EXHIBIT 3
FORM OF AMENDMENT TO SEVERANCE AGREEMENT
FORM OF AMENDMENT TO SEVERANCE AGREEMENT, entered into as of June __, 1999
("Amendment"), to Severance Agreement, dated as of February 23, 1998 (the
"Agreement"), as amended on September 18, 1998 and October 27, 1998, by and
between Global Industrial Technologies, Inc., a Delaware corporation (the
"Company"), and ____________ ("Executive").
Company and Executive hereby agree, pursuant to Section 17 of the Agreement
for and in consideration of the premises and the mutual covenants and agreements
contained herein, to amend the Agreement in the following respects:
1. Paragraph 3 of the Agreement is hereby amended by the addition of the
following at the end thereof:
If the Company has entered into an agreement and the consummation of the
transactions contemplated thereunder would result in a Change in Control,
the notice referred to in the first sentence of this paragraph may not be
given until the earlier of the consummation of such transactions and the
date such agreement is terminated.
2. Defined terms used in this Agreement shall have the meanings assigned
to them in the Agreement.
3. The Agreement is only amended as expressly set forth herein.
EXECUTED as of the day and year first above written by the undersigned duly
authorized officer of the Company and the Executive.
Global Industrial Technologies
By: By:
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Xxxxxx Xxxxxxx [Name]
Chairman [title]
