Relay protection with MOV and RC Snubber
a protection circuit for a 240 volt pump motor.


Actually you are wanting to protect the relay contacts (which you acknowledge). 

You do not specify the size of the motor. But that is ok. For the larger audience, on larger motors, a Motor Starter is used rather than a simple relay. High power Motor Starters often contain an Arc Chute. More information can be obtained on Arc Chute using this link. 

Essentially an arc chute uses the arc itself (current) to create magnetic field that draws the arc away from the contacts, extinguishing the arc on the contacts. (Very common on circuit breakers by the way).

In smaller motors and using relay's, you can find help on RC snubbers here on Electrical Engineering. Pretty common stuff.  Essentially a 0.1uf (get one rated at 400 volts) and 100 ohm resistor (perhaps 2 Watts).  Start with an RC snubber. Don't go for an MOV yet.