SEC Filings

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

  16. Survival. Notwithstanding any provision of this Agreement to the contrary, the parties’ respective rights and obligations under Sections 1, 3(c), 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 16, 17, 19 and 20 will survive any termination or expiration of this Agreement or the termination of the Executive’s employment following a Change in Control for any reason whatsoever.


  17. Beneficiaries. The Executive will be entitled to select (and change, to the extent permitted under any applicable law) a beneficiary or beneficiaries to receive any compensation or benefit payable hereunder following the Executive’s death, and may change such election, in either case by giving the Company written notice thereof in accordance with Section 10. In the event of the Executive’s death or a judicial determination of the Executive’s incompetence, reference in this Agreement to the “Executive” will be deemed, where appropriate, to the Executive’s beneficiary, estate or other legal representative.


  18. Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together will constitute one and the same agreement.


  19. Insurance; Indemnification. During the Severance Period and through at least the fifth anniversary of the Executive’s Termination Date, the Company agrees to maintain the Executive as an insured party on all directors’ and officers’ insurance maintained by the Company for the benefit of its directors and officers on at least the same basis as all other covered individuals and to indemnify the Executive to the maximum extent permitted under the applicable law. During the Severance Period and while potential liability exists after the Executive’s Termination Date, the Company shall cover the Executive under directors’ and officers’ liability insurance in the same amount and to the same extent as the Company covers its other officers and directors.


  20. Recovery of Payments. Notwithstanding anything in this Agreement to the contrary, any payments made pursuant to this Agreement shall be subject to recovery by the Company pursuant to any clawback policy established by the Company in effect immediately prior to a Change in Control, including any policy adopted pursuant to Section 10D of the Exchange Act.


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