Form Waiver of Certain Employment Agreement Provisions by SPX Corporation Executives
This agreement is between SPX Corporation and certain executives, including Christopher J. Kearney, Jeremy W. Smeltser, Robert B. Foreman, David A. Kowalski, Kevin L. Lilly, and J. Michael Whitted. The executives agree to waive their rights to receive an automobile allowance and reimbursement for club dues and membership fees, effective for costs incurred after December 31, 2013, regardless of what is stated in their employment or other agreements with SPX. The waiver is formally accepted by SPX Corporation.
Exhibit 10.7
Form Waiver of Certain Employment Agreement Provisions by each of Christopher J. Kearney, Jeremy W. Smeltser, Robert B. Foreman, David A. Kowalski, Kevin L. Lilly, and J. Michael Whitted
December 2, 2013
Mr. [name]
[title]
SPX Corporation
13320 Ballantyne Corporate Place
Charlotte, NC 28277
RE: Waiver of Certain Perquisites
Dear [ ]:
This letter constitutes my waiver of the right to receive the following perquisites, effective for all costs incurred after December 31, 2013, notwithstanding any contrary language contained in my employment agreement, change of control agreement or any other agreement with SPX Corporation: (i) my automobile allowance and (ii) my reimbursement for club dues and membership fees.
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| Sincerely, |
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| [name] |
| Agreed and accepted on behalf of SPX Corporation: |
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| December 2, 2013 |
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