TTMI TTM Technologies Inc

Exhibit 10.1

July 27, 2023

Daniel Boehle

[***]

Dear Dan:

We are pleased to present you an offer of employment at TTM Technologies at our Santa Ana (HQ) location. We believe your skills, experience, and knowledge will be an asset to our company and we look forward to a rewarding employment relationship. Please note, this offer is contingent upon your successful completion of a pre-employment background check, drug screening, proof that your status in the United States complies with ITAR regulations as they apply to TTM, and execution of certain company agreements related to confidentiality and the protection of TTM assets. Additionally, this offer is contingent upon the successful closure of the L3/Aerojet Rocketdyne transaction and approval from the TTM Human Capital & Compensation Committee (“Committee”) which we expect soon.

The following summarizes the key terms of this offer:

Position

Compensation

Annual Incentive Plan: You will be eligible to participate in the TTM Incentive Plan (TIP). Your target bonus will be 80% of your eligible earnings, and will be based on the completion of specific financial and performance objectives which will be shared separately.

Equity: On an annualized basis, the total of both RSU and PRU is $950k which is subject to Committee approval. For FY2023, since you are joining in Q3, you will receive the pro-rata portion of the PRU and full complement of RSU. Details below.

Restricted Stock Units (RSUs): Subject to the approval of the Committee you will be granted RSUs with a target value of $427,000. The exact number of RSUs on the date of grant will be determined by dividing the target value by the 6-month trailing average closing stock price at the date of grant, which will occur on your start date. RSUs are subject to the standard vesting schedule of three years.

Performance Share Units (PSU): Subject to the approval of the Committee you will be granted PSUs with a target value of $175,000. The exact number of PSUs on the date of grant will be determined by dividing the target value by the 6-month trailing average closing stock price at the date of grant, which will occur on your start date.

We (Treasury) will provide you with separate equity agreements for both RSU and PSU upon joining which outline targets and plan specifics.

Benefits

You will be eligible to participate in benefits programs in accordance with the company’s policies upon your start date, except as otherwise indicated.

Medical, Dental and Vision (benefits begin on the first of the month following your start date and you have 30 days from the date of eligibility to sign up)

Life insurance

Short and Long Term Disability

401(k) Savings Plan

Paid Time Off: 20 days (160 hours) annually, which accrues bi-weekly from your start date

For more information, please refer to the summary plan documents and company handbook which will be provided upon starting.

Withholding and Employment Taxes:

All of your compensation (in any form) shall be subject to all required withholding taxes, employment taxes and other deductions required by law.

At-Will Employment and Entire Agreement:

Your employment is at-will and for no specified period, and either you or the Company may terminate this employment relationship at any time and for any reason. This provision can only be changed or revoked in a formal written contract signed by the CEO of TTM, and cannot be changed by any express or implied agreement based on statements or actions by any employee or supervisor. This offer, including any attachments, contains our complete, final, and exclusive agreement relating to the terms and conditions of your employment, and supersedes all prior or contemporaneous oral or written agreements, representations, or discussions. As an executive, you will be subject to the TTM clawback policy and Share Ownership Guidelines. The Company reserves the right to change elements and the structure of its compensation and benefit plans and employment policies to better align with business needs.

We look forward to having you join the TTM team. If this offer meets with your approval, please indicate your acceptance by signing below and returning an executed original to me at your earliest convenience, but no later than August 1, 2023.

Sincerely,

Shawn Powers, [***]

CHRO

Acceptance:

I accept TTM Technologies’ offer of employment under the terms outlined in this letter.

Exhibit 99.1

TTM Technologies, Inc. Announces the Retirement of its CFO and Appoints a CFO Successor

Santa Ana, CA – August 2, 2023 – TTM Technologies, Inc. (NASDAQ: TTMI or The Company), a leading global manufacturer of technology solutions including mission systems, radio frequency (“RF”) components and RF microwave/microelectronic assemblies, and printed circuit boards (“PCB”), today announced that Todd B. Schull, the Company’s Chief Financial Officer, intends to retire at the end of 2023.

Mr. Schull has also notified the Company of his intention to step down as the Company’s Executive Vice President & Chief Financial Officer, effective September 11, 2023. From September 11, 2023 to December 31, 2023, Mr. Schull intends to serve as a special advisor to the Company’s Chief Executive Officer, Thomas T. Edman.

In addition, the Company announced today that Daniel L. Boehle, age 51, has been appointed to succeed Mr. Schull as Executive Vice President and Chief Financial Officer of the Company, with a projected effective date of September 11, 2023. Mr. Boehle is expected to join the Company on August 21, 2023. From August 21, 2023 to September 11, 2023, Mr. Boehle is expected to serve as Executive Vice President of Finance for the Company.

Mr. Boehle has served as Vice President and Chief Financial Officer for Aerojet Rocketdyne Holdings, Inc. (“Aerojet”), a world-recognized technology-based engineering and manufacturing company that develops and produces specialized power and propulsion systems, as well as armament systems, since August 2020. From August 2017 to July 2020, Mr. Boehle was Vice President, Controller, and Chief Accounting Officer for Aerojet. Before joining Aerojet, Mr. Boehle served in various leadership roles across Corporate Accounting, Financial Reporting, and Financial Planning and Analysis at Northrop Grumman Corporation. Before joining Northrop Grumman Corporation, he held positions at KPMG LLP and KPMG Australia Ltd. Mr. Boehle has a B.S. in Accounting from Loyola Marymount University and a Master of Business Administration with an Emphasis in Finance and Entrepreneurship from the UCLA Anderson School of Management.

“Today we reflect on the past and embrace the future. I would like to thank Todd Schull for his 10 plus years of service to TTM and congratulate him on his sterling career. I speak for all of the TTM family as we wish him immense joy and fulfillment in his retirement. I am grateful for his leadership and friendship and will always cherish the invaluable contributions he made to TTM and his partnership with me. While we honor Todd for his career as he approaches retirement, we welcome Dan with excitement and open arms. I am confident that with Dan’s experience and expertise, he will help us to continue to forge a path of excellence as we execute on our core vision of inspiring innovation as a global preeminent technology solutions company.” said Tom Edman, TTM’s Chief Executive Officer.

About TTM

TTM Technologies, Inc. is a leading global manufacturer of technology solutions including mission systems, RF components/RF microwave/microelectronic assemblies, quick-turn and technologically advanced PCBs. TTM stands for time-to-market, representing how TTM’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Additional information can be found at www.ttm.com.

Forward-Looking Statements

This release contains forward-looking statements that relate to future events or performance. TTM cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect TTM’s current expectations, and TTM does not undertake to update or revise these forward looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other TTM statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond TTM’s control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, the impact of COVID-19, general market and economic conditions, including interest rates, currency exchange rates and consumer spending, demand for TTM’s products, market pressures on prices of TTM’s products, warranty claims, changes in product mix, contemplated significant capital expenditures and related financing requirements, TTM’s dependence upon a small number of customers and other factors set forth in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of TTM’s public reports filed with the SEC.