Document:

exv10w26

Exhibit 10.26

AMENDMENT REGARDING IRC § 409A

TO

EXECUTIVE EMPLOYMENT AGREEMENT

The Executive Employment Agreement (“Agreement”) entered into on January 28, 2004 by and among
Thermadyne Holdings Corporation (“Holdings”), a Delaware corporation, and any and all the wholly
owned subsidiaries of Holdings (collectively, “Employers”), and Paul Melnuk (“Employee”), is hereby
amended as follows, effective as of January 1, 2005, such that, consistent with the intent of the
parties, the Agreement will comply with relevant provisions of Section 409A of the Internal Revenue
Code of 1986, as amended:

1. Capitalized terms used in this Amendment without definition have the meanings set forth in
the Agreement.

2. Notwithstanding any term or condition in the Agreement to the contrary:

If the Employee is a “specified employee” (within the meaning of Section 409(a)(2)(B)(i) of
the Internal Revenue Code of 1986, as amended, (“Code”)) at the time of his termination of
employment with the Employers and is entitled to payments under the Agreement which are on
account of “involuntary separation of service” within the meaning of Treasury Regulation
Section 1.409A-1(n), amounts payable to the Employee, notwithstanding anything in this
Agreement to the contrary, during the first six (6) consecutive months immediately following
the month in which such termination of employment occurs shall be suspended after the total
of such payments equal the lesser of the amount specified under Treasury Regulation
1.409A-1(a)(9)(iii)(A)(l) or (2). If the Employee is such a “specified employee” at the time
of his termination of employment with the Employers and is entitled to payments under the
Agreement which are not on account of such “involuntary separation of service”, amounts
payable to the Employee, notwithstanding anything in this Agreement to the contrary, during
the first six (6) consecutive months immediately following the month in which such
termination of employment occurs shall be suspended. To the extent such payments payable
during such six (6) month period are suspended as provided herein, such amounts shall be
paid in a single sum as of the first regular payroll date of the applicable entity of
Holdings, immediately following the last day of the sixth consecutive month immediately
following the month in which such termination of employment occurs, along with interest on
such suspended amounts at the rate of twelve percent (12%) per annum from the date such
amounts would have otherwise been paid but to the date they are paid. Payments otherwise
payable after such six (6) month period shall be made as otherwise provided in this
Agreement.

3. Notwithstanding any inconsistent provision in the Agreement, the Employee’s expense account
reports must be submitted no later than January 31 immediately following the calendar year in
which his termination of employment with the Employers occurs and such reimbursements must be
paid no later than March 15 immediately following the calendar year in which such termination
of employment occurs.

 

 

4. To the extent that (a) the Agreement affords Employee the right to elect the timing for
distribution of payments for termination of employment described herein and (b) an election
is required under Section 409(a) of the Code and applicable regulations to avoid penalties or
excise taxes, Employee hereby elects payment in a lump sum, in accordance with the
applicable law and/or regulations.

5. This Amendment may be executed in multiple counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of this 31st
day of December, 2008.

	 	 	 
	EMPLOYEE:
	 	 
	 
	 	 
	/s/ Paul Melnuk
 

Name: Paul Melnuk

	 	 

	 	 	 	 	 
	EMPLOYERS:	 	 
	 
	 	 	 	 
	Thermadyne Holdings Corporation	 	 
	(on behalf of itself and all wholly owned subsidiaries)	 	 
	 
	 	 	 	 
	By:
	 	/s/ Cary A. Levitt	 	 
	 
	 	 
	 
	 	Cary A. Levitt	 	 
	Title:

	 	Vice President & General Counsel	 	 

THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH

MAY BE ENFORCED BY THE PARTIES

Page 2 of 2exv10w27

Exhibit 10.27

AMENDMENT REGARDING IRC § 409A

TO

EXECUTIVE EMPLOYMENT AGREEMENT

The Executive Employment Agreement (“Agreement”) entered into on January 1, 2004 by and among
Thermadyne Holdings Corporation (“Holdings”), a Delaware corporation, and any and all the wholly
owned subsidiaries of Holdings (collectively, “Employers”), and John Boisvert (“Employee”), is
hereby amended as follows, effective as of January 1, 2005, such that, consistent with the intent
of the parties, the Agreement will comply with relevant provisions of Section 409A of the Internal
Revenue Code of 1986, as amended:

1. Capitalized terms used in this Amendment without definition have the meanings set forth in
the Agreement.

2. Notwithstanding any term or condition in the Agreement to the contrary:

If the Employee is a “specified employee” (within the meaning of Section 409(a)(2)(B)(i) of the
Internal Revenue Code of 1986, as amended, (“Code”)) at the time of his termination of
employment with the Employers and is entitled to payments under the Agreement which are on
account of “involuntary separation of service” within the meaning of Treasury Regulation
Section 1.409A-1(n), amounts payable to the Employee, notwithstanding anything in this
Agreement to the contrary, during the first six (6) consecutive months immediately following
the month in which such termination of employment occurs shall be suspended after the total of
such payments equal the lesser of the amount specified under Treasury Regulation
1.409A-1(a)(9)(iii)(A)(1) or (2). If the Employee is such a “specified employee” at the time of
his termination of employment with the Employers and is entitled to payments under the
Agreement which are not on account of such “involuntary separation of service”, amounts payable
to the Employee, notwithstanding anything in this Agreement to the contrary, during the first
six (6) consecutive months immediately following the month in which such termination of
employment occurs shall be suspended. To the extent such payments payable during such six (6)
month period are suspended as provided herein, such amounts shall be paid in a single sum as of
the first regular payroll date of the applicable entity of Holdings, immediately following the
last day of the sixth consecutive month immediately following the month in which such
termination of employment occurs, along with interest on such suspended amounts at the rate of
twelve percent (12%) per annum from the date such amounts would have otherwise been paid but to
the date they are paid. Payments otherwise payable after such six (6) month period shall be
made as otherwise provided in this Agreement.

3. Notwithstanding any inconsistent provision in the Agreement, the Employee’s expense account
reports must be submitted no later than January 31 immediately following the calendar year in
which his termination of employment with the Employers occurs and such reimbursements must be
paid no later than March 15 immediately following the calendar year in which such termination
of employment occurs.

 

 

4. To the extent that (a) the Agreement affords Employee the right to elect the timing for
distribution of payments for termination of employment described
herein and (b) an election
is required under Section 409(a) of the Code and applicable regulations to avoid penalties or
excise taxes, Employee hereby elects payment in a lump sum, in accordance with the
applicable law and/or regulations.

5. This Amendment may be executed in multiple counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument.

          IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment
as of this 31st day of December, 2008.

	 	 	 
	EMPLOYEE:
	 	 
	 
	 	 
	/s/ John Boisvert
 

Name: John Boisvert

	 	 

	 	 	 	 	 
	EMPLOYERS:	 	 
	 
	 	 	 	 
	Thermadyne Holdings Corporation	 	 
	(on behalf of itself and all wholly owned subsidiaries)	 	 
	 
	 	 	 	 
	By:
	 	/s/ Cary A. Levitt	 	 
	 
	 	 
	 
	 	Cary A. Levitt	 	 
	Title:

	 	Vice President & General Counsel	 	 

THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH

MAY BE ENFORCED BY THE PARTIES

Page 2 of 2EX-10.28

Exhibit 10.28

AMENDMENT REGARDING IRC § 409A

TO

EXECUTIVE EMPLOYMENT AGREEMENT

The Executive Employment Agreement (“Agreement”) entered into on June 2003, by and among
Thermadyne Holdings Corporation (“Holdings”), a Delaware corporation, and any and all the wholly
owned subsidiaries of Holdings (collectively, “Employers”), and Terry Downes (“Employee”), is
hereby amended as follows, effective the later of January 1, 2005 or the date of the Agreement, such
that, consistent with the intent of the parties, the Agreement will comply with relevant provisions
of Section 409A of the Internal Revenue Code of 1986, as amended:

1. Capitalized terms used in this Amendment without definition have the meanings set forth in
the Agreement.

2. Notwithstanding any term or condition in the Agreement to the contrary:

If the Employee is a “specified employee” (within the meaning of Section 409(a)(2)(B)(i) of
the Internal Revenue Code of 1986, as amended, (“Code”)) at the time of his termination of
employment with the Employers and is entitled to payments under the Agreement which are on
account of “involuntary separation of service” within the meaning of Treasury Regulation
Section 1.409A-1 (n), amounts payable to the Employee, notwithstanding anything in this
Agreement to the contrary, during the first six (6) consecutive months immediately following
the month in which such termination of employment occurs shall be suspended after the total
of such payments equal the lesser of the amount specified under Treasury Regulation
1.409A-l(a)(9)(iii)(A)(l) or (2). If the Employee is such a “specified employee” at the time
of his termination of employment with the Employers and is entitled to payments under the
Agreement which are not on account of such “involuntary separation of service”, amounts
payable to the Employee, notwithstanding anything in this Agreement to the contrary, during
the first six (6) consecutive months immediately following the month in which such
termination of employment occurs shall be suspended. To the extent such payments payable
during such six (6) month period are suspended as provided herein, such amounts shall be
paid in a single sum as of the first regular payroll date of the applicable entity of
Holdings, immediately following the last day of the sixth consecutive month immediately
following the month in which such termination of employment occurs, along with interest on
such suspended amounts at the rate of twelve percent (12%) per annum from the date such
amounts would have otherwise been paid but to the date they are paid. Payments otherwise
payable after such six (6) month period shall be made as otherwise provided in this
Agreement.

3. Notwithstanding any inconsistent provision in the Agreement, the Employee’s expense account
reports must be submitted no later than January 31 immediately following the calendar year in
which his termination of employment with the Employers occurs and such reimbursements must be
paid no later than March 15 immediately following the calendar year in which such termination
of employment occurs.

 

 

4.
To the extent that (a) the Agreement affords Employee the right to elect the timing for
distribution of payments for termination of employment described herein and (b) an election is
required under Section 409(a) of the Code and applicable regulations to avoid penalties or
excise taxes, Employee hereby elects payment in a lump sum, in accordance with the applicable
law and/or regulations.

5. This Amendment may be executed in multiple counterparts, .each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of this 31st
day of December, 2008.

	 	 	 
	EMPLOYEE:
	 	 
	 
	 	 
	/s/ Terry Downes
 

Name: Terry Downes
	 	 
	 
	 	 
	EMPLOYERS:
	 	 
	 
	 	 
	Thermadyne Holdings Corporation
	 	 
	(on behalf of itself and all wholly owned subsidiaries)
	 	 

	 	 	 	 	 
	By:
	 	/s/ Cary A. Levitt	 	 
	 
	 	 
	 
	 	Cary A. Levitt	 	 
	Title:
	 	Vice President & General Counsel	 	 

THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH

MAY BE ENFORCED BY THE PARTIES

Page 2 of 2

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