Exhibit 10.7
Amendment to Change of Control
Agreement
This shall constitute an amendment (the
“Amendment”) to the Change of Control agreement dated
November 20, 2008 (the “Agreement”) between J.
Michael Whitted (the “Executive”) and SPX Corporation
pursuant to Section 9 of the Agreement, and shall be effective
July 22, 2009.
WHEREAS, the parties wish to amend the Agreement
to reflect the Executive’s participation in the Supplemental
Retirement Plan for Top Management;
NOW, THEREFORE, the parties agree as
follows:
1.
Section 3(d)(iv) of the
Agreement shall be superseded and replaced in its entirety by the
following provision:
“(iv)
The failure by the Company to
continue in effect the Company’s Pension Plan, Retirement
Savings Plan, Supplemental Retirement Savings Plan, Supplemental
Retirement Plan for Top Management, Executive Bonus Plan, Stock
Compensation Plan, any plans substituted for the above adopted
prior to the Change of Control, or any other of the Company’s
employee benefit plans, policies, practices or arrangements in
which you participate, unless an equitable arrangement (embodied in
an ongoing substitute or alternative plan) to provide similar
benefits has been made with respect to such plan(s); or the failure
by the Company to continue your participation therein (or in such
substitute or alternative plan) on substantially the same basis,
both in terms of the amount of benefits provided and the level of
your participation relative to other participants, as existed as of
the time of
