BENCHMARK ELECTRONICS, INC. (NYSE:BHE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

In April 2017, Benchmark Electronics, Inc. (the “Company”) announced plans to relocate its corporate headquarters from Angleton, Texas to the greater Phoenix, Arizona area and to consolidate its corporate staff in Arizona beginning in May 2017.

Jon King, Executive Vice President of Global Operations, will not be relocating to Arizona, but has entered into a new agreement (the “New Agreement”) with the Company to which he will remain employed in a part-time capacity. This New Agreement will become effective upon the hiring of his successor and, except as noted below, will supersede and replace his current employment agreement with the Company dated December 1, 2005 (the “Old Agreement,” a copy of which is filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2015). The New Agreement will remain in effect until Mr. King’s scheduled retirement in October 2020. Mr. King will receive his current base salary for the remainder of 2017, as well as an annual bonus. Commencing January 1, 2018, his annual base salary will be $144,000, and he will not be eligible to receive an annual bonus or any additional equity-based incentive compensation. Mr. King’s outstanding equity awards will continue to vest in accordance with their terms so long as he continues his employment. Mr. King’s employment transition is conditioned on his execution of a release of any claims against the Company. Mr. King will remain subject to the non-competition, non-solicitation and confidentiality covenants set forth in the Old Agreement.

Greg Cominos, Executive Vice President of Sales & Marketing, also will not be relocating to Arizona. The Company has terminated Mr. Cominos’s employment. The termination was not for “Cause,” as that term is defined in his severance agreement with the Company, dated August 26, 2015 (a form of which is filed as Exhibit 10.15 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2015). Mr. Cominos will receive the compensation contemplated in that agreement, which is also described in the Company’s proxy statement filed in connection with its 2017 annual meeting of shareholders. The payment of such compensation is contingent on Mr. Cominos’s execution of a release of any claims against the Company and his compliance with the non-competition, non-solicitation and confidentiality covenants set forth in that agreement.

About BENCHMARK ELECTRONICS, INC. (NYSE:BHE)

Benchmark Electronics, Inc. is a provider of integrated electronic manufacturing services. The Company provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products. It has three segments: the Americas, Asia and Europe. It offers integrated design and manufacturing services. Its operations consist of over three principal areas: manufacturing and assembly operations, including printed circuit boards assemblies and subsystem assembly, box build and systems integration; precision technology manufacturing, which include precision machining, metal joining, assembly and functional testing, and specialized engineering services, and specialized engineering services, such as product design, printed circuit board layout, prototyping, automation and test development.

BENCHMARK ELECTRONICS, INC. (NYSE:BHE) Recent Trading Information

BENCHMARK ELECTRONICS, INC. (NYSE:BHE) closed its last trading session up +0.15 at 32.40 with 300,756 shares trading hands.