Employment Agreement dated February 16, 2017 between Registrant and Mary Huser

$360,000 per year, payable biweekly in accordance with our standard payroll practices and less applicable tax withholding.

 

50% of your Annual Base Salary or $180,000, at target performance.

The purpose of the Plantronics, Inc. Executive Incentive Plan (“EIP” or the “Plan”) is to focus participants on achieving annual Company-wide financial performance goals as well as product group, segment, or functional objectives and individual performance goals by providing the opportunity to receive annual cash payments based on accomplishments during the year.

Please refer to the Executive Incentive Plan “Administrative Guidelines” for further details on how bonuses may be earned.

You are eligible to receive an auto allowance of $8,280 per year. This amount will be paid prorata during each bi-weekly payroll. The gross amount will be listed as a separate income item and appropriate taxes withheld. You will not be reimbursed for business miles driven or car expenses.

5,500 shares of the Company’s common stock in the form of restricted stock (“restricted stock”). It will be recommended to the Company’s Board of Directors or a sub-committee thereof that you receive an award for the restricted stock. If approved, the price to you of the restricted stock will be $0.00. Moreover, the award will be granted on the same Grant Date as the option shares. If approved, the restricted stock will vest and be released from escrow or settled in three equal annual installments with the installments vesting on the last calendar day of the month following each of the first, second and third anniversaries of the Grant Date, respectively; provided, however, any shares that would otherwise vest and be released from escrow or settled on December 31st of any year shall instead vest on January 2nd of the succeeding year. All vesting is subject to your continued employment on each applicable vesting date.

You also will be eligible to receive additional equity awards typically on an annual basis at the same time awards are granted to other senior executive officers of the Company, with the terms and conditions of any awards actually granted to be determined in the discretion of the Company’s Compensation Committee.

Subject to your continued employment, in Spring 2017, it is expected that you will receive an equity compensation grant of approximately $250,000 in value (using the Company’s standard methodology for valuing equity compensation grants), with the number of shares, award mix and vesting of any awards actually granted to be determined by the Company’s Compensation Committee in its sole discretion.

You will be eligible to participate in Company benefit programs as available or that become available to other similarly situated associates of the Company, subject to the generally applicable terms and conditions of each program. The continuation or termination of each program will be at the discretion of the Company. Life, Medical, Dental and Disability coverage will begin on your start date.

As of your start date, you will be provided with change of control severance protection under the same form of agreement provided to our other senior officers (other than the CEO).

 

Executive Physical Program

Designed Compensation Program                        

You will be automatically enrolled in our Executive Health Exam Program. You will be eligible to receive one exam and personalized health guidance from a board certified doctor, at the company’s expense. This screening will give you guidance and direction on further health items to follow up on. To qualify you must schedule the appointment through the pre-identified network of doctors.

The Designed Compensation Program is designed to meet the needs of senior executives by complementing the benefit programs offered to all associates. This supplemental program takes into consideration the needs and differences that result from your key management role with the Company. Participants selected by the CEO and approved by the Committee will be eligible.  The Committee reserves the right to remove any Participant from the Program at any time.  Program participation in one year does not guarantee participation in subsequent years.

Financial, Estate and Tax Planning/Tax Preparation Services.  We provide 75% reimbursement up to $2,000 per year for the services of a CPA, attorney, or other financial consultant to assist with the planning and execution of tax and estate planning and preparation. This income is considered taxable and appropriate taxes will be withheld. Plantronics takes no responsibility for selecting and retaining such services, and the consequences of the resulting advice.

Business Club Membership.  We provide reimbursement of up to $1,500 per year for membership(s) in business, travel, or trade organizations. Social, luncheon, golf or athletic club memberships do not apply. This income is considered taxable and reimbursement will be provided through payroll, following the deduction of appropriate taxes.

Personal Liability Insurance. We provide reimbursement of up to $500 per year for personal liability umbrella insurance coverage. This must be a separate policy from your regular auto and homeowner’s liability coverage. This income is considered taxable and reimbursement will be provided through payroll, following the deduction of appropriate taxes.

You are eligible to join the Plantronics, Inc. 401(k). You automatically become a participant for purposes of the discretionary employer contribution as soon as you receive your first pay check from Plantronics. Plantronics, Inc. makes a discretionary employer contribution of 3% of your base salary on a bi-weekly basis to the 401(k). You may also contribute, as pre-tax or Roth contributions, between 1% and 50% of your eligible compensation each pay period, up to the annual IRS maximum ($18,000 in 2017) once you have enrolled. If you are over age 50 or will be turning 50 in this calendar year you may also contribute an additional ”catch up contribution” amount ($6,000 for 2017) up to the annual IRS maximum ($24,000 in 2017). You may enroll by calling the MassMutual FLASH Line at (800) 74FLASH (35274) or by visiting www.massmutual.com/retire/ and proceeding to The Journey link. Plantronics will match 50 cents for every $1.00 you contribute up to a maximum of 6% of your eligible compensation each pay period. The matching contribution is 100% vested immediately. If after 45 days from your date of hire you have not actively selected a contribution amount to set aside each pay period, Plantronics will automatically enroll you at a discretionary employee contribution of 3% of your eligible earnings on a bi-weekly basis to the 401(k). Please note that if you are classified as a part-time employee, you must be regularly scheduled to work at least twenty (20) hours per week to participate (if you are regularly scheduled to work less than 20 hours you will be eligible to participate when you actually work 1,000 hours in a year).