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EXHIBIT 10.4(a)
[PLANTRONICS LOGO]
HUMAN RESOURCE ADMINISTRATIVE GUIDE
No. H0xxx
Rev 3.0 7/1/00
REGULAR AND SUPPLEMENTAL BONUS GUIDELINES
1.0 PURPOSE
The following Bonus guidelines shall apply to Fiscal Year 2001 and
subsequent fiscal years, unless amended. These guidelines will determine
how regular and supplemental bonuses are administered and calculated.
2.0 SCOPE
Selected employees may be eligible to participate in the Plantronics,
Inc. Regular and/or Supplemental Bonus Plan. Participants must receive
appropriate approval, as designated by the Company's signature authority
policy.
3.0 GENERAL
Plantronics has introduced numerous forms of variable compensation to
incent employees to achieve. The regular and supplemental bonus plans
were created to reward performance against documented objectives.
4.0 GUIDELINE
To become a Participant in the Regular or Supplemental Bonus Plan, an
associate must receive confirmation by way of a fully executed offer
letter or pay adjustment memo, received from the Human Resource
department.
The Regular and Supplemental Bonus Plan targets bonus amounts for
participants as a percentage of base salary. Target base salary for the
regular bonus plan is computed as one quarter of the ending pay rate.
Payout of the regular bonus will be made on a quarterly basis -- 25% of
the bonus target percentage each quarter times the individual performance
score. Target base salary for the supplemental bonus plan is computed
based on actual salary earned for the year. Actual payment is based on
company and individual performance scores. The Supplemental Bonus is paid
following the close of the fiscal year.
Supplemental Bonus Plan is paid only on the basis of relative achievement
against the Board approved plan for adjusted net income excluding
one-time gains/losses from sales of capital assets and write-offs. Should
adjusted net income fall below the Board-approved plan, supplemental
bonus payments will be reduced proportionately, i.e., 95% achievement of
net income funds a pool equal to 95% of target bonuses. Each participant
will receive payment only to the extent of actual accomplishment of
individual objectives.
NO SUPPLEMENTAL BONUS WILL BE PAID IF RESULTS WERE LOWER THAN THE RESULTS
FROM THE PRIOR YEAR. MAXIMUM PAYOUT FOR ANY INDIVIDUAL IS 100% OF TARGET.
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EXAMPLE: FISCAL YEAR
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Fiscal Year Base Salary $150,000
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Bonus Percentage 20%
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Target Supplemental Bonus 30,000
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Company Performance 96%
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Personal Performance 80%
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Payout $23,040
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[PLANTRONICS LOGO]
HUMAN RESOURCE ADMINISTRATIVE GUIDE
No. H0xxx
Rev 3.0 7/1/00
REGULAR AND SUPPLEMENTAL BONUS GUIDELINES
The actual Regular Bonus payment is based upon the attainment of
individual objectives, as determined. Payouts will be made using an
actual performance factor (0% to 100% of target) as determined by the
supervisor, department Vice President, and/or the CEO, and based upon the
participant's achievement of goals and objectives.
For example, assume a participant earns $100,000 per year and is targeted
to earn a 20% Regular Bonus. If the participant receives a 4% increase in
Q2 and achieved objective factors of 80% in Q1, 85% in Q2, 90% in Q3 and
85% in Q4, the bonus would be calculated as follows:
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Q1 Q2 Q3 Q4
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Fiscal Year Base Salary $100,000 $104,000 $104,000 $104,000
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Bonus Percentage 20% 20% 20% 20%
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Maximum Quarterly Bonus 5,000 5,200 5,200 5,200
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Personal Performance Factor 80% 85% 90% 85%
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Quarterly Payout 4,000 4,420 4,680 4,420
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Maximum Year-to-Date Bonus 5,000 10,000 15,000 20,000
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CUMULATIVE ANNUAL PAYOUT $4,000 $8,420 $13,100 $17,520
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Regular Bonuses will be paid as soon as practicable following the close
of a quarter.
A participant must be employed by Plantronics on the payment date to be
eligible. If not employed on the payment date, the participant shall not
be entitled to any funds. If the participant dies, or is disabled and
therefore unable to work during the relevant quarter or prior to the
payment date, the participant will be treated as being employed on the
payment date and the participant or the participant's estate will be
entitled to the portion of the quarterly bonus actually earned on a pro
rata basis using the time actually worked during the relevant quarter.
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