**Exhibit 10.24**

 

**FIRSTAMENDMENT TO AGREEMENT**

 

This****FirstAmendment, dated November 11, 2004, is among Thermadyne Holdings Corporation, aDelaware corporation, its subsidiaries, (collectively the “**Company**”),and **James H. Tate**(“**Executive**”).

 

WITNESSETH:

 

WHEREAS, the Company andExecutive entered into an Agreement dated August 27, 2004 (the “Agreement”),which among other things set forth the terms of Executive’s resignation as theCompany’s Chief Financial Officer and appointment as its Financial Project Leader;and,

 

WHEREAS the partiesdesire to modify the Agreement;

 

NOW THEREFORE, theparties agree as follows:

 

1.               Section 1 of theAgreement shall be deleted in full and replaced with the following:

 

1.             Resignation from Current Positions.  On the earlier of: 1) the date the Companyhires a new Chief Financial Officer, or 2) **November 30, 2004**(which earlier date is hereinafter referred to as the “Resignation Date”),Executive shall cease to be Senior Vice President Chief Financial Officer, andcease to be an officer, or director of the Company.

 

2.               All otherprovisions of the Agreement remain in full force and effect.

 
|   |           |   | James H. Tate                       |
|--------|----------------|--------|-------------------------------------|
|   |           |   |                                |
|   |           |   |                                | \s\ James H.  Tate |   |
|   |           |   | Address of Executive:               |
|   |           |   | 17605 Lasiandra Drive               |
|   |           |   | Chesterfield, MO 63005              |
|   |           |   |                                |
|   | **EMPLOYERS:** |
|   |           |   |                                |
|   |           |
|   |           |   | **Thermadyne Holdings Corporation** |
|   |           |   |                                |
|   |           |   | By:                                 | \s\ Patricia S.  Williams |
|   |           |   |                                | Patricia S. Williams |
|   |           |   | Title:                              | Vice President and  General Counsel |

 

----

 
|   | **Thermadyne Industries, Inc.**    |
|--------|------------------------------------|
|   |                               |   |   |
|   | By:                                |   | \s\  Patricia S. Williams |
|   |                               |   | Patricia S. Williams |
|   | Title:                             |   | Vice President and  General Counsel |
|   |                               |   |   |
|   |                               |   |   |
|   | **Victor Equipment Company**       |
|   |                               |   |   |
|   |                               |   |   |
|   | By:                                |   | \s\  Patricia S. Williams |
|   |                               |   | Patricia S. Williams |
|   | Title:                             |   | Vice President and  General Counsel |
|   |                               |   |   |
|   |                               |   |   |
|   | **Thermadyne International Corp.** |
|   |                               |   |   |
|   |                               |   |   |
|   | By:                                |   | \s\  Patricia S. Williams |
|   |                               |   | Patricia S. Williams |
|   | Title:                             |   | Vice President and  General Counsel |
|   |                               |   |   |
|   | **Tweco Products, Inc.**           |
|   |                               |   |   |
|   |                               |   |   |
|   | By:                                |   | \s\  Patricia S. Williams |
|   |                               |   | Patricia S. Williams |
|   | Title:                             |   | Vice President and  General Counsel |
|   |                               |   |   |
|   |                               |   |   |
|   | **Thermal Dynamics Corp.**         |
|   | ** **                         |
|   |                               |   |   |
|   | By:                                |   | \s\  Patricia S. Williams |
|   |                               |   | Patricia S. Williams |
|   | Title:                             |   | Vice President and  General Counsel |
|   |                               |   |   |
|   |                               |   |   |
|   | **Stoody Company**                 |
|   |                               |   |   |
|   |                               |   |   |
|   | By:                                |   | \s\  Patricia S. Williams |
|   |                               |   | Patricia S. Williams |
|   | Title:                             |   | Vice President and  General Counsel |

 

----

 
|   | **Thermal Arc, Inc.**                |
|--------|--------------------------------------|
|   |                                 |   |   |
|   |                                 |   |   |
|   | By:                                  |   | \s\  Patricia S. Williams |
|   |                                 |   | Patricia S. Williams |
|   | Title:                               |   | Vice President and  General Counsel |
|   |                                 |   |   |
|   |                                 |   |   |
|   | **C&G Systems Holding, Inc.**    |
|   |                                 |   |   |
|   |                                 |   |   |
|   | By:                                  |   | \s\  Patricia S. Williams |
|   |                                 |   | Patricia S. Williams |
|   | Title:                               |   | Vice President and  General Counsel |
|   |                                 |   |   |
|   |                                 |   |   |
|   | **C&G Systems, Inc.**            |
|   |                                 |   |   |
|   |                                 |   |   |
|   | By:                                  |   | \s\  Patricia S. Williams |
|   |                                 |   | Patricia S. Williams |
|   | Title:                               |   | Vice President and  General Counsel |
|   |                                 |   |   |
|   | **Thermadyne Italia, Srl.**          |
|   |                                 |   |   |
|   |                                 |   |   |
|   | By:                                  |   | \s\  Patricia S. Williams |
|   |                                 |   | Patricia S. Williams |
|   | Title:                               |   | Vice President and  General Counsel |
|   |                                 |   |   |
|   |                                 |   |   |
|   | **Thermadyne Australia Pty Ltd**.    |
|   |                                 |   |   |
|   |                                 |   |   |
|   | By:                                  |   | \s\  Patricia S. Williams |
|   |                                 |   | Patricia S. Williams |
|   | Title:                               |   | Vice President and  General Counsel |
|   |                                 |   |   |
|   |                                 |   |   |
|   | **Thermadyne Asia/Pacific Pte Ltd.** |
|   |                                 |   |   |
|   |                                 |   |   |
|   | By:                                  |   | \s\  Patricia S. Williams |
|   |                                 |   | Patricia S. Williams |
|   | Title:                               |   | Vice President and  General Counsel |

 

----

 
|   | **Thermadyne Japan, Ltd.**                   |
|--------|----------------------------------------------|
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Palco Trading Company**                    |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Thermadyne Foreign Sales  Corporation**    |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   | **Thermadyne South America  Holdings, Ltd.** |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Thermadyne South Africa (Pty)  Ltd.**      |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Maxweld & Braze (Pty) Ltd.**           |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |

 

----

 
|   | **GenSet S.p.A.**      |
|--------|------------------------|
|   |                   |   |   |
|   |                   |   |   |
|   | By:                    |   | \s\  Patricia S. Williams |
|   |                   |   | Patricia S. Williams |
|   | Title:                 |   | Vice President and  General Counsel |
|   |                   |   |   |
|   |                   |   |   |
|   | **Tecmo Srl**          |
|   |                   |   |   |
|   |                   |   |   |
|   | By:                    |   | \s\  Patricia S. Williams |
|   |                   |   | Patricia S. Williams |
|   | Title:                 |   | Vice President and  General Counsel |
|   |                   |   |   |
|   | **Ocim Srl**           |
|   |                   |   |   |
|   |                   |   |   |
|   | By:                    |   | \s\  Patricia S. Williams |
|   |                   |   | Patricia S. Williams |
|   | Title:                 |   | Vice President and  General Counsel |
|   |                   |   |   |
|   |                   |   |   |
|   | **Tec Mo Cut Srl**     |
|   |                   |   |   |
|   |                   |   |   |
|   | By:                    |   | \s\  Patricia S. Williams |
|   |                   |   | Patricia S. Williams |
|   | Title:                 |   | Vice President and  General Counsel |
|   |                   |   |   |
|   |                   |   |   |
|   | **Tec Mo Control Srl** |
|   |                   |   |   |
|   |                   |   |   |
|   | By:                    |   | \s\  Patricia S. Williams |
|   |                   |   | Patricia S. Williams |
|   | Title:                 |   | Vice President and  General Counsel |
|   |                   |   |   |
|   |                   |   |   |
|   | **BBM Srl**            |
|   |                   |   |   |
|   |                   |   |   |
|   | By:                    |   | \s\  Patricia S. Williams |
|   |                   |   | Patricia S. Williams |
|   | Title:                 |   | Vice President and  General Counsel |

 

----

 
|   | **Duxtech Pty. Ltd.**                 |
|--------|---------------------------------------|
|   |                                  |   |   |
|   |                                  |   |   |
|   | By:                                   |   | \s\  Patricia S. Williams |
|   |                                  |   | Patricia S. Williams |
|   | Title:                                |   | Vice President and  General Counsel |
|   |                                  |   |   |
|   |                                  |   |   |
|   | **Cigweld Group Pty. Ltd.**           |
|   |                                  |   |   |
|   |                                  |   |   |
|   | By:                                   |   | \s\  Patricia S. Williams |
|   |                                  |   | Patricia S. Williams |
|   | Title:                                |   | Vice President and  General Counsel |
|   |                                  |   |   |
|   |                                  |   |   |
|   | **Quetala Pty. Ltd.**                 |
|   |                                  |   |   |
|   |                                  |   |   |
|   | By:                                   |   | \s\  Patricia S. Williams |
|   |                                  |   | Patricia S. Williams |
|   | Title:                                |   | Vice President and  General Counsel |
|   |                                  |   |   |
|   |                                  |   |   |
|   | **Quetack Pty. Ltd.**                 |
|   |                                  |   |   |
|   |                                  |   |   |
|   | By:                                   |   | \s\  Patricia S. Williams |
|   |                                  |   | Patricia S. Williams |
|   | Title:                                |   | Vice President and  General Counsel |
|   |                                  |   |   |
|   |                                  |   |   |
|   | **Quetala Unit Trust**                |
|   |                                  |   |   |
|   |                                  |   |   |
|   | By:                                   |   | \s\  Patricia S. Williams |
|   |                                  |   | Patricia S. Williams |
|   | Title:                                |   | Vice President and  General Counsel |
|   |                                  |   |   |
|   |                                  |   |   |
|   | **Thermadyne Brazil Holdings,  Ltd.** |
|   |                                  |   |   |
|   |                                  |   |   |
|   | By:                                   |   | \s\  Patricia S. Williams |
|   |                                  |   | Patricia S. Williams |
|   | Title:                                |   | Vice President and  General Counsel |

 

----

 
|   | **Thermadyne Victor Ltda.**         |
|--------|-------------------------------------|
|   |                                |   |   |
|   |                                |   |   |
|   | By:                                 |   | \s\  Patricia S. Williams |
|   |                                |   | Patricia S. Williams |
|   | Title:                              |   | Vice President and  General Counsel |
|   |                                |   |   |
|   |                                |   |   |
|   | **Thermadyne Chile Holdings, Ltd.** |
|   |                                |   |   |
|   |                                |   |   |
|   | By:                                 |   | \s\  Patricia S. Williams |
|   |                                |   | Patricia S. Williams |
|   | Title:                              |   | Vice President and  General Counsel |
|   |                                |   |   |
|   | **Soltec SA**                       |
|   |                                |   |   |
|   |                                |   |   |
|   | By:                                 |   | \s\  Patricia S. Williams |
|   |                                |   | Patricia S. Williams |
|   | Title:                              |   | Vice President and  General Counsel |
|   |                                |   |   |
|   |                                |   |   |
|   | **Metalservice S.A.**               |
|   |                                |   |   |
|   |                                |   |   |
|   | By:                                 |   | \s\  Patricia S. Williams |
|   |                                |   | Patricia S. Williams |
|   | Title:                              |   | Vice President and  General Counsel |
|   |                                |   |   |
|   |                                |   |   |
|   | **Thermadyne do Brasil Ltda.**      |
|   |                                |   |   |
|   |                                |   |   |
|   | By:                                 |   | \s\  Patricia S. Williams |
|   |                                |   | Patricia S. Williams |
|   | Title:                              |   | Vice President and  General Counsel |
|   |                                |   |   |
|   |                                |   |   |
|   | **Thermadyne Industries Ltd.**      |
|   |                                |   |   |
|   |                                |   |   |
|   | By:                                 |   | \s\  Patricia S. Williams |
|   |                                |   | Patricia S. Williams |
|   | Title:                              |   | Vice President and  General Counsel |

 

----

 
|   | **Thermadyne Cylinder Co.**                   |
|--------|-----------------------------------------------|
|   |                                          |   |   |
|   |                                          |   |   |
|   | By:                                           |   | \s\  Patricia S. Williams |
|   |                                          |   | Patricia S. Williams |
|   | Title:                                        |   | Vice President and  General Counsel |
|   |                                          |   |   |
|   | **Canadian Cylinder Company**                 |
|   |                                          |   |   |
|   |                                          |   |   |
|   | By:                                           |   | \s\  Patricia S. Williams |
|   |                                          |   | Patricia S. Williams |
|   | Title:                                        |   | Vice President and  General Counsel |
|   |                                          |   |   |
|   |                                          |   |   |
|   | **Thermadyne Receivables, Inc.**              |
|   |                                          |   |   |
|   |                                          |   |   |
|   | By:                                           |   | \s\  Patricia S. Williams |
|   |                                          |   | Patricia S. Williams |
|   | Title:                                        |   | Vice President and  General Counsel |
|   |                                          |   |   |
|   |                                          |   |   |
|   | **MECO Holding Company**                      |
|   |                                          |   |   |
|   |                                          |   |   |
|   | By:                                           |   | \s\  Patricia S. Williams |
|   |                                          |   | Patricia S. Williams |
|   | Title:                                        |   | Vice President and  General Counsel |
|   |                                          |   |   |
|   |                                          |   |   |
|   | **Protip Corporation**                        |
|   |                                          |   |   |
|   |                                          |   |   |
|   | By:                                           |   | \s\  Patricia S. Williams |
|   |                                          |   | Patricia S. Williams |
|   | Title:                                        |   | Vice President and  General Counsel |
|   |                                          |   |   |
|   |                                          |   |   |
|   | **Thermadyne Welding Products  Canada, Ltd.** |
|   |                                          |   |   |
|   |                                          |   |   |
|   | By:                                           |   | \s\  Patricia S. Williams |
|   |                                          |   | Patricia S. Williams |
|   | Title:                                        |   | Vice President and  General Counsel |

 

----

 
|   | **Thermadyne de Mexico S.A. de  C.V.**       |
|--------|----------------------------------------------|
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Tweco de Mexico S.A. de C.V.**             |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   | **Victor Equipment de Mexico S.A.  de C.V.** |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Cigweld Group Pty. Ltd.**                  |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Philippine Welding Equipment, Inc.**       |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |
|   |                                         |   |   |
|   |                                         |   |   |
|   | **Cigweld Property Holdings, Inc.**          |
|   |                                         |   |   |
|   |                                         |   |   |
|   | By:                                          |   | \s\  Patricia S. Williams |
|   |                                         |   | Patricia S. Williams |
|   | Title:                                       |   | Vice President and  General Counsel |

 

----

 
|   | **Thermal Arc Phils, Inc.**   |
|--------|-------------------------------|
|   |                          |   |   |
|   |                          |   |   |
|   | By:                           |   | \s\  Patricia S. Williams |
|   |                          |   | Patricia S. Williams |
|   | Title:                        |   | Vice President and  General Counsel |
|   |                          |   |   |
|   |                          |   |   |
|   | **Cigweld Philippines, Inc.** |
|   |                          |   |   |
|   |                          |   |   |
|   | By:                           |   | \s\  Patricia S. Williams |
|   |                          |   | Patricia S. Williams |
|   | Title:                        |   | Vice President and  General Counsel |
|   |                          |   |   |
|   |                          |   |   |
|   | **Thermadyne Asia SDN BHD**   |
|   |                          |   |   |
|   |                          |   |   |
|   | By:                           |   | \s\  Patricia S. Williams |
|   |                          |   | Patricia S. Williams |
|   | Title:                        |   | Vice President and  General Counsel |
|   |                          |   |   |
|   | **Thermadyne Korea Ltd.**     |
|   |                          |   |   |
|   |                          |   |   |
|   | By:                           |   | \s\  Patricia S. Williams |
|   |                          |   | Patricia S. Williams |
|   | Title:                        |   | Vice President and  General Counsel |
|   |                          |   |   |
|   |                          |   |   |
|   | **PT Thermadyne Utama**       |
|   |                          |   |   |
|   |                          |   |   |
|   | By:                           |   | \s\  Patricia S. Williams |
|   |                          |   | Patricia S. Williams |
|   | Title:                        |   | Vice President and  General Counsel |
|   |                          |   |   |
|   |                          |   |   |
|   | **PT Cigweld Indonesia**      |
|   |                          |   |   |
|   |                          |   |   |
|   | By:                           |   | \s\  Patricia S. Williams |
|   |                          |   | Patricia S. Williams |
|   | Title:                        |   | Vice President and  General Counsel |

 

----

 
|   | **Thermadyne Hong Kong Ltd.**    |
|--------|----------------------------------|
|   |                             |   |   |
|   |                             |   |   |
|   | By:                              |   | \s\  Patricia S. Williams |
|   |                             |   | Patricia S. Williams |
|   | Title:                           |   | Vice President and  General Counsel |
|   |                             |   |   |
|   |                             |   |   |
|   | **Cigweld Malaysia SDN**         |
|   |                             |   |   |
|   |                             |   |   |
|   | By:                              |   | \s\  Patricia S. Williams |
|   |                             |   | Patricia S. Williams |
|   | Title:                           |   | Vice President and  General Counsel |
|   |                             |   |   |
|   |                             |   |   |
|   | **Thermadyne Thailand Co. Ltd.** |
|   |                             |   |   |
|   |                             |   |   |
|   | By:                              |   | \s\  Patricia S. Williams |
|   |                             |   | Patricia S. Williams |
|   | Title:                           |   | Vice President and  General Counsel |

 

----