Amendment to SPX Corporation Supplemental Retirement Plan for Top Management (Kevin Lilly)
SPX Corporation has amended its Supplemental Retirement Plan for Top Management to add special provisions for Kevin Lilly. Effective January 1, 2006, Kevin Lilly will be treated as a participant in the plan from the date he became an officer. This amendment ensures his service and benefits are calculated as if he had participated in both the Supplemental and Qualified Plans from that date, affecting his eligibility and benefit amounts.
Exhibit 10.1
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. The Plan is amended by adding the new Appendix J attached hereto to the end thereof.
Appendix J
Special Provisions for Kevin Lilly
Kevin Lilly will be treated (i) as though he were a participant in this Plan beginning on January 1, 2006, the date he was named an officer of SPX Corporation (i.e., Continuous Service shall commence as of such date) for purposes of determining the amount of benefits payable to him under this Plan and (ii) as though he were a participant in the SPX Qualified Plan for purposes of determining the eligibility for benefits and the amount of benefits under the Plan.
