Document:

<PAGE>
                         BRIGGS & STRATTON CORPORATION

               Form 10-Q for Quarterly Period Ended March 31, 2002

                                  Exhibit 10.4

                         AMENDED AND RESTATED LEVERAGED
                              STOCK OPTION PROGRAM

                             Effective July 1, 2002

<PAGE>

                          BRIGGS & STRATTON CORPORATION

                         LEVERAGED STOCK OPTION PROGRAM

               As adopted by the Nominating and Salaried Committee
                of the Board of Directors on August 16, 1993 and
                        amended by resolutions effective
          July 31, 1995, July 1, 1999, July 25, 2001 and July 1, 2002

<PAGE>

                          BRIGGS & STRATTON CORPORATION
                         LEVERAGED STOCK OPTION PROGRAM

1.0      Objectives.

The Leveraged Stock Option Program ("LSO Program") is designed to build upon the
Company's Economic Value Added Incentive Compensation Plan ("EVA Plan") by tying
the interests of all Senior Executives to the long term consolidated results of
the Company. In this way, the objectives of Senior Executives throughout the
Company will be more closely aligned with the Company's Shareholders. Whereas
the EVA Plan provides for near and intermediate term rewards, the LSO Program
provides a longer term focus by allowing Senior Executives to participate in the
long-term appreciation in the equity value of the Company. In general, the LSO
Program is structured such that each year an amount equivalent to the Total
Bonus Payout under the EVA Plan is invested on behalf of Senior Executives in
options on the Company's Stock ("LSOs"). These LSOs become exercisable after
they have been held for three years, and they expire at the end of ten years.
The LSO Program is also structured so that a fair return must be provided to the
Company's Shareholders before the options become valuable.

2.0      Leveraged Stock Option Grant.

For fiscal 1994 and subsequent years, the dollar amount to be invested in LSOs
for each Senior Executive shall be equal to the amount of each Participant's
Total Bonus Payout determined under the EVA Plan as amended effective for fiscal
year 1994. The number of LSOs awarded shall be determined by dividing (a) the
dollar amount of such LSO award by (b) 10% of the Fair Market Value of Company
stock on the date of the grant, as determined by the Committee, rounded (up or
down) to the nearest 10 shares. Fair Market Value is defined in the Company's
Stock Incentive Plan ("SIP Plan").

3.0      Term.

All LSOs shall be exercisable beginning on the third anniversary of the date of
grant. All LSOs granted for fiscal years through June 30, 1999 shall terminate
on the fifth anniversary of the date of grant unless sooner exercised, unless
the Committee determines other dates. All LSOs granted for fiscal years from
July 1, 1999 through June 30, 2002 shall terminate on the seventh anniversary of
the date of grant unless sooner exercised, unless the Committee determines other
dates. All LSOs granted thereafter shall terminate on the tenth anniversary of
the date of grant unless the Committee determines other dates.

4.0      Exercise Price.

Effective for fiscal years commencing July 1, 2002 or later, the exercise price
for LSOs shall be the product of 90% of the Fair Market Value per share as
determined above, times the sum taken to the third

                                       2

<PAGE>

(3rd) power of (a) 1, plus (b) the Estimated Annual Growth Rate, but in no event
may the exercise price be less than Fair Market Value on the date of grant. The
Estimated Annual Growth Rate (intended to represent annual percentage stock
appreciation at least in the amount of the Company's cost of capital, with due
consideration for dividends paid, risk and illiquidity) is the average daily
closing 10 year U.S. Treasury bond yield rate for the month of March immediately
preceding the relevant Plan Year, plus 1%. So,

Exercise Price = (.9 x FMV) x (1 + Estimated Annual Growth Rate)(3)

Example:         $75 share price; 7.85% Estimated Annual Growth Rate (6.85% 10
                 year U.S. Treasury bond rate, plus 1%):
                 $67.50 (90% FMV x (1.0785)(3) = $84.68

5.0      Limitations on LSO Grants and Carryover.

Notwithstanding Section 2, the maximum number of LSOs that may be granted to all
Senior Executives for any Plan Year of this LSO Program, shall be 600,000, and
the maximum number of LSOs that may be granted cumulatively under this LSO
Program shall be 4,539,986. In the event that the 600,000 limitation shall be in
effect for any Plan Year, the dollar amount to be invested for each Senior
Executive shall be reduced by proration based on the aggregate Total Bonus
Payouts of all Senior Executives so that the limitation is not exceeded. The
amount of any such reduction shall be carried forward to subsequent years and
invested in LSOs to the extent the annual limitation is not exceeded in such
years.

6.0      The Stock Incentive Plan.

Except as modified herein, LSOs are Incentive Stock Options under the Company's
SIP Plan as amended from time to time to the extent they are eligible for
treatment as such under Section 422 of the Internal Revenue Code. If not
eligible for ISO Treatment, the LSOs shall constitute nonqualified stock
options. Except as specifically modified herein, LSOs shall be governed by the
terms of the Company's Stock Incentive Plan, and shall be granted as described
in this LSO Program annually unless the Committee modifies or terminates either
the EVA Plan or the SIP Plan. As provided in the SIP Plan, all grants of LSOs to
Participants who are subject to Sec. 16(b) of the Securities Exchange Act of
1934 are subject to approval of the Company Shareholders. In the event such
approval is not obtained, this Program shall terminate.

7.0      Definitions.

All capitalized terms used herein that are not otherwise defined shall have the
same meaning given to them in the Company's Economic Value Added Incentive
Compensation Plan.

                                       3<PAGE>

                 FIRST AMENDMENT TO CREDIT AGREEMENT AND WAIVER

         This FIRST AMENDMENT TO CREDIT AGREEMENT AND WAIVER, dated as of May
13, 2002 (this "First Amendment"), is made in respect of that certain Credit
Agreement dated October 25, 2000 (the "Credit Agreement") by and among PLEXUS
CORP., a Wisconsin corporation (the "Borrower"), the Subsidiary Borrowers from
time to time parties thereto, the institutions from time to time parties thereto
as Lenders (the "Lenders"), and ABN AMRO BANK N.V., as Syndication Agent,
FIRSTAR BANK, N.A., as Documentation Agent, and BANK ONE, NA, having its
principal office in Chicago, Illinois, as Administrative Agent (the "Agent").
Capitalized terms used but not defined herein shall have the meanings given to
such terms in the Credit Agreement.

                                   ARTICLE I.

                          AMENDMENT TO CREDIT AGREEMENT

         1.1 AMENDMENT TO SECTION 1.1. Section 1.1 of the Credit Agreement is
hereby amended by inserting therein the following defined term in appropriate
alphabetical order:

                  "'EBITDAR' means, for any period, on a consolidated basis for
         the Company and its Subsidiaries, the sum of the amounts for such
         period, without duplication, calculated in each case in accordance with
         Agreement Accounting Principles, of (i) EBIT plus (ii) depreciation
         expense to the extent deducted in computing Net Income, plus (iii)
         amortization expense, including, without limitation, amortization of
         goodwill and other intangible assets to the extent deducted in
         computing Net Income, plus (iv) Rentals."

         1.2 AMENDMENT TO SECTION 2.14. Section 2.14 (D)(ii) is hereby amended
by deleting the pricing grid contained therein it in its entirety and
substituting the following pricing grid therefor:

<PAGE>

<TABLE>
<CAPTION>

================================================================================================
                                        GREATER THAN OR    GREATER THAN OR    GREATER THAN OR
  RATIO OF TOTAL    LESS THAN 1.50 TO   EQUAL TO 1.50 TO   EQUAL TO 2.00 TO   EQUAL TO 2.50 TO
   DEBT/ADJUSTED           1.00          1.00 AND LESS      1.00 BUT LESS      1.00 BUT LESS
      EBITDA                           THAN 2.00 TO 1.00  THAN 2.50 TO 1.00  THAN 2.75 TO 1.00
------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------
<S>                      <C>                <C>                <C>                <C>
   Commitment Fee         22.5 bps           25.0 bps           27.5 bps           32.5 bps
------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------
   Applicable
   Eurocurrency          100.0 bps          125.0 bps          137.5 bps          150.0 bps
   Margin
------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------
   Applicable
   Floating Rate           0.0 bps            0.0 bps           12.5 bps           25.0 bps
   Margin
================================================================================================
</TABLE>

         1.3 AMENDMENT TO SECTION 7.3. Section 7.3 (F)(vi) is hereby amended by
deleting the reference to "3.00" in the fourth line thereof and substituting
"2.50" therefor.

         1.4 AMENDMENT TO SECTION 7.4.

         (a) Section 7.4(A) is hereby amended by deleting the reference to
"3.25" in the third line thereof and substituting "2.75" therefor.

         (b) Section 7.4(B) is hereby deleted in its entirety and the following
is substituted therefor:

                  "Minimum Interest Expense Coverage Ratio. The Company shall
         maintain a ratio (the "Interest Expense Coverage Ratio") for any
         applicable period of (i) the sum of (a) EBITDAR for such period plus
         (b) cash and non-cash charges taken in the fiscal year 2002, the
         majority of which were incurred as a result of restructurings in Mexico
         and San Diego, in an amount not to exceed $7,487,000 in the aggregate
         plus (c) other cash and non-cash charges incurred as a result of any
         restructurings (other than those listed in the immediately preceding
         subsection (b)) in an amount not to exceed $7,500,000 in the aggregate,
         of which no more than $3,000,000 may be cash charges, to (ii) the sum
         of (a) Interest Expense for such period plus (b) Rentals for such
         period of greater than 3.00 to 1.00 for each fiscal quarter, calculated
         as of the last day of each fiscal quarter for the four-quarter period
         ending on such day."

                                   ARTICLE II.

                           CONDITIONS TO EFFECTIVENESS

         2.1 Conditions to Effectiveness. This First Amendment shall be
effective when the following conditions are satisfied:

         (a) The Agent shall have received counterparts of the First Amendment
duly executed by the Borrowers and the Required Lenders.

                                       2
<PAGE>

         (b) The Agent shall have received the Reaffirmation of Subsidiary
Guaranty in the form attached hereto as Exhibit A duly executed by each
Subsidiary Guarantor.

         (c) The Agent shall have received from the Borrower an amendment fee in
the amount of 0.10% of the aggregate amount of the Commitments of the Lenders
that execute and deliver this First Amendment prior to 5:00 p.m. (Chicago time)
on the date hereof, for the ratable account of such Lenders.

         (d) The Borrower shall have paid all reasonable, out-of-pocket fees and
expenses of the Agent, including reasonable, out-of-pocket fees and expenses of
counsel incurred in connection with the preparation and negotiation of this
First Amendment.

                                  ARTICLE III.

                         REPRESENTATIONS AND WARRANTIES

         The Borrower hereby represents and warrants that this First Amendment
and the Credit Agreement, as amended hereby, constitute legal, valid and binding
obligations of the Borrower and are enforceable against the Borrower in
accordance with their respective terms, and that after giving effect to this
First Amendment (including, without limitation, the waiver included in Article
IV hereof), no Default has occurred and is continuing.

                                   ARTICLE IV.

                                     WAIVER

          The Borrower has informed the Agent and the Lenders of the Borrower's
failure to comply with Section 7.4(B) of the Credit Agreement for the fiscal
quarter ending March 31, 2002, such failure to comply constituting a Default
under the Credit Agreement (the "Covenant Default"). Subject to the satisfaction
of each of the conditions set forth in Section 2.1 hereof, the Required Lenders
under Section 9.3 of the Credit Agreement hereby waive the Borrower's Covenant
Default.

         If any Default is or shall be continuing under the Credit Agreement
(other than the Covenant Default), the Agent and the Lenders will be under no
obligation to forbear the exercise of their rights and remedies under the Credit
Agreement, the other Loan Documents, applicable law or otherwise. The waivers of
the Lenders set forth herein are limited as specified, and shall not constitute
or be deemed to constitute an amendment, modification or waiver of any provision
of the Credit Agreement or a waiver of any Default except as expressly set forth
herein.

                                       3
<PAGE>

                                   ARTICLE V.

                                  MISCELLANEOUS

         5.1 FULL FORCE AND EFFECT. Except as expressly amended hereby, the
Credit Agreement shall continue in full force and effect in accordance with the
provisions thereof on the date hereof. As used in the Credit Agreement,
"hereinafter," "hereto," "hereof," and words of similar import shall, unless the
context otherwise requires, mean the Credit Agreement after being amended by
this First Amendment. Any reference to the Credit Agreement herein shall refer
to the Credit Agreement as amended hereby.

         5.2 APPLICABLE LAW. This First Amendment shall be governed by and
construed in accordance with the internal laws and judicial decisions of the
State of Illinois.

         5.3 COUNTERPARTS. This First Amendment may be executed in two or more
counterparts, each of which shall constitute an original, but all of which when
taken together shall constitute but one instrument.

         5.4 HEADINGS. The headings of this First Amendment are for the purpose
of reference only and shall not affect the construction of this First Amendment.

                            [Signature Pages Follow]

                                       4
<PAGE>

         IN WITNESS WHEREOF, the Borrowers and the Lenders have caused this
First Amendment to be executed by their duly authorized officers all as of the
day and year first above written.

                               PLEXUS CORP., as the Company

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                                  --------------------------------

                                  --------------------------------

                                  --------------------------------
                                  Attention:
                                            ----------------------
                                  Telephone No.: (___) ___-_______

                                  Facsimile No.: (___) ___-_______

                                       5
<PAGE>

                               BANK ONE, NA (HAVING ITS PRINCIPAL OFFICE IN
                               CHICAGO, ILLINOIS), as Administrative Agent and
                               as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------
                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                        6
<PAGE>

                               ABN AMRO BANK N.V., as Syndication Agent
                               and as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------
                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       7
<PAGE>

                               FIRSTAR BANK, N.A., as Documentation Agent and
                               as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------
                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       8

<PAGE>

                               HARRIS TRUST AND SAVINGS BANK, as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------
                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       9
<PAGE>

                               THE BANK OF TOKYO-MITSUBISHI, LTD.,
                               CHICAGO BRANCH., as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------
                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       10

<PAGE>

                               BNP PARIBAS, as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------

                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       11
<PAGE>

                               FLEET NATIONAL BANK, as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------

                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       12
<PAGE>

                               FIRST UNION NATIONAL BANK, N.A., as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------

                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       13

<PAGE>

                               M&I MARSHALL & ILSLEY BANK N.V., as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------

                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       14
<PAGE>

                               THE ROYAL BANK OF SCOTLAND PLC (formerly known as
                               the NATIONAL WESTMINSTER BANK PLC, NASSAU BRANCH
                               and the NATIONAL WESTMINSTER BANK PLC, NEW YORK
                               BRANCH), as a Lender

                               By:
                                  --------------------------------
                                  Name:
                                  Title:

                               Address:

                               -----------------------------------

                               -----------------------------------

                               -----------------------------------

                               Attention:
                                         -------------------------
                               Telephone No.:  (____) ____-_______
                               Facsimile No.:  (____) ____-_______

                                       15
<PAGE>

                                    EXHIBIT A

                      REAFFIRMATION OF SUBSIDIARY GUARANTY

                  Each of the undersigned hereby acknowledges receipt of a copy
of the foregoing First Amendment to Credit Agreement and Waiver with respect to
that certain Credit Agreement dated as of October 25, 2000 by and among Plexus
Corp., a Wisconsin corporation, the Subsidiary Borrowers from time to time
parties thereto, the institutions from time to time parties thereto as Lenders
(the "Lenders"), and ABN AMRO Bank N.V., as Syndication Agent, Firstar Bank,
N.A., as Documentation Agent, and Bank One, NA, having its principal office in
Chicago, Illinois, as Administrative Agent (the "Agent") (as amended and as the
same may be amended, restated, supplemented or otherwise modified from time to
time, the "Credit Agreement"). Capitalized terms used in this Reaffirmation of
Subsidiary Guaranty and not defined herein shall have the meanings given to them
in the Credit Agreement. Without in any way establishing a course of dealing by
the Agent or any Lender, each of the undersigned reaffirms the terms and
conditions of the Subsidiary Guaranty (the "Subsidiary Guaranty") dated as of
October 25, 2000 by Plexus International Services, Inc., Electronic Assembly
Corp., Technology Group, Inc., Seamed Corporation, Agility Incorporated, Plexus
Services Corp. and Qtron, Inc. (together, the "Subsidiary Guarantors") and any
other Loan Document executed by such Subsidiary Guarantor and acknowledges and
agrees that such agreement and each and every such Loan Document executed by the
undersigned in connection with the Credit Agreement remains in full force and
effect and is hereby reaffirmed, ratified and confirmed.

Dated as of May 13, 2002

                               PLEXUS INTERNATIONAL SERVICES, INC.

                               In each case:

                               By:
                                  --------------------------------
                                  Name:
                                  Its:

                               PLEXUS SERVICES CORP.

                               By:
                                  --------------------------------
                                  Name:
                                  Its:

                               QTRON, INC.

                               By:
                                  --------------------------------
                                  Name:
                                  Its:

                                       16

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