SEC Filings

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


  (b) In the event of the occurrence of a Change in Control, the Executive may terminate employment with the Company and all Subsidiaries during the Severance Period for Good Reason and the Executive will be entitled to the benefits provided by Section 4 regardless of whether any other reason, other than Cause, for such termination exists or has occurred, including without limitation other employment.

 

  (c) Any termination by the Company of the employment of the Executive, other than for Cause or pursuant to an individually negotiated arrangement, which occurs following the commencement of any discussion with a third person that results in a Change in Control within 12 months of such termination, will be deemed to be a termination of the Executive after a Change in Control and during the Severance Period for purposes of this Agreement, and in such event the Executive will be entitled to the benefits provided by Section 4.

 

  4. Severance Compensation and Change in Control Benefits.

 

  (a) (i)    If, following the occurrence of a Change in Control, the Company and all Subsidiaries terminate the Executive’s employment during the Severance Period other than pursuant to Section 3(a)(i), 3(a)(ii) or 3(a)(iii), or if the Executive terminates the Executive’s employment pursuant to Section 3(b), provided that the Executive has executed a Proprietary Information, Inventions and Restrictive Covenant Agreement substantially in the form attached hereto as Annex B and provided that, no later than forty-five (45) days after the Termination Date, the Executive executes the Release (and does not thereafter revoke the Release during any applicable revocation period), the Company (subject to Section 11(b)) will pay to the Executive the lump sum payment amounts described in Annex A within five business days after the Release Effective Date and will continue to provide to the Executive the benefits described in Annex A for the periods described therein.

 

      

(ii)    If the Executive becomes entitled to the benefits provided by this Section pursuant to Section 3(c), provided that the Executive has executed a Proprietary Information, Inventions and Restrictive Covenant Agreement substantially in the form attached hereto as Annex B and provided that, no later than forty-five (45) days after the date of the Change in Control, the Executive executes the Release (and does not thereafter revoke the Release during any applicable revocation period), the Company (subject to Section 11(b)) will pay to the Executive the lump sum payment amounts described in Annex A within five business days after the Release Effective Date and will continue to provide to the Executive the benefits described in Annex A for the periods described therein. Notwithstanding the foregoing, if the Change in Control is not a “change in control event” within the meaning of Section 409A and if the payment of the lump sum amounts or the provision of benefits pursuant to the preceding sentence

 

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