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Fabrinet – ‘10-Q’ for 3/25/22 – ‘EX-10.1’

On:  Tuesday, 5/3/22, at 7:19am ET   ·   For:  3/25/22   ·   Accession #:  1408710-22-28   ·   File #:  1-34775

Previous ‘10-Q’:  ‘10-Q’ on 2/1/22 for 12/24/21   ·   Next:  ‘10-Q’ on 11/8/22 for 9/30/22   ·   Latest:  ‘10-Q’ on 2/6/24 for 12/29/23   ·   1 Reference:  By:  Fabrinet – ‘10-K’ on 8/16/22 for 6/24/22

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  As Of               Filer                 Filing    For·On·As Docs:Size

 5/03/22  Fabrinet                          10-Q        3/25/22   88:9.5M

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.12M 
 2: EX-10.1     Material Contract                                   HTML     40K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     29K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     29K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     27K 
11: R1          Cover                                               HTML     79K 
12: R2          Condensed Consolidated Balance Sheets (Unaudited)   HTML    180K 
13: R3          Condensed Consolidated Balance Sheets (Unaudited)   HTML     48K 
                (Parenthetical)                                                  
14: R4          Condensed Consolidated Statements of Operations     HTML    129K 
                and Comprehensive Income (Unaudited)                             
15: R5          Condensed Consolidated Statements of Shareholders'  HTML    106K 
                Equity (Unaudited)                                               
16: R6          Condensed Consolidated Statements of Shareholders'  HTML     27K 
                Equity (Unaudited) (Parenthetical)                               
17: R7          Condensed Consolidated Statements of Cash Flows     HTML    132K 
                (Unaudited)                                                      
18: R8          Condensed Consolidated Statements of Cash Flows     HTML     34K 
                (Unaudited) (Parenthetical)                                      
19: R9          Business and organization                           HTML     29K 
20: R10         Accounting policies                                 HTML     33K 
21: R11         Revenues from contracts with customers              HTML    115K 
22: R12         Earnings per ordinary share                         HTML     47K 
23: R13         Cash, cash equivalents and short-term investments   HTML     83K 
24: R14         Fair value of financial instruments                 HTML    135K 
25: R15         Inventories                                         HTML     33K 
26: R16         Leases                                              HTML     49K 
27: R17         Intangibles                                         HTML     57K 
28: R18         Borrowings                                          HTML     65K 
29: R19         Income taxes                                        HTML     31K 
30: R20         Share-based compensation                            HTML     87K 
31: R21         Shareholders' equity                                HTML     33K 
32: R22         Accumulated other comprehensive income (Loss)       HTML     65K 
33: R23         Commitments and contingencies                       HTML     32K 
34: R24         Business segments and geographic information        HTML     42K 
35: R25         Accounting policies (Policies)                      HTML     47K 
36: R26         Revenues from contracts with customers (Tables)     HTML    115K 
37: R27         Earnings per ordinary share (Tables)                HTML     46K 
38: R28         Cash, cash equivalents and short-term investments   HTML     85K 
                (Tables)                                                         
39: R29         Fair value of financial instruments (Tables)        HTML    131K 
40: R30         Inventories (Tables)                                HTML     34K 
41: R31         Leases (Tables)                                     HTML     51K 
42: R32         Intangibles (Tables)                                HTML     62K 
43: R33         Borrowings (Tables)                                 HTML     62K 
44: R34         Share-based compensation (Tables)                   HTML     87K 
45: R35         Accumulated other comprehensive income (Loss)       HTML     65K 
                (Tables)                                                         
46: R36         Business segments and geographic information        HTML     36K 
                (Tables)                                                         
47: R37         Revenues from contracts with customers - Narrative  HTML     26K 
                (Details)                                                        
48: R38         Revenues from contracts with customers - Schedule   HTML     79K 
                of Disaggregation of Revenue by Geographical                     
                Regions (Details)                                                
49: R39         Revenues from contracts with customers - Schedule   HTML     47K 
                of Revenues by End Market (Details)                              
50: R40         Revenues from contracts with customers - Schedule   HTML     39K 
                of Activity in the Company's Contract Assets and                 
                Liabilities (Details)                                            
51: R41         Earnings per ordinary share (Details)               HTML     60K 
52: R42         Cash, cash equivalents and short-term investments   HTML     57K 
                - Summary of Components of Cash, Cash Equivalents,               
                and Short-Term Investments (Details)                             
53: R43         Cash, cash equivalents and short-term investments   HTML     32K 
                - Narrative (Details)                                            
54: R44         Cash, cash equivalents and short-term investments   HTML     45K 
                - Schedule of Available-for-Sale Securities Based                
                on Stated Effective Maturities (Details)                         
55: R45         Cash, cash equivalents and short-term investments   HTML     33K 
                - Schedule of the Carrying Cost of Short-Term                    
                Investments Classified as Held-to-Maturity                       
                Securities (Details)                                             
56: R46         Fair value of financial instruments - Schedule of   HTML     92K 
                Financial Instruments Measured at Fair Value on                  
                Recurring Basis (Details)                                        
57: R47         Fair value of financial instruments - Narrative     HTML     58K 
                (Details)                                                        
58: R48         Fair value of financial instruments - Schedule of   HTML     52K 
                Impacts of Derivative Gain (Loss) of Cash Flow                   
                Hedges (Details)                                                 
59: R49         Fair value of financial instruments - Schedule of   HTML     47K 
                Derivative Financial Instruments (Details)                       
60: R50         Inventories (Details)                               HTML     35K 
61: R51         Leases - Narrative (Details)                        HTML     33K 
62: R52         Leases - Schedule of Operating Lease Liabilities    HTML     41K 
                (Details)                                                        
63: R53         Leases - Summary of Additional Information Related  HTML     29K 
                to Operating and Finance Lease (Details)                         
64: R54         Leases - Schedule of Supplemental Cash Flow and     HTML     32K 
                Other Information Related to Leases (Details)                    
65: R55         Intangibles - Schedule of Intangible Assets         HTML     42K 
                (Details)                                                        
66: R56         Intangibles - Narrative (Details)                   HTML     27K 
67: R57         Intangibles - Schedule of Weighted-Average          HTML     28K 
                Remaining Life of Intangible Assets (Details)                    
68: R58         Intangibles - Schedule of Estimated Future          HTML     40K 
                Amortization of Intangibles Assets (Details)                     
69: R59         Borrowings - Schedule of Total Borrowings,          HTML     49K 
                Including Revolving and Long-Term Borrowings                     
                (Details)                                                        
70: R60         Borrowings - Schedule of Movements of Long-Term     HTML     31K 
                Loans (Details)                                                  
71: R61         Borrowings - Schedule of Future Maturities of       HTML     39K 
                Long-Term Debt (Details)                                         
72: R62         Borrowings - Narrative (Details)                    HTML     68K 
73: R63         Income taxes (Details)                              HTML     29K 
74: R64         Share-based compensation - Summary of Effect of     HTML     35K 
                Recording Share-Based Compensation Expense                       
                (Details)                                                        
75: R65         Share-based compensation - Schedule of Share-Based  HTML     32K 
                Compensation Expense Recorded in Condensed                       
                Consolidated Statements of Operations and                        
                Comprehensive Income (Details)                                   
76: R66         Share-based compensation - Narrative (Details)      HTML     94K 
77: R67         Share-based compensation - Schedule of Restricted   HTML     51K 
                Share Unit Activity (Details)                                    
78: R68         Share-based compensation - Schedule of Performance  HTML     51K 
                Share Unit Activity (Details)                                    
79: R69         Shareholders' equity (Details)                      HTML     55K 
80: R70         Accumulated other comprehensive income (Loss)       HTML     63K 
                (Details)                                                        
81: R71         Commitments and contingencies (Details)             HTML     44K 
82: R72         Business segments and geographic information -      HTML     39K 
                Schedule of Long-lived Assets by Geographic Areas                
                (Details)                                                        
83: R73         Business segments and geographic information -      HTML     26K 
                Narrative (Details)                                              
86: XML         IDEA XML File -- Filing Summary                      XML    162K 
84: XML         XBRL Instance -- fn-20220325_htm                     XML   2.65M 
85: EXCEL       IDEA Workbook of Financial Reports                  XLSX    102K 
 7: EX-101.CAL  XBRL Calculations -- fn-20220325_cal                 XML    248K 
 8: EX-101.DEF  XBRL Definitions -- fn-20220325_def                  XML    591K 
 9: EX-101.LAB  XBRL Labels -- fn-20220325_lab                       XML   1.66M 
10: EX-101.PRE  XBRL Presentations -- fn-20220325_pre                XML   1.01M 
 6: EX-101.SCH  XBRL Schema -- fn-20220325                           XSD    166K 
87: JSON        XBRL Instance as JSON Data -- MetaLinks              435±   632K 
88: ZIP         XBRL Zipped Folder -- 0001408710-22-000028-xbrl      Zip    350K 


‘EX-10.1’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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Exhibit 10.1

FABRINET
CONSULTING AGREEMENT
This Consulting Agreement (this “Agreement”) is made and entered into as of January 9, 2022 (the “Effective Date”) by and between Fabrinet, an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Company”), and Gregory P. Dougherty (“Consultant”) (each herein referred to individually as a Party,” or collectively as the “Parties”).

In consideration of the mutual promises contained herein, the Parties agree as follows:

1.Services and Compensation

Consultant shall perform the services described in Exhibit A (the “Services”) for the Company (or its designee), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

2.Conflicting Obligations

Consultant represents and warrants that Consultant has no agreements, relationships, or commitments to any other person or entity that conflict with the provisions of this Agreement, Consultant’s obligations to the Company under this Agreement, and/or Consultant’s ability to perform the Services. Consultant will not enter into any such conflicting agreement during the term of this Agreement.

3.Term

The term of this Agreement will begin on the Effective Date of this Agreement and will continue until the one (1) year anniversary of the Effective Date.

4.Independent Contractor; Benefits

A.Independent Contractor. It is the express intention of the Company and Consultant that Consultant perform the Services as an independent contractor to the Company. Nothing in this Agreement shall in any way be construed to constitute Consultant as an agent, employee or representative of the Company. Without limiting the generality of the foregoing, Consultant is not authorized to bind the Company to any liability or obligation or to represent that Consultant has any such authority. Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this Agreement. Consultant agrees to and acknowledges the obligation to pay all self-employment and other taxes on such income.

B.Benefits. The Company and Consultant agree that Consultant will receive no Company-sponsored benefits from the Company where benefits include, but are not limited to, paid vacation, sick leave, medical insurance and 401(k) plan participation.

5.Miscellaneous

A.Governing Law. This Agreement shall be governed by the laws of the State of California, without regard to the conflicts of law provisions of any jurisdiction.






B.Entire Agreement. This Agreement constitutes the entire agreement and understanding between the Parties with respect to the subject matter herein and supersedes all prior written and oral agreements, discussions, or representations between the Parties.

C.Severability. If a court or other body of competent jurisdiction finds, or the Parties mutually believe, any provision of this Agreement, or portion thereof, to be invalid or unenforceable, such provision will be enforced to the maximum extent permissible so as to effect the intent of the Parties, and the remainder of this Agreement will continue in full force and effect.

D.Modification, Waiver. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in a writing signed by the Parties. Waiver by the Company of a breach of any provision of this Agreement will not operate as a waiver of any other or subsequent breach.

E.Signatures. This Agreement may be signed in two counterparts, each of which shall be deemed an original, with the same force and effectiveness as though executed in a single document.

F.Protected Activity Not Prohibited. Consultant understands that nothing in this Agreement shall in any way limit or prohibit Consultant from engaging in any Protected Activity. For purposes of this Agreement, “Protected Activity” shall mean filing a charge, complaint, or report with, or otherwise communicating, cooperating, or participating in any investigation or proceeding that may be conducted by, any federal, state or local government agency or commission, including the Securities and Exchange Commission (“Government Agencies”). Consultant understands that in connection with such Protected Activity, Consultant is permitted to disclose documents or other information as permitted by law, and without giving notice to, or receiving authorization from, the Company. Notwithstanding the foregoing, Consultant agrees to take all reasonable precautions to prevent any unauthorized use or disclosure of any information that may constitute Company confidential information to any parties other than the Government Agencies. Consultant further understands that “Protected Activity” does not include the disclosure of any Company attorney-client privileged communications.

(signature page follows)







IN WITNESS WHEREOF, the Parties hereto have executed this Consulting Agreement as of the date first written above.


 FABRINET
/s/    Gregory DoughertyBy: /s/    Seamus Grady        
Name: Seamus Grady
Title: Chief Executive Officer




EXHIBIT A
SERVICES AND COMPENSATION
1.Services. The Services will include, but will not be limited to, the following: Advise on and assist the Company’s Chief Executive Officer and the Company’s Board of Directors in understanding market trends and technology trends in the electro-optical industry.

2.Compensation.

A.The Company will pay Consultant a cash amount equal to $10,000 per month.

B.The Company previously granted Consultant certain equity awards under the Company’s 2020 Equity Incentive Plan (the “Plan”) and applicable award agreement thereunder, which are outstanding as of the Effective Date (the “Awards”). As provided in such award agreements, so long as Consultant remains a Service Provider (as defined in the Plan), Consultant will continue to vest in such Awards in accordance with the vesting terms and other criteria of the Plan and applicable award agreements governing the terms of such Awards.

C.In order to help prevent adverse tax consequences to Consultant under Section 409A (as defined below), in no event will any payment under Section 3.A. of this Exhibit be made later than the later of (1) March 15th of the calendar year following the calendar year in which such payment was earned, or (2) the 15th day of the third (3rd) month following the end of the Company’s fiscal year in which such payment was earned. All payments and benefits provided for under this Agreement are intended to be exempt from or otherwise comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and formal guidance promulgated thereunder (together, “Section 409A”), so that none of the payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be exempt or so comply. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. In no event will the Company have any responsibility, liability or obligation to reimburse, indemnify, or hold harmless Consultant for any taxes that may be imposed, or other costs incurred, as a result of Section 409A.




Dates Referenced Herein

This ‘10-Q’ Filing    Date    Other Filings
Filed on:5/3/22None on these Dates
For Period end:3/25/22
1/9/22
 List all Filings 


1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/16/22  Fabrinet                          10-K        6/24/22  126:13M
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Filing Submission 0001408710-22-000028   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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