Exhibit 10.31

AMENDMENT REGARDING IRC § 409A
TO
EXECUTIVE EMPLOYMENT AGREEMENT

The Executive Employment Agreement (“Agreement”) entered into on August 7, 2006, by and among Thermadyne Holdings Corporation (“Holdings”), a Delaware corporation, and any and all the wholly owned subsidiaries of Holdings (collectively, “Employers”), and Steven A. Schumm (“Employee”), is hereby amended as follows, effective as of the date of the Agreement, such that, consistent with the intent of the parties, the Agreement will comply with relevant provisions of Section 409A of the Internal Revenue Code of 1986, as amended:

1. Capitalized terms used in this Amendment without definition have the meanings set forth in the Agreement.

2. Notwithstanding any inconsistent term or condition in the Agreement:

If the Employee is a “specified employee” (within the meaning of Section 409(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended, (“Code”)) at the time of his termination of employment with the Employers and is entitled to payments under the Agreement which are on account of “involuntary separation of service” within the meaning of Treasury Regulation Section 1.409A-l(n), amounts payable to the Employee, notwithstanding anything in this Agreement to the contrary, during the first six (6) consecutive months immediately following the month in which such termination of employment occurs shall be suspended after the total of such payments equal the lesser of the amount specified under Treasury Regulation 1.409A-l(a)(9)(iii)(A)(l) or (2). If the Employee is such a “speci