Document:

Employment Agreement between Jane Todd and SMTC Corporation

 Exhibit 10.35 
 EMPLOYMENT AGREEMENT 
 Employment Agreement
made as of the 30th day of March, 2007. 
 BETWEEN : 
  

			
		  	SMTC Manufacturing Corporation, a corporation incorporated under the laws of Ontario, Canada;
		
		  	(hereinafter called the “Corporation”)
		
		  	- and -
		
		  	Jane Todd,
		
		  	(hereinafter called the “Executive”)

 WHEREAS the Executive is currently a Senior Vice President Finance, Chief Financial
Officer; 
 AND WHEREAS the Corporation and the Executive wish to enter into a written employment agreement with respect to the
compensation to be paid to the Executive and other matters relating to her employment with the Corporation; 
 NOW THEREFORE in
consideration of the mutual covenants and agreements contained herein, the Corporation and the Executive hereby agree as follows: 
 ARTICLE 1 – TERM, POSITION AND DUTIES 
 1.1 Term. The employment commenced on July 5, 2004. 
 1.2 Position. The Executive shall serve as the Senior Vice President Finance, Chief Financial Officer of the Corporation. The Executive shall be based out of the
Corporation’s head offices located in Markham, Ontario. 
 1.3 Duties. The Executive shall perform such duties as are regularly and customarily
performed by the chief financial officer of a public corporation and in particular shall be responsible for leadership of the company-wide finance function. The Executive shall report directly to the President and Chief Executive Officer of the
Corporation. 
 ARTICLE 2 - THE EXECUTIVE’S OBLIGATIONS 
 2.1 Full Time and Effort. Throughout her term of employment, the Executive shall devote her full time, effort and attention to the affairs of the Corporation and its Affiliates (the “Business”). The
Executive shall not, without the prior approval of the President and Chief Executive Officer, accept any other employment or serve as a director, consultant or partner of any 

 
business or profit making enterprise or entity other than the Corporation and its Affiliates (the term “Affiliate” in this Agreement shall have the
meaning ascribed thereto in the Business Corporations Act - Ontario) except in the capacity of an investor of money and so long as such monetary investment does not require any active involvement or otherwise affect the conduct of the
Executive’s duties and responsibilities of employment as set forth in this Agreement. 
 2.2 Non-Solicitation. During her employment with the
Corporation or any of its Affiliates, and during the eighteen (18) month period immediately following the cessation of the Executive’s employment for any reason whatsoever (with or without cause), the Executive will not, without the prior
written consent of the Board: 
  

	 	(a)	canvass or solicit or endeavour to canvass or solicit whether directly or indirectly, any customer or prospective customer in Canada or the United States of America
(“U.S.A.”) in which the Corporation or any of its Affiliates is selling or providing products or services at the time the Executive ceases to be an employee of the Corporation for the purpose of selling to that customer any products
or services which are the same or substantially similar to products or services sold by the Corporation or any of its Affiliates; or 

  

	 	(b)	Entice, solicit or endeavour to entice or solicit any officer, employee, contractor, agent or consultant of the Corporation or any of its Affiliates away from employment with or
engagement by the Corporation or any of its Affiliates, whether or not such person would commit a breach of contract by reason of leaving such service. 

 For the purposes of this Section, “customer” shall mean any person to whom the Corporation or any of its Affiliates sells or provides products or services at the time the Executive ceases to be an employee,
or within six (6) months prior thereto, or with whom the Corporation or any of its Affiliates is in negotiation at the time the Executive’s employment is terminated, with a view to selling or providing goods or services to such person.

 2.3 Non-Disclosure of Confidential Information. The Executive acknowledges that, in the course of performing and fulfilling her duties and
obligations she will have access to, and will continue to be entrusted with, confidential information concerning the activities, business operations, customers and clients of the Corporation and its Affiliates which information is not generally
known in the industry in which the Corporation and its Affiliates do business (“Confidential Information”) and that the disclosure of any Confidential Information to competitors of the Corporation and any of its Affiliates or to other
persons would be highly detrimental to the interests of the Corporation and its Affiliates. Confidential Information does not include information that is and/or becomes generally available to the public other than due to a breach of this Agreement.
The Executive further acknowledges and agrees that the right to maintain confidential such Confidential Information is a proprietary right that the Corporation is entitled to protect. Accordingly, the Executive covenants and agrees with the
Corporation that (i) she will not during her employment by the Corporation or any of its Affiliates disclose any such Confidential Information to any person, nor shall she use the same, except as required in the normal course of her employment
by the Corporation or any of its Affiliates and (ii) after the termination or expiration of her employment by the Corporation or any of its Affiliates, she will not disclose or make any use of Confidential Information without the consent of the
Corporation and its Affiliates. 
  

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 2.4 Acknowledgement and Agreement. The Executive acknowledges that the restrictive covenants contained in this
Article 2 above have been considered by the Executive and that the restraints and restrictions on her future activities are reasonable in the circumstances. The Executive agrees that any breach of these provisions will result in irreparable harm
which cannot be quantified or adequately compensated by monetary damages alone. The Executive further agrees that, in addition to any other remedies at law that the Corporation may have (which other remedies the Executive acknowledges to be
inadequate to protect the Corporation’s legitimate interests), the Corporation shall be entitled to injunctive relief in the event of a breach of this Article 2. The Executive expressly waives all defences to such relief in the event of a
breach of the restrictive covenants in this Article 2. 
 2.5 Scope of Application. The foregoing restrictions shall apply to any action taken by the
Executive, directly or indirectly, alone or in concert or in partnership with others, whether as an agent, representative, principal, shareholder, lender, employee, consultant, director or in any other capacity. 
 ARTICLE 3 - COMPENSATION 
 3.1 Annual Base
Salary. The Corporation shall pay to the Executive an annual base salary (the “Base Salary”) of CDN $252,500.00, payable in equal instalments every two weeks, subject to such payroll and withholding deductions as may be required by
Canadian law. The Base Salary may be increased from time to time at the sole discretion of the Board upon recommendation of the Compensation Committee. 
 3.2 Short Term Incentive Award. The Executive shall be entitled to receive a short-term bonus award in the sole discretion of the Board and in accordance with the Corporation’s short Term Bonus Plan, as established by the Board.
The annual target bonus shall be 50% of base salary, based upon achievement on financial performance targets approved by the Board of Directors and individual performance. No Short Term Bonus shall be payable in the circumstances described in
Section 4.1 and 4.3. 
 3.3 Long Term Incentive Award. The Executive shall continue to be eligible to participate in the 2000 Equity Plan (or any
successor plan) that the Board has adopted on such terms and conditions as the Board shall determine. For greater certainty, in the event of a change of control other than that which is defined in the Plan, any unvested options that were granted
prior to the change of control, shall continue to vest in accordance with the vesting period in the Plan and the options shall expire at the earlier of the original expiration date and five years following the date of the change of control.

 3.4 Monthly Car Allowance. The Executive shall be entitled to a monthly car allowance up to a maximum of Cdn. $1,200 per month. 
  

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 3.5 Benefits. The Corporation shall provide the Executive with entitlement to the executive benefit program.

 3.6 Reimbursement of Expenses. The Executive shall be entitled to reimbursement of all reasonable business expenses incurred in good faith upon
presentation of appropriate invoices, receipts and other requested documentation. 
 3.7 Vacation. The Executive shall be entitled to four
(4) weeks paid vacation each calendar year, and in accordance with the Corporation’s vacation policy. 
 ARTICLE 4 -
TERMINATION 
 4.1 Termination for Cause. The Corporation may terminate the employment of the Executive hereunder for cause (as such term is
understood under applicable law) by giving written notice to the Executive of its intention to terminate this Agreement on the date specified in such notice (“termination date”). If the Corporation exercises its rights under this Section
to terminate the Executive’s employment hereunder, the Executive shall not be entitled to receive any further remuneration or payments of any kind or nature hereunder, including any bonus and long term incentive payments pursuant to
Section 3.2 and 3.3, from and after the termination date other than those obligations that have accrued pursuant to Article 3.1 and 3.9. 
 4.2
Termination Without Cause. The Corporation may terminate the employment of the Executive with salary continuance of the Executive’s then current annual base salary in circumstances which do not constitute cause, in which case the
Corporation shall provide the Executive with twelve (12) months plus one (1) month for every completed year of active employment beyond twelve (12) years of service (to a maximum of 18 months), provided that the Executive continues to
abide by the non-solicitation, and confidentiality provisions set out in Sections 2.2 and 2.3. If the Corporation exercises its rights under this Section 4.2 to terminate the Executive’s employment hereunder, with the exception of the
payments aforementioned in this Section 4.2, the Executive shall not be entitled to receive any further remuneration or payments of any kind or nature hereunder, save and except any vesting of options pursuant to Section 3.3 and any
relocation expenses in the event of a relocation to the United States as set out in Section 3.8. In the event that, prior to the end of the notice period, the Executive obtains alternative employment that provides total remuneration that is at
least 75% of the Executive’s total compensation as provided in Article 3, then the Corporation shall cease to provide the salary continuation but instead, shall provide the Executive with a lump sum payment, less applicable statutory
deductions, that is equivalent to 50% of the remaining salary continuation payments that the Executive otherwise would have been entitled to receive. 
 4.3 Termination by the Executive. The Executive may terminate this Agreement by notice in writing specifying the effective date of termination (not to be less than three (3) months after the date of notice). The Corporation may
elect to deem any date prior to the date specified in the notice as the effective date of termination in which event the Executive shall receive payment of her bi-weekly salary payments in accordance with Section 3.1 that would have been due
during the remainder of the notice period provided by the Executive, to a maximum of 3 months. 
  

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 4.4 Disability 
  

	 	(a)	For the purposes of this Section 4.4, “Partially or Totally Disabled” means any physical or mental incapacity, disease or affliction, as determined by a legally
qualified medical practitioner, which prevents the Executive from performing the essential duties of her position. 

  

	 	(b)	In the event that the Executive is Partially or Totally Disabled for a period of six (6) months or less, she shall receive all remuneration including bonuses, payments and
rights including, without limiting the generality of the foregoing, all benefits provided for under this Agreement, as if she were regularly and fully employed. 

  

	 	(c)	In the event that the Executive is Partially or Totally Disabled for a continuous period of more than six (6) months, the Corporation shall be entitled to terminate the
employment of the Executive by giving written notice to the Executive of its intention to terminate this Agreement on the date specified in such notice. In the event of a termination of employment under these circumstances, the Executive shall not
be entitled to receive any further remuneration or payments of any kind or nature hereunder from and after the effective date of termination of this Agreement, save and except termination and severance pay as required pursuant to the Employment
Standards Act, 2000 and continuing coverage under the Corporation’s executive benefit program. 

  

	 	(d)	For greater certainty, in the event the Executive is Partially or Totally Disabled and the Corporation terminates her employment without cause before six (6) months have
expired from the date she became totally disabled, Section 4.2 hereof shall apply. 

 4.5 Resignation. The Executive agrees that
after termination of her employment with the Corporation pursuant to this Article 4, for any reason whatsoever, she will tender her resignation from any position she may hold as an officer or director of the Corporation or any of its Affiliates,
unless otherwise agreed to by the Board and the Executive. 
 ARTICLE 5 - MISCELLANEOUS 
 5.1 Binding Agreement. This Agreement shall be binding on the parties hereto and its successors in interest and assigns. 
 5.2 Notices. Any notice or other communication required or permitted to be given or made hereunder shall be in writing and shall be sufficiently given or made if:

  

	 	(a)	enclosed in a sealed envelope and delivered in person or by courier to the party hereto to whom it is addressed (or, in the case of the Corporation, to the receptionist or other
responsible employee) at the relevant address set forth below; or 

  

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	 	(b)	telexed, telegraphed, telecopied or sent by other means of recorded electronic communication; 

 if to the Corporation, addressed to: 
 SMTC -
Headquarters 
 635 Hood Road 
 Markham, Ontario L3R 4N6 Canada 
 Attention: President and Chief Executive Officer 
 with a copy to: 
 Goodmans, LLP 
 250 Yonge Street, Box 24 
 Toronto, Ontario

 M5B 2M6 
 Attention: Celia Rhea

 Telecopy: (416) 979-1234 
 and if to the Executive, addressed to: 
 Jane Todd 
 153 Willis Drive 
 Aurora, ON 
 L4G 7M4 
 Any notice or other communication so given or made shall be deemed to have been given or made and
to have been received on the day of delivery, if delivered in person or by courier, and on the day of sending, if sent by telex, telegraph, telecopy or other means of recorded electronic communication (provided such delivery or sending is during
normal business hours on a business day and, if not, then on the first business day thereafter). Any party hereto may change her or its address for notice by notice to the other party hereto given in the manner aforesaid. 
 5.3 Modification and Waivers. No provision of this Agreement may be modified or amended unless such modification or amendment is agreed to in writing and signed
by the Corporation and the Executive. No waiver by either party hereto of any breach by the other party hereto of any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the time or any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the employment of the Executive by the Corporation have been made by any party which are
not set forth expressly in this Agreement. 
  

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 5.4 Entire Agreement. This Agreement contains all the terms and conditions of the Executive’s employment with
the Corporation and supersedes all prior agreements and understandings. 
 5.5 Law Governing. This Agreement shall be subject to and governed by the
laws of the Province of Ontario. The Executive agrees that she can only enforce this Agreement in the Courts of the Province of Ontario (or the Courts of the location of the Corporation’s head office). The Corporation may enforce this Agreement
in any jurisdiction in which the Executive lives or carries on business. 
 5.6 Severability. The invalidity, illegality or unenforceability of any
provision hereof shall not in any way affect or impair the validity, legality or enforceability of the remaining provisions hereof. 
 5.7 Headings.
The headings contained herein are for reference purposes only and shall not in any way affect the construction or interpretation of this Agreement. 
 5.8
Independent Advice. The Executive confirms having had the opportunity to obtain independent legal advice regarding this Agreement and that the Executive is signing this Agreement freely and voluntarily with full understanding of its contents.

 5.9 Successors. This Agreement and all rights of the Executive hereunder shall enure to the benefit of and be enforceable by the Executive and her
personal or legal representatives, heirs, executors, administrators and successors and shall enure to the benefit of and be binding upon the Corporation, its successors and assigns. 
 5.10 Taxes. All payments under this Agreement shall be subject to withholding of such amounts, if any, relating to tax or other payroll deductions as the Corporation may reasonably determine and should withhold
pursuant to any applicable law or regulation. 
 5.11 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to
be an original but all of which together shall constitute one and the same instrument. 
  

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 IN WITNESS WHEREOF the parties have
executed this Agreement this 30th day of March, 2007 with effect as of the date first above written. 
  

									
		 		 	SMTC Manufacturing Corporation
					
		 		 		 	Per:	 	/s/ John Caldwell
		 		 		 		 	Authorized Signing Officer

  

					
			
	   	 		 	/s/ Jane Todd
	Witness	 		 	Jane ToddDeferred Share Units Agreement

 Exhibit 10.43 
 SMTC MANUFACTURING CORPORATION OF CANADA 
 DEFERRED SHARE UNITS 
 AGREEMENT 
 In recognition of the
important contributions that John Caldwell (the “Executive”) can make to the success of SMTC Corporation and its Affiliates, SMTC Manufacturing Corporation of Canada (the “Corporation”) hereby grants to the Executive the deferred
share units award described below. 
 1. The Deferred Share Unit Award. The Corporation hereby grants to the Executive Thirty-six
thousand four hundred twenty five (36,425) Units (the “Award”). A “Unit” is an amount equal to the Fair Market Value (as defined below) of a single share of Common Stock (as defined below) on the Grant Date (as defined below).

 a. The Executive is not entitled to any dividends payable on the Common Stock. 
 b. The Award shall not be interpreted to bestow upon the Executive any equity interest or ownership in the Corporation or any Affiliate.

 c. The Executive acknowledges that the Board of Directors of SMTC Corporation shall continue to manage SMTC Corporation as
such Board of Directors deems appropriate, and that such Board of Directors is under no obligation to manage SMTC Corporation or take any action so as to maximize the value of the Award or avoid any diminution in value of the Award. 
 d. The Board of Directors, in its sole discretion, may make additional grants of Units to the Executive from time to time. 
 2. Definitions. The following definitions will apply for purposes of this Agreement. 
 a. “Affiliate” of any person means (a) any other person directly or indirectly owning, controlling, or holding with power
to vote, five percent or more of the outstanding voting securities of such person, (b) any person five percent or more of whose outstanding voting securities are directly or indirectly owned, controlled or held with power to vote, by such
person and (c) any other person directly or indirectly controlling, controlled by, or under common control with, such person. 
 b. “Board of Directors” means the board of directors of SMTC Corporation. 
 c. “Cause” shall
have the meaning as set forth in section 4.8 of the Employment Agreement. 

 d. “Common Stock” means a share of common stock, $0.01 par value per share, of
SMTC Corporation. 
 e. “Employment Agreement” means the employment agreement between the Corporation and the
Executive, dated February 7, 2004. 
 f. “Fair Market Value” means the closing price of the Common Stock for
the day immediately preceding the Payment Date; provided, that if such day is not a trading day, fair market value shall mean the closing price of the Common Stock for the next preceding day which is a trading day. For this purpose, the
“closing price” of the Common Stock on any trading day will be the last sale price with respect to such Common Stock, or, in case no such sale takes place on such day, the average of the high bid and low asked prices in the
over-the-counter market with respect to such Common Stock, as reported by the National Association of Securities Dealers, Inc. Automated Quotation System or such other similar system then in use; or, if on any such date such Common Stock is not
quoted by any such organization, the average of the closing bid and asked prices with respect to such Common Stock, as furnished by a professional market maker making a market in such Common Stock selected by the Board of Directors of SMTC
Corporation in good faith; or, if no such market maker is available, the fair market value of such Common Stock as of such day as determined in good faith by the Board of Directors of SMTC Corporation. 
 g. “Grant Date” means the date on which this Agreement was executed as indicated on the signature page hereof. 
 h. “Payment Date” means a date determined by the Board of Directors in its sole discretion that is within sixty (60) days
of the occurrence of a Termination Event, subject to adjustment pursuant to Sections 5b and 6 hereof. 
 i. “Termination
Event” means the Executive’s termination of employment by reason of death, disability, voluntary resignation with the Corporation and its Affiliates or termination of employment by the Corporation or its Affiliates other than for Cause.

 3. Vesting. Subject to Section 5b, the entire Award shall be fully vested on the Grant Date. 
 4. Adjustments Based on Certain Changes in the Common Stock. In the event of any stock split, reverse stock split, stock dividend,
recapitalization or similar change affecting the Common Stock, the Award shall be equitably adjusted. 
 5. Termination of Employment.
On the Payment Date, the Corporation shall pay to the Executive the Fair Market Value of the Award in a single cash lump sum payment. 
 6.
Change of Control. In the event that of a Change of Control (as defined in Section 4.4 of the Employment Agreement), a Termination Event will be deemed to have occurred on the date of the closing of the Change of Control (or series of
transactions constituting the Change of Control), and the Payment Date shall be adjusted to be ten (10) days after such closing date. 

 7. Determination by the Board of Directors. Any determination by the Board of Directors in its
reasonable discretion concerning any provision hereto shall be binding upon the Corporation, SMTC Corporation, and the Executive. 
 8.
Designation of Beneficiary. The Executive may designate or change the designation of a beneficiary or beneficiaries to receive any payment due hereunder upon his death by filing a written designation with the Corporation. The Corporation
shall be bound by the last designation filed with it by the Executive. In the absence of such designation of a beneficiary by the Executive, or if no beneficiary so designated shall survive him, the Executive’s beneficiary shall be his or her
estate. Any amounts due hereunder payable to the beneficiary or beneficiaries shall be made on the same terms and shall be subject to the same conditions as if such amounts were paid to the Executive. 
 9. Employment Rights. This Deferred Share Units Agreement shall not create any right of the Executive to continued employment with the Corporation
or its Affiliates or limit the right of Corporation or its Affiliates to terminate the Executive’s employment at any time and shall not create any right of the Executive to employment with the Corporation or any of its Affiliates. Except to the
extent required by applicable law that cannot be waived, the loss of the Award shall not constitute an element of damages in the event of termination of the Executive’s employment even if the termination is determined to be in violation of an
obligation of the Corporation or its Affiliates to the Executive by contract or otherwise. 
 10. Unfunded Status. The obligations of
the Corporation and its Affiliates hereunder shall be contractual only and all such payments shall be made from the general assets of the Corporation or its Affiliates. The Executive shall rely solely on the unsecured promise of the Corporation and
nothing herein shall be construed to give the Executive or any other person or persons any right, title, interest or claim in or to any specific asset, fund, reserve, account or property of any kind whatsoever owned by the Corporation or any
Affiliate. 
 11. No Assignment. No right or benefit or payment under the Plan shall be subject to assignment or other transfer nor
shall it be liable or subject in any manner to attachment, garnishment or execution. 
 12. Withholding. The Corporation and its
Affiliates shall have the right to withhold from any payment made under this Deferred Share Units Agreement any U.S., Canadian, state, provincial, local or other taxes required by law to be withheld with respect to the payment. 
 13. Amendment or Termination. This Deferred Share Units Agreement may be amended by mutual written agreement of the parties; provided, however,
that the Corporation may in its sole discretion deem a Termination Event to have occurred, terminate this Deferred Share Units Agreement and accelerate the payment of benefits hereunder. 

 IN WITNESS WHEREOF, SMTC Manufacturing Corporation of Canada has
executed this Deferred Share Units Agreement as of the 30th day of March, 2007. 
  

			
	SMTC MANUFACTURING CORPORATION OF CANADA
		
	By:	 	/s/ Stephen Adamson
	Title:	 	Chairman of Compensation Committee

 Acknowledged and agreed: 
  

	
	
	/s/ John Caldwell
	John Caldwell

  

			
	SMTC CORPORATION
		
	By:	 	/s/ Stephen Adamson
	Title:	 	Chairman of Compensation Committee

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