Flextronics International Ltd. Executive Officer Compensation Arrangements (2011)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2011 compensation arrangements for certain executive officers of Flextronics International Ltd., including the CEO, CFO, and other senior executives. It details their annual base salaries, participation in annual incentive bonus plans, and eligibility for long-term cash incentive and equity-based awards. Performance-based share awards vest depending on the company's shareholder return compared to the S&P 500 Index. The agreement sets out the key compensation terms for each executive for the fiscal year, subject to the company's incentive and equity plans.

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EX-10.07 7 c04350exv10w07.htm EXHIBIT 10.07 Exhibit 10.07
Exhibit 10.07
Compensation Arrangements of Certain Executive Officers of Flextronics International Ltd.
Note: The following summary of compensation arrangements does not include all previously-reported compensation arrangements or awards granted under previously-disclosed incentive plans. Disclosures with respect to compensation for Named Executive Officers for the 2010 fiscal year are included in the Company’s definitive proxy statement for the Company’s 2010 Annual General Meeting of Shareholders, and disclosures with respect to compensation for Named Executive Officers for the 2011 fiscal year will be included in the Company’s definitive proxy statement for the Company’s 2011 Annual General Meeting of Shareholders.
Compensation for Michael McNamara (Chief Executive Officer)
Mr. McNamara’s current annual base salary is $1,250,000. In addition, Mr. McNamara will participate in the Company’s annual incentive bonus plan and long-term cash incentive deferred compensation plan (which is described in the Company’s Report on Form 8-K filed on June 2, 2010). Mr. McNamara also received awards of performance-based share bonus awards and service-based share bonus awards under the Company’s equity incentive plans as part of his fiscal 2011 compensation. Vesting of the performance-based award will depend on the Company achieving levels of total shareholder return relative to the average of the Standard & Poor’s 500 Index total shareholder return.
Compensation for Paul Read (Chief Financial Officer)
Mr. Read’s current annual base salary is $600,000. In addition, Mr. Read will participate in the Company’s annual incentive bonus plan. Mr. Read also received awards of performance-based share bonus awards and service-based share bonus awards under the Company’s equity incentive plans as part of his fiscal 2011 compensation. Vesting of the performance-based award will depend on the Company achieving levels of total shareholder return relative to the average of the Standard & Poor’s 500 Index total shareholder return.
Compensation for Michael Clarke
Mr. Clarke’s current annual base salary is $550,000. In addition, Mr. Clarke will participate in the Company’s annual incentive bonus plan and long-term cash incentive deferred compensation plan (which is described in the Company’s Report on Form 8-K filed on June 2, 2010). Mr. Clarke also received awards of performance-based share bonus awards and service-based share bonus awards under the Company’s equity incentive plans as part of his fiscal 2011 compensation. Vesting of the performance-based award will depend on the Company achieving levels of total shareholder return relative to the average of the Standard & Poor’s 500 Index total shareholder return.

 

 

 

Compensation for Francois Barbier
Mr. Barbier’s current annual base salary is €370,370. In addition, Mr. Barbier will participate in the Company’s annual incentive bonus plan and long-term cash incentive deferred compensation plan (which is described in the Company’s Report on Form 8-K filed on June 2, 2010). Mr. Barbier also received awards of performance-based share bonus awards and service-based share bonus awards under the Company’s equity incentive plans as part of his fiscal 2011 compensation. Vesting of the performance-based award will depend on the Company achieving levels of total shareholder return relative to the average of the Standard & Poor’s 500 Index total shareholder return.
Compensation for Werner Widmann
Mr. Widmann’s current annual base salary is €327,349. In addition, Mr. Widmann will participate in the Company’s annual incentive bonus plan. Mr. Widmann also received awards of performance-based share bonus awards and service-based share bonus awards under the Company’s equity incentive plans as part of his fiscal 2011 compensation. Vesting of the performance-based award will depend on the Company achieving levels of total shareholder return relative to the average of the Standard & Poor’s 500 Index total shareholder return.

 

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