Exhibit
10.20

    IEC
Electronics Corp.

    Summary
of Long-Term Incentive Plan


    


    The purpose of the Long-Term Incentive
Plan ("LTIP") is to motivate the Named Executive Officers and certain designated
key employees (collectively, the "Participants") to enhance the long-term value
of the Company by providing opportunities for the Participants to participate in
stockholder gains and by rewarding them for achieving a high level of corporate
financial performance.  The LTIP is also designed to help attract and
retain talented personnel with outstanding abilities and skills.  The
LTIP is an equity-based program and by using a mix of stock options and
restricted stock, the Company is enabling and encouraging the Participants to
increase their ownership in the Company.

    


    The LTIP measures Company performance
over a one-year fiscal period and the equity award ("Equity Award") is paid out
at the end of the fiscal period based on the attainment of the pre-established
performance goals ("Performance Goals").  The Equity Award is paid out
in stock options or in restricted stock.

    


    The Performance Goals for fiscal 2009
are based on two metrics which the Compensation Committee believes are key to
the Company's long-term financial success - Net Income before Tax and Return on
Sales.  Each Performance Goal is weighted 50%.

    


    If the targets for each of the
Performance Goals are achieved, an Equity Award equal to a predetermined
percentage (varying from 10% to 40%) of the Participant's base salary earned
during the fiscal year will be paid to the Participant (the "Equity Target
Award").  The incentive percentage of a Participant is based upon his
or her position within the Company.  The amount of the Equity Award to
be granted to a Participant will be based on the closing price of the Company's
common stock on the date of grant rather than on a fixed number of
shares.  Below the achievement of a threshold or minimum corporate
level of performance ("Plan Entry"), no Equity Awards will be
made.  If the threshold or minimum corporate performance level is
achieved or exceeded, but the target corporate performance level is not
achieved, a pro rata Equity Award, but less that the Equity Target Award, will
be paid to each Participant.  If the targets for the Performance Goals
are surpassed, Equity Awards will increase depending on the percentage of the
targets achieved.  However, no Equity Award to a Participant may
exceed 150% of the Equity Target Award.

     

    
      
         

      

      
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    After the end of the fiscal year, the
Compensation Committee will determine the extent to which the Performance Goals
were achieved and approve the amount of the Equity Award to be paid to each
Participant.  All Equity Awards will be issued under the Company's
2001 Stock Option and Incentive Plan (the "2001 Plan").  The
Compensation Committee, in its sole discretion, may pay the Equity Award in
stock options or in restricted stock (or in a combination
thereof).  The exercise price of stock options granted and the value
of restricted stock awarded will be the price of a share of the Company's common
stock as of the close of business on the grant date.  For purposes of
the LTIP, the grant date is the date on which the Compensation Committee
approves the Equity Awards.  All Equity Awards shall be evidenced by
an Award Agreement in the manner set forth in the 2001 Plan.  Stock
options shall be subject to a five year vesting period - no vesting in the first
two years and 1/3 of the option vesting on successive anniversaries of the grant
date in each of the next three years.  The restricted stock shall be
subject to a five-year period of restriction, during which period the restricted
stock may not be sold or otherwise transferred.  The restrictions will
lapse as follows:  1/2 of the shares after two years from the date the
restricted stock is granted and 1/2 of the shares after five years from the date
the restricted stock is granted.  If a Participant's employment with
the Company is terminated for any reason whatsoever, other than death,
disability, retirement or change in control, before the expiration of the
restrictive period and before the lapse of restrictions, the restricted stock
shall be deemed forfeited by the Participant and shall be returned to or
cancelled by the Company.  The Award Agreements may contain such other
terms and conditions deemed appropriate by the Compensation
Committee.  Such provisions need not be uniform among all grants of
stock options or restricted stock or among all Participants.  The
Compensation Committee may, at its discretion, authorize the Company to pay or
reimburse a Participant the amount of any income taxes the Participant incurs
with the award of restricted stock.

    


    Payment of any Equity Award to a
Participant based upon the degree of attainment of the applicable Performance
Goals will be made within fifteen (15) days after receipt by the Company of the
audited financial statements for Fiscal 2009.  In order to receive an
Equity Award, a Participant must be an employee of the Company on the date such
Equity Award is granted.


    
      
         


      

      
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