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Electronics Production | December 29, 2005

Big paycheck from bleeding Flextronics

Flextronics CEO could cash in $7.5 million in cash besides a long range of benefits when he was elevated to the position as Chairman of the board. Despite that Flextronics had shown declining economic results.
In addition he received, medical and dental benefits for life for both him and his wife, accelerated the vesting of certain options worth about $14 million at current share prices, and modified the terms of other option grants that would have required him to step out of the money options but now gives him an additional 10 years to exercise those options. And for good measure, the company gave him use of the corporate jet.

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