EX-10.1



 Exhibit 10.1 
  

			
	



	  	 David N. Farr
 Chairman and

Chief Executive Officer
  

Emerson
 8000 West Florissant Avenue.

P.O. Box 4100
 St. Louis, MO 63136-8506

USA


 November 8, 2017 

Edgar M. Purvis, Jr. 
 8000 West Florissant Ave. 

St. Louis, MO 63136 
 Dear Ed: 

On behalf of the entire Emerson organization, I want to congratulate you on your 34 years of dedicated service and thank you for your significant contributions
to the success of Emerson. This Letter Agreement (“Agreement”) sets out the terms of your retirement, including your resignation as an employee and officer of Emerson Electric Co. Throughout this Agreement, the term “Emerson”
means Emerson Electric Co. together with any and all other entities owned directly or indirectly, in whole or in part, by Emerson Electric Co. Your retirement and the terms of this Agreement are effective as of December 31, 2017
(“Retirement Date”). 
 In consideration of good and valuable consideration provided to you pursuant to this Agreement, you agree as follows: 

1. NON-DISCLOSURE AGREEMENT 

You agree that during your employment you have received and had access to Emerson’s trade secrets and confidential and proprietary information
(“Confidential Information”), which includes or concerns, but is not limited to, attorney/client communications, global strategic communications, information pertaining to strategic planning or other strategy, mergers and acquisitions,
corporate technology, intellectual property, customers, pricing, business methods and operations, business policies, procedures, practices and techniques, legal opinions and legal matters, research or development projects or results, sales,
finances, products, suppliers, personnel performance and compensation, plans for future development, marketing practices, market participation, market studies, and financial forecasts and budgeting. You agree that disclosure of such Confidential
Information would be detrimental to Emerson and agree that at no time following termination of your employment with Emerson will you directly or indirectly disclose or cause the disclosure of any Confidential Information to any person, firm,
corporation, or entity, no matter what the purpose. You further agree that you will not directly or indirectly disclose the terms of this Agreement to any person except as authorized specifically herein. 

The non-disclosure obligations set forth above shall not apply to the extent it is necessary for you to: report income
to taxing authorities; communicate with your attorneys or agents to obtain legal and/or financial planning advice after any such attorneys or agents bind themselves in writing to the same non-disclosure
obligations as set forth above; or, to respond to any lawfully issued subpoena or order of a court of competent jurisdiction or legitimate discovery request pursuant to state or federal rules of civil








 
procedure. If any such subpoena, order of court or discovery request is received, you agree to send to Emerson’s General Counsel no later than two days after receipt via email to
sara.bosco@emerson.com or via hand-delivery. 
 You agree also to deliver to the office of Emerson’s General Counsel within a three day period
following the Retirement Date all such Confidential Information, any other property of Emerson, and all copies thereof in your possession or control, whether in handwritten, typed, printed, graphic or electronic form (whether stored on Emerson-owned
or personally owned or used devices, including but not limited to personal computers, tablets, smart phones, memory sticks, thumb drives, or on-site or off-site storage
locations). If after such three-day period you determine that you have any Confidential Information or other property of Emerson in your possession or control, you shall immediately deliver such Confidential
Information or property to the office of Emerson’s General Counsel. You further agree to deliver your signed certification of compliance with the provisions of this paragraph promptly upon request made to you in writing by Emerson’s
General Counsel. 
 2. NON-DISPARAGEMENT AGREEMENT 

You will not individually or through third-parties make any public or private statement with respect to any aspect of your employment with Emerson, your
retirement, or the terms of this Agreement. If inquiry is made by anyone regarding your employment by, or retirement from, Emerson, you agree to state only “I will retire (or have retired) from Emerson effective December 31, 2017. I
personally decide to retire and I have enjoyed my many years with Emerson. Emerson is a tremendous company and I wish it well.” 
 You also agree that
you will not, directly or indirectly, disparage or make or cause to be made, any comments, statements, or communications of any sort to anyone—whether true or false—that may reasonably be considered to be derogatory or detrimental to
Emerson or any Released Parties (as defined in the Release Agreement attached as Exhibit A), their reputations, or their services. You acknowledge that Emerson has a good reputation locally, nationally and internationally, and you will take no
action or engage in any conduct that could injure or diminish that good reputation. 
 3.
NON-COMPETITION AND NON-SOLICITATION AGREEMENTS 
 You also agree that
you will not, without prior written consent from both Emerson’s Chief Executive Officer and General Counsel, directly or indirectly for a period of five years from your Retirement Date (“Restricted Period”): 

(a) enter the employ of, provide consulting services to, assist, or have any financial interest in, any person, firm, corporation, or other
entity engaged in business activities anywhere in the world that directly or indirectly competes with the businesses of Emerson as conducted on the date of this Agreement or as contemplated on the date hereof to be developed during the Restricted
Period; 
 (b) acquire in any manner any investment in, or provide services to in any capacity, any equity fund, hedge fund, or other
investment vehicle, however structured, that either directly or indirectly or through portfolio company investments or otherwise competes with the businesses of Emerson as conducted on the date hereof or as contemplated on the date hereof to be
developed during the Restrictive Period; 
 (c) assist any third party in connection with any acquisition of any business of Emerson, whether
through an acquisition or stock or assets or otherwise, or in the sale of any business to Emerson; 

  
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 (d) assist any third party in connection with any attempt to assert control over or influence the
management of Emerson, whether through the acquisition or stock by such third party, addition of board members recommended by such third party, a proxy solicitation by such third party or otherwise; 

(e) accept or solicit business from or attempt to solicit or accept business from any person that is a customer of Emerson; 

(f) divert, take any action to induce, or encourage a customer of Emerson to reduce or cease doing business with Emerson; 

(g) solicit, hire, or attempt to solicit or hire any person that currently or during the Restricted Period is an employee, agent or consultant
of Emerson to leave such employment or separate his or her relationship with Emerson or induce any such person to do anything which you are restricted from doing by reason of this Agreement; or 

(h) engage in any other action that might undermine the business interests of Emerson. 

The foregoing shall not restrict you from owning not more than five percent of the securities of any competitor of Emerson that is listed on any national
securities exchange, traded over-the-counter, or that is otherwise available for investment by the general public as long as you have no relationship with the issuer of such securities or any affiliate
thereof, except as an investor. 
 4. REASONABLENESS ENFORCEABILITY AND LIQUIDATED DAMAGES 

You agree that the restrictions contained in Paragraph 3, including those on time and scope, are reasonable for the protection of Emerson in light of your in-depth knowledge of Emerson’s global business, your present and prior positions with Emerson, and your access to Confidential Information relating to all of Emerson’s businesses. You also affirm your
agreement to comply with all existing non-competition, invention disclosure and assignment, non-disclosure and non-solicitation
obligations you have with Emerson, including specifically your obligations under the Emerson Incentive Shares plans and related performance shares and restricted stock award agreements, and Emerson stock option plans and related option agreements,
and Emerson non-qualified supplemental executive retirement plan participation. You agree that your obligations set forth in this Agreement are in addition to and do not invalidate or supersede your
obligations under other plans, agreements or contracts unless in direct conflict, in which case the terms of this Agreement shall prevail. 
 You agree and
acknowledge that Emerson would not enter into this Agreement and provide the valuable consideration offered to you herein but for the restrictions in this Agreement. You agree that a violation of this Agreement and the other agreements referenced in
this Section 4 would result in irreparable injury to Emerson and that, in the event of a violation or a reasonably perceived threatened violation of any of the aforementioned restrictions, Emerson shall be entitled to immediate, preliminary and
permanent injunctive relief which is in addition to any other remedies to which Emerson may be entitled. You further agree to reimburse Emerson for all costs, expenses and reasonable attorneys’ fees Emerson incurs to seek enforcement of any
provision contained herein, whether or not litigation is commenced. 
 You agree that any breach of this Agreement will result in immediate forfeiture by
you of all payments to be made or benefits provided to you under this Agreement. You also agree as liquidated damages for any such breach to repay to Emerson one-half of the economic value of all benefits
provided to you under this Agreement prior to the date of breach. You agree that this liquidated damage provision and other remedies are necessary because substantial damage will accrue to Emerson as the result of a


  
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breach, and the amount of damages attributable to such breach may be uncertain and difficult to calculate. Payment of liquidated damages shall in no way affect the settlement and release of
claims by you, nor shall payment of liquidated damages limit the enforceability of any clause in this Agreement or any other agreement referenced in this Section 4 or the ability of Emerson to seek damages and any other relief from you as
provided under applicable law or any agreement between you and Emerson. 
 5. RELEASE AND DISCHARGE 

You will release and discharge Emerson and its respective Directors, officers, employees and agents from any and all claims or liability of whatever nature and
will execute on your Retirement Date the Release Agreement attached hereto as Exhibit A. If the Release Agreement attached as Exhibit A is not executed by you, this Agreement shall be null and void. You also agree that no benefits or other
compensation described in this Agreement (other than the payment of your base salary described in Section 8.A. hereof, shall be paid or provided to you until expiration of the seven-day revocation period
set forth in Paragraph 3(e) of the Release Agreement. 
 6. RESIGNATIONS 

On or before the Retirement Date, you agree to execute the Officer Resignation Form attached hereto as Exhibit B. 

7. CLAWBACK 
 You agree that you will
remain subject to Emerson’s Clawback Policy, which provides: “If the Board determines that an executive officer has engaged in intentional misconduct that caused or partially caused a material restatement of the Company’s consolidated
financial statements, the Board may, to the extent permitted by law and to the extent it determines that it is in the Company’s best interests to do so, require reimbursement to the Company of, or reduce or cancel, that portion of annual
incentive or any long-term incentive compensation paid or credited to such executive officer on or after February 1, 2015 that would not have been paid or credited had the consolidated financial statements that are the subject of such
restatement been correctly stated. For purposes of this policy, the term “executive officer” means any officer of the Company who is required to file reports pursuant to Section 16 of the Securities Exchange Act of 1934.” 

8. COMPENSATION AND BENEFITS 
 Subject to
and conditioned upon your compliance with your obligations and covenants in this Agreement and any other agreement entered into between you and Emerson, you will receive the compensation and benefits outlined below. The compensation and benefits set
forth herein are in lieu of and replace any other compensation or benefits to which you may be entitled from Emerson: 
 A. You will remain
on the Emerson payroll and receive your current base salary through your retirement date. 
 B. Effective as of the Retirement Date and until
you attain the age of 65, you and all qualified beneficiaries may participate in Emerson’s retiree medical plan on the same terms and conditions as other pre-age 65 eligible Emerson retirees. 

C. You may continue coverage under the former split dollar and group universal life policies owned by you through your retirement date. After
your retirement, you may continue coverage under such policies at your own expense, subject to the terms of the underlying policies. 

  
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 D. Your executive perquisites, including leased automobile, club dues, executive physical and
financial tax planning, will end on the Retirement Date. 
 E. In accordance with the terms of the applicable Emerson stock option plans, and
as approved by the Compensation Committee of the Board of Directors, all options previously awarded to you under Emerson’s stock option plans that have not already vested will vest as of the Retirement Date, and all options vested as of the
Retirement Date will be exercisable for a period of up to five (5) years after the Retirement Date, but no longer than the original expiration date of the option. 

F. The Compensation Committee has determined that you will remain eligible to receive, subject to the other applicable terms of Emerson’s
Incentive Shares Plans and the applicable Performance Shares Program, including achievement of the performance objectives under each Program, and based on the actual payout percentage applicable to all participants in each Program, payment of your
2016 and 2017 Performance Shares Program awards. Payments under the Programs will be made at the time provided therefor under the Program. 

G. Pursuant to the terms of Emerson’s Incentive Shares Plans, the Compensation Committee has determined that your awards of restricted
shares will continue to vest at the times specified in such awards, i.e., November 1, 2019 and October 3, 2021, respectively, and be payable to you upon the vesting date of such awards, and that you will continue to receive dividends on
such restricted share awards to the extent provided in the applicable award agreements. 
 H. Pursuant to the terms and conditions of the
qualified all-employee Emerson Electric Co. Retirement Plan, you will be eligible to receive your monthly pension benefits accrued under such plan as of the Retirement Date. Pursuant to the terms and
conditions of the related Emerson Electric Co. Pension Restoration Plan (the non-qualified supplemental executive retirement plan which covers the benefits you would have been eligible to receive under the aforesaid
all-employee Retirement Plan were it not for the compensation limitations imposed under the Internal Revenue Code (“Code”)), you will be eligible to receive your monthly pension benefits accrued as
of your Retirement Date under such plan as of your attainment of age 65 (subject to your acceptance of the terms of the award document). Payments of your pension benefits under each of the aforesaid plans will be paid monthly in the manner and times
set forth in such plans, subject to the terms and conditions of such plans. 
 I. You will be eligible to receive distributions from your
Emerson Electric Co. Employee Savings Investment Plan (401(k) plan) to the extent permitted under the terms of the plan and applicable law. You will be eligible to receive distributions under the Emerson Electric Co. Savings Investment Restoration
Plan (non-qualified 401(k) plan), subject to the provisions of the plan and your distribution elections thereunder. Distributions from these plans which are not “grandfathered” under
Section 409A of the Code shall be deferred to the extent required by Code Section 409A. 
 J. All payments and other benefits
provided for under this Agreement, including but not limited to any performance shares program payouts, vesting of restricted stock, or shares of stock issued to you upon exercise of your stock options, will be subject to income tax and other
withholdings as required by law. 
 K. Except as provided for specifically above, after the Retirement Date you will not be permitted to
continue participating in any Emerson benefit or compensation programs including, but not limited to, the qualified and non-qualified 401(k) plans and the disability insurance program. 

  
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 L. Notwithstanding any other provisions of this Agreement, if at any time after the Restricted
Period you engage in an activity in which you are prohibited from engaging hereunder during the Restricted Period, Emerson shall be relieved of all, and shall have no further, obligations to provide the payments or benefits specified in this
Section 8 (unless otherwise required by law). 
 This Agreement is deemed to be entered in the State of Missouri and, without regard to conflict of
laws principles, shall be interpreted in accordance with and governed by the laws of the State of Missouri. Emerson and you agree that any legal action or proceeding with respect to this Agreement shall be brought and determined in the courts of the
County of St. Louis, State of Missouri or of the United States of America for the Eastern District of Missouri and that you submit to the jurisdiction of such courts with respect to any such action or proceeding. 

You acknowledge that Emerson has advised you to consult with an attorney if you need assistance in reviewing or understanding this Agreement or any of the
documents referenced in this Agreement, including the Release Agreement. 
 Please confirm that the foregoing represents your understanding of our entire
agreement by signing in the space provided below. Once again, I thank you for your many years of dedicated service to Emerson, and I wish you the very best in your retirement. 

 

	
	 Sincerely,
  

/s/ David N. Farr
 David N.
Farr
 Chairman & Chief Executive Officer



 ACCEPTED AND AGREED TO THIS 8th 

DAY OF NOVEMBER 2017 
 /s/ E.M. Purvis, Jr. 

	
	Edgar M. Purvis, Jr.


  
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 EXHIBIT A – RELEASE AGREEMENT 

This Release Agreement is Exhibit A to that certain Letter Agreement by and between Emerson Electric Co. (“Employer”) and Edgar M.
Purvis, Jr. (“Employee”) dated November 8, 2017 the (“Letter Agreement”). In consideration of the mutual promises and covenants contained in the Letter Agreement and herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties do hereby agree as follows: 
 1. Employment.
Employee was previously employed by Employer. The employment of Employee with Employer has ended as a result of Employee’s retirement from Employer effective December 31, 2017. 

2. Release. For and in consideration of the covenants, terms and conditions set forth in the Letter Agreement and this
Release Agreement, Employee, for himself and his heirs, to the fullest extent permitted by law, agrees to and does hereby waive, covenant not to sue, releases, and forever discharges Employer, and each and every one of Employer’s parent,
subsidiary and other affiliated entities (the “Emerson Entities”), and their respective agents, employees, officers, directors, stockholders, managers, members, successors, predecessors, contractors, attorneys, external counsel, agents and
assigns (collectively referred to as “Released Parties”), from and with respect to all matters, claims, charges, demands, damages, causes of action, debts, liabilities, controversies, judgments, and suits of every kind and nature
whatsoever, foreseen or unforeseen, known or unknown, arising prior to the date this Release Agreement becomes effective and including, but not limited to, those in any way related to Employee and/or Employee’s separation from employment. This
release by Employee of Released Parties expressly includes, but is not limited to, any claim or cause of action against Released Parties related to or arising out of tort, contract, equity, implied covenant, invasion of privacy, defamation, personal
injury, wrongful discharge, emotional distress, discrimination (whether based on race, sex, age, color, national origin, religion, disability, or any other class protected by law), harassment, retaliation, claims for workers’ compensation
benefits, claims for unpaid wages, any claim under the Age Discrimination in Employment Act, 29 U.S.C. §621 et seq., Title VII of the Civil Rights Act of 1964, 42 U.S.C. §2000e et seq., the Civil Rights Act of 1866, 42 U.S.C. §1981,
the Americans With Disabilities Act, 42 U.S.C. §12101, et seq., the Employee Retirement Income Security Act of 1974, 29 U.S.C. §1001, et seq., the Family Medical Leave Act, 29 U.S.C. §2601 et seq., the Fair Labor Standards Act of
1938, 29 U.S.C. §201 et seq., the Missouri Human Rights Act, Mo. Rev. Stat. §213.010 et seq.; the Missouri Equal Pay for Women Act, Mo. Rev. Stat. §290.400 et seq., the Missouri Service Letter statute Mo. Rev. Stat. §290.14, the
Missouri Minimum Wage Law, Mo. Rev. Stat. §290.010 et seq., the Missouri Wage Payment Law, Mo. Rev. Stat. §290.010 et seq., any claim under common law, and any claim under any federal, state or local statute, regulation, constitution,
order or executive order. This release also expressly includes, but is not limited to, any claim for attorneys’ fees or costs. Employee affirms and warrants that he has made no charge, claim, complaint, or otherwise initiated action against
Employer in any government agency, court or other forum and that no such matter is pending. Employee further affirms and warrants that Employee has not been retaliated against for reporting, or taking any actions, pertaining to allegations of
wrongdoing by Employer or its officers and employees. Employee avers and agrees that he has no personal knowledge of any employee, officer or director of Employer engaging in any act related to the performance of their duties at or for Employer,
which Employee knows or believes to be illegal and Employee acknowledges that he has never complained of any unlawful conduct by Employer. Employee hereby releases and relinquishes any and all rights to employment, reinstatement and any right to
future employment with Employer or the Emerson Entities. Employee also waives and 

  
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releases any right or ability to be a class or collective action representative or to otherwise participate in any putative or certified class, collective or multi-party action or proceeding
based on a claim in which Employer or any one or more Released Parties is a party. Notwithstanding the foregoing, Employee is not waiving any right to enforce any term or provision of the Letter Agreement, or any claims solely relating to the
validity of this Release Agreement under the Age Discrimination in Employment Act. 
 3. Waiver of ADEA Rights. By
execution of this Release Agreement, Employee expressly waives any and all rights or claims arising under the Age Discrimination in Employment Act of 1967 (“ADEA”) and 

(a) Employee has read this Agreement, and the Letter Agreement, in their entirety and understands all of their terms; and 

(b) Employee acknowledges and agrees that the waiver of his rights or claims arising under the ADEA is in exchange for the
consideration provided in the Letter Agreement which, Employee agrees, is beyond that to which Employee is otherwise entitled; and 

(c) Employee acknowledges that Employer has, and does, hereby expressly advise him to consult with an attorney of his choosing,
at his own expense, prior to executing this Release Agreement and the Letter Agreement; and 
 (d) Employee agrees that he
has been given a period of not less than forty- five (45) days from receipt of this document within which to consider this Release Agreement and the Letter Agreement, and that if Employee elects to sign this Release Agreement prior to
the expiration of the 45-day consideration period specified herein, he does so knowingly and voluntarily and with full opportunity to consult with an attorney; and 

(e) Employee acknowledges he has been advised by Employer that he is entitled to revoke this Release Agreement (in the event he
executes this Release Agreement) within seven (7) days after executing it and that this Agreement will not and does not become effective or enforceable until the seven (7) day revocation period has expired; and 

(f) The parties agree that should Employee exercise his right to revoke the waiver under this paragraph 3, this entire Release
Agreement and Letter Agreement, and their obligations, are null and void and of no effect and, notwithstanding any other provision of this Release Agreement or the Letter Agreement to the contrary, no payment or other consideration shall be due,
owing, paid or provided until the seven (7) day revocation period has expired without revocation by Employee. Notice of Employee’s decision to revoke the waiver may be sent to Emerson’s Senior Vice President, Secretary and General
Counsel by fax (at 314-553-3205), email to sara.bosco@emerson.com or hand-delivery. 

4. Remedies. Without limiting the remedies available to Employer for any breach of this Release Agreement, Employee agrees
that any breach of either this Release Agreement or the Letter Agreement will result in immediate forfeiture of any future payments to be made to, or benefits to be provided to, Employee and all other remedies and relief as specifically set forth
further in the Letter Agreement shall be available to Employer. 
 5. Successors and Assigns. This Release Agreement
binds, and inures to the benefit of, the parties’ respective heirs, administrators, representatives, executors, successors, and assigns. 

  
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 6. Review by Employee. Employee acknowledges that he has read the provisions
of this Release Agreement, that Employee was advised of his right to review this Release Agreement with an attorney at his expense, and that Employee fully understands the meaning and intent of this Release Agreement and agrees to all of its terms.

  

			
	EMPLOYEE
	  
 /s/ E.M. Purvis,
Jr.

	Edgar M. Purvis, Jr.
		
	Date:	 	 11/8/2017




  
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 EXHIBIT – OFFICER RESIGNATION 

I, Edgar M. Purvis, Jr., do hereby submit my resignation, effective December 31, 2017, from my position as Executive Vice President and Chief Operating
Officer of Emerson Electric Co., as well as from any other positions I may hold with any subsidiaries or affiliates of Emerson. 
  

	
	 /s/ E.M. Purvis, Jr.

	Edgar M. Purvis, Jr.