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Exhibit 10.1

AMENDMENT NO. 1
TO THE 
LINCOLN ELECTRIC HOLDINGS, INC.
2005 DEFERRED COMPENSATION PLAN FOR EXECUTIVES
(SECOND AMENDMENT and RESTATEMENT EFFECTIVE AS OF JANUARY 1, 2018)

    Lincoln Electric Holdings, Inc. hereby adopts this Amendment No. 1 to the Lincoln Electric Holdings, Inc. 2005 Deferred Compensation Plan for Executives (Second Amendment and Restatement Effective as of January 1, 2018) (the “Plan”), effective as of August 1, 2020.
    Section 5.2 of the Plan is hereby amended in its entirety to read as follows:
“Section 5.2.  Security For Benefits.  Notwithstanding the provisions of Section 5.1, nothing in this Plan shall preclude the Corporation from setting aside amounts in trust (the “Trust”) pursuant to one (1) or more trust agreements between a trustee and the Corporation.  However, no Participant or Beneficiary shall have any secured interest or claim in any assets or property of the Corporation or the Trust and all funds contained in the Trust shall remain subject to the claims of the Corporation’s general creditors.  In furtherance of the foregoing, in the event of a Potential Change in Control or a Change in Control (as such terms are defined in the Lincoln Electric Holdings, Inc. Rabbi Trust Agreement by and between the Corporation and Wells Fargo Bank, National Association (or its successor trustee) effective as of August 1, 2020 (or any successor trust agreement to the foregoing agreement) (the “Trust Agreement”)) or upon any other event specified in the Trust Agreement, the Corporation shall contribute (or cause to be contributed) to the Trust established thereunder assets in the amounts, and in accordance with the terms and conditions, as set forth in the Trust Agreement, provided that any such contribution would not result in a transfer of property within the meaning of Section 83 of the Code as contemplated by Sections 409A(b)(2) or (3) of the Code.”

        IN WITNESS WHEREOF, Lincoln Electric Holdings, Inc. has caused this Amendment No. 1 to be executed on this 21st day of July, 2020.

LINCOLN ELECTRIC HOLDINGS, INC.

By:  /s/ Michele R. Kuhrt    

Name:   Michele R. Kuhrt

Title:     Executive Vice President, Chief Human Resources Officer

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Exhibit 10.2

AMENDMENT NO. 1
TO THE 
LINCOLN ELECTRIC HOLDINGS, INC.
NON-EMPLOYEE DIRECTORS’
DEFERRED COMPENSATION PLAN 
(AS AMENDED AND RESTATED EFFECTIVE AS OF JANUARY 1, 2019)

    Lincoln Electric Holdings, Inc. hereby adopts this Amendment No. 1 to the Lincoln Electric Holdings, Inc. Non-Employee Directors’ Deferred Compensation Plan (As Amended and Restated Effective as of January 1, 2019) (the “Plan”), effective as of August 1, 2020.
    Section 5.2 of the Plan is hereby amended in its entirety to read as follows:
“Section 5.2.  Security For Benefits.  Notwithstanding the provisions of Section 5.1, nothing in this Plan shall preclude the Corporation from setting aside amounts in trust (the “Trust”) pursuant to one (1) or more trust agreements between a trustee and the Corporation.  However, no Director or Beneficiary shall have any secured interest or claim in any assets or property of the Corporation or the Trust and all funds contained in the Trust shall remain subject to the claims of the Corporation’s general creditors.  In furtherance of the foregoing, in the event of a Potential Change in Control or a Change in Control (as such terms are defined in the Lincoln Electric Holdings, Inc. Rabbi Trust Agreement by and between the Corporation and Wells Fargo Bank, National Association (or its successor trustee) effective as of August 1, 2020 (or any successor trust agreement to the foregoing agreement) (the “Trust Agreement”)) or upon any other event specified in the Trust Agreement, the Corporation shall contribute (or cause to be contributed) to the Trust established thereunder assets in the amounts, and in accordance with the terms and conditions, as set forth in the Trust Agreement, provided that any such contribution would not result in a transfer of property within the meaning of Section 83 of the Code as contemplated by Sections 409A(b)(2) or (3) of the Code.”

        IN WITNESS WHEREOF, Lincoln Electric Holdings, Inc. has caused this Amendment No. 1 to be executed on this 21st day of July, 2020.

LINCOLN ELECTRIC HOLDINGS, INC.

By: /s/ Michele R. Kuhrt    

Name:   Michele R. Kuhrt

Title:     Executive Vice President, Chief Human Resources Officer

    -2-Document

Exhibit 10.3

AMENDMENT NO. 1
TO THE 
LINCOLN ELECTRIC COMPANY
RESTORATION PLAN 
(EFFECTIVE JANUARY 1, 2017)

    The Lincoln Electric Company hereby adopts this Amendment No. 1 to the Lincoln Electric Company Restoration Plan (Effective January 1, 2017) (the “Plan”), effective as of August 1, 2020.
Section 8.2 of the Plan is hereby amended in its entirety to read as follows:
“Section 8.2. Limitation on Rights of Participants and Beneficiaries - No Lien.  The Plan is designed to be an unfunded, nonqualified plan.  Any amounts payable under the Plan shall be paid out of the general assets of the Company or an Employer.  Nothing contained herein shall be deemed to create a trust or lien in favor of any Participant or Beneficiary on any assets of the Company, an Employer or any Controlled Group Member.  The Company or an Employer shall have no obligation to purchase any assets that do not remain subject to the claims of the creditors of the Company or an Employer for use in connection with the Plan. No Participant or Beneficiary or any other person shall have any preferred claim on, or any beneficial ownership interest in, any assets of the Company, an Employer or any Controlled Group Member prior to the time that such assets are paid to the Participant or Beneficiary as provided herein.  Each Participant and Beneficiary shall have the status of a general unsecured creditor of the Company and any Employer.  The Plan constitutes a mere promise by the Company or an Employer to make benefit payments in the future.  Nothing contained in the Plan shall constitute a guaranty by the Company, an Employer or any other entity that the assets of the Company, any Employer or the Controlled Group Members will be sufficient to pay any benefit hereunder.  It is the intention of the Company and each Employer that this Plan be unfunded for purposes of the Code and for purposes of Title I of ERISA.  Notwithstanding the foregoing, nothing in this Plan shall preclude the Company or Holdings from setting aside amounts in trust (the “Trust”) pursuant to one (1) or more trust agreements between a trustee and the Company or Holdings, as applicable.  However, no Participant or Beneficiary shall have any secured interest or claim in any assets or property of the Company, Holdings, an Employer, or the Trust, and all funds contained in the Trust shall remain subject to the claims of general creditors of the Company or Holdings, as applicable.  In furtherance of the foregoing, in the event of a Potential Change in Control or a Change in Control (as such terms are defined in the Lincoln Electric Holdings, Inc. Rabbi Trust Agreement by and between Holdings and Wells Fargo Bank, National Association (or its successor trustee) effective as of August 1, 2020 (or any successor trust agreement to the foregoing agreement) (the “Trust Agreement”)) or upon any other event specified in the Trust Agreement, Holdings shall contribute (or cause to be contributed) to the Trust established thereunder assets in the amounts, and in accordance with the terms and conditions, as set forth in the Trust Agreement, provided that any such contribution would not result in a transfer of property within the meaning of Section 83 of the Code as contemplated by Sections 409A(b)(2) or (3) of the Code.”

        IN WITNESS WHEREOF, The Lincoln Electric Company has caused this Amendment No. 1 to be executed on this 21st day of July, 2020.
    -2-    

THE LINCOLN ELECTRIC COMPANY

By: /s/ Michele R. Kuhrt    

Name:   Michele R. Kuhrt

Title:     Executive Vice President, Chief Human Resources Officer

    
    -3-Document

Exhibit 10.4

AMENDMENT NO. 2
TO THE 
LINCOLN ELECTRIC HOLDINGS, INC.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
(AS AMENDED AND RESTATED AS OF DECEMBER 31, 2008)

    Lincoln Electric Holdings, Inc. hereby adopts this Amendment No. 2 to the Lincoln Electric Holdings, Inc. Supplemental Executive Retirement Plan (As Amended and Restated as of December 31, 2008), as amended (the “Plan”), effective as of August 1, 2020.
    Article XI of the Plan is hereby amended in its entirety to read as follows:
“ARTICLE XI
FUNDING

The entire cost of this Plan shall be paid from the general assets of the Employer.  No liability for the payment of benefits under the Plan shall be imposed upon any officer, trustee, employee, or agent of an Employer.  Notwithstanding the foregoing, nothing in this Plan shall preclude the Company from setting aside amounts in trust (the “Trust”) pursuant to one (1) or more trust agreements between a trustee and the Company.  However, no Participant, Spouse, or beneficiary shall have any secured interest or claim in any assets or property of the Company or the Trust, and all funds contained in the Trust shall remain subject to the claims of the Company’s general creditors.  In furtherance of the foregoing, in the event of a Potential Change in Control or a Change in Control (as such terms are defined in the Lincoln Electric Holdings, Inc. Rabbi Trust Agreement by and between the Company and Wells Fargo Bank, National Association (or its successor trustee) effective as of August 1, 2020 (or any successor trust agreement to the foregoing agreement) (the “Trust Agreement”)) or upon any other event specified in the Trust Agreement, the Company shall contribute (or cause to be contributed) to the Trust established thereunder assets in the amounts, and in accordance with the terms and conditions, as set forth in the Trust Agreement, provided that any such contribution would not result in a transfer of property within the meaning of Section 83 of the Code as contemplated by Sections 409A(b)(2) or (3) of the Code.”

        IN WITNESS WHEREOF, Lincoln Electric Holdings, Inc. has caused this Amendment No. 2 to be executed on this 21st day of July, 2020.

LINCOLN ELECTRIC HOLDINGS, INC.

By:  /s/ Michele R. Kuhrt    

Name:   Michele R. Kuhrt

Title:     Executive Vice President, Chief Human Resources Officer

    -2-

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