Common use of Dividend Equivalents and Other Rights Clause in Contracts

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares on a deferred basis and contingent on vesting of the Performance Shares. Dividend equivalents on the Performance Shares covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to the extent such dividend equivalents are attributable to Performance Shares that have become Vested. To the extent that Performance Shares covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) ), to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares RSUs as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest RSUs become nonforfeitable pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. the Company shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such Such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to on the extent date of payment of such dividend equivalents are attributable to Performance Shares that have become Vested. To dividends by the extent that Performance Shares covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeited. No interest shall be payable with respect to any such dividend equivalentsCompany. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 109, to the extent that any of the Performance Shares Vest RSUs become vested pursuant to this Agreement and the Grantee elects pursuant to Section 9 8 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date (and dividend equivalents with respect thereto) in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. the Company shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on the vesting of the Performance SharesRSUs. Dividend equivalents on in the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) ), to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednon-forfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 6 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares RSUs as described in Section 10(b9(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 109, to the extent that any of the Performance Shares Vest RSUs become vested pursuant to this Agreement and the Grantee elects pursuant to Section 9 8 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date (and dividend equivalents with respect thereto) in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. the Company shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) additional Common Shares to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. Any fraction of a Common Share shall be paid in cash at the Distribution Date. (c) Under no circumstances circumstances, will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) RSUs until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares until the Grantee receives such Common Shares on or RSUs under after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares covered by this Agreement; provided, however, that any additional Common Shares, share rights or other -4- ‌ NAI-1538211792v2 ​ securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares on a deferred basis and contingent on vesting of the Performance Shares. Dividend equivalents on the Performance Shares covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to the extent such dividend equivalents are attributable to Performance Shares that have become Vested. To the extent that Performance Shares covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement.. ​ ​ (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) ), to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares RSUs as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest RSUs become nonforfeitable pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares on a deferred basis and contingent on vesting of the Performance Shares. Dividend equivalents on the Performance Shares covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to the extent such dividend equivalents are attributable to Performance Shares that have become Vested. To the extent that Performance Shares covered by ​ ​ ​ this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) ), to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares RSUs as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest RSUs become nonforfeitable pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.. ​ ​

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement.. NAI-1538211794v2 ​ ​ (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) ), to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares RSUs as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest RSUs become nonforfeitable pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. ​ (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares covered by this Agreement.. ​ ​ (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares on a deferred basis and contingent on vesting of the Performance Shares. Dividend equivalents on the Performance Shares covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to the extent such dividend equivalents are attributable to Performance Shares that have become Vested. To the extent that Performance Shares covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents.. ​ (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares until the Grantee receives such Common Shares on or after the Distribution Date.. ​ (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.. ​

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. the Company shall be subject to the same restrictions as the Performance Shares covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares on a deferred basis and contingent on vesting of the Performance Shares. Dividend equivalents on the Performance Shares covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to the extent such dividend equivalents are attributable to Performance Shares that have become Vested. To the extent that Performance Shares covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances circumstances, will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares beyond the Distribution Date such vesting date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Datesuch vesting date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. the Company shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) ), to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vested. To vested as of or prior to the extent that Performance Shares covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeitedDistribution Date. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance with respect to the Common Shares underlying the RSUs as described in Section 10(b9(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 109, to the extent that any of the Performance Shares Vest RSUs become vested pursuant to this Agreement and the Grantee elects pursuant to Section 9 8 to defer receipt of the Common Shares underlying the Performance Shares RSUs (and dividend equivalents with respect thereto) beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, ​ ​ consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares on a deferred basis and contingent on vesting of the Performance Shares. Dividend equivalents on the Performance Shares covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to the extent such dividend equivalents are attributable to Performance Shares that have become Vested. To the extent that Performance Shares covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. the Company shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) additional Common Shares to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. Any fraction of a Common Share shall be paid in cash at the Distribution Date. (c) Under no circumstances circumstances, will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) RSUs until the Grantee’s 's Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest RSUs vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date such vesting date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Datesuch vesting date.

Dividend Equivalents and Other Rights. ​ (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement.. ​ (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) ), to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents.. ​ (c) Under no circumstances will the Company distribute or credit dividend equivalents paid on Performance Shares RSUs as described in Section 10(b) until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date.. ​ (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest RSUs become nonforfeitable pursuant to this Agreement and the Grantee ​ elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Date.. ​

Dividend Equivalents and Other Rights. (a) Except as provided in this Section, the Grantee shall not have any of the rights of a shareholder with respect to the Performance Shares RSUs covered by this Agreement; provided, however, that any additional Common Shares, share rights or other securities that the Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger, consolidation, separation or reorganization or any other change in the capital structure of Lincoln Electric Holdings, Inc. the Company shall be subject to the same restrictions as the Performance Shares RSUs covered by this Agreement. (b) The Grantee shall have the right to receive dividend equivalents with respect to the Common Shares underlying the Performance Shares RSUs on a deferred basis and contingent on vesting of the Performance SharesRSUs. Dividend equivalents on the Performance Shares RSUs covered by this Agreement shall be sequestered by the Company from and after the Date of Grant until the Distribution Date, whereupon such dividend equivalents shall be paid to the Grantee in the form of cash (or credited to the Grantee’s account under the Deferred Compensation Plan, if elected) to the extent such dividend equivalents are attributable to Performance Shares RSUs that have become Vestednonforfeitable. To the extent that Performance Shares RSUs covered by this Agreement are forfeited pursuant to Section 7 hereof, all the dividend equivalents sequestered with respect to such Performance Shares RSUs shall also be forfeited. No interest shall be payable with respect to any such dividend equivalents. (c) Under no circumstances circumstances, will the Company distribute or credit dividend equivalents paid on Performance Shares as described in Section 10(b) RSUs until the Grantee’s Distribution Date. The Grantee will not be entitled to vote the Common Shares underlying the Performance Shares RSUs until the Grantee receives such Common Shares on or after the Distribution Date. (d) Notwithstanding anything to the contrary in this Section 10, to the extent that any of the Performance Shares Vest RSUs vest pursuant to this Agreement and the Grantee elects pursuant to Section 9 to defer receipt of the Common Shares underlying the Performance Shares RSUs beyond the Distribution Date such vesting date in accordance with the terms of the Deferred Compensation Plan, then the right to receive dividend equivalents thereafter will be governed by the Deferred Compensation Plan from and after the Distribution Datesuch vesting date.