SEC Contract Filing

Filing Date: 2015-09-28

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>11
<FILENAME>a15-20291_1ex10d5.htm
<DESCRIPTION>EX-10.5
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;10.5</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SPX FLOW</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">STOCK COMPENSATION PLAN</font></b></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECTION&nbsp;1.&#160;&#160; ESTABLISHMENT, PURPOSES AND EFFECTIVE DATE OF PLAN</font></b></p>
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<p style="margin:0in 0in .0001pt 4.5pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Establishment.</i>&#160; SPX FLOW,&nbsp;Inc. (the &#147;<b>Company</b>&#148;)<i>, </i>a Delaware corporation, hereby establishes the SPX FLOW Stock Compensation Plan (the &#147;<b>Plan</b>&#148;) to provide for the award of Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, and Performance Units (&#147;<b>Awards</b>&#148;) to eligible individuals.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt 4.5pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Effective Date.</i>&#160; The Plan was approved by SPX Corporation (&#147;<b>SPX</b>&#148;), as the sole shareholder of the Company, and by the Board, on September 23, 2015.&#160; The Plan </font>shall be effective as of such approval date (the &#147;<b>Effective Date</b>&#148;).</p>
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<p style="margin:0in 0in .0001pt 4.5pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Distribution.&#160; </i>The Company has entered into a Separation and Distribution Agreement with SPX Corporation (the &#147;<b>Separation Agreement</b>&#148;), which provides for a &#147;<b>Distribution</b>&#148; (as defined in the Separation Agreement), by which SPX will separate into two separate, publicly traded companies, SPX and the Company. Until the Distribution, the Company is a wholly owned subsidiary of SPX.</font></p>
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<p style="margin:0in 0in .0001pt 4.5pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Purpose.</i></font></p>
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<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Generally.&#160; </i>The purpose of the Plan is to advance the interests of the Company and its Subsidiaries and divisions by (a)&nbsp;encouraging and providing for the acquisition of equity interests in the Company by Participants, thereby increasing the stake in the future growth and prosperity of the Company, and furthering the Participants&#146; identity of interest with those of the Company&#146;s shareholders, and (b)&nbsp;enabling the Company to compete with other organizations in attracting, retaining, promoting and rewarding the services of Participants.</font></p>
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<p style="margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Replacement Awards.</i>&#160; In addition to the general purposes described in Section&nbsp;1.4(a), this Plan is established to issue Awards in partial or full substitution for awards relating to common shares of SPX prior to the Distribution, in accordance with the terms of an Employee Matters Agreement (as defined hereafter).</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECTION&nbsp;2.&#160;&#160; DEFINITIONS</font></b></p>
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<p style="margin:0in 0in .0001pt 4.5pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <i>Definitions.</i>&#160; Whenever used herein, the following terms shall have their respective meanings set forth below:</font></p>
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