SEC Filings

8-K
LINCOLN ELECTRIC HOLDINGS INC filed this Form 8-K on 11/21/2017
Entire Document
 


  (k) “Release” means the General Release and Waiver of Claims in substantially the form attached hereto as Annex C.

 

  (l) “Release Effective Date” means the date on which the Release becomes fully effective and no longer subject to revocation by the Executive; provided, however, that if the maximum period in which the Release may be revoked ends in the year following the year in which the Executive incurs a separation from service (within the meaning of Section 409A) (or, if Section 3(c) applies, in the year following the year in which the Change in Control occurs) then the Release Effective Date shall be deemed to be the later of (i) the first business day in the year following the year in which the Executive incurs the separation from service (within the meaning of Section 409A) (or, if Section 3(c) applies, in the year following the year in which the Change in Control occurs) or (ii) the Release Effective Date (without regard to this proviso).

 

  (m) “Section 409A” mean Section 409A of the Code and any proposed, temporary or final regulation, or any other guidance, promulgated with respect to Section 409A by the U.S. Department of Treasury or the Internal Revenue Service.

 

  (n) “Severance Period” means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control, or (ii) the Executive’s death.

 

  (o) “Subsidiary” means a corporation, company or other entity (i) more than 50 percent of whose outstanding shares or securities (representing the right to vote for the election of directors or other managing authority) are, or (ii) which does not have outstanding shares or securities (as may be the case in a partnership, joint venture, limited liability company, or unincorporated association), but more than 50 percent of whose ownership interest representing the right generally to make decisions for such other entity is, now or hereafter, owned or controlled, directly or indirectly, by the Company.

 

  (p) “Term” means the period commencing as of the date hereof and expiring on the close of business on December 31, 20__; provided, however, that:

 

  (i) commencing on January 1, 20__ and each January 1 thereafter, the Term will automatically be extended for an additional year unless, not later than June 30 immediately preceding the end of the Term (for example, June 30, 20__ in the case of the Term expiring on December 31, 20__), the Company, by action of the Board, or the Executive shall have given notice that it or the Executive, as the case may be, does not wish to have the Term extended;

 

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