Cash Incentive Awards
The Administrator may grant cash incentive awards to eligible individuals, either alone or in addition to
other awards granted under the 2024 Plan. The Administrator will determine the amount of cash, and the conditions upon which the awards, will be paid, including the Performance Goals that must be satisfied. The Plan does not limit the authority
of the Company, the board or the Committee to award other bonuses or compensation to any person.
Performance Goals
The Administrator may grant awards under the 2024 Plan subject to specified subjective goals (such as the
recipient’s individual performance) or performance goals 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 or with specified adjustments
(the “Performance Goals”): income (pre-tax or after-tax and with adjustments as stipulated), earnings per share (basic and diluted), return on equity, return on capital employed (“ROCE”), revenue, sales, gross profit, gross profit margin,
operating profit, operating profit margin, return on assets, return on tangible book value, return on sales, earnings before or after taxes including earnings before interest, taxes, depreciation and/or amortization (“EBIDTA”), expense ratio,
increase in stock price, ROIC, total shareholder return, shareholder value added (or a derivative thereof), free cash flow, operating cash flow, working capital, cash cycle days, expenses, cost reduction, market share, level or amount of
acquisitions, debt reduction, on-time to commit, on-time to request, manufacturing process yield, quality yield, economic profit or return, operating margin, objective measures of productivity or operating efficiency, new business wins, net
promoter score and customer satisfaction.
The Performance Goals may be based solely by reference to the performance of Plexus or the performance of an
affiliate, division, business segment or business unit or subsidiary of Plexus, or based upon the relative performance of other companies or upon comparison of the indicators of performance relative to other companies. In measuring the degree
of attainment of a Performance Goal, the Administrator may make adjustments to the goals or how the goals are measured, such as by excluding extraordinary charges, including those related to restructurings, discontinued operations, mergers,
acquisitions and items that are unusual in nature or occur infrequently, subject to its use of appropriate discretion.
Performance Goals will be established in writing by the Administrator not later than 90 days after the
commencement of the period of service to which the Performance Goal relates. The preestablished Performance Goals must state, in terms of an objective formula or standard, the method for computing the compensation payable to any employee if the
goal is attained. If Performance Goals established by the Administrator are not met, the related award will be forfeited.
Minimum Vesting Period
The vesting schedule for awards will be determined at the time of grant. However, the Plan provides that the
minimum vesting period for awards must be at least one year, provided that the Administrator may provide for accelerated vesting upon a grantee’s death, disability or retirement from the Company, termination without cause or other special
circumstances. For awards made to non-employee directors, the one-year minimum vesting period refers to the period from one annual shareholders’ meeting to the next, provided such period is at least fifty weeks. Notwithstanding the foregoing,
up to 5% of the shares available for issuance under awards under the Plan be granted as unrestricted shares of the Company’s common stock or as awards having a vesting period of less than one year.