- Current report filing (8-K)
January 30 2009 - 4:49PM
Edgar (US Regulatory)
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
January 21, 2009
Date
of Report (Date of earliest event reported)
SANMINA-SCI
CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
|
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000-21272
|
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77-0228183
|
(State or other jurisdiction of
incorporation)
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(Commission File Number)
|
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(I.R.S. Employer Identification
No.)
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2700 North First Street
San Jose, California 95134
(Address
of principal executive offices)
(408) 964-3500
(Registrants
telephone number, including area code)
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 (see General Instruction A.2.
below):
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 1.01. Entry into a Material
Definitive Agreement.
On January 26, 2009, the stockholders of
Sanmina-SCI Corporation (the Company) approved the Companys 2009 Incentive
Plan (the 2009 Plan) and the reservation of 45,000,000 shares of common stock
for issuance thereunder.
The 2009 Plan permits the award of incentive
stock options, non-statutory stock options, restricted stock awards, restricted
stock unit awards, stock appreciation rights, and other forms of equity
compensation as determined by the Board of Directors or permitted delegatees.
The 2009 Plan also provides the ability to grant performance stock awards and
performance cash awards. Equity awards may be made under the 2009 Plan to
employees, consultants and members of the Companys Board of Directors. The
terms and conditions of each type of award are set forth in the 2009 Plan,
which is filed an exhibit hereto. The 2009 Plan expires on January 26,
2019.
Item 5.02 Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers
On January 21, 2009, the Company
announced a temporary reduction in annual base salaries of its Chief Executive
Officer and next three most highly compensated executive officers (the Named
Executive Officers). The base salaries of the Chief Executive Officer and
President and Chief Operating Officer have been reduced by 20% and the base
salaries of the other Named Executive Officers have been reduced by 10%. As a
result, the current annual base salaries of the Named Executive Officers are as
follows: Jure Sola (Chief Executive Officer), $640,000; Hari Pillai (President
and Chief Operating Officer), $344,000; David L. White (Executive Vice
President and Chief Financial Officer), $382,500; and Michael R. Tyler
(Executive Vice President and General Counsel), $315,000. The Company will
periodically review whether to reinstate the original base salaries of the
Named Executive Officers based upon business conditions.
Item 9.01. Financial Statements and
Exhibits.
(d) Exhibits
Exhibit
Number
|
|
Description
|
10.37(1)
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|
2009 Incentive Plan
|
(1) Compensation plan or arrangement in
which executive officer or director participates.
2
SIGNATURE
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.
Date: January 30, 2009
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SANMINA-SCI
CORPORATION
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By:
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/s/ Michael
R. Tyler
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Michael R.
Tyler
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Executive Vice
President, General Counsel and Corporate Secretary
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3
INDEX TO EXHIBITS
Exhibit
Number
|
|
Description
|
|
|
|
10.37(1)
|
|
2009 Incentive Plan
|
(1) Compensation plan or arrangement in
which executive officer or director participates.
4
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