Document:

Officer's Certificate Pursuant to Section 301 of the Indenture

 Exhibit 4.3 
  

OFFICERS’ CERTIFICATE OF 
 NATIONWIDE
HEALTH PROPERTIES, INC. 
  
 May 18, 2005 
  
 We, Douglas M. Pasquale and David Snyder, do hereby certify that we are the
duly elected President and Chief Executive Officer and Controller and Assistant Secretary, respectively, of Nationwide Health Properties, Inc., a Maryland corporation (the “Company”). We further certify that, pursuant to resolutions of the
Special Pricing Committee of the Board of Directors duly adopted by an action by unanimous written consent dated May 11, 2005, a series of Securities of the Company, titled “6.00% Notes due 2015” (referred to herein as the
“Securities”) was established pursuant to Section 301 of the Indenture (the “Original Indenture”), dated as of January 13, 1999, as supplemented and amended by the First Supplemental Indenture (the “First Supplement
Indenture”), dated as of May 18, 2005, each between the Company and J.P. Morgan Trust Company, National Association (formerly Chase Manhattan Bank and Trust Company), a national banking association duly organized and existing under the laws of
the United States, as trustee (the “Trustee”). 
  
 We
further certify that, pursuant to the resolutions of the Special Pricing Committee of the Board of Directors duly adopted by an action by unanimous written consent dated May 11, 2005, and attached hereto as Annex A, the series of Securities was
thereby created; and that said series has the following terms and provisions: 
  

	 	(i)	the title of such series of Securities shall be “6.00% Notes due 2015”; 

  

	 	(ii)	the Securities of such series which may be authenticated and delivered under the Indenture shall be limited to $250,000,000 aggregate principal amount (except for Securities
authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of, other Securities pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture); provided, however, that such series may be reopened by the Company
for the issuance of additional Securities of such series, so long as any such additional Securities have the same form and terms (other than the date of issuance and the date from which interest thereon shall begin to accrue), and carry the same
right to receive accrued and unpaid interest, as the Securities of such series theretofore issued; provided, however, that, notwithstanding the foregoing, such series may not be reopened if the Company has effected defeasance or covenant defeasance
with respect to the Securities of such series pursuant to Section 1302 and 1303, respectively, of the Indenture or has effected satisfaction and discharge with respect to the Securities of such series pursuant to Section 401 of the Indenture;

  

	 	(iii)	 the Securities of such series are to be issuable only as Registered Securities without coupons and may, but need not, bear a corporate seal. The Securities of such
series shall initially be issued in book entry form and represented by one or more permanent Global Securities of such series, the initial depositary (the “Depositary”) for the Global Securities of such series shall be The Depository Trust
Company and the depositary arrangements shall be those employed by whoever shall be the Depositary with respect to the Global Securities of such series from time to time. Notwithstanding the foregoing, certificated Securities of such series in
definitive form may be issued in exchange for 

  

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Global Securities of such series under the circumstances contemplated by Section 305 of the Indenture; 

  

	 	(iv)	the Securities of such series shall be sold by the Company to J.P. Morgan Securities Inc., as representative of the several underwriters named in the Underwriting Agreement dated
May 11, 2005, at a price equal to 97.119% of the principal amount thereof and the initial price to public of the Securities of such series shall be 97.769% of the principal amount thereof, and underwriting discounts and commissions shall be 0.650%
of the principal amount thereof; 

  

	 	(v)	Securities of such series issued in the form of permanent global certificates shall be dated the date of their issuance; 

  

	 	(vi)	the final maturity date of the Securities of such series on which the principal thereof is due and payable shall be May 20, 2015; 

  

	 	(vii)	the principal of the Securities of such series shall bear interest at the rate of 6.00% per annum from May 18, 2005 or from the most recent date to which interest has been paid or
duly provided for, payable semiannually in arrears on May 20 and November 20 (each, an “Interest Payment Date”) of each year, commencing November 20, 2005, to the Persons in whose names such Securities of such series (or one or more
Predecessor Securities) are registered at the close of business on the fifteenth day immediately preceding such Interest Payment Dates (each, a “Regular Record Date”) regardless of whether such Regular Record Date is a Business Day.
Interest on the Securities of such series will be computed on the basis of a 360-day year of twelve 30-day months. If any principal of, or premium, if any, or interest on, any of the Securities of such series is not paid when due, then such overdue
principal and, to the extent permitted by law, such overdue premium or interest, as the case may be, shall bear interest until paid or until such payment is duly provided for at the rate of 6.00% per annum; 

  

	 	(viii)	no Additional Amounts shall be paid in respect of the Securities of such series; 

  

	 	(ix)	the Borough of Manhattan, The City of New York is hereby designated as the Place of Payment for the Securities; 

  

	 	(x)	principal and interest payable with respect to the Securities of such series shall be payable and Securities of such series may be surrendered for registration of transfer and
exchange at the office or agency maintained by the Company for such purpose, which shall initially be, J. P. Morgan Trust Company, National Association, Institutional Trust Window, 55 Water Street, Rm. 234, North Bldg., New York, NY 10041 and
notices or demands to or upon the Company in respect of the Securities of such series and the Indenture may be served at the office or agency maintained by the Company for such purpose, which shall initially be, J.P. Morgan Trust Company, National
Association, Institutional Trust Window, 55 Water Street, Rm. 234, North Bldg., New York, NY 10041; 

  

	 	(xi)	the Securities of such series are redeemable at any time, as a whole or from time to time in part, at the option of the Company on the terms and subject to the conditions set forth
in the Indenture and in the form of certificate evidencing the Securities which appears as Annex B to this Officers’ Certificate; 

  

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	 	(xii)	the Securities of such series shall be issued in denominations of $1,000 and integral multiples of $1,000; 

  

	 	(xiii)	the Trustee shall be the initial Security Registrar, transfer agent, Paying Agent and Authenticating Agent for the Securities of such series; 

  

	 	(xiv)	the entire outstanding principal amount of the Securities of such series shall be payable upon declaration of acceleration of the maturity of the Securities of such series pursuant
to Section 502 of the Indenture; 

  

	 	(xv)	payment of the principal of and premium, if any, and interest on the Securities of such series shall be made in Dollars and the Securities of such series shall be denominated in
Dollars. 

  

	 	(xvi)	the amount of payments of principal of and premium, if any, and interest on the Securities of such series shall not be determined with reference to an index, formula or other
similar method; 

  

	 	(xvii)	the Securities of such series will not be issuable as Bearer Securities, and a temporary global certificate will not be issued; 

  

	 	(xviii)	there are no deletions from, modifications of or additions to the Events of Default or covenants of the Company with respect to the Securities of such series, except as set forth in
the Supplemental Indenture; 

  

	 	(xix)	Sections 1302 and 1303 of the Indenture shall apply to the Securities of such series, provided that the Company may effect defeasance and covenant defeasance pursuant to Section
1302 and 1303, respectively, only with respect to all (and not less than all) of the Outstanding Securities of such series; 

  

	 	(xx)	the Securities of such series shall not be convertible into or exchangeable for other securities; 

  

	 	(xxi)	the Securities of such series will be senior unsecured obligations of the Company and will rank equally with all other senior unsecured indebtedness of the Company from time to time
outstanding; 

  

	 	(xxii)	J.P. Morgan Trust Company, National Association, a national banking association duly organized and existing under the laws of the United States, shall act as Trustee with respect to
the Securities of such series; 

  

	 	(xxiii)	the Securities of such series shall have such other terms and provisions as set forth in the form of certificate evidencing the Securities of such series attached as Annex B to this
Officers’ Certificate, all of which terms and provisions are incorporated by reference in and made a part of this Officers’ Certificate and the Indenture as if set forth in full herein and therein. 

  
 We further certify, having read the Indenture, including Sections 301, 303
and 501 thereof, and the definitions in the Indenture relating thereto and certain other corporate documents and records, and having made such examination or investigation as we deemed necessary to enable us to express an informed opinion, that all
conditions precedent to the 

  

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authentication and delivery of the Securities have been complied with and, to the best of our knowledge, no event which is, or after notice or lapse of time
would become, an Event of Default with respect to any of the Securities has occurred and is continuing. 
  
 Capitalized terms used herein that are not otherwise defined shall have the meanings ascribed thereto in the Indenture. 
  
 [SIGNATURE PAGE FOLLOWS] 
  
  

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 IN WITNESS WHEREOF, the undersigned have executed this Officers’ Certificate as of the date first
written above. 
  

	
	
	/S/    DOUGLAS M. PASQUALE
	 Douglas M. Pasquale
 President and Chief Executive Officer

	
	/S/    DAVID SNYDER
	 David Snyder
 Controller and Assistant Secretary

  

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 Annex A 
  
 Resolutions of Pricing Committee 
  
  

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 Annex B 
  
 Form of 6.00% Note Due 2015 
  

 7Flextronics International Ltd. 2004 Award Plan for New Employees, as amended

 Exhibit 10.01 
  
 FLEXTRONICS INTERNATIONAL LTD. 
  
 2004 Award Plan for New Employees 
  
 As Adopted October 21, 2004 and as Amended November 1, 2004 and May 12, 2005 
  
 1. PURPOSE. The purpose of this Plan is to provide incentives to
attract, retain and motivate eligible persons whose present and potential contributions are important to the success of the Company, its Parent and Subsidiaries, by offering them an opportunity to participate in the Company’s future performance
through grants of Awards. Capitalized terms not defined in the text are defined in Section 20. 
  
 2. SHARES SUBJECT TO THE PLAN. 
  
 2.1 Number of Shares Available. Subject to Sections 2.2 and 15, the total number of Shares reserved and available for grant and issuance pursuant to this Plan will be seven million five hundred thousand (7,500,000) Shares plus
shares that are subject to issuance upon exercise of an Award but cease to be subject to such Award for any reason other than exercise of such Award. At all times the Company shall reserve and keep available a sufficient number of Shares as shall be
required to satisfy the requirements of all outstanding Awards granted under this Plan. No more than the lesser of (i) the number of Shares reserved hereunder, or (ii) seven million (7,000,000) Shares, shall be available to be issued and outstanding
at any point in time to employees in the Canadian province of Quebec. 
  
 2.2 Adjustment of Shares. Should any change be made to the Shares issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the
outstanding Shares as a class without the Company’s receipt of consideration, then appropriate adjustments shall be made to (i) the maximum number and/or class of securities issuable under the Plan, and (ii) the number and/or class of
securities and price per Share in effect under each Award outstanding under Sections 5 and 7. Such adjustments to the outstanding Awards are to be effected in a manner which shall preclude the enlargement or dilution of rights and benefits under
such Awards, provided, however, that (i) fractions of a Share will not be issued but will be replaced by a cash payment equal to the Fair Market Value of such fraction of a Share, as determined by the Committee, and (ii) no such adjustment shall be
made if as a result, the Exercise Price would fall below the par value of a Share and if such adjustment would but for this paragraph (ii) result in the Exercise Price being less than the par value of a Share, the Exercise Price payable shall be the
par value of a Share. The adjustments determined by the Committee shall be final, binding and conclusive. 
  
 3. ELIGIBILITY. Awards may be granted only to persons who (a) were not previously an employee or director of the Company or any Parent or
Subsidiary of the Company or (b) have either (i) completed a period of bona fide non-employment by the Company, and any Parent or Subsidiary of the Company, of at least 1 year, or (ii) are returning to service as an employee of the Company, or any
Parent or Subsidiary of the Company, after a period of bona fide non-employment of less than 1 year due to the Company’s acquisition of such person’s employer; and then only as an incentive to such persons entering into employment with the
Company or any Parent or Subsidiary of the Company. A person eligible for an Award under this Plan may be granted more than one Award under this Plan. 

 4. ADMINISTRATION. 
  
 4.1 Committee Authority. This Plan will be administered by the Committee or by the Board acting as the
Committee. Subject to the general purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement and carry out this Plan. Among its powers the Committee will have the authority to:

  
 (a) construe and interpret this Plan, any Award
Agreement and any other agreement or document executed pursuant to this Plan; 
  
 (b) prescribe, amend and rescind rules and regulations relating to this Plan or any Award; 
  
 (c) select persons to receive Awards; 
  
 (d) determine the form and terms of Awards; 
  
 (e) determine the number of Shares or other consideration subject to Awards; 
  
 (f) determine whether Awards will be granted singly, in combination with, in tandem with, in replacement of, or as
alternatives to, other Awards under this Plan or any other incentive or compensation plan of the Company or any Parent or Subsidiary of the Company; 
  
 (g) grant waivers of Plan or Award conditions; 
  
 (h) determine the vesting, exercisability and payment of Awards; 
  
 (i) correct any defect, supply any omission or reconcile any inconsistency in this Plan, any Award or any Award
Agreement; 
  
 (j) determine whether an Award has been
earned; and 
  
 (k) make all other determinations
necessary or advisable for the administration of this Plan. 
  
 4.2 Committee Discretion. Any determination made by the Committee with respect to any Award will be made in its sole discretion at the time of grant of the Award or, unless in contravention of any express term of this Plan or
Award, at any later time, and such determination will be final and binding on the Company and on all persons having an interest in any Award under this Plan. 
  
 4.3 Committee Composition. The grant of any Award shall not be effective unless: (a) if the grant is made by the Board, then it must be
approved by a majority of the 

  

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Independent Directors on the Board; and (b) if the grant is made by the Committee, then the Committee must be comprised solely of Independent Directors
(except as otherwise permitted under the rules of the NASD). 
  
 5. OPTIONS. The Committee may grant Options (which will be nonqualified stock options (“NQSOs”)) to eligible persons and will determine the number of Shares subject to the Option, the Exercise Price of the Option, the
period during which the Option may be exercised, and all other terms and conditions of the Option, subject to the following: 
  
 5.1 Form of Option Grant. Each Option granted under this Plan will be evidenced by an Award Agreement which will expressly identify the
Option as an NQSO (“STOCK OPTION AGREEMENT”), and will be in such form and contain such provisions (which need not be the same for each Participant) as the Committee may from time to time approve, and which will comply with and be subject
to the terms and conditions of this Plan. 
  
 5.2 Date of
Grant. The date of grant of an Option will be the date on which the Committee makes the determination to grant such Option, unless otherwise specified by the Committee. The Stock Option Agreement and a copy of this Plan will be delivered to
the Participant within a reasonable time after the granting of the Option. 
  
 5.3 Exercise Period. Options may be exercisable within the times or upon the events determined by the Committee as set forth in the Stock Option Agreement governing such Option; provided, however, that
no Option will be exercisable after the expiration of ten (10) years from the date the Option is granted (five (5) years from the date the Option is granted in the case of any Option granted to a person who is not an employee of the Company or any
Parent or Subsidiary of the Company on the date of grant of that Option). The Committee also may provide for Options to become exercisable at one time or from time to time, periodically or otherwise, in such number of Shares or percentage of Shares
as the Committee determines. 
  
 5.4 Exercise Price.
The Exercise Price of an Option will be determined by the Committee when the Option is granted; provided that in no event may the Exercise Price of an Option be less than the par value of the Shares. 
  
 5.5 Method of Exercise. 
  
 (a) Options may be exercised only by delivery to the Company (or as
the Company may direct) of a written stock option exercise agreement (the “Exercise Agreement”) (in the case of a written Exercise Agreement, in the form approved by the Board or the Committee, which need not be the same for each
Participant), in each case stating the number of Shares being purchased, the restrictions imposed on the Shares purchased under such Exercise Agreement, if any, and such representations and agreements regarding Participant’s investment intent
and access to information and other matters, if any, as may be required or desirable by the Company to comply with applicable securities laws, together with payment in full of the Exercise Price for the number of Shares being purchased. 

 
 (b) A written Exercise Agreement may be communicated
electronically through the use of such security device (including, without limitation, any logon identifier, password, personal identification number, smartcard, digital certificate, digital 

  

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signature, encryption device, electronic key, and/or other code or any access procedure incorporating any one or more of the foregoing) as may be designated
by the Board or the Committee for use in conjunction with the Plan from time to time (“Security Device”), or via an electronic page, site, or environment designated by the Company which is accessible only through the use of such Security
Device, and such written Exercise Agreement shall thereby be deemed to have been sent by the designated holder of such Security Device. The Company (or its agent) may accept and act upon any written Exercise Agreement issued and/or transmitted
through the use of the Participant’s Security Device (whether actually authorized by the Participant or not) as his authentic and duly authorized Exercise Agreement and the Company (or its agent) may treat such Exercise Agreement as valid and
binding on the Participant notwithstanding any error, fraud, forgery, lack of clarity or misunderstanding in the terms of such Exercise Agreement. All written Exercise Agreements issued and/or transmitted through the use of the Participant’s
Security Device (whether actually authorized by the Participant or not) are irrevocable and binding on the Participant upon transmission to the Company (or as the Company may direct) and the Company (or its agent) shall be entitled to effect,
perform or process such Exercise Agreement without the Participant’s further consent and without further reference to the Participant. 
  
 (c) The Company’s records of the Exercise Agreements (whether delivered or communicated electronically or in printed form), and its record of
any transactions maintained by any relevant person authorized by the Company relating to or connected with the Plan, whether stored in audio, electronic, printed or other form, shall be binding and conclusive on the Participant and shall be
conclusive evidence of such Exercise Agreements and/or transactions. All such records shall be admissible in evidence and, in the case of a written Exercise Agreement which has been communicated electronically, the Participant shall not challenge or
dispute the admissibility, reliability, accuracy or the authenticity of the contents of such records merely on the basis that such records were incorporated and/or set out in electronic form or were produced by or are the output of a computer
system, and the Participant waives any of his rights (if any) to so object. 
  
 5.6 Termination. Notwithstanding the exercise periods set forth in the Stock Option Agreement, exercise of an Option will always be subject to the following: 
  
 (a) If the Participant is Terminated for any reason except death or
Disability, then the Participant may exercise such Participant’s Options only to the extent that such Options would have been exercisable upon the Termination Date no later than three (3) months after the Termination Date (or such shorter or
longer time period not exceeding five (5) years as may be determined by the Committee), but in any event no later than the expiration date of the Options. 
  
 (b) If the Participant is Terminated because of the Participant’s death or Disability (or the Participant dies within three (3) months after
a Termination other than for Cause or because of the Participant’s Disability), then the Participant’s Options may be exercised only to the extent that such Options would have been exercisable by the Participant on the Termination Date and
must be exercised by the Participant (or the Participant’s legal representative or authorized assignee) no later than twelve (12) months after the Termination Date (or such shorter or longer time period not exceeding five (5) years as may be
determined by the Committee), but in any event no later than the expiration date of the Options. 
  

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 (c) If the Participant is terminated for Cause, then the Participant’s Options shall expire
on such Participant’s Termination Date, or at such later time and on such conditions as are determined by the Committee (but in any event, no later than the expiration date of the Options). 
  
 5.7 Limitations on Exercise. The Committee may specify a
reasonable minimum number of Shares that may be purchased on any exercise of an Option, provided that such minimum number will not prevent Participant from exercising the Option for the full number of Shares for which it is then exercisable.

  
 5.8 Modification, Extension or Renewal. The
Committee may modify, extend or renew outstanding Options and authorize the grant of new Options in substitution therefor, provided that any such action may not, without the written consent of a Participant, impair any of such Participant’s
rights under any Option previously granted, and provided further that the exercise period of any Option may not in any event be extended beyond the period specified in Section 5.3. 
  
 6. PAYMENT FOR SHARE PURCHASES. 
  
 6.1 Payment. Subject to compliance with all applicable laws and regulations, payment for Shares purchased
pursuant to this Plan may be made in cash (by check) or, where expressly approved for the Participant by the Committee and where permitted by law: 
  
 (a) by cancellation of indebtedness of the Company to the Participant; 
  
 (b) by waiver of compensation due or accrued to the Participant for services rendered; 
  
 (c) with respect only to purchases upon exercise of an Option, and
provided that a public market for the Company’s Shares exists: through a “same day sale” commitment from the Participant and a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD
DEALER”) whereby the Participant irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward
the Exercise Price directly to the Company; or 
  
 (d)
conversion of a convertible note issued by the Company, the terms of which provide that it is convertible into Shares issuable pursuant to the Plan (with the principal amount and any accrued interest being converted and credited dollar for
dollar to the payment of the Exercise Price); or 
  
 (e)
by any combination of the foregoing. 
  

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 7. TRANSFERABILITY/EXERCISABILITY. 
  
 7.1 Transfer and Assignment. No Option granted under this Plan, or any interest therein, or any right to
receive a Stock Bonus (prior to the issuance of Shares thereunder) will be transferable or assignable by a Participant, and no such Option or right may be made subject to execution, attachment or similar process, otherwise than by will or by the
laws of descent and distribution or as determined by the Committee and set forth in the applicable Award or Stock Option Agreement. Notwithstanding the foregoing, and subject to compliance with all applicable laws and regulations, (i) Participants
may transfer or assign their Options to Family Members through “permitted transfer;” as defined below, and (ii) if the terms of the applicable instrument evidencing the grant of an Option so provide, Participants who reside outside of the
United States and Singapore may assign their Options to a financial institution outside of the United States and Singapore that has been approved by the Committee, in accordance with the terms of the applicable instrument. The Participant shall be
solely responsible for effecting any such assignment, and for ensuring that such assignment is valid, legal and binding under all applicable laws and regulations. The Committee shall have the discretion to adopt such rules as it deems necessary to
ensure that any assignment is in compliance with all applicable laws and regulations. 
  
 7.2 Exercisability. Unless otherwise restricted by the Committee, an NQSO shall be exercisable: (i) during the Participant’s lifetime only by (A) the Participant, (B) the Participant’s guardian
or legal representative, (C) a Family Member of the Participant who has, subject to compliance with all applicable laws and regulations, acquired the NQSO by “permitted transfer;” as defined below, and (ii) after Participant’s death,
by the legal representative of the Participant’s heirs or legatees. 
  
 7.3 “Permitted transfer” means any transfer of an interest in such NQSO by gift or domestic relations order effected by the Participant during the Participant’s lifetime. A
permitted transfer shall not include any transfer for value; provided that the following shall, subject to compliance with all applicable laws and regulations, be permitted transfers and shall not be considered to be transfers for value: (a) a
transfer under a domestic relations order in settlement of marital property rights or (b) a transfer to an entity in which more than fifty percent of the voting interests are owned by Family Members or the Participant in exchange for an interest in
that entity. 
  
 8. STOCK BONUSES. A Stock Bonus is a grant
of Shares by the Company to an individual who has satisfied the terms and conditions set by the Committee on the making of such grant. The Committee will determine to whom a grant may be made, the number of Shares that may be granted, the
restrictions to the making of such grant, and all other terms and conditions of the Stock Bonus. The conditions to grant may be based upon completion of a specified number of years of service with the Company or upon completion of the performance
goals as set out by the Committee. Grants of Stock Bonuses may vary from Participant to Participant and between groups of Participants. Prior to the grant of a Stock Bonus, the Committee shall: (a) determine the nature, length and starting date of
any Performance Period that may be a condition precedent to grant of a Stock Bonus; (b) select from among the Performance Factors to be used to measure performance goals, if any; and (c) determine the number of Shares that may be awarded to the
Participant. Prior to the grant of any Stock Bonus, 

  

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the Committee shall determine the extent to which such Stock Bonus has been earned. Performance Periods may overlap and Participants may participate
simultaneously with respect to Stock Bonuses that are subject to different Performance Periods and having different performance goals and other criteria. Participants shall be required to pay the par value for any Shares issued as a Stock Bonus.

  
 9. WITHHOLDING TAXES. 
  
 9.1 Withholding Generally. Whenever Shares are to be issued in
satisfaction of Awards granted under this Plan, the Company may require the Participant to remit to the Company an amount sufficient to satisfy federal, state and local withholding tax requirements prior to the delivery of any certificate or
certificates for such Shares. Whenever, under this Plan, payments in satisfaction of Awards are to be made in cash, such payment will be net of an amount sufficient to satisfy federal, state, and local withholding tax requirements. 
  
 9.2 Stock Withholding. When, under applicable tax laws, a
Participant incurs tax liability in connection with the exercise or vesting of any Award that is subject to tax withholding and the Participant is obligated to pay the Company the amount required to be withheld, the Committee may in its sole
discretion, and subject to compliance with all applicable laws and regulations, allow the Participant to satisfy the minimum withholding tax obligation by electing to have the Company withhold from the Shares to be issued that number of Shares
having a Fair Market Value equal to the minimum amount required to be withheld, determined on the date that the amount of tax to be withheld is to be determined. All elections by a Participant to have Shares withheld for this purpose will be made in
accordance with the requirements established by the Committee and will be in writing in a form acceptable to the Committee. 
  
 10. PRIVILEGES OF STOCK OWNERSHIP. No Participant will have any of the rights of a shareholder with respect to any Shares until the Shares are
issued to the Participant. After Shares are issued to the Participant, the Participant will be a shareholder and have all the rights of a shareholder with respect to such Shares, including the right to vote and receive all dividends or other
distributions made or paid with respect to such Shares. 
  
 11.
CERTIFICATES. All certificates for Shares or other securities delivered under this Plan will be subject to such stock transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under
any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC or any stock exchange or automated quotation system upon which the Shares may be listed or quoted. 
  
 12. EXCHANGE AND BUYOUT OF AWARDS. The Committee may, at any time or
from time to time and subject to compliance with all applicable laws and regulations, authorize the Company, with the consent of the respective Participants, to issue new Awards in exchange for the surrender and cancellation of any or all
outstanding Awards. The Committee may at any time and subject to compliance with all applicable laws and regulations buy from a Participant an Award previously granted with payment in cash, Shares or other consideration, based on such terms and
conditions as the Committee and the Participant may agree. 
  

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 13. SECURITIES LAW AND OTHER REGULATORY COMPLIANCE. An Award will not be effective unless such
Award is in compliance with all applicable foreign, federal and state securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed
or quoted, as they are in effect on the date of grant of the Award and also on the date of exercise or other issuance. Notwithstanding any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for Shares
under this Plan prior to: (a) obtaining any approvals from governmental agencies that the Company determines are necessary or advisable; and/or (b) completion of any registration or other qualification of such Shares under any law or ruling of any
governmental body that the Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the SEC or to effect compliance with the registration, qualification or listing requirements of any state
securities laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure to do so. 
  
 14. NO OBLIGATION TO EMPLOY. Nothing in this Plan or any Award granted under this Plan will confer or be deemed to confer on any Participant any
right to continue in the employ of, or to continue any other relationship with, the Company or any Parent or Subsidiary of the Company or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate
Participant’s employment or other relationship at any time, with or without cause. 
  
 15. CORPORATE TRANSACTIONS. 
  
 15.1 Assumption or Replacement of Awards by Successor. In the event of (a) a dissolution or liquidation of the Company, (b) a merger or consolidation in which the Company is not the surviving corporation (other than a merger
or consolidation with a wholly-owned subsidiary, a reincorporation of the Company in a different jurisdiction, or other transaction in which there is no substantial change in the shareholders of the Company or their relative share holdings and the
Awards granted under this Plan are assumed, converted or replaced by the successor corporation, which assumption will be binding on all Participants), (c) a merger in which the Company is the surviving corporation but after which the shareholders of
the Company immediately prior to such merger (other than any shareholder that merges, or which owns or controls another corporation that merges, with the Company in such merger) cease to own their shares or other equity interest in the Company, (d)
the sale of substantially all of the assets of the Company, or (e) the acquisition, sale, or transfer of more than 50% of the outstanding shares of the Company by tender offer or similar transaction (each, a “CORPORATE TRANSACTION”), each
Option which is at the time outstanding under this Plan shall automatically accelerate so that each such Option shall, immediately prior to the specified effective date for the Corporate Transaction, become fully exercisable with respect to the
total number of Shares at the time subject to such Option and may be exercised for all or any portion of such Shares. However, subject to the specific terms of a Participant’s Award Agreement, an outstanding Option under this Plan shall not so
accelerate if and to the extent: (i) such Option is, in connection with the Corporate Transaction, either to be assumed by the successor corporation or parent thereof or to be replaced with a comparable Option to purchase shares of the capital stock
of the successor corporation or parent thereof, (ii) such Option is to be replaced with a cash incentive program of the successor corporation which preserves the Option 

  

 8 

 
spread existing at the time of the Corporate Transaction and provides for subsequent payout in accordance with the same vesting schedule applicable to such
Option or (iii) the acceleration of such Option is subject to other limitations imposed by the Committee at the time of the Option grant. The determination of Option comparability under clause (i) above shall be made by the Committee, and its
determination shall be final, binding and conclusive. 
  
 15.2
Other Treatment of Awards. Subject to any greater rights granted to Participants under the foregoing provisions of this Section 15 or other specific terms of a Participant’s Award Agreement, in the event of the occurrence of any
Corporate Transaction described in Section 15.1, any outstanding Awards will be treated as provided in the applicable agreement or plan of merger, consolidation, dissolution, liquidation, or sale of assets. 
  
 15.3 Assumption of Awards by the Company. The Company, from
time to time, also may substitute or assume outstanding awards granted by another company, whether in connection with an acquisition of such other company or otherwise, by either; (a) granting an Award under this Plan in substitution of such other
company’s award; or (b) assuming such award as if it had been granted under this Plan if the terms of such assumed award could be applied to an Award granted under this Plan. Such substitution or assumption will be permissible if the holder of
the substituted or assumed award would have been eligible to be granted an Award under this Plan if the other company had applied the rules of this Plan to such grant. In the event the Company assumes an award granted by another company, the terms
and conditions of such award will remain unchanged (except that the Exercise Price and the number and nature of Shares issuable upon exercise of any such Option will be adjusted appropriately pursuant to Section 424(a) of the Code). In the event the
Company elects to grant a new Option rather than assuming an existing Option, such new Option may be granted with a similarly adjusted Exercise Price. 
  
 16. EFFECTIVE DATE AND SHAREHOLDER APPROVAL. This Plan may be submitted by the Board for approval by the shareholders of the Company (excluding
Shares issued pursuant to this Plan that are still held by Participants as of the record date established for purposes of such approval), consistent with applicable laws, at any time after the date this Plan is adopted by the Board. 
  
 17. TERM OF PLAN/GOVERNING LAW. Unless earlier terminated as provided
herein, this Plan will terminate ten (10) years from the date this Plan is adopted by the Board or, if later, the date of shareholder approval. This Plan and all agreements thereunder shall be governed by and construed in accordance with the laws of
the State of California. 
  
 18. AMENDMENT OR TERMINATION OF
PLAN. The Board has complete and exclusive power and authority to amend or modify the Plan (or any component thereof) in any respect, or all respects, whatsoever. However, no such amendment or modification shall adversely affect rights and
obligations with respect to Options at the time outstanding under the Plan, unless the Participant consents to such amendment. The Board may at any time terminate or amend this Plan in any respect, including without limitation amendment of any form
of Award Agreement or instrument to be executed pursuant to this Plan. 
  

 9 

 19. NONEXCLUSIVITY OF THE PLAN. Neither the adoption of this Plan by the Board, the submission of
this Plan to the shareholders of the Company for approval, nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation arrangements as it may deem desirable, including,
without limitation, the granting of stock options and bonuses otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 
  
 20. DEFINITIONS. As used in this Plan, the following terms will have
the following meanings: 
  
 “AWARD” means any Options
or shares from Stock Bonuses granted under this Plan. 
  
 “AWARD AGREEMENT” means, with respect to each Award, the signed written agreement between the Company and the Participant setting forth the terms and conditions of the Award. 
  
 “BOARD” means the Board of Directors of the Company. 
  
 “CAUSE” means (a) the commission of an act of theft, embezzlement,
fraud, dishonesty, (b) a breach of fiduciary duty to the Company or a Parent or Subsidiary of the Company or (c) a failure to materially perform the customary duties of the employee’s employment. 
  
 “CODE” means the Internal Revenue Code of 1986, as amended.

  
 “COMMITTEE” means the Board or an “independent
compensation committee” (as such term is defined for purposes of the rules of the National Association of Securities Dealers, Inc.). 
  
 “COMPANY” means Flextronics International Ltd. or any successor corporation. 
  
 “DISABILITY” means total and permanent disability as defined in Section 22(e)(3) of the Code. 
  
 “EXCHANGE ACT” means the Securities Exchange Act of 1934, as
amended. 
  
 “EXERCISE PRICE” means the price at which a
holder of an Option may purchase the Shares issuable upon exercise of the Option. 
  
 “FAIR MARKET VALUE” means, as of any date, the value of the Shares determined as follows: 
  
 (a) if such Shares are then quoted on the Nasdaq National Market, the closing price of such Shares on the Nasdaq National Market on the date of
determination as reported in The Wall Street Journal; 
  
 (b)
if such Shares are publicly traded and are then listed on a national securities exchange, the closing price of such Shares on the date of determination on the principal national securities exchange on which the Shares are listed or admitted to
trading as reported in The Wall Street Journal; 
  

 10 

 (c) if such Shares are publicly traded but are not quoted on the Nasdaq National Market nor
listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on the date of determination as reported in The Wall Street Journal; or 
  
 (d) if none of the foregoing is applicable, by the Committee in good faith. 
  
 “FAMILY MEMBER” includes any of the following: 
  
 (a) child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the Participant, including any such person with such relationship to the Participant by adoption;

  
 (b) any person (other than a tenant or employee)
sharing the Participant’s household; 
  
 (c) a trust
in which the persons in (a) and (b) have more than fifty percent of the beneficial interest; 
  
 (d) a foundation in which the persons in (a) and (b) or the Participant control the management of assets; or 
  
 (e) any other entity in which the persons in (a) and (b) or the Participant own more than fifty percent of the voting interest. 
  
 “HOSTILE TAKE-OVER” means a change in ownership of the Company
effected through the following transaction: 
  
 (a) the
direct or indirect acquisition by any person or related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership (within the
meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the
Company’s shareholders which the Board does not recommend such shareholders to accept, and 
  
 (b) the acceptance of more than fifty percent (50%) of the securities so acquired in such tender or exchange offer from holders other than
Insiders. 
  
 “INDEPENDENT DIRECTOR” has the meaning
given such term under the Rules of the National Association of Securities Dealers, Inc. as in effect at the time of grant of any Award. For convenience, as of the date of adoption of the Plan, the Rules of the National Association of Securities
Dealers, Inc. define “independent director” as a person other than an officer or employee of the Company or any Subsidiary or any other individual having a relationship which, in the opinion of the Board, would interfere with the exercise
of independent judgment in carrying out the responsibilities of a director. As of the date of adoption of the Plan, the Rules of 

  

 11 

 
the National Association of Securities Dealers, Inc. go on to provide that the following persons shall not be considered as an “independent
director”: 
  
 (a) a director who is, or at any time
during the past three (3) years was, employed by the Company or by any Parent or Subsidiary; 
  
 (b) a director who accepted or who has a Related Party who accepted any payments from the Company or any Parent or Subsidiary in excess of $60,000 during any period of twelve (12) consecutive months within the
three (3) years preceding the determination of independence, other than the following: 
  
 (i) compensation for service on the Board or a committee of the Board; 
  
 (ii) Payments arising solely from investments in the Company’s securities; 
  
 (iii) compensation paid to a Related Party who is a non-executive employee of the Company or a Parent or Subsidiary;

  
 (iv) benefits under a tax-qualified retirement plan,
or non-discretionary compensation; 
  
 (v) loans from a
financial institution provided that the loans (A) were made in the ordinary course of business, (B) were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with
the general public, (C) did not involve more than a normal degree of risk or other unfavorable factors, and (D) were not otherwise subject to the specific disclosure requirements of SEC Regulation S-K, Item 404; 
  
 (vi) payments from a financial institution in connection with the
deposit of funds or the financial institution acting in an agency capacity, provided such payments were (A) made in the ordinary course of business; (B) made on substantially the same terms as those prevailing at the time for comparable transactions
with the general public; and (C) not otherwise subject to the disclosure requirements of SEC Regulation S-K, Item 404; or 
  
 (vii) loans permitted under Section 13(k) of the Exchange Act. 
  
 (c) a director who is a Related Party of an individual who is, or at any time during the past three years was,
employed by the Company or by any Parent or Subsidiary as an executive officer. Immediate family includes a person’s spouse, parents, children, siblings, mother-in-law, father-in-law, brother-in-law, sister-in-law, son-in-law, daughter-in-law,
and anyone who resides in such person’s home; 
  
 (d)
a director who is, or has a Related Party who is, a partner in, or a controlling shareholder or an executive officer of, any organization to which the Company made, or from which the Company received, payments for property or services in the
current or any of 

  

 12 

 
the past three fiscal years that exceed 5% of the recipient’s consolidated gross revenues for that year, or $200,000, whichever is more, other than the
following: 
  
 (i) payments arising solely from
investments in the Company’s securities; or 
  
 (ii)
payments under non-discretionary charitable contribution matching programs. 
  
 (e) a director of the Company who is, or has a Related Party who is, employed as an executive officer of another entity where at any time during the past three (3) years any of the executive officers of the
Company serve on the compensation committee of such other entity; or 
  
 (f) a director who is, or has a Related Party who is, a current partner of the Company’s outside auditor, or was a partner or employee of the Company’s outside auditor who worked on the Company’s audit at any time
during any of the past three (3) years. 
  
 “INSIDER”
means an officer or director of the Company or any other person whose transactions in the Company’s Shares are subject to Section 16 of the Exchange Act. 
  

“OPTION” means an award of an option to purchase Shares pursuant to Section 5. 
  
 “PARENT” means any corporation (other than the Company) in an unbroken chain of corporations ending with the
Company if each of such corporations other than the Company owns stock possessing more than 50% of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
  
 “PARTICIPANT” means a person who receives an Award under this Plan.

  
 “PERFORMANCE FACTORS” means the factors selected by
the Committee from among the following measures to determine whether the performance goals established by the Committee and applicable to Awards have been satisfied: 
  
 (a) Net revenue and/or net revenue growth; 
  
 (b) Earnings before income taxes and amortization and/or earnings before income taxes and amortization
growth; 
  
 (c) Operating income and/or operating
income growth; 
  
 (d) Net income and/or net
income growth; 
  
 (e) Earnings per share and/or
earnings per share growth; 
  
 (f) Total
stockholder return and/or total stockholder return growth; 
  
 (g) Return on equity; 
  

 13 

 (h) Operating cash flow return on income; 
  
 (i) Adjusted operating cash flow return on income;

  
 (j) Economic value added; and 
  
 (k) Individual confidential business objectives. 

 
 “PERFORMANCE PERIOD” means the period of service determined by
the Committee, not to exceed five years, during which years of service or performance is to be measured for Awards. 
  
 “PLAN” means this Flextronics International Ltd. 2004 Award Plan for New Employees, as amended from time to time. 
  
 “RELATED PARTY” means a person’s spouse, parents, children and
siblings, whether by blood, marriage or adoption, or anyone residing in such person’s home. 
  
 “SEC” means the Securities and Exchange Commission. 
  
 “SECURITIES ACT” means the Securities Act of 1933, as amended. 
  
 “SHARES” means ordinary shares of par value S$0.01 each in the capital of the Company reserved for issuance under
this Plan, as adjusted pursuant to Sections 2 and 15, and any successor security. 
  
 “STOCK BONUS” means an award of Shares pursuant to Section 8. 
  
 “SUBSIDIARY” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if each of the
corporations other than the last corporation in the unbroken chain owns stock possessing more than 50% of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
  
 “TAKE-OVER PRICE” means the greater of (a) the Fair Market Value
per Share on the date the particular Option to purchase Shares is surrendered to the Company in connection with a Hostile Take-Over or (b) the highest reported price per Share paid by the tender offeror in effecting such Hostile Take-Over. However,
if the surrendered Option is an ISO, the Take-Over Price shall not exceed the clause (a) price per Share. 
  
 “TERMINATION” or “TERMINATED” means, for purposes of this Plan with respect to a Participant, that the Participant has for any reason
ceased to provide services as an employee to the Company or a Parent or Subsidiary of the Company. An employee will not be deemed to have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of
absence approved by the Committee, provided, that such leave is for a period of not more than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute or unless provided otherwise pursuant to formal policy
adopted from time to time by the Company and issued and promulgated to employees in writing. In the case of any employee on an approved leave of absence, the Committee may make such provisions respecting 

  

 14 

 
suspension of vesting of the Award while on leave from the employ of the Company or a Subsidiary as it may deem appropriate, except that in no event may an
Option be exercised after the expiration of the term set forth in the Stock Option Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant
ceased to provide services (the “TERMINATION DATE”). 
  

 15

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