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EMPLOYMENT SECURITY AGREEMENT
This Employment Security Agreement is entered into this 21st day of December 2001, between Methode Electronics, Inc., a
Delaware corporation (the "Company"), and Douglas A. Koman (the "Executive").
WHEREAS, Executive is employed by the Company or one of its wholly-owned subsidiaries (referred to collectively as the
"Company") and the Company desires to provide certain security to Executive in connection with any potential change in
control of the Company; and
NOW, THEREFORE, it is hereby agreed by and between the parties, for good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, as follows:
1. Payments and Benefits Upon a Change in Control. If within three (3) years after a Change in Control (as defined
below) or during the Period Pending a Change in Control (as defined below): (i) the Company shall terminate Executive's
employment with the Company without Good Cause (as defined below), or (ii) Executive shall voluntarily terminate such
employment with Good Reason (as defined below), the Company shall, within 30 days of Executive's Employment Termination
(as defined below), make the payments and provide the benefits described below.
(a) Salary Payment. The Company shall make a lump sum cash payment to Executive equal to three times the
Executive's Annual Salary (as defined below).
(b) Bonuses. The Company shall make a lump sum cash payment to Executive equal to the sum of the following
amounts: (i) a bonus equal to 100% of Executive's Annual Salary (as defined below), plus (ii) a pro rata portion of a
bonus equal to 100% of Executive's Annual Salary for the fiscal year in which Executive's Employment Termination
occurs equal to any quarterly period(s) for which bonus was earned but not yet paid; plus (iii) all of Executive's unpaid,