Document:

Amendment to Employment Agreement

 Exhibit 10.2 
 AMENDMENT NO. 1 TO EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS AMENDMENT NO. 1
(the “Amendment”) to the Executive Employment Agreement (the “Employment Agreement”) entered into effective as of March 24, 2011, by and between Colfax Corporation, a Delaware corporation (the
“Company”) and Clay H. Kiefaber (the “Executive”), is itself by and between the Company and the Executive and is entered into effective as of April 22, 2012 (the “Effective Date”). The
Amendment makes the following changes to the Employment Agreement as of the Effective Date: 
 1. The first sentence of
Section 1 of the Employment Agreement entitled “Positions, Duties and Term” is hereby amended to replace the term “its President and Chief Executive Officer” with the term “Chief Executive Officer of ESAB Global
and Executive Vice President of the Company.” 
 2. The introductory paragraph of Section 4 of the Employment
Agreement entitled “Termination Without Cause or for Good Reason” is hereby amended to replace the final sentence with the following sentence: 
 In addition, in connection with a resignation or termination described in this Section 4, and subject to the requirements of Section 4.3, the Executive shall be entitled to the benefits
described in Section 4.1 and, to the extent applicable, Section 4.2, and except to the extent otherwise required under Section 4.2 or Section 10.7, the payments shall be made, and the benefits shall be provided, upon employment
termination or as soon as reasonably practicable thereafter. 
 3. The introductory clause to Section 4.1 of the Employment
Agreement entitled “Severance and Pro-Rata Bonus” is hereby amended in its entirety to read as follows: 
 With
respect to termination of employment under this Section 4 only, the benefits under this Section 4.1 shall consist of the following: 
 4. Section 4.2 of the Employment Agreement entitled “Change in Control Termination Accelerated Vesting” is hereby amended in its entirety to read as follows: 

4.2 Accelerated Vesting and Special Extended Exercisability. With respect to termination of employment under this
Section 4 only, the benefits under this Section 4.2 shall consist of the following: 
  

	 	(i)	 All equity or equity-based awards held by the Executive at termination of employment, including but not limited to, stock options, restricted stock,
restricted stock units, whether or not granted as performance-based awards, and which at the time of termination of employment are subject only to time-vesting based on service (the “Time Vested Awards”), shall become vested and
non-forfeitable on a Pro-Rata Basis to the extent not already so vested; provided, however, that if the Executive’s resignation or termination under this 

	 	
Section 4 shall occur within 3 months prior to a Change in Control Event or within two (2) years after a Change in Control, the Time Vested Awards shall become fully vested and
non-forfeitable; and 

  

	 	(ii)	Subject to Section 4.2(iii) and the clarification described in the next sentence, with respect all equity and equity-based awards held by the Executive which are
subject to cancellation in the event the stated performance objectives are not satisfied, including but not limited to, stock options, restricted stock, restricted stock units, and for which at the time of the Executive’s termination of
employment, the performance objectives have not been satisfied (the “Performance-Based Awards”), the awards shall become vested and non-forfeitable on a Pro-Rata Basis, but only if at the end of the performance period the
performance objectives are achieved; provided, however, that if the Executive’s resignation or termination under this Section 4 shall occur within 3 months prior to a Change in Control Event or within two (2) years after a Change in
Control, the Performance Awards shall become fully vested and non-forfeitable. With respect to the provision for vesting and non-forfeiture of an award on a Pro-Rata Basis as described herein, only the performance periods under the award that have
already commenced as of the time of termination of employment shall be taken into account to determine whether the performance objectives ultimately are achieved, and any performance period that has not commenced at the time of termination shall be
disregarded for purposes of determining whether the award becomes vested and non-forfeitable on a Pro-Rata Basis; and 

  

	 	(iii)	The amount of Performance-Based Awards eligible to become vested under Section 4.2(ii) shall be determined by the level of achievement of the performance
objectives; provided, however, that if the Executive’s resignation or termination under this Section 4 shall occur within 3 months prior to a Change in Control Event or within two (2) years after a Change in Control, the earnings
level shall not be conditioned on awaiting the end of the performance period and achievement of the performance objectives, and instead the performance objectives upon which the earning of the Performance-Based Award is conditioned shall be deemed
to have been met at the greater of (A) target level at the date of termination, or (B) actual performance at the date of termination; and 

  

	 	(iv)	If the Executive’s resignation or termination under this Section 4 shall occur within 3 months prior to a Change in Control Event or within two (2) years
after a Change in Control, any performance objectives upon which the earning of any other long-term incentive awards (including cash awards) is conditioned shall be deemed to have been met at the greater of (A) target level at the date of
termination, or (B) actual performance at the date of termination. 

  
 2 

 Except as provided above in this Section 4.2, all other terms of the awards described
herein shall be governed by the plans and programs and the agreements and other documents pursuant to which such awards were granted. 
 5. A new Section 10.8 is hereby added to the Employment Agreement to read as follows: 
 10.8 Pro-Rata Basis. For purposes of Section 4.2, the Pro-Rata Basis of vesting shall mean vesting in an amount equal to a fraction not to exceed 1, the numerator of which is the number of
days the Executive was employed by the Company from the grant date for such award to the date of termination and the denominator of which is the total number for days from the grant date until the date that full vesting of the award would have been
achieved. 
 6. Except as expressly provided herein, the terms and conditions of the Employment Agreement shall remain in full
force and effect and shall be binding on the parties hereto. 
 IN WITNESS WHEREOF, the parties have duly executed and
delivered this Amendment, or have caused this Amendment to be duly executed and delivered in their name and on their behalf, intending to be legally bound by its terms, as of the Effective Date, as if the provisions hereof were originally included
in the Employment Agreement. By singing this Amendment, the Executive hereby consents to his new position with the Company, and the Executive furthermore acknowledges and agrees that his acceptance of and transition to the new position and duties
does not give rise to Good Reason under the Employment Agreement. 
  

			
	COLFAX CORPORATION
		
	By:	 	 /s/ C. Scott Brannan

	Name:	 	C. Scott Brannan
	Title: Senior Vice President, Finance and Chief Financial Officer
	
	CLAY H. KIEFABER
	
	 /s/ Clay H. Kiefaber

  
 3Consulting Agreement

 Exhibit 10.3 
 April 22, 2012 
 Mr. Joseph O. Bunting III 

c/o Colfax Corporation 
 8170 Maple
Lawn Boulevard, Suite 180 
 Fulton, MD 20759 
 Dear Joe: 
 With this letter, we are pleased to confirm the terms of your continued service to
Colfax Corporation (the “Company”) as a consultant to the Board of Directors (the “Board”). 
 You have
agreed to accept the Board’s offer to serve as a strategic advisor (“Strategic Advisor”) to the Board and to the executive management team of the Company. Your duties as Strategic Advisor will include providing insight and perspective
concerning business strategy and policies, attending Board meetings as an observer as requested by the Board chair, and other services as requested by the Board chair. 
 In your role as Strategic Advisor, you will be paid a quarterly fee of $5,000, as soon as reasonably practicable following the close of the quarter/month. 

You and the Board agree that your role as Strategic Advisor is an “at-will” relationship. This relationship is terminable for
any reason or no reason and at any time by the Board. 
 You and the Board agree that you will perform your duties under this
letter agreement as an independent contractor of the Company. You will not be eligible for any benefits that the Company provides to its employees, including but not limited to group insurance coverage and other employee benefit plan coverages. You
agree that any payments made under this letter agreement shall constitute consulting fees and that you will be responsible for all taxes incurred in connection with the performance of services under this letter agreement. 

You will be reimbursed for reasonable and necessary expenses incurred in the fulfillment of your duties in accordance with the
Company’s generally applicable policies. 
 The Company shall indemnify you as permitted by law and its by-laws for
reasonable costs and fees that you may incur in the discharge of your duties hereunder. 
 This letter agreement supersedes any
other written or oral agreement relating to the matters addressed herein. 
 We value your contributions to the Company as a prior member of our
Board and believe that further collaboration efforts will assist us with our growth objectives and the integration of our businesses. The Board and management look forward to your continued partnership with us. 

	
	Sincerely,
	
	 /s/ Mitchell P. Rales

	Mitchell P. Rales
	Chairman of the Board
	
	Agreed and acknowledged:
	
	 /s/ Joseph O. Bunting III

	Joseph O. Bunting III

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