Document:

EX-10.34

Exhibit
10.34

AMENDED AND RESTATED

THERMADYNE HOLDINGS CORPORATION

NON-EMPLOYEE DIRECTORS’

DEFERRED FEE PLAN

ARTICLE I

INTRODUCTION

     1.1 Establishment. Thermadyne Holdings Corporation (the “Company”) established the Thermadyne
Holdings Corporation Non-employee Directors’ Deferred Stock Compensation Plan (the “Plan”) for
those Directors of the Company who are not employees of the Company or any of its subsidiaries or
affiliates. The Plan allows Non-employee Directors effective January 1, 2004 to defer the receipt
of cash compensation. The Plan is hereby amended and restated so that it complies with Section 409A
of the Internal Revenue Code of 1986, as amended.

     1.2 Purpose. The Plan is intended to advance the interests of the Company and its stockholders
by providing a means to attract and retain qualified persons to serve as Non-employee Directors and
to align Non-Employee Directors’ interests more closely with the interests of stockholders of the
Company.

     1.3 Effective Date. This restatement of the Plan is effective as of January 1, 2005 (the
“Effective Date”).

ARTICLE II

DEFINITIONS

     Certain terms used in this Plan have the meanings set forth in Appendix I.

ARTICLE III

ADMINISTRATION

     The Plan shall be administered by the Board or such other committee as may be designated by
the Board. The Committee shall have the authority to make all determinations it deems necessary or
advisable for administering the Plan, subject to the express provisions of the Plan.
Notwithstanding the foregoing, no Director who is a Participant under the Plan shall participate in
any determination relating solely or primarily to his or her own Stock Units or Stock Unit Account.

 

 

ARTICLE IV

ELIGIBILITY

     Each person who is a Non-employee Director shall be eligible to participate in the Plan. If
any Non-employee Director subsequently becomes an employee of the Company or any of its
subsidiaries, but does not incur a Termination of Service, such Director shall continue as a
Participant with respect to Fees previously deferred, but shall cease eligibility with respect to
all Fees, if any, earned while an employee.

ARTICLE V

DEFERRAL ELECTIONS IN LIEU OF CASH PAYMENTS

     5.1 General Rule. Each Non-employee Director may, in lieu of receipt of Fees, defer any or all
of such Fees in accordance with this ARTICLE V. A Non-employee Director may elect to defer a
percentage (of not less than 25% and in 5% increments up to 100%) of his or her Fees.

     5.2 Timing and Duration of Election. A Deferral Election with respect to Fees must be made
before the beginning of a calendar year in which service as a Non-employee Director, for which such
Fees are to be paid, is rendered. In the first calendar year in which a Non-employee Director
becomes eligible to defer Fees, an election may be made, with respect to Fees to be paid for
services to be rendered subsequent to the election, within thirty days after the date the
Participant becomes eligible to participate in the Plan. After a Deferral Election is made, it
shall be irrevocable with respect to Fees to be paid for services to be performed in the calendar
year with respect to which such Deferred Election is made except that such Deferral Election may be
changed prior to the beginning of such year. A Deferral Election may be changed with respect to
Fees to be paid with respect to services to be rendered in a subsequent calendar year as a
Non-employee Director provided that such election is made prior to the beginning of such year. A
Deferral Election shall continue to be in effect and applicable to fees for subsequent calendar
years until it is changed in accordance with this Section 5.2.

     5.3 Form of Election. A Deferral Election shall be made in a manner satisfactory to the
Committee. A Deferral Election shall be made by completing and filing the specified election form
with the Secretary or his or her designee within the period described in Section 5.2.

     5.4 Establishment of Stock Unit Account. The Company shall establish a Stock Unit Account for
each Participant. All Fees deferred pursuant to this ARTICLE V shall be credited to the
Participant’s Stock Unit Account and converted to Stock Units as of the Deferral Date. The number
of Stock Units credited to a Participant’s Stock Unit Account as of a Deferral Date shall equal the
amount of the deferred Fees divided by the Fair
Market Value of a Share on such Deferral Date, with fractional units calculated to three
decimal places.

     5.5 Crediting of Dividend Equivalents. As of each dividend payment date with respect to
Shares, each Participant shall have credited to his or her Stock Unit Account a dollar amount equal
to the amount of cash dividends that would have been paid on the number of Shares equal to the
number of Stock Units credited to the Participant’s Stock Unit Account as of

2

 

the close of business on the record date for such dividend. Such dollar amount shall then be
converted into a number of Stock Units equal to the number of whole and fractional Shares that
could have been purchased with such dollar amount at Fair Market Value on the dividend payment
date.

ARTICLE VI

SETTLEMENT OF STOCK UNITS

     6.1 Timing of Payment. A Participant shall receive or begin receiving a distribution of his or
her Stock Unit Account in the manner described in Section 6.2 on or as soon as administratively
feasible after the earlier of (i) the first day of the second calendar month immediately following
the month in which the Participant incurs a Termination of Service (but not less than six months
after the Participant has made a Deferral Election), or (ii) a date specified by the Participant. A
Participant may make an election as to the time of distribution of his or her Stock Unit Account at
the time he or she makes his or her initial Deferral Election; however, a Participant may make a
separate distribution election with respect to a Stock Unit Account established with respect to
Fees deferred for a specified calendar year provided such election is made prior to January 1 of
such year. If a Participant does not make an election as to the distribution of his or her Stock
Unit Account, such Account shall be distributed on the first day of the second calendar month
immediately following the month in which the Participant incurs a Termination of Service (but not
less than six months after the Participant has made a deferral election). A Participant may also
elect to receive a distribution as soon as administratively feasible following a Change in Control.
Notwithstanding anything in this Section 6.1 to the contrary, a Participant may not elect to defer
distribution of his or her Stock Unit Account to a date later than the occurrence of a Change of
Control if he or she elected to have distribution commence on a Change of Control. A Participant
may make an election to further defer the commencement of distribution of his or her Stock Unit
Account to a date later than that specified above provided he or she makes such election with the
Secretary or his or her delegate at least one year prior to the date such distribution is
originally scheduled to commence and the date upon which he or she subsequently elects to have such
distribution commence is at least five years later than
the date it is originally scheduled to commence. If the Participant is a “specified employee”
within the meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended, at
the time distribution of his or her Stock Unit Account is to commence, distribution shall be made
in accordance with Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended.

     6.2 Payment Options. The initial Deferral Election filed under ARTICLE V shall specify
whether the Participant’s Stock Unit Account is to be paid to the Participant, in either (i) a lump
sum, or (ii) substantially equal annual installments over a period not to exceed five years. A
Participant may make a separate election as to the form of distribution with respect to a Stock
Unit Account established with respect to Fees deferred for a specified calendar year provided such
election is made prior to January 1 of such year. If a Participant does not specify a form of
distribution, his or her Stock Unit Account shall be paid in a lump sum. The amount of cash to be
distributed shall be determined by multiplying the number of Stock Units, including fractional
Stock Units, in the portion of the Stock Unit Account to be distributed by the Fair Market Value of
Shares on the date of distribution. A Participant may change the manner in which his or her Stock
Unit Account is distributed by delivering a new election form to the Secretary or to his or

3

 

her designee at least one year before the date on which the distribution of the Stock Unit Account
is originally scheduled to commence, provided, in this case, distribution may not commence for at
least five years following the date the distribution is originally scheduled to commence.
Notwithstanding anything in this Section 6.2 to the contrary, a Participant may not change the form
of distribution to occur on a Change of Control if he or she elected to have distribution commence
on a Change of Control.

     6.3 Payment Upon Death of a Participant. If a Participant dies before the entire balance of
his or her Stock Unit Account has been distributed, the balance of the Participant’s Stock Unit
Account shall be paid in a lump sum, determined as provided under Section 6.2, as soon as
administratively feasible after the Participant’s death, to the beneficiary designated by the
Participant under ARTICLE VIII.

     6.4 Continuation of Dividend Equivalents. If payment of Stock Units is deferred pursuant to
Section 6.1 or is paid in installments, the Participant’s Stock Unit Account shall continue to be
credited with dividend equivalents as provided in Section 5.5, based
upon the number of Stock Units remaining in the Account, until the entire balance of the
Participant’s Stock Unit Account has been distributed.

ARTICLE VII

UNFUNDED STATUS

     7.1 General. The interest of each Participant in any Fees deferred under the Plan (and any
Stock Units or Stock Unit Account relating thereto) shall be that of a general creditor of the
Company. Stock Unit Accounts, and Stock Units credited thereto, shall at all times be maintained
by the Company as bookkeeping entries evidencing unfunded and unsecured general obligations of the
Company. Except as provided in Section 7.2, no money or other assets shall be set aside for any
Participant.

     7.2 Trust. To the extent determined by the Board, the Company may transfer funds necessary to
fund all or part of the payments under the Plan to a trust; provided, the assets held in such trust
shall remain at all times subject to the claims of the general creditors of the Company in the
event the Company becomes insolvent. The Company shall not grant a security interest in the assets
held by the trust in favor of any Participant, beneficiary or creditor.

4

 

ARTICLE VIII

DESIGNATION OF BENEFICIARY

     Each Participant may designate, on a form provided by the Committee, one or more beneficiaries
to receive payment of the Participant’s Stock Unit Account in the event of such Participant’s
death. The Company may rely upon the beneficiary designation last filed with the Committee,
provided that such form was executed by the Participant or his or her legal representative and
filed with the Committee prior to the Participant’s death. If a Participant has not designated a
beneficiary, or if the designated beneficiary is not surviving when a payment is to be made to such
person under the Plan, the beneficiary with respect to such payment shall be the Participant’s
surviving spouse, or if there is no surviving spouse, the Participant’s estate.

ARTICLE IX

ADJUSTMENT PROVISIONS

     In the event of a reorganization, recapitalization, stock split, stock dividend, spin-off,
combination, corporate exchange, merger, consolidation or other change in the Common Stock or any
distribution to stockholders of Common Stock other than cash
dividends or any transaction determined in good faith by the Board or Committee to be similar
to the foregoing, the Board or Committee shall make appropriate equitable changes in the Stock
Units credit to Stock Unit Accounts under ARTICLE V.

ARTICLE X

GENERAL PROVISIONS

     10.1 No Stockholder Rights Conferred. Nothing contained in the Plan will confer upon any
Participant or beneficiary any rights of a Stockholder of the Company.

     10.2 Changes to The Plan. The Board may amend, alter, suspend, discontinue, extend, or
terminate the Plan without the consent of Participants; provided, no action taken without the
consent of an affected Participant may materially impair the rights of such Participant with
respect to any Stock Units credited to his or her Stock Unit Account at the time of such change or
termination except that the Board may, without the consent of any Participant, terminate the Plan
and pay out amounts then credited to Participant’s Stock Unit Accounts.

     10.3 Compliance With Laws and Obligations. The Company will not be obligated to make
distributions in connection with the Plan in a transaction subject to the registration requirements
of the Securities Act of 1933, as amended, or any other federal or state securities law, any
requirement under any listing agreement between the Company and any national securities exchange or
automated quotation system or any other laws, regulations, or contractual obligations of the
Company, until the Company is satisfied that such laws, regulations and other obligations of the
Company have been complied with in full.

     10.4 Limitations on Transferability. Stock Units and other rights under the Plan may not be
pledged, mortgaged, hypothecated or otherwise encumbered, and shall not be subject to the claims of
creditors of any Participant.

5

 

     10.5 Governing Law. The validity, construction and effect of the Plan and any agreement
hereunder will be determined in accordance with the Delaware law except to the extent preempted by
Federal law. In the event of litigation arising out of or in connection with this Plan, the parties
to such litigation shall submit to the jurisdiction of Federal and state courts located in
Missouri.

     10.6 Plan Termination. Unless earlier termination by action of the Board, the Plan will remain
in effect until such time all amounts credited to Stock Unit Accounts are distributed and the
Company has no further rights or obligations under the Plan.

     IN WITNESS WHEREOF, the Company has adopted this AMENDED AND RESTATED THERMADYNE HOLDINGS
CORPORATION NON-EMPLOYEE DIRECTORS DEFERRED FEE PLAN this                      day of July, 2006.

	 	 	 	 	 
	 	THERMADYNE HOLDING CORPORATION

 	 
	 	By:  	 	 
	 	 	     President 	 
	 	 	 	 

6

 

	 	 	 	 	 

 APPENDIX I

     “Board” means the Board of Directors of the Company.

     “Change in Control” shall have the meaning as described in Prop. Treasury Reg. 1409A-3(g)(5)
or any successor regulation.

     “Committee” means the Board or a committee appointed to administer the Plan under ARTICLE III.

     “Common Stock” means the Company’s class of capital stock designed as Common Stock, par value
one cent ($0.01) per share, or, in the event that the outstanding shares of Common Stock are after
the Effective Date recapitalized, converted into or exchanged for different stock or securities of
the Company, such other stock or securities.

     “Company” means Thermadyne Holdings, Inc. a Delaware corporation, or any successor thereto.

     “Deferral Date” means the date Fees would otherwise have been paid to the Participant.

     “Deferral Election” means a written election to defer Fees under the Plan.

     “Director” means any individual who is a member of the Board.

     “Fair Market Value” of a share of Common Stock means on a given date (a) if the principal
market for the Common Stock is the Nasdaq stock market, a national securities exchange or other
recognized national market or service reporting sales, the mean between the highest and lowest
reported sale prices of a share of Common Stock on the date of the determination on the principal
market on which the Common Stock is then listed or admitted to trading, (b) if the Common Stock is
not listed on the Nasdaq stock market, a national securities exchange or other recognized national
market or service reporting sales, the mean between the closing high bid and low asked prices of a
share of Common Stock on the date of the determination as reported by the system then regarded as
the most reliable source of such quotations, (c) if the Common Stock is listed on a domestic stock
exchange or market or quoted in a domestic market or service, but there are no reported sales or
quotations, as the case may be, on the given date, the value determined pursuant to (a) or (b)
above using the reported sale prices or quotations on the last previous day on which so reported or
(d) if none of the foregoing clauses apply, the fair market value of a share of Common Stock as
determined in good faith by the Board and stated in writing in a notice delivered to the holders of
the Common Stock involved.

     “Fees” means all or part of any retainer or meeting fees payable in cash to a Non-employee
Director in his or her capacity as a Director. Fees shall not include any expenses paid directly or
through reimbursement.

 

 

     “Non-employee Director” means a Director who is not an employee of the Company or any of its
subsidiaries or affiliates. For purposes of the Plan, an employee is an individual whose wages are
subject to withholding of federal income tax under Section 3401 of the Internal Revenue Code of
1986, as amended.

     “Participant” means a Non-employee Director who defers Fees under ARTICLE V of the Plan.

     “Plan” means this Thermadyne Holdings Corporation Non-Employee Directors’ Deferred Fee Plan.

     “Secretary” means the Secretary or any Assistant Secretary of the Company.

     “Shares” means shares of the Common Stock.

     “Stock Units” means the credits to a Participant’s Stock Unit Account under ARTICLE V of the
Plan.

     “Stock Unit Account” means the bookkeeping account established by the Company pursuant to
Section 5.4.

     “Termination of Service” means termination of service as a Director for any reason.

8exv10w36

Exhibit
10.36

THERMADYNE HOLDINGS CORPORATION

NON-EMPLOYEE DIRECTOR’S 
STOCK
OPTION AGREEMENT

SECTION 1. GRANT OF OPTION.

(a) OPTION. On the terms and conditions set forth in this Agreement and each Notice of Stock Option
Grant referencing this Agreement (the “Notice”), the Company grants to the Director identified in
such Notice (hereinafter, the “Optionee”) on the Date of Grant an option (each, an “Option”) to
purchase at the Exercise Price a number of shares of Common Stock, all as set forth in the Notice.
Each such Notice, together with this referenced Agreement, shall be a separate Option governed by
the terms of this Agreement.

(b) DEFINED TERMS. Capitalized terms are defined in Section 9 of this Agreement.

(c) SCOPE OF THIS AGREEMENT. This Agreement shall apply to the Option referenced in each Notice and
to the shares of Common Stock acquired upon the exercise of such Option.

SECTION 2. RIGHT TO EXERCISE.

Subject to the conditions set forth in this Agreement, all or part of an Option may be exercised
prior to its expiration at the time or times set forth in the Notice.

SECTION 3. TRANSFER OR ASSIGNMENT OF OPTION.

(a) GENERALLY. An Option shall be exercisable during the Optionee’s lifetime only by the Optionee.
Except as otherwise provided in subsection (b) below, the Option and the rights and privileges
conferred hereby may not be sold, pledged or otherwise transferred (whether by operation of law or
otherwise) other than by will or the laws of descent and distribution and shall not be subject to
sale under execution, attachment, levy or similar process.

(b) PERMITTED TRANSFERS. The Optionee shall be permitted to transfer the Option, in connection with
his or her estate plan, to the Optionee’s spouse, siblings, parents, children and grandchildren or
trusts for the benefit of such persons or partnerships, corporations, limited liability companies
or other entities owned solely by such persons, including trusts for such persons.

SECTION 4. EXERCISE PROCEDURES.

(a) NOTICE OF EXERCISE. The Optionee or the Optionee’s representative may exercise the Option by
giving written notice to the Company specifying the election to exercise the Option, the number of
shares of Common Stock for which it is being exercised and the Exercise Price and aggregate
Purchase Price. Exhibit A is an example of a “Notice of Exercise”. The Notice of Exercise shall be
signed by the person exercising the Option. In the event that the Option is being exercised by the
Optionee’s representative, the notice shall be accompanied by proof

 

 

(satisfactory to the Company) of the representative’s right to exercise the Option. The Optionee or
the Optionee’s representative shall deliver to the Company, at the time of giving the notice,
payment for the full amount of the Purchase Price.

(b) ISSUANCE OF COMMON STOCK. After receiving a proper notice of exercise, the Company shall
cause to be issued a certificate or certificates for the shares of Common Stock as to which the
Option has been exercised, registered in the name of the person exercising the Option (or in
the names of such person and his or her spouse as community property or as joint tenants with
right of survivorship).

(c) TAX OBLIGATIONS. The Company shall not be required to issue shares of Common Stock upon the
exercise of the Option unless the Optionee shall first pay to the Company such amount, if any, as
may be requested by the Company to satisfy any obligation of the Company to withhold federal,
state, local or foreign income or other taxes relating to the exercise.

(d) SECURITIES REGISTRATION. The Company shall not be obligated to deliver any shares of Common
Stock hereunder until (i) such shares have been listed on each securities exchange or national
market system on which the Common Stock may then be listed and (ii) all applicable federal and
state securities laws applicable to such issuance have been complied with; provided, however, that
the Company shall use all reasonable efforts to effect any such listing and compliance.

SECTION 5. PAYMENT FOR SHARES OF COMMON STOCK.

The Purchase Price shall be paid in cash or by check.

SECTION 6. TERM AND EXPIRATION.

(a) BASIC TERM. Subject to earlier termination in accordance with subsection (b) below, the
exercise period of the Option shall expire on the expiration date set forth in the Notice.

(b) TERMINATION OF SERVICE. If the Optionee’s ceases to serve on the Board for any reason, then the
exercise period for the Option shall expire on the earliest of the following occasions (or such
later date as the Board may determine):

(i) The expiration date determined pursuant to subsection (a) above; or

(ii) The later of (x) the date the Optionee ceases to be a member of the Board and (y) if such
membership terminates as a result of the death of the Optionee, the date twelve (12) months after
the Optionee’s death.

The Optionee (or in the case of the Optionee’s death, the Optionee’s representative) may exercise
all or part of the Option at any time before its expiration under the preceding sentence, but only
to the extent that the Option had become exercisable for vested shares of Common Stock on or before
the date the Optionee ceased to serve on the Board. When the Optionee’s Board service terminates,
the Option shall expire immediately with respect to the number of shares of Common Stock for which
the Option is not yet vested.

2

 

SECTION 7. ADJUSTMENT OF SHARES OF COMMON STOCK.

(a) ADJUSTMENT GENERALLY. If there shall be any change in the Common Stock of the Company, through
merger, consolidation, reorganization, recapitalization, stock dividend, stock split, reverse stock
split, split up, spin-off, combination of shares of Common Stock, exchange of shares of Common
Stock, dividend in kind or other like change in capital structure or distribution (other than
normal cash dividends) to stockholders of the Company, an adjustment shall be made to the Option so
that the Option shall thereafter be exercisable for such securities, cash and/or other property as
would have been received in respect of the Common Stock subject to the Option had such Option been
exercised in full immediately prior to such change or distribution, and such an adjustment shall be
made successively each time any such change shall occur.

(b) NO FRACTIONAL SHARES. If a fraction of a share of Common Stock would otherwise result from any
adjustment pursuant to subsection (a) above, the adjusted share amount shall be reduced to the next
lower whole number.

SECTION 8. MISCELLANEOUS PROVISIONS.

(a) RIGHTS AS A STOCKHOLDER. Neither the Optionee nor the Optionee’s representative shall have any
rights as a stockholder with respect to any shares of Common Stock subject to the Option until the
Optionee or the Optionee’s representative becomes entitled to receive such shares of Common Stock
by (i) filing a Notice of Exercise and (ii) paying the Purchase Price as provided in this
Agreement.

(b) NO RIGHT TO RE-ELECTION. Nothing in the Notice or this Agreement shall be construed as giving
any Director any right to be retained or re-elected as a member of the Board.

(c) NOTIFICATION. Any notification required by the terms of this Agreement shall be given in
writing and shall be deemed effective upon personal delivery or upon deposit with the United States
Postal Service, by registered or certified mail, with postage and fees prepaid, A notice shall be
addressed to the Company at its principal executive office and to the Optionee at the address that
he or she most recently provided to the Company.

(d) ENTIRE AGREEMENT. The Notice and this Agreement constitute the entire contract between the
parties hereto with regard to the subject matter hereof. They supersede any other agreements,
representations or understandings (whether oral or written and whether express or implied) which
relate to the subject matter hereof.

(e) WAIVER. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver
of any other or subsequent breach or condition whether of like or different nature.

(f) SUCCESSORS AND ASSIGNS. The provisions of this Agreement shall inure to the benefit of, and be
binding upon, the Company and its successors and assigns and upon the Optionee, the Optionee’s
assigns and the legal representatives, heirs and legatees of the Optionee’s estate, whether or not
any such person shall have become a party to this Agreement and have agreed in writing to be joined
herein and be bound by the terms hereof.

3

 

(g) CHOICE OF LAW. This Agreement shall be governed by, and construed in accordance with, the laws
of the State of Delaware as such laws are applied to contracts entered into and performed in such
State.

SECTION 9. DEFINITIONS.

(a) “AGREEMENT” shall mean this Stock Option Agreement.

(b)
“BOARD” shall mean the Board of Directors of the Company, as constituted from time to time.

(c) “CHANGE IN CONTROL” shall be deemed to have occurred upon any of the following events:

(i) Any person (as such term is used in Section 13(d) of the Exchange Act) becomes the “beneficial
owner” (as determined pursuant to Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing more than fifty percent (50%) of the combined voting power
of the Company’s then outstanding securities; or

(ii) During any period of two (2) consecutive years (not including any period prior to the
execution of this Agreement), individuals who at the beginning of such period constitute the
members of the Board, and any new director whose election to the Board or nomination for election
to the Board by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of
the directors then still in office who either were directors at the beginning of the period or
whose election or nomination for election was previously so approved, cease for any reason to
constitute a majority of the Board; or

(iii) The Company shall merge with or consolidate into any other corporation, other than a merger
or consolidation which would result in the holders of the voting securities of the Company
outstanding immediately prior thereto holding immediately thereafter securities representing more
than fifty percent (50%) of the combined voting power of the voting securities of the Company or
such surviving entity outstanding immediately after such merger or consolidation; or

(iv) The stockholders of the Company approve and effect a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or substantially all
of the Company’s assets.

(d) “CODE” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the
regulations promulgated thereunder.

(e) “COMMON STOCK” shall mean the common stock of the Company, par value $.01.

(f) “COMPANY” shall mean Thermadyne Holdings Corporation, a Delaware corporation, and any successor
thereto.

4

 

(g) “DATE OF GRANT” shall mean the date specified in the Notice, which date shall be the later of
(i) the date on which the Board of
Directors resolved to grant the Option or (ii) the first day of the Optionee’s service as a member
of the Board.

(h) “DIRECTOR” shall mean a member of the Board who is not (i) an Employee or
(ii) a beneficial owner (as determined in accordance with Rule 13d-3 under the Exchange Act) of ten
percent or more of the Common Stock or
an affiliate (as defined in Rule 12b-2 under the Exchange Act) of such beneficial owner, in each
case as of the Date of Grant.

(i) “ELECTION” shall mean the election described in Section 4(c) hereof.

(j) “EMPLOYEE” shall mean any individual who is a common-law employee of the Company, a Parent or a
Subsidiary.

(k) “EXCHANGE ACT” shall mean the Securities Exchange Act of 1934, as amended.

(l) “EXERCISE PRICE” shall mean the amount for which one share of Common Stock may be
purchased upon exercise of an Option, as specified in the Notice.

(m) “NOTICE” shall have the meaning set forth in Section 1(a) of this Agreement.

(n) “OPTION” shall have the meaning set forth in Section 1(a) of this Agreement.

(o) “OPTIONEE” shall mean the Director named in the Notice.

(p) “PARENT” shall mean a “parent corporation” as defined in Section 424(e) of the Code.

(q) “PURCHASE PRICE” shall mean the Exercise Price multiplied by the number of shares of
Common Stock with respect to which this option is being exercised.

(r) “SUBSIDIARY” shall mean a “subsidiary corporation” as defined in Section 424(f) of the Code.

5

 

EXHIBIT A

SAMPLE NOTICE OF EXERCISE

Thermadyne Holdings
Corporation
 16052 Swingley
Ridge Road, Suite 300 
St.
Louis, Missouri 63017 
Attn:
Corporate Secretary

To the Corporate Secretary:

I
hereby exercise my stock option granted to me under the Notice dated                      and the related Stock Option
Agreement and notify you of my desire to purchase the shares of Common Stock that have been offered pursuant to
the Agreement as described below.

I shall pay for the shares of Common Stock by delivery of a check payable to Thermadyne Holdings
Corporation (the “Company”) in the amount described below in full payment for such shares of Common
Stock.

This
notice of exercise is delivered this
                     day of                                          (month)                     
(year).

	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	No. shares of Common	 	 	 	 	 	 
	Stock to be Acquired	 	Type of Option	 	Exercise Price	 	Total Purchase Price
	 

	 	Director Stock Option	 	 	 	 

Very truly yours,

	 	 	 	 	 
	 

	 	 

Signature of Optionee
	 	 
	 
	 	 	 	 
	 

	 	Optionee’s Name and Mailing Address	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	Optionee’s Social Security Number

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}]]