THIS EMPLOYMENT AGREEMENT is entered into this 26th day of September, 1995 between FRANKLIN
ELECTRIC CO., INC., ("Franklin") an Indiana corporation, and Jess Ford (the "Executive").
WHEREAS, Executive is employed as Chief Financial Officer and Secretary of Franklin; Franklin desires to
assure the benefit of Executive's future services; and Executive is willing to commit to render such services, upon
the terms and conditions set forth below; NOW THEREFORE, in consideration of the premises and mutual
covenants and agreements herein contained, the parties hereto hereby agree as follows:
1. EMPLOYMENT. Franklin agrees to employ Executive in an executive capacity, and Executive agrees to
serve Franklin in such capacity, upon the terms and conditions hereinafter set forth until his employment is
terminated in accordance with Paragraph 2 hereof.
2. TERMINATION. Either Executive or Franklin may terminate Executive's employment with Franklin at any
time upon at least 90-days' advance written notice, except that a termination for Good Cause may become
effective immediately upon notice.
3. COMPENSATION. Franklin shall pay or provide Executive with the following, and Executive shall accept the
same, as compensation for the performance of his undertakings and the services to be rendered by him under this
(a) A fixed salary of $160,000 per annum, or such higher amount as the Board of Directors of Franklin may from
time to time authorize (which amount shall not be reduced without Executive's written consent), payable in equal
(b) Such bonus as may be allocated to Executive by the Compensation Committee of Franklin's Board of
Directors pursuant to the Franklin Officer Bonus Plan, but not less than $10,000 for the 1995 and $50,000 for
the 1996 fiscal years ending December 30, 1995 and December 31, 1996, respectively.
(c) Participation in Franklin's Stock Option Plans, as long as such plans remain in effect, and in any future
compensation plans co