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| SANM > SEC Filings for SANM > Form 8-K on 15-Oct-2009 | All Recent SEC Filings |
15-Oct-2009
Change in Directors or Principal Officers, Financial Statements and Exhibits
On October 14, 2009, the Board of Directors of Sanmina-SCI Corporation (the "Company") appointed Jean Manas, 44, to serve as a member of the Board of Directors of the Company.
Mr. Manas has been serving as Chief Executive Officer of Foros Group LLC, a financial services firm which he founded, since June 2009. From February 2006 until June 2009, Mr. Manas served in various executive positions at Deutsche Bank, most recently as Americas Head of Mergers & Acquisitions and member of the Global Banking Executive Committee. From May 1998 through January 2006, Mr. Manas served in various senior roles at Goldman Sachs & Co., most recently as Managing Director and Co-Head of Mergers & Acquisitions in the Technology, Media and Telecommunications Investment Banking Group.
Mr. Manas shall be eligible to receive the standard compensation package for non-employee directors of the Company. In particular, Mr. Manas will receive an annual Board retainer of $60,000, provided that such amount may be increased by one-third in the aggregate if Mr. Manas elects to receive his entire retainer in the form of restricted stock awards. Mr. Manas will also receive payments for attending meetings of the Board of Directors of $2,000, if attending in person, and $1,000, if attending telephonically. Such per meeting fees may be eligible for deferral in accordance with the terms of the Sanmina-SCI Deferred Compensation Plan for Outside Directors.
In addition, Mr. Manas shall be granted a stock option to purchase 10,000 shares of common stock and restricted stock units for 20,000 shares of common stock under our 2009 Incentive Plan. Such options and restricted stock units shall vest at the rate of 1/12 of such shares monthly from the date of grant.
The Company issued a press release regarding Mr. Manas' appointment, which is attached hereto as Exhibit 99.1.
(d) Exhibits.
The following exhibits are filed herewith:
Exhibit No. Description
99.1 Press Release issued by Sanmina-SCI Corporation on October 15, 2009.
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