**Exhibit 10.25**

** **

**SECOND AMENDMENT TO AGREEMENT**

** **

This****Second Amendment, dated November 24, 2004, is amongThermadyne Holdings Corporation, a Delaware corporation, its subsidiaries, (collectivelythe “**Company**”), and **James H.Tate**(“**Executive**”).

 

WITNESSETH:

 

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

 

WHEREAS,the Parties first amended the Agreement on November 11, 2004; and,

 

WHEREASthe parties desire to modify the Agreement;

NOWTHEREFORE, the parties agree as follows:

 

1.               Section 1of the Amended Agreement shall be deleted in full and replaced with thefollowing:

 

1.                                       Resignationfrom Current Positions.  On theearlier of: 1) the date the Company hires a new Chief Financial Officer, or 2) **December 15, 2004** (which earlier date is hereinafterreferred to as the “Resignation Date”), Executive shall cease to be Senior VicePresident Chief Financial Officer, and cease to be an officer, or director of theCompany.

 

2.               Allother provisions 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 |
|   | Tile:                                         | 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 |

 

----