Exhibit 10.17
 | Lawrence D. Kingsley Chairman and Chief Executive Officer |
IDEX Corporation
1925 West Field Court
Suite 200
Lake Forest, Illinois 60045-4824
United States
www.idexcorp.com
September 30, 2010
Daniel Salliotte
IDEX Corporation
1925 W. Field Court
Lake Forest, IL 60045
Dear Dan:
As part of our ongoing review of our executive compensation programs, IDEX Corporation seeks to ensure that executives are provided market competitive protection benefits.
Based upon the results of that review, and while we fully expect that IDEX will continue to grow and prosper as an independent publicly-traded company, we are offering the following levels of benefit based upon your role as Vice President, Business Development for IDEX Corporation in the case of unforeseen circumstances.
| • | In the event of a “Change in Control,” as defined in the Amended and Restated IDEX Corporation Supplemental Executive Retirement Plan, that results in your termination from service within twenty-four (24) months of the Change in Control, the Company shall be obligated to pay your base salary at the rate then in effect and your then current target annual bonus (MICP or equivalent plan) for twenty-four (24) months following the date of termination (for a total payment of two (2) times both annual base salary and target annual bonus) in a lump sum in exchange for a signed release within 50 days of your termination. This payment shall not be applicable in the event of your voluntary termination. |
| • | If, in the future, your employment with IDEX Corporation is terminated without cause (“cause” defined as willful misconduct or fraudulent behavior), IDEX will pay you twelve (12) months’ base salary at the then current monthly base rate plus your targeted annual incentive bonus (MICP or equivalent plan) in a lump sum in exchange for a signed release within 50 days of your termination. Such benefit will not be applicable in the event of your voluntary termination. |
| • | All other provisions of your current IDEX compensation and benefits programs remain the same. |
Dan, we appreciate your contributions to IDEX and wish you continuing success.
Sincerely,
/s/ Lawrence D.Kingsley |
Lawrence D.Kingsley Chairman and Chief Executive Officer IDEX Corporation |
/s/ Daniel Salliotte | 10/4/10 | |
| Acceptance of Provisions | Date | |
| Daniel Salliotte |