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                                                                   EXHIBIT 10.11

                                                                [EXECUTION COPY]

                              EMPLOYMENT AGREEMENT

        This Employment Agreement (the "Agreement"), dated as of November 25,
2002 (the "Effective Date"), is made by and between Rexnord Corporation, a
Delaware corporation, (together with any successor thereto, the "Company") and
Michael Andrzejewski (the "Executive").

RECITALS

A.      It is the desire of the Company to assure itself of the services of the
        Executive by engaging the Executive to perform services under the terms
        hereof.

B.      The Executive desires to provide services to the Company on the terms
        herein provided.

AGREEMENT

        NOW, THEREFORE, in consideration of the foregoing and of the respective
covenants and agreements set forth below the parties hereto agree as follows:

1.      CERTAIN DEFINITIONS.

        (a)     "Agreement" shall have the meaning set forth in the preamble
                hereto.

        (b)     "Annual Base Salary" shall have the meaning set forth in SECTION
                3(a).

        (c)     "Board" shall mean the Board of Directors of the Company.

        (d)     The Company shall have "Cause" to terminate the Executive's
                employment hereunder upon:

                (i)     the Board's determination that the Executive failed to
                        carry out, or comply with, in any material respect any
                        lawful and reasonable directive of the Board consistent
                        with the terms of this Agreement, which is not remedied
                        within 30 days after receipt of written notice from the
                        Company specifying such failure;

                (ii)    the Executive's conviction, plea of no contest, plea of
                        NOLO CONTENDERE, or imposition of unadjudicated
                        probation for any felony;

                (iii)   the Executive's unlawful use (including being under the
                        influence) or possession of illegal drugs; or

                (iv)    the Executive's commission of an act of fraud,
                        embezzlement, misappropriation, willful misconduct, or
                        breach of fiduciary duty against the Company.

        (e)     "Company" shall have the meaning set forth in the preamble
                hereto.

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        (f)     "Compensation Committee" means the Compensation Committee of the
                Board.

        (g)     "Date of Termination" shall mean (i) if the Executive's
                employment is terminated by his death, the date of his death;
                (ii) if the Executive's employment is terminated pursuant to
                SECTIONS 4(a)(ii) - (vi) either the date indicated in the Notice
                of Termination or the date specified by the Company pursuant to
                SECTION 4(b), whichever is earlier; (iii) if the Executive's
                employment is terminated pursuant to SECTION 4(a)(vii) or
                SECTION 4(a)(viii), the expiration of the then-applicable Term.

        (h)     "Disability" shall mean, at any time the Company or any of its
                affiliates sponsors a long-term disability plan for the
                Company's employees "disability" as defined in such long-term
                disability plan for the purpose of determining a participant's
                eligibility for benefits, provided, however, if the long-term
                disability plan contains multiple definitions of disability,
                "Disability" shall refer that definition of disability which, if
                the Executive qualified for such disability benefits, would
                provide coverage for the longest period of time. The
                determination of whether the Executive has a Disability shall be
                made by the person or persons required to make disability
                determinations under the long-term disability plan. At any time
                the Company does not sponsor a long-term disability plan for its
                employees, Disability shall mean the Executive's inability to
                perform, with or without reasonable accommodation, the essential
                functions of his position hereunder for a total of three months
                during any six month period as a result of incapacity due to
                mental or physical illness as determined by a physician selected
                by the Company or its insurers and acceptable to the Executive
                or the Executive's legal representative, such agreement as to
                acceptability not to be unreasonably withheld or delayed. Any
                refusal by the Executive to submit to a medical examination for
                the purpose of determining Disability shall be deemed to
                constitute conclusive evidence of the Executive's Disability.

        (i)     "Effective Date" shall have the meaning set forth in the
                preamble hereto.

        (j)     "Executive" shall have the meaning set forth in the preamble
                hereto.

        (k)     "Executive Bonus Plan" shall mean the bonus plan attached hereto
                as EXHIBIT A as in effect during the term of this Agreement.

        (l)     (i)     The Executive shall have "Good Reason" to resign his
                        employment upon the occurrence of any of the following:

                        (A)     failure of the Company to continue the Executive
                                in the position of Vice President of Business
                                Development;

                        (B)     a material diminution in the nature or scope of
                                the Executive's responsibilities, duties or
                                authority;

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                        (C)     failure of the Company to make any payment or
                                provide any benefit under this Agreement;

                        (D)     the relocation of the Executive's principal
                                place of business to a location that is in
                                excess of 50 miles from the Executive's current
                                place of business; or

                        (E)     the Company's material breach of this Agreement.

                (ii)    The Executive may not resign his employment for Good
                        Reason unless:

                        (A)     the Executive provided the Company with at least
                                30 days prior written notice of his intent to
                                resign for Good Reason; and

                        (B)     the Company has not remedied the alleged
                                violation(s) within the 30-day period.

        (m)     "Inventions" shall have the meaning set forth in SECTION 8.

        (n)     "Notice of Termination" shall have the meaning set forth in
                SECTION 4(b).

        (o)     "Severance Period" shall have the meaning set forth in SECTION
                5(c)(i).

        (p)     "Term" shall have the meaning set forth in SECTION 2(b).

2.      EMPLOYMENT.

        (a)     The Company shall employ the Executive and the Executive shall
                enter the employ of the Company, for the period set forth in
                SECTION 2(b), in the position set forth in SECTION 2(c), and
                upon the other terms and conditions herein provided.

        (b)     The initial term of employment under this Agreement (the
                "Initial Term") shall be for the period beginning on the
                Effective Date of this Agreement and ending on the third
                anniversary thereof, unless earlier terminated as provided in
                SECTION 4. The employment term hereunder shall automatically be
                extended for successive one-year periods ("Extension Terms" and,
                collectively with the Initial Term, the "Term") unless either
                party gives notice of non-extension to the other no later than
                90 days prior to the expiration of the then-applicable Term. For
                purposes of this Agreement, a notice of non-extension given by
                the Company shall be treated as a termination of the Executive's
                employment without Cause.

        (c)     POSITION AND DUTIES. During the term of this Agreement, the
                Executive shall serve as the Vice President of Business
                Development of Rexnord Corporation with such customary
                responsibilities, duties and authority as may from time to time
                be assigned to the Executive by the Board. The Executive shall
                report to the Chief Executive Officer of the Company. The
                Executive shall devote substantially all his working time and
                efforts to the business and affairs of the Company. The
                Executive agrees to observe and comply with the Company's rules
                and policies as

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                adopted by the Company from time to time. During the Term, it
                shall not be a violation of this Agreement for the Executive to
                (i) serve on industry trade, civic or charitable boards or
                committees; (ii) deliver lectures or fulfill speaking
                engagements; or (iii) manage personal investments, as long as
                such activities do not interfere with the performance of the
                Executive's duties and responsibilities as an employee of the
                Company. During his employment and during the Severance Period,
                the Executive agrees not to disparage in any material respect
                the Company, any of its products or practices, or any of its
                directors, officers, agents, representatives, stockholders or
                affiliates, either orally or in writing. The Company agrees that
                during the Executive's employment and during the Severance
                Period, none of the members of the Board of the Company or the
                Officers of the Company will disparage the Executive in any
                material respect, either directly or in writing to third
                parties.

3.      COMPENSATION AND RELATED MATTERS.

        (a)     ANNUAL BASE SALARY. During the Term, the Executive shall receive
                a base salary at a rate of $200,000 per annum, which shall be
                paid in accordance with the customary payroll practices of the
                Company, subject to increase as determined by the Compensation
                Committee (the "Annual Base Salary"). The Executive's Annual
                Base Salary shall be reviewed by the Compensation Committee
                annually, beginning for the fiscal year that commences on April
                1, 2003.

        (b)     ANNUAL BONUS. Effective as of the 2004 fiscal year and
                continuing during the term of this Agreement, the Executive
                shall be eligible to receive a bonus as set forth in the
                Executive Bonus Plan if the Executive satisfies the performance
                targets and other criteria set forth in the Executive Bonus
                Plan.

        (c)     EQUITY/MEMBERSHIP ARRANGEMENT. During the Term, the Executive
                shall be entitled to participate in the Stock Option Plan of RBS
                Global, Inc. and on the Effective Date shall be granted options,
                as of the Effective Date, to purchase 14,654 shares of RBS
                Global, Inc. common stock at an exercise price of $100 per
                share. The grant of stock options shall be governed by the terms
                of the stock option plan and stock option agreement (attached
                hereto as EXHIBIT B and EXHIBIT C, respectively).

        (d)     INVESTMENT. On the Effective Date, the Executive shall
                personally invest $100,000 in shares of RBS Global, Inc. common
                stock.

        (e)     BENEFITS. The Executive shall be entitled to participate in
                employee benefit plans, programs and arrangements of the Company
                now (or, to the extent determined by the Board, hereafter) in
                effect which are applicable to the senior officers of the
                Company as set forth in EXHIBIT D attached hereto.

        (f)     VACATION. During the Term, the Executive shall be entitled to
                vacation each calendar year in accordance with the Company's
                policy. Any vacation shall be

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                taken at the reasonable and mutual convenience of the Company
                and the Executive.

        (g)     EXPENSES. The Company shall reimburse the Executive for all
                reasonable travel and other business expenses incurred by him in
                the performance of his duties to the Company in accordance with
                the Company's expense reimbursement policy.

        (h)     KEY PERSON INSURANCE. At any time during the Term, the Company
                shall have the right to insure the life of the Executive for the
                Company's sole benefit. The Company shall have the right to
                determine the amount of insurance and the type of policy. The
                Executive shall cooperate with the Company in obtaining such
                insurance by submitting to physical examinations, by supplying
                all information reasonably required by any insurance carrier,
                and by executing all necessary documents reasonably required by
                any insurance carrier. The Executive shall incur no financial
                obligation by executing any required document, and shall have no
                interest in any such policy.

4.      TERMINATION.

        The Executive's employment hereunder may be terminated by the Company or
the Executive, as applicable, without any breach of this Agreement only under
the following circumstances:

        (a)     CIRCUMSTANCES.

                (i)     DEATH. The Executive's employment hereunder shall
                        terminate upon his death.

                (ii)    DISABILITY. If the Executive has incurred a Disability,
                        the Company may give the Executive written notice of its
                        intention to terminate the Executive's employment. In
                        that event, the Executive's employment with the Company
                        shall terminate effective on the 30th day after receipt
                        of such notice by the Executive, provided that within
                        the 30 days after such receipt, the Executive shall not
                        have returned to full-time performance of his duties.

                (iii)   TERMINATION FOR CAUSE. The Company may terminate the
                        Executive's employment for Cause.

                (iv)    TERMINATION WITHOUT CAUSE. The Company may terminate the
                        Executive's employment without Cause.

                (v)     RESIGNATION FOR GOOD REASON. The Executive may resign
                        his employment for Good Reason.

                (vi)    RESIGNATION WITHOUT GOOD REASON. The Executive may
                        resign his employment without Good Reason.

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                (vii)   NON-EXTENSION OF TERM BY THE COMPANY. The Company may
                        give notice of non-extension to the Executive pursuant
                        to SECTION 2(b).

                (viii)  NON-EXTENSION OF TERM BY THE EXECUTIVE. The Executive
                        may give notice of non-extension to the Company pursuant
                        to SECTION 2(b).

        (b)     NOTICE OF TERMINATION. Any termination of the Executive's
                employment by the Company or by the Executive under this SECTION
                4 (other than termination pursuant to paragraph (a)(i)) shall be
                communicated by a written notice to the other party hereto
                indicating the specific termination provision in this Agreement
                relied upon, setting forth in reasonable detail the facts and
                circumstances claimed to provide a basis for termination of the
                Executive's employment under the provision so indicated, and
                specifying a Date of Termination which, if submitted by the
                Executive, shall be at least 30 days following the date of such
                notice (a "Notice of Termination") provided, however, that the
                Company may, in its sole discretion, accelerate the Date of
                Termination to any date following the Company's receipt of the
                Notice of Termination. A Notice of Termination submitted by the
                Company may provide for a Date of Termination on the date the
                Executive receives the Notice of Termination, or any date
                thereafter elected by the Company in its sole discretion. The
                failure by the Executive or the Company to set forth in the
                Notice of Termination any fact or circumstance which contributes
                to a showing of Cause or Good Reason shall not waive any right
                of the Executive or the Company hereunder or preclude the
                Executive or the Company from asserting such fact or
                circumstance in enforcing the Executive's or the Company's
                rights hereunder.

        (c)     COMPANY OBLIGATIONS UPON TERMINATION. Upon termination of the
                Executive's employment, the Executive (or the Executive's
                estate) shall be entitled to receive the sum of the Executive's
                Annual Base Salary through the Date of Termination not
                theretofore paid, any expenses owed to the Executive under
                SECTION 3(g), any accrued vacation pay owed to the Executive
                pursuant to SECTION 3(f), and any amount arising from the
                Executive's participation in, or benefits under any employee
                benefit plans, programs or arrangements under SECTION 3(e),
                which amounts shall be payable in accordance with the terms and
                conditions of such employee benefit plans, programs or
                arrangements.

5.      SEVERANCE PAYMENTS.

        (a)     TERMINATION UPON DEATH. If the Executive's employment shall
                terminate as a result of the Executive's death pursuant to
                SECTION 4(a)(i), the Company shall pay to the Executive's estate
                a prorated amount of the Executive's Annual Bonus based on the
                Company's year-to-date performance through the Date of
                Termination in relation to the performance targets and other
                criteria set forth in the Executive Bonus Plan (such amount to
                be determined in good faith by the Compensation Committee).

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        (b)     TERMINATION UPON DISABILITY. If the Executive's employment shall
                terminate as a result of the Executive's Disability pursuant to
                SECTION 4(a)(ii), the Company shall pay to the Executive:

                (i)     in accordance with the Company's regular payroll
                        practice following the Date of Termination, an amount
                        equal to the Annual Base Salary that the Executive would
                        have been entitled to receive if the Executive had
                        continued his employment for a period of 12 months
                        following the Date of Termination; and

                (ii)    a prorated amount of the Executive's Annual Bonus based
                        on the Company's year-end performance in relation to the
                        performance targets and other criteria set forth in the
                        Executive Bonus Plan, which such amount will be paid at
                        the end of the bonus period when the year-end
                        performance of the Company has been determined and
                        bonuses are paid to other executives (such amount to be
                        determined in good faith by the Compensation Committee).

        (c)     TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON. If the
                Executive's employment shall terminate without Cause pursuant to
                SECTION 4(a)(iv) or for Good Reason pursuant to SECTION 4(a)(v),
                the Company shall:

                (i)     pay to the Executive, in accordance with the Company's
                        regular payroll practice following the Date of
                        Termination, an amount equal to the Annual Base Salary
                        that the Executive would have been entitled to receive
                        if the Executive had continued his employment hereunder
                        for a period of 12 months following the Date of
                        Termination (the "Severance Period"); and

                (ii)    subject to SECTION 5(e), continue to provide, during the
                        Severance Period, coverage for the Executive and any
                        dependents under all Company group health benefit plans
                        (including health, dental and vision coverage) in which
                        the Executive and any dependents were entitled to
                        participate immediately prior to the Date of
                        Termination, to the extent permitted thereunder;

                PROVIDED THAT, in the event of a non-extension of Term by the
                Company, the time periods set forth in SECTIONS 5(c)(i) and
                5(c)(ii) shall begin to run on the Date of Termination.

        (d)     SURVIVAL. The expiration or termination of the Term shall not
                impair the rights or obligations of any party hereto, which
                shall have accrued prior to such expiration or termination.

        (e)     MITIGATION OF DAMAGES. In the event of any termination of the
                Executive's employment by the Company other than for retirement,
                the Executive shall be required to seek other employment to
                mitigate damages, and any employee benefits received by the
                Executive from other full-time employment or self-employment

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                shall be offset against any obligation of the Company to provide
                benefits to the Executive pursuant to this SECTION 5.

6.      COMPETITION.

        (a)     The Executive shall not, at (x) any time during the Term of this
                Agreement, if this Agreement terminates pursuant to SECTION
                4(a)(i) or SECTION 4(a)(ii); (y) any time during the Term of
                this Agreement or during the Severance Period plus six months,
                whichever is longer, if this Agreement terminates pursuant to
                SECTION 4(a)(iv) or SECTION 4(a)(v); or (z) any time during the
                Term of this Agreement or during the Term of this Agreement plus
                18 months, whichever is longer, if this Agreement terminates
                pursuant to SECTION 4(a)(iii) or SECTION 4(a)(vi); directly or
                indirectly engage in, have any equity interest in, or manage or
                operate any person, firm, corporation, partnership or business
                (whether as director, officer, employee, agent, representative,
                partner, security holder, consultant or otherwise) that engages
                in any business which competes with any business of the Company
                or any entity owned by the Company anywhere in the world
                PROVIDED, HOWEVER, that the Executive shall be permitted to
                acquire a passive stock or equity interest in such a business
                provided the stock or other equity interest acquired is not more
                than five percent (5%) of the outstanding interest in such
                business.

        (b)     During the Term of this Agreement if this Agreement terminates
                pursuant to SECTION 4(a)(i) OR SECTION 4(a)(ii); or during the
                Term of this Agreement or during the Term of this Agreement plus
                18 months, whichever is longer, if this Agreement terminates
                pursuant to SECTION 4(a)(iii) through SECTION 4(a)(viii); the
                Executive will not, and will not permit any of his affiliates
                to, directly or indirectly, recruit or otherwise solicit or
                induce any employee, customer, subscriber or supplier of the
                Company to terminate its employment or arrangement with the
                Company, otherwise change its relationship with the Company, or
                establish any relationship with the Executive or any of his
                affiliates for any business purpose deemed competitive with the
                business of the Company.

        (c)     In the event the terms of this SECTION 6 shall be determined by
                any court of competent jurisdiction to be unenforceable by
                reason of its extending for too great a period of time or over
                too great a geographical area or by reason of its being too
                extensive in any other respect, it will be interpreted to extend
                only over the maximum period of time for which it may be
                enforceable, over the maximum geographical area as to which it
                may be enforceable, or to the maximum extent in all other
                respects as to which it may be enforceable, all as determined by
                such court in such action.

7.      NONDISCLOSURE OF PROPRIETARY INFORMATION.

        (a)     Except as required in the faithful performance of the
                Executive's duties hereunder or pursuant to SECTION 7(c), the
                Executive shall, in perpetuity, maintain in confidence and shall
                not directly, indirectly or otherwise, use, disseminate,
                disclose or publish, or use for his benefit or the benefit of
                any person, firm,

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                corporation or other entity any confidential or proprietary
                information or trade secrets of or relating to the Company,
                including, without limitation, information with respect to the
                Company's operations, processes, products, inventions, business
                practices, finances, principals, vendors, suppliers, customers,
                potential customers, marketing methods, costs, prices,
                contractual relationships, regulatory status, compensation paid
                to employees or other terms of employment, or deliver to any
                person, firm, corporation or other entity any document, record,
                notebook, computer program or similar repository of or
                containing any such confidential or proprietary information or
                trade secrets. The parties hereby stipulate and agree that as
                between them the foregoing matters are important, material and
                confidential proprietary information and trade secrets and
                affect the successful conduct of the businesses of the Company
                (and any successor or assignee of the Company).

        (b)     Upon termination of the Executive's employment with the Company
                for any reason, the Executive will promptly deliver to the
                Company all correspondence, drawings, manuals, letters, notes,
                notebooks, reports, programs, plans, proposals, financial
                documents, or any other documents concerning the Company's
                customers, business plans, marketing strategies, products or
                processes.

        (c)     The Executive may respond to a lawful and valid subpoena or
                other legal process but shall give the Company the earliest
                possible notice thereof, shall, as much in advance of the return
                date as possible, make available to the Company and its counsel
                the documents and other information sought and shall assist such
                counsel in resisting or otherwise responding to such process.

8.      INVENTIONS.

        All rights to discoveries, inventions, improvements and innovations
(including all data and records pertaining thereto) related to the Company's
business, whether or not patentable, copyrightable, registrable as a trademark,
or reduced to writing, that the Executive may discover, invent or originate
during the Term, and for a period of 12 months thereafter, either alone or with
others and whether or not during working hours or by the use of the facilities
of the Company ("Inventions"), shall be the exclusive property of the Company.
The Executive shall promptly disclose all Inventions to the Company, shall
execute at the request of the Company any assignments or other documents the
Company may deem necessary to protect or perfect its rights therein, and shall
assist the Company, at the Company's expense, in obtaining, defending and
enforcing the Company's rights therein. The Executive hereby appoints the
Company as his attorney-in-fact to execute on his behalf any assignments or
other documents deemed necessary by the Company to protect or perfect its rights
to any Inventions.

9.      INJUNCTIVE RELIEF.

        It is recognized and acknowledged by the Executive that a breach of the
covenants contained in SECTIONS 6, 7 and 8 will cause irreparable damage to
Company and its goodwill, the exact amount of which will be difficult or
impossible to ascertain, and that the remedies at law for any such breach will
be inadequate. Accordingly, the Executive agrees that in the event of a

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breach of any of the covenants contained in SECTIONS 6, 7 and 8, in addition to
any other remedy which may be available at law or in equity, the Company will be
entitled to specific performance and injunctive relief.

10.     ASSIGNMENT AND SUCCESSORS.

        The Company may assign its rights and obligations under this Agreement
to any entity, including any successor to all or substantially all the assets of
the Company, by merger or otherwise, and may assign or encumber this Agreement
and its rights hereunder as security for indebtedness of the Company and its
affiliates. The Executive may not assign his rights or obligations under this
Agreement to any individual or entity. This Agreement shall be binding upon and
inure to the benefit of the Company, the Executive and their respective
successors, assigns, personnel and legal representatives, executors,
administrators, heirs, distributees, devisees, and legatees, as applicable.

11.     GOVERNING LAW.

        This Agreement shall be governed, construed, interpreted and enforced in
accordance with the substantive laws of the state of Delaware, without reference
to the principles of conflicts of law of Delaware or any other jurisdiction, and
where applicable, the laws of the United States.

12.     VALIDITY.

        The invalidity or unenforceability of any provision or provisions of
this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement, which shall remain in full force and effect.

13.     NOTICES.

        Any notice, request, claim, demand, document and other communication
hereunder to any party shall be effective upon receipt (or refusal of receipt)
and shall be in writing and delivered personally or sent by telex, telecopy, or
certified or registered mail, postage prepaid, as follows:

        (a)     If to the Company:

                Rexnord Corporation
                [Address]
                Fax.:
                Attn:

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                with a copy to:

                TC Group, L.L.C.
                1001 Pennsylvania Avenue, N.W.
                Suite 220 South
                Washington, D.C.  20004
                Fax:
                Attn:

                and a copy to:

                Latham & Watkins
                555 Eleventh Street, N.W.
                10th Floor
                Fax: (202) 637-2201
                Attn: Daniel T. Lennon

        (b)     If to the Executive:

                Michael Andrzejewski
                _____________________
                _____________________

        or at any other address as any party shall have specified by notice in
writing to the other party.

14.     COUNTERPARTS.

        This Agreement may be executed in several counterparts, each of which
shall be deemed to be an original, but all of which together will constitute one
and the same Agreement.

15.     ENTIRE AGREEMENT.

        The terms of this Agreement and the other agreements and instruments
contemplated hereby or referred to herein (collectively the "Related
Agreements") are intended by the parties to be the final expression of their
agreement with respect to the employment of the Executive by the Company and may
not be contradicted by evidence of any prior or contemporaneous agreement. The
parties further intend that this Agreement and the Related Agreements shall
constitute the complete and exclusive statement of their terms and that no
extrinsic evidence whatsoever may be introduced in any judicial, administrative,
or other legal proceeding to vary the terms of this Agreement and the Related
Agreements.

16.     SOLE EMPLOYMENT AGREEMENT.

        The Executive acknowledges and agrees that he has taken all actions
required under the terms of any prior employment agreement with Rexnord
Corporastion, Invensys, plc or any of their successors, predecessors or
affiliated in order to terminate that employment and that, to the

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best of his knowledge, the provisions contained in that employment agreement do
not bind the Company.

17.     AMENDMENTS; WAIVERS.

        This Agreement may not be modified, amended, or terminated except by an
instrument in writing, signed by the Executive and a duly authorized officer of
Company. By an instrument in writing similarly executed, the Executive or a duly
authorized officer of the Company may waive compliance by the other party or
parties with any provision of this Agreement that such other party was or is
obligated to comply with or perform, provided, however, that such waiver shall
not operate as a waiver of, or estoppel with respect to, any other or subsequent
failure. No failure to exercise and no delay in exercising any right, remedy, or
power hereunder preclude any other or further exercise of any other right,
remedy, or power provided herein or by law or in equity.

18.     NO INCONSISTENT ACTIONS.

        The parties hereto shall not voluntarily undertake or fail to undertake
any action or course of action inconsistent with the provisions or essential
intent of this Agreement. Furthermore, it is the intent of the parties hereto to
act in a fair and reasonable manner with respect to the interpretation and
application of the provisions of this Agreement.

19.     CONSTRUCTION.

        This Agreement shall be deemed drafted equally by both the parties. Its
language shall be construed as a whole and according to its fair meaning. Any
presumption or principle that the language is to be construed against any party
shall not apply. The headings in this Agreement are only for convenience and are
not intended to affect construction or interpretation. Any references to
paragraphs, subparagraphs, sections or subsections are to those parts of this
Agreement, unless the context clearly indicates to the contrary. Also, unless
the context clearly indicates to the contrary, (a) the plural includes the
singular and the singular includes the plural; (b) "and" and "or" are each used
both conjunctively and disjunctively; (c) "any," "all," "each," or "every" means
"any and all," and "each and every"; (d) "includes" and "including" are each
"without limitation"; (e) "herein," "hereof," "hereunder" and other similar
compounds of the word "here" refer to the entire Agreement and not to any
particular paragraph, subparagraph, section or subsection; and (f) all pronouns
and any variations thereof shall be deemed to refer to the masculine, feminine,
neuter, singular or plural as the identity of the entities or persons referred
to may require.

20.     ARBITRATION.

        Any dispute or controversy arising under or in connection with this
Agreement shall be settled exclusively by arbitration, conducted before an
arbitrator in Wisconsin in accordance with the rules of the American Arbitration
Association then in effect. Judgment may be entered on the arbitration award in
any court having jurisdiction, provided, however, that the Company shall be
entitled to seek a restraining order or injunction in any court of competent
jurisdiction to prevent any continuation of any violation of the provisions of
SECTIONS 6, 7 or 8 of the

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Agreement and the Executive hereby consents that such restraining order or
injunction may be granted without requiring the Company to post a bond. Only
individuals who are (i) lawyers engaged fulltime in the practice of law; and
(ii) on the AAA register of arbitrators shall be selected as an arbitrator.
Within 20 days of the conclusion of the arbitration hearing, the arbitrator
shall prepare written findings of fact and conclusions of law. It is mutually
agreed that the written decision of the arbitrator shall be valid, binding,
final and non-appealable, provided however, that the parties hereto agree that
the arbitrator shall not be empowered to award punitive damages against any
party to such arbitration. The arbitrator fees and expenses will be borne
equally by each party. In the event that an action is brought to enforce the
provisions of this Agreement pursuant to this SECTION 20, each party shall pay
its own attorney's fees and expenses regardless of whether in the opinion of the
court or arbitrator deciding such action there is a prevailing party.

21.     ENFORCEMENT.

        If any provision of this Agreement is held to be illegal, invalid or
unenforceable under present or future laws effective during the term of this
Agreement, such provision shall be fully severable; this Agreement shall be
construed and enforced as if such illegal, invalid or unenforceable provision
had never comprised a portion of this Agreement; and the remaining provisions of
this Agreement shall remain in full force and effect and shall not be affected
by the illegal, invalid or unenforceable provision or by its severance from this
Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable
provision there shall be added automatically as part of this Agreement a
provision as similar in terms to such illegal, invalid or unenforceable
provision as may be possible and be legal, valid and enforceable.

22.     WITHHOLDING.

        The Company shall be entitled to withhold from any amounts payable under
this Agreement any federal, state, local or foreign withholding or other taxes
or charges which the Company is required to withhold. The Company shall be
entitled to rely on an opinion of counsel if any questions as to the amount or
requirement of withholding shall arise.

23.     EMPLOYEE ACKNOWLEDGEMENT.

        The Executive acknowledges that he has read and understands this
Agreement, is fully aware of its legal effect, has not acted in reliance upon
any representations or promises made by the Company other than those contained
in writing herein, and has entered into this Agreement freely based on his own
judgment.

                            [SIGNATURE PAGES FOLLOW]

                                       13
<Page>

        IN WITNESS WHEREOF, the parties have executed this Agreement on the date
and year first above written.

                                              COMPANY

                                              By:          /s/ Praveen Jayarajah
                                                   -----------------------------
                                                   Name:
                                                   Title:

                                              EXECUTIVE

                                              By:              /s/
                                                   -----------------------------
                                                   Name:    Michael Andrzejewski
                                                   Address: 6670 Hillridge Drive
                                                            Greendale, WI 53129

                                       14<Page>

                                                                   EXHIBIT 10.12

                                STOCK OPTION PLAN
                                       OF
                                RBS GLOBAL, INC.

        RBS Global, Inc. (the "Company"), a Delaware corporation, hereby adopts
this Stock Option Plan of RBS Global, Inc. The purposes of this Plan are as
follows:

        (1)     To further the growth, development and financial success of the
        Company and its Subsidiaries (as defined herein), by providing
        additional incentives to employees, consultants and directors of the
        Company and its Subsidiaries who have been or will be given
        responsibility for the management or administration of the Company's (or
        one of its Subsidiaries') business affairs, by assisting them to become
        owners of Common Stock, thereby benefiting directly from the growth,
        development and financial success of the Company and its Subsidiaries.

        (2)     To enable the Company (and its Subsidiaries) to obtain and
        retain the services of the type of professional, technical and
        managerial employees, consultants and directors considered essential to
        the long-range success of the Company (and its Subsidiaries) by
        providing and offering them an opportunity to become owners of Common
        Stock under Options, including, in the case of employees, Options that
        are intended to qualify as "incentive stock options" under Section 422
        of the Code (as defined herein).

                                   ARTICLE I.
                                   DEFINITIONS

        Whenever the following terms are used in this Plan, they shall have the
meaning specified below unless the context clearly indicates to the contrary.
The singular pronoun shall include the plural where the context so indicates.

        SECTION 1.1     AFFILIATE

        "Affiliate" shall mean, with respect to any Person, any other Person
directly or indirectly controlling, controlled by, or under common control with,
such Person where "control" shall have the meaning given such term under Rule
405 of the Securities Act. For purposes of this Plan, Affiliates of Carlyle
Partners III, L.P., a Delaware limited liability company, shall include all
Persons directly or indirectly controlled by TC Group, L.L.C., a Delaware
limited liability company.

        SECTION 1.2     BOARD

        "Board" shall mean the Board of Directors of the Company.

        SECTION 1.3     CEO

        "CEO" shall mean Chief Executive Officer of the Company.

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        SECTION 1.4     CODE

        "Code" shall mean the Internal Revenue Code of 1986, as amended.

        SECTION 1.5     COMMITTEE

        "Committee" shall mean the Committee appointed as provided in Section
6.1.

        SECTION 1.6     COMMON STOCK

        "Common Stock" shall mean the Common Stock, par value $0.01 per share,
of the Company.

        SECTION 1.7     COMPANY

        "Company" shall mean RBS Global, Inc. In addition, "Company" shall mean
any corporation assuming, or issuing new employee stock options in substitution
for, Incentive Stock Options outstanding under the Plan in a transaction to
which Section 424(a) of the Code applies.

        SECTION 1.8     CONSULTANT

        "Consultant" shall mean any Person who has entered into a consulting
agreement with the Company.

        SECTION 1.9     CORPORATE EVENT

        "Corporate Event" shall mean, as determined by the Committee (or by the
Board, in the case of Options granted to Independent Directors) in its sole
discretion, any transaction or event described in Section 7.1(a) or any unusual
or nonrecurring transaction or event affecting the Company, any Subsidiary of
the Company, or the financial statements of the Company or any Subsidiary, or
changes in applicable laws, regulations, or accounting principles.

        SECTION 1.10    DIRECTOR

        "Director" shall mean a member of the Board.

        SECTION 1.11    ELIGIBLE REPRESENTATIVE

        "Eligible Representative" for an Optionee shall mean such Optionee's
personal representative or such other person as is empowered under the deceased
Optionee's will or the then applicable laws of descent and distribution to
represent the Optionee hereunder.

        SECTION 1.12    EMPLOYEE

        "Employee" shall mean any employee (as defined in accordance with the
regulations and revenue rulings then applicable under Section 3401(c) of the
Code) of the Company or one of its Subsidiaries, whether such employee is so
employed at the time this Plan is adopted or becomes so employed subsequent to
the adoption of this Plan.

                                        2
<Page>

        SECTION 1.13    EXCHANGE ACT

        "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.

        SECTION 1.14    INCENTIVE STOCK OPTION

        "Incentive Stock Option" shall mean an Option which qualifies under
Section 422 of the Code and is designated as an Incentive Stock Option by the
Committee.

        SECTION 1.15    INDEPENDENT DIRECTOR

        "Independent Director" shall mean a member of the Board who is not an
Employee of the Company or any of its Subsidiaries.

        SECTION 1.16    LIQUIDITY EVENT

        "Liquidity Event" shall mean the consummation of the sale, transfer,
conveyance or other disposition in one or a series of related transactions, of
the equity securities of the Company or its successor held by the Principal
Stockholder(s) in exchange for currency such that immediately following such
transaction (or transactions), the value (at original cost) of all equity
securities held by all of the Principal Stockholder(s) is in the aggregate less
than 20% of the equity securities (at original cost) held by the Principal
Stockholder(s) as of November 25, 2002.

        SECTION 1.17    NON-QUALIFIED STOCK OPTION

        "Non-Qualified Stock Option" shall mean an Option which is not an
"incentive stock option" under Section 422 of the Code and shall include an
Option which is designated as a Non-Qualified Stock Option by the Committee.

        SECTION 1.18    OFFICER

        "Officer" shall mean an officer of the Company, as defined in Rule
16a-l(f) under the Exchange Act, as such Rule may be amended in the future.

        SECTION 1.19    OPTION

        "Option" shall mean an option granted under the Plan to purchase Common
Stock. "Options" includes both Incentive Stock Options and Non-Qualified Stock
Options.

        SECTION 1.20    OPTIONEE

        "Optionee" shall mean an Employee, Consultant or Independent Director to
whom an Option is granted under the Plan.

        SECTION 1.21    PERSON

        "Person" shall mean an individual, partnership, corporation, limited
liability company, business trust, joint stock company, trust, unincorporated
association, joint venture, governmental authority or other entity of whatever
nature.

                                        3
<Page>

        SECTION 1.22    PLAN

        "Plan" shall mean this Stock Option Plan of RBS Global, Inc.

        SECTION 1.23    PRINCIPAL STOCKHOLDER(S)

        "Principal Stockholder(s)" shall mean Carlyle Partners III, L.P. or any
of its Affiliates to which (a) Carlyle Partners III, L.P. or any other Person
transfers Common Stock, or (b) the Company issues Common Stock.

        SECTION 1.24    SECRETARY

        "Secretary" shall mean the Secretary of the Company.

        SECTION 1.25    SECURITIES ACT

        "Securities Act" shall mean the Securities Act of 1933, as amended.

        SECTION 1.26    STOCKHOLDERS AGREEMENT

        "Stockholders Agreement" shall mean that certain agreement by and
between the Optionee and the Company which contains certain restrictions and
limitations applicable to the shares of Common Stock acquired upon Option
exercise (and to other shares of Common Stock, if any, held by the Optionee
during the term of such agreement). The Board, in its discretion, shall
determine the terms of the Stockholders Agreement and may amend the terms
thereof from time to time. If the Optionee is not a party to a Stockholders
Agreement at the time of exercise of the Option (or any portion thereof), the
exercise of the Option shall be subject to the condition that the Optionee enter
a Stockholders Agreement with the Company.

        SECTION 1.27    SUBSIDIARY

        "Subsidiary" of any entity shall mean any corporation in an unbroken
chain of corporations beginning with such entity if each of the corporations
other than the last corporation in the unbroken chain then owns stock possessing
50% or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain.

        SECTION 1.28    TERMINATION OF DIRECTORSHIP

        "Termination of Directorship" shall mean the time when an Optionee who
is an Independent Director ceases to be a Director for any reason, including but
not by way of limitation, a termination by resignation, failure to be elected or
appointed, death or retirement. The Board, in its sole discretion, shall
determine the effect of all matters and questions relating to Termination of
Directorship.

        SECTION 1.29    TERMINATION OF EMPLOYMENT

        "Termination of Employment" shall mean the time when the
employee-employer relationship between an Optionee and the Company (or one of
its Subsidiaries) is terminated for

                                        4
<Page>

any reason, with or without cause, including, but not by way of limitation, a
termination by resignation, discharge, death or retirement, but excluding a
termination where there is a simultaneous reemployment by the Company (or one of
its Subsidiaries). The Committee shall determine the effect of all matters and
questions relating to Termination of Employment, including, but not by way of
limitation, the question of whether a Termination of Employment resulted from a
discharge for good cause, and all questions of whether a particular leave of
absence constitutes a Termination of Employment; provided, however, that, with
respect to Incentive Stock Options, a leave of absence shall constitute a
Termination of Employment if, and to the extent that, such leave of absence
interrupts employment for the purposes of Section 422(a)(2) of the Code and the
then applicable regulations and revenue rulings under Section 442(a)(2) of the
Code.

                                   ARTICLE II.
                             SHARES SUBJECT TO PLAN

        SECTION 2.1     SHARES SUBJECT TO PLAN

        The shares of stock subject to Options shall be shares of Common Stock.
Subject to Section 7.1, the aggregate number of such shares which may be issued
upon exercise of Options is 234,457.

        SECTION 2.2     UNEXERCISED OPTIONS

        If any Option (or portion thereof) expires or is canceled without
having been fully exercised, the number of shares subject to such Option (or
portion thereof) but as to which such Option was not exercised prior to its
expiration or cancellation may again be optioned hereunder, subject to the
limitations of Section 2.1.

                                  ARTICLE III.
                               GRANTING OF OPTIONS

        SECTION 3.1     ELIGIBILITY

        Any Employee of the Company or one of its Subsidiaries, any Independent
Director and any Consultant shall be eligible to be granted Options, except as
provided in Section 3.2.

        SECTION 3.2     QUALIFICATION OF INCENTIVE STOCK OPTIONS

        No Incentive Stock Option shall be granted to any person who is not an
Employee.

        SECTION 3.3     GRANTING OF OPTIONS TO EMPLOYEES OR CONSULTANTS

                (a)     The Committee shall from time to time:

                        (i)     Select from among the Employees or Consultants
                        (including those to whom Options have been previously
                        granted under the Plan) such of them as in its opinion
                        should be granted Options;

                                        5
<Page>

                        (ii)    Determine the number of shares to be subject to
                        such Options granted to such Employees or Consultants,
                        and determine whether such Options are to be Incentive
                        Stock Options or Non-Qualified Stock Options; and

                        (iii)   Determine the terms and conditions of such
                        Options, consistent with the Plan.

                (b)     Upon the selection of an Employee or Consultant to be
                granted an Option pursuant to Section 3.3(a), the Committee
                shall instruct the Secretary or another authorized officer of
                the Company to issue such Option and may impose such conditions
                on the grant of such Option as it deems appropriate. Without
                limiting the generality of the preceding sentence, the Committee
                may require as a condition to the grant of an Option to an
                Employee or Consultant that the Employee or Consultant surrender
                for cancellation some or all of the unexercised Options which
                have been previously granted to him or her. An Option the grant
                of which is conditioned upon such surrender may have an Option
                price lower (or higher) than the Option price of the surrendered
                Option, may cover the same (or a lesser or greater) number of
                shares as the surrendered Option, may contain such other terms
                as the Committee deems appropriate and shall be exercisable in
                accordance with its terms, without regard to the number of
                shares, price, period of exercisability or any other term or
                condition of the surrendered Option.

        SECTION 3.4     GRANTING OF OPTION TO INDEPENDENT DIRECTORS

                (a)     The Board shall from time to time:

                        (i)     Select from among the Independent Directors
                        (including those to whom Options have previously been
                        granted under the Plan) such of them as in its opinion
                        should be granted Options;

                        (ii)    Determine the number of shares to be subject to
                        such Options granted to such selected Independent
                        Directors; and

                        (iii)   Determine the terms and conditions of such
                        Options, consistent with the Plan; provided, however,
                        that all Options granted to Independent Directors shall
                        be Non-Qualified Stock Options.

                (b)     Upon the selection of an Independent Director to be
                granted an Option pursuant to Section 3.4(a), the Board shall
                instruct the Secretary or another authorized officer of the
                Company to issue such Option and may impose such conditions on
                the grant of such Option as it deems appropriate. Without
                limiting the generality of the preceding sentence, the Board may
                require as a condition to the grant of an Option to an
                Independent Director that the Independent Director surrender for
                cancellation some or all of the unexercised Options which have
                been previously granted to him or her. An Option the grant of
                which is conditioned upon such surrender may have an Option
                price lower (or higher) than the Option price of the surrendered
                Option, may cover the same (or a lesser or greater)

                                        6
<Page>

                number of shares as the surrendered Option, may contain such
                other terms as the Board deems appropriate and shall be
                exercisable in accordance with its terms, without regard to the
                number of shares, price, period of exercisability or any other
                term or condition of the surrendered Option.

                                   ARTICLE IV.
                                TERMS OF OPTIONS

        SECTION 4.1     STOCK OPTION AGREEMENT

        Each Option shall be evidenced by a written Stock Option Agreement,
which shall be executed by the Optionee and an authorized Officer of the Company
and which shall contain such terms and conditions as the Committee (or the
Board, in the case of Options granted to Independent Directors) shall determine,
consistent with the Plan. Stock Option Agreements evidencing Incentive Stock
Options shall contain such terms and conditions as may be necessary to qualify
such Options as "incentive stock options" under Section 422 of the Code.

        SECTION 4.2     EXERCISABILITY OF OPTIONS

                (a)     Each Option shall become exercisable according to the
                terms of the applicable Stock Option Agreement; provided,
                however, that by a resolution adopted after an Option is granted
                the Committee (or the Board, in the case of Options granted to
                Independent Directors) may, on such terms and conditions as it
                may determine to be appropriate, accelerate the time at which
                such Option or any portion thereof may be exercised.

                (b)     Except as otherwise provided in the applicable Stock
                Option Agreement, no portion of an Option which is unexercisable
                at Termination of Employment, Termination of Directorship or
                Termination of Consultancy, as applicable, shall thereafter
                become exercisable.

                (c)     To the extent that the aggregate fair market value of
                stock with respect to which "incentive stock options" (within
                the meaning of Section 422 of the Code, but without regard to
                Section 422(d) of the Code) are exercisable for the first time
                by an Optionee during any calendar year (under the Plan and all
                other incentive stock option plans of the Company or any
                Subsidiary thereof) exceeds $100,000, such options shall be
                treated and taxable as Non-Qualified Stock Options. The rule set
                forth in the preceding sentence shall be applied by taking
                options into account in the order in which they were granted,
                and the stock issued upon exercise of options shall designate
                whether such stock was acquired upon exercise of an Incentive
                Stock Option. For purposes of these rules, the fair market value
                of stock shall be determined as of the date of grant of the
                Option granted with respect to such stock.

        SECTION 4.3     OPTION PRICE

                (a)     The price of the shares subject to each Option shall be
                set by the Committee (or the Board, in the case of Options
                granted to Independent

                                        7
<Page>

                Directors); provided, however, that in the case of an Incentive
                Stock Option, the price per share shall be not less than 100% of
                the fair market value of such shares on the date such Option is
                granted; and that in the case of an individual then owning
                (within the meaning of Section 424(d) of the Code) more than 10%
                of the total combined voting power of all classes of stock of
                the Company, the price per share shall not be less than 110% of
                the fair market value of such shares on the date such Incentive
                Stock Option is granted.

                (b)     For purposes of the Plan, the fair market value of a
                share of Common Stock as of a given date shall be:

                        (i)     if the Common Stock is listed on one or more
                        National Securities Exchanges (within the meaning of the
                        Exchange Act), each share of Common Stock shall be
                        valued at the average closing price of a share of such
                        class of Common Stock on the principal exchange on which
                        such shares are then trading, on the twenty trading days
                        immediately preceding such date;

                        (ii)    if the Common Stock is not traded on a National
                        Securities Exchange but is quoted on NASDAQ or a
                        successor quotation system and the Common Stock is
                        listed as a National Market Issue under the NASD
                        National Market System, each share of Common Stock shall
                        be valued at the average of the last sales price on each
                        of the twenty trading days immediately preceding such
                        date as reported by NASDAQ or such successor quotation
                        system; or

                        (iii)   if the class of Common Stock is not publicly
                        traded on a National Securities Exchange and is not
                        quoted on NASDAQ or a successor quotation system, the
                        fair market value of the Common Stock shall be
                        determined in good faith by the Committee.

        SECTION 4.4     EXPIRATION OF OPTIONS

        No Option may be exercised to any extent by anyone after the first to
occur of the following events:

                (a)     The expiration of ten years from the date the Option was
                granted; or

                (b)     With respect to an Incentive Stock Option in the case of
                an Optionee owning (within the meaning of Section 424(d) of the
                Code), at the time the Incentive Stock Option was granted, more
                than 10% of the total combined voting power of all classes of
                stock of the Company or any subsidiary corporation, the
                expiration of five years from the date the Incentive Stock
                Option was granted.

                                        8
<Page>

                                   ARTICLE V.
                               EXERCISE OF OPTIONS

        SECTION 5.1     PERSON ELIGIBLE TO EXERCISE

        During the lifetime of the Optionee, only he or she may exercise an
Option (or any portion thereof granted to him or her; provided, however, that
the Optionee's Eligible Representative may exercise his or her Option during the
period of the Optionee's disability (as defined in Section 22(e)(3) of the Code)
notwithstanding that an Option so exercised may not qualify as an Incentive
Stock Option. After the death of the Optionee, any exercisable portion of an
Option may, prior to the time when such portion becomes unexercisable under the
Plan or the applicable Stock Option Agreement, be exercised by his or her
Eligible Representative.

        SECTION 5.2     PARTIAL EXERCISE

        At any time and from time to time prior to the time when the Option
becomes unexercisable under the Plan or the applicable Stock Option Agreement,
the exercisable portion of an Option may be exercised in whole or in part;
provided, however, that the Company shall not be required to issue fractional
shares and the Committee (or the Board, in the case of Options granted to
Independent Directors) may, by the terms of the Option, require any partial
exercise to exceed a specified minimum number of shares.

        SECTION 5.3     MANNER OF EXERCISE

        An exercisable Option, or any exercisable portion thereof, may be
exercised solely by delivery to the Secretary of all of the following prior to
the time when such Option or such portion becomes unexercisable under the Plan
or the applicable Stock Option Agreement:

                (a)     Notice in writing signed by the Optionee or his or her
                Eligible Representative, stating that such Option or portion is
                exercised, and specifically stating the number of shares with
                respect to which the Option is being exercised;

                (b)     A copy of the Stockholders Agreement signed by the
                Optionee or Eligible Representative, as applicable;

                (c)     Full payment (in cash or by personal, certified, or bank
                cashier check) for the shares with respect to which such Option
                or portion is thereby exercised; or

                        (i)     With the consent of the Committee (or the Board,
                        in the case of Options to Independent Directors), (A)
                        shares of Common Stock owned by the Optionee duly
                        endorsed for transfer to the Company; or (B) except with
                        respect to Incentive Stock Options, shares of the Common
                        Stock issuable to the Optionee upon exercise of the
                        Option, with a fair market value (as determined under
                        Section 4.3(b)) on the date of Option exercise equal to
                        the aggregate Option price of the shares with respect to
                        which such Option or portion is thereby exercised; or

                        (ii)    With the consent of the Committee (or the Board,
                        in the case of Options granted to Independent
                        Directors), any combination of the consideration listed
                        in this subsection (c);

                                        9
<Page>

                (d)     The payment to the Company (in cash or by personal,
                certified or bank cashier or by any other means of payment
                approved by the Committee) of all amounts necessary to satisfy
                any and all federal, state and local tax withholding
                requirements arising in connection with the exercise of the
                Option;

                (e)     Such representations and documents as the Committee (or
                the Board, in the case of Options granted to Independent
                Directors) deems necessary or advisable to effect compliance
                with all applicable provisions of the Securities Act and any
                other federal or state securities laws or regulations. The
                Committee (or the Board, in the case of Options granted to
                Independent Directors) may, in its sole discretion, also take
                whatever additional actions it deems appropriate to effect such
                compliance including, without limitation, placing legends on
                share certificates and issuing stop-transfer orders to transfer
                agents and registrars; and

                (f)     In the event that the Option or portion thereof shall be
                exercised pursuant to Section 5.1 by any person or persons other
                than the Optionee, appropriate proof of the right of such person
                or persons to exercise the Option or portion thereof.

        SECTION 5.4     CONDITIONS TO ISSUANCE OF STOCK CERTIFICATES

        The shares of stock issuable and deliverable upon the exercise of an
Option, or any portion thereof, may be either previously authorized but unissued
shares or issued shares which have then been reacquired by the Company. A
certificate of shares will be delivered to the Optionee at the Company's
principal place of business within thirty days of receipt by the Company of the
written notice and payment, unless an earlier date is agreed upon.
Notwithstanding the above, the Company shall not be required to issue or deliver
any certificate or certificates for shares of stock purchased upon the exercise
of any Option or portion thereof prior to fulfillment of all of the following
conditions:

                (a)     The admission of such shares to listing on any and all
                stock exchanges on which such class of stock is then listed;

                (b)     The completion of any registration or other
                qualification of such shares under any state or federal law or
                under the rulings or regulations of the Securities and Exchange
                Commission or any other governmental regulatory body, which the
                Committee (or the Board, in the case of Options granted to
                Independent Directors) shall, in its sole discretion, deem
                necessary or advisable;

                (c)     The obtaining of any approval or other clearance from
                any state or federal governmental agency which the Committee (or
                the Board, in the case of Options granted to Independent
                Directors) shall, in its sole discretion, determine to be
                necessary or advisable; and

                (d)     The payment to the Company of all amounts which it is
                required to withhold under federal, state or local law in
                connection with the exercise of the Option.

                                       10
<Page>

        SECTION 5.5     RIGHTS AS STOCKHOLDERS

        The holder of an Option shall not be, nor have any of the rights or
privileges of, a stockholder of the Company in respect of any shares purchasable
upon the exercise of any part of an Option unless and until such holder has
signed a Stockholders Agreement and certificates representing such shares have
been issued by the Company to such holder.

        SECTION 5.6     TRANSFER RESTRICTIONS

        Shares acquired upon exercise of an Option shall be subject to the
terms and conditions of a Stockholders Agreement. In addition, the Committee (or
the Board, in the case of Options granted to Independent Directors), in its sole
discretion, may impose further restrictions on the transferability of the shares
purchasable upon the exercise of an Option as it deems appropriate. Any such
restriction shall be set forth in the respective Stock Option Agreement and may
be referred to on the certificates evidencing such shares. The Committee may
require the Employee to give the Company prompt notice of any disposition of
shares of stock, acquired by exercise of an Incentive Stock Option, within two
years from the date of granting such Option or one year after the transfer of
such shares to such Employee. The Committee may direct that the certificates
evidencing shares acquired by exercise of an Incentive Stock Option refer to
such requirement.

                                   ARTICLE VI.
                                 ADMINISTRATION

        SECTION 6.1     COMMITTEE

        The Committee shall be the Compensation Committee of the Board. Any
action required or permitted to be taken by the Committee hereunder or under any
Stock Option Agreement may be taken by the Board.

        SECTION 6.2     DELEGATION BY COMMITTEE

        Except as otherwise determined by the Committee, all rights, powers and
duties of the Committee under the Plan (except those granted pursuant to
Sections 3.3, 4.3, 5.3(c), 5.3(e), 5.6 and Article VII) shall be exercised by
the CEO, subject to the approval of the Committee.

        SECTION 6.3     DUTIES AND POWERS OF CEO AND THE COMMITTEE

        It shall be the duty of the CEO, subject to the approval of the
Committee, to conduct the general administration of the Plan in accordance with
its provisions. The CEO, subject to the approval of the Committee, shall have
the power to interpret the Plan and the Options and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent
therewith and to interpret, amend or revoke any such rules. Notwithstanding the
foregoing, the full Board, acting by a majority of its members in office, shall
conduct the general administration of the Plan with respect to Options granted
to Independent Directors. Any such interpretations and rules in regard to
Incentive Stock Options shall be consistent with the terms and conditions
applicable to "incentive stock options" within the meaning of Section 422 of the
Code. All determinations and decisions made by the CEO and approved by the
Committee under any provision of the Plan or of any Option granted thereunder
shall be final, conclusive and binding on all persons.

                                       11
<Page>

        SECTION 6.4     COMPENSATION, PROFESSIONAL ASSISTANCE, GOOD FAITH
                        ACTIONS

        The members of the Committee shall receive such compensation for their
services hereunder as may be determined by the Board. All expenses and
liabilities incurred by the members of the Committee or the Board in connection
with the administration of the Plan shall be borne by the Company. The Committee
or the Board may employ attorneys, consultants, accountants, appraisers, brokers
or other persons. The Committee, the Company and its Officers and Directors
shall be entitled to rely upon the advice, opinions or valuations of any such
persons. All actions taken and all interpretations and determinations made by
the CEO, the Committee and the Board, in good faith shall be final and binding
upon all Optionees, the Company and all other interested persons. No member of
the Board or the CEO shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan or the Options, and
all members of the Board shall be fully protected by the Company in respect to
any such action, determination or interpretation.

                                  ARTICLE VII.
                                OTHER PROVISIONS

        SECTION 7.1     CHANGES IN COMMON STOCK; DISPOSITION OF ASSETS AND
                        CORPORATE EVENTS.

                (a)     Subject to Section 7.1(d), in the event that the
                Committee (or the Board, in the case of Options granted to
                Independent Directors) determines that any dividend or other
                distribution (whether in the form of cash, Common Stock, other
                securities, or other property), recapitalization,
                reclassification, stock split, reverse stock split,
                reorganization, merger, consolidation, split-up, spin-off,
                combination, repurchase, liquidation, dissolution, or sale,
                transfer, exchange or other disposition of all or substantially
                all of the assets of the Company (including, but not limited to,
                a Liquidity Event), or exchange of Common Stock or other
                securities of the Company, issuance of warrants or other rights
                to purchase Common Stock or other securities of the Company, or
                other similar corporate transaction or event, in the Committee's
                sole discretion (or in the case of Options granted to
                Independent Directors, the Board's sole discretion), affects the
                Common Stock such that an adjustment is determined by the
                Committee (or the Board, in the case of Options granted to
                Independent Directors) to be appropriate in order to prevent
                dilution or enlargement of the benefits or potential benefits
                intended to be made available under the Plan or with respect to
                an Option, then the Committee (or the Board, in the case of
                Options granted to Independent Directors) shall, in such manner
                as it may deem equitable, adjust any or all of:

                        (i)     The number and kind of shares of Common Stock
                        (or other securities or property) with respect to which
                        Options may be granted under the Plan (including, but
                        not limited to, adjustments of the limitations in
                        Section 2.1 on the maximum number and kind of shares
                        which may be issued);

                        (ii)    The number and kind of shares of Common Stock
                        (or other securities or property) subject to outstanding
                        Options;

                                       12
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                        (iii)   The exercise price with respect to any Option;
                        and

                        (iv)    The financial or other "targets" specified in
                        each Stock Option Agreement for determining the
                        exercisability of Options.

                (b)     Subject to Section 7.1(d) and the terms of outstanding
                Options, upon the occurrence of a Corporate Event, the Committee
                (or the Board, in the case of options granted to Independent
                Directors), in its sole discretion, is hereby authorized to take
                any one or more of the following actions whenever the Committee
                (or the Board, in the case of Options granted to Independent
                Directors) determines that such action is appropriate in order
                to prevent dilution or enlargement of the benefits or potential
                benefits intended to be made available under the Plan or with
                respect to any Option under this Plan, to facilitate such
                Corporate Event or to give effect to such changes in laws,
                regulations or principles:

                        (i)     In its sole discretion, and on such terms and
                        conditions as it deems appropriate, the Committee (or
                        the Board, in the case of Options granted to Independent
                        Directors) may provide, either by the terms of the
                        applicable Stock Option Agreement or by action taken
                        prior to the occurrence of such Corporate Event and
                        either automatically or upon the Optionee's request, for
                        either the purchase of any such Option for an amount of
                        cash, securities, or other property equal to the amount
                        that could have been attained upon the exercise of the
                        vested portion of such Option (and such additional
                        portion of the Option as the Board or Committee may
                        determine) immediately prior to the occurrence of such
                        transaction or event, or the replacement of such vested
                        (and other) portion of such Option with other rights or
                        property selected by the Committee (or the Board, in the
                        case of Options granted to Independent Directors) in its
                        sole discretion;

                        (ii)    In its sole discretion, the Committee (or the
                        Board, in the case of Options granted to Independent
                        Directors) may provide, either by the terms of the
                        applicable Stock Option Agreement or by action taken
                        prior to the occurrence of such Corporate Event, that
                        the Option (or any portion thereof) cannot be exercised
                        after such event;

                        (iii)   In its sole discretion, and on such terms and
                        conditions as it deems appropriate, the Committee (or
                        the Board, in the case of Options granted to Independent
                        Directors) may provide, either by the terms of the
                        applicable Stock Option Agreement or by action taken
                        prior to the occurrence of such Corporate Event, that
                        for a specified period of time prior to such Corporate
                        Event, such Option shall be exercisable as to all shares
                        covered thereby or a specified portion of such shares,
                        notwithstanding anything to the contrary in (A) Section
                        4.2; or (B) the provisions of the applicable Stock
                        Option Agreement;

                                       13
<Page>

                        (iv)    In its sole discretion, and on such terms and
                        conditions as it deems appropriate, the Committee (or
                        the Board, in the case of Options granted to Independent
                        Directors) may provide, either by the terms of the
                        applicable Stock Option Agreement or by action taken
                        prior to the occurrence of such Corporate Event, that
                        upon such event, such Option (or any portion thereof) be
                        assumed by the successor or survivor corporation, or a
                        parent or subsidiary thereof, or shall be substituted
                        for by similar options, rights or awards covering the
                        stock of the successor or survivor corporation, or a
                        parent or subsidiary thereof, with appropriate
                        adjustments as to the number and kind of shares and
                        prices; and

                        (v)     In its sole discretion, and on such terms and
                        conditions as it deems appropriate, the Committee (or
                        the Board, in the case of Options granted to Independent
                        Directors) may make adjustments in the number and type
                        of shares of Common Stock (or other securities or
                        property) subject to outstanding Options (or any portion
                        thereof) and/or in the terms and conditions of
                        (including the exercise price), and the criteria
                        included in, outstanding Options and Options which may
                        be granted in the future.

                (c)     Subject to Section 7.1(d), the Committee (or the Board,
                in the case of Options granted to Independent Directors) may, in
                its sole discretion, include such further provisions and
                limitations in any Stock Option Agreement as it may deem
                equitable and in the best interests of the Company and its
                Subsidiaries.

                (d)     With respect to Incentive Stock Options, no adjustment
                or action described in this Section 7.1 or in any other
                provision of the Plan shall be authorized to the extent that
                such adjustment or action would cause the Plan to violate
                Section 422(b)(1) of the Code or any successor provisions
                thereto, unless the Committee determines that the Plan and/or
                the Options are not to comply with Section 422(b)(1) of the
                Code. The number of shares of Common Stock subject to any Option
                shall always be rounded up to the next higher whole number.

        SECTION 7.2     OPTIONS NOT TRANSFERABLE

        No Option or interest or right therein or part thereof shall be liable
for the debts, contracts or engagements of the Optionee or his or her successors
in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, encumbrance, assignment or any other means whether such
disposition be voluntary or involuntary or by operation of law, by judgment,
levy, attachment, garnishment or any other legal or equitable proceedings
(including bankruptcy), and any attempted disposition thereof shall be null and
void and of no effect; provided, however, that nothing in this Section 7.2 shall
prevent transfers by will or by the applicable laws of descent and distribution.

        SECTION 7.3     AMENDMENT, SUSPENSION OR TERMINATION OF THE PLAN

        The Plan may be wholly or partially amended or otherwise modified,
suspended or terminated at any time or from time to time by the Board or the
Committee. However, without

                                       14
<Page>

stockholder approval within 12 months before or after such action no action of
the Board or the Committee may, except as provided in Section 7.1, increase any
limit imposed in Section 2.1 on the maximum number of shares which may be issued
on exercise of Options, reduce the minimum Option price requirements of Section
4.3(a), or extend the limit imposed in this Section 7.3 on the period during
which options may be granted. Except as provided by Section 7.1, neither the
amendment, suspension nor termination of the Plan shall, without the consent of
the holder of the Option, alter or impair any rights or obligations under any
Option theretofore granted. No Option may be granted during any period of
suspension nor after termination of the Plan, and in no event may any Option be
granted under this Plan after the expiration of ten years from the date the Plan
is adopted by the Board.

        SECTION 7.4     EFFECT OF PLAN UPON OTHER OPTION AND COMPENSATION PLANS

        The adoption of this Plan shall not affect any other compensation or
incentive plans in effect for the Company or any Subsidiary. Nothing in this
Plan shall be construed to limit the right of the Company or any Subsidiary (a)
to establish any other forms of incentives or compensation for directors,
consultants or employees of the Company (or any Subsidiary); or (b) to grant or
assume options otherwise than under this Plan in connection with any proper
corporate purpose, including, but not by way of limitation, the grant or
assumption of options in connection with the acquisition by purchase, lease,
merger, consolidation or otherwise, of the business, stock or assets of any
corporation, firm or association.

        SECTION 7.5     APPROVAL OF PLAN BY STOCKHOLDERS

        This Plan will be submitted for the approval of the Company's
stockholders within 12 months after the date of the Board's initial adoption of
this Plan and the Plan and the Options granted hereunder will be effective upon
approval by such stockholders as contemplated by Section 280G(b)(5)(A)(ii) of
the Code and regulations thereunder as if a "change in control" occurred
immediately following such approval. No Option may be exercised to any extent by
anyone unless and until the Plan is so approved by the stockholders, and if such
approval has not been obtained by the end of said 12-month period, the Plan and
all Options theretofore granted shall thereupon be canceled and become null and
void.

        SECTION 7.6     TITLES

        Titles are provided herein for convenience only and are not to serve as
a basis for interpretation or construction of the Plan.

        SECTION 7.7     CONFORMITY TO SECURITIES LAWS

        The Plan is intended to conform to the extent necessary with all
provisions of the Securities Act and the Exchange Act and any and all
regulations and rules promulgated by the Securities and Exchange Commission
thereunder to the extent the Company or any Optionee is subject to the
provisions thereof. Notwithstanding anything herein to the contrary, the Plan
shall be administered, and Options shall be granted and may be exercised, only
in such a manner as to conform to such laws, rules and regulations. To the
extent permitted by applicable law, the Plan and Options granted hereunder shall
be deemed amended to the extent necessary to conform to such laws, rules and
regulations.

                                       15
<Page>

        SECTION 7.8     GOVERNING LAW

        To the extent not preempted by federal law, the Plan shall be construed
in accordance with and governed by the laws of the state of Delaware.

        SECTION 7.9     SEVERABILITY

        In the event any portion of the Plan or any action taken pursuant
thereto shall be held illegal or invalid for any reason, the illegality or
invalidity shall not affect the remaining parts of the Plan, and the Plan shall
be construed and enforced as if the illegal or invalid provisions had not been
included, and the illegal or invalid action shall be null and void.

                                       16
<Page>

        I hereby certify that the foregoing Plan was duly adopted by the
Committee on November 25, 2002 pursuant to delegation from the Board of
Directors of RBS Global, Inc. on November 25, 2002.

        Executed on this 25 day of November, 2002.

                                                              /s/
                                            ------------------------------------
                                            Name:       Praveen R. Jeyarajah
                                                  ------------------------------
                                            Secretary

                                       17

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