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Termination Agreement > INSTRUMENT OF TERMINATION OF THE LINCOLN ELECTRIC HOLDINGS, INC. DEFERRED COMPENSATION PLAN (AS AMENDED AND RESTATED AS OF JANUARY 1, 2002), AS AMENDED
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INSTRUMENT OF TERMINATION OF
THE
LINCOLN ELECTRIC HOLDINGS, INC. DEFERRED COMPENSATION PLAN
(AS AMENDED AND RESTATED AS OF JANUARY 1, 2002), AS
AMENDED
WHEREAS,
Lincoln Electric Holdings, Inc. (the “Company”) adopted
the Lincoln Electric Holdings, Inc. Deferred Compensation Plan,
originally effective as of November 15, 1994, as amended and
restated as of January 1, 2002, as amended (the
“Plan”); and
WHEREAS,
Section 7.3 of the Plan reserves to the Company the right to
terminate and amend the Plan.
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NOW, THEREFORE,
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1.
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Subject to the following provisions
of this Instrument of Termination, the Company hereby terminates
the Plan effective December 23, 2005 (the “Termination
Date”), or, if termination cannot be completed, hereby amends
the Plan as of December 30, 2005 (the “Amendment
Date”).
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2.
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The
Account (as defined in the Plan) as of the Termination Date of any
person who does not consent to such termination, as required by
Section 7.3 of the Plan, will be administered in accordance
with the terms of the Plan prior to such termination; provided,
however, that the Company intends t
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