x
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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the year ended December 31,
2008
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¨
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the transition period from ______
to_______
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A. |
Full
title of the plan and the address of the plan, if different from that of
the issuer named
below:
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B. |
Name
of issuer of the securities held pursuant to the plan and the address of
its principal executive
office:
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PLANTRONICS,
INC.
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401(k)
PLAN
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Financial
Statements and Supplemental Schedule
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For
the Years Ended December 31, 2008 and 2007
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Table
of Contents
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Page
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3 | |||
Financial
Statements:
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4 | |||
5 | |||
6 | |||
13 | |||
16 |
PLANTRONICS,
INC.
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401(k)
PLAN
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December
31,
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2008
|
2007
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Assets:
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Investments,
at fair value
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$ | 76,300,925 | $ | 98,755,936 | |||
Participant
loans
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1,940,387 | 1,809,616 | |||||
Net
assets available for benefits, at fair value
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78,241,312 | 100,565,552 | |||||
Adjustment
from fair value to contract value for
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|||||||
fully
benefit-responsive investment contracts
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469,354 | 478,771 | |||||
Net
assets available for benefits
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$ | 78,710,666 | $ | 101,044,323 |
PLANTRONICS,
INC.
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401(k)
PLAN
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Year
Ended December 31,
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2008
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2007
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Additions
(reductions) to net assets attributed to:
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Investment
income (loss) :
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|||||||
Dividends
and interest
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$ | 649,574 | $ | 773,030 | |||
Net
realized and unrealized appreciation (depreciation)
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|||||||
in
fair value of investments
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(28,631,771 | ) | 6,726,626 | ||||
(27,982,197 | ) | 7,499,656 | |||||
Contributions:
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Participants'
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6,318,580 | 6,723,811 | |||||
Employer's
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3,988,246 | 3,945,355 | |||||
10,306,826 | 10,669,166 | ||||||
Total
additions (reductions)
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(17,675,371 | ) | 18,168,822 | ||||
Deductions
from net assets attributed to withdrawals,
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|||||||
distributions,
and administrative expenses
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4,658,286 | 7,619,636 | |||||
Total
deductions
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4,658,286 | 7,619,636 | |||||
Net
increase (decrease) prior to transfers
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(22,333,657 | ) | 10,549,186 | ||||
Transfer
of assets to the Plan
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- | 7,239,013 | |||||
Net
increase (decrease) in net assets
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(22,333,657 | ) | 17,788,199 | ||||
Net
assets available for benefits:
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Beginning
of period
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101,044,323 | 83,256,124 | |||||
End
of period
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$ | 78,710,666 | $ | 101,044,323 |
December
31,
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2008
|
2007
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Babson
Capital Premier Money Market Fund
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$ | 16,948,386 | $ | 6,958,395 | |||
SF
Guaranteed Fund
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8,209,531 | 11,052,327 | |||||
PIMCO
Total Return Fund
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8,201,848 | 5,073,455 | |||||
Fidelity
Contrafund
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5,829,798 | 10,814,261 | |||||
Select
Indexed Equity Fund
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5,809,366 | 10,363,233 | |||||
OFI
Premier Global
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3,897,582 | * | 7,903,052 | ||||
Davis
New York Venture Fund
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3,985,825 | 7,305,830 | |||||
American
Funds Growth Fund of America (R3)
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- | 6,217,326 | |||||
AllianceBernstein
International Growth Fund
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2,432,491 | * | 5,825,287 | ||||
Plantronics,
Inc. Common Stock
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4,232,039 | 7,331,414 | |||||
Other
funds individually less than 5% of net assets
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18,694,446 | 21,720,972 | |||||
Net
assets available for benefits, at fair value
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78,241,312 | 100,565,552 | |||||
Adjustment
from fair value to contract value for
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fully
benefit-responsive investment contracts
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469,354 | 478,771 | |||||
Assets
held for investment purposes at contract value
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$ | 78,710,666 | $ | 101,044,323 |
Year
ended December 31,
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2008
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2007
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Company
common stock
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$ | (3,726,615 | ) | $ | 1,374,296 | ||
Mutual
funds
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(7,498,183 | ) | 842,364 | ||||
Pooled
separate accounts
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(17,406,973 | ) | 4,509,966 | ||||
$ | (28,631,771 | ) | $ | 6,726,626 |
·
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Level
1: quoted priced in active markets for identical assets or
liabilities;
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·
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Level
2: inputs other than Level 1 that are observable, either directly or
indirectly, such as quoted prices in active markets for similar assets or
liabilities, quoted prices for identical or similar assets or liabilities
in markets that are not active, or other inputs that are observable or can
be corroborated by observable market data for substantially the full term
of the assets or liabilities; or
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·
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Level
3: unobservable inputs that are supported by little or no market activity
and that are significant to the fair value measurement of the assets or
liabilities.
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Fair
Value Measurements Using Input Type
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Level
1
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Level
2
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Level
3
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Total
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Mutual
funds
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$ |
-
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$
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13,832,306 | $ | - | $ | 13,832,306 | |||||
Company
common stock
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- | 4,232,039 | - | 4,232,039 | |||||||||
Pooled
separate accounts
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- | 50,027,049 | - | 50,027,049 | |||||||||
Guaranteed
investment contract
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- | - | 8,209,531 | 8,209,531 | |||||||||
Participants
loans
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- | - | 1,940,387 | 1,940,387 | |||||||||
Total
investments measured at fair value
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$ | - | $ | 68,091,394 | $ | 10,149,918 | $ | 78,241,312 |
Level 3 Assets | ||||||||
Guaranteed
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||||||||
Investment
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Participants
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Contract
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Loans
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Balance
as of December 31, 2007
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$ | 11,052,327 | $ | 1,809,616 | ||||
Issuances,
repayments and settlements, net
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(2,842,796 | ) | 130,771 | |||||
Balance
as of December 31, 2008
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$ | 8,209,531 | $ | 1,940,387 |
PLANTRONICS,
INC.
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EIN: 77-0207692
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401(k)
PLAN
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PLAN
#002
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SCHEDULE
H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
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December
31, 2008
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(c)
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(b)
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Description
of investment including
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(e) | |||||
Identity
of issue,
borrower,
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maturity
date, rate of interest,
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Current
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(a)
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lessor
or similar party
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collateral,
par or maturity value
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value
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Massachusetts
Mutual Life Insurance Company:
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* |
SF
Guaranteed Fund
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Guaranteed
Investment Contract
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$ | 8,678,885 | |||
* |
Babson
Capital Premier Money Market Fund
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Pooled
Separate Account
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16,948,386 | ||||
* |
PIMCO
Total Return Fund
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Pooled
Separate Account
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8,201,848 | ||||
* |
Fidelity
Contrafund
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Pooled
Separate Account
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5,829,798 | ||||
* |
Select
Indexed Equity Fund
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Pooled
Separate Account
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5,809,366 | ||||
* |
OFI
Premier Global
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Pooled
Separate Account
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3,897,582 | ||||
* |
American
Funds Growth Fund of America (R4)
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Pooled
Separate Account
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3,547,213 | ||||
* |
AllianceBernstein
International Growth Fund
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Pooled
Separate Account
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2,432,491 | ||||
* |
Select
Mid Cap Growth II Fund
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Pooled
Separate Account
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1,970,844 | ||||
* |
Pioneer
Cullen Value Fund
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Pooled
Separate Account
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1,262,050 | ||||
* |
Money
Market Holding Account
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Pooled
Separate Account
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127,471 | ||||
58,705,934 | |||||||
Mutual
Funds:
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Davis
New York Venture Fund
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Mutual
Fund
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3,985,825 | |||||
Fidelity
Puritan Fund
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Mutual
Fund
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3,512,478 | |||||
Jennison
Small Company Fund
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Mutual
Fund
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2,118,632 | |||||
Columbia
Mid Cap Value Fund
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Mutual
Fund
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1,695,189 | |||||
Allianz
NFJ Small Cap Value Fund
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Mutual
Fund
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1,557,686 | |||||
Virtus
Real Estate Securities Fund
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Mutual
Fund
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962,496 | |||||
13,832,306 | |||||||
* |
Plantronics,
Inc. Common Stock
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320,609
shares
|
4,232,039 | ||||
* |
Participant
Loans
|
Interest
rates ranging from 4.25% to 11.5%
|
1,940,387 | ||||
Total
investments
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$ | 78,710,666 | |||||
* |
Indicates
a party-in-interest to the Plan.
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23.1
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Consent
of Mohler, Nixon & Williams Accountancy Corporation, Independent
Registered Public Accounting
Firm
|