Document:

EX-10.2

Exhibit 10.2

Amended and restated as of August 28, 2008

PLEXUS CORP.

2005 EQUITY INCENTIVE PLAN

	1.	 	Introduction.

	 	(a)	 	Purposes. The purposes of the 2005 Equity Incentive Plan are to provide
a means to attract and retain talented personnel and to provide to participating
directors, officers and other key employees long-term incentives for high levels of
performance and for successful efforts to improve the financial performance of the
corporation. These purposes may be achieved through the grant of options to purchase
Common Stock of Plexus Corp., the grant of Stock Appreciation Rights and the grant of
Restricted Stock, as described below.
	 
	 	(b)	 	Effect on Prior Plans. If the 2005 Plan is approved by shareholders, no
further awards will be granted under the Plexus Corp. 1998 Stock Option Plan (the “1998
Plan”) or the Plexus Corp. 1995 Directors’ Stock Option Plan (the “1995 Plan”). Options
granted previously under the 1998 Plan and the 1995 Plan will remain in effect until
they have been exercised or have expired. The options shall be administered in
accordance with their terms and the plans.

	2.	 	Definitions.

	 	(a)	 	“1934 Act” means the Securities Exchange Act of 1934, as it may be amended from time to
time.
	 
	 	(b)	 	“Award” means an Incentive Stock Option, Non-Qualified Stock Option, Stock
Appreciation Right or Restricted Stock grant, as appropriate.
	 
	 	(c)	 	“Award Agreement” means the agreement between the Corporation and the Grantee
specifying the terms and conditions as described thereunder.
	 
	 	(d)	 	“Board” means the Board of Directors of Plexus Corp.
	 
	 	(e)	 	“Change in Control” means an event which shall be deemed to have occurred in
the event that any person, entity or group shall become the beneficial owner of such
number of shares of Common Stock, and/or any other class of stock of the Corporation
then outstanding that is entitled to vote in the election of directors (or is
convertible into shares so entitled to vote) as together possess more than 50% of the
voting power of all of the then outstanding shares of all such classes of stock of the
Corporation so entitled to vote. For purposes of the preceding sentence, “person,
entity or group” shall not include (i) any employee benefit plan of the Corporation, or
(ii) any person, entity or group which, as of the Effective Date of this Plan, is the
beneficial owner of such number of shares of Common Stock and/or such other class of
stock of the Corporation as together possess 5% of such voting power; and for these
purposes “group” shall mean persons who act in concert as described in Section 14(d)(2)
of the 1934 Act.
	 
	 	(f)	 	“Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.
	 
	 	(g)	 	“Committee” means the committee described in Article 4 or the person or persons
to whom the committee has delegated its power and responsibilities under Article 4.
	 
	 	(h)	 	“Common Stock” or “Stock” means the common stock of the Corporation having a par value
of $.01 per share.

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	 	(i)	 	“Corporation” means Plexus Corp., a Wisconsin corporation.
	 
	 	(j)	 	“Fair Market Value” means for purposes of the Plan an amount deemed to be equal
to the mean between the highest and lowest sale prices on such date, or an average of trading
days, as determined by the Committee, for sales made and reported through the
National Market System of the National Association of Securities Dealers or such
national stock exchange on which such Stock may then be listed and which constitutes
the principal market for such Stock, or, if no sales of Stock shall have been
reported with respect to that date, on the next preceding date with respect to which
sales were reported. Notwithstanding the foregoing, the Committee may base the
determination of Fair Market Value on an average of trading days only if the
requirements for the use of such methodology prescribed by applicable guidance under
Section 409A of the Code are satisfied.
	 
	 	(k)	 	“Grant Date” means the date on which an Award is deemed granted, which shall be the date
on which the Committee authorizes the Award or such later date as the Committee shall
determine in its sole discretion.
	 
	 	(l)	 	“Grantee” means an individual who has been granted an Award.
	 
	 	(m)	 	“Incentive Stock Option” means an option that is intended to meet the
requirements of Section 422 of the Code and regulations thereunder.
	 
	 	(n)	 	“Non-Qualified Stock Option” means an option other than an Incentive Stock Option.
	 
	 	(o)	 	“Option” means an Incentive Stock Option or Non-Qualified Stock Option, as appropriate.
	 
	 	(p)	 	“Performance Goal” means a performance goal established by the Committee prior to the
grant of any Award of Restricted Stock that is based on the attainment of goals relating to
one or more of the following business criteria measured on an absolute basis or in
terms of growth or reduction: net income (pre-tax or after-tax and with adjustments
as stipulated), earnings per share, return on equity, return on capital employed,
return on assets, return on tangible book value, operating income, earnings before
depreciation, interest, taxes and amortization (EBDITA), loss ratio, expense ratio,
increase in stock price, total shareholder return, economic value added and
operating cash flow.
	 
	 	(q)	 	“Plan” means the Plexus Corp. 2005 Equity Incentive Plan as set forth herein, as it may
be amended from time to time.
	 
	 	(r)	 	“Rule 16b-3” means Rule 16b-3 promulgated under the 1934 Act, and any future regulation
amending or superseding such regulation.
	 
	 	(s)	 	“Restricted Stock” means shares or units of Common Stock which are subject to
restrictions established by the Committee.
	 
	 	(t)	 	“Stock Appreciation Right” or “SAR” means the right to receive cash or shares of Common
Stock in an amount equal to the excess of the Fair Market Value of one share of Common
Stock on the date the SAR is exercised over (1) the Fair Market Value of one share
of Common Stock on the Grant Date or (2) if the SAR is related to an Option, the
purchase price of a share of Common Stock specified in the related Option.

	3.	 	Shares Subject to Option.

          The number of shares of Common Stock of the Corporation which may be issued under the
Plan shall not exceed 2,700,000 shares, which shall consist of approximately 700,000 shares that
were authorized but are unissued under the 1998 Plan and the 1995 Plan plus an additional 2,000,000
shares. The aggregate number of shares of

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Common Stock available under the Plan shall be subject to adjustment as set forth in Article 18
hereunder. Shares issued under the Plan may come from authorized but unissued shares, from treasury
shares held by the Corporation, from shares purchased by the Corporation on an open market for such
purpose, or from any combination of the foregoing. If any Award granted under this Plan is
canceled, terminates, expires, or lapses for any reason, any shares subject to such Award again
shall be available for the grant of an Award under the Plan.

	4.	 	Administration of the Plan.

          For purposes of the power to grant Awards to directors, the Committee shall consist of the
entire Board. For other Plan purposes, the Plan shall be administered by the Compensation and
Leadership Development Committee of the Board, or any other committee the Board may subsequently
appoint to administer the Plan, as herein described. The Committee shall have full and final
authority, in its discretion, but subject to the express provisions of the Plan to:

	 	(a)	 	grant Awards, to determine the terms of each Award, the individuals to whom,
the number of shares subject to, and the time or times at which, Awards shall be
granted;
	 
	 	(b)	 	interpret the Plan;
	 
	 	(c)	 	prescribe, amend and rescind rules and regulations relating to the Plan;
	 
	 	(d)	 	determine the terms and provisions of the respective agreements (which need not
be identical) by which Awards shall be evidenced;
	 
	 	(e)	 	make all other determinations deemed necessary or advisable for the administration of
the Plan;
	 
	 	(f)	 	require withholding from or payment by a Grantee of any federal, state or local taxes;
	 
	 	(g)	 	impose, of any Grantee, such additional conditions, restrictions and
limitations upon exercise and retention of Awards as the Committee shall deem
appropriate;
	 
	 	(h)	 	treat any Grantee who retires as a continuing employee for purposes of the Plan; and
	 
	 	(i)	 	modify, extend or renew any Award previously granted; provided, however, that this
provision
shall not provide authority to reprice Awards to a lower exercise price.

          Any action of the Committee with respect to the administration of the Plan shall be taken
pursuant to a majority vote or by the unanimous written consent of its members. The Committee may
delegate all or any part of its responsibilities and powers to any executive officer or officers
of the Corporation selected by it. Any such delegation may be revoked by the Board or by the
Committee at any time.

	5.	 	Option Participation.

          Options may be granted to directors, officers and key employees of the Corporation and any of
its subsidiaries; provided, however that a maximum of 2,700,000 shares of stock may be issued
pursuant to the exercise of Incentive Stock Options and no individual can be granted an Option or
Options covering, in the aggregate, more than 200,000 shares of Stock in any calendar year. In
selecting the individuals to whom Options shall be granted, as well as in determining the number
of Options granted, the Committee shall take into consideration such factors as it deems relevant
pursuant to accomplishing the purposes of the Plan. A Grantee may, if he is otherwise eligible, be
granted an additional Option or Options if the Committee shall so determine.

	6.	 	Granting of Options.

          The officers of the Corporation are authorized and directed, upon receipt of notice from the
Committee of the granting of an Option, to sign and deliver on behalf of the Corporation, by mail
or otherwise, to the Grantee an

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Option upon the terms and conditions specified under the Plan and in the form of the Award
Agreement. The Award Agreement shall be dated and signed by an officer of the Corporation as of the
date of approval of the granting of an Option by the Committee. If the Grantee fails to sign and
return the Award Agreement, by delivery or by mailing, within 30 days after the date of its
delivery or mailing to him, the Option grant may be deemed withdrawn.

	7.	 	Option Price.

          The purchase price of the Common Stock covered by each Option shall be not less than
the Fair Market Value of such Stock on the Grant Date. Such price shall be subject to adjustment as
provided in Article 16 hereof.

	8.	 	Option Designation.

          At the time of the grant of each Option, the Committee shall designate the Option as
(a) an Incentive Stock Option or (b) a Non-Qualified Stock Option, as described in Sections (a) and
(b) below, respectively.

	 	(a)	 	Incentive Stock Options: Any Option designated as an Incentive Stock
Option shall comply with the requirements of Section 422 of the Code, including the
requirement that incentive stock options may only be granted to individuals who are
employed by the Corporation, a parent or a subsidiary corporation of the Corporation.
If an Option is so designated, the Fair Market Value (determined as of the Grant Date)
of the shares of Stock with respect to which that and any other Incentive Stock Option
first becomes exercisable during any calendar year under this Plan or any other stock
option plan of the Corporation or its affiliates shall not exceed $100,000; provided,
however, that the time or times of exercise of an Incentive Stock Option may be
accelerated pursuant to Article 12, 13 or 18 hereof, terms of the Plan and, in the
event of such acceleration, such Incentive Stock Option shall be treated as a
Non-Qualified Option to the extent that the aggregate Fair Market Value (determined as
of the Grant Date) of the shares of stock with respect to which such Option first
becomes exercisable in the calendar year (including Options under this Plan and any
other Plan of the corporation or its affiliates) exceeds $100,000, the extent of such
excess to be determined by the Committee taking into account the order in which the
Options were granted, or such other factors as may be consistent with the requirements
of Section 422 of the Code and rules promulgated thereunder. Furthermore, no Incentive
Stock Option shall be granted to any individual who, immediately before the Option is
granted, directly or indirectly owns (within the meaning of Section 425(d) of the Code,
as amended) shares representing more than 10% of the total combined voting power of all
classes of stock of the Corporation or its subsidiaries, unless, at the time the option
is granted, and in accordance with the provisions of Section 422, the option price is
110% of the Fair Market Value of shares of Stock subject to the Option and the Option
must be exercised within 5 years of the Grant Date.
	 
	 	(b)	 	Non-Qualified Stock Options: All Options not subject to or in
conformance with the additional restrictions required to satisfy Section 422 shall be
designated Non-Qualified Stock Options.

	9.	 	Stock Appreciation Rights.

          The Committee may, in its discretion, grant SARs to directors, officers and key
employees of the Corporation and any of its subsidiaries. The maximum number of SARs which may be
granted under the Plan shall be 600,000 and the maximum number of SARs that can be granted to any
Grantee in any calendar year shall be 200,000. If any unexercised SAR for any reason terminates or
expires in whole or in part prior to termination of the Plan, such unexercised SARs shall become
available for granting under the Plan. The Committee may grant SARs at any time and from time to
time to any Grantee, designate such SARs as related to Options then being granted or granted
within six months prior to the Grant Date of the SAR, and set such terms and conditions upon the
exercise of the SARs as it may determine in its discretion, provided that the written agreement
evidencing such SARs shall comply with and be subject to the following terms and conditions:

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	 	(a)	 	No SAR granted hereunder shall be exercisable until the expiration of six
months from the Grant Date of the SAR unless the Grantee terminates employment by
reason of death or disability prior to the expiration of such six-month period.
	 
	 	(b)	 	A Grantee’s right to exercise an SAR shall terminate when the Grantee is no
longer an employee of the Corporation or any of its subsidiaries unless such right is
extended as provided under Article 13 hereunder.
	 
	 	(c)	 	In the event adjustments are made to the number of shares, exercise price, or
time or times of exercise of outstanding Options upon the occurrence of an event
described in Article 16 hereunder, appropriate adjustments shall be made in the number
of SARs available for future grant, the number of SARs under existing grants, the
exercise price of the existing SARs, and the time or times of exercise of such SARs.
	 
	 	(d)	 	Unless the written agreement expressly provides otherwise, if and to the extent
an SAR is granted in relation to an Option, exercise of the SAR or Option shall result
in the extinguishment of the related right to the extent such SAR or Option for shares
is exercised.
	 
	 	(e)	 	Unless the written agreement expressly provides otherwise, any SARs granted
shall be exercisable in accordance with Article 12.
	 
	 	(f)	 	Upon the exercise of SARs, the Grantee shall be entitled to receive an amount
determined by multiplying (1) the difference obtained by subtracting the Fair Market
Value of the share of Common Stock as of the Grant Date of the SAR or, in the case of a
SAR which is related to an Option, the purchase price per share of Common Stock under
such Option, from the Fair Market Value of a share of Common Stock on the date of
exercise, by (2) the number of SARs exercised. At the discretion of the Committee, the
payment upon the exercise of the SARs may be in cash, in shares of Common Stock of
equivalent value, or in some combination thereof.

	10.	 	Non-transferability of Options and SARs.

          Any Option or SAR granted hereunder shall, by its terms, be non-transferable by a
Grantee other than by will or the laws of descent and shall be exercisable during the Grantee’s
lifetime solely by the Grantee or the Grantee’s duly appointed guardian or personal representative.
Notwithstanding the foregoing, the Committee may permit a Grantee to transfer a Non-Qualified Stock
Option or SAR to a family member or a trust or partnership for the benefit of a family member, in
accordance with rules established by the Committee.

	11.	 	Substituted Options or SARs.

          In the event the Committee cancels any Option or SAR granted under this Plan, and a
new Option or SAR is substituted therefore, the Grant Date of the canceled Option or SAR (except
to the extent inconsistent with the restrictions described in Article 8 and 22, if applicable)
shall be the date used to determine the earliest date for exercising the new substituted Option
under Article 12 hereunder so that the Grantee may exercise the substituted Option or SAR at the
same time as if the Grantee had held the substituted Option or SAR since the Grant Date of the
canceled Option. Notwithstanding the foregoing, nothing in this Section 11 shall provide authority
to substitute Awards in a manner which will have the effect of repricing Awards to a lower
exercise price.

	12.	 	Exercise and Term of Option and SAR.

          The Committee shall have the power to set the time or times within which each Option
and SAR shall be exercisable, and to accelerate the time or times of exercise. Unless the Award
Agreement expressly provides otherwise, each Option or SAR granted to an outside director shall
become exercisable six months from the Grant Date, regardless of whether the Grantee is still a
director on such date, and each Option or SAR granted to any other individual shall become
exercisable in accordance with the following schedule:

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	Years After	 	Percentage of Shares
	Grant Date	 	or SARs
	Less than 1
	 	 	0	%
	 
	 	 	 	 
	1 but less
than 2
	 	 	33-1/3	%
	 
	 	 	 	 
	2 but less
than 3
	 	 	66-2/3	%
	 
	 	 	 	 
	3 but less
than 10
	 	 	100	%

If an SAR is related to an Option, the Grant Date of such SAR for purposes of this Article 12
shall be the Grant Date of the related Option. No Option or SAR may be exercised if in the opinion
of counsel for the Corporation the issuance or sale of Stock or payment of cash by the
Corporation, as appropriate, pursuant to such exercise shall be unlawful for any reason, nor after
the expiration of 10 years from the Grant Date. In no event shall the Corporation be required to
issue fractional shares upon the exercise of an Option.

	13.	 	Effect of Termination of Employment, Disability or Death.

          Unless otherwise provided herein or in a specific Option or SAR Agreement which may provide
longer or shorter periods of exercisability, no Option or SAR shall be exercisable after the
expiration of the earliest of

	 	(i)	 	in the case of an Incentive Stock Option:

          (1) 10 years from the date the option is granted, or five years from the date
the option is granted to an individual owning (after the application of the family
and other attribution rules of Section 424(d) of the Code) at the time such option
was granted, more than 10% of the total combined voting power of all classes of
stock of the Corporation,

          (2) three months after the date the Grantee ceases to perform services for
the Corporation or its subsidiaries, if such cessation is for any reason other
than death, disability (within the meaning of Code Section 22(e)(3)), or cause,

          (3) one year after the date the Grantee ceases to perform services for the
Corporation or its subsidiaries, if such cessation is by reason of death or
disability (within the meaning of Code Section 22(e)(3)), or

          (4) the date the Grantee ceases to perform services for the Corporation or its
subsidiaries, if such cessation is for cause, as determined by the Board or the
Committee in its sole discretion;

	 	(ii)	 	in the case of a Nonqualified Stock Option or SAR:

          (1) 10 years from the date of grant,

          (2) ninety days after the date the Grantee ceases to perform services for
the Corporation or its subsidiaries, if such cessation is for any reason other
than death, permanent disability, retirement or cause,

          (3) one year after the date the Grantee ceases to perform services for the
Corporation or its subsidiaries, if such cessation is by reason of death or
permanent disability,

          (4) three years after the date the Grantee ceases to perform services for
the Corporation or its subsidiaries, if such cessation is by reason of the
Grantee’s retirement in

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accordance with normal Corporation retirement practices, as determined by the
Committee in its sole discretion; or

          (5) the date the Grantee ceases to perform services for the Corporation or
its
subsidiaries, if such cessation is for cause, as determined by the Board or the
Committee in its sole discretion;

provided, that, unless otherwise provided in a specific grant agreement or determined by the
Committee, an Option or SAR shall only be exercisable for the periods above following the date an
optionee ceases to perform services to the extent the option was exercisable on the date of such
cessation. For purposes of this Article, termination shall be deemed to have been for cause if
such termination shall have been for misconduct or negligence by Grantee in the performance of his
duties. Notwithstanding the foregoing, no Option or SAR shall be exercisable after the date of
expiration of its term.

	14.	 	Method of Exercise.

          To the extent that the right to purchase shares pursuant to an Option or to exercise an SAR
has accrued hereunder, such Option or SAR may be exercised as follows:

	 	(a)	 	Options: Options may be exercised from time to time by written notice
to the Corporation stating the number of shares being purchased and accompanied by the
payment in full of the Option price for such shares. Such payment shall be made in
cash, outstanding shares of the Common Stock which the Grantee, the Grantee’s spouse or
both have beneficially owned for at least six months prior to the time of exercise, or
in combinations thereof. If shares of Common Stock are used in part or full payment for
the shares to be acquired upon exercise of the Option, such shares shall be valued for
the purpose of such exchange as of the date of exercise of the Option at the Fair
Market Value of the shares.
	 
	 	(b)	 	SARs: SARs may be exercised from time to time only upon receipt by
the Corporation of a written notice of election which shall be dated the date of such
election which shall be deemed to be the date when such notice is sent by registered or
certified mail or the date upon which receipt is acknowledged by the Corporation if
hand delivered or sent other than by such mail.

	15.	 	Restricted Stock Awards.

          The Committee may, in its discretion, grant Restricted Stock to directors, officers and key
employees of the Corporation and any of its subsidiaries. Restricted Stock Awards may consist of
shares issued subject to forfeiture if specified conditions are not satisfied (“Restricted Stock
Shares”) or agreements to issue shares of Common Stock in the future if specified conditions are
satisfied (“Restricted Stock Units”). The maximum number of shares of Restricted Stock which may be
granted under the Plan shall be 600,000 and the maximum number of shares of Restricted Stock that
can be granted to any Grantee in any calendar year shall be 200,000. The Committee may condition
the grant of Restricted Stock upon the attainment of Performance Goals so that the grant qualifies
as “performance-based compensation” within the meaning of Section 162(m) of the Code. The Committee
may also condition the grant of Restricted Stock upon such other conditions, restrictions and
contingencies as the Committee may determine. The provisions of Restricted Stock Awards need not be
the same with respect to each recipient. Restricted Stock Awards shall be subject to the following
terms and conditions:

	 	(a)	 	Each Restricted Stock Award shall be confirmed by, and be subject to the
terms of, an Award Agreement identifying the restrictions applicable to the Award.
	 
	 	(b)	 	Until the applicable restrictions lapse or the conditions are satisfied,
the Grantee shall not be permitted to sell, assign, transfer, pledge or otherwise
encumber the Restricted Stock Award.

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	 	(c)	 	Except to the extent otherwise provided in the applicable Award Agreement and (d)
below, the portion of the Restricted Stock Award still subject to restriction shall be
forfeited by the Grantee upon termination of the Grantee’s service for any reason.
	 
	 	(d)	 	In the event of hardship or other special circumstances of a Grantee whose service is
terminated (other than for cause), the Committee may waive in whole or in part any or all
remaining restrictions with respect to such Grantee’s Restricted Stock Award.
	 
	 	(e)	 	If and when the applicable restrictions lapse, unlegended certificates for such shares
shall be delivered to the Grantee.
	 
	 	(f)	 	A Grantee receiving an Award of Restricted Stock Shares shall have all of the rights of
a shareholder of the Corporation, including the right to vote the shares and the right to
receive any cash dividends. Unless otherwise determined by the Committee, cash dividends
shall be paid in cash and dividends payable in stock shall be paid in the form of
additional Restricted Stock Shares.
	 
	 	(g)	 	A Grantee receiving an Award of Restricted Stock Units shall not be deemed the holder
of any shares covered by the Award, or have any rights as a shareholder with respect
thereto, until such shares are issued to him/her.

	16.	 	Withholding.

          The Corporation shall have the power and the right to deduct or withhold, or require a Grantee
to remit to the Corporation, an amount sufficient to satisfy Federal, state, and local taxes
(including the Grantee’s FICA obligation) required by law to be withheld with respect to any
taxable event arising or as a result of this Plan. With respect to withholding required upon the
exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock, Grantees may
elect, subject to the approval of the Committee, to satisfy the withholding requirement, in whole
or in part, by having the Corporation withhold shares having a Fair Market Value on the date the
tax is to be determined equal to the minimum statutory total tax which could be imposed on the
transaction.

	17.	 	Deferral of Awards.

          The Committee may permit a Grantee to defer such Grantee’s receipt of the payment of cash or
the delivery of Shares that would otherwise be due to such Participant by virtue of the exercise of
the Option, or SAR, the lapse or waiver of restrictions with respect to Restricted Stock. If any
such deferral election is required or permitted, the Committee shall, in its sole discretion,
establish rules and procedures for such payment deferrals.

	18.	 	Effect of Change in Stock Subject to Plan.

          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 number of and class of shares which may be delivered under the Plan, and in the
number and class of and/or price of shares subject to outstanding Options, SARs, and Restricted
Stock granted under the Plan as it may, in its discretion, deem to be equitable; provided, however,
in the event of the merger or consolidation of the Corporation with or into another corporation or
corporations in which the Corporation is not the surviving corporation, the adoption of any plan
for the dissolution of the Corporation, or 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, subject to the approval of the Board of Directors of the
Corporation, or the board of directors of any corporation assuming the obligations of the
Corporation hereunder, take action regarding each outstanding and unexercised Option pursuant to
either clause (a) or (b) below:

	 	(a)	 	Appropriate provision may be made for the protection of such Option by the substitution
on an equitable basis of appropriate shares of the surviving corporation, provided that the
excess of the aggregate Fair Market Value of the shares subject to such option immediately
before such

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	 	 	 	substitution over the exercise price thereof is not more than the excess of the
aggregate fair market value of the substituted shares made subject to option
immediately after such substitution over the exercise price thereof; or
	 
	 	(b)	 	The Committee may cancel such option. In the event any Option is canceled, the
Corporation, or the corporation assuming the obligations of the Corporation hereunder,
shall pay the employee an amount of cash (less normal withholding taxes) equal to the
excess of the Fair Market Value per share of the Stock immediately preceding the
cancellation over the option exercise price, multiplied by the number of shares subject to
such option. In the event any SAR is canceled, the Corporation, or the corporation assuming
the obligations of the Corporation hereunder, shall pay the Grantee an amount of cash or
stock, as determined by the Committee, equal to the excess of the Fair Market Value per
share of the Stock immediately preceding the cancellation over the exercise price,
multiplied by the number of shares subject to such SAR.

          Notwithstanding anything to the contrary, in the event a Change in Control should occur, all
Options or SARs granted hereunder to a Grantee shall become immediately exercisable upon the later
of the date of the Change in Control or six months after the date the respective Option or SAR was
granted. Further, the Committee shall have the right to cancel such Options or SARs and pay the
Grantee an amount determined under (b) above.

	19.	 	Liquidation.

          Upon the complete liquidation of the Corporation, any unexercised Options and SARs theretofore
granted under this Plan shall be deemed canceled.

	20.	 	No Employment or Retention Agreement Intended.

          Neither the establishment of, nor the awarding of Awards under this Plan shall be construed to
create a contract of employment or service between any Grantee and the Corporation or its
subsidiaries; nor does it give any Grantee the right to continued service in any capacity with the
Corporation or its subsidiaries or limit in any way the right of the Corporation or its
subsidiaries to discharge any Grantee at any time and without notice, with or without cause, or to
any benefits not specifically provided by this Plan, or in any manner modify the Corporation’s
right to establish, modify, amend or terminate any profit sharing or retirement plans.

	21.	 	Shareholder Rights.

          Grantee shall not, by reason of any Options granted hereunder, have any right of a shareholder
of the Corporation with respect to the shares covered by his Options until shares of Stock have
been issued to him.

	22.	 	Controlling Law.

          The law of the State of Wisconsin, except its law with respect to choice of law, shall be
controlling in all matters relating to the Plan.

	23.	 	Indemnification.

          In addition to such other rights of indemnification as they may have, the members of the
Committee and other Corporation employees administering the Plan and the Board members shall be
indemnified by the Corporation against the reasonable expenses, including attorneys’ fees actually
and necessarily incurred in connection with the defense of any action, suit or proceeding, or in
connection with any appeal therein, to which they or any of them may be a party by reason of any
action taken or failure to act under or in connection with the Plan or any Option granted
thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is
approved by independent legal counsel selected by the Corporation) or paid by them in satisfaction
of a judgment in any such action, suit or proceeding, except in relation to matters as to which it
shall be adjudged in such action, suit or proceeding that such member acted in bad faith in the
performance of his duties; provided that within

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20 days after institution of any such action, suit or proceeding, the member shall in writing offer
the Corporation the opportunity, at its own expense, to handle and defend the same.

	24.	 	Use of Proceeds.

          The proceeds from the sale of shares of Common Stock pursuant to Options granted under the
Plan shall constitute general funds of the Corporation.

	25.	 	Amendment of the Plan.

          The Board may from time to time amend, modify, suspend or terminate the Plan; provided,
however, that no such action shall be made without shareholder approval where such change would be
required in order to comply with Rule 16b-3 or the Code.

	26.	 	Effective Date of Plan.

          The Plan shall become effective on the date it approved by the shareholders of the Corporation
(the “Effective Date”).

	27.	 	Termination of the Plan.

          The Plan shall terminate ten years following the Effective Date, and no Awards shall be
granted after such date under the Plan; provided, however, that the Plan shall terminate at such
earlier time as the Board may determine. Any such termination, either partially or wholly, shall
not affect any Awards then outstanding under the Plan.

A-10EX-10.3

Exhibit 10.3

Amended and restated as of August 28, 2008

PLEXUS CORP.

2008 LONG-TERM INCENTIVE PLAN

1. Introduction.

	 	(a)	 	Purposes. The purposes of the 2008 Long-Term Incentive Plan are to provide a means to
attract and retain talented personnel and to provide to participating directors, officers
and other key employees long-term incentives for high levels of performance and for
successful efforts to improve the financial performance of the corporation. These purposes
may be achieved through the grant of options to purchase Common Stock of Plexus Corp., the
grant of Stock Appreciation Rights, the grant of Restricted Stock, the grant of Performance
Stock Awards and the grant of Cash Bonus Awards, as described below.
	 
	 	(b)	 	Effect on Prior Plans. If the 2008 Plan is approved by shareholders, the Plexus Corp.
2005 Equity Incentive Plan (the “2005 Plan”) will only be used to make grants to employees
covered by the approved sub-plan for United Kingdom employees which has been established
under the 2005 Plan. If and when a sub-plan for United Kingdom employees under the 2008
Plan is approved, no further awards will be granted under the Plexus Corp. 2005 Plan.
Awards granted previously under the 2005 Plan will remain in effect until they have been
exercised or have expired. The awards shall be administered in accordance with their terms
and the 2005 Plan.

2. Definitions.

	 	(a)	 	“1934 Act” means the Securities Exchange Act of 1934, as it may be amended from time to
time.
	 
	 	(b)	 	“Award” means an Incentive Stock Option, Non-Qualified Stock Option, Stock Appreciation
Right, Restricted Stock grant, Performance Stock Award or Cash Bonus Award, as appropriate.
	 
	 	(c)	 	“Award Agreement” means the agreement between the Corporation and the Grantee
specifying the terms and conditions as described thereunder.
	 
	 	(d)	 	“Board” means the Board of Directors of Plexus Corp.
	 
	 	(e)	 	“Cash Bonus Award” means a cash bonus award under Article 16 of the Plan.
	 
	 	(f)	 	“Cause” means a violation of the Corporation’s Code of Conduct and Business Ethics, or
substantial and continued failure of the employee to perform, which results in, or was
intended to result in (i) demonstrable injury to the Corporation, monetary or otherwise or
(ii) gain to, or enrichment of, the Grantee at the Corporation’s expense.
	 
	 	(g)	 	“Change in Control” means an event which shall be deemed to have occurred in the event
that any person, entity or group shall become the beneficial owner of such number of shares
of Common Stock, and/or any other class of stock of the Corporation then outstanding that
is entitled to vote in the election of directors (or is convertible into shares so entitled
to vote) as together possess more than 50% of the voting power of all of the then
outstanding shares of all such classes of stock of the Corporation so entitled to vote. For
purposes of the preceding sentence, “person, entity or group” shall not include (i) any
employee benefit plan of the Corporation, or (ii) any person, entity or group which, as of
the Effective Date of this Plan, is the beneficial owner of such number of shares of Common
Stock and/or such other class of stock of the Corporation as together possess 5% of such
voting power; and for these purposes “group” shall mean persons who act in concert as
described in Section 14(d)(2) of the 1934 Act.
	 
	 	(h)	 	“Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.

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	 	(i)	 	“Committee” means the committee described in Article 4 or the person or persons to whom the
committee has delegated its power and responsibilities under Article 4.
	 
	 	(j)	 	“Common Stock” or “Stock” means the common stock of the Corporation having a par value of $.01
per share.
	 
	 	(k)	 	“Corporation” means Plexus Corp., a Wisconsin corporation.
	 
	 	(l)	 	“Fair Market Value” means for purposes of the Plan an amount deemed to be equal to the mean
between the highest and lowest sale prices of Common Stock traded on such date, or an average of
trading days, as determined by the Committee, for sales made and reported through the National
Market System of the National Association of Securities Dealers or such national stock exchange on
which such Stock may then be listed and which constitutes the principal market for such Stock, or,
if no sales of Stock shall have been reported with respect to that date, on the next preceding date
with respect to which sales were reported. Notwithstanding the foregoing, the Committee may base
the determination of Fair Market Value on an average of trading days only if the requirements for
the use of such methodology prescribed by applicable guidance under Section 409A of the Code are
satisfied.
	 
	 	(m)	 	“Grant Date” means the date on which an Award is deemed granted, which shall be the date on
which the Committee authorizes the Award or such later date as the Committee shall determine in
its sole discretion.
	 
	 	(n)	 	“Grantee” means an individual who has been granted an Award.
	 
	 	(o)	 	“Incentive Stock Option” means an option that is intended to meet the requirements of Section
422 of the Code and regulations thereunder.
	 
	 	(p)	 	“Non-Qualified Stock Option” means an option other than an Incentive Stock Option.
	 
	 	(q)	 	“Option” means an Incentive Stock Option or Non-Qualified Stock Option, as appropriate.
	 
	 	(r)	 	“Performance Goal” means a performance goal established by the Committee prior to the grant of
any Award of Restricted Stock or Performance Stock that is based on the attainment of goals
relating to one or more of the following business criteria measured on an absolute basis or in
terms of growth or reduction: income (pre-tax or after-tax and with adjustments as stipulated),
earnings per share, return on equity, return on capital employed, return on assets, return on
tangible book value, operating income, earnings before depreciation, interest, taxes and
amortization (EBIDTA), expense ratio, increase in stock price, return on invested capital (ROIC),
total shareholder return, shareholder value added (or a derivative thereof) and operating cash
flow. Such performance goals may be based solely by reference to the Corporation’s performance or
the performance of an affiliate, division, business segment or business unit of the Corporation or
any of its subsidiaries, or based upon the relative performance of other companies or upon
comparisons of any of the indicators of performance relative to other companies. The Committee may
also exclude charges related to an event or occurrence which the Committee determines should
appropriately be excluded, including (i) restructurings, discontinued operations, impairment of
goodwill or long-lived assets, extraordinary items, and other unusual or non-recurring charges,
(ii) an event either not directly related to the operations of the Corporation or not within the
reasonable control of the Corporation’s management, or (iii) the cumulative effects of tax or
accounting changes in accordance with generally accepted accounting principles.
	 
	 	(s)	 	“Performance Stock Award” means an Award under Article 16 of the Plan that is conditioned upon
the satisfaction of pre-established Performance Goals.

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	 	(t)	 	“Plan” means the Plexus Corp. 2008 Long-Term Incentive Plan as set forth herein, as it
may be amended from time to time.
	 
	 	(u)	 	“Rule 16b-3” means Rule 16b-3 promulgated under the 1934 Act, and any future regulation
amending or superseding such regulation.
	 
	 	(v)	 	“Restricted Stock” means shares or units of Common Stock which are subject to
restrictions established by the Committee. Restricted Stock Awards may consist of shares
issued subject to forfeiture if specified conditions are not satisfied (“Restricted Stock
Shares”) or agreements to issue shares of Common Stock in the future if specified
conditions are satisfied (“Restricted Stock Units”).
	 
	 	(w)	 	“Stock Appreciation Right” or “SAR” means the right to receive cash or shares of Common
Stock in an amount equal to the excess of the Fair Market Value of one share of Common
Stock on the date the SAR is exercised over (1) the Fair Market Value of one share of
Common Stock on the Grant Date (the “exercise price”) or (2) if the SAR is related to an
Option, the purchase price of a share of Common Stock specified in the related Option. An
SAR settled in cash may be referred to as a “Cash Settled Stock Appreciation Right and an
SAR settled in stock may be referred to as a “Stock Settled Stock Appreciation Right.”

3. Shares Subject to Award.

     Subject to adjustment as provided in Article 19 hereunder, the number of shares of Common
Stock of the Corporation that may be issued under the Plan shall not exceed five million five
hundred thousand (5,500,000) shares (the “Share Limit”), all of which may be issued in the form of
Incentive Stock Options. No Plan Participant may receive Awards for more than 1,000,000 Shares in
any calendar year. Shares issued under the Plan may come from authorized but unissued shares, from
treasury shares held by the Corporation, from shares purchased by the Corporation or an independent
agent in the open market for such purpose, or from any combination of the foregoing. The Share
Limit shall be subject to the following rules and adjustments:

	 	(a)	 	If an SAR is exercised pursuant to Article VI, only the number of shares of Common
Stock issued upon exercise shall be counted against the Share Limit (not the number of shares subject to the SAR).
	 
	 	(b)	 	If any Award granted under this Plan is canceled, terminates, expires, or lapses for
any reason, any shares subject to such Award again shall be available for the grant of an
Award under the Plan.
Any Awards or portions thereof that are settled in cash and not in shares of Common
Stock shall not be counted against the foregoing Share Limit.
	 
	 	(c)	 	Following the approval of the 2008 Plan by shareholders, the 2005 Plan may be used to
make grants to employees covered by the approved sub-plan for United Kingdom employees
under the 2005 Plan. Any shares of Common Stock subject to options which are granted to
United Kingdom employees after the 2008 Plan has been approved by shareholders shall be
counted against the 2008 Plan Share Limit as one share for every one share subject thereto.

4. Administration of the Plan.

     For purposes of the power to grant Awards to directors, the Committee shall consist of the
entire Board. For other Plan purposes, the Plan shall be administered by the Compensation and
Leadership Development Committee of the Board, or any other committee the Board may subsequently
appoint to administer the Plan, as herein described. The Committee shall have full and final
authority, in its discretion, but subject to the express provisions of the Plan to:

	 	(a)	 	grant Awards, to determine the terms of each Award, the individuals to whom, the number
of shares subject to, and the time or times at which, Awards shall be granted;

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	 	(b)	 	interpret the Plan;
	 
	 	(c)	 	prescribe, amend and rescind rules and regulations relating to the Plan;
	 
	 	(d)	 	determine the terms and provisions of the respective agreements (which need not be
identical) by which Awards shall be evidenced;
	 
	 	(e)	 	make all other determinations deemed necessary or advisable for the administration of
the Plan;
	 
	 	(f)	 	require withholding from or payment by a Grantee of any federal, state or local taxes;
	 
	 	(g)	 	impose, on any Grantee, such additional conditions, restrictions and limitations upon
exercise and retention of Awards as the Committee shall deem appropriate;
	 
	 	(h)	 	treat any Grantee who retires as a continuing employee for purposes of the Plan; and
	 
	 	(i)	 	modify, extend or renew any Award previously granted; provided, however, that this
provision shall not provide authority to reprice Awards to a lower exercise price.

     Any action of the Committee with respect to the administration of the Plan shall be taken
pursuant to a majority vote or by the unanimous written consent of its members. The Committee may
delegate all or any part of its responsibilities and powers to any executive officer or officers of
the Corporation selected by it. Any such delegation may be revoked by the Board or by the Committee
at any time.

5. Option Participation.

     Options may be granted to directors, officers and key employees of the Corporation and any of
its subsidiaries. In selecting the individuals to whom Options shall be granted, as well as in
determining the number of Options granted, the Committee shall take into consideration such factors
as it deems relevant pursuant to accomplishing the purposes of the Plan. A Grantee may, if
otherwise eligible, be granted an additional Option or Options if the Committee shall so determine.

6. Granting of Options.

     The officers of the Corporation are authorized and directed, upon receipt of notice from the
Committee of the granting of an Option, to deliver on behalf of the Corporation, by mail or
otherwise, to the Grantee an Option upon the terms and conditions specified under the Plan and in
the form of the Award Agreement. The Award Agreement shall be dated as of the date of approval of
the granting of an Option by the Committee. If the Grantee fails to accept the Award within 30 days
after the date of its delivery to Grantee, the Option grant may be deemed withdrawn.

     Where an Option has been granted under the provisions of the HM Revenue & Customs Approved
Rules for UK Employees (the “Sub-Plan”) and the number of shares of Common Stock subject to that
Option is limited by virtue of Rule 17 of the Sub-Plan, there shall be deemed to have been granted
a separate Option (for the avoidance of doubt, not granted under the provisions of the Sub-Plan) on
the same date and time and under the same terms for the number of shares of Common Stock in excess
of the limit set out in Rule 17 of the Sub-Plan.

7. Option Exercise Price.

     The purchase price of the Common Stock covered by each Option shall be not less than the Fair
Market Value of such Stock on the Grant Date. Such price shall be subject to adjustment as provided
in Article 19 hereof.

8. Option Designation.

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     At the time of the grant of each Option, the Committee shall designate the Option as (a) an
Incentive Stock Option or (b) a Non-Qualified Stock Option, as described in Sections (a) and (b)
below, respectively.

	 	(a)	 	Incentive Stock Options: Any Option designated as an Incentive Stock Option
shall comply with the requirements of Section 422 of the Code, including the requirement
that incentive stock options may only be granted to individuals who are employed by the
Corporation, a parent or a subsidiary corporation of the Corporation. If an Option is so
designated, the Fair Market Value (determined as of the Grant Date) of the shares of Stock
with respect to which that and any other Incentive Stock Option first becomes exercisable
during any calendar year under this Plan or any other stock option plan of the Corporation
or its affiliates shall not exceed $100,000; provided, however, that the time or times of
exercise of an Incentive Stock Option may be accelerated pursuant to Article 12, 13 or 19
hereof, terms of the Plan and, in the event of such acceleration, such Incentive Stock
Option shall be treated as a Non-Qualified Option to the extent that the aggregate Fair
Market Value (determined as of the Grant Date) of the shares of stock with respect to which
such Option first becomes exercisable in the calendar year (including Options under this
Plan and any other Plan of the corporation or its affiliates) exceeds $100,000, the extent
of such excess to be determined by the Committee taking into account the order in which the
Options were granted, or such other factors as may be consistent with the requirements of
Section 422 of the Code and rules promulgated thereunder. Furthermore, no Incentive Stock
Option shall be granted to any individual who, immediately before the Option is granted,
directly or indirectly owns (within the meaning of Section 425(d) of the Code, as amended) shares representing more than 10% of the total combined voting power of all classes of
stock of the Corporation or its subsidiaries, unless, at the time the option is granted,
and in accordance with the provisions of Section 422, the option exercise price is 110% of
the Fair Market Value of shares of Stock subject to the Option and the Option must be
exercised within 5 years of the Grant Date.
	 
	 	(b)	 	Non-Qualified Stock Options: All Options not subject to or in conformance with
the additional restrictions required to satisfy Section 422 shall be designated
Non-Qualified Stock Options.

9. Stock Appreciation Rights.

     The Committee may, in its discretion, grant SARs to directors, officers and key employees of
the Corporation and any of its subsidiaries. If any unexercised SAR for any reason terminates or
expires in whole or in part prior to termination of the Plan, such unexercised SARs shall become
available for granting under the Plan. The Committee may grant SARs at any time and from time to
time to any Grantee, designate such SARs as related to Options then being granted or granted within
six months prior to the Grant Date of the SAR, and set such terms and conditions upon the exercise
of the SARs as it may determine in its discretion, provided that the written agreement evidencing
such SARs shall comply with and be subject to the following terms and conditions:

	 	(a)	 	No SAR granted hereunder shall be exercisable until the expiration of six months from
the Grant Date of the SAR unless the Grantee terminates employment by reason of death or
disability prior to the expiration of such six-month period.
	 
	 	(b)	 	A Grantee’s right to exercise an SAR shall terminate when the Grantee is no longer an
employee of the Corporation or any of its subsidiaries unless such right is extended as
provided under Article 13 hereunder.
	 
	 	(c)	 	In the event adjustments are made to the number of shares, exercise price, or time or
times of exercise of outstanding Options upon the occurrence of an event described in
Article 19 hereunder, appropriate adjustments shall be made in the number of SARs available
for future grant, the number of SARs under existing grants, the exercise price of the
existing SARs, and the time or times of exercise of such SARs.
	 
	 	(d)	 	Unless the written agreement expressly provides otherwise, if and to the extent an SAR
is granted in relation to an Option, exercise of the SAR or Option shall result in the
extinguishment of the related right to the extent such SAR or Option for shares is
exercised.

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	 	(e)	 	Unless the written agreement expressly provides otherwise, any SARs granted shall be
exercisable in accordance with Article 12.
	 
	 	(f)	 	Upon the exercise of SARs, the Grantee shall be entitled to receive an amount
determined by multiplying (1) the difference obtained by subtracting the Fair Market Value
of the share of Common Stock as of the Grant Date of the SAR or, in the case of a SAR which
is related to an Option, the purchase price per share of Common Stock under such Option,
from the Fair Market Value of a share of Common Stock on the date of exercise, by (2) the
number of SARs exercised.
At the discretion of the Committee, the payment upon the exercise of the SARs may
be in cash, in shares of Common Stock of equivalent value, or in some combination
thereof. The number of available shares under Award shall not be affected by any
cash payments.

10. Non-transferability of Options and SARs.

     Any Option or SAR granted hereunder shall, by its terms, be non-transferable by a Grantee
other than by will or the laws of descent and shall be exercisable during the Grantee’s lifetime
solely by the Grantee or the Grantee’s duly appointed guardian or personal representative.
Notwithstanding the foregoing, the Committee may permit a Grantee to transfer a Non-Qualified Stock
Option or SAR to a family member or a trust or partnership for the benefit of a family member, in
accordance with rules established by the Committee.

11. Substituted Options or SARs.

     In the event the Committee cancels any Option or SAR granted under this Plan, and a new Option
or SAR is substituted therefore, the Grant Date of the canceled Option or SAR (except to the extent
inconsistent with the restrictions described in Article 8, if applicable) shall be the date used to
determine the earliest date for exercising the new substituted Option under Article 12 hereunder so
that the Grantee may exercise the substituted Option or SAR at the same time as if the Grantee had
held the substituted Option or SAR since the Grant Date of the canceled Option. Except in
connection with a corporate transaction involving the Corporation (including, without limitation,
any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization,
merger, consolidation, split-up, spin-off, combination, or exchange of shares), the terms of
outstanding Awards may not be amended to reduce the exercise price of outstanding Options or SARs
or cancel outstanding Options or SARS in exchange for cash, other awards or Options or SARs with an
exercise price that is less than the exercise price of the original Options or SARs without
stockholder approval. Nothing in this Section 11 shall provide authority to substitute Awards in a
manner which will have the effect of repricing Awards to a lower exercise price.

12. Vesting of Options and SARs.

     The Committee shall have the power to set the time or times within which each Option and SAR
shall be exercisable, and to accelerate the time or times of exercise. If an SAR is related to an
Option, the Grant Date of such SAR for purposes of this Article 12 shall be the Grant Date of the
related Option. No Option or SAR may be exercised if in the opinion of counsel for the Corporation
the issuance or sale of Stock or payment of cash by the Corporation, as appropriate, pursuant to
such exercise shall be unlawful for any reason, nor after the expiration of 10 years from the Grant
Date. In no event shall the Corporation be required to issue fractional shares upon the exercise of
an Option.

13. Exercise Period for Options and SARs.

     Unless otherwise provided herein or in a specific Option or SAR Agreement which may provide
longer or shorter periods during which the Award may be exercised, no Option or SAR shall be
exercisable after the earliest of:

	 	(a)	 	in the case of an Incentive Stock Option:

	 	(i)	 	10 years from the date the option is granted, or five years from the date the
option is granted to an individual owning (after the application of the family and
other attribution 

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	 	 	 	rules of Section 424(d) of the Code) at the time such option was granted, more than
10% of the total combined voting power of all classes of stock of the Corporation,

	 	(ii)	 	three months after the date the Grantee ceases to perform services for the Corporation
or its subsidiaries, if such cessation is for any reason other than death, disability
(within the meaning of Code Section 22(e)(3)), retirement or Cause,
	 
	 	(iii)	 	three years after the date the Grantee ceases to perform services for the Corporation
or its subsidiaries, if such cessation is by reason of the Grantee’s death, disability
(within the meaning of Code Section 22(e)(3)) or retirement in accordance with normal
Corporation retirement practices, as determined by the Committee in its sole discretion
(provided that such Option must be exercised within the time period prescribed by Section
422 of the Code to be treated as an Incentive Stock Option); or
	 
	 	(iv)	 	the date the Grantee ceases to perform services for the Corporation or its
subsidiaries, if such cessation is for Cause, as determined by the Corporation or the
Committee in its sole discretion;

	 	(b)	 	in the case of a Nonqualified Stock Option:

	 	(i)	 	ten (10) years from the date of grant,
	 
	 	(ii)	 	ninety days after the date the Grantee ceases to perform services for the Corporation
or its subsidiaries, if such cessation is for any reason other than death, permanent
disability, retirement or Cause,
	 
	 	(iii)	 	three years after the date the Grantee ceases to perform services for the Corporation
or its subsidiaries, if such cessation is by reason of the Grantee’s death, permanent
disability or retirement in accordance with normal Corporation retirement practices, as
determined by the Committee in its sole discretion; or
	 
	 	(iv)	 	the date the Grantee ceases to perform services for the Corporation or its
subsidiaries, if such cessation is for Cause, as determined by the Corporation or the
Committee in its sole discretion;

	 	(c)	 	in the case of an SAR:

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	 	(i)	 	seven (7) years from the date of grant,
	 
	 	(ii)	 	ninety days after the date the Grantee ceases to perform services for the
Corporation or its subsidiaries, if such cessation is for any reason other than
death, permanent disability, retirement or Cause,
	 
	 	(iii)	 	one year after the date the Grantee ceases to perform services for the
Corporation or its subsidiaries, if such cessation is by reason of death or
permanent disability,
	 
	 	(iv)	 	three years after the date the Grantee ceases to perform services for the
Corporation or its subsidiaries, if such cessation is by reason of the Grantee’s
retirement in accordance with normal Corporation retirement practices, as
determined by the Committee in its sole discretion; or
	 
	 	(v)	 	the date the Grantee ceases to perform services for the Corporation or its
subsidiaries, if such cessation is for Cause, as determined by the Corporation or
the Committee in its sole discretion;

provided, that, unless otherwise provided in a specific grant agreement or determined by the
Committee, an Option or SAR shall only be exercisable for the periods above following the date an
optionee ceases to perform services to the extent the option was exercisable on the date of such
cessation. Notwithstanding the foregoing, no Option or SAR shall be exercisable after the date of
expiration of its term.

14. Method of Exercise.

     To the extent that the right to purchase shares pursuant to an Option or to exercise an SAR
has accrued hereunder, such Option or SAR may be exercised as follows:

	 	(a)	 	Options: Options may be exercised in whole or in part from time to time as specified in
the Option agreement. The exercise notice shall state the number of shares being purchased
and be accompanied by the payment in full of the exercise price for such shares. Such
payment shall be made in cash, outstanding shares of the Common Stock which the Grantee,
the Grantee’s spouse or both have beneficially owned for at least six months prior to the
time of exercise, or in combinations thereof. If shares of Common Stock are used in part or
full payment for the shares to be acquired upon exercise of the Option, such shares shall
be valued for the purpose of such exchange as of the date of exercise of the Option at the
Fair Market Value of the shares.
	 
	 	(b)	 	SARs: SARs may be exercised in whole or in part from time to time as specified in the
SAR agreement.

15. Restricted Stock Awards.

     The Committee may, in its discretion, grant Restricted Stock to directors, officers and key
employees of the Corporation and any of its subsidiaries. Restricted Stock Awards may consist of
shares issued subject to forfeiture if specified conditions are not satisfied (“Restricted Stock
Shares”) or agreements to issue shares of Common Stock in the future if specified conditions are
satisfied (“Restricted Stock Units”). The Committee may condition the grant of Restricted Stock
upon the attainment of Performance Goals so that the grant qualifies as “performance-based
compensation” within the meaning of Section 162(m) of the Code. The Committee may also condition
the grant of Restricted Stock upon such other conditions, restrictions and contingencies as the
Committee may determine. The provisions of Restricted Stock Awards need not be the same with
respect to each recipient. Restricted Stock Awards shall be subject to the following terms and
conditions:

	 	(a)	 	Each Restricted Stock Award shall be confirmed by, and be subject to the terms of, an
Award Agreement identifying the restrictions applicable to the Award.

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	 	(b)	 	Until the applicable restrictions lapse or the conditions are satisfied, the Grantee
shall not be permitted to sell, assign, transfer, pledge or otherwise encumber the
Restricted Stock Award.
	 
	 	(c)	 	Except to the extent otherwise provided in the applicable Award Agreement and (d)
below, the portion of the Restricted Stock Award still subject to restriction shall be
forfeited by the Grantee upon termination of the Grantee’s service for any reason.
	 
	 	(d)	 	In the event of hardship or other special circumstances of a Grantee whose service is
terminated (other than for Cause), the Committee may waive in whole or in part any or all
remaining restrictions with respect to such Grantee’s Restricted Stock Award.
	 
	 	(e)	 	If and when the applicable restrictions lapse, unrestricted shares of Common Stock
shall be issued to the Grantee.
	 
	 	(f)	 	A Grantee receiving an Award of Restricted Stock Shares shall have all of the rights of
a shareholder of the Corporation, including the right to vote the shares and the right to
receive any cash dividends. Unless otherwise determined by the Committee, cash dividends
shall be paid in cash and dividends payable in stock shall be paid in the form of
additional Restricted Stock Shares.
	 
	 	(g)	 	A Grantee receiving an Award of Restricted Stock Units shall not be deemed the holder
of any shares covered by the Award, or have any rights as a shareholder with respect
thereto, until such shares are issued to him/her.

16. Performance Stock Awards.

     The Committee may grant Performance Stock Awards either alone or in addition to other Awards
granted under the Plan. The Committee anticipates that the Performance Stock Awards will be subject
to both a performance condition and a condition related to the Grantee’s continued employment. The
Committee shall determine the eligible employees to whom and the time or times at which Performance
Stock Awards will be made, the number of shares subject to the Award, the time or times within
which such Awards will be subject to forfeiture and any other terms and conditions of the Awards.
Performance Stock Awards shall be subject to the following terms and conditions:

	 	(a)	 	The Performance Stock Awards will be conditioned upon the attainment of one or more
preestablished, objective corporate Performance Goals so that the Award qualifies as
“performance-based compensation” within the meaning of Section 162(m) of the Code.
Performance Goals shall be based on one or more business criteria that apply to the
individual, a business unit, or the Corporation as a whole. It is intended that any
Performance Goal will be in a form that relates the Performance Stock Award to an
increase in the value of the Corporation to its shareholders.
	 
	 	(b)	 	Performance Goals shall be established in writing by the Committee not later than 90
days after the commencement of the period of service to which the Performance Goal relates.
The preestablished Performance Goal must state, in terms of an objective formula or
standard, the method for computing the number of shares earned or subject to further
vesting conditions if the goal is attained.
	 
	 	(c)	 	Following the close of the performance period, the Committee shall determine whether
the Performance Goal was achieved, in whole or in part, and determine the number of shares
earned or subject to further vesting conditions.
	 
	 	(d)	 	The Performance Stock Awards may be conditioned upon such other conditions,
restrictions and contingencies as the Committee may determine, including the Grantee’s
continued employment.
The provisions of Performance Stock Awards need not be the same with respect to
each recipient.

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	 	(e)	 	Until all conditions for a Performance Stock Award have been satisfied, the Grantee
shall not be permitted to sell, assign, transfer, pledge or otherwise encumber the Award.
	 
	 	(f)	 	Except to the extent otherwise provided by the Committee and (g) below, the portion of
the Award still subject to restriction shall be forfeited by the Grantee upon termination
of a Grantee’s service for any reason.
	 
	 	(g)	 	In the event of hardship or other special circumstances of a Grantee whose employment
is terminated (other than for Cause), the Committee may waive in whole or in part any or
all remaining restrictions with respect to such Grantee’s Performance Stock Award.
	 
	 	(h)	 	If and when the applicable restrictions lapse, unrestricted shares of Common Stock for
such shares shall be issued to the Grantee.

     A Grantee receiving a Performance Stock Award shall not be deemed the holder of any shares
covered by the Award, or have any rights as a shareholder with respect thereto, until such shares
are issued to him/her following the lapse of the applicable restrictions.

17. Cash Bonus Awards.

     The Committee may establish Cash Bonus Awards either alone or in addition to other Awards
granted under the Plan. The Committee shall determine the employees to whom and the time or times
at which Cash Bonus Awards shall be granted, and the conditions upon which such Awards will be
paid. The maximum Cash Bonus Award payable to an employee in any fiscal year shall not exceed
$1,500,000. Cash Bonus Awards shall be subject to the following terms and conditions:

	 	(a)	 	A Cash Bonus Award under the Plan shall be paid solely on account of the attainment of
one or more preestablished, objective Performance Goals. Performance Goals shall be based
on one or more business criteria that apply to the individual, a business unit, or the
Corporation as a whole.
It is intended that any Performance Goal will be in a form that relates the bonus
to an increase in the value of the Corporation to its shareholders.
	 
	 	(b)	 	Performance Goals shall be established in writing by the Committee not later than 90
days after the commencement of the period of service to which the Performance Goal relates
The pre-established Performance Goal must state, in terms of an objective formula or
standard, the method for computing the amount of compensation payable to any employee if
the goal is attained.
	 
	 	(c)	 	Following the close of the performance period, the Committee shall determine whether
the Performance Goal was achieved, in whole or in part, and determine the amount payable to
each employee.

     This Plan does not limit the authority of the Corporation, the Board or the Committee, or any
Subsidiary to award bonuses or authorize any other compensation to any person.

18. Withholding.

     The Corporation shall have the power and the right to deduct or withhold, or require a Grantee
to remit to the Corporation, an amount sufficient to satisfy Federal, state, and local taxes
(including the Grantee’s FICA obligation) required by law to be withheld with respect to any
taxable event arising or as a result of this Plan. With respect to withholding required upon the
exercise of Options or SARs, upon the lapse of restrictions on Restricted Stock or the payment of
Performance Stock Awards, Grantees may elect, subject to the approval of the Committee, to satisfy
the withholding requirement, in whole or in part, by having the Corporation withhold shares having
a Fair Market Value on the date the tax is to be determined equal to the minimum statutory total
tax which could be imposed on the transaction.

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19. Effect of Change in Stock Subject to Plan.

     In the event of a reorganization, recapitalization, stock split, stock dividend, merger,
consolidation, rights offering or like transaction, the Committee will make such adjustment in the
number of and class of shares which may be delivered under the Plan, and in the number and class of
and/or price of shares subject to outstanding Options, SARs, Restricted Stock and Performance Stock
granted under the Plan as it may deem to be equitable. While the Committee must make such an
adjustment, the determination by the Committee as to what is equitable shall be at its discretion.
Notwithstanding, in the event of the merger or consolidation of the Corporation with or into
another corporation or corporations in which the Corporation is not the surviving corporation, the
adoption of any plan for the dissolution of the Corporation, or 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, subject to the approval of the Board of Directors of the
Corporation, or the board of directors of any corporation assuming the obligations of the
Corporation hereunder, take action regarding each outstanding and unexercised Option and SAR
pursuant to either clause (a) or (b) below:

	 	(a)	 	Appropriate provision may be made for the protection of such Option and SAR by the
substitution on an equitable basis of appropriate shares of the surviving or related
corporation, provided that the excess of the aggregate Fair Market Value of the shares
subject to such Award immediately before such substitution over the exercise price thereof
is not more than the excess of the aggregate fair market value of the substituted shares
made subject to Award immediately after such substitution over the exercise price thereof;
or
	 
	 	(b)	 	The Committee may cancel such Award. In the event any Option or SAR is canceled, the
Corporation, or the corporation assuming the obligations of the Corporation hereunder,
shall pay the Grantee an amount of cash (less normal withholding taxes) equal to the excess
of the Fair Market Value per share of the Stock immediately preceding the cancellation over
the exercise price, multiplied by the number of shares subject to such Option or SAR. In
the event any other Award is canceled, the Corporation, or the corporation assuming the
obligations of the Corporation hereunder, shall pay the Grantee an amount of cash or stock,
as determined by the Committee, based upon the value, as determined by the Committee, of
the property (including cash) received by the holder of a share of Common Stock as a result
of such event. No payment shall be made to a Grantee for any Option or SAR if the exercise
price for such Option or SAR exceeds the value, as determined by the Committee, of the
property (including cash) received by the holder of a share of Common Stock as a result of
such event.

     Notwithstanding anything to the contrary, in the event a Change in Control should occur, all
Options, SARs, Restricted Stock Shares and Restricted Stock Units then outstanding shall become
immediately vested or exercisable upon the date of the Change in Control. Further, the Committee
shall have the right to cancel such Options or SARs and pay the Grantee an amount determined under
(b) above.

20. Liquidation.

     Upon the complete liquidation of the Corporation, any unexercised Options and SARs theretofore
granted under this Plan shall be deemed canceled.

21. No Employment or Retention Agreement Intended.

     Neither the establishment of, nor the awarding of Awards under this Plan shall be construed to
create a contract of employment or service between any Grantee and the Corporation or its
subsidiaries; nor does it give any Grantee the right to continued service in any capacity with the
Corporation or its subsidiaries or limit in any way the right of the Corporation or its
subsidiaries to discharge any Grantee at any time and without notice, with or without Cause, or to
any benefits not specifically provided by this Plan, or in any manner modify the Corporation’s
right to establish, modify, amend or terminate any profit sharing or retirement plans.

22. Shareholder Rights.

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     Grantee shall not, by reason of any Options granted hereunder, have any right of a shareholder
of the Corporation with respect to the shares covered by the Options until shares of Stock have
been issued to Grantee.

23. Controlling Law.

     The law of the State of Wisconsin, except its law with respect to choice of law, shall be
controlling in all matters relating to the Plan.

24. Indemnification.

     In addition to such other rights of indemnification as they may have, the members of the
Committee and other Corporation employees administering the Plan and the Board members shall be
indemnified by the Corporation against the reasonable expenses, including attorneys’ fees actually
and necessarily incurred in connection with the defense of any action, suit or proceeding, or in
connection with any appeal therein, to which they or any of them may be a party by reason of any
action taken or failure to act under or in connection with the Plan or any Option granted
thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is
approved by independent legal counsel selected by the Corporation) or paid by them in satisfaction
of a judgment in any such action, suit or proceeding, except in relation to matters as to which it
shall be adjudged in such action, suit or proceeding that such member acted in bad faith in the
performance of his duties; provided that within 20 days after institution of any such action, suit
or proceeding, the member shall in writing offer the Corporation the opportunity, at its own
expense, to handle and defend the same.

25. Use of Proceeds.

     The proceeds from the sale of shares of Common Stock pursuant to Options granted under the
Plan shall constitute general funds of the Corporation.

26. Amendment of the Plan.

     The Board may from time to time amend, modify, suspend or terminate the Plan; provided,
however, that no such action shall be made without shareholder approval where such change would be
required in order to comply with Rule 16b-3 or the Code.

27. Effective Date of Plan.

     The Plan shall become effective on the date it approved by the shareholders of the Corporation
(the “Effective Date”).

28. Termination of the Plan.

     The Plan will expire ten (10) years after the Effective Date, solely with respect to the
granting of Incentive Stock Options or such later date as may be permitted by the Code for
Incentive Stock Options; provided, however, that the Plan shall terminate at such earlier time as
the Board may determine. Any such termination, either partially or wholly, shall not affect any
Awards then outstanding under the Plan.

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