Document:

EX-4.7

 Exhibit 4.7 

AMENDMENT NO. 4 
 TO

 THE LINCOLN ELECTRIC COMPANY 

EMPLOYEE SAVINGS PLAN 

(AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2010) 

The Lincoln Electric Company, an Ohio corporation, hereby adopts this Amendment No. 4 to The Lincoln Electric Company Employee Savings
Plan (As amended and restated effective January 1, 2010) (the “Plan”), effective as of January 1, 2013, unless otherwise provided herein. 

I. 
 Section 1.1(4) of the
Plan is hereby amended by inserting the following new sentence immediately after the first sentence thereof: 
 “Effective as of
January 1, 2013, Base Compensation shall also include any commissions paid to those Employees of Vernon Tool Co., LTD who are classified as ‘direct sales associates’ (but shall not include commissions paid to any other Employees of an
Employer).” 
 II. 

Effective as of May 1, 2013, Section 1.1(15) of the Plan is hereby amended in its entirety to read as follows: 

“(15) Covered Employee: An Employee of an Employer, excluding, however, (a) any “leased employee”
(as defined in Section 1.1(19)) of such Employer, (b) prior to July 1, 1995, any Employees of the Harris Calorific Division of the Company, and (c) any Employees of J.W. Harris Co., Inc. other than Employees of its Harris
Products Group employed at its Gainesville location (formerly the Harris Calorific Division of J.W. Harris Co., Inc.). Notwithstanding the preceding provisions of this Section 1.1(15) or any 

 
other provision of the Plan to the contrary, (i) no Employee of Smart Force, LLC or of the Harris Products Group of J.W. Harris Co., Inc. employed at its Gainesville location (formerly the
Harris Calorific Division of J.W. Harris Co., Inc.), whose Employment Commencement Date, Reemployment Commencement Date or date of transfer to such company or location occurs on or after May 1, 2007 shall be a “Covered Employee” under
the Plan for any period of time on or after such Employment Commencement Date, Reemployment Commencement Date or date of transfer, (ii) no Employee of Smart Force, LLC or of the Harris Products Group of J.W. Harris Co., Inc. employed at its
Gainesville location (formerly the Harris Calorific Division of J.W. Harris Co., Inc.), who made an irrevocable election, pursuant to the retirement choice provided by J.W. Harris Co., Inc. in 2007, to become eligible to participate in the J.W.
Harris Co., Inc. Profit Sharing/401(k) Plan effective as of January 1, 2008, shall be a “Covered Employee” under the Plan for any period of time on or after January 1, 2008, and (iii) no Employee of the Seal Seat division of
Lincoln Global, Inc. whose Employment Commencement Date, Reemployment Commencement Date or date of transfer to such company or location occurs on or after May 1, 2013 shall be a “Covered Employee” under the Plan for any period of time
on or after such Employment Commencement Date, Reemployment Commencement Date or date of transfer.” 

  
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 III. 

Section 1.1(22) of the Plan is hereby amended by inserting a new sentence at the end thereof, to read as follows: 

“Further notwithstanding the foregoing, in the case of an Employee of Kaliburn, Inc. Employment shall include periods of employment with
ITT Corporation prior to November 14, 2012, provided that such Employee was an “Employee” (as defined in the Plan) on November 14, 2012.” 

IV. 
 Section 1.1(29) of the
Plan is hereby amended in its entirety to read as follows: 
 “(29) FSP Compensation: For any Plan Year, the
regular salary and/or wages, including overtime, vacation pay, shift and incentive premiums and regular pay adjustments but excluding Bonus Compensation, received by an FSP Participant or an FSP Plus Participant from the Employer during the Plan
Year while an FSP Participant or an FSP Plus Participant, as applicable, provided, however, that for the initial Plan Year that an Employee first becomes either an FSP Participant or an FSP Plus Participant (excluding an Employee who first becomes
an FSP Participant on July 16, 2006), FSP Compensation shall be deemed to include the regular salary and/or wages, including overtime, vacation pay, shift and incentive premiums and regular pay adjustments but excluding Bonus Compensation,
received by the Employee from the Employer for the two calendar months preceding the date that he became an FSP Participant or FSP Plus Participant. Notwithstanding the foregoing, (a) FSP Compensation shall not include any amounts received from
J.W. Harris Co., Inc. (or prior to May 1, 2006, Harris Calorific, Inc.), Lincoln Global, Inc., Torchmate, Inc. or Smart Force, LLC (or prior to January 1, 1999, the Harris Calorific Division or the Seal Seat Division of the Company)
provided, however, that FSP Compensation shall include amounts received from Lincoln Global, 

  
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Inc. by an FSP Participant or an FSP Plus Participant who continues to be treated as an Employee of the Company, as provided in Section 2.7(3) of the Plan, (b) FSP Compensation shall
not include any amounts received from Kaliburn, Inc. for periods prior to January 1, 2013, and (c) FSP Compensation of an Employee taken into account for any purpose under the Plan for any Plan Year shall not exceed $200,000 (as adjusted
for cost-of-living increases in accordance with section 401(a)(17)(B) of the Code). Effective as of January 1, 2009, the term “FSP Compensation” shall not include any differential wage payments (within the meaning of section
3401(h)(2) of the Code) received by an FSP Participant or an FSP Plus Participant from the Employer.” 
 V. 

Section 1.1(63) of the Plan is hereby amended by inserting a new paragraph (e) at the end thereof, to read as follows: 

“(e) Further notwithstanding any other provision of the Plan to the contrary, in the case of an Employee of Kaliburn,
Inc., Years of Vesting Service shall also include periods of employment with ITT Corporation prior to November 14, 2012, provided that such Employee was an “Employee” (as defined in the Plan) on November 14, 2012.” 

VI. 
 Section 1.1(64) of the
Plan is hereby amended by inserting a new sentence at the end thereof, to read as follows: 
 “Notwithstanding any other provision of
the Plan to the contrary, in the case of an Employee of Kaliburn, Inc., Years of Eligibility Service shall also include periods of employment with ITT Corporation prior to November 14, 2012, provided that such Employee was an
“Employee” (as defined in the Plan) on November 14, 2012.” 

  
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 VII. 

Section 2.4(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, Vernon
Tool Co., LTD or Kaliburn, Inc.” 
 VIII. 

Exhibit A to the Plan is hereby amended in its entirety to read as follows: 

“EXHIBIT A 

Participating Employers 
 as of
January 1, 2013 
 The Lincoln Electric Company 

J.W. Harris Co., Inc., solely with respect to its Employees who are “Covered Employees” as defined in the Plan. 

Lincoln Global, Inc. 
 Welding,
Cutting, Tools & Accessories, LLC. 
 Smart Force, LLC. 

Vernon Tool Co., LTD 
 Torchmate,
Inc. (for the period beginning October 1, 2011 through December 31, 2012) 
 Kaliburn, Inc.” 

EXECUTED this 10th day of May, 2013. 
  

			
	THE LINCOLN ELECTRIC COMPANY
		
	By:		 /s/ Vincent Petrella

	Title:		Senior Vice President and Chief Financial Officer

  
 -5-EX-4.8

 Exhibit 4.8 

AMENDMENT NO. 5 
 TO

 THE LINCOLN ELECTRIC COMPANY 

EMPLOYEE SAVINGS PLAN 

(AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2010) 

The Lincoln Electric Company, an Ohio corporation, hereby adopts this Amendment No. 5 to The Lincoln Electric Company Employee Savings
Plan (As amended and restated effective January 1, 2010) (the “Plan”), effective as of January 1, 2010. 
 I. 

Section 1.1(37) of the Plan is hereby amended in its entirety to read as follows: 

“(37) Holdings Stock: Stock that constitutes “qualifying employer securities,” including voting or
non-voting common stock of Lincoln Electric Holding, Inc. The term “qualifying employer securities,” as defined in Section 409(l) of the Code, means common stock issued by the Employer (or by a Controlled Group Member) which is
readily tradable on an established securities market. If there is no common stock which meets the requirements of the previous sentence, the term “employer securities” means common stock issued by the Employer (or by a Controlled Group
Member) having a combination of voting power and dividend rights equal to or in excess of (i) that class of common stock of the Employer (or of any such Controlled Group Member) having the greatest voting power, and (ii) that class of
common stock of the Employer (or of any such Controlled Group Member) having the greatest dividend rights.” 

 II. 

Section 3.6(2) of the Plan is hereby amended by adding the following new sentence at the end thereof to read as follows: 

“Notwithstanding the foregoing, for purposes of this Subsection (2), Qualified Nonelective Contributions shall not be taken into account
for a Plan Year for any Eligible Employee who is not a Highly Compensated Employee to the extent such Contributions exceed the product of such Eligible Employee’s compensation and the greater of 5% or two times the Plan’s
“representative contribution rate” (as defined in Treasury Regulation Section 1.401(k)-2(a)(6)(iv)(B)).” 
 III. 

Section 3.7(2) of the Plan is hereby amended by adding the following new sentence at the end thereof to read as follows: 

“Notwithstanding the foregoing, for purposes of this Subsection (2), Qualified Nonelective Contributions shall not be taken into account
for a Plan Year for any Eligible Employee who is not a Highly Compensated Employee to the extent such Contributions exceed the product of such Eligible Employee’s compensation and the greater of 5% or two times the Plan’s
“representative contribution rate” (as defined in Treasury Regulation Section 1.401(m)-2(a)(6)(v)(B)).” 

  
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 IV. 

Section 5.8 of the Plan is hereby amended by adding the following new sentence at the end thereof to read as follows: 

“Notwithstanding any other provision of the Plan to the contrary, any dividends reinvested in the Holdings Stock Fund pursuant to this
Section 5.8 shall be 100% vested and nonforfeitable at all times.” 
 V. 

The first sentence of Section 6.10(2) of the Plan is hereby amended in its entirety to read as follows: 

“In accordance with sections 409(h)(4), (5) and (6) of the Code, if the Holdings Stock is or becomes not readily tradable on an
established market, then any Member who is otherwise entitled to a total distribution from the Plan shall have the non-terminable right (hereinafter referred to as the “Put Option”) to require that his Holdings Stock be repurchased by the
Company.” 
 VI. 
 The
last sentence of Section 14.1 of the Plan is hereby amended in its entirety to read as follows: 
 “A Member has the right to
instruct the Trustee with respect to voting shares of Holdings Stock on all matters which involve the voting of such shares, including the exercise of any appraisal rights, dissenters’ rights or similar rights granted by applicable law to the
registered or beneficial holders of Holdings Stock.” 

  
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 EXECUTED this 28th day of April, 2014. 

 

			
	THE LINCOLN ELECTRIC COMPANY
		
	By		 /s/ Gretchen Farrell

		
	Title:		  

  
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