Document:

IEX-12.31.2014-EX10.23

Exhibit 10.23

Plan:    IDEX Corporation Incentive Award Plan    
As Amended and Restated effective April 6, 2010
IDEX CORPORATION
Restricted Stock Award Agreement
Effective on the Grant Date, you have been granted Restricted Stock, in accordance with the provisions  of this agreement and the provisions of the IDEX Corporation Incentive Award Plan, as Amended and Restated effective April 6, 2010 (the "Plan"), which is incorporated herein by this reference and made a part of this Agreement.  
In addition to the Restricted Stock, you will be paid dividends on the number of shares of Restricted Stock which have not been forfeited.  Dividends will be paid through the normal payroll cycle in cash shortly after dividends are paid to eligible shareholders of common stock.
The Restricted Stock will fully vest and no longer be subject to the restriction of this Agreement on the third anniversary of the Grant Date.
In the event of the termination of your employment or service for any reason, whether such termination is occasioned by you, by IDEX Corporation (the "Company") or any corporation or other entity of which a majority of the outstanding voting stock or voting power is beneficially owned by the Company (its "Subsidiary"), with or without cause or by mutual agreement ("Termination of Service"), your right to vest in the Restricted Stock will terminate effective as of date of Termination of Service.  If your employment or service is in a jurisdiction which requires under applicable statute or common law a notice period for termination or a period of pay in lieu of such notice (each, the "Notice Period"), you have no rights to vest in your Restricted Stock or to receive Dividends during the Notice Period.
Notwithstanding the foregoing, this award shall be fully vested upon your Termination of Service by reason of death or Disability.  "Disability" means that you could qualify to receive long-term disability payments under the Company's long-term disability insurance program, as it may be amended from time to time.   
Further, if a Change in Control of the Company occurs, the restricted stock shall continue in effect, or be assumed or an equivalent Award substituted by the publicly-traded successor or a parent or subsidiary of a successor (with appropriate adjustments in the Award as provided in Section 11.1 of the Plan); provided however, that if you incur a Termination of Service, by the Company without Cause or by reason of your termination for Good Reason, and the date of Termination of Service occurs (or in the case of your termination for Good Reason, the event giving rise to Good Reason occurs), in each case, during the period beginning on the date of the Change in Control and ending on the date that is twenty-four (24) months following the Change in Control, the restricted stock shall be fully vested 

and all forfeiture restrictions shall lapse on your Termination of Service.  “Cause” shall have the meaning set forth in the Participant’s employment or consulting agreement, if any, and if no such agreement exists then it shall mean: (i) failure to perform your material duties (other than as a result of a disability)  if such failure, if curable, is not cured within 30 days after written notice is provided, (ii) your breach of fiduciary duty to the Company, (iii) your indictment under the laws of any jurisdiction in which you reside or are otherwise performing services for the Company or any Subsidiary, for (A) a civil offense which is injurious to the business reputation of the Company or (B) a criminal offense, or (iv) your breach of any material written policy of the Company if such breach, if curable, is not cured within 30 days after written notice is provided by the Company.  "Good Reason" shall have the meaning set forth in the Participant’s employment or consulting agreement, if any, and if no such agreement exists then it shall mean: (i) there has been a material diminution in your responsibilities, duties, title, reporting responsibilities within the business organization, status, role or authority, (ii) a required relocation of more than 50 miles from the location of your principal job location or office immediately prior to the Change In Control, or (iii) a material breach by the Company or Subsidiary of any of the material terms of any agreement covering your terms of employment.  A condition will not be considered “Good Reason” unless you give the Company written notice of the condition within 30 days after the condition comes into existence and the Company fails to substantially remedy the condition within 30 days after receiving your written notice.  
In  the event that the successor in a Change in Control refuses to assume or substitute for the restricted stock, or following the Change in Control neither the Company, any successor thereto, nor any ultimate parent thereof will have equity securities that are readily tradable on a regulated securities exchange, then upon the Change in Control,  the restricted stock shall automatically be fully vested and the holder thereof shall be entitled to receive in the Change in Control an amount of cash equal to the amount that could have been attained upon the vesting  or other payment of such restricted stock. 
If you terminate employment with the Company or any of its Subsidiaries as an employee, but you continue to provide bona fide services under a written agreement with the Company or any of its Subsidiaries as a consultant or contractor you will still be considered to have a Termination of Service upon termination of your employment, unless you enter into a written agreement with the Company explicitly providing that you will not have a Termination of Service, for this plan only, while performing the non-employee services.    
Unless otherwise consented to by the Company, until vested the Restricted Stock is not transferable except by will or the laws of descent and distribution.
The Company will cause the Restricted Stock to either (i) be issued and one or more stock certificates representing the Restricted Stock to be registered in your name or (ii) held in book entry form.   If a stock certificate is issued, such certificate will bear the following legend:
The shares of stock represented by this certificate are subject to forfeiture and the transferability of this certificate and the shares of stock represented hereby are subject to the restrictions, terms and conditions (including restrictions against transfer) contained in the Plan and the Restricted Stock Award Agreement 

effective on the Grant Date, entered into between the registered owner of such shares and IDEX Corporation.  A copy of the Agreement is on file in the office of the Secretary of IDEX Corporation, 1925 West Field Court, Suite 200, Lake Forest, IL  60045.
If a certificate is issued then such certificate, together with stock powers duly executed or related to such Restricted Stock, will be deposited with the Secretary of the Company or a custodian designated by the Secretary.  In such case, the Secretary or custodian will issue a receipt to you evidencing the certificates held that are registered in your name.  Until the Restricted Stock has been issued and registered in your name, you will not be deemed for any purpose to be, or have rights as, a Company shareholder by virtue of this award.  
The Company has the authority to deduct or withhold, or require you to remit to the Company, an amount sufficient to satisfy applicable federal, state, local and foreign taxes arising from the receipt of the shares of Common Stock upon settlement of the Restricted Stock or of cash upon payment of dividends. You may satisfy your tax obligation, in whole or in part, by either: (i) electing to have the Company withhold cash payable, or shares otherwise to be delivered with a fair market value equal to the minimum amount of the tax withholding obligation; (ii) surrendering to the Company previously owned Common Stock with a fair market value equal to the minimum amount of the tax withholding obligation or (iii) by deduction from salary or any other payment payable to you at any time on or after the day an income tax charge arises in respect of the shares.  If you are subject to United Kingdom income tax and/or national insurance contributions, the Company or any Subsidiary may withhold or collect any income tax and national insurance contributions: (i) by deduction from salary or any other payment payable to you at any time on or after the day an income tax charge arises in respect of a Restricted Stock Award; (ii) directly from you by payment of cleared funds; or (iii) by arranging for the sale of some of the shares of Restricted Stock to which you are entitled.
You acknowledge that all employees, including corporate officers, of IDEX are prohibited from engaging in any transaction in which they may profit from short-term speculative swings in the value of the company securities (“hedging”) and agree not to engage in any hedging transactions.  For this purpose, “hedging” includes “short-sales” (selling borrowed securities which the seller hopes can be purchased at a lower price in the future) or “short sales against the box” (selling owned, but not delivered securities), “put” and “call” options (publicly available rights to sell or buy securities within a certain period of time at a specified price or the like), and other hedging transactions designed to minimize the risk inherent in owning IDEX stock, such as zero-cost collars and forward sales contracts.  
Consistent with Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and to the extent not in violation of any applicable law, IDEX reserves the right to recover from current and/or former key employees any wrongfully earned performance-based compensation, including stock-based awards, upon the determination by the Compensation Committee of the following: 

		
	(a)
	there is a restatement of Company financials, due to the material noncompliance with any financial reporting requirement,

		
	(b)
	the cash incentive or equity compensation to be recouped was calculated on, or its realized value affected by, the financial results that were subsequently restated,

		
	(c)
	the cash incentive or equity compensation would have been less valuable than what was actually awarded or paid based upon the application of the correct financial results, and

		
	(d)
	the pay affected by the calculation was earned or awarded within three years of the determination of the necessary restatement

The Compensation Committee has exclusive authority to modify, interpret and enforce this provision in compliance with all regulations.  
You acknowledge and consent to the collection, use, processing and transfer of personal data as described in this paragraph.  The Company, its affiliates and your employer hold certain personal information, including your name, home address and telephone number, date of birth, social security number or other employee tax identification number, salary, nationality, job title, any shares of stock awarded, cancelled, purchased, vested, unvested or outstanding in your favor, for the purpose of managing and administering the Plan ("Data").  The Company and its affiliates will transfer Data to any third parties assisting the Company in the implementation, administration and management of the Plan.  These recipients may be located in the European Economic Area, or elsewhere such as the United States.  You authorize them to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your participation in the Plan, including any requisite transfer of such Data as may be required for the administration of the Plan and/or the subsequent holding of shares of stock on your behalf to a broker or other third party with whom you may elect to deposit any shares of stock acquired pursuant to the Plan.  You may, at any time, review Data, require any necessary amendments to it or withdraw the consent herein in writing by contacting the Company; however, withdrawing the consent may affect your ability to participate in the Plan.
Your participation in the Plan is voluntary.  The value of the Restricted Stock Award is an extraordinary item of compensation outside the scope of your employment contract, if any.  As such, the Restricted Stock Award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pensions or retirement benefits or similar payments unless specifically and otherwise provided.  Rather, the awarding of Restricted Stock under the Plan represents a mere investment opportunity.
This Restricted Stock Award is granted under and governed by the terms and conditions of the Plan.  You acknowledge and agree that the Plan is discretionary in nature and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time.  The grant of a Restricted Stock Award under the Plan is a one-time benefit and does not create any contractual or other right to receive an award of Restricted Stock or benefits in lieu of Restricted Stock in the future.  Future awards of Restricted Stock, if any, will be at the sole discretion of the 

Company, including, but not limited to, the timing of the award, the number of shares, vesting provisions, and the exercise price.  The Plan has been introduced voluntarily by the Company and in accordance with the provisions of the Plan may be terminated by the Company at any time.  By execution of this Agreement, you consent to the provisions of the Plan and this Agreement.  
All cash payments shall be made as determined by the Committee in either US dollars or the local currency applicable to your jurisdiction, after being converted from a US dollar equivalent based on the exchange rate selected by the Committee.  
Defined terms used herein shall have the meaning set forth in the Plan, unless otherwise defined herein.
COMPANY:
IDEX CORPORATION
	
		
	 
	 

	
	 

	By: Frank J. Notaro
	 

	Senior Vice President - General Counsel and SecretaryLithium Exploration Group, Inc.: Exhibit 10.78 - Filed by newsfilecorp.com

	THIS SETTLEMENT AGREEMENT is effective as
      of the 31st day of December, 2014. 
	 	 
	 	  
	BETWEEN: 
	 	LITHIUM EXPLORATION GROUP, INC., with an
      office at 3800 
North Central Avenue, Suite 820, Phoenix, Arizona,
      85012. 
	 	 
	 	
      (the “Company”) 

	 	 
	AND: 
	 
	 	ALEXANDER R. WALSH with an address at
      320 East Fairmont Drive, 
	 	Tempe, Arizona 85282. 
	 	 
	 	(the “Shareholder”) 

WHEREAS the Company has informed the Shareholder that
the Shareholder is liable to the Company for an aggregate amount of $80,523.58
(the “Short Swing Profit”) under Section 16(b) of the Securities Exchange
Act of 1934, as amended (the “Act”) for the profit realized from
transactions in the Company’s common stock as set forth in Schedule “A” attached
hereto. 

NOW THEREFORE THIS SETTLEMENT AGREEMENT WITNESSETH that
in consideration for the premises and mutual covenants and agreements herein
contained, and for other good and valuable consideration, the receipt and
sufficiency of which is also hereby acknowledged by each of the parties hereto,
the parties hereto hereby agree as follows: 

	1. 	
      Disgorgement. In exchange for the forbearance of
      legal action by the Company pursuant to Section 16(b) of the Act, the
      Shareholder agrees to disgorge the Short Swing Profit to the Company as of
      the effective date of this Settlement Agreement.

	 	 
	2. 	
      Governing Law. This agreement and the other
      documents issued pursuant to this Agreement shall be governed by the
      internal laws of the State of Arizona.

	 	 
	3. 	
      Counterparts; Headings. This Agreement may be
      executed in several counterparts, each of which shall be deemed an
      original, but such counterparts shall together constitute but one and the
      same agreement. The Article and Section headings in this Agreement are
      inserted for convenience of reference only and shall not constitute a part
      hereof.

	 	 
	4. 	
      Entire Agreement. This Agreement and the other
      documents referred to herein contain the entire understanding of the
      parties with respect to the subject matter hereof. There are no
      restrictions, promises, warranties, covenants or undertakings concerning
      such subject matter other than those expressly set forth in this
      Agreement. This Agreement supersedes all prior negotiations, agreements
      and undertakings between the parties with respect to such subject
      matter.

	 	 
	5. 	
      Notices. All communications or notices required or
      permitted by this Agreement shall be in writing and shall be deemed to
      have been given at the earlier of the date when actually delivered to an
      individual party or to an officer of a corporate party by personal
      delivery or telephonic facsimile transmission or three (3) business days
      after being deposited in the United States mail, certified or registered
      mail, postage prepaid, and addressed as set forth on the signature pages
      hereto, unless and until any of such parties notifies the others in
      accordance with this Section of a change of
address.

	6. 	
      Amendments. This Agreement may be amended if such
      amendment is in writing and is signed by the all of the parties
    hereto.

	 	 
	7. 	
      Severability. Any provision of this Agreement
      which is prohibited or unenforceable in any jurisdiction shall, as to such
      jurisdiction, be ineffective to the extent of such prohibition or
      unenforceability without invalidating the remaining provisions of this
      Agreement or affecting the validity or enforceability of such provision in
      any other jurisdiction.

	 	 
	8. 	
      Interpretation. Unless the context requires
      otherwise, all words used in this Agreement in the singular number shall
      extend to and include the plural, all words in the plural number shall
      extend to and include the singular, and all words in any gender shall
      extend to and include all genders.

	 	 
	9. 	
      Assignability; Successors. Each party’s right and
      liabilities under this Agreement are not assignable or delegable, in whole
      or in part, without the prior written consent of the other party. The
      provisions of this Agreement shall inure to the benefit of and be binding
      upon the successors and permitted assigns of the
parties.

IN WITNESS WHEREOF, the parties hereto have executed
this Amending Agreement as of the day and year first above written. 

	LITHIUM EXPLORATION GROUP, INC. 	 	  
	  	  	 	  
	  	  	 	  
	Per: 	/s/
      Alexander Walsh 	 	  
	  	Name: Alexander Walsh 	 	  
	  	Title: President and Director 	 	  
	  	  	 	  
	  	  	 	  
	Signed, sealed and delivered by 	) 	 
	ALEXANDER WALSH in the presence of: 	) 	 
	  	  	) 	 
	/s/
      Shanon Chilson	) 	 
	Signature of Witness 	)	 /s/Alexander Walsh 
	  	  	)	 ALEXANDER WALSH 
	Shanon
      Chilson	)	
	Name of Witness 	)	
	  	  	)	

2 

Schedule “A” 

	

      Date of
      
Trade: 

	

      
Type: 

	

      Number
      of 
Shares: 

	

      Price
      per 
share: 

	Aggregate
      

      transaction 
amount: 
	 	Aggregate
      

      transaction 
amount at price 
on Oct. 22/14
      
	

      Short
      swing 
profit: 

	4/29/2014 	Sale 	121,100 	$0.0450 	$5,449.50 	 	$460.18 	$4,989.32 
	5/1/2014 	Sale 	6,400 	$0.0380 	$243.20 	 	$24.32 	$218.88 
	7/8/2014 	Sale 	229,800 	$0.0400 	$9,192.00 	 	$873.24 	$8,318.76 
	7/9/2014 	Sale 	114,000 	$0.0390 	$4,446.00 	 	$433.20 	$4,012.80 
	7/10/2014 	Sale 	52,000 	$0.03900 	$2,028.00 	 	$197.60 	$1,830.40 
	7/11/2014 	Sale 	60,000 	$0.0390 	$2,340.00 	 	$228.00 	$2,112.00 
	7/14/2014 	Sale 	45,000 	$0.0390 	$1,755. 00 	 	$171.00 	$1,584.00 
	7/15/2014 	Sale 	392,180 	$0.0370 	$14,510.66 	 	$1,490.284 	$13,020.376 
	7/16/2014 	Sale 	70,000 	$0.0360 	$2,520.00 	 	$266.00 	$2,254.00 
	7/17/2014 	Sale 	80,000 	$0.0370 	$2,960.00 	 	$304.00 	$2,656.00 
	7/18/2014 	Sale 	120,000 	$0.0360 	$4,320.00 	 	$456.00 	$3,864.00 
	7/21/2014 	Sale 	160,000 	$0.0360 	$5,760.00 	 	$608.00 	$5,152.00 
	7/22/2014 	Sale 	300,000 	$0.0350 	$10,500.00 	 	$1,140.00 	$9,360.00 
	7/23/2014 	Sale 	88,000 	$0.0360 	$3,168.00 	 	$334.40 	$2,833.60 
	7/24/2014 	Sale 	39,020 	$0.0360 	$1,404.72 	 	$148.276 	$1,256.444 
	8/11/2014 	Sale 	70,000 	$0.0360 	$2,520.00 	 	$266.00 	$2,254.00 
	8/19/2014 	Sale 	552,500 	$0.0306 	$16,906.50 	 	$2,099.50 	$14,807.00 
	Total: 	  	2,500,000 	  	$90,023.58 	 	$9,500.00 	$80,523.58 
	

	10/22/2014 	Purchase 	 2,500,000 	$0.0038 	$9,500 	 

3

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