Compensation Arrangement between Flextronics International Ltd. and Werner Widmann

Exhibit 10.03

Compensation Arrangement between Flextronics International Ltd. and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇

▇▇▇▇▇▇ ▇▇▇▇▇▇▇, President of our Multek business unit and a newly-identified named executive officer, receives an annual base salary of €312,500 and is eligible to receive a bonus of up to a maximum of 100% of base salary. The actual bonus paid, if any, to ▇▇. ▇▇▇▇▇▇▇ is based on Multek’s performance.