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                                                                    EXHIBIT 10.1

                         EXECUTIVE INCENTIVE BONUS PLAN


SECTION 1 PURPOSE

         This Executive Incentive Bonus Plan (the "Plan") is intended to enable
IDEX Corporation (the "Company") to attract and retain highly qualified
executives and to provide financial incentives to those executives in order to
promote the success of the Company. The Plan is for the benefit of Eligible
Executives (as defined below). The Plan is designed to ensure that the bonuses
paid hereunder to Eligible Executives are deductible without limit under Section
162(m) of the Internal Revenue Code of 1986, as amended (the "Code"), and the
regulations and interpretations promulgated thereunder.

SECTION 2 ELIGIBLE EXECUTIVES

         "Eligible Executives" are defined as the Chief Executive Officer of the
Company and any other officer of the Company designated by the Compensation
Committee.

SECTION 3 ADMINISTRATION

         The Compensation Committee of the Board of Directors (the "Board")
shall have the sole discretion and authority to administer the Plan, interpret
the terms and provisions of the Plan and to establish, adjust, pay or decline to
pay bonuses under the Plan. The Compensation Committee shall consist of at least
two members of the Board who shall qualify as "outside directors" under Section
162(m) of the Code.

SECTION 4 BONUS DETERMINATIONS

         An Eligible Executive may receive a bonus payment under the Plan based
upon the attainment of performance goals established by the Compensation
Committee, which relate to the achievement of positive "Operating Income." For
purposes of the Plan, "Operating Income" shall mean income from operations of
the Company, before extraordinary items, interest and taxes.

         Within the first ninety (90) days of each fiscal year (or such other
period as may be permitted by Section 162(m) of the Code), the Compensation
Committee will designate those Eligible Executives who are to be participants in
the Plan for that fiscal year and will specify the objective terms and
conditions for the determination and payment of a bonus for each participant.
The objective terms and conditions relating to Operating Income set by the
Compensation Committee may include, but are not limited to, sales growth and
increase in operating margins. In the event of a change in the Company's fiscal
year, the Plan shall apply, with appropriate pro-rata adjustments, to any fiscal
period not consisting of twelve months.

         No bonuses shall be paid to a participant unless and until the
Compensation Committee makes a certification in writing with respect to the
attainment of the performance objectives as required by Section 162(m) of the
Code. Although the Compensation Committee may in its sole discretion reduce a
bonus payable to a participant based on such objective and/or subjective factors
as it may determine, the Compensation Committee shall have no discretion to
increase the amount of a participant's bonus as determined under the applicable
objective terms and conditions established for such bonus amount.

         The maximum bonus that may be payable to any participant for any fiscal
year may not exceed 2.0% of the Company's Operating Income for that fiscal year.



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         Following the Compensation Committee's determination and certification
of the amount of any bonus payable, such amount will be paid in cash (subject to
any election made by an Eligible Executive with respect to the deferral of all
or a portion of his or her bonus or the payment of all or a portion of his or
her bonus in some form other than cash). Payment of the bonus amount will be
made as soon as feasible after the Compensation Committee's certification of the
amount payable but not after two and one-half months following the end of the
fiscal year to which the bonus relates.

SECTION 5 AMENDMENT AND TERMINATION

         The Company reserves the right to amend or terminate the Plan at any
time in its sole discretion. Any amendments to the Plan shall require
shareholder approval only to the extent required by Section 162(m) of the Code.

SECTION 6 SHAREHOLDER APPROVAL

         No bonuses shall be paid under the Plan unless and until the Company's
shareholders shall have approved the Plan and the performance goals as required
by Section 162(m) of the Code. The Plan will be in effect from the time of
shareholder approval to the tenth anniversary of the date of such approval. If
the Plan is amended in any way that changes the material terms of the Plan's
performance goals, including by materially modifying the performance goals,
increasing the maximum bonus payable under the Plan or changing the Plan's
eligibility requirements, the Plan shall be resubmitted to the Company's
shareholders for approval as required by Section 162(m) of the Code.

                                                          * * * *

         I hereby certify that the foregoing Plan was duly approved by the Board
of Directors of IDEX Corporation effective November 28, 2000.

         Executed on this ____ day of ___________, 2001.


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                                      Secretary