REXNORD LLC
LETTER OF CLARIFICATION RELATED TO EMPLOYMENT AGREEMENT
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<TYPE>EX-10.23
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<DESCRIPTION>LETTER OF CLARIFICATION RELATED TO EMPLOYMENT AGREEMENT
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 10.23</B> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman"
SIZE="2">September&nbsp;8, 2008 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Alex P. Marini </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Dear Al,
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">We recently performed a review of our employment agreements and severance agreements for compliance with Section&nbsp;409A of the Internal Revenue Code
(&#147;Section 409A&#148;). Section&nbsp;409A imposes tax penalties on employees if their compensation arrangements do not meet certain technical requirements. We have determined that certain provisions of your February&nbsp;7, 2007 employment
agreement (the &#147;Employment Agreement&#148;) should be clarified in order to assure that you do not become subject to these penalties. These clarifications are as follows: </FONT></P> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">A termination of employment under Section&nbsp;8 of the Employment Agreement shall mean a &#147;Separation from Service&#148; as defined in Treasury Regulation
Section&nbsp;1.409A-1(h). </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">Any bonus payable under Section&nbsp;4 of the Employment Agreement shall be paid within the time period required to satisfy the Section&nbsp;409A short-term
deferral exception, meaning that payment shall be made by the later of (a)&nbsp;the March&nbsp;15 of the calendar year following the year in which the amount is earned, or (b)&nbsp;2 1/2 months following the end of the Company&#146;s fiscal year in
which the amount is earned. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">The Employment Agreement is intended to comply with the provisions of Section&nbsp;409A and the Employment Agreement shall, to the extent practicable, be construed
in accordance therewith. Payments under the Employment Agreement may not be accelerated or deferred except as specifically permitted under Section&nbsp;409A. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">If you are in agreement with the following changes, please sign in the space below and return to me within fifteen business days of receipt. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
FACE="Times New Roman" SIZE="2">Sincerely, </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Chris Baak</FONT></TD></TR>
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<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Vice President, Human Resources</FONT></TD></TR>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ ALEX P. MARINI</FONT></TD>
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<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">9/30/2008</FONT></TD>
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<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Alex P. Marini</FONT></TD>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">53 </FONT></P>

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