Document:

Exhibit
10.3

SPX
Corporation

Relocation Agreement  

I have been provided with
a copy of SPX Corporation’s Relocation Policy (the “Policy”). I have read the
Policy, understand my benefits and responsibilities, and agree to be bound by
its terms and conditions.  I understand that pursuant to the terms of the
Separation of Employment and Relocation Agreement section of the policy, I
may be required to reimburse SPX Corporation for its expenditures related to my
relocation, if within two (2) years of the effective date of my position
with SPX Corporation, VP, Chief Marketing Officer, which is October 2, 2006, I
terminate my employment voluntarily and without good reason. Each month of
service with SPX will reduce my repayment obligation by 1/24 of the relocation assistance.

Dated this 2 day of
October, 2006.

	
  /s/ Sharon Jenkins

  	
   

  
	
  Employee Signature

  
	
   

  
	
   

  
	
  /s/ Sharon Jenkins

  	
   

  
	
  Employee Name (please print)

  

 

 

Sharon Jenkins

	
  Policy Component

  	
   

  	
  Description

  
	
  Administration

  	
   

  	
  ·         All
  relocation benefits will be administered through SIRVA Relocation LLC
  (SIRVA). 

  
	
  

  	
   

  	
  ·         Benefits
  cannot begin until employee returns a signed Relocation Agreement to Human
  Resources.

  
	
  Expense Reimbursement

  	
   

  	
  ·         A relocation expense form is submitted to SIRVA Relocation
  Counselor with original receipts. 

  ·         Receipts
  required for expenses over $25. 

  ·         Do not submit expenses on a business expense form.

  ·         If
  unsure if expense is reimbursable, contact SIRVA prior to incurring the
  expense. 

  ·         A
  per diem of $30 per day per adult and a per diem of $15 per day per child
  under age 16 is provided to cover daily expenses for meals during the final
  trip. 

  ·         SIRVA
  will distribute reimbursement funds. 

  ·         Relocation
  expense forms are not needed for expenses covered by a lump sum.

  
	
  Home Sale Assistance

  	
   

  	
  ·         Participation
  in the Home Sale Assistance program is mandatory. 

  ·         Qualifications:
  

  
	
  

  	
   

  	
  ·         Employee’s
  home cannot be listed prior to initiation in SIRVA’s program. 

  
	
  

  	
   

  	
  ·         All
  program procedures must be followed. 

  
	
  

  	
   

  	
  ·         Employee
  must warrant that they own and occupied the home. 

  
	
  

  	
   

  	
  ·         All
  required home sale paperwork including a Homeowner’s Disclosure must be
  executed before proceeding with program. 

  
	
  

  	
   

  	
  ·         SIRVA
  orders Broker Market Analyses (BMA) from two SIRVA approved agents. 

  ·         Listing
  agent is chosen. 

  ·         SIRVA
  will list home for sale at a price not more than 105% higher than the most
  probable sales price based on the two BMAs. 

  ·         SIRVA
  assists in marketing the home. 

  ·         If
  after 60 days a buyer has not been procured the appraisal/inspection process
  begins. 

  ·         If
  after 90 days a buyer still has not been procured, SIRVA will make an offer
  to purchase the home subject to inspection results. This offer is available
  for up to 60 days.

  
	
  Home Finding Assistance

  	
   

  	
  ·         Employee
  must allow SIRVA to make the first contact with the real estate agent(s) in
  the new location. 

  ·         Service
  includes: 

  
	
   

  	
   

  	
  ·         An
  evaluation of employee’s needs and wants. 

  ·         Assistance
  with agent selection. 

  ·         Assistance
  with purchase guidelines, negotiations and contracts. 

  ·         Assistance
  obtaining a new mortgage.

  
	
  Home Finding Lump Sum

  	
   

  	
  ·         Company
  will provide a lump sum payment calculated by a software program for
  anticipated home finding expenses. 

  ·         Lump
  sum distributed upon effective date of transfer provided repayment agreement
  is signed and returned.

  
	
  New Home Purchase Assistance

  	
   

  	
  ·         Employee
  must submit a Relocation Expense Reporting Form with appropriate
  documentation to SIRVA for reimbursement of new home purchase expenses. SIRVA
  will advance purchase closing costs off a good faith estimate. 

  

 

 

 

	
  Policy Component

  	
   

  	
  Description

  
	
  

  	
   

  	
  ·         Company
  will reimburse expenses associated with the employee’s primary (first)
  mortgage only.

  
	
  Rented Residence

  	
   

  	
  ·         Lease
  cancellation penalty fee reimbursed up to the amount of two months’ rent
  expense.

  
	
  Temporary Housing

  	
   

  	
  Choice A – Lump Sum 

  
	
  

  	
   

  	
  ·         Employee
  may choose to receive a lump sum payment (calculated by a software program)
  for anticipated temporary housing expenses. 

  
	
  

  	
   

  	
  Choice B – Direct Reimbursement 

  
	
  

  	
   

  	
  ·         Employee
  and family expenses reimbursed for up to 60 days at new location while
  awaiting permanent housing. 

  
	
  

  	
   

  	
  ·         Reimbursable
  expenses include lodging and rental car. 

  ·         Meals
  (a supplemental stipend) 

  
	
  

  	
   

  	
  ·         $250
  a month if cooking facilities available 

  ·         $400
  a month if without cooking facilities 

  
	
  

  	
   

  	
  ·         Trips
  home 

  
	
  

  	
   

  	
  ·         One
  trip home for every two weeks of temporary housing, 4 trip maximum. 

  ·         Spouse
  may make trip to new location in lieu of employee returning to former
  location.

  ·         Only
  transportation is reimbursable.

  
	
  Movement of Household Goods

  	
   

  	
  ·         A
  Company-approved mover is selected. 

  ·         Service
  includes packing, transporting, unloading, unpacking and reassembly. 

  ·         Any
  item(s) lost or damaged while in carrier’s custody, will be either repaired
  or replaced with a similar kind or carrier will pay replacement value of such
  item(s). 

  ·         Maximum
  liability for loss or damage shall be $7.00 per pound, times the actual
  weight of the shipment or $100,000, whichever is less. 

  ·         Storage
  in transit up to 60 days. 

  ·         Up
  to two vehicles shipped to new location if distance is greater than 500
  miles.

  
	
  Travel to the New Location

  	
   

  	
  ·         Reimbursable
  en route expenses include lodging and transportation. 

  ·         Meals
  covered via a per diem of $30 per adult and a per diem of $15 per child under
  age 16 (receipts are not necessary).

  
	
  Employee Assistance Program (EAP)

  	
   

  	
  ·         The
  Company will provide the employee and his/her dependents with resources to
  ease the impact of the transition to the new location. 

  ·         Assistance
  is provided through LifeMatters (1-800-634-6433 or www.neas.com).

  
	
  Miscellaneous Allowance

  	
   

  	
  ·         One
  months’ base salary (grossed-up) to cover miscellaneous expenses.

  
	
  Tax Liability Assistance

  	
   

  	
  ·         Company
  will pay the estimated tax liability (federal, state and FICA) which arises
  from the taxable portion of certain reimbursed moving expenses.

  

 

 2Exhibit
10.4

FORM OF

SPX CORPORATION

CONFIDENTIALITY

AND

NON-COMPETITION AGREEMENT

In
consideration of my employment or continued employment by SPX Corporation or by
the particular division or subsidiary of SPX for which I am employed
(collectively and individually “SPX”), potential future salary and benefit
adjustments and/or promotions, and any other positions that I may subsequently
hold with SPX or any of its affiliated companies, and in specific consideration
for SPX having granted to me in the past and granting to me in the future
access to Confidential and Proprietary Information (as set out in Paragraph 1
below) which I would not have obtained absent my employment with SPX, I, the
undersigned, hereby agree as set forth below.

1.                                       Confidential
or Proprietary Information.

I acknowledge and agree that during the course of my
employment by SPX, I have and will come into contact with and have access to
various technical and non-technical Confidential or Proprietary Information
which is the property of SPX.  This
information relates both to SPX and any persons, firms, corporations or other
entities which are customers of SPX or other entities that have dealings with
SPX.  I acknowledge and agree that I am
being provided access to such Confidential or Proprietary Information subject
to and solely based upon my agreement to the covenants set forth in this
Agreement and I would not otherwise be afforded access to such information.

For purposes of this
Agreement, the term “confidential or proprietary information” shall include,
but not be limited to, SPX’s trade secrets, which includes, but is not limited
to: (i) information with respect to costs, commissions, fees, profits, sales,
markets, products and product formulae, mailing lists, strategies and plans for
future business, new business, product or other development, new and innovative
product ideas, potential acquisitions or divestitures, and new marketing ideas;
(ii) product formulations, methods, procedures, devices, machines, equipment,
data processing programs, software computer models, research projects, and
other means used by SPX in the conduct of its business; (iii) the identity of
SPX’s customers, distributors and suppliers and their names and addresses, the
names of representatives of SPX’s customers, personnel placement prospects or
contacts, distributors or suppliers responsible for entering into contracts
with SPX, the amounts paid by such customers to SPX, specific customer needs
and requirements, and leads and referrals to prospective customers; and (iv)
the identity and number of SPX’s employees, their salaries, bonuses, benefits,
qualifications and abilities; all of which information I acknowledge and agree
is not generally known or available to the general public, but has been
developed, compiled or acquired by SPX at its effort and expense.  Confidential and proprietary information can
be in any form: oral, written or machine readable, including electronic
files.  I further acknowledge and agree
that the confidential and proprietary information is secret, valuable and owned
by SPX, and that SPX has exercised substantial efforts to preserve the secrecy
of the confidential and proprietary information.

I specifically covenant and agree to hold all
Confidential or Proprietary Information and any data or documents containing or
reflecting Confidential or Proprietary Information in the strictest confidence,
and that both during employment and at any time after employment with 

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SPX, I will not, without the prior written consent of
the Chief Executive Officer of SPX, disclose, divulge or reveal to any person,
or use for any purpose other than for the exclusive benefit of SPX, any
Confidential or Proprietary Information, whether contained in my memory or
embodied in writing or other physical form.

2.                                       Non-solicitation
of Customers and Employees.  During
the term of my employment with SPX and for a period of one (1) years
thereafter, I will not solicit, divert or attempt to divert from SPX any
customer or employee whose business or services SPX has enjoyed, solicited or
employed at any time during the two (2) year period immediately prior to my
separation from SPX.

3.                                       Non-retention
of Material.  Upon termination of
employment, I will promptly deliver to SPX, and not keep or deliver to any
person, firm, corporation, association or other entity, all manuals, letters,
notes, notebooks, price lists, customer lists, reports and copies thereof and
all written materials of a confidential or proprietary nature relating to SPX’s
business which are in my possession or under my control.  I also agree not to retain any copies,
duplications, reproductions or excerpts of the foregoing materials.

4.                                       Solicitations.  I agree not to solicit for personal use any
type of gift, paid travel, personal inducement, tickets to an event, invitations
or contributions from a supplier or vendor or from any other third party with
whom SPX presently does business, or may in the future do business, and
acknowledge that violation of this provision will result in disciplinary action
up to and including discharge as determined by SPX in its sole discretion.  The above does not apply to unsolicited gifts
or entertainment of nominal value as described in the Company’s Code of
Conduct.

5.                                       Inventions/Developments.  I agree to hold in confidence and to disclose
to SPX fully and promptly in writing, all inventions, improvements,
discoveries, formulas, processes, technical information, systems, designs,
trademarks, trade names, service marks and suggestions relating in any way to
the business of SPX whether patented, patentable or unpatentable (“Developments”),
which, during the period of my employment by SPX are made, developed or
conceived by me, either solely or jointly with others in the course of such
employment or with the use of SPX’s time, materials or facilities, or relating
to any subject matter with which my work with SPX is or may be concerned, or
relating to any problems arising in SPX’s business of which I have been or may
become informed by reason of my said employment.

I hereby assign, and agree to assign to SPX during my
employment and thereafter, all my rights to and evidence of such rights to the
Developments, whether or not patent applications are filed thereon.  I agree, whenever requested to do so by SPX
during my employment or thereafter, without charge to SPX, but at its expense,
to grant to SPX or its nominee my entire interest in any or all of such
Developments by executing, acknowledging and delivering all documents and by
rendering all assistance such as giving testimony in support of a particular
invention, which SPX may deem necessary or proper for that purpose and for the
purpose of perfecting in SPX title to patents, copyrights or other rights
therefore and reissues, renewals, continuations, divisions, or extensions of
such rights, both domestic and foreign.

6.                                       Non-Competition.  During the term of my employment with any SPX
business unit and for one-year period immediately after termination of said
employment, I will not directly or 

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indirectly accept
employment with or render services on behalf of a competitor of any SPX
business unit at which I have been employed, or any other third party, in any
capacity where the confidential information of an SPX business unit acquired by me during my employment with
an SPX business unit would reasonably be considered to be useful to the
competitor or to such other third party to become a competitor based in whole
or in part on such information.

If any provision of this paragraph is held to be
unenforceable, it shall be curtailed as to time, location or scope to the
extent necessary to be valid under applicable laws, and as so curtailed shall
be enforceable.

7.                                       Conflict
of Interest.  I agree not to
participate as an owner or part-owner in any manner whatsoever in any
proprietorship, partnership, firm, corporation, or other organization or entity
which directly or indirectly competes with SPX, or has any business
relationship with SPX, or is engaged in a business relationship which conflicts
in any way with the interest of SPX, without the express written authorization
of the CEO of SPX.  This covenant shall
not apply to the ownership of less than 1% of the outstanding securities of any
SPX competitor, customer or supplier whose shares of stock are traded on a nationally
recognized stock exchange or over-the-counter market.

8.                                       Termination
of Employment.  Nothing in this
Agreement shall be construed to constitute an agreement or commitment of
employment by SPX for any particular period of time or to limit in any way the
right of SPX or myself to terminate my employment at will.  This Agreement supersedes and rescinds any
and all employment agreements with SPX, whether verbal, written, or otherwise
expressed or implied.  Termination of
employment shall not relieve me of any of my obligations contained in this
Agreement which continue in force and effect after termination of my
employment.

9.                                       Remedies
Upon Breach.  I recognize and
acknowledge that in the event of any default in, or breach of any of the terms,
conditions and provisions of this Agreement (either actual or threatened) by
me, SPX’s remedies at law shall be inadequate. 
Accordingly, I agree that in such events, SPX shall have the right to
specific performance and/or injunctive relief in addition to any and all other
remedies and rights at law or in equity, and such rights and remedies shall be
cumulative.  In the event of a breach of
paragraphs 2 or 6 of this Agreement, and if any customers or employees of SPX
are lost by SPX due to the breach, the parties hereby stipulate that the court
may award damages in an amount equal to two times the highest annual sales
volume (in the case of customer(s)) or highest yearly salary/wages (in the case
of employee(s)) during the five (5) years immediately preceding termination of
my employment.   I further acknowledge
and agree that SPX shall be entitled to recover from me all costs and expenses
incurred by SPX, including its reasonable attorney’s fees and expenses, in
connection with SPX’s enforcement of its rights under this Agreement.

10.                                 Waiver.  Failure to insist upon strict compliance of
any of the terms, covenants or conditions contained in this Agreement shall not
operate as a waiver of such term, covenant or condition, nor shall any waiver
or relinquishment of any right or power hereunder at any one or more time be
deemed a waiver or relinquishment of such right or power at any other time.

11.                                 Severability.  If any provision of this Agreement is
determined by a court of competent jurisdiction to be unenforceable, then the
unenforceable provision shall be severed and the 

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remainder of this Agreement shall be enforced as
though the unenforceable provisions were not included.

12.                                 Binding
Effect.  This Agreement shall be
binding upon and inure to the benefit of the parties hereto, their legal
representatives, heirs, and successors as well as SPX’s divisions,
subsidiaries, affiliates and assigns.  I
acknowledge that I may not assign any of my rights or delegate any of my duties
under this Agreement.

13.                                 Applicable
Law.  This Agreement shall be
construed according to the laws of the State of North Carolina.

14.                                 General.  This Agreement contains the entire
understanding of the parties relating to the subject matters addressed herein,
and supersedes any prior agreements, except for any other confidentiality,
non-compete or other protective covenants between me and SPX, which shall
remain in effect to the extent that they provide greater protection for SPX and
its legitimate protectible interests. 
This Agreement may not be amended, modified or waived, except by a writing
signed by myself and an authorized Officer of SPX.

[SIGNATURE
PAGE FOLLOWS]

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I acknowledge that I have
this day received and read a copy of this Agreement, that I understand its
provisions, and that I will observe and fully comply with its provisions.

	
   

  	
  Employee:

  	
  Date:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SPX Corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
   

  	
   

  	
   

  
								

 

 

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