Exhibit 10.25


 


SECOND AMENDMENT TO AGREEMENT


 


This Second Amendment, dated November 24, 2004, is among
Thermadyne Holdings Corporation, a Delaware corporation, its subsidiaries, (collectively
the “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 resignation
as the Company’s Chief Financial Officer and appointment as its Financial
Project Leader; and,


 


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


 


WHEREAS
the parties desire to modify the Agreement;


NOW
THEREFORE, the parties agree as follows:


 


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


 


1.                                       Resignation
from Current Positions.  On the
earlier of: 1) the date the Company hires a new Chief Financial Officer, or 2) December 15, 2004 (which earlier date is hereinafter
referred to as the “Resignation Date”), Executive shall cease to be Senior Vice
President Chief Financial Officer, and cease to be an officer, or director of the
Company.


 


2.               All
other 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