EMERSON ELECTRIC CO
<DOCUMENT>
<TYPE>EX-10.(Q)
<SEQUENCE>9
<FILENAME>v094142_ex10q.htm
<TEXT>
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    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right"><font size="2"><strong>Exhibit
      10(q)</strong></font></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><strong><font size="2">AMENDMENT
      TO THE</font></strong></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><strong><font size="2">EMERSON
      ELECTRIC CO. 2006 INCENTIVE SHARES PLAN</font></strong></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><strong><font size="2">SOLELY
      FOR CODE SECTION 409A COMPLIANCE</font></strong></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 6%; TEXT-ALIGN: left"><font size="2">WHEREAS,
      Emerson Electric Co. (&#8220;Company&#8221;) previously adopted the Emerson
      Electric Co. 2006 Incentive Shares Plan ( &#8220;Plan&#8221;); and</font></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 6%; TEXT-ALIGN: left"><font size="2">WHEREAS,
      effective January 1, 2005, the Company desires to amend the Plan
      solely for the purpose of complying with the requirements of Section 409A of
      the
      Internal Revenue Code of 1986, as amended (&#8220;Code&#8221;);</font></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 6%; TEXT-ALIGN: left"><font size="2">NOW
      THEREFORE, effective January 1, 2005, the Plan is amended with
      respect to all amounts deferred or which become vested under the Plan on or
      after January 1, 2005 as follows:</font></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 3.73%; TEXT-ALIGN: left">&#160;</div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse">

          <tr>
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              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&#160;</div>
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              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">1.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Any
                election to defer receipt of all or part of an award of
                Performance Shares must be made no later than the close of the Company&#8217;s
                taxable year immediately preceding the first taxable year of the
                Company
                in which any services are performed for which such Performance Share
                award
                is payable; however, a newly eligible participant may make an election
                within 30 days after the date he first becomes eligible to participate
                in
                the performance program, but only with respect to the portion of
                the
                Performance Shares award attributable to services performed after
                the date
                of his deferral election. Notwithstanding the foregoing, if the
                performance period is at least 12 consecutive months and the performance
                criteria are defined in writing no later than 90 days after the
                commencement of the period of service to which the criteria relates,
                a
                deferral election may be made on or before the date that is six months
                before the end of the performance period, provided (i) the Participant
                performs services continuously from the later of the beginning of
                the
                performance period or the date the performance criteria are established
                through the date a deferral election is made; and (ii) the award
                of
                Performance Shares has not become readily ascertainable. At the same
                time
                the Participant makes an election to defer receipt of a Performance
                Shares
                award, he shall also make an election to receive such Performance
                Shares
                in either a single distribution or in annual installments over such
                years
                as the Participant shall then
                specify.</font></div>
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      </table>
    </div>
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          <tr>
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            </td>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">2.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">In
                the event a Participant has elected to defer receipt of all or
                any portion of his award of Performance Shares under a Plan until
                a
                specified year, payment shall be made or commence on the first day
                of such
                calendar year.</font></div>
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          </tr>

      </table>
    </div>
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    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse">

          <tr>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&#160;</div>
            </td>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">3.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">In
                the event a Participant has elected to defer receipt of all or
                any portion of his award of Performance Shares under a Plan until
                his
                termination of employment, payment shall be made or commence on the
                first
                day of the month immediately following his termination date.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 3.73%; TEXT-ALIGN: left">&#160;</div>
    <div align="left">
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          <tr>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&#160;</div>
            </td>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">4.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">In
                the event that any deferred amount becomes payable due to the
                Participant&#8217;s termination of employment (other than on account of death)
                and such Participant is a Specified Employee, as determined under
                Code
                Section 409A and the regulations promulgated thereunder, payment
                of any
                deferred amount that is otherwise scheduled to be or to begin to
                be
                distributed shall be made or commence on the first day of the seventh
                month immediately following the Participant&#8217;s termination of employment if
                such date is later than the date such deferred amount would otherwise
                be
                paid or commence to be paid.</font></div>
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      </table>
    </div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
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        </div>
      </div>
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              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&#160;</div>
            </td>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">5.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">In
                the event of the death during the deferral period of a
                Participant who has made a deferral election, the unpaid balance
                of the
                deferred amount owing to such Participant at the time of death shall
                be
                distributed to the Participant&#8217;s estate on the first day of the month
                immediately following the date of the Participant&#8217;s death, irrespective of
                whether or not the deferral period elected has
                expired.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="BORDER-COLLAPSE: collapse">

          <tr>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&#160;</div>
            </td>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">6.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">In
                all cases in which a deferred amount is payable upon a fixed
                date, payment is deemed to be made upon the fixed date if the payment
                is
                made at such date or a later date within the same calendar year or,
                if
                later, by the 15<sup>th</sup> day of the third calendar month following
                the specified date. In addition, a payment is treated as made upon
                the
                date specified under the Plan if the payment is made no earlier than
                30
                days before the designated payment date. In no event shall the Participant
                be permitted, directly or indirectly, to designate the taxable year
                of the
                payment.</font></div>
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      </table>
    </div>
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          <tr>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&#160;</div>
            </td>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">7.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">In
                the event the Company elects to permit participants to change an
                election with respect to the time and/or manner of payment of a previously
                deferred award of Performance Shares, such change shall be filed
                with the
                Committee no later than December 31,
                2007.</font></div>
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      </table>
    </div>
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          <tr>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&#160;</div>
            </td>
            <td valign="top" width="3%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">8.</font></div>
            </td>
            <td valign="top">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">The
                Committee shall have no discretion with respect to the timing
                and/or manner of payment of any deferred
                amount.</font></div>
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      </table>
    </div>
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    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 6%; TEXT-ALIGN: left"><font size="2">Approved
      by the Compensation Committee of the Board of Directors on the
      6th day of August, 2007.</font></div>
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    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
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    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><img src="emersonlogo.jpg" alt=""></div>
    <div style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><strong><font style="FONT-FAMILY: ARIAL" size="3">INTRA-COMPANY
      CORRESPONDENCE</font></strong></div>
    <hr noshade size="1">
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial" size="2"><strong>TO:</strong></font></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial" size="2"><strong>FROM:</strong></font></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial" size="2"><strong>DATE:</strong></font></div>
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              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial" size="2"><strong>FILE:</strong></font></div>
            </td>
            <td nowrap valign="top" width="77%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial" size="2">______
                PERFORMANCE SHARES PROGRAM
                AWARD</font></div>
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              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial" size="2"><strong>SUBJECT:</strong></font></div>
            </td>
            <td nowrap valign="top" width="58%">
              <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font style="FONT-FAMILY: Arial" size="2">Acceptance
                of
                Award</font></div>
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    </div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 150%; TEXT-ALIGN: justify"><font style="FONT-FAMILY: Arial" size="2">This
      is to advise that in consideration of the
      Compensation Committee's award of Performance Units in the ______ Performance
      Shares Program under the 2006 Incentive Shares Plan, (1) I accept such
      participation upon the terms contained in the Award Certificate and the attached
      Plan document, and (2) I agree that during my employment by Emerson or any
      of
      its divisions, subsidiaries or affiliates (collectively, "Emerson"), and for
      a
      period of two (2) years after termination of such employment for any reason,
      I
      will not directly or indirectly engage in competition with, or enter the employ
      of or assist any person, firm, corporation or other entity engaged in a business
      competitive with, any business of Emerson in which I was employed, or solicit
      or
      hire any Emerson employees, even though no payment has been made to me under
      the
      terms of the Plan. I also agree Missouri law governs this agreement and consent
      to resolve any disputes in the courts in the state of Missouri.</font></div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 95%; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 20.72%; TEXT-INDENT: -20.72%; LINE-HEIGHT: 95%; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font style="FONT-FAMILY: Arial" size="2"><strong>I
      acknowledge I have read and
      understand the above, the Plan and Program Highlights and agree to the terms
      of
      the award as set forth therein.</strong></font></div>
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    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><u><strong><font size="4">C
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    <div style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&#160;</div>
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</strong>is entitled to be a participant in Emerson Electric Co.&#8217;s ______
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      This award is subject to all the terms of the Plan, a copy of which has been
      delivered to you. The Restriction Period applicable to these Shares is ________
      (__) years from the date hereof.</font></div>
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      to
      this agreement, that your entire interest in these Shares may be forfeited
      if
      you fail to remain in the employ of the Company (or one of its subsidiaries)
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      of
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      be wholly forfeited in the event of your resignation or discharge prior to
      such
      time; provided, however, in the event of any termination on account of death
      or
      any disability which in the determination of the Committee prevents your
      continued employment by the Company (or a subsidiary), the award of shares
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      Restriction Period and, provided you are not otherwise in default hereunder,
      you
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      restriction; provided further, however, in the event of a termination of your
      employment prior to the expiration of the Restriction Period, other than on
      account of your death or disability, the Committee, in its absolute discretion,
      may make such pro rata or other payment (or no payment) as it may
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      but
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      respect of the Shares shall be as follows.</font></div>
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      stop-transfer orders, dividend payment orders and such other orders as may
      be
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      discretion.</font></div>
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      person or persons within or without the Company (including its officers and
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      interests of the Company. Accordingly, you agree that you will maintain in
      confidence and will reveal to no one the fact that you have received this award
      nor any information concerning this award, except as you may be required by
      law
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      of confidentiality (before or after the Restriction Period) will constitute
      good
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      Electric Co. or a subsidiary thereof terminate for any reason (either before
      or
      after the Restriction Period) you will not engage in any business activity
      competitive to any business activity of Emerson or its subsidiaries in which
      you
      were engaged while you were employed by Emerson or a subsidiary thereof, or
      solicit or hire any Emerson employees. This restriction is applicable only
      in
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      activity, and shall continue for a period of two (2) years after termination
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      forfeited, together with any cash held on account of dividends on such
      Restricted Shares, shall be delivered to you, except that the Company shall
      withhold sufficient Shares and cash to enable it to satisfy its federal, state
      and local tax withholding obligations on account of such
      delinquency.</font></div>
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      receipt of this award does not constitute taxable income to you. Any cash
      dividends which are paid to you on the Restricted Shares will constitute taxable
      income to you when received. At such time as the restrictions on the Shares
      are
      released or satisfied and your right to the Shares becomes non-forfeitable
      you
      will have taxable income in an amount equal to the then fair market value of
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