Amendment to SPX Corporation Supplemental Retirement Plan for Top Management

Contract Categories: Human Resources › Retirement Agreements
Summary

SPX Corporation has amended its Supplemental Retirement Plan for Top Management. Effective June 23, 2004, the amendment changes how the plan can be modified or terminated. Now, any amendment or termination must be made by a resolution of the Compensation Committee and will take effect on the date of the resolution or as specified in it. This change clarifies the process and authority for making future changes to the retirement plan for top management employees.

Read More Arrow
EX-10.3 5 dex103.htm AMENDMENT TO THE SPX CORPORATION SUPPLEMENTAL RETIREMENT PLAN FOR TOP MANAGEMENT Amendment to the SPX Corporation Supplemental Retirement Plan for Top Management

Exhibit 10.3

 

AMENDMENT TO THE

SPX CORPORATION SUPPLEMENTAL RETIREMENT PLAN

FOR TOP MANAGEMENT

 

Pursuant to the powers of amendment reserved in Section 6.1 of the SPX Corporation Supplemental Retirement Plan for Top Management (the “Plan”), SPX Corporation hereby amends the Plan in the following manner:

 

1. Effective as of June 23, 2004, the second sentence of Section 6.1 is deleted and replaced with the following new sentence:

 

“Any such amendment or termination shall be made pursuant to a resolution of the Compensation Committee and shall be effective as of the date of such resolution or as specified therein.”