Document:

Exhibit

Exhibit 10.1

AMENDMENT NO. 1
TO
THE LINCOLN ELECTRIC COMPANY
EMPLOYEE SAVINGS PLAN
(AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2019)

The Lincoln Electric Company, an Ohio corporation, hereby adopts this Amendment No. 1 to The Lincoln Electric Company Employee Savings Plan (As Amended and Restated Effective January 1, 2019) (the “Plan”), effective as of July 1, 2019.
		
	I.
	

Section 1.1(6) of the Plan is hereby amended in its entirety to read as follows:
“(6)    Before-Tax Contributions:  The contributions made pursuant to Section 3.1 of the Plan (excluding Roth Contributions), elective deferral contributions made to the Weartech Plan on behalf of Former Weartech Plan Participants and elective deferral contributions made to the Harris Plan on behalf of Former Harris Plan Participants.  Except as otherwise specifically provided in the Plan, the term “Before-Tax Contributions” when used herein shall include all Catch-Up Before-Tax Contributions, as defined in Section 3.11.”
		
	II.
	

Section 1.1(19) of the Plan is hereby amended in its entirety to read as follows:
“(19)    Eligible Employee:  An Employee who is eligible to have his Employer make Before-Tax Contributions and Roth Contributions for him to the Trust as provided in Article II of the Plan.”
		
	III.
	

Section 1.1(20) of the Plan is hereby amended in its entirety to read as follows:
“(20)    Eligible Rollover Distribution:  Any distribution of all or any portion of the balance to the credit of the distributee, except (a) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee’s designated beneficiary, or for a specified period of ten years or more, (b) any distribution to the extent the distribution is required under section 401(a)(9) of the Code, (c) the portion of any distribution that consists of after-tax employee contributions (other than a distribution from a designated Roth account (as defined in section 402A of the Code)), (d) any distribution that is made upon hardship of the Employee and (e) such other amounts specified in Treasury regulations or Internal Revenue Service rulings, notices or announcements issued under section 402(c) of the Code.”
		
	IV.
	

The second sentence of Section 1.1(47) of the Plan is hereby amended in its entirety to read as follows:
“The applicable Matching Employer Contribution Percentage shall be applied as provided in Section 4.1 (or the Employer’s Instrument of Adoption) against Before-Tax Contributions and Roth Contributions made for a Plan Year that are not in excess of the percentage of Compensation specified in Section 4.1 or in the Employer’s Instrument of Adoption.”
		
	V.
	

Section 1.1(52) of the Plan is hereby amended in its entirety to read as follows:
“(52)    Non-ESOP Account: The Non-ESOP Account shall consist of the following amounts, plus allocated earnings thereto: (a) Before-Tax Contributions, Roth Contributions, Matching Employer Contributions, Qualified Nonelective Contributions, Nonelective Employer Contributions and Transitional Employer Contributions, in each case that are made for the current Plan Year and invested in the Holdings Stock Fund; (b) all contributions invested in any Investment Fund other than the Holdings Stock Fund and (c) solely to the extent designated in any applicable Instrument of Merger or similar document, amounts transferred to the Plan on behalf of a Member from another qualified plan pursuant to Section 3.10 hereof; provided that the Non-ESOP Account shall not include any portion of such contributions that are transferred to the Member’s ESOP Account pursuant to Section 5.6 of the Plan.  In furtherance of, but without limiting the foregoing, the Non-ESOP Holdings Stock Sub-Fund, which is intended to be a stock bonus plan as defined in Treasury Regulation Section 1.401-1(b)(1)(iii), is also part of the Non-ESOP Account.”
		
	VI.
	

Section 1.1 of the Plan is hereby amended by inserting the following new Section 1.1(61A) immediately following Section 1.1(61) thereof:
“(61A)       Roth Contributions:  The contributions made pursuant to Section 3.1 of the Plan which the Member has irrevocably designated as being contributed in lieu of all or a portion of the Before-Tax Contributions that the Member is otherwise eligible to make under the Plan, and which are treated by the Company as includible in the Member’s gross income pursuant to Section 402A of the Code at the time the Member would have received that amount in cash if the Member had not elected to make the contribution.  Except as otherwise specifically provided in the Plan, the term “Roth Contributions” when used herein shall include all Catch-Up Roth Contributions, as defined in Section 3.11.”

		
	VII.
	

Section 1.1 of the Plan is hereby amended by inserting the following new Section 1.1(61B) immediately following Section 1.1(61A) thereof:
“(61B)       Roth Rollover Contributions Sub-Account: The portion of a Member’s Rollover Contributions Sub-Account that holds any amount received as a Rollover Contribution on the Member’s behalf from a designated Roth account, as defined in Section 402A of the Code, plus allocated earnings thereto.”
		
	VIII.
	

Section 1.1(62) of the Plan is hereby amended in its entirety to read as follows:
“(62)    Salary Reduction Agreement:  An arrangement made under the Plan pursuant to which an Employee agrees to reduce, or to forego an increase in, his Compensation and his Employer agrees to contribute to the Trust the amount so reduced or foregone as a Before Tax Contribution and/or Roth Contribution.”
		
	IX.
	

Section 1.1(72)(a) of the Plan is hereby amended in its entirety to read as follows:
“(a) is derived from his Before-Tax Contributions, Roth Contributions, Rollover Contributions, Prior ESOP Contributions, Qualified Nonelective Contributions, Nonelective Employer Contributions and Transitional Employer Contributions and nonforfeitable at all times;”
		
	X.
	

Section 1.1(72)(b) of the Plan is hereby amended in its entirety to read as follows:
“(b)    is derived from Matching Employer Contributions and (i) in the case of a Member employed by the Company, Welding, Cutting, Tools & Accessories, LLC, Lincoln Electric Cutting Systems, Inc., Kaliburn, Inc., J.W. Harris Co., Inc., Smart Force, LLC, Vizient Manufacturing Solutions, Inc., Lincoln Global, Inc. and Baker Industries, Inc. (but in the case of Members employed by J.W. Harris Co., Inc., Smart Force, LLC or the Seal Seat Division of Lincoln Global, Inc., only with respect to Members who are Employees on or after August 1, 2017 or who were Covered Employees prior to August 1, 2017 under the provisions of the Plan then in effect) is 100% nonforfeitable at all times, or (ii) in the case of all other Members is (A) 0% nonforfeitable prior to the Member’s completion of three Years of Vesting Service and (B) 100% nonforfeitable on and after the Member’s completion of three Years of Vesting Service; and” 
		
	XI.
	

Section 2.1 of the Plan is hereby amended by inserting a new sentence at the end thereof to read as follows:
“Further, notwithstanding the preceding provisions of this Section, for purposes of becoming an Eligible Employee on July 1, 2019, the requirement of Subsection (2) of this Section shall be waived in the case of a Covered Employee who is employed by Baker Industries, Inc. on July 1, 2019.”  
		
	XII.
	

Section 2.2(1) of the Plan is hereby amended in its entirety to read as follows:
“(1)    Any Eligible Employee may enroll in the Plan for purposes of having his Employer make Before-Tax Contributions and/or Roth Contributions for him to the Trust on the Enrollment Date on which he is initially eligible or on any subsequent Enrollment Date by filing with the Administrative Committee at least 30 days (or such shorter period as the Committee shall determine) before such Date an enrollment form prescribed by the Committee, which form shall include (a) the desired effective date of the Eligible Employee’s enrollment in the Plan, (b) his agreement commencing on or after the effective date to have his Employer make Before-Tax Contributions and/or Roth Contributions for him to the Trust, (c) his authorization to his Employer to withhold from his Compensation payable on or after such effective date, any designated Before-Tax Contributions and/or Roth Contributions and to pay the same to the Trust, and (d) his direction that the Before-Tax Contributions, Roth Contributions and Employer Contributions, if any, made by or for him be invested (to the extent permitted under the Plan) in any one of the investment options permitted by Section 5.5.  Notwithstanding the preceding provisions of this Section, the terms and provisions of the Plan in effect prior to January 1, 2019 contained special membership rules for certain classes of Eligible Employees.”
		
	XIII.
	

The last sentence of Section 2.2(2) of the Plan is hereby amended in its entirety to read as follows:
“An Eligible Employee who is deemed to have enrolled pursuant to this Section 2.2(2) and Section 2.3 for purposes of having his Employer make Before-Tax Contributions from his Base Compensation may separately elect (but shall not be deemed to have elected) to enroll pursuant to Section 2.2(1) for purposes of having his Employer make Before-Tax Contributions and/or Roth Contributions from his Bonus Compensation.”
		
	XIV.
	

The last sentence of Section 2.4 of the Plan is hereby amended in its entirety to read as follows:
“An Employee shall cease to be a Member when he ceases to be an Eligible Employee, a Nonelective Contribution Participant, a Transitional Contribution Participant and a Matching Contribution Participant, provided, however, that if after he ceases to be an Eligible Employee, a Nonelective Contribution Participant, a Transitional Contribution Participant and a Matching Contribution Participant, an Account continues to be maintained for him, he shall (subject to Section 13.1) remain a Member for all purposes of the Plan other than for purposes of making, or having his Employer make Before-Tax, Roth, Rollover or Employer Contributions.”

		
	XV.
	

Section 2.5(1) of the Plan is hereby amended by inserting a new sentence at the end thereof to read as follows:
“Further, notwithstanding the preceding provisions of this Section, for purposes of becoming a Matching Contribution Participant on July 1, 2019, the requirements of Subsection (1)(b) of this Section shall be waived in the case of a Covered Employee employed by Baker Industries, Inc. on April 1, 2019.”
		
	XVI.
	

Section 2.6(1)(a) of the Plan is hereby amended in its entirety to read as follows:
“(a)    he is a Covered Employee who is employed by the Company, Welding, Cutting, Tools & Accessories, LLC, Lincoln Electric Cutting Systems, Inc., Kaliburn, Inc., J.W. Harris Co., Inc., Smart Force, LLC, Lincoln Global, Inc. and Baker Industries, Inc., and”
		
	XVII.
	

Section 2.6(1) of the Plan is hereby amended by inserting a new sentence at the end thereof to read as follows:
“Notwithstanding the preceding provisions of this Section, for purposes of becoming a Nonelective Contribution Participant on July 1, 2019, the requirements of Subsection (1)(b) of this Section shall be waived in the case of a Covered Employee employed by Baker Industries, Inc. on April 1, 2019.”
		
	XVIII.
	

Sections 2.8(1) and 2.9(1) of the Plan are hereby amended by deleting the term “Before-Tax Contributions” and replacing it with the phrase “Before-Tax Contributions and/or Roth Contributions” each place it appears therein.

		
	XIX.
	

The title of Article III of the Plan is hereby amended to read as follows:
“ARTICLE III - BEFORE-TAX, ROTH AND ROLLOVER CONTRIBUTIONS”

		
	XX.
	

Section 3.1 of the Plan is hereby amended in its entirety to read as follows:

“3.1   Amount of Contributions.  
(1)     Upon enrollment pursuant to Section 2.2(1), a Member shall agree pursuant to a Salary Reduction Agreement to have his Employer make Before-Tax Contributions and/or Roth Contributions for him to the Trust of a specified percentage of between 1% and 80% of his Compensation in 1% increments through equal percentage pay period reductions with respect to his Base Compensation and through payroll deduction with respect to his Bonus Compensation.  Unless otherwise provided pursuant to procedures established by the Administrative Committee for a specified group or groups of Members, the percentage elected by a Member pursuant to this Subsection shall apply to the Member’s Base and Bonus Compensation.  If the Administrative Committee establishes procedures that provide for a specified group of Members to make separate Before-Tax and Roth Contribution elections with respect to their Base Compensation and their Bonus Compensation, the Committee may permit such Members to elect to contribute a whole dollar amount, rather than a specified percentage, with respect to their Bonus Compensation.
(2)     Upon enrollment pursuant to Sections 2.2(2) and 2.3, a Member shall be deemed to have elected pursuant to an Automatic Salary Reduction Agreement to have his Employer make Before-Tax Contributions for him to the Trust in an amount equal to 4% of his Base Compensation through equal percentage pay period reductions.
(3)    If a Member’s Before-Tax Contributions or Roth Contributions must be reduced pursuant to Sections 3.5 through 3.8 or the requirements of applicable law, his Before-Tax Contributions and Roth Contributions as so reduced shall be the maximum percentage of his Compensation permitted by such Sections or law notwithstanding the foregoing provisions of this Section requiring that Before-Tax and Roth Contributions be made in specified increments of his Compensation.  In furtherance of the foregoing, and notwithstanding any provision of the Plan to the contrary, in the event a Member has elected to make both Before-Tax Contributions and Roth Contributions and it is determined that in a particular pay period the Member’s Before-Tax Contributions and Roth Contributions during a taxable year will reach the maximum amount applicable under Section 3.5(1) or any other maximum amount applicable under the Plan, the Member’s election with respect to Before-Tax Contributions will be applied first (up to such maximum amount) and, if applicable, the Member’s election with respect to Roth Contributions will be applied second (up to such maximum amount), subject to any alternative procedure as may be adopted by the Administrative Committee from time to time.”
		
	XXI.
	

Section 3.2 of the Plan is hereby amended in its entirety to read as follows:
“3.2    Payments to Trustee.  Before Tax Contributions and Roth Contributions shall be transmitted to the Trustee as soon as practicable, but in any event not later than the 15th business day of the month following the month in which such Contributions would otherwise have been paid to the Members.”    

		
	XXII.
	

Sections 3.3 and 3.4 of the Plan are hereby amended by deleting the term “Before-Tax Contributions” and replacing it with the phrase “Before-Tax Contributions and/or Roth Contributions” each place it appears therein.

		
	XXIII.
	

Sections 3.5, 3.6, 3.12, 4.1 and 4.11(2)(a) of the Plan are hereby amended by (i) deleting the term “Before-Tax Contributions” and replacing it with the phrase “Before-Tax Contributions and Roth Contributions” and (ii) deleting the term “Catch-Up Before-Tax Contributions” and replacing it with the term “Catch-Up Contributions,” each place they appear therein.

		
	XXIV.
	

Section 3.5(2) of the Plan is hereby amended by inserting the following new sentence at the end thereof:
“In the event both Before-Tax Contributions and Roth Contributions were made on behalf of a Member for the taxable year to which the excess relates, any excess Before-Tax Contributions will be returned to the Member first, subject to any alternative procedure as may be adopted by the Administrative Committee from time to time.”
		
	XXV.
	

Section 3.6(4) of the Plan is hereby amended by inserting the following new sentence at the end thereof:
“In the event both Before-Tax Contributions and Roth Contributions were made on behalf of a Member for the Plan Year in which the excess arose, any excess Before-Tax Contributions will be returned to the Member first, subject to any alternative procedure as may be adopted by the Administrative Committee from time to time.”
		
	XXVI.
	

The second sentence of Section 3.7(1) of the Plan is hereby amended in its entirety to read as follows:
“If two or more plans of the Controlled Group to which matching contributions, Employee after tax contributions, Roth Contributions or Before Tax Contributions (as defined in Section 3.5(1)) are made are treated as one plan for purposes of section 410(b) of the Code, such plans shall be treated as one plan for purposes of this Subsection (1); and if a Highly Compensated Eligible Employee participates in two or more plans of the Controlled Group to which such contributions are made, all such contributions shall be aggregated for purposes of this Subsection (1) and, in the event that such plans have different plan years, all such contributions made during the Plan Year under all such plans shall be aggregated.”
		
	XXVII.
	

The first sentence of Section 3.7(2) of the Plan is hereby amended in its entirety to read as follows:
“For the purposes of this Section, the contribution percentage for a specified group of Eligible Employees for a Plan Year shall be the average of the ratios (calculated separately for each Eligible Employee in such group) of (a) the sum of the Matching Employer Contributions and, at the election of an Employer, any Before-Tax Contributions, Roth Contributions or Qualified Nonelective Contributions paid under the Plan by or on behalf of each such Eligible Employee for such Plan Year and not taken into account for such Plan Year under Section 3.6(2), to (b) the Eligible Employee’s compensation (as defined in Section 3.6(2)) for such Plan Year.”
		
	XXVIII.
	

Section 3.8(1) of the Plan is hereby amended in its entirety to read as follows:
“(1)    In order to ensure that at least one of the actual deferral percentages specified in Section 3.6(1) and at least one of the contribution percentages specified in Section 3.7(1) are satisfied for each Plan Year, the Company may monitor (or cause to be monitored) the amount of Before-Tax Contributions, Roth Contributions and Matching Employer Contributions, if any, being made to the Plan for each Eligible Employee during each Plan Year.  In the event that the Company determines that neither of such actual deferral percentages or neither of such contribution percentages will be satisfied for a Plan Year, the Before-Tax Contributions, Roth Contributions and/or Matching Employer Contributions made thereafter for each Highly Compensated Eligible Employee (as defined in Section 3.6(3)) shall be reduced (pursuant to non-discriminatory rules adopted by the Company) to the extent necessary to decrease the actual deferral percentage and/or contribution percentage for Highly Compensated Eligible Employees for such Plan Year to a level which satisfies either of the actual deferral percentages and/or either of the contribution percentages.”
		
	XXIX.
	

Section 3.8(2) of the Plan is hereby amended in its entirety to read as follows:
“(2)    In order to ensure that excess deferrals (as such term is defined in Section 3.5(2)) shall not be made to the Plan for any taxable year for any Member, the Company may monitor (or cause to be monitored) the amount of Before-Tax Contributions and Roth Contributions being made to the Plan for each Member during each taxable year and may take such action (pursuant to non-discriminatory rules adopted by the Company) to prevent Before-Tax Contributions and/or Roth Contributions made for any Member under the Plan for any taxable year from exceeding the maximum amount applicable under Section 3.5(1).”
		
	XXX.
	

The third sentence of Section 3.9(1) of the Plan is hereby amended in its entirety to read as follows:
“Without limiting the generality of the foregoing, the Plan may accept as a Rollover Contribution amounts distributed from a designated Roth account (as defined in section 402A of the Code) which shall be separately accounted for under the Plan, but the Plan shall not accept as a Rollover Contribution any amounts distributed from a Roth IRA (as defined in section 408A of the Code).”  

		
	XXXI.
	

Section 3.11 of the Plan is hereby amended in its entirety to read as follows:
“3.11    Catch-Up Contributions.  All Members who have elected, or are deemed to have elected, to make Before-Tax Contributions and/or Roth Contributions to this Plan and who have attained age 50 before the end of a particular Plan Year shall be eligible to make catch-up contributions (the “Catch-Up Before-Tax Contributions” and “Catch-Up Roth Contributions,” respectively, and the “Catch-Up Contributions,” collectively) in accordance with, and subject to the limitations of, section 414(v) of the Code; provided, however that Catch-Up Contributions shall not be eligible for Matching Employer Contributions under Section 4.1, and provided further that Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of section 401(a)(30) and 415(c) of the Code (i.e., Sections 3.6 and 4.11, respectively).  In addition, notwithstanding any provision of the Plan to the contrary, the Plan shall not be treated as failing to satisfy the requirements of sections 401(k)(3), 401(k)(11), 410(b) or 416 of the Code, as applicable, by reason of the making of any such Catch-Up Contributions.  In furtherance of, but without limiting the foregoing, Before-Tax Contributions and Roth Contributions that exceed (i) the percentage limits described in Section 3.1, (ii) the statutory limits described in Sections 3.5(1) and 4.11, or (iii) the limits specified by the Company under Section 3.8 for the Plan Year, shall be treated as Catch-Up Contributions; provided, however, that whether Before-Tax Contributions and Roth Contributions are in excess of any applicable limit and therefore shall be treated as Catch-Up Contributions shall be determined as of the end of the Plan Year.  A Member who is eligible to make Catch-Up Contributions shall designate whether his Catch-Up Contributions shall be considered Before-Tax Contributions or Roth Contributions.  In the event a Member does not designate whether the Catch-Up Contributions to be made are to be Before-Tax Contributions or Roth Contributions, all Catch-Up Contributions shall be deemed for all purposes of the Plan to be Before-Tax Contributions.”
		
	XXXII.
	

Section 4.3 of the Plan is hereby amended in its entirety to read as follows:
“4.3    Allocation of Matching Employer Contributions.  Except as otherwise provided in any other provision of the Plan or Trust Agreement, each Employer’s Matching Employer Contributions made for a Plan Year shall, subject to the provisions of Sections 3.5(3), 3.6(5) and 3.7(3), be allocated and credited to the Account of each Employee of the Employer who is a Matching Contribution Participant, who is entitled to receive Matching Employer Contributions and for whom Before-Tax Contributions and/or Roth Contributions were made during such Plan Year, with each such Matching Contribution Participant being credited with a portion of such Employer’s Matching Employer Contributions equal to the Matching Employer Contribution Percentage of the Before-Tax Contributions and Roth Contributions (not in excess of 3% of Compensation or such other percentage of Compensation specified in the Employer’s Instrument of Adoption) made for him pursuant to Section 3.1.  An Employee of the Employer who is a Matching Contribution Participant and for whom Before-Tax Contributions and/or Roth Contributions are made shall be entitled to receive an allocation of Matching Employer Contributions in accordance with the preceding sentence for the period during which he was a Matching Contribution Participant.  For purposes of this Section, the terms “Before-Tax Contributions” and “Roth Contributions” shall not include any Catch-Up Contributions (as defined in Section 3.11).”
		
	XXXIII.
	

Section 5.2 of the Plan is hereby amended in its entirety to read as follows:
“5.2    Account; Sub-Account.  The Company shall establish and maintain, or cause to be established and maintained, an Account for each Member, which Account shall reflect, pursuant to Sub-Accounts established and maintained thereunder, the amount, if any, of the Member’s (1) Before-Tax Contributions, (2) Roth Contributions, (3) Rollover Contributions, (4) Prior ESOP Contributions, (5) Matching Employer Contributions, (6) Qualified Nonelective Contributions, (7) Nonelective Employer Contributions, (8) Transitional Employer Contributions, (9) FSP Contributions, (10) FSP Plus Contributions, (11) Weartech Prior Matching Contributions and (12) Harris Prior Employer Contributions.  The Company shall also establish and maintain an ESOP Account and a Non-ESOP Account for each Member.  To the extent a Member’s Rollover Contributions consist of the portion of a distribution not includible in the gross income of the Member, the Plan shall separately account for the portion of the distribution that is includible in gross income and the portion of the distribution that is not so includible, and any amount received as a Rollover Contribution from a designated Roth account, as defined in Section 402A of the Code (and only to the extent the rollover is permitted under the rules of Section 402(c) of the Code), will be allocated to a Roth Rollover Contributions Sub-Account within the Member’s Rollover Contributions Sub-Account.  The Company may establish such other Sub-Accounts, to the extent deemed necessary or desirable, in order to separately account for contribution and/or investment sources.”
		
	XXXIV.
	

Section 5.8(1) of the Plan is hereby amended in its entirety to read as follows:
“(1)    A Member who is an Employee or a “party in interest” within the meaning of section 3(14) of ERISA, but who is not a Disabled Member, may apply on the form provided by the Administrative Committee for a loan from his Vested Interest in his Account.  If the Committee determines that the Member is not in bankruptcy or similar proceedings and is entitled to a loan in accordance with the following provisions of this Section, the Committee shall direct the Trustee to make a loan to the Member from his Account.  Each loan shall be charged against the Member’s Vested Interest in his Sub-Accounts as follows:  first, against the Member’s Rollover Contributions Sub-Account (excluding the Roth Rollover Contributions Sub-Account), if any; second, to the extent necessary, against the Member’s Before-Tax Contributions Sub-Account, if any; third, to the extent necessary, against the Member’s Qualified Nonelective Contributions Sub-Account, if any; fourth, to the extent necessary, against the Member’s Matching Employer Contributions Sub-Account, if any; fifth, to the extent necessary, against the Member’s Nonelective Employer Contributions Sub-Account, if any; sixth, to the extent necessary, against the Member’s Transitional Employer Contributions Sub-Account, if any; seventh, to the extent necessary, against the Member’s Prior ESOP Contributions Sub-Account, if any; eighth, to 

the extent necessary, against the Member’s Weartech Prior Matching Contributions Sub-Account, if any; ninth, to the extent necessary, against the Member’s FSP Contributions Sub-Account; tenth, to the extent necessary, against the Member’s FSP Plus Contributions Sub-Account; eleventh, to the extent necessary, against the Member’s Harris Prior Employer Contributions Sub-Account, if any; twelfth, to the extent necessary, against the Member’s Roth Rollover Contributions Sub-Account; and thirteenth, to the extent necessary, against the Member’s Roth Contributions Sub-Account.”
		
	XXXV.
	

Section 6.3(1)(b) of the Plan is hereby amended by inserting the following new sentence at the end thereof:
“Except as otherwise provided under any procedures implemented by the Administrative Committee, including any Member elections permitted by such procedures, installment distributions will be charged against the Sub-Accounts in the Member’s Account on a pro-rata basis.”
		
	XXXVI.
	

Section 6.7(1) of the Plan is hereby amended in its entirety to read as follows:
“(1)    Withdrawals on Account of Hardship.  A Member who is an Employee and who has obtained all distributions and withdrawals (including distributions of dividends from his ESOP Account under section 404(k) of the Code but not Hardship distributions) then available under all plans maintained by the Controlled Group may request, on a form provided by and filed with the Committee, a withdrawal on account of Hardship of all or a part of his Vested Interest in the following Sub-Accounts (including earnings thereon):  Rollover Contributions Sub-Account (excluding the Roth Rollover Contributions Sub-Account), Before-Tax Contributions Sub-Account, Matching Employer Contributions Sub-Account, Nonelective Employer Contributions Sub-Account, Transitional Employer Contributions Sub-Account, Prior ESOP Contributions Sub-Account, Weartech Prior Matching Contributions Sub-Account, FSP Contributions Sub-Account, FSP Plus Contributions Sub-Account, Harris Prior Employer Contributions Sub-Account, Roth Rollover Contributions Sub-Account and Roth Contributions Sub-Account.  Upon making a determination that the Member is entitled to a withdrawal on account of Hardship, the Committee shall direct the Trustee to distribute to such Member the amount requested and charge the amount of the withdrawal to the Member’s Sub-Accounts in the order set forth in the preceding sentence,  provided, however, that the amount of the withdrawal shall not be in excess of the amount necessary to alleviate such Hardship.  If, as of January 1, 2019, a Member’s Before-Tax Contributions were suspended for a period of six months following receipt of a withdrawal on account of Hardship, such suspension will cease to apply effective January 1, 2019 and a Member who desires to resume having Before-Tax Contributions made for him may do so, as of any Valuation Date on or after January 1, 2019, if he is then an Eligible Employee and he again enrolls as a contributing Member pursuant to Sections 2.2(1) and 3.1.”
		
	XXXVII.
	

Section 6.7(3) of the Plan is hereby amended in its entirety to read as follows:
“(3)    Withdrawals of Rollover Contributions.  A Member who is an Employee may request, on a form provided by and filed with the Committee, a withdrawal of all or any part of his Rollover Contributions Sub-Account.  Any such partial withdrawal shall be charged pro-rata to the non-Roth Rollover Contributions Sub-Account and the Roth Rollover Contributions Sub-Account under the Member’s Account.”
		
	XXXVIII.
	

Section 6.9 of the Plan is hereby amended by inserting the following new Section 6.9(4) immediately following Section 6.9(3) thereof:
“(4)    Notwithstanding the foregoing, an Eligible Rollover Distribution from a Roth Contributions Sub-Account or Roth Rollover Contributions Sub-Account will only be made to another designated Roth account (as defined in Section 402A of the Code) under an applicable retirement plan described in Section 402A(e)(1) of the Code or to a Roth IRA described in Section 408A of the Code, and only to the extent the rollover is permitted under the rules of Section 402(c) of the Code.”
		
	XXXIX.
	

Section 6.12 of the Plan is hereby amended in its entirety to read as follows:
“6.12     Distributions to Certain Individuals Performing Military Service.  
(1)    To the extent permitted by section 414(u)(12)(B) of the Code, a Member shall be treated as having had an Employment Severance during any period that the Member is performing services in the uniformed services (as defined in section 3401(h)(2)(A) of the Code) on active duty for a period of more than 30 days, and may elect to receive a distribution of all or a portion of his Before-Tax Contributions and Roth Contributions made under the Plan.  A Member who receives a distribution from the Plan by reason of this Section shall have his Before-Tax Contributions and Roth Contributions suspended for a period of 6 months beginning on the date of distribution.  Any such distribution of a portion of the Member’s Before-Tax Contributions and Roth Contributions shall be charged pro-rata to the Member’s Before-Tax Contributions Sub-Account and Roth Contributions Sub-Account.
(2)    A Member who is an Employee and is ordered or called to active duty may elect a Qualified Reservist Distribution.  A “Qualified Reservist Distribution” is any distribution, if (a) the distribution is from amounts attributable to Before-Tax Contributions and/or Roth Contributions; (b) the Member was, by reason of being a member of a reserve component, as defined in Section 101 of Title 37 of the United States Code, ordered or called to active duty for a period in excess of 179 days or for an indefinite period; and (c) such distribution is made during the period beginning on the date of such order or call, and ending at the close of the Member’s active duty period.  Any such distribution of a portion of the Member’s Before-Tax Contributions and Roth Contributions shall be charged pro-rata to the Member’s Before-Tax Contributions Sub-Account and Roth Contributions Sub-Account.”

		
	XL.
	

Section 15.5(a) of the Plan is hereby amended in its entirety to read as follows:
“(a)    Each Non‐Key Employee who is eligible to share in any Employer Contribution for such Plan Year (or who would have been eligible to share in any such Employer Contribution if a Before‐Tax Contribution or Roth Contribution had been made for him during such Plan Year) shall be entitled to receive an allocation of such Employer Contribution, which is at least equal to three percent (3%) of his Compensation for such Plan Year.”  

		
	XLI.
	

Section 15.5(f) of the Plan is hereby amended in its entirety to read as follows:
“(f)    For the purpose of this Section, the term “Employer Contributions” shall include Before-Tax Contributions, Roth Contributions and Matching Employer Contributions made for an Employee; provided, however, that Matching Employer Contributions taken into account in satisfying the percentage minimum contribution requirement set forth in paragraphs (a) and (b) above shall be treated as matching contributions for purposes of the actual contribution percentage test and other requirements of section 401(m) of the Code.”

		
	XLII.
	

Exhibit A of the Plan is hereby amended in its entirety to read as follows:
“EXHIBIT A 
Participating Employers
as of July 1, 2019

The Lincoln Electric Company
J.W. Harris Co
Lincoln Global, Inc.
Welding, Cutting, Tools & Accessories, LLC
Smart Force, LLC
Lincoln Electric Cutting Systems, Inc.
Kaliburn, Inc.
Easom Automation Systems, Inc.
Weartech International, Inc. 
Vizient Manufacturing Solutions, Inc.
Baker Industries, Inc.”

EXECUTED at Cleveland, Ohio this 26th day of June, 2019.
THE LINCOLN ELECTRIC COMPANY

By:  /s/ Michele R. Kuhrt    
Title:  Executive Vice President, Chief Human Resources OfficerExhibit 10.1

 

AMENDED
AND RESTATED

OFFERING
DEPOSIT ACCOUNT AGENCY AGREEMENT

 

This
AMENDED AND RESTATED OFFERING DEPOSIT ACCOUNT AGENCY AGREEMENT (this “Agreement”) dated as of this July
25th, 2019, by and among FUQIN FINTECH LIMITED, a Cayman Islands company (the “Company”), having an
address at No.8 Guanghua Dongli, Zhonghai Guangchang, South Tower, 7th Floor, Chaoyang District, Beijing, PRC 100020 and BOUSTEAD
SECURITIES, LLC, serving as the representative of the underwriters (the “Underwriter”), having an address
at 6 Venture, Suite 265, Irvine, CA 92618 USA, and SUTTER SECURITIES CLEARING, LLC (formerly known as Fintech Clearing,
LLC) (the “Deposit Account Agent”), a broker-dealer registered with the Securities and Exchange Commission
(“SEC”), having an office at 6 Venture, Suite 265, Irvine, CA 92618 USA. All capitalized terms not herein defined
shall have the meaning ascribed to them in that certain prospectus filed with the United States SEC dated August 31, 2018, under
File Number 333-227131, including all attachments, schedules and exhibits thereto, as amended from time to time (the “Prospectus”).

 

W
I T N E S S E T H:

 

WHEREAS,
the Company, the Underwriter and the Deposit Account Agent entered into that certain Offering Deposit Account Agency Agreement
dated as of December 10, 2018 (“Original Agreement”); and

 

WHEREAS,
the Company, the Underwriter and the Deposit Account Agent desire to amend and restate the Original Agreement in its entirety
and enter into this Agreement; and

 

WHEREAS,
pursuant to the terms of the Prospectus the Company desires to sell (the “Offering”) a minimum of $10,000,000.00
(the “Minimum Amount”) and a maximum of $20,000,000.00 (the “Maximum Amount”) of its ordinary
shares (the “Shares”). The minimum investment per subscriber is $500.00 (which minimum investment may be waived
by Company); and

 

WHEREAS,
unless the Minimum Amount is sold by December 31, 2019 (the “Final Termination Date”) (defined below in
Section 2(b)), the Offering shall terminate, and all funds shall be returned to the subscribers in the Offering, and if the Minimum
Amount is met, the Offering may continue until the Final Termination Date, and one or more closings may be conducted on or prior
to the Final Termination Date; and

 

WHEREAS,
the Company and Underwriter desire to establish a deposit account with the Deposit Account Agent into which the Company and Underwriter
shall instruct investors introduced to the Company by Underwriter (the “Investors”) to deposit checks and other
instruments for the payment of money made payable to the order of “Sutter Securities Clearing as Agent for the Investors
in Fuqin Fintech Limited” and Deposit Account Agent is willing to accept said checks and other instruments for the payment
of money in accordance with the terms hereinafter set forth; and

 

     

     

    

 

WHEREAS,
the Company, as issuer, and Underwriter, as an introducing broker-dealer, represent and warrant to the Deposit Account Agent that
they will comply with all of their respective obligations under applicable state and federal securities laws and regulations with
respect to sale of the Offering; and

 

WHEREAS,
the Company and Underwriter represent and warrant to the Deposit Account Agent that they have not stated to any individual or
entity that the Deposit Account Agent’s duties will include anything other than those duties stated in this Agreement; and

 

WHEREAS,
the Company and Underwriter warrant to the Deposit Account Agent that a copy of each document that has been delivered to Investors
and third parties that include Deposit Account Agent’s name and duties, has been attached hereto as Schedule I.

 

NOW,
THEREFORE, IT IS AGREED as follows:

 

1.
Delivery of Deposit Funds.

 

(a)
Underwriter and the Company shall instruct Investors to wire transfer to Pacific Mercantile Bank, ABA No. 122242869, for
credit to “Sutter Securities Clearing, as Agent for the Investors in Fuqin Fintech Limited” Account No. 45712427
or deliver to Deposit Account Agent checks made payable to the order of “Sutter Securities Clearing, as Agent for the
Investors in Fuqin Fintech Limited,” to Sutter Securities Clearing, 6 Venture, Suite 265, Irvine, CA 92618, Attention:
Robert A. Maley, President, , in each case, with the name and address of the individual or entity making payment. In the
event any Investor’s address is not provided to Deposit Account Agent by the Investor, then Underwriter and/or the
Company agree to promptly provide Deposit Account Agent with such information in writing. The checks or wire transfers shall
be deposited into a non-interest-bearing account at Pacific Mercantile Bank entitled “Sutter Securities Clearing, as
Agent for the Investors in Fuqin Fintech Limited” (the “Deposit Account”).

 

(b)
The collected funds deposited into the Deposit Account are referred to as the “Deposit Funds.”

 

(c)
The Deposit Account Agent shall have no duty or responsibility to enforce the collection or demand payment of any funds
deposited into the Deposit Account. If, for any reason, any check deposited into the Deposit Account shall be returned unpaid
to the Deposit Account Agent, the sole duty of the Deposit Account Agent shall be to return the check to the Investor and
advise the Company and Underwriter promptly thereof.

 

2. Release
of Deposit Funds. The Deposit Funds shall be paid by the Deposit Account Agent in accordance with
the following:

 

(a)
In the event that the Company and Underwriter advise the Deposit Account Agent in writing that the Offering has been
terminated (the “Termination Notice”), the Deposit Account Agent shall promptly return the funds paid by
each Investor to said Investor without interest or offset within five (5) business days.

 

    2

     

    

 

(b)
If prior to 3:00 P.M. Pacific time on the Final Termination Date, the Deposit Account Agent receives written notice, in the
form of Exhibit A, attached hereto and made a part hereof, and signed by the Company and Underwriter, stating that the Final Termination
Date has been extended (the “Extension Notice”), then the Final Termination Date shall be so extended and such
date shall be the new “Final Termination Date”. 

 

(c)
Provided that the Deposit Account Agent does not receive the Termination Notice in accordance with Section 2(a) and there is
the Minimum Amount deposited into the Deposit Account on or prior to the Final Termination Date or the date stated in the
Extension Notice, if any, received by the Deposit Account Agent in accordance with Section 2(b) above, the Deposit Account
Agent shall, upon receipt of written instructions, in the form of Exhibit B, attached hereto and made a part hereof, or in a
form and substance satisfactory to the Deposit Account Agent, received from the Company and Underwriter, pay the Deposit
Funds in accordance with such written instructions, such payment or payments to be made by wire transfer within one
(1) business day of receipt of such written instructions. Such instructions must be received by the Deposit Account Agent no
later than 3:00 PM Pacific Time on a Business Day for the Deposit Account Agent to process such instructions that Business
Day.

 

(d)
If by 3:00 P.M. Pacific time on the later of the Final Termination Date or the date stated in the Extension Notice, if any,
that the Deposit Account Agent has received in accordance with Section 2(b) above, the Deposit Account Agent has not received
written instructions from the Company and Underwriter regarding the disbursement of the Deposit Funds or the total amount of
the Deposit Funds is less than the Minimum Amount, then the Deposit Account Agent shall promptly return the Deposit Funds to
the Investors without interest or offset within five (5) business days. The Deposit Funds returned to each Investor shall be
free and clear of any and all claims of the Deposit Account Agent.

 

(e)
The Deposit Account Agent shall not be required to pay any uncollected funds or any funds that are not available for
withdrawal.

 

(f)
If the Final Termination Date or any date that is a deadline under this Agreement for giving the Deposit Account Agent notice
or instructions or for the Deposit Account Agent to take action is not a Business Day, then such date shall be the Business
Day that immediately preceding that date. A “Business Day” is any day other than a Saturday, Sunday or a
day that a SEC-registered broker-dealer is not legally obligated to be opened.

 

3. Acceptance
by Deposit Account Agent. The Deposit Account Agent hereby accepts and agrees to perform its obligations hereunder,
provided that:

 

(a) The
Deposit Account Agent may act in reliance upon any signature believed by it to be genuine and may assume that any person who has
been designated by Underwriter or the Company to give any written instructions, notice or receipt, or make any statements in connection
with the provisions hereof has been duly authorized to do so. Deposit Account Agent shall have no duty to make inquiry as to the
genuineness, accuracy or validity of any statements or instructions or any signatures on statements or instructions. The names
and true signatures of each individual authorized to act singly on behalf of the Company and Underwriter are stated in Schedule
II, which is attached hereto and made a part hereof. The Company and Underwriter may each remove or add one or more of its
authorized signers stated on Schedule II by notifying the Deposit Account Agent of such change in accordance with this
Agreement, which notice shall include the true signature for any new authorized signatories.

 

    3

     

    

 

(b) The
Deposit Account Agent may act relative hereto in reliance upon advice of counsel in reference to any matter connected herewith.
The Deposit Account Agent shall not be liable for any mistake of fact or error of judgment or law, or for any acts or omissions
of any kind, unless caused by its willful misconduct or gross negligence.

 

(c) Underwriter
and the Company agree to indemnify and hold the Deposit Account Agent harmless from and against any and all claims, losses, costs,
liabilities, damages, suits, demands, judgments or expenses (including but not limited to reasonable attorney’s fees) claimed
against or incurred by Deposit Account Agent arising out of or related, directly or indirectly, to this Agreement unless caused
by the Deposit Account Agent’s gross negligence or willful misconduct.

 

(d) In
the event that the Deposit Account Agent shall be uncertain as to its duties or rights hereunder, the Deposit Account Agent shall
be entitled to (i) refrain from taking any action other than to keep safely the Deposit Funds until it shall be directed otherwise
by a court of competent jurisdiction, or (ii) deliver the Deposit Funds to a court of competent jurisdiction.

 

(e) The
Deposit Account Agent shall have no duty, responsibility or obligation to interpret or enforce the terms of any agreement other
than Deposit Account Agent’s obligations hereunder, and the Deposit Account Agent shall not be required to make a request
that any monies be delivered to the Deposit Account, it being agreed that the sole duties and responsibilities of the Deposit
Account Agent shall be to the extent not prohibited by applicable law (i) to accept checks or other instruments for the payment
of money and wire transfers delivered to the Deposit Account Agent for the Deposit Account and deposit said checks and wire transfers
into the non-interest bearing Deposit Account, and (ii) to disburse or refrain from disbursing the Deposit Funds as stated above,
provided that the checks received by the Deposit Account Agent have been collected and are available for withdrawal.

 

4. Term
of Deposits. This Agreement shall terminate upon the disbursement of all Deposit Funds in the Deposit Account pursuant
to Section 2(c), Section 2(d), Section 6 or Section 7 (except with respect to provisions hereof which are specifically intended
to survive such termination).

 

5. Deposit
Account Statements and Information. The Deposit Account Agent agrees to send to the Company and/or the Underwriter a copy
of the Deposit Account periodic statement, upon request and to also provide the Company and/or Underwriter, or their designee,
upon request other deposit account information, including Deposit Account balances, by telephone or by computer communication,
to the extent practicable. The Company and Underwriter agree to complete and sign all forms or agreements required by the Deposit
Account Agent for that purpose. The Company and Underwriter each consent to the Deposit Account Agent’s release of such
Deposit Account information to any of the individuals designated by Company or Underwriter, which designation has been signed
in accordance with Section 3(a) by any of the persons in Schedule II.  Further, the Company and Underwriter have an
option to receive e-mail notification of incoming and outgoing wire transfers. If this e-mail notification service is requested
and subsequently approved by the Deposit Account Agent, the Company and Underwriter agrees to provide a valid e-mail address and
other information necessary to set-up this service and sign all forms and agreements required for such service. The Company and
Underwriter each consent to the Deposit Account Agent’s release of wire transfer information to the designated e-mail address(es).
The Deposit Account Agent’s liability for failure to comply with this section shall not exceed the cost of providing such
information.

 

    4

     

    

 

6. Resignation
and Termination of the Deposit Account Agent. The Deposit Account Agent may resign at any time by giving 30 days’ prior
written notice of such resignation to Underwriter and the Company. Upon providing such notice, the Deposit Account Agent shall
have no further obligation hereunder except to hold as depositary the Deposit Funds that it receives until the end of such 30-day
period. In such event, the Deposit Account Agent shall not take any action, other than receiving and depositing Investors’
checks and wire transfers in accordance with this Agreement, until the Company has designated a banking corporation, trust company,
attorney or other person as successor. Upon receipt of such written designation signed by Underwriter and the Company, the Deposit
Account Agent shall promptly deliver the Deposit Funds to such successor and shall thereafter have no further obligations hereunder.
If such instructions are not received within 30 days following the effective date of such resignation, then the Deposit Account
Agent may deposit the Deposit Funds held by it pursuant to this Agreement with a clerk of a court of competent jurisdiction pending
the appointment of a successor. In either case provided for in this Section, the Deposit Account Agent shall be relieved of all
further obligations and released from all liability thereafter arising with respect to the Deposit Funds.

 

7. Termination.
The Company and Underwriter may terminate the appointment of the Deposit Account Agent hereunder upon written notice specifying
the date upon which such termination shall take effect, which date shall be at least 30 days from the date of such notice. In
the event of such termination, the Company and Underwriter shall, within 30 days of such notice, appoint a successor deposit account
agent and the Deposit Account Agent shall, upon receipt of written instructions signed by the Company and Underwriter, turn over
to such successor deposit account agent all of the Deposit Funds; provided, however, that if the Company and Underwriter
fail to appoint a successor deposit account agent within such 30-day period, such termination notice shall be null and void and
the Deposit Account Agent shall continue to be bound by all of the provisions hereof. Upon receipt of the Deposit Funds, the successor
deposit account agent shall become the deposit account agent hereunder and shall be bound by all of the provisions hereof and
Deposit Account Agent shall be relieved of all further obligations and released from all liability thereafter arising with respect
to the Deposit Funds and under this Agreement.

 

8. Investment.
All funds received by the Deposit Account Agent shall be held only in non-interest-bearing accounts at Pacific Mercantile Bank.

 

9. Compensation.
Deposit Account Agent shall be entitled, for the duties to be performed by it hereunder, to a fee as set forth on Schedule III.
In addition, the Company shall be obligated to reimburse Deposit Account Agent for all fees, costs and expenses incurred or that
become due in connection with this Agreement or the Deposit Account, including reasonable attorney’s fees. Neither the modification,
cancellation, termination or rescission of this Agreement nor the resignation or termination of the Deposit Account Agent shall
affect the right of Deposit Account Agent to retain the amount of any fee which has been paid, or to be reimbursed or paid any
amount which has been incurred or becomes due, prior to the effective date of any such modification, cancellation, termination,
resignation or rescission. To the extent the Deposit Account Agent has incurred any such expenses, or any such fee becomes due,
prior to any closing, the Deposit Account Agent shall advise the Company and the Company shall direct all such amounts to be paid
directly at any such closing.

 

    5

     

    

 

10. Notices.
All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall
be deemed to have been duly given if sent by hand-delivery, by facsimile (followed by first-class mail), by nationally recognized
overnight courier service or by prepaid registered or certified mail, return receipt requested, to the addresses set forth below:

 

If
to Underwriter:

 

Boustead
Securities, LLC

6
Venture, Suite 265

Irvine,
CA 92618

Attn:
Keith Moore, CEO

Email:
keith@boustead1828.com

Fax:
+1 815 301 8099

 

With
copy to:

 

Mei
& Mark LLP

818
18th Street NW, Suite 410

Washington,
DC 20006

Attn:
Fang Liu, Esq.

Email:
fliu@meimark.com

Fax:
(888) 706-1173

 

If
to the Company:

 

Fuqin
Fintech Limited

No.8
Guanghua Dongli, Zhonghai Guangchang, South Tower, 7th Floor

Chaoyang
District, Beijing, PRC 100020

Attn:
Xingliang Li, Chief Executive Officer

 

With
copy to: 

 

Ortoli
Rosenstadt LLP

366
Madison Avenue, 3rd Floor

New
York, NY 10017

Attn:William
S. Rosenstadt, Esq.

Mengyi
“Jason” Ye, Esq.

Email:wsr@orllp.legal

jye@orllp.legal

Fax:
(212) 826-9307

 

    6

     

    

 

If
to Deposit Account Agent:

 

Sutter
Securities Clearing, LLC

6
Venture, Suite 265

Irvine,
CA 92618

Attn:
Robert A. Maley, President

Email:
robert.maley@sutterus.com

Fax:
+1 310 504 3704

 

11. General.

 

(a) This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to agreements
made and to be entirely performed within such State, without regard to choice of law principles and any action brought hereunder
shall be brought in the courts of the State of California, located in the County of Orange. Each party hereto irrevocably waives
any objection on the grounds of venue, forum nonconveniens or any similar grounds and irrevocably consents to service of process
by mail or in any manner permitted by applicable law and consents to the jurisdiction of said courts. EACH OF THE PARTIES HERETO
HEREBY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF THE TRANSACTIONS CONTEMPLATED
BY THIS AGREEMENT.

 

(b) This
Agreement sets forth the entire agreement and understanding of the parties with respect to the matters contained herein and supersedes
all prior agreements, arrangements and understandings relating thereto.

 

(c) All
of the terms and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties
hereto, as well as their respective successors and assigns.

 

(d) This
Agreement may be amended, modified, superseded or canceled, and any of the terms or conditions hereof may be waived, only by a
written instrument executed by each party hereto or, in the case of a waiver, by the party waiving compliance. The failure of
any party at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time
to enforce the same. No waiver of any party of any condition, or of the breach of any term contained in this Agreement, whether
by conduct or otherwise, in any one or more instances shall be deemed to be or construed as a further or continuing waiver of
any such condition or breach or a waiver of any other condition or of the breach of any other term of this Agreement. No party
may assign any rights, duties or obligations hereunder unless all other parties have given their prior written consent.

 

(e) If
any provision included in this Agreement proves to be invalid or unenforceable, it shall not affect the validity of the remaining
provisions.

 

    7

     

    

 

(f) This
Agreement and any modification or amendment of this Agreement may be executed in several counterparts or by separate instruments
and all of such counterparts and instruments shall constitute one agreement, binding on all of the parties hereto.

 

12. Form
of Signature. The parties hereto agree to accept a facsimile transmission copy of their respective actual signatures as evidence
of their actual signatures to this Agreement and any modification or amendment of this Agreement; provided, however,
that each party who produces a facsimile signature agrees, by the express terms hereof, to place, promptly after transmission
of his or her signature by fax, a true and correct original copy of his or her signature in overnight mail to the address of the
other party.

 

13.
 No Third-Party Beneficiaries.  This Agreement is solely for the benefit
of the parties and their respective successors and permitted assigns, and no other person has any right, benefit, priority, or
interest under or because of the existence of this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

    8

     

    

 

IN
WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first set forth above.

 

	Fuqin
    Fintech Limited	 	Boustead
    Securities, LLC
	 	 	 	 	 
	By:	/s/
    Richard Chen	 	By:	/s/
    Keith Moore
	Name:	Richard
    Chen	 	Name:	Keith
    Moore
	Title:	CFO	 	Title:	CEO
	 	 	 	 	 
	Sutter
    Securities Clearing, LLC	 	 	 
	 	 	 	 	 
	By:
    	/s/
    Robert A. Maley	 	 	 
	Name:	Robert
    A. Maley	 	 	 
	Title:	President	 	 	 

 

    9

     

    

 

Schedule
I

 

OFFERING
DOCUMENTS

 

As
attached.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    10

     

    

 

Schedule
II

 

The
Deposit Account Agent is authorized to accept instructions signed or believed by the Deposit Account Agent to be signed by any
one of the following on behalf of the Company and Underwriter.

 

Fuqin
Fintech Limited

 

	Name	 	True
    Signature
	 	 	 
	Huaishan
    Cao	 	/s/
    Huaishan Cao
	 	 	 
	Xingliang
    Li	 	/s/
    Xingliang Li

 

Boustead
Securities, LLC

 

	Name	 	True
    Signature
	 	 	 
	Keith
    Moore, CEO	 	/s/
    Keith Moore
	 	 	 
	Dan
    McClory, Managing Director	 	/s/
    Dan McClory

 

    11

     

    

 

Schedule
III

Fee
Schedule

 

	Service	 	Fee	 
	Cash Management Fee (one-time fee)	 	$	4,500.00	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    12

     

    

 

Exhibit
A

 

EXTENSION
NOTICE

 

Date:

 

Sutter
Securities Clearing, LLC

6
Venture, Suite 265

Irvine,
CA 92618

Attention:
Robert A. Maley, President

 

Dear
Mr. Maley:

 

In
accordance with the terms of Section 2(b) of a Offering Deposit Account Agency Agreement dated as of __________, 2019 (the "Deposit
Account Agreement") by and among Fuqin Fintech Limited. (the “Company”), Boustead Securities, LLC (the “Underwriter”),
and Sutter Securities Clearing, LLC (the “Deposit Account Agent”), the Company and Underwriter hereby notifies the
Deposit Account Agent that the Termination Date has been extended to ____________, 2019, the Final Termination Date.

 

Very
truly yours,

 

	Fuqin
    Fintech Limited	 	Boustead
    Securities, LLC
	 	 	 	 	 
	By:		 	By:	
	Name:		 	Name:	Keith
    Moore
	Title:		 	Title:	CEO

 

Accepted

 

	Sutter
    Securities Clearing, LLC	 	 	 
	 	 	 	 	 
	By:
    		 	 	 
	Name:	Robert
    A. Maley	 	 	 
	Title:	President	 	 	 

 

    13

     

    

 

Exhibit
B

 

FORM
OF DEPOSIT RELEASE NOTICE

 

Date:

 

Sutter
Securities Clearing, LLC

6
Venture, Suite 265

Irvine,
CA 92618

Attention:
Robert A. Maley, President

 

Dear
Mr. Maley:

 

In
accordance with the terms of Section 2(c) of a Offering Deposit Account Agency Agreement dated as of __________, 2019 (the "Deposit
Account Agreement"), by and between Fuqin Fintech Limited (the "Company"), Sutter Securities Clearing, LLC (the
"Deposit Account Agent") and Boustead Securities, LLC (the "Underwriter"), the Company and Underwriter hereby
notify the Deposit Account Agent that the ________ closing will be held on ___________ for gross proceeds of $_________.

 

PLEASE
DISTRIBUTE FUNDS BY WIRE TRANSFER AS FOLLOWS (wire instructions attached):

 

________________________:        $

 

________________________:        $

 

________________________:        $

 

Very
truly yours,

 

	Fuqin
    Fintech Limited	 	Boustead
    Securities, LLC
	 	 	 	 	 
	By:		 	By:	
	Name:		 	Name:	Keith
    Moore
	Title:		 	Title:	CEO

 

Accepted

 

	Sutter
    Securities Clearing, LLC	 	 	 
	 	 	 	 	 
	By:
    		 	 	 
	Name:	Robert
    A. Maley	 	 	 
	Title:	President	 	 	 

 

 

14

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