1
Exhibit 10.3
March 15, 2000
PERSONAL AND CONFIDENTIAL
Xx. Xxxxx X. Xxxxxxxxx
00 Xxxx Xxxxxxx Xxxx
Xxxx Xxxxxx, Xxxxxxxx 00000
Dear Xxxxx:
Re: Severance Agreement
This letter serves as an amendment of the Severance Agreement between IDEX
Corporation and you dated December 3, 1999 which you accepted on December 21,
1999. Pursuant to this amendment, Item 9 of the enumerated Severance Benefits
is eliminated and replaced with the following:
9) All stock options previously granted to you will immediately vest and
you will have until the earlier of (i) ten (10) years from date of
grant of the option or (ii) thirty-six (36) months following the last
day of employment to exercise the options you hold.
All other terms of the Severance Agreement remain unchanged. Please
acknowledge your acceptance of this amendment by signing and returning the
enclosed copy of this letter.
Very truly yours,
/s/ Xxxxx X. Xxxxxx
FJH:mtm
Enclosure
Agreed to and accepted by:
/s/ Xxxxx X. Xxxxxxxxx
Date: March 31, 2000
