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EXHIBIT 10H
RETIREMENT AGREEMENT
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THIS RETIREMENT AGREEMENT (this "Agreement") is made and entered into by and
between THE LINCOLN ELECTRIC COMPANY (the "Company," a term which in this
Agreement shall include its predecessors, parents, subsidiaries, divisions,
related or affiliated companies, officers, directors, stockholders, members,
employees, heirs, successors, assigns, representatives, agents and counsel,
unless the context otherwise clearly requires), and XXXXXXXXX X. XXXXXXXXXX
("Executive"), on the 8th day of November, 1995.
WITNESSETH:
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WHEREAS, Executive is a Director of the Company and currently serves as
President and Chief Operating Officer of the Company;
WHEREAS, the Company and Executive have determined that Executive shall
resign and retire from any and all positions he may hold an officer of, and any
other positions (other than his position as a Director) he may hold with
respect to, the Company, effective March 31, 1996, and that Executive shall
resign and retire as an employee of the Company and its subsidiaries and
related or affiliated companies effective March 31, 1996;
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WHEREAS, the Company and Executive desire to make provision for the payments
and benefits that Executive will be entitled to receive from the Company in
consideration for Executive's obligations and actions under this Agreement and
in connection with such resignations and retirement and the cessation of his
employment with the Company; and
WHEREAS, the Company and Executive wish to resolve, settle and/or compromise
any and all matters, claims and issues between them arising from or relating to
Executive's service and employment with the Company, including the termination
thereof;
NOW THEREFORE, in consideration of the premises and agreements contained
herein and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, and intending to be legally bound, the
Company and Executive agree as follows:
1. RESIGNATION. Executive hereby resigns and retires from his employment
with the Company, and its subsidiaries and related or affiliated companies, as
of March 31, 1996. Executive also resigns, as of March 31, 1996, (a) from the
Board of Directors of any entity that is a subsidiary of or is otherwise
related to or affiliated with the Company, (b) from all offices of the Company
to which he has been elected by the Board of Directors of the Company (or to
which he has otherwise been
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appointed), (c) from all offices of any entity that is a subsidiary of or is
otherwise related to or affiliated with the Company and (d) from all
administrative, fiduciary or other positions he may hold with respect to
arrangements or plans for, of or relating to the Company. The Company hereby
consents to and accepts said resignations, and the Company records shall so
reflect. The Company and Executive recognize and acknowledge that Executive
shall continue to serve as a Director of the Company through his current term,
unless and until Executive decides otherwise. During the remainder of 1995
Executive shall receive his current base salary, which is $338,750, plus any
amount payable to him under the terms of the Management Incentive Plan of the
Company (the maximum plan award for 1995 being $175,000). Effective January 1,
1996 through March 31, 1996, Executive shall receive a gross amount monthly of
$42,813. In 1996 Executive will not be eligible for any bonus or any
additional equity or cash incentive compensation.
2. PAYMENTS. (a) In consideration of the promises of Executive in this
Agreement and subject to the conditions hereof, including without limitation
Paragraph 4 of this Agreement, the Company shall:
(i) Pay Executive on the 15th and last day of each month for
thirty-six (36) months commencing on
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April 1, 1996 and ending on March 31, 1999 a gross amount annually of
TWO HUNDRED NINETY-SIX THOUSAND, TWO HUNDRED FIFTY FIVE DOLLARS
($296,255); PROVIDED that (a) no such payment shall be made unless and
until the conditions in Paragraph 4 below have been satisfied, (b) the
continuance of such payments is contingent upon Executive's compliance
with the requirements of this Agreement applicable to him and (c) if
Executive dies before the completion of the payments described in this
subparagraph 2(a)(i), the remaining payments described in this
subparagraph 2(a)(i) following his death shall be made to his estate.
(ii) Pay Executive a supplemental pension of ONE HUNDRED AND
THIRTY THOUSAND, SEVEN HUNDRED AND TWENTY-ONE DOLLARS ($130,721) per
year, in equal monthly installments, payable in the form of a single
life annuity, commencing with a payment on April 1, 1996 and ending
with a payment on the first day of the month in which Executive dies
(the "Pension"); PROVIDED that no such payment shall be made unless
the conditions in Paragraph 4 of this Agreement have been satisfied;
and PROVIDED FURTHER that the Pension shall be paid through the
Company's Supplemental Executive Retirement Plan
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(but no other benefit shall be payable to or with respect to Executive
under such plan); and PROVIDED FURTHER that Executive may elect to
receive the Pension in the form of an actuarially equivalent joint
survivor annuity in lieu of a straight life annuity (such actuarial
equivalence being determined in accordance with the terms of the
Company's Supplemental Executive Retirement Plan).
(iii) Waive the forfeiture restrictions set forth in Section 3
of the Restricted Stock Agreement dated January 25, 1994 between the
Company and Executive with respect to 6668 shares of the Company
(comprised of 3334 unrestricted Common Shares and 3334 unrestricted
Class A Common Shares). The effect of such waiver will be to vest
unconditionally such shares as of the Executive's retirement date.
The Company agrees to deliver the certificates for such shares in such
form as Executive requests on or before his retirement date. The
Company intends to exercise its repurchase rights relating to 10,164
Common Shares and 10,164 Class A Common Shares issued to Executive
under the Deferred Stock Award Agreement dated April 13, 1989 within
ninety (90) days following Executive's retirement.
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Executive acknowledges and agrees that he will tender such shares
issued under the Deferred Stock Award Agreement for repurchase
by the Company pursuant to the terms of such Agreement within ninety
(90) days following his retirement.
(iv) Continue to permit Executive to participate in the
Company's medical and life insurance programs, on the same basis that
Executive has participated in such medical and life insurance programs
prior to the termination of his employment with the Company, until the
earlier of March 30, 1999, or the date on which Executive becomes
eligible for other employer-provided medical insurance or life
insurance (whether through a subsequent employer of Executive or
through an employer of Executive's spouse), or, in the case of medical
insurance, the date on which Executive becomes eligible for Medicare.
Executive acknowledges and agrees that his rights hereunder with
respect to medical insurance satisfy his rights to continuation of
coverage under the Company's group health plan pursuant to Part 6 of
Subtitle B of Title I of the Employee Retirement Income Security Act
of 1974, as amended ("COBRA"), PROVIDED that if Executive revokes his
acceptance of this
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Agreement pursuant to Paragraph 4 of this Agreement, the Company shall
be obligated to provide Executive only with the opportunity to
purchase medical insurance pursuant to the requirements of COBRA. In
addition, following the time that Executive becomes eligible for
Medicare, he will be entitled to participate in the Company's program
through which retirees, at their cost (as determined by the Company),
may elect to have coverage under the Company's medical program that is
secondary to Medicare.
(b) Executive acknowledges and agrees that he shall be responsible
for his share of any and all Federal, State and/or local taxes applicable to
the payments made, and benefits provided or made available, to Executive
pursuant to this Paragraph 2 and further agrees to indemnify the Company
against any liability as a result of those taxes.
(c) The payments to Executive pursuant to subparagraphs 2(a)(i) and
2(a)(ii) of this Agreement shall be made by check or direct deposit to an
account designated by Executive, and shall be reduced by any applicable
Federal, State and local tax or other required withholding. The payments to
Executive pursuant to subparagraph 2(a)(i) of this Agreement shall be reduced
by any applicable
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deductions resulting from Executive's election to participate in the
Company's medical and/or life insurance programs as described in
subparagraph 2(a)(iv) of this Agreement.
(d) Executive acknowledges and agrees that the consideration provided
by the Company to Executive under this Agreement, including, without
limitation, the payments and benefits to be made or provided by the Company
to Executive pursuant to this Agreement, is greater than and in addition to
anything of value to which he otherwise would be entitled from the Company
and that the release by Executive set forth in Paragraph 4 of this Agreement
and the obligations of and actions taken by Executive under this Agreement
are given and undertaken in consideration of, and adequately supported by,
the payments and benefits to be made or provided to Executive by the Company
under and pursuant to this Agreement.
3. PROFESSIONAL FEES. The Company and Executive acknowledge and agree that
each shall be responsible for the payment of their respective legal fees and
costs (and related disbursements) incurred in connection with Executive's
termination and resignation and all matters relating to the negotiation and
execution of this Agreement.
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4. RELEASE BY EXECUTIVE. (a) Executive, for himself and his dependents,
successors, assigns, heirs, executors and administrators (and his and their
legal representatives of every kind), hereby releases, dismisses, remises and
forever discharges the Company from any and all arbitrations, claims, including
claims for attorney's fees, demands, damages, suits, proceedings, actions
and/or causes of action of any kind and every description, whether known or
unknown, which Executive now has or may have had for, upon, or by reason of any
cause whatsoever (except that this release shall not apply to the obligations
of the Company arising under this Agreement) ("Claims"), against the Company,
including but not limited to:
(i) any and all Claims arising out of or relating to Executive's employment
by or service with the Company and his termination from the Company;
(ii) any and all Claims arising out of or relating to the matter of XXXXX
X. XXXXXX VS. THE LINCOLN ELECTRIC COMPANY, Case No. 288514 in the Common
Pleas Court of Cuyahoga County, Ohio;
(iii) any and all Claims of discrimination, including but not limited to
Claims of discrimination on the basis of sex, race, age, national origin,
marital status, religion or handicap, including, specifically, but without
limiting the
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generality of the foregoing, any Claims under the Age Discrimination in
Employment Act, as amended, Title VII of the Civil Rights Act of 1964, as
amended, the Americans with Disabilities Act, Ohio Revised Code Section
4101.17 and Ohio Revised Code Chapter 4112, including Sections 4112.02 and
4112.99 thereof; and
(iv) any and all Claims of wrongful or unjust discharge or breach of any
contract or promise, express or implied.
(b) Executive understands and acknowledges that the Company does not admit
any violation of law, liability or invasion of any of his rights and that any
such violation, liability or invasion is expressly denied. The consideration
provided under this Agreement is made for the purpose of settling and
extinguishing all Claims and rights (and every other similar or dissimilar
matter) that Executive ever had or now may have against the Company to the
extent provided in this Paragraph 4. Executive further agrees and acknowledges
that no representations, promises or inducements have been made by the Company
other than as appear in this Agreement.
(c) Executive further agrees and acknowledges that:
(i) The release provided for in this Paragraph 4 releases Claims to
and including the date of this Agreement;
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(ii) He has been advised by the Company to consult with legal counsel
prior to executing this Agreement and the release provided for in this
Paragraph 4, has had an opportunity to consult with and to be advised by
legal counsel of his choice, fully understands the terms of this Agreement,
and enters into this Agreement freely, voluntarily and intending to be bound;
(iii) He has been given a period of twenty-one (21) days to review and
consider the terms of this Agreement, and the release contained herein, prior
to its execution and that he may use as much of the twenty-one (21) day
period as he desires; and
(iv) He may, within seven (7) days after execution, revoke this
Agreement. Revocation shall be made by delivering a written notice of
revocation to the Vice President of Human Resources at the Company. For such
revocation to be effective, written notice must be actually received by the
Vice President of Human Resources at the Company no later than the close of
business on the seventh (7th) day after Executive executes this Agreement.
If Executive does exercise his right to revoke this Agreement, all of the
terms and conditions of the Agreement shall be of no force and effect and the
Company shall not have any
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obligation to make payments or provide benefits to Executive as set forth in
Paragraph 2 of this Agreement, except as may be required under COBRA.
(d) Executive agrees that he will never file a lawsuit or other complaint
asserting any Claim that is released in this Paragraph 4.
(e) It is understood and agreed that Executive's resignation and retirement
are by mutual agreement between the Company and Executive, and that Executive
waives and releases any Claim that he has or may have to reemployment.
5. CONFIDENTIAL INFORMATION. (a) Executive acknowledges and agrees that
in the performance of his duties as an officer and employee of the Company he
was brought into frequent contact with, had or may have had access to, and/or
became informed of confidential and proprietary information of the Company
and/or information which is a trade secret of the Company (collectively,
"Confidential Information"), as more fully described in subparagraph (b) of
this Paragraph 5. Executive acknowledges and agrees that the Confidential
Information of the Company gained by Executive during his association with the
Company was developed by and/or for the Company through substantial expenditure
of time, effort and money and constitutes valuable and unique property of the
Company.
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(b) Executive will keep in strict confidence, and will not, directly or
indirectly, at any time, disclose, furnish, disseminate, make available, use or
suffer to be used in any manner any Confidential Information of the Company
(except as may be necessary in connection with the discharge of Executive's
obligations pursuant to Paragraph 8 of this Agreement) without limitation as to
when or how Executive may have acquired such Confidential Information.
Executive specifically acknowledges that Confidential Information includes any
and all information, whether reduced to writing (or in a form from which
information can be obtained, translated, or derived into reasonably usable
form), or maintained in the mind or memory of Executive and whether compiled or
created by the Company, which derives independent economic value from not being
readily known to or ascertainable by proper means by others who can obtain
economic value from the disclosure or use of such information, that reasonable
efforts have been put forth by the Company to maintain the secrecy of
Confidential Information, that such Confidential Information is and will remain
the sole property of the Company, and that any retention or use by Executive of
Confidential Information after the termination of Executive's employment with
and services for the Company shall constitute a misappropriation of the
Company's Confidential Information.
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(c) Executive further agrees that he shall return (to the extent he has not
already returned), within ten (10) days of the Effective Date, in good
condition, all property of the Company, including, without limitation, (i)
property, documents and/or all other materials (including copies,
reproductions, summaries and/or analyses) which constitute, refer or relate to
Confidential Information of the Company, (ii) keys to Company property, (iii)
files and (iv) blueprints or other drawings.
(d) Executive further acknowledges and agrees that his obligation of
confidentiality shall survive, regardless of any other breach of this Agreement
or any other agreement, by any party hereto, until and unless such Confidential
Information of the Company shall have become, through no fault of Executive,
generally known to the public or Executive is required by law (after providing
the Company with notice and opportunity to contest such requirement) to make
disclosure. Executive's obligations under this Paragraph 5 are in addition to,
and not in limitation or preemption of, all other obligations of
confidentiality which Executive may have to the Company under general legal or
equitable principles or statutes.
6. NON-COMPETITION. (a) Executive agrees that for a period of two (2)
years from and after the date of this Agreement, within the Territory (as
described in subparagraph
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(b)(i) of this Paragraph 6) (and, as to subparagraph (a)(iii) of this Paragraph
6, any place), he shall not, directly or indirectly, do or suffer any of the
following:
(i) Own, manage, control or participate in the ownership, management, or
control of, or be employed or engaged by or otherwise affiliated or
associated as a consultant, independent contractor or otherwise with, any
other corporation, partnership, proprietorship, firm, association, or other
business entity, or otherwise engage in any business, which is in competition
with the Company's business (as described in subparagraph (b)(ii) of this
Paragraph 6); PROVIDED, however, that the ownership of not more than one
percent (1%) of any class of publicly-traded securities of any entity shall
not be deemed a violation of this Agreement.
(ii) Employ, assist in employing, or otherwise associate in business with
any person who presently is an employee, officer or agent of the Company, or
any of its affiliated, related or subsidiary entities.
(iii) Induce any person who is an employee, officer or agent of the
Company, or any of its affiliated, related, or subsidiary entities to
terminate such relationship.
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(b) For purposes of this Agreement:
(i) "Territory" shall mean the countries identified in Exhibit A hereto.
(ii) The Company's business shall mean the design, manufacture,
distribution and sale of the products identified in Exhibit B hereto.
(c) In the event Executive shall violate any provision of this Paragraph 6
as to which there is a specific time period during which he is prohibited from
taking certain actions or from engaging in certain activities, as set forth in
such provision, then, in such event, such violation shall toll the running of
such time period from the date of such violation until such violation shall
cease.
(d) Executive has carefully considered the nature and extent of the
restrictions upon him and the rights and remedies conferred upon the Company
under this Paragraph 6 and this Agreement, and hereby acknowledges and agrees
that the same are reasonable in time and territory, are designed to eliminate
competition which otherwise would be unfair to the Company, do not stifle the
inherent skill and experience of Executive, would not operate as a bar to
Executive's sole means of support, are fully required to protect the legitimate
interests of the Company
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and do not confer a benefit upon the Company disproportionate to the detriment
to Executive.
7. DISCLOSURE. Executive, for a period of two (2) years from and after the
date of this Agreement, agrees to communicate the contents of Paragraphs 5, 6,
8(b), 9 and 11 of this Agreement to any person, firm, association, or
corporation which he intends to be employed by, associated in business with, or
represent.
8. BREACH. (a) If Executive breaches any of the provisions of this
Agreement, then the Company may, at its sole option, (1) immediately terminate
all remaining payments and benefits described in subparagraphs 2(a)(i) and
2(a)(iv) of this Agreement and (2) obtain reimbursement from Executive of all
payments and benefits already provided pursuant to subparagraphs 2(a)(i) and
2(a)(iv) of this Agreement, plus any expenses and damages incurred as a result
of the breach, with the remainder of this Agreement, and all promises and
covenants herein, remaining in full force and effect.
(b) Executive acknowledges and agrees that the remedy at law available to
the Company for breach by Executive of any of his obligations under Paragraphs
5 and 6 of this Agreement would be inadequate and that damages flowing from
such a breach would not readily be susceptible to being measured in monetary
terms.
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Accordingly, Executive acknowledges, consents and agrees that, in addition to
any other rights or remedies which the Company may have at law, in equity or
under this Agreement, upon adequate proof of Executive's violation of any
provision of Paragraph 5 or 6 of this Agreement, the Company shall be entitled
to immediate injunctive relief and may obtain a temporary order restraining any
threatened or further breach, without the necessity of proof of actual damage.
9. CONTINUED AVAILABILITY AND COOPERATION. (a) Executive shall cooperate
fully with the Company and with the Company's counsel in connection with any
present and future actual or threatened litigation or administrative proceeding
involving the Company that relates to events, occurrences or conduct occurring
(or claimed to have occurred) during the period of Executive's employment by
the Company. This cooperation by Executive shall include, but not be limited
to:
(i) making himself reasonably available for interviews and discussions with
the Company's counsel as well as for depositions and trial testimony;
(ii) if depositions or trial testimony are to occur, making himself
reasonably available and cooperating in the preparation therefor as and to
the extent that the Company or the Company's counsel reasonably requests;
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(iii) refraining from impeding in any way the Company's prosecution or
defense of such litigation or administrative proceeding; and
(iv) cooperating fully in the development and presentation of the
Company's prosecution or defense of such litigation or administrative
proceeding.
(b) For two (2) years from and after the date of this Agreement, Executive
shall continue to provide cooperation to the Company with respect to projects
undertaken by the Company where Executive's prior knowledge with respect to, or
prior involvement in, such or similar projects would be relevant to the
advancement of such projects; PROVIDED that such cooperation shall not require
more than forty-five (45) days of Executive's time per calendar year.
(c) Executive shall be reimbursed by the Company for reasonable travel,
lodging, telephone and similar expenses incurred in connection with such
cooperation, which the Company shall reasonably endeavor to schedule at times
not conflicting with the reasonable requirements of any future employer of
Executive, or with the requirements of any third party with whom Executive has
a business relationship that provides remuneration to Executive. Executive
shall not unreasonably withhold his availability for such cooperation.
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10. SUCCESSORS AND BINDING AGREEMENT. (a) This Agreement shall be
binding upon and inure to the benefit of the Company and any successor of or to
the Company, including, without limitation, any persons acquiring directly or
indirectly all or substantially all of the business and/or assets of the
Company whether by purchase, merger, consolidation, reorganization or otherwise
(and such successor shall thereafter be deemed included in the definition of
"the Company" for purposes of this Agreement), but shall not otherwise be
assignable or delegable by the Company.
(b) This Agreement shall inure to the benefit of and be enforceable by
Executive's personal or legal representatives, executors, administrators,
successors, heirs, distributees and/or legatees.
(c) This Agreement is personal in nature and none of the parties hereto
shall, without the consent of the other parties, assign, transfer or delegate
this Agreement or any rights or obligations hereunder except as expressly
provided in subparagraphs (a) and (b) of this Paragraph 10.
(d) This Agreement is intended to be for the exclusive benefit of the
parties hereto, and except as provided in subparagraphs (a) and (b) of this
Paragraph 10, no third party shall have any rights hereunder.
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11. NON-DISCLOSURE; STATEMENTS TO THIRD PARTIES. (a) Except to the extent
that this Agreement or the terms hereof become publicly known or available
because of legally mandated disclosure and filing requirements of the
Securities and Exchange Commission, or because of any other legal requirement
that this Agreement or the terms hereof be disclosed or filed with a
governmental instrumentality or agency, all provisions of this Agreement and
the circumstances giving rise hereto are and shall remain confidential and
shall not be disclosed to any person not a party hereto (other than (i)
Executive's spouse, (ii) each party's attorney, financial advisor and/or tax
advisor to the extent necessary for such advisor to render appropriate legal,
financial and tax advice, and (iii) persons or entities that fall within the
scope of Paragraph 7 of this Agreement, but only to the extent required
thereby), except as necessary to carry out the provisions of this Agreement,
and except as may be required by law; PROVIDED, HOWEVER, that Executive may
disclose to prospective employers the circumstances of his departure from the
Company so long as all such disclosures are made in a manner not injurious to
the reputation or business of the Company.
(b) Because the purpose of this Agreement is to settle amicably any and all
potential disputes or claims among the parties, neither Executive nor the
Company shall, directly or
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indirectly, make or cause to be made any statements to any third parties
criticizing or disparaging the other or commenting on the character or business
reputation of the other. Executive further hereby agrees not (1) to comment to
others concerning the status, plans or prospects of the business of the
Company, or (2) to engage in any act or omission that would be detrimental,
financially or otherwise, to the Company, or that would subject the Company to
public disrespect, scandal or ridicule.
12. NOTICES. For all purposes of this Agreement, all communications
provided for herein shall be in writing and shall be deemed to have been duly
given when delivered, addressed to the Company (to the attention of the Vice
President of Human Resources) at its principal executive offices and to
Executive at his principal residence, 0 Xxxxxxxxx Xxxxx, Xxxxx 0000, Xxxxxxxxx,
Xxxx 00000-0000, or to such other address as any party may have furnished to
the other in writing and in accordance herewith. Notices of change of address
shall be effective only upon receipt.
13. MISCELLANEOUS. The death or disability of Executive following the
execution of this Agreement shall not affect or revoke this Agreement or any of
the obligations of the parties hereto. No provision of this Agreement may be
modified, waived or discharged unless such waiver, modification or
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discharge is agreed to in writing signed by Executive and the Company. No
waiver by either party hereto at any time of any breach by the other party
hereto or compliance with any condition or provision of this Agreement to be
performed by such other party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time. No
agreements or representations, oral or otherwise, expressed or implied with
respect to the subject matter hereof have been made by any of the parties that
are not set forth expressly in this Agreement and every one of them (if, in
fact, there have been any) is hereby terminated without liability or any other
legal effect whatsoever.
14. ENTIRE AGREEMENT. This Agreement shall constitute the entire agreement
among the parties hereto with respect to the subject matter hereof and shall
supersede all prior verbal or written agreements, covenants, communications,
understandings, commitments, representations or warranties, whether oral or
written, by any party hereto or any of its representatives pertaining to such
subject matter.
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15. GOVERNING LAW. The validity, interpretation, construction and
performance of this Agreement shall be governed by the substantive laws of the
State of Ohio, without giving effect to the principles of conflict of laws of
such state.
16. VALIDITY. The invalidity or unenforceability of any provision of this
Agreement shall not affect the validity or enforceability of any other
provision of this Agreement which shall nevertheless remain in full force and
effect.
17. COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original, but all of which
together shall constitute one and the same Agreement.
18. CAPTIONS AND PARAGRAPH HEADINGS. Captions and paragraph headings used
herein are for convenience and are not part of this Agreement and shall not be
used in construing it.
19. FURTHER ASSURANCES. Each party hereto shall execute such additional
documents, and do such additional things, as may reasonably be requested by the
other party to effectuate the purposes and provisions of this Agreement.
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IN WITNESS WHEREOF, the parties have executed and delivered this Agreement
on November 8, 1995.
THE LINCOLN ELECTRIC COMPANY
By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx
Chairman of the Board and
Chief Executive Officer
Witness: /s/ Xxxxxxx X. Xxxxx /s/ Xxxxxxxxx X. Xxxxxxxxxx
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XXXXXXXXX X. XXXXXXXXXX
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EXHIBIT A
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United States
Canada
Mexico
Brazil
Venezuela
England
France
Germany
Ireland
Italy
Japan
Netherlands
Norway
Spain
Australia
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EXHIBIT B
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I. Arc Welding Machines ranging from light duty models for light
industrial and farm use to heavy duty models for commercial and
industrial use in manual, semi-automatic, automatic and robotic
welding.
II. Arc Welding Consumables: Welding rods, fluxes and wires used in
light to heavy manufacturing of mild steel, alloy and hard surface
applications; coated manual or stick electrodes; solid electrodes
produced in coil form for continuous feeding in mechanized welding;
cored electrodes produced in coil form for continuous feeding in
mechanized welding; submerged arc electrodes and fluxes;
self-shielded cored electrodes; gas-shielded solid and cored
electrodes.
III. Arc Welding Power Sources and Automated Wire Feeding Systems.
IV. Integral horsepower electric motors ranging principally from 1/3 to
250 horsepower, but including cast iron motors of 1,250 horsepower.
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