Document:

AMENDMENT #2 TO MGMT. AGRMT. 10/10/2000 (COLLINS)

  

EXHIBIT 10.36

AMENDMENT NO. 2

TO

MANAGEMENT AGREEMENT

OF

ROBERT P. COLLINS

               THIS AMENDMENT NO. 2 is made this 10th day of October, 2000, by and between SCOTT TECHNOLOGIES, INC., a
Delaware corporation (hereinafter referred to as the "Company") and Robert P. Collins, an executive officer of the Company (hereinafter referred to as the "Executive"):

W I T N E S S E T H:

                    WHEREAS, on December 18, 1998 the Company and the Executive entered into a
Management Agreement (hereinafter referred to as the "Agreement"); and

                    WHEREAS, the Company and the Executive desire to make certain amendments
to the Agreement;

                    NOW, THEREFORE, pursuant to Section 6.3 of the Agreement and effective as
of October 1, 1999, the Company and the Executive hereby amend Section 4.7 of the Agreement by the deletion of said Section and the substitution in lieu thereof of a new Section 4.7 to read as follows:

	 	          "4.7       Vesting of Stock Options. In the event of a Change in
Control the Committee under the Option Plan will cause certain of the stock options granted to the Executive pursuant to the Option Plan to become immediately exercisable as follows:
	 	 	 
	 	a.	Service Based Options. Options which would otherwise become exercisable solely upon the passage of time regardless of the price of a Share of Common Stock of the
Company shall become exercisable in full  

	 	 	 upon the Change in Control.
	 	 	 
	 	b.	Performance Based Options. Options which would otherwise become exercisable upon the attainment of a specified price of a Share of Common Stock of the Company shall
become exercisable to the extent that the sales price in the Change in Control transaction satisfies the price targets set forth in the Option Agreement, without regard to the 20 consecutive day price maintenance requirement of the Option
Agreement.
		 	
		 	          In addition, to the extent that the sales price in the Change in Control transaction is above the Option Price
per share of Common Stock of the Company, is below the value per share at which all of the options would be exercisable and is not equal to a value per share at which a specific part of the option becomes exercisable (each such values are
hereinafter referred to as 'price targets'), a part of the option shall become exercisable equal to the number of additional Shares which would have become exercisable had the sales price been at the next highest price target multiplied by a
fraction the numerator of which shall equal the amount by which the sales price in the Change in Control transaction exceeds the next lower price target and the denominator of which shall equal the amount by which the next highest price target
exceeds the next lower price target.
		 	
		 	          In addition to the above provisions with respect to the exercisability of the stock option shares in the event
of a Change in Control, the Stock Option Committee may in its sole discretion, waive any or all remaining higher stock option price targets and determine to make  

		 	any or all of such remaining shares exercisable.
		 	
		Such stock options as become exercisable in accordance with the preceding provisions shall remain so exercisable until the end of the original term of the option without regard to
any provision of the stock option providing for early termination of the option. The `price targets' referred to in the preceding paragraph will be adjusted for any stock split, stock dividend, combination or exchange of shares, exchange for other
securities, reclassification, reorganization, redesignation, merger, consolidation, recapitalization, spin-off, split-off, split-up or other such change in accordance with the provisions of Section 8 of the Stock Option Agreement between the
Executive and the Company."
		 	
	                             
       IN WITNESS WHEREOF, the Company, by its duly authorized officers, and the Executive have executed this Amendment No. 2 as of the day and year first above written.

	 	SCOTT TECHNOLOGIES, INC.

         
	 	            ("Company")
	 	 
	 	By                             
                             
	 	 
	 	                            
                                 

Robert P. Collins ("Executive")AMENDMENT #3 TO MGMT. AGRMT. 11/15/2000 (COLLINS)

 

EXHIBIT 10.37

 

AMENDMENT NO. 3

TO

MANAGEMENT AGREEMENT

OF

ROBERT P. COLLINS

	
	
	
	                 THIS AMENDMENT NO. 3 is made this 15 day of November, 2000, by and between
SCOTT TECHNOLOGIES, INC., a Delaware corporation (hereinafter referred to as the "Company") and Robert P. Collins, an executive officer of the Company (hereinafter referred to as the "Executive"):
		 	
	
	 W I T N E S S E T H:

		 	
	                             
    WHEREAS, on December 18, 1998 the Company and the Executive entered into a Management Agreement (hereinafter referred to as the "Agreement"); and
		 	
	                             
    WHEREAS, the Company and the Executive agree that it is desirable to provide for a special extension of the Agreement to March 16, 2001;
		 	
	                             
    NOW, THEREFORE, pursuant to Section 6.3 of the Agreement and effective as of December 16, 2000, the Company and the Executive hereby amend the second paragraph of Section 1 of the Agreement by the deletion of said paragraph
and the substitution in lieu thereof of a new paragraph to read as follows:
		 	
		                       "The initial period will be extended
to March 16, 2001 ('Special Extended Period') at the end of the initial period, and then will be automatically extended for one (1) year commencing at the end of the Special Extended Period and each successive year thereafter. However, either party
may terminate this Agreement at the end of the Special Extended Period, or at the end of any successive one (1) year period, by giving the other party written notice of intent not to renew, delivered at least thirty (30) days prior to the
		 

		end of such Special Extended Period or successive one (1) year period."
		 	
	                             
       IN WITNESS WHEREOF, the Company, by its duly authorized officers, and the Executive have executed this Amendment No. 3 as of the day and year first above written.

	 	SCOTT TECHNOLOGIES, INC.

          ("Company") 
	 	 
	 	By                            
                              
	 	 
	 	                            
                                  

Robert P. Collins ("Executive")SEPARATION AGREEMENT DATED 11/10/2000

 

EXHIBIT 10.38

SEPARATION AGREEMENT

 

               This SEPARATION AGREEMENT ("Agreement") is entered into as of this 10th
day of November, 2000, by and between Scott Technologies, Inc. (the "Company") and Glen W. Lindemann (the "Executive").

               WHEREAS, the Company and the Executive have arrived at a satisfactory agreement regarding the
basis upon which the employment of the Executive with the Company will terminate; and

               WHEREAS, the Company and the Executive desire to set forth in a written agreement the terms and
provisions of certain severance and other payments to be made to the Executive under certain circumstances;

               NOW THEREFORE, in consideration of the foregoing, the mutual covenants and agreements set forth
in this Agreement and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive agree as follows:

Section 1.  Employment Termination Or Death

               1.1     Termination Date. The Company and the Executive agree
that the Executive's employment with the Company will terminate as of December 31, 2000 (the "Termination Date"). Such termination shall not be deemed to be a "retirement" under the existing Amended and Restated Management
Agreement between the Company and the Executive but the provisions of the Management Agreement relating to severance benefits, severance pay, vesting of stock options, disclosure and use of information, co-operation, and injunctive relief are hereby
superseded and null and void.

 

               1.2      Termination On The Termination Date.  In the event
the Executive terminates employment with the Company on the Termination Date, this Agreement will become effective, the Executive will be entitled to receive the Severance Benefits set forth in Section 2.1 hereof and, if he qualifies therefor, the
Executive will become entitled to the Severance Pay set forth in Section 2.2 hereof.

               1.3      Termination Or Death Prior To The Termination Date.
  In the event the employment of the Executive with the Company terminates or the Executive dies prior to the Termination Date, the Management Agreement dated August 17, 1998 between the Company and the Executive will govern and this Agreement
will not be deemed to have become effective.

               1.4      Continued Employment Beyond The Termination Date. 
In the event the Executive continues in the employment of the Company beyond the Termination Date, the Management Agreement dated August 17, 1998 between the Company and the Executive will govern and this Agreement will not be deemed to have become
effective.

               1.5      Death After The Termination Date.  In the event the
Executive terminates employment with the Company on the Termination Date and subsequently dies prior to the end of the twenty-four (24) month period described in Section 2.2a. hereof, his spouse or beneficiary, including the executor or
administrator of his estate where applicable, shall be entitled to receive any payments described in Paragraphs a, b, c, d, e, f, and h of Section 2.1 and Paragraphs a and b of Section 2.2 hereof which remain unpaid on the death of the Executive. In
addition, his spouse will be entitled to COBRA Continuation Coverage for the greater of thirty-six months measured from December 31, 2000 or the end of the period described in Section 2.2c. Hereof Finally, the benefits payable under any retirement
or 

 

other employee benefit plan or program upon the death of the Executive shall be determined in accordance with the terms of the respective plan or program.

Section 2.  Severance Benefits and Severance Pay.

                2.1     Severance Benefits. If the Executive terminates his
employment pursuant to Section 1.2 hereof, the Company will, in lieu of any other severance which may otherwise be payable:

	 	a. 	 	Pay to the Executive in a cash lump sum a full bonus under the Bonus Plan with respect to the 2000 year, which Bonus shall be calculated using the formula contained in the Bonus
Plan based on the actual results of the Company for such year but without any discretionary reduction of the amounts payable to the Executive that might otherwise be permitted under the Bonus Plan. Such bonus will be paid to the Executive on the
same day as bonuses under the Bonus Plan are paid to the executives of the Company who are still employed with the Company.
	 	 	 	 
	 	b.	 	Pay for the costs of outplacement services actually used by the Executive; provided, however, that the total fee paid for such services will be limited to an amount equal to
seventeen percent (17%) of the Executive's annual base salary rate as of the Termination Date.
	 	 	 	 
	 	c.	 	Pay to the Executive a cash lump sum, net of taxes, equal to twelve (12) months of the monthly car allowance then applicable to the Executive. Such payment shall be paid to the
Executive within thirty (30) days following the Termination Date.
	 	 	 	 
	 	d.	 	
Cause all stock options granted to the Executive pursuant to the Company's Key Employees' Stock Option Plan (the "Option Plan") to become 

 

	 	 	 	immediately exercisable in full and to remain fully exercisable until the earlier of the date of expiration of the option or one (1) year after the Termination Date.
	 	 	 	 
	 	e.	 	Provide to the Executive tax and/or legal consultation with respect to the benefits granted hereunder up to a maximum cost to the Company of Five Thousand Dollars ($5,000.00);
	 	 	 	 
	 	f.	 	Provide assistance to the Executive in obtaining the financing necessary for the Executive to exercise his stock options during the period specified in Section 2.1d.
hereof;
	 	 	 	
	 	g. 	 	Continue to be obligated to pay when due all other benefits to which the Executive has a vested right according to the provisions of any applicable retirement or other benefit plan
or program; and
	 	 	 	
	 	h. 	 	Pay to the Executive in a cash lump sum a special compensation award of Ninety Thousand Dollars ($90,000.00) ("Special Compensation Award"); provided, however, that
payment of the Special Compensation Award shall be conditioned upon the Executive executing a release which is substantially identical, except for the date, to the release described in Section 4 hereof ("Second Release") as of December 31,
2000. Subject to the execution of the Second Release, the Special Compensation Award shall be paid to the Executive within thirty (30) days following the end of the twenty-four (24) month period described in Section 2.2a. hereof.
	 	 	 	 

             2.2      Severance Pay. If the Executive executes the Non-Competition
Agreement attached hereto and delivers such executed Agreement to the Company no later than thirty (30) days after the date this Agreement is executed, and if the Executive terminates his 

 

employment pursuant to Section 1.2 hereof, the Executive shall be entitled to Severance Pay as follows:

	 	a.	 	At the election of the Executive, the Company shall either continue to pay to the Executive for the twenty-four (24) months following the Termination Date, his monthly base salary
at the rate in effect as of the Termination Date in accordance with the Company's normal payroll practices or make a lump sum payment to the Executive of the amount due above. Any such lump sum will be payable within thirty (30) days after the date
the Company receives written notice of the Executive's election to receive the lump sum but in no event prior to January 1, 2001.
	 	 	 	 
	 	b.	 	Regardless of which payment option is selected by the Executive, the Company, throughout such twenty-four (24) month period, will continue the Executive's life insurance and health
care benefits coverage on the same terms and at the same cost to the Executive as would be applicable to a similarly situated full-time employee; provided, however, that in the event the Executive begins to receive comparable life insurance and
health care benefits (determined at the sole discretion of the Company) from a subsequent employer during such period, the Company may immediately terminate its life insurance and health care benefits coverage of the Executive.
	 	 	 	 
	 	c. 	 	If the Executive continues health care benefits coverage for the entire twenty-four (24) month period of described in Section 2.2b. hereof, the Executive will be eligible for health
care continuation coverage under the Consolidated Omnibus Budget Reconciliation Act ("COBRA Continuation 
	 	 	 	 

 

	 	 	 	Coverage") commencing as of the first day of the twenty-fifth (25th) month after the Termination Date. The Executive will be required to pay the same cost as applies to other
persons covered by COBRA Continuation Coverage.

Section 3.  Covenants.

               3.1      Disclosure or Use of Information. The Executive will at
all times during and after the term of his employment by the Company keep and maintain the confidentiality of all Confidential Information and will not at any time either directly or indirectly use such information for his own benefit or otherwise
divulge, disclose or communicate such information to any person or entity in any manner whatsoever other than employees or agents of the Company or its Affiliates who have a need to know such information and then only to the extent necessary to
perform their responsibilities on behalf of the Company or its Affiliates. As used herein, "Confidential Information" will mean any and all information (excluding information in the public domain) which relates to the business of the
Company and its Affiliates including without limitation all patents and patent applications, copyrights applied for, issued to or owned by the Company or any of its Affiliates, inventions, trade secrets, computer programs, engineering and technical
data, drawings or designs, manufacturing techniques, information concerning pricing and pricing policies, marketing techniques, suppliers, methods and manner of operations, and information relating to the identity and/or location of all past,
present and prospective customers of the Company and its Affiliates.

               3.2      Cooperation.  During the term of his employment by
the Company after the date this Agreement is executed and for a period of twenty-four (24) months following the Termination Date, the Executive will not attempt to induce any employee of the Company or an Affiliate to terminate his or her employment
with the Company or an Affiliate nor will

 

 he take any action with respect to any of the suppliers or customers of the Company and its Affiliates which would have or might be likely to have an adverse effect upon the business of the
Company and its Affiliates. Executive hereby agrees not to make any statement or take any action, directly or indirectly, that will disparage or discredit the Company and its Affiliates, their Officers, Directors of the Company, their employees or
any of their products, or in any way damage their reputation or ability to do business or conduct their affairs. Executive agrees that subsequent to the Termination Date he will, in conjunction with a Company request, reasonably co-operate with the
Company in connection with transition matters, disputes and litigation matters upon reasonable notice, at reasonable times, and will be paid or reimbursed for reasonable expenses incurred by the Executive relating to such matters.

               3.3      Injunctive Relief. In the event of a breach or
threatened breach of any of the provisions of this Section 3 by the Executive, the Company will be entitled to preliminary and permanent injunctive relief, without bond or security, sufficient to enforce the provisions thereof and the Company will
be entitled to pursue such other remedies at law or in equity as it deems appropriate.

Section 4.  Release Of All Claims.

               In return for the Special Compensation Award described in Section 2.1h. hereof and the other provisions
of this Agreement, the Executive hereby knowingly and voluntarily waives and releases all rights and claims, known and unknown, which the Executive may have against the Company, or any of its Affiliates or Successors, or any of their officers,
directors, managers, employees or representatives, from the beginning of time to the date the Executive signs this Agreement, including but not limited to all rights or claims regarding the Executive's employment with the Company and the termination
of his 

 

employment, except that such waiver will not be deemed to apply to any pension or retirement benefits, or any qualified plan benefits which might vest on the Executive's behalf prior to the
Termination Date. This includes a release of any rights or claims the Executive may have under the Federal Age Discrimination in Employment Act; the Federal Americans with Disabilities Act, sections 503 and 504 of the Federal Rehabilitation
Act, Title VII of the 1964 Civil Rights Act, as amended, or any other federal, state or local law or regulation prohibiting employment discrimination or restricting an employer's right to terminate employees. This also includes a release by the
Executive of all claims or rights for wrongful discharge, defamation, intentional interference with contract or economic advantage, invasion of privacy, and for any alleged physical or emotional distress on any basis whatsoever. In addition, the
Executive hereby waives and releases any and all rights, demands or claims to future employment by the Company or any of its Affiliates or Successors.

This Agreement and the release contained in the preceding paragraph, extends to all claims of every kind or nature whatsoever, whether known or unknown, suspected or unsuspected but does not
constitute a release of claims under this Agreement.

	Section 5.	Miscellaneous.
	 	 	 
	 	5.1	Definitions.
	 	 	 	 
	 	a.  	 	The term "Affiliate" shall mean any entity controlling, controlled by or under common control with the Company, including, but not limited to, divisions and subsidiaries
of the Company.
	 	 	 	 
	 	b.	 	The term "Successor" will include any person, firm, corporation or business entity which acquires all or substantially all of the assets or succeeds to the business of the
Company.

 

               5.2      Tax Withholding. The Company may withhold from any
benefits payable under this Agreement all federal, state, city, or other taxes as may be required pursuant to any law or governmental regulation or ruling.

                5.3     Governing Law. To the extent not preempted by
federal law, the provisions of this Agreement will be construed and enforced in accordance with the laws of the State of Ohio.

               5.4      Indemnification.  If the Internal Revenue Service
asserts that the amounts payable to the Executive under this Agreement give rise to an excise tax under Section 4999 of the Internal Revenue Code and the Executive co-operates with the Company in appealing the determination of the Internal Revenue
Service through whatever level of administrative or judicial appeals is deemed appropriate by the Company, the Company shall indemnify the Executive for the amount of such excise tax, for any interest and penalties applicable thereto, and for any
income or excise taxes payable on such indemnification. The Company shall pay all costs of challenging the determination that the excise tax applies to payments hereunder including any administrative costs, court costs, attorney fees, and accounting
fees, whether incurred by the Company or incurred by the Executive.

               5.5      Successors.  This Agreement is personal to the
Executive and will not be assignable by him without the prior written consent of the Company except that he can assign any payments under this Agreement (but not any of his obligations under this Agreement) to his spouse or to his estate. This
Agreement may be assigned or transferred to and will be binding upon and inure to the benefit of any Successor of the Company.

               5.6      Entire Agreement.  As of the execution date of this
Agreement, the Company and the Executive agree that this Agreement shall become effective as of the Termination

 

 Date and shall replace the Management Agreement dated August 17, 1998 between the Company and the Executive as of the Termination Date if and only if the Executive terminates employment with
the Company on the Termination Date. If and when this Agreement has become effective, it shall supersede any other prior agreements or understandings, oral or written, between the Executive and the Company with respect to the subject matter hereof
and shall constitute the entire agreement of the parties with respect thereto.

               5.7      Modification.  This Agreement will not be varied,
altered, modified, canceled, changed, or in any way amended except by mutual agreement in a written instrument executed by the Company and the Executive or their legal representatives.

               5.8      Execution of Agreement.   In executing this
Agreement, the parties acknowledge that they do so freely and voluntarily after having had ample time to fully consider and reflect upon their decision to enter into this Agreement, and not as a result of any duress, fraud or undue influence exerted
by either party upon the other. In addition, the Executive acknowledges that he has read this Agreement carefully, that he has been advised by the Company to consult an attorney or other independent advisor of his own choosing, and that he has
determined that it is in his best interest to enter into this Agreement.

               5.9      Periods For Consideration and Revocation.  The
Executive acknowledges that he has been given the right to a period of at least twenty-one (21) days, if he so desires, within which to consider entering into this Agreement and that he further has seven (7) days following execution of
this Agreement to revoke it. This Agreement shall not become effective or enforceable until the later of the Termination Date and the date the revocation period has expired.

 

               IN WITNESS WHEREOF, the Executive and the Company have executed this Agreement as of the day and
year first above written.

Scott Technologies, Inc.

 

By:____________________________________

 

And:___________________________________

 

______________________________________

                     Glen W. Lindemann

 

NON-COMPETITION AGREEMENT

               In consideration of the promises and covenants of Scott Technologies, Inc. (the "Company")
contained in the Separation Agreement between the Executive and the Company including the possible payment of twenty-four (24) months of Severance Pay to the Executive under certain circumstances, the Executive hereby agrees that the Executive will
not, for a period of two (2) years after December 31, 2000, directly or indirectly, for himself or for others, in any state of the United States or in any foreign country where the Company or any of its Affiliates (as defined below) is then
conducting business:

	 	(1) 	 	engage, as an employee, partner, or sole proprietor, in any business segment of any person or entity which competes, directly or indirectly, with the product lines of the Company or
its Affiliates; or
	 	 	 	 
	 	(2)	 	in connection with any product lines of the Company or its Affiliates, render advice, consultation, or services to or otherwise assist any other person or entity which competes,
directly or indirectly, with the Company or any of its Affiliates with respect to such product lines.

For the purposes of this Non-Competition Agreement, the term "Affiliates" shall mean any entity controlled by or under common control with the Company during the period the Executive
is employed by the Company or a division or subsidiary of the Company, including, but not limited to, Company divisions and subsidiaries.

               In the event of a breach or threatened breach of any of the provisions of this Non-Competition Agreement
by the Executive, the Company will be entitled to preliminary and permanent injunctive relief, without bond or security, sufficient to enforce the provisions hereof and the Company will be entitled to pursue such other remedies at law or in equity
as it deems appropriate.

               The Executive understands that the foregoing restrictions may limit his ability to engage in certain
business pursuits during the period provided for above, but acknowledges 

 

that he will receive sufficiently higher Severance Pay from the Company than he would otherwise receive to justify such restriction. The Executive acknowledges that he understands the effect of
the provisions of this Non-Competition Agreement, that he has had reasonable time to consider the effect of these provisions, and that he was encouraged to and had an opportunity to consult an attorney with respect to these provisions. The Company
and the Executive consider the restrictions contained in this Non-Competition Agreement to be reasonable and necessary. Nevertheless, if any aspect of these restrictions is found to be unreasonable or otherwise unenforceable by a Court of competent
jurisdiction, the parties intend for such restrictions to be modified by such Court so as to be reasonable and enforceable and, as so modified by the Court, to be fully enforced.

               IN WITNESS WHEREOF, the Executive has executed this Non-Competition Agreement as of this
10th
day of November, 2000.

______________________________________

                     Glen W. Lindemann

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