METHODE ELECTRONICS, INC.
MANAGERIAL BONUS AND MATCHING BONUS PLAN
(As Restated Effective May 1, 2004)
The purpose of the Plan is to have key employees participate in profits of the Company. The Plan rewards
these key employees with additional compensation based on actual sales and profit performance compared to
budget and on achieving individual objectives established at the beginning of the fiscal year for the segment of the
Company for which they have responsibility, provided they meet certain eligibility requirements.
The current cash bonus is paid as soon as practicable following the fiscal quarter in order to recognize and
reward performance in a timely fashion.
In addition to the quarterly cash bonus based upon current performance, the Company has established a
matching bonus plan. The compensation committee of the board of directors will designate those employees
eligible to participate in this matching bonus plan. In the future, the participant may qualify for a matching bonus
which will be considered as earned 36 months after the current quarterly bonus provided the participant is still
employed by Methode at that time, and provided he/she has performed well in that 36-month period. A
participant will be deemed to be employed by Methode 36 months after the current quarterly bonus if:
(i) continuously during such 36-month period the participant was either employed by Methode or serving as a
director of Methode board of directors; or (ii) the Participant terminated employment or service as a director of
Methode during such 36-month period on account of death, disability, or retirement after attaining age 65. In the
event the participant is no longer employed by Methode 36 months after the current quarterly bonus, or is not
performing well if still employed, the participant will not qualify for the matching bonus.
The objective of the matching bonus is to motivate the participant to plan and work for long-term growth and
profitability of Met