient by any of the means set forth in this
Section 15. The Recipient further agrees to execute any other consents or elections required to accomplish the above, promptly upon request of the Company. 

 

	16.	Data Privacy Consent. 

 The Recipient hereby explicitly and unambiguously consents to the
collection, use and transfer, in electronic or other form, of the Recipient’s personal data as described in this document by and among, as applicable, the Employer, the Company and/or its Related Entities for the exclusive purpose of
implementing, administering and managing the Recipient’s participation in the Plan. The Recipient understands that the Company, its Related Entities and the Employer hold certain personal information about the Recipient, including, but not
limited to, name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all PRUs, options or any
other entitlement to shares of stock awarded, canceled, purchased, exercised, vested, unvested or outstanding in the Recipient’s favor for the purpose of implementing, managing and administering the Plan (“Data”). The Recipient
understands that the Data may be transferred to third parties assisting in the implementation, administration and management of the Plan, that these recipients may be located in the Recipient’s country or elsewhere and that the recipient
country may have different data privacy laws and protections than the Recipient’s 

  
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country. The Recipient authorizes the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing
the Recipient’s participation in the Plan, including any requisite transfer of such Data, as may be required to a broker or other third party with whom the Recipient may elect to deposit any Shares acquired under the Plan. The Recipient
understands that Data will be held only as long as is necessary to implement, administer and manage participation in the Plan. The Recipient understands that he may, at any time, view Data, request additional information about the storage and
processing of the Data, require any necessary amendments to the Data or refuse or withdraw the consents herein, in any case without cost, by contacting the Company’s senior human resources officer in writing. The Recipient understands that
refusing or withdrawing consent may affect the Recipient’s ability to participate in the Plan. For more information on the consequences of refusing to consent or withdrawing consent, the Recipient understands that he may contact the resources
officer. 
  

	17.	Acknowledgment and Waiver. 

 By accepting this grant of PRUs, the Recipient acknowledges
and agrees that: (i) the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time unless otherwise provided in the Plan or this Agreement;
(ii) the grant of PRUs is voluntary and occasional and does not create any contractual or other right to receive future grants of Shares or PRUs, or benefits in lieu of Shares or PRUs, even if Shares or PRUs have been granted repeatedly in the
past; (iii) all decisions with respect to future grants, if any, will be at the sole discretion of the Company; (iv) the Recipient’s participation in the Plan shall not create a right to further employment with the Employer and shall
not interfere with the ability of the Employer to terminate the Recipient’s employment relationship at any time with or without Cause, and it is expressly agreed and understood that employment is terminable at the will of either party, insofar
as permitted by law; (v) the Recipient is participating voluntarily in the Plan; (vi) PRUs, PRU grants and resulting benefits are an extraordinary item that is outside the scope of the Recipient’s employment or service contract, if
any; (vii) PRUs, PRU grants and resulting benefits are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service
payments, bonuses, long-service awards, pension or retirement benefits or similar payments insofar as permitted by law; (viii) this grant of PRUs will not be interpreted to form an employment contract with the Company, the Employer or any
Related Entity; (ix) the future value of the underlying Shares is unknown and cannot be predicted with certainty; (x) in consideration of this grant of PRUs, no claim or entitlement to compensation or damages shall arise from termination
of this grant of PRUs or diminution in value of this grant of PRUs resulting from termination of the Recipient’s Continuous Service (for any reason whatsoever and whether or not in breach of local labor laws) and the Recipient irrevocably
releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by accepting the terms of this Agreement, the Recipient
shall be deemed irrevocably to have waived any entitlement to pursue such claim; (xi) notwithstanding any terms or conditions of the Plan to the contrary, in the event of involuntary termination of the Recipient’s employment (whether or
not in breach of local labor laws), the Recipient’s right to receive benefits under this Agreement after termination of Continuous Service, if any, will be measured by the date of termination of the Recipient’s active Continuous Service
and will not be extended by any notice period mandated under local law; (xii) the Committee shall have the exclusive discretion to determine when the Recipient is no longer actively in the Continuous Service of the Company and its Related
Entities for purposes of this grant of PRUs; and (xiii) if the Company’s performance is below minimum levels as set forth in this Agreement or any annual supplement hereto, no PRUs will be awarded and no Shares will be issued to the
Recipient. 

  
 7 

	18.	Miscellaneous. 

  

	 	(a)	The parties agree to execute such further instruments and to take such action as may reasonably be necessary to carry out the intent of this Agreement. 

 

	 	(b)	Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon delivery to the Recipient at his or her address then on file with the Company and its Related Entities.

  

	 	(c)	The Plan is incorporated herein by reference. The Plan and this Agreement, together with each annual supplement hereto, constitute the entire agreement of the parties with respect to the subject matter hereof and
supersede in their entirety all prior undertakings and agreements of the Company, its Related Entities and the Recipient with respect to the subject matter hereof, and may not be modified adversely to the Recipient’s interest except by means of
a writing signed by the Company and the Recipient. Notwithstanding the foregoing, nothing in the Plan or this Agreement shall affect the validity or interpretation of any duly authorized written agreement between the Company and the Recipient under
which an Award properly granted under and pursuant to the Plan serves as any part of the consideration furnished to the Recipient, including without limitation, any agreement that imposes restrictions during or after employment regarding
confidential information and proprietary developments. This Agreement is governed by the laws of the state of California. 

  

	 	(d)	Neither this Agreement nor the grant of the Restricted Stock Units hereunder shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company and the Recipient
or any other person. The Restricted Stock Units subject to this Agreement represent only the Company’s unfunded and unsecured promise to issue Shares to the Recipient in the future. To the extent that the Recipient or any other person acquires
a right to receive payments from the Company pursuant to this Agreement, that right shall be no greater than the right of any unsecured general creditor of the Company. 

 

	 	(e)	If the Recipient has received this or any other document related to the Plan translated into a language other than English and if the translated version is different than the English version, the English version will
control. 

  

	 	(f)	The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and
enforceable. 

  

	 	(g)	Any capitalized terms not defined herein shall have the same meaning they have in the Plan. 

  
 8 

 
			
	COMPANY:
	
	TTM TECHNOLOGIES, INC.
		
	By:		  

			
			
	
	RECIPIENT:
	
	  

  
 9 

 20         Annual Supplement to 

ANNEX A 
 to

 20         Performance-Based 

RSU Grant Notice and Agreement 
  

	1.	The Company’s fiscal 20         financial performance will affect the vesting of one-third (1/3) of the Target Amount as follows: 

(a) The Company’s fiscal 20         revenues will affect the vesting of one-sixth (1/6) of
the Target Amount. 
 (b) The Company’s fiscal 20         EBITDA will affect the vesting of
one-sixth (1/6) of the Target Amount. 
  

	2.	The target performance milestones for fiscal 20         are as follows (in millions): 

  

					
	 Revenue
	  	EBITDA	 
	 $                    
	  	$	                    	  

  

	3.	The applicable vesting percentages with respect to the fiscal 20         target milestones are as follows: 

 

													
	 	  	Actual Performance Relative to Target Milestone	 
	 	  	Minimum
(60% of target)	 	 	Target
(100% of target)	 	 	Maximum
(120% or more of target)	 
	 Percentage “banked” by Recipient*
	  	 	40	% 	 	 	100	% 	 	 	160	% 

  

	 	*	Percentage applies to each performance milestone, each of which performance milestones for 20         is equally weighted and applicable to one-sixth (1/6) of the Target
Amount. 

  
 A-1EX-10.4

 Exhibit 10.4 

FORM OF EXECUTIVE CHANGE IN CONTROL SEVERANCE AGREEMENT 

This Executive Change in Control Severance Agreement (this “Agreement”), is made as of the
                     day of                     ,
20         (the “Effective Date”), by and between TTM Technologies, Inc., a Delaware corporation (the “Company”), and
                     (the “Executive”). 

Recitals 
 A. The
Executive currently serves as                      of the Company. 

B. The Board of Directors of the Company (the “Board”) acknowledges that the potential for a change in control of the
Company, whether friendly or hostile, currently exists and from time to time in the future will exist, which potential can give rise to uncertainty among the senior executives of the Company. The Board considers it essential to the best interests of
the Company to reduce the risk of the Executive’s departure and the inevitable distraction of the Executive’s attention from his or her duties to the Company, which are normally attendant to such uncertainties. 

C. The Executive confirms that the terms of this Agreement reduce the risks of his or her departure and distraction of his or her attention
from his or her duties to the Company and, accordingly, desires to enter into this Agreement. 
 Agreement 

In consideration of the foregoing and the mutual covenants contained herein, the Company and the Executive agree as follows: 

1. Definitions. Capitalized terms used herein shall have the meanings given to them in Appendix I attached hereto, except where
the context requires otherwise. 
 2. Term of Agreement. This Agreement shall be effective as of the Effective Date and shall
continue in effect until the second anniversary of the Effective Date, provided, however, that the term of this Agreement automatically shall be extended for one additional year effective as of each anniversary of the Effective Date
beginning with the second anniversary, unless either the Company or the Executive provides written notice to the other that the term of this Agreement shall terminate on the upcoming anniversary of the Effective Date, provided such notice is
received by the receiving party not less than ninety (90) days prior to the intended date of termination and provided further that the Company shall not be entitled to deliver to the Executive such notice in the event of a Change in
Control or a Pending Change in Control. Notwithstanding the foregoing, this Agreement shall terminate immediately upon the later to occur of (a) the termination of the Executive’s employment other than in the event of a Change in Control
or a Pending Change in Control or (b) 12 months following a Change in Control. 
 3. At Will Employment; Reasons for
Termination. The Executive’s employment shall continue to be at-will, as defined under applicable law. If the Executive’s employment terminates for any reason or no reason, the Executive shall not be entitled to any compensation,
benefits, damages, awards or other payments in respect of such termination, except as provided in this Agreement or pursuant to the terms of any Applicable Benefit Plan. The Executive’s employment shall be deemed to be terminated upon the first
to occur of the following: (a) the Executive’s voluntary resignation; (b) termination by the Company for any reason; (c) the Executive’s death or Long-Term Disability; and (d) termination by the Executive for Good
Reason following a Change in Control. 
 4. Legal Benefits; Accrued Compensation; Severance Amount.  

(a) Compensation and Benefits Required by Law or Applicable Benefit Plan. Notwithstanding anything to the contrary herein, the
Executive or his or her estate shall be entitled to receive any and all compensation, benefits, awards and other payments required by any Applicable Benefit Plan, the COBRA Act or other applicable law, (the “Legal Benefits”)
at such times and in such manner as set forth in the Applicable Benefit Plan, COBRA Act or other applicable law. 
 (b) Involuntary
Termination. In addition to the Legal Benefits referred to in paragraph 4(a) above, in the event the Executive’s employment is terminated under circumstances constituting an Involuntary Termination, the Executive shall be entitled to
receive: 

 (i) within 15 calendar days after the Date of Termination, the Executive’s
Accrued Compensation through the Date of Termination; 
 (ii) on the
61st day after the Date of Termination, provided the requirements referenced in paragraph 4(c) below have been satisfied and subject to paragraphs 12 and 13 below, a lump sum
amount in cash equal to two times the sum of (A) the Executive’s annual Base Salary, plus (B) the Executive’s Target Bonus (the “Severance Amount”); and 

(iii) if the Executive timely elects to receive continuation of group health coverage for the Executive and his or her
dependents pursuant to the COBRA Act, provided the requirements referenced in paragraph 4(c) below have been satisfied, then the Company shall pay the COBRA premiums for the Executive and his or her dependents for six (6) months
following the Date of Termination (the “COBRA Payments”). In the event that the requirements reference in paragraph 4(c) below fail to be satisfied, then the Company’s obligation to make the COBRA Payments shall
immediately cease and no longer have any force or effect, and to the extent that the Company has previously made any such COBRA Payments on behalf of the Executive, the Executive shall immediately repay such amounts to the Company. 

(c) No Payment nor Acceleration Without Release. Notwithstanding anything to the contrary contained herein, the Executive shall not be
entitled to any Severance Amount referenced in paragraph 4(b)(ii) above, the COBRA Payments reference in paragraph 4(b)(iii) above or the acceleration of vesting reference in paragraphs 5 below, unless and until he or she has provided
to the Company a full release of claims, substantially in the form of Appendix II attached hereto, which release (i) shall be dated not earlier than the date of the termination of his or her employment, (ii) shall be executed within
sixty (60) days after the Date of Termination; (iii) not have been revoked by the Executive and (iv) shall release the Company of any claims that the Executive may have in respect of his or her employment with the Company or the
termination thereof. 
 5. Effect on Stock Option, Restricted Stock, Restricted Stock Unit and Performance-Based Restricted Stock Unit
Awards. The effect of a Change in Control with respect to any then outstanding equity awards that were granted to the Executive, including, without limitation, Options, Restricted Stock, RSUs and PRUs, shall be governed by the terms and
conditions set forth in the applicable award agreements and the equity plan such awards were granted thereunder; provided, however, notwithstanding anything to the contrary in any individual agreement or any equity plan, in the event of an
Involuntary Termination, then the unvested portions of all of the Executive’s time-vest RSUs then outstanding shall immediately vest, in full, as of the Date of Termination of the Executive. 

6. Restrictive Covenants. In the event Executive employment is terminated under circumstance constituting an Involuntary
Termination, and Executive executes the Release and Covenant Not To Sue (Attachment A to Appendix II to this Agreement) and receives the consideration provided for in the Agreement, Executive must also comply with the following restrictive covenants
for a period of twelve (12) months following the Date of Termination: 
 (a) Executive will not directly or indirectly solicit,
influence, entice or encourage any person who is employed by the Company on or after the date of his or her termination date to accept employment with any new employer or to otherwise cease his or her relationship with the Company. The restrictions
set forth in this paragraph 6(a) mean, among other things, that Executive will refrain from disclosing the names of the Company’s employees, or any information about them, and will refrain from in any way assisting any new employer in
recruiting or hiring any of the Company’s employees or former employees. 
 (b) Executive will not, directly or indirectly (on his or
her own behalf or on behalf of another person or entity) interfere with, disrupt or attempt to disrupt any present or prospective relationship, contractual or otherwise, between the Company and any of its customers, suppliers or employees. The
restrictions set forth in this paragraph 6(b) include, among other things, that Employee will not sell or attempt to sell services and/or products similar to those which the Company offers to its customers. 

7. Non-Disparagement. Employee will refrain from making any false representations or statements, whether written or oral,
to any person or entity, including but not limited to customers or competitors of the Company, or any comments which are intended to disparage the Company or its parent, subsidiaries or managing agents or any of their directors or officers. This
provision does not prohibit Employee from participating in an EEOC or other civil rights 

  
 2 

 
enforcement agency charge, investigation or proceeding, nor is it intended to prevent Executive from discussing with others, or making a complaint about, his or her wages or from engaging in any
other legally protected activities 
 8. Confidential Information. Executive acknowledges that by reason of his or her
position with the Company, he or she has been given access to confidential, proprietary and/or trade secret information regard the Company, its parent, subsidiary and affiliated corporations, and its customers (the “Confidential
Information”). “Confidential Information,” as used in this Agreement, means information that is not generally known to the public and that the Company treats as confidential and proprietary, including, but not limited to, engineering
plans, designs, techniques, Company research and development, business strategies, sales and marketing plans and activities, the terms of contracts, customer relationships, financial information and projections, budgets, pricing information,
personnel information, and other information, which is not generally known to the public. Confidential Information also includes, without limitation, the terms of this Agreement. Executive represents that he or she has maintained the confidentiality
of all such Confidential Information, will continue to do so, and will not use or disclose such Confidential Information to any person or entity without the prior written consent of the Company during his or her employment of after the termination
of employment. On or before the Date of Termination of Executives employment, and prior to receiving the consideration provided for in this Agreement, Executive will immediately return to the Company all documents (including copies and electronic
storage devices) within his or her possession or control which contain any Confidential Information. 
 9. Mitigation. In no
event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, and except as set forth in paragraph 4
above, such amounts shall not be reduced whether or not the Executive obtains other employment. 
 10. Successors.  

(a) This Agreement is personal to the Executive, and, without the prior written consent of the Company, shall not be assignable by the
Executive other than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 

(b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

(c) The Company shall use reasonable efforts to require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession
had taken place. 
 11. Miscellaneous.  

(a) The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement constitutes the
entire agreement and understanding of the parties in respect of the subject matter hereof and supersedes all prior understanding, agreements, or representations by or among the parties, written or oral, to the extent they relate in any away to the
subject matter hereof (including but not limited to any provisions with respect to severance payments related to any “change in control” that may be included in any prior offer letter, employment agreement or earlier executive change in
control severance agreement); provided, however, this Agreement shall have no effect on any confidentiality agreements or assignment of inventions agreements between the parties. This Agreement may not be amended or modified other than by a
written agreement executed by the parties hereto or their respective successors and legal representatives. 
 (b) All notices and other
communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

if to the Executive: 
  

			
			  

			  

			
			  

 if to the Company: 

TTM Technologies, Inc. 
 1665
Scenic Avenue Suite 250 
 Costa Mesa, CA 92626 

Attn: Chief Executive Officer 

With a copy to: 
 Greenberg
Traurig, LLP 
 2375 E. Camelback Road, Suite 700 

Phoenix, AZ 85016 
 Attention:
Bruce E. Macdonough 
 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and
communications shall be effective when actually received by the addressee. 
 (c) The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
 (d) The Company may withhold
from any amounts payable under this Agreement such federal, state or local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 

(e) The Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the failure
to assert any right the Executive or the Company may have hereunder shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

(f) All claims by the Executive for payments or benefits under this Agreement shall be promptly forwarded to and addressed by the
Compensation Committee and shall be in writing. Any denial by the Compensation Committee of a claim for benefits under this Agreement shall be delivered to the Executive in writing and shall set forth the specific reasons for the denial and the
specific provisions of this Agreement relied upon. The Compensation Committee shall afford the Executive a reasonable opportunity for a review of the decision denying a claim and shall further allow the Executive make a written demand upon the
Company to submit the disputed matter to arbitration in accordance with the provisions of paragraph 11(g) below. The Company shall pay all expenses of the Executive, including reasonable attorneys and expert fees, in connection with any
such arbitration. If for any reason the arbitrator has not made his or her award within one hundred eighty (180) days from the date of Executive’s demand for arbitration, such arbitration proceedings shall be immediately suspended and the
Company shall be deemed to have agreed to Executive’s position. Thereafter, the Company shall, as soon as practicable and in any event within 10 business days after the expiration of such 180-day period, pay Executive his or her reasonable
expenses and all amounts reasonably claimed by him or her that were the subject of such dispute and arbitration proceedings. 
 (g) Subject
to the terms of paragraph 11(f) above, any dispute arising from, or relating to, this Agreement shall be resolved at the request of either party through binding arbitration in accordance with this paragraph 11(g). Within 10
business days after demand for arbitration has been made by either party, the parties, and/or their counsel, shall meet to discuss the issues involved, to discuss a suitable arbitrator and arbitration procedure, and to agree on arbitration rules
particularly tailored to the matter in dispute, with a view to the dispute’s prompt, efficient, and just resolution. Upon the failure of the parties to agree upon arbitration rules and procedures within a reasonable time (not longer than 15
business days from the demand), the Commercial Arbitration Rules of the American Arbitration Association shall be applicable. Likewise, upon the failure of the parties to agree upon an arbitrator within a reasonable time (not longer than 15 business
days from demand), there shall be a panel comprised of three arbitrators, one to be appointed by each party and the third one to be selected by the two arbitrators jointly, or by the American Arbitration Association, if the two arbitrators cannot
decide on a third arbitrator. At least 30 days before the arbitration hearing (which shall be set for a date no later than 60 days from the demand), the parties shall allow each other reasonable written discovery including the inspection and copying
of documents and other tangible items relevant to the issues that are to be presented at the arbitration hearing. The arbitrator(s) shall be empowered to decide any disputes regarding the scope of discovery. The award rendered by the arbitrator(s)
shall be final and binding upon both parties. The arbitration shall be conducted in Orange County in the State of California. The California District Court located in 

 
Orange County shall have exclusive jurisdiction over disputes between the parties in connection with such arbitration and the enforcement thereof, and the parties consent to the jurisdiction and
venue of such court for such purpose. 
 (h) This Agreement shall be governed by the laws of the State of California, without giving effect
to any choice of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of California. 

12. Other Terms Relating to Section 409A of the Code 

(a) Except as provided in paragraph 12(b) below, amounts payable under this Agreement following the termination of
Executive’s employment with the Company or a subsidiary, other than those expressly payable on a deferred or installment basis or as reimbursement of expenses, will be paid as promptly as practicable after such a termination of employment and,
in any event, within 2 1/2 months after the end of the year in which employment terminates and amounts payable as reimbursements of expenses to the Executive must be made on or before the last day
of the calendar year following the calendar year in which such expense was incurred. 
 (b) Anything in this Agreement to the contrary
notwithstanding, if (i) on the date of termination of Executive’s employment with the Company or a subsidiary, any of the Company’s stock is publicly traded on an established securities market or otherwise (within the meaning of
Section 409A(a)(2)(B)(i) of the Internal Revenue Code, as amended (the “Code”)), (ii) if Executive is determined to be a “specified employee” within the meaning of Section 409A(a)(2)(B) of the Code,
(iii) the payments exceed the amounts permitted to be paid pursuant to Treasury Regulations section 1.409A-1(b)(9)(iii) and (iv) such delay is required to avoid the imposition of the tax set forth in Section 409A(a)(1) of the Code, as
a result of such termination, the Executive would receive any payment that, absent the application of this paragraph 12(b), would be subject to interest and additional tax imposed pursuant to Section 409A(a) of the Code as a result
of the application of Section 409A(2)(B)(i) of the Code, then no such payment shall be payable prior to the date that is the earliest of (A) six months after the Date of Termination, (B) the Executive’s death or (C) such
other date as will cause such payment not to be subject to such interest and additional tax (with a catch-up payment equal to the sum of all amounts that have been delayed to be made as of the date of the initial payment). 

(c) It is the intention of the parties that payments or benefits payable under this Agreement not be subject to the additional tax imposed
pursuant to Section 409A of the Code. To the extent such potential payments or benefits could become subject to such Section, the parties shall cooperate to amend this Agreement with the goal of giving the Executive the economic benefits
described herein in a manner that does not result in such tax being imposed. 
 (d) A termination of employment under this Agreement shall
be deemed to occur only in circumstances that would constitute a “separation from service” for purposes of Treasury Regulations section 1.409A-1(h)(1)(ii). 

(e) Wherever payments under this Agreement are to be made in installments, each such installment shall be deemed to be a separate payment for
purposes of Section 409A of the Code. 
 13. Certain Possible Reduction of Payments by the Company 

(a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the
Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (a “Payment”), would be nondeductible by the Company for Federal
income tax purposes because of Section 280G of the Code, then the aggregate present value of amounts payable or distributable to or for the benefit of the Executive pursuant to this Agreement (such payments or distributions pursuant to this
Agreement are hereinafter referred to as “Agreement Payments”) shall be reduced to the Reduced Amount (as defined below), but only if and to the extent that the after-tax value of reduced Agreement Payments would exceed the
after-tax value of the Agreement Payments received by the Executive without application of such reduction. The “Reduced Amount” shall be an amount expressed in present value which maximizes the aggregate present value of
Agreement Payments without causing any Payment to be nondeductible by the Company because of Section 280G of the Code. Anything to the contrary notwithstanding, if the Reduced Amount is zero and it is determined further that any Payment which
is not an Agreement Payment would nevertheless be nondeductible by the Company for Federal income tax purposes because of Section 280G of the Code, then the aggregate present value of Payments which

 
are not Agreement Payments shall also be reduced (but not below zero) to an amount expressed in present value which maximizes the aggregate present value of Payments without causing any Payment
to be nondeductible by the Company because of Section 280G of the Code. For purposes of this paragraph 13(a), present value shall be determined in accordance with Section 280G(d)(4) of the Code. 

(b) All determinations required to be made under this paragraph 13 shall be made by KPMG LLP or another independent registered
accounting firm selected by the Board (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within twenty (20) business days of the date of termination or
such earlier time as is requested by the Company and an opinion to the Executive that he has substantial authority not to report any excise tax on his Federal income tax return with respect to any Payments. Any such determination by the Accounting
Firm shall be binding upon the Company and the Executive. The Executive shall determine which and how much of the Payments shall be eliminated or reduced consistent with the requirements of this paragraph 13, provided that, if the Executive
does not make such determination within ten business days of the receipt of the calculations made by the Accounting Firm, the Company shall elect which and how much of the Payments shall be eliminated or reduced consistent with the requirements of
this paragraph 13 and shall notify the Executive promptly of such election. Within five business days thereafter, the Company shall pay to or distribute to or for the benefit of the Executive such amounts as are then due to the Executive
under this Agreement. All fees and expenses of the Accounting Firm incurred in connection with the determinations contemplated by this paragraph 13 shall be borne by the Company. 

(c) As a result of the uncertainty in the application of Section 280G of the Code at the time of the initial determination by the
Accounting Firm hereunder, it is possible that Payments will have been made by the Company which should not have been made (“Overpayment”) or that additional Payments which will not have been made by the Company could have
been made (“Underpayment”), in each case, consistent with the calculations required to be made hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against
the Executive which the Accounting Firm believes has a high probability of success, determines that an Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the benefit of the Executive shall be treated for all
purposes as a loan ab initio to the Executive which the Executive shall repay to the Company together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no such loan shall be
deemed to have been made and no amount shall be payable by the Executive to the Company if and to the extent such deemed loan and payment would not either reduce the amount on which the Executive is subject to tax under Section 1 and
Section 4999 of the Code or generate a refund of such taxes. In the event that the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be
promptly paid by the Company to or for the benefit of the Executive together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth in
the Preamble hereto. 
  

			
	 TTM TECHNOLOGIES, INC.

		
	 By:
		  

		
	 Name:
		  

		
	 Title:
		  

	
	  

	
	 <Executive’s Name>

 APPENDIX I 

DEFINITIONS 
 (a)
“Accrued Compensation” means an amount including all amounts earned or accrued through the Date of Termination but not paid as of the Date of Termination including (i) Base Salary, (ii) reimbursement for reasonable
and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Date of Termination, (iii) vacation and sick leave pay (to the extent provided by Company policy or applicable law), and
(iv) incentive compensation (if any) earned in respect of any period ended prior to the Date of Termination. It is expressly understood that incentive compensation shall have been “earned” as of the time that the conditions to such
incentive compensation have been met, even if not calculated or payable at such time. 
 (b) “Affiliate” shall have the
meaning set forth in Rule 12b-2 of the regulations promulgated under the Securities Exchange Act of 1934, as amended. 
 (c)
“Agreement” means this Executive Change in Control Severance Agreement, as set forth in the Preamble hereto. 
 (d)
“Applicable Benefit Plan” means any written employee benefit plan in effect and in which the Executive participates as of the time of the termination of his or her employment. 

(e) “Base Salary” means the Executive’s annual base salary at the rate in effect during the last regularly
scheduled payroll period immediately preceding the occurrence of the Change in Control or termination of employment and does not include, for example, bonuses, overtime compensation, incentive pay, fringe benefits, sales commissions or expense
allowances. 
 (f) “Benefits” means the benefits for the Executive and/or the Executive’s family that are being
provided to the Executive and/or the Executive’s family immediately prior to the Date of Termination, including the welfare benefit plans, practices, policies and programs provided by the Company (including, without limitation, medical,
prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) and, if applicable, car allowance, as set forth in Section 4 hereof. 

(g) “Board” means the Board of Directors of the Company, as set forth in the Recitals hereto. 

(h) “Cause” means any of the following: 

(i) the charging or indictment of the Executive or the Executive’s conviction of, or entry of a plea of no contest with respect to, any
felony or any crime involving moral turpitude; 
 (ii) the commission by the Executive of any other material act of fraud or intentional
dishonesty with respect to the Company or any of its Subsidiaries or Affiliates; 
 (iii) a material breach by the Executive of his or her
fiduciary duties to the Company or any of its Subsidiaries. including the commission by the Executive of an act of fraud or embezzlement against the Company or any of its Subsidiaries or Affiliates; 

(iv) failure by the Executive to perform in a material manner his or her properly assigned duties after at least one written warning
specifically advising him or her of such failure and providing him or her with l0 days to resume performance in accordance with his or her assigned duties; 

(v) any breach by the Executive of any of the material terms of (A) this Agreement, or (B) any other agreement between the Company
and the Executive; 
 (vi) the association, directly or indirectly, of the Executive, for his or her profit or financial benefit, with any
person, firm, partnership, association, entity or corporation that competes, in any material way, with the Company; 
 (vii) the disclosing
or using of any material Company Information at any time by the Executive; or 
 (viii) any material breach of a Company policy. 

(i) “Change in Control” shall be deemed to occur upon the consummation of any of the following transactions: 

 (i) a merger or consolidation in which the Company is not the surviving entity, except for a
transaction the principal purpose of which is to change the state of the Company’s incorporation or a transaction in which 50% or more of the surviving entity’s outstanding voting stock following the transaction is held by holders who held
50% or more of the Company’s outstanding voting stock prior to such transaction; or 
 (ii) the sale, transfer or other disposition of
all or substantially all of the assets of the Company; or 
 (iii) any reverse merger in which the Company is the surviving entity, but in
which 50% or more of the Company’s outstanding voting stock is transferred to holders different from those who held the stock immediately prior to such merger; or 

(iv) the acquisition by any person (or entity), directly or indirectly, of 50% or more of the combined voting power of the outstanding shares
of Common Stock. 
 (j) “Code” means the Internal Revenue Code of 1986, as amended. 

(k) “Common Stock” means common stock, par value $0.001, of the Company. 

(l) “Company” means TTM Technologies, Inc., a Delaware corporation, as set forth in the Preamble hereto, and any
successors or assigns. 
 (m) “Date of Termination” means (i) if the Executive’s employment is terminated
for Cause, the date of receipt by the Executive of written notice from the Board or the Chief Executive Officer that the Executive has been terminated, or any later date specified therein, as the case may be, (ii) if the Executive’s
employment is terminated by the Company other than for Cause, death or Long-Term Disability, the date specified in the Company’s written notice to the Executive of such termination, (iii) if the Executive’s employment is terminated by
reason of the Executive’s death or Long-Term Disability, the date of such death or the effective date of such Long-Term Disability, (iv) if the Executive’s employment is terminated by Executive’s resignation that constitutes
Involuntary Termination under this Agreement, the date of the Company’s receipt of the Executive’s notice of termination or any later date specified therein. 

(n) “Effective Date” means the date set forth in the Preamble hereto. 

(o) “Executive” means the individual identified in the Preamble hereto. 

(p) “Good Reason” means, without the consent of the Executive, any of the following: (i) a material diminution in
the Executive’s Base Salary; (ii) a material diminution in the Executive’s authority, duties, or responsibilities; (iii) the Company’s requiring the Executive to be based at any office or location more than fifty
(50) miles from the location of employment as of the date of this Agreement, except for travel reasonably required in the performance of the Executive’s responsibilities; or (iv) any other action or inaction that constitutes a
material breach by the Company of any employment agreement under which the Executive provides services. The Executive’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any circumstance
constituting Good Reason hereunder. A termination by the Executive shall not constitute termination for Good Reason unless the Executive shall first have delivered to the Company, within 90 days of the occurrence of the first event giving rise
to Good Reason, written notice setting forth with specificity the occurrence deemed to give rise to a right to terminate for Good Reason, and there shall have passed a reasonable time (not less than 30 days and not more than 60 days) within which
the Company may take action to correct, rescind or otherwise substantially reverse the occurrence supporting termination for Good Reason as identified by the Executive. The Executive’s separation for Good Reason must occur within two years
following the initial occurrence of an event giving rise to Good Reason. In the event of a separation following such two-year period, no “Good Reason” shall be deemed to exist. 

(q) “Involuntary Termination” means the termination of the Executive’s employment with the Company: 

(i) by the Company without Cause during a Pending Change in Control or within 12 months following a Change in Control, or 

(ii) by the Executive for Good Reason within 12 months following a Change in Control. 

(r) “Long-Term Disability” is defined according to the Company’s insurance policy regarding long-term disability
for its employees. 

 (s) “Option” means an option to purchase a share of Common Stock, which
may include vesting and/or conditions, subject to an award agreement pursuant to an equity plan of the Company. 
 (t) “Pending
Change in Control” means that one or more of the following events has occurred and a Change in Control pursuant thereto is reasonably expected to be effected within 90 days of the date as of the determination as to whether there is a
Pending Change in Control: (i) the Company executes a letter of intent, term sheet or similar instrument with respect to a transaction or series of transactions, the consummation of which transaction(s) would result in a Change in Control;
(ii) the Board approves a transaction or series of transactions, the consummation of which transaction(s) would result in a Change in Control; or (iii) a person makes a public announcement of tender offer for the Common Stock, the
completion of which would result in a Change in Control. A Pending Change in Control shall cease to exist upon a Change in Control. 
 (u)
“PRUs” mean RSUs granted by the Company which are subject to performance-based vesting and/or other conditions, which PRUs are subject to an award agreement pursuant to an equity plan of the Company. 

(v) “Restricted Stock” means Common Stock issued by the Company with vesting restrictions and subject to an award
agreement pursuant to an equity plan of the Company. 
 (w) “RSUs” mean restricted stock units granted by the
Company pursuant to which the Company has agreed to issue Common Stock upon the satisfaction of vesting and/or other conditions, which RSUs are subject to an award agreement pursuant to an equity plan of the Company. 

(x) “Subsidiary” when used with respect to any Person means any other Person, whether incorporated or unincorporated, of
which (i) more than 50% of the securities or other ownership interests or (ii) securities or other interests having by their terms ordinary voting power to elect more than 50% of the board of directors or others performing similar
functions with respect to such corporation or other organization, is directly owned or controlled by such Person or by any one or more of its Subsidiaries. 

(y) “Target Bonus” means an amount equal to the annual bonus that the Executive would have been eligible to receive
for the Company’s fiscal year in which the Executive’s employment terminates, assuming the achievement of 100% of the performance target level(s) associated with such bonus. 

 APPENDIX II 

FORM OF RELEASE 
 [DATE] 

[INSERT NAME] 
 [ADDRESS] 

[CITY], [STATE] [ZIP] 
 Dear
                    : 
 Reference is
made to the Executive Change in Control Severance Agreement (“Agreement”) between TTM Technologies, Inc. (the “Company”) and you dated
                    , 20        . This letter serves to document our mutual understanding regarding the terms
of your severance payment as a result of the Involuntary Termination of your employment as defined in the Agreement. Provided that you execute this letter and Attachments A, Release and Covenant Not to Sue) prior to the expiration of twenty-two
(22) days after the date hereof and you do not subsequently revoke the Release and Covenant Not to Sue set forth in Attachment A hereto the Company shall, as severance pay, pay you a lump sum amount of
$            , subject to applicable state and federal government tax payroll withholdings,
                    . 
 Please
understand that execution of this letter and the Release and Covenant Not to Sue (attachment A hereto), shall not be considered as an admission by you or the Company of any liability whatsoever; or as an admission by the Company of any violation of
your rights or of any other person or of any order, law, statute, or duty; or as an admission by you of any violation of rights of the Company or of any other person or of any order, law, statute or duty. 

As a condition precedent to the receipt of consideration pursuant to the Agreement and the Release and Covenant Not to Sue, you are required
to return all items of Company property that you have in my possession or over which you have control, including, but not limited to, any equipment belonging to the Company, all code and computer programs, and information of whatever nature, as well
as any other materials, keys, pass codes, access cards, credit cards, computers, cellular telephones, facsimile machines, copiers, phones, documents or information, including, but not limited to, trade secrets or confidential information of the
Company in your possession or control. Further, you shall not retain copies thereof, including electronic copies and represent that you have not destroyed information or documents belonging to the Company, except for documents routinely deleted,
copies of which have already been provided to the Company. 
 You are to maintain the terms of the Agreement and the Release and Covenant
Not to Sue as confidential and neither you, nor any person or entity acting on your behalf, shall disclose any such terms of said documents and the terms contained therein to any third party, without the written consent of the Company, unless and
only to the extent that (a) such disclosure is required by law, or (b) such terms become generally available to the public without any breach of the letter and its attachments by you: provided, however, that you may disclose the terms of
the letter and its attachments to your legal, business and financial advisors, but not only to the extent such disclosure is necessary for such persons to render professional services in connection therewith, and provided that prior to disclosure to
any such persons, such persons shall be furnished a copy of this Section of this Attachment A and shall agree to be bound hereby for the benefit of the Company. 

 Very Truly Yours, 

Agreed and accepted: 
 [INSERT NAME] 

 

											
									TTM Technologies, Inc.
						
	 Date:
		  
						By:		  

						
									Title:		  

						
									Date:		  

 ATTACHMENT A TO APPENDIX II: 

RELEASE AND COVENANT NOT TO SUE 
 1.
Release. I, [INSERT NAME], do hereby release and discharge TTM Technologies, Inc., its affiliates and subsidiaries, and each of their stockholders, officers, directors, members, managers, partners, employees, representatives, agents
and affiliates (collectively, the “Employer Affiliates”, and each an “Employer Affiliate”) from any and all claims, demands or liabilities whatsoever, whether known or unknown or suspected to exist by me, which I ever had or may
now have against any Employer Affiliate, from the beginning of time to the “Effective Date” of this Release which is the date I execute this Release including, without limitation, any claims, demands or liabilities in connection with my
employment, including wrongful termination, constructive discharge, breach of express or implied contract, unpaid wages, benefits, attorneys fees or pursuant to any federal, state, or local employment laws, regulations, or executive orders
prohibiting inter alia, age, race, color, sex, national origin, religion, handicap, veteran status, and disability discrimination, including, without limitation, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, as
amended by the Civil Rights Act of 1991, the Civil Rights Act of 1866, the Employee Retirement Income Security Act of 1974, the California Fair Employment and Housing Act, the Prudence Kay Poppink Act, the California Family Rights Act, the Fair
Labor Standards Act, any state statute relating to employee benefits or pensions, and the Americans with Disabilities Act of 1990. This Release does not waive rights or claims that may arise after the Effective Date. I fully understand that if any
fact with respect to which this Release is executed is found hereafter to be other than or different from the facts in that connection believed by me to be true, I expressly accept and assume the risk of such possible difference in fact and agree
that the release set forth herein shall be and remain effective notwithstanding such difference in fact. I acknowledge and agree that no consideration other than as provided for by the letter to which this release is an attachment has been or will
be paid or furnished by any Employer Affiliate. I expressly acknowledge and agree that, by entering into this Release, I waive any and all rights or claims that I may have arising under the Age Discrimination in Employment Act of 1967, as amended,
which have arisen on or before the date of execution of this Release. I also understand that the above release is subject to the terms of the Older Workers Benefit Protection Act (“OWBPA”). The OWBPA provides that an individual cannot
waive a right or claim under the Age Discrimination in Employment Act (“ADEA”) unless the waiver is knowing and voluntary. I agree that I am signing this Release voluntarily, and with full knowledge of its consequences. I further expressly
acknowledge and agree that: 
  

	 	(a).	In return for this Release, I will receive consideration beyond that to which I was entitled to receive before entering into the Release; 

 

	 	(b).	I am hereby advised in writing by the Agreement to consult with an attorney before signing the Agreement; 

  

	 	(c).	I was given a copy of the Release on [ insert date ], and informed that I have twenty-one (21) days within which to consider the Agreement and that if I sign this Release before the end of the 21 day period it will
be his personal, voluntary decision to do so, and will be done with full knowledge of his legal rights; and 

  

	 	(d)	I was informed that I have seven (7) days following the date of execution of this Release in which to revoke this Release. 

I agree that material or immaterial changes to this Release will not restart the running of the consideration period. 

2. Covenant Not to Sue. I covenant and agree never, individually or with any person or in any way, to commence, aid in any way, prosecute or cause or
permit to be commenced or prosecuted against any Employer Affiliate any action or other proceeding, including, without limitation, an arbitration or other alternative dispute resolution procedure, based upon any claim, demand, cause of action,
obligation, damage, or liability that is the subject of this letter (including its attachments). I represent and agree that I have not and will not make or file or cause to be made or filed any claim, charge, allegation, or complaint, whether
formal, informal, or anonymous, with any governmental agency, department or division, whether federal, state or local, relating to any Employer Affiliate in any manner, including without limitation, any Employer Affiliate’s business or
employment practices. I waive any right to monetary recovery should any administrative or governmental agency or entity pursue any claim on my behalf. 

 3. Exclusions from Release. 
  

	 	(a)	By signing this Release, I do not release my rights, if any, to claim the following: unemployment insurance benefits; workers compensation benefits; claims for vested post-termination benefits under any 401(k) or
similar retirement benefit plan; rights to group medical or group dental insurance coverage pursuant to section 4980B of the Internal Revenue Code of 1986, as amended (“COBRA”); rights to enforce the terms of this Release; rights to assert
claims that are based on events occurring after this Release becomes effective; rights to indemnification under California law and/or any contract for indemnification between me and the Employer Affiliates; or my rights as a shareholder of the
Company. 

  

	 	(b)	Nothing in this Release interferes with my right to file or maintain a charge with the Equal Employment Opportunity Commission (“EEOC”) or other local civil rights enforcement agency, or participate in any
manner in an EEOC or other such agency investigation or proceeding. I however, understand that I am waiving my right to recover individual relief including, but not limited to, back pay, front pay, reinstatement, attorneys’ fees, and/or
punitive damages, in any administrative or legal action whether brought by the EEOC or other civil rights enforcement agency, me, or any other party, arising from the termination of his employment. 6+47 

 

	 	(c)	Nothing in this Release interferes with my right to challenge the knowing and voluntary nature of this Release under the ADEA and/or OWBPA. 

4. Revocation Period. I understand that I may revoke this Release in its entirety during the seven (7) calendar days following his execution of
the Release. Any revocation of this Release must be in writing and hand-delivered to the Employer Affiliate or, if sent by mail, postmarked within the applicable time period, sent by certified mail, return receipt requested, and addressed to:
[insert name and address]. This Release will become effective and enforceable on the eighth (8th) day following my execution, unless it is revoked during the seven-day revocation period. I
understand that if I revoke this Release, the Employer Affiliate will have no obligation to pay the consideration referenced in the Agreement. 
 5.
Waiver. I acknowledge that California Civil Code § 1542 states: 
 A general release does not extend to claims which the creditor
does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 

Notwithstanding California Civil Code § 1542, I enter into this full waiver and release as set forth above and waive all rights or defenses under §
1542 of the California Civil Code. 
 6. Important General Provisions. If any provisions of this Release is held to be invalid or unenforceable by a
court of competent jurisdiction, such invalidity or unenforceability shall not affect the validity and enforceability of the other provisions thereof, and the provision held to be invalid or unenforceable shall be enforced as nearly as possible
according to its original terms and intent to eliminate such invalidity or unenforceability. This Release shall be governed by, and construed and enforced in accordance with, the laws of the State of California 

7. Binding Arbitration. Any controversy or claim arising out of or relating to the Agreement this Release, or the alleged breach of either, shall be
settled by binding arbitration to be held in the County of Orange in the State of California before a mutually agreed upon neutral arbitrator and according to the American Arbitration Association rules of arbitration. 

8. Right to Consult Attorney. I ACKNOWLEDGE THAT I HAVE BEEN ADVISED, IN WRITING, TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THIS RELEASE. 

 

			
	  

	[EXECUTIVE]		

			
		
	Date:		
			  

 SCHEDULE TO 

FORM OF EXECUTIVE CHANGE IN CONTROL SEVERANCE AGREEMENT 

The form of Executive Change in Control Severance Agreement was entered into with the following persons: 

 

					
	 Name
	  	 Title
	  	 Effective Date of Agreement

	Canice Chung	  	Executive Vice President and President—Asia Pacific Business Unit	  	July 31, 2014
			
	Thomas T. Edman	  	President and Chief Executive Officer	  	July 30, 2014
			
	Dale Knecht	  	Senior Vice President—Global Information Technology	  	July 30, 2014
			
	Shawn Powers	  	Senior Vice President—Human Resources	  	March 11, 2015
			
	Todd B. Schull	  	Executive Vice President, Chief Financial Officer, Treasurer and Secretary	  	July 30, 2014
			
	Douglas L. Soder	  	Executive Vice President and President—North America Business Unit	  	July 30, 2014

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