-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LJCmi2EmtGwnYgDeNHz3tQJtkRXp+FkPGEHQgt2wc6rjHBk1UNxVW+dcfdQc2P7i 4Vyp93QpQwqGsqfNt1GfZA== 0000950134-08-010826.txt : 20080605 0000950134-08-010826.hdr.sgml : 20080605 20080605171714 ACCESSION NUMBER: 0000950134-08-010826 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080602 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20080605 DATE AS OF CHANGE: 20080605 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLEXTRONICS INTERNATIONAL LTD. CENTRAL INDEX KEY: 0000866374 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 000000000 STATE OF INCORPORATION: U0 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23354 FILM NUMBER: 08883806 BUSINESS ADDRESS: STREET 1: ONE MARINA BOULEVARD, #28-00 CITY: SINGAPORE STATE: U0 ZIP: 018989 BUSINESS PHONE: (65) 6890 7188 MAIL ADDRESS: STREET 1: ONE MARINA BOULEVARD, #28-00 CITY: SINGAPORE STATE: U0 ZIP: 018989 FORMER COMPANY: FORMER CONFORMED NAME: FLEXTRONICS INTERNATIONAL LTD DATE OF NAME CHANGE: 19940318 FORMER COMPANY: FORMER CONFORMED NAME: FLEX HOLDINGS PTE LTD DATE OF NAME CHANGE: 19940201 8-K 1 d57451e8vk.htm FORM 8-K e8vk
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 2, 2008
 
FLEXTRONICS INTERNATIONAL LTD.
(Exact Name of Registrant as Specified in Its Charter)
         
Singapore   0-23354   Not Applicable
(State or other jurisdiction of   (Commission File Number)   (IRS Employer Identification No.)
incorporation)        
     
One Marina Boulevard, # 28-00, Singapore   018989
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (65) 6890-7188
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Executive Compensation
Compensation for Michael McNamara (Chief Executive Officer)
     On June 2, 2008, the Board approved an annual base salary for Mr. McNamara of $1,250,000 for fiscal year 2009. In addition, Mr. McNamara will participate in the Company’s annual incentive bonus plan and three-year cash incentive bonus plan and was awarded restricted stock units and stock options under the Company’s stock incentive plans. The Board also approved a special performance bonus of $1,200,000 for fiscal year 2008.
Three-Year Cash Incentive Bonus Plan
     On June 2, 2008, the Board approved the Company’s three-year cash incentive bonus plan. The plan provides its executive officers with the opportunity to earn threshold, target and maximum bonuses based upon the achievement of three-year compounded annual EPS growth rates. Maximum cash bonuses are $4,000,000 for the Chief Executive Officer, $1,250,000 for the Chief Financial Officer and either $625,000 or $500,000 for other executive officers participating in the plan. Bonuses only will be payable to executives who remain employed when the bonuses become payable after fiscal year 2011. If the Company fails to achieve a threshold performance level, no bonuses will be awarded. For purposes of determining achievement of performance levels, the three-year cash incentive bonus plan uses adjusted, non-GAAP diluted earnings per share.

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SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
             
    FLEXTRONICS INTERNATIONAL LTD.    
 
            
Date: June 5, 2008
  By:
Name: 		  /s/ Carrie L. Schiff
 
Carrie L. Schiff 		   
 
  Title:   Senior Vice President and General Counsel    

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