Document:

Exhibit

L3 TECHNOLOGIES, INC. 

GLOBAL AMENDMENT TO 
PERFORMANCE CASH AWARD AGREEMENTS

THIS GLOBAL AMENDMENT (this “Amendment”), dated as of July 25, 2018 (the “Effective Time”), amends each outstanding Performance Cash Award Agreement granted on or after February 16, 2016 (each, an “Award Agreement”) pursuant to the L3 Technologies, Inc. Amended and Restated 2012 Cash Incentive Plan (the “Plan”), and is entered into by L3 Technologies, Inc., a Delaware corporation (the “Company”).  Capitalized terms used herein without definition have the meanings assigned to such terms under the applicable Award Agreement.

WHEREAS, Participants covered by the Award Agreements are eligible to earn a specified cash award subject to the terms of the applicable Award Agreements;

WHEREAS, the Award Agreements currently provide that in the event of a Change in Control while the underlying awards remain outstanding, (i) the Performance Period will be deemed to terminate as of the Change in Control date, (ii) the “Applicable Award Multiplier” for purposes of the awards shall be deemed to equal 100% (subject to potential upward adjustment, if so determined by the Committee in accordance with the Award Agreement), (iii) the Participant shall receive payment, within 30 days following the Change in Control date, of a pro-rata portion of the earned cash award based on the number of completed months out of the entire (i.e., non-truncated) Performance Period (the “Original Performance Period”) as of the Change in Control date (such portion, the “Accelerated Portion”); and (iv) the remaining portion of the cash award covered by the Award Agreement as of the Change in Control date other than the Accelerated Portion (the “Remaining Portion”) will be forfeited as of the Change in Control date; and

WHEREAS, the Committee wishes to amend the Award Agreements to provide each Participant with an opportunity to earn the Remaining Portion following a Change in Control, subject to the Participant’s continued employment through the last day of the Original Performance Period (the “Original Vesting Date”), with accelerated vesting following such Change in Control of (i) 100% of the Remaining Portion, in the event of the Participant’s termination without Cause or termination for “Good Reason” (as defined in the Company’s Amended and Restated Change in Control Severance Plan) prior to the Original Vesting Date, or (ii) a pro-rata portion of such Remaining Portion, in the event the Participant suffers a Disability, or terminates employment due to death or Retirement, prior to the Original Vesting Date;

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NOW, THEREFORE, the Company has caused each Award Agreement to be amended as follows as of the Effective Time:

1.Following a Change in Control, the Remaining Portion covered by each Award Agreement will continue to vest, subject to the Participant’s continued employment through the Original Vesting Date, except as otherwise set forth in Sections 2 and 3 of this Amendment.  If the Remaining Portion vests pursuant to the preceding sentence, it will be paid to the Participant in accordance with the Award Agreement between January 1 and March 15 of the calendar year following the Original Vesting Date.

2.In the event of the Participant’s termination of employment by the Company without Cause or termination for Good Reason, in each case, following a Change in Control and prior to the Original Vesting Date, 100% of the Remaining Portion shall immediately vest and shall be paid to the Participant within 30 days following such termination of employment.

3.In the event the Participant suffers a Disability, or terminates employment due to death or Retirement, in each case, following a Change in Control and prior to the Original Vesting Date, a pro-rata portion of the Remaining Portion shall immediately vest and shall be paid to the Participant within 30 days following such termination of employment, and the remainder of the Remaining Portion shall be forfeited.  The pro-rata portion that vests pursuant to the preceding sentence shall be determined based on a fraction, the numerator of which is the number of complete months during which the Participant remained employed by the Company after the Change in Control date, and the denominator of which is the total number of complete months from the Change in Control date until the Original Vesting Date.  For purposes of this Section 3, a “complete month” shall refer to each full calendar month occurring between the Change in Control date and the Original Vesting Date and shall also include any partial calendar month during which the Change in Control occurs.

4.In the event of the Participant’s termination of employment with the Company following a Change in Control for any reason other than as described in Sections 2 or 3 of this Amendment, any previously unvested portion of the Remaining Portion shall be forfeited.

5.The provisions in this Amendment shall not limit the Committee’s ability to determine to pay out any Remaining Portion on an accelerated basis in connection with a Change in Control, in a manner that complies with Section 5(k) of the Plan.

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6.All provisions of the Award Agreements that are not expressly amended by this Amendment shall remain in full force and effect.

7.To the extent not preempted by the laws of the United States, the laws of the State of New York shall be the controlling law in all matters related to this Amendment without giving effect to the principles of conflicts of laws, and any dispute arising out of, relating to or in connection with the Amendment shall be subject to the same dispute resolution procedures as provided for in the applicable Award Agreement with respect to any dispute thereunder or, if no such procedures are provided for in any Award Agreement, as provided for in the Plan.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Company has duly executed this Amendment as of the date first set forth above.

                    
	
		
	 
	By:      L3 TECHNOLOGIES, INC.

	 
	/s/ Christopher E. Kubasik 
————————————————————
Christopher E. Kubasik
Chairman, Chief Executive Officer and President

	 
	 

	 
	/s/ Melanie M. Heitkamp 
————————————————————
Melanie M. Heitkamp
Senior Vice President and Chief Human Resources OfficerExhibit

Praxair, Inc. and Subsidiaries
	
	
	 

                                                                                                                                                                                 EXHIBIT 10.1
              
LIMITED WAIVER NO. 1
LIMITED WAIVER (this “Waiver”), dated as of June 22, 2018, to that certain Credit Agreement, dated as of December 19, 2014 (as amended, the “Credit Agreement”; capitalized terms used herein and not defined shall have the meaning set forth in the Credit Agreement), among Praxair, Inc., a Delaware corporation (the “Company”), the Eligible Subsidiaries party thereto from time to time, the lenders party thereto from time to time and Bank of America, N.A., as Administrative Agent.
W I T N E S S E T H:
WHEREAS, pursuant to Section 11.05 of the Credit Agreement, the Required Lenders agree to the waiver of Section 6.01(l) of the Credit Agreement in connection with the pending transaction with Linde AG as set forth herein.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
Section 1.Waiver.  
Subject to the satisfaction of the conditions set forth in Section 2 hereof, the Required Lenders hereby waive the operation of Section 6.01(l) of the Credit Agreement, but solely if the Company becomes a direct or indirect wholly owned subsidiary of one or more parent companies as a result of transactions conducted pursuant to the Business Combination Agreement, dated as of June 1, 2017, among the Company, Linde AG and certain other persons party thereto so long as no person or group of persons (within the meaning of Section 13 or 14 of the Securities Exchange Act of 1934, as amended) other than another parent company shall have beneficial ownership (within the meaning of Rule 13d-3 promulgated by the SEC under said Act) of 40% or more of the outstanding shares of common stock of such parent company (the “Waived Provision”).  For the avoidance of doubt, this Waiver shall apply only to the Waived Provision.
Section 2.Effectiveness.
This Waiver shall become effective upon the execution and delivery of this Waiver by the Company and the Required Lenders.
Section 3.Representations and Warranties.  The Company represents and warrants as follows:
(a)    No Default has occurred and is continuing; and
(b)    The representations and warranties of the Company contained in the Credit Agreement are true in all material respects (except that any such representation or warranty qualified as to materiality or by “Material Adverse Effect” is true in all respects) on and as of the date of the date hereof, except to the extent that any such representations or warranties refer specifically to an earlier date, in which case they were true as of such earlier date.

Section 4.Reference to and Effect on the Credit Agreement.  
On and after the effectiveness of this Waiver, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement and each of the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as waived by this Waiver. This Waiver is a “Loan Document” as defined under the Credit Agreement.  The Credit Agreement and each of the other Loan Documents, as specifically waived by this Waiver, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  The execution, delivery and effectiveness of this Waiver shall not, except as expressly provided herein, operate as an amendment or waiver of any right, power or remedy of any Lender under any of the Loan Documents, nor constitute an amendment or waiver of any provision of any of the Loan Documents.
Section 5.Execution in Counterparts. 
This Waiver may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Waiver by facsimile shall be effective as delivery of a manually executed counterpart of this Waiver.
Section 6.Governing Law. 
This Waiver shall be governed by, and con-strued in accordance with, the law of the State of New York.
[SIGNATURE PAGES FOLLOW][Praxair - Signature Page to Waiver No. 1]
               
IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be duly executed and delivered as of the day and year first above written.PRAXAIR, INC.
By:    /s/ Timothy S. Heenan        
Name: Timothy S. Heenan
Title: Vice President and Treasurer

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED,
As Lender
By:    /s/ Robert Grillo        
Name: Robert Grillo
Title: Director
Banco Santander, S.A.,
As Lender
By:    /s/    Benoit Felix        
Name: Benoit Felix
Title: Managing Director
By:    /s/    Victor Menendez    
Name: Victor Menendez
Title: Managing Director
BANK OF AMERICA, N.A.,
As Lender
By:    /s/    Mukesh Singh        
Name: Mukesh Singh
Title: Director

Bank of Communications Co., Ltd., New York Branch,
As Lender
By:    /s/ Shelley He            
Name: Shelley He
Title: Deputy General Manager
CITIBANK, N.A.,
As Lender
By:    /s/    John Tucker        
Name: John Tucker
Title: Vice President
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
As Lender
By:    /s/ Judith Smith        
Name: Judith Smith
Title: Authorized Signatory
By:    /s/ Brady Bingham        
Name: Brady Bingham
Title: Authorized Signatory

DEUTSCHE BANK AG NEW YORK BRANCH,
As Lender
By:    /s/ Ming K. Chu        
Name: Ming K. Chu
Title: Director
By:    /s/ Virginia Cosenza        
Name: Virginia Cosenza
Title: Vice President
HSBC Bank USA, National Association,
As Lender
By:    /s/ Peggy Yip            
Name: Peggy Yip
Title: Vice President
JPMorgan Chase Bank, N.A.,
As Lender
By:    /s/ Katherine L. Hurley        
Name: Katherine L. Hurley
Title: Vice President
Mizuho Bank, Ltd.,

As Lender
By:    /s/ Tracy Rahn        
Name: Tracy Rahn
Title: Authorized Signatory
MUFG BANK, LTD. F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
As Lender
By:    /s/ Maria Iarriccio        
Name: Maria Iarriccio
Title: Director
PNC Bank, National Association,
As Lender
By:    /s/ Steven A. Eberhardt        
Name: Steven A. Eberhardt
Title: Vice President
Toronto Dominion (Texas) LLC,
As Lender
By:    /s/ Annie Dorval        
Name: Annie Dorval

Title: Authorized Signatory

U.S. BANK NATIONAL ASSOCIATION,
As Lender
By:    /s/ Mark Irey        
Name: Mark Irey
Title: Vice President
Wells Fargo Bank, National Association,
As Lender
By:    /s/ Ashley Walsh        
Name: Ashley Walsh
Title: Director

[Praxair - Signature Page to Waiver No. 1]

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