Document:

Exhibit 10-15

EXHIBIT
10.15

CONFIDENTIALITY
AND NON-COMPETE AGREEMENT

In
consideration of my employment with Franklin Electric Co., Inc. (“Employer”) and
other good and valuable consideration, the receipt and sufficiency of which
consideration are hereby acknowledged, I agree on this ____ day of ____, in the
year _______ as follows:

 

CONFIDENTIALITY

 

	
      1.
	
      I
      acknowledge that Employer has certain non-public confidential information,
      including (a) technical information, such as drawings, specifications,
      design tolerances, manufacturing methods and processes, as well as
      research and development efforts, results and plans, and (b) client
      information, such as client contact information, contract terms, client
      listings, files, purchase history, needs and preferences; (c) financial
      information, such as sales plans and forecasts, sales and earnings
      figures, profitability information, and pricing; (d) corporate strategies,
      new product, marketing and other strategic plans; and (e) personnel files
      and information (“Confidential Information”). I understand that my
      employment with Employer places me in a position of trust and confidence,
      and in the course of my employment with Employer and because of the nature
      of my responsibilities, I have received and will receive access to
      Employer’s Confidential Information, which I recognize and agree is highly
      sensitive and valuable, and is the exclusive property of
      Employer.

 

	
      2.
	
      During
      my employment with Employer and thereafter, I will maintain all
      Confidential Information that comes into my possession as confidential and
      as the exclusive property of Employer, and such Confidential Information
      shall not be disclosed by me nor used by me in any way, except as required
      by my duties to, and for the benefit of, Employer. I will not remove any
      Confidential Information from Employer’s premises except as my duties
      shall require and as authorized by Employer.

 

	
      3.
	
      Upon
      any termination of my employment, I will immediately turn over all of the
      following to my supervisor, and I shall retain no copies thereof: all
      documents and files (whether paper, digital, electronic or otherwise) that
      were supplied to me by Employer, or that were obtained or created by me
      pursuant to my duties for Employer, including all drawings, designs,
      specifications, manuals, keys, computer equipment and software, computer
      printouts and databases, and any other materials supplied to me by
      Employer or purchased with Employer’s funds, and all copies (whether
      copied onto paper, electronic, digital, tape, or other media)
      thereof.

 

COVENANT
NOT TO COMPETE, NOT TO HIRE EMPLOYEES, AND OTHER
COVENANTS

 

	
      4.
	
      A.
      Activity Covenant: For a period of eighteen (18) months after I cease to
      be employed by Employer for any reason, I will not directly or indirectly
      engage in, or assist any other person or entity to engage in, any
      Restricted Activity. “Restricted Activity” as used herein means: (i) the
      design, development, manufacture, assembly, or distribution of electrical
      submersible motors, electrical submersible motor controls and submersible
      pumps that are sold, or are offered or intended for sale, within or to the
      United States or the European Union in competition with those designed,
      developed, manufactured, assembled, distributed or sold by Employer and
      the (ii) solicitation, encouragement, or inducement (or assisting anyone
      else to solicit, encourage, or induce) any agent, vendor, supplier or
      independent contractor to terminate, reduce or curtail their business or
      relationship with Employer. 

 

	
      
	
      B.
      Customer-Based Restriction: For a period of eighteen (18) months after I
      cease for any reason to be an employee of Employer, I will not, directly
      or indirectly, solicit (or assist in the solicitation of) orders for
      Competitive Products from, or provide any Competitive Product to, any
      Customer or Potential Customer of Employer. “Customer” means only those
      customers with whom Employer actually did business during the last year of
      my employment, and “Potential Customer” shall mean any person or entity to
      which Employer provided a proposal or bid during the last year of my
      employment.

 

- 50
-

	
      
	
      C.
      Non-Compete Covenant: For a period of eighteen (18) months after I cease
      to be employed by employer for any reason, I will not directly or
      indirectly, within the United States or the European Union, become
      employed by, work for, or otherwise provide services to, any Competitor in
      any capacity that relates to the design, development, manufacture,
      assembly, distribution or sale of Competitive Products. “Competitive
      Products” means electrical submersible motors, electrical submersible
      motor controls and submersible pumps. “Competitor” means any person or
      entity that designs, develops, manufactures, assembles, distributes or
      sells electrical submersible motors, electrical submersible motor controls
      and/or submersible pumps in competition with Employer. 

 

	
      
	
      D.
      Non-Hire Agreement: For a period of eighteen (18) months after I cease for
      any reason to be an employee of Employer, I will not, directly or
      indirectly, (a) hire, interview for employment, offer employment to, or
      employ any Restricted Employee, or assist anyone else to do so, or (b)
      solicit, advise, encourage or induce (or assist in the solicitation,
      advising, encouragement or inducement of) any Restricted Employee to
      terminate his or her employment with Employer or suggest that s/he do so.
      “Restricted Employee” means any person who was employed by Employer within
      the last three (3) months of my employment with Employer, and with whom I
      had contact or for whom I had direct or indirect supervisory
      responsibility during my employment with Employer.

 

	
      
	
      E.
      Other covenants: At the time of giving my notice, I will also inform
      Employer of the name of my new Employer. I recognize that the business of
      Employer is global, with most of its sales and business activities being
      concentrated in the United States and the European Union, and I recognize
      that my duties for Employer relate to its business in (and its
      Confidential Information relating to) both of those areas. The foregoing
      restrictions will not unduly hamper my ability to make a living in my
      field, and these restrictions are a fair and reasonable way to protect
      Employer and its legitimate business interests.

 

OTHER
AGREEMENTS

 

	
      5.
	
      In
      addition to any damages awarded by any court and all other remedies
      otherwise available at law or in equity, Employer shall be entitled to
      injunctions, both preliminary and final, enjoining and restraining any
      breach or threatened or intended breach of paragraphs 2, 3 and 4, and I
      hereby consent to the issuance thereof without Employer being required to
      post any bond. In the event that Employer shall successfully
      enforce any part of this Agreement through legal proceedings, I agree to
      pay to Employer all costs and attorneys’ fees reasonably incurred by it in
      that endeavor. In the event that I am found to have breached any covenant
      in this agreement, the time period provided for in that covenant shall be
      deemed tolled (i.e., it will not run) for so long as I am in violation of
      that covenant.

 

	
      6.
	
      I
      understand and agree that this Agreement is not a guarantee of continued
      employment for any period. My employment is at will. This means I am free
      to terminate my employment at any time, for any reason, and that Employer
      retains the same rights. 

 

	
      7.
	
      This
      Agreement shall be construed and applied under Indiana law. If any one or
      more of the provisions contained in this Agreement shall, for any reason,
      be held to be invalid or unenforceable in any respect, this Agreement
      shall be construed as if such provision had never been contained herein,
      and the remainder of this Agreement shall be enforceable and binding upon
      the parties. If any one or more of the provisions contained in this
      Agreement shall for any reason be held to be excessively broad (for
      example as to temporal scope), it shall be construed and limited so as to
      be compatible with the applicable law as it then shall
    appear.

 

	
      EMPLOYEE:
	
      EMPLOYER:

	 	 
	
       
	
      by

	 	 
	
      [printed
      name]
	
      its
      

	 	 
	
      date:
	
      date:

	 	 

- 51
-Exhibit 10-16

EXHIBIT
10.16

CONSULTING
AGREEMENT

This
Consulting Agreement will become effective the 1st day of
January 2006 or such earlier date as determined by either party upon providing
30 days written notice, by Franklin Electric Co., Inc. (“Franklin”) and
Jess Ford (“Consultant”). By
executing this agreement both parties agree to waive the 90-day notice
requirement under Section 2 of Mr. Ford’s employment agreement. Under no
circumstances would this Consulting Agreement and Mr. Ford’s Employment
Agreement be effective at the same time.

	1.  	
      Services.
      Consultant agrees to provide up to 500 hours of consulting services per
      annum, as requested by the Chief Executive Officer of Franklin, respecting
      the general operations of Franklin both domestic and international.
      Services will be scheduled on a mutually acceptable basis. Consultant
      shall exercise a reasonable degree of skill and care in performing the
      consulting services under this Agreement.

	2.  	
      Fees.
      In return for the services provided by Consultant, Franklin agrees to pay
      to Consultant $20,840.00 each month for a period of twelve months
      beginning with the effective date of this agreement. Further, Consultant
      will be eligible to receive an annual performance bonus. The performance
      bonus will be a percent of the annual retainer calculated using the
      Franklin Executive Officer Performance Bonus Plan formula. The Consultant
      will receive a pro-rata share of the bonus based upon the amount of
      services provided during the term of this agreement. The amount of the
      services provided for calculating the bonus will be determined by the
      Chief Executive Officer and the Consultant on a mutually acceptable basis.
      During the term of this agreement stock option grants previously awarded
      will continue to vest in accordance with the option agreement
      document.

	3.  	
      Relationship
      of Parties.
      Consultant is an independent contractor and not an agent or
    

employee
of Franklin. Franklin shall have no right to control Consultant’s methods or
means for providing the services designated in this Agreement.

	4.  	
      Insurance,
      Fringe Benefits and Taxes.
      Consultant, during the term of this agreement, will be covered by
      Franklin’s medical and life insurance provided employees. This agreement
      in no way nullifies or changes the insurance and fringe benefits the
      consultant may have earned with Franklin for his employment years.
      

	5.  	
      Expenses.
      Consultant may incur expenses in connection with providing the services.
      Consultant shall be responsible for paying all such expenses except that
      Franklin agrees to reimburse Consultant for the following expenses: Travel
      and related business expenses.

	6.  	
      Confidentiality.
      All information provided to Consultant by Franklin or obtained by
      Consultant from Franklin shall be held in confidence and shall not be
      disclosed by Consultant to any third party. Consultant shall not use any
      of the confidential information for any purpose other than to provide the
      consulting services to Franklin. All confidential information, including
      all copies or other reproductions made by Consultant, shall be deemed the
      property of Franklin and shall be returned to
Franklin.

- 52
-

	7.  	
      Inventions
      and Information.
      All inventions and information developed in connection with consultant’s
      services shall be the property of Franklin. Consultant shall execute any
      documents (including patent applications or the assignments thereof)
      necessary to vest in Franklin the full title and interest in all
      information, inventions and improvements
developed.

	8.  	
      Covenant
      Not to Compete.
      During the term of this Agreement and for one (1)

additional
year, Consultant shall not, by himself or in connection with any entity,
directly or indirectly, undertake, carry on, participate in or have any
financial interest in, or in any manner advise or assist any person or entity
in, any business involving the subject matter of the consulting services
provided hereunder.

	9.  	
      Termination.
      This Agreement expires twelve calendar months following the effective date
      but no later than December 31, 2006. 

	10.  	
      Miscellaneous.
      This Agreement constitutes the entire Agreement between the parties and it
      shall be governed by and enforced in accordance with the laws of the State
      of Indiana. Whenever possible, each provision of this Agreement shall be
      interpreted in such a manner as to be effective and valid, but if any
      provision of this Agreement shall be prohibited by or invalid under
      applicable law, such provision shall be ineffective only to the extent of
      such prohibition or invalidity without invalidating the remainder of such
      provision or the remaining provisions of the Agreement.

Franklin
shall defend Consultant against all claims and proceedings and shall hold them
harmless from all liabilities and losses arising from anything done or any
recommendations made under this contract.

IN
WITNESS WHEREOF, the parties have executed this Agreement on February 11,
2005.

	
      Franklin
      Electric., Inc.
	
      Consultant

	 	 
	
      By
      /s/ Gary Ward
	
      /s/
      Jess B. Ford

	
      (printed
      name and title)
	
      (signature)

	 	
       

	 	
      (printed
      name)
	
	 	
       

	 	
       

	 	
      (address)

	 	
       

	 	
      (social
      security number)

	
       
	
       

	
      Date
	
      Date

- 53
-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}]]