EX-10.1






PLEXUS CORP.




DIRECTOR NONQUALIFIED STOCK OPTION AGREEMENT




	 	 	 
	TO:

	 	

	
 
	 	 
	DATE:

	 	







In order to provide additional incentive through stock ownership for directors of Plexus Corp.
(the “Corporation”), you (the “Grantee”) are hereby granted a Stock Option (“Option”) effective as
of (the “Grant Date”), to purchase shares of the Corporation’s Common Stock at a price per share
of . This Option is subject to the terms and conditions set forth in this Agreement and in the
Plexus Corp. 2005 Equity Incentive Plan (the “Plan”), the terms of which are incorporated herein by
reference.



1. Number of Shares Optioned; Exercise Price. The Corporation grants to Grantee a
nonqualified stock option to purchase, on the terms and conditions hereof and of the Plan, all or
any part of an aggregate of      shares of the Corporation’s Common Stock, $.01 par value,
at the purchase price of $    per share.



2. Period of Exercise. [One of the following alternatives shall be designated. If no
alternative is designated, Alternative 1 shall apply]:



/     / Alternative 1: This option shall become exercisable beginning six months from the date
of grant, regardless of whether the Grantee is still a Director on such date.



/     / Alternative 2: This Option shall become exercisable in accordance with the vesting
schedule established by the Committee at the time of grant and set forth below:



All rights to exercise this option shall terminate upon the earlier of (a) ten (10) years from
the date the option is granted, or (b) one (1) year from the date the Grantee ceases to be a
Director.



3. Method of Exercising Option. Grantee may exercise this option by logging on to
www.etrade.com/stockplans.com or by calling E*Trade at 800.838.0908 in the U.S. or
1.650.599.0125 outside the U.S. The website provides detailed instructions on how to exercise
stock options as well as other relevant information pertaining to the grant. An “insider” is
subject to blackout restrictions which may prevent exercise during certain time periods referred to
as the ‘blackout period”. If you are considered an “insider” you have been notified of the
restrictions via email.



4. No Rights in Shares Until Issued. Neither the Grantee nor Grantee’s heirs,
executor or administrator shall be, or have any of the rights or privileges of, a stockholder of
the Corporation in respect of any of the shares issuable upon the exercise of the option herein
granted, unless and until such shares are fully paid and issued to him/her upon exercise of this
Option.



5. Option Not Transferable During Grantee’s Lifetime. This option shall not be
transferable by Grantee other than by last will and testament or by the laws of descent and
distribution. During Grantee’s lifetime, this option shall be exercisable only by Grantee or
Grantee’s guardian or legal representative. In the event of the Grantee’s death, the personal
representative of the Grantee’s estate or the person or persons to whom the Option is transferred
by will or the laws of descent and distribution may exercise the Option in accordance with its
terms.



6. Effect of Change in Stock. In the event of a reorganization, recapitalization,
stock split, stock dividend, merger, consolidation, rights offering or like transaction, the
Committee shall make or provide for such adjustment in the exercise price of the option or in the
number of kinds of stock covered by the option as it may, in its discretion, deem to be equitable
provided, however, in the event of (a) the merger or consolidation of the Corporation with or into
another corporation or corporations in which the Corporation is not the surviving corporation, (b)
the adoption of any plan for the dissolution of the Corporation, or (c) the sale or exchange of all
or substantially all the assets of the Corporation for cash or for shares of stock or other
securities of another corporation, the Committee may elect to cancel this option. In the event the
option is canceled, the Corporation, or the corporation assuming the obligations of the Corporation
hereunder, shall pay Grantee an amount of cash or stock, as determined by the Committee, equal to
the Fair Market Value per share of the Stock immediately preceding such cancellation over the
option exercise price, multiplied by the number of shares subject to the option.



7. Liquidation. Anything contained herein to the contrary notwithstanding, upon the
complete liquidation of the Corporation, this option shall be canceled.



8. Successors. This agreement shall be binding upon and inure to the benefit of any
successor or successors of the Corporation.



9. Wisconsin Contract. This option has been granted in Wisconsin and shall be
construed under the laws of that state.



To accept this grant, agreement and other linked materials please logon with your user name
and password to www.etrade.com/stockplans.com and select the Stock Options page. This
grant will be listed at the bottom of all prior grants and will be labeled in the status column as
“Requires Acceptance”. Clicking on this link will take you to the Grant Acceptance page which will
allow you to view and print (recommended) all applicable documents related to this grant. To
accept the grant and all applicable documents you will type in your password and click accept. By
accepting this grant online you acknowledge and accept this grant and the terms and conditions.
You also acknowledge receipt of this Stock Option Agreement, a copy of the 2005 Equity Incentive
Plan, and a copy of the Insider Trading Restrictions and Policies. If this grant is not accepted
online within 30 days from the grant date of this Agreement, this Option will be deemed refused and
may be withdrawn.



The terms of the Plan shall have precedence over any terms in this Agreement that are
inconsistent therewith.




PLEXUS CORP.




By: /s/ Joseph D. Kaufman

Secretary