PLEXUS CORP. LONG-TERM CASH AGREEMENT
Exhibit 10.1
TO:
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DATE:
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Plexus Corp. (the “Corporation”) hereby grants you (the “Grantee”) a long-term cash award
(“Award”), effective as of
, , subject to the following terms and
conditions.
1. AWARD AMOUNT
The Award that is potentially payable to Grantee under this Agreement is $ .
2. VESTING CONDITION
[One of the following alternatives shall be designated.]:
¨ Alternative 1: This Award shall become 100% vested if Grantee remains continuously
employed by the Corporation or one of its subsidiaries through , .
¨ Alternative 2: This Award shall become vested in accordance with the following vesting
schedule:
Notwithstanding the foregoing, the Award shall become 100% vested upon a change in control of
the Corporation, as determined by the Corporation’s Board of Directors. If Grantee’s employment
with the Corporation or one of its subsidiaries terminates for any reason prior to the date on
which the Award becomes vested, then all rights to the Award will be forfeited.
3. PAYMENT OF AWARD AMOUNT
The Corporation shall determine whether the Award has become vested, in whole or in part, and
determine the amount payable to Grantee. The Corporation shall pay Grantee within thirty (30) days
of its determination.
4. TAX WITHHOLDING
The Corporation shall have the power and right to deduct or withhold an amount sufficient to
satisfy Federal, state and local taxes required by law to be withheld with respect to the payment.
5. NO EMPLOYMENT AGREEMENT INTENDED
The granting of this Award shall not be construed to create a contract of employment between
Grantee and the Corporation or its subsidiaries; nor does it give Grantee the right to continue in
the employment of the Corporation or its subsidiaries or limit in any way the right of the
Corporation or its subsidiaries to discharge Grantee at any time and without notice, with or
without cause, or to any benefits not specifically provided in this Agreement.
6. WISCONSIN CONTRACT
This Agreement reflects an Award made in Wisconsin and shall be construed under the laws of
that state without regard to the conflict of laws provision of any jurisdiction.
You must accept this grant online by logging on to xxx.xxxxxx.xxx/xxxxxxxxxx. By accepting
this grant online you acknowledge and accept this grant and the terms and conditions. You also
acknowledge receipt of this Long-Term Cash Agreement. If this grant is not accepted online within
30 days from the grant date of this Agreement, this Award will be deemed refused and may be
withdrawn.
| PLEXUS CORP. |
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| By: | ||||
| Secretary | ||||
