<SEC-DOCUMENT>0001193125-23-110581.txt : 20230421
<SEC-HEADER>0001193125-23-110581.hdr.sgml : 20230421
<ACCEPTANCE-DATETIME>20230421163056
ACCESSION NUMBER:		0001193125-23-110581
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20230419
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20230421
DATE AS OF CHANGE:		20230421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN ELECTRIC HOLDINGS INC
		CENTRAL INDEX KEY:			0000059527
		STANDARD INDUSTRIAL CLASSIFICATION:	METALWORKING MACHINERY & EQUIPMENT [3540]
		IRS NUMBER:				340359955
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-01402
		FILM NUMBER:		23836778

	BUSINESS ADDRESS:	
		STREET 1:		22801 ST CLAIR AVE
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44117
		BUSINESS PHONE:		2164818100

	MAIL ADDRESS:	
		STREET 1:		22801 ST CLAIR AVE
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LINCOLN ELECTRIC CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">14d-2(b)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14d-2(b))</span></p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
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<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Trading</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Symbol</p></td>
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<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Name of exchange</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">on which registered</p></td></tr>
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<td style=" text-align: center;margin:auto; vertical-align:top"><ix:nonNumeric name="dei:Security12bTitle" contextRef="duration_2023-04-19_to_2023-04-19">Common Shares, without par value</ix:nonNumeric></td>
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<td style=" text-align: center;margin:auto; vertical-align:top"><ix:nonNumeric name="dei:TradingSymbol" contextRef="duration_2023-04-19_to_2023-04-19">LECO</ix:nonNumeric></td>
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<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">

<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
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<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;5.02.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On April&#160;19, 2023, at the Annual Meeting of Shareholders (the &#8220;<span style="font-weight:bold"><span style="font-style:italic">Annual Meeting</span></span>&#8221;) of Lincoln Electric Holdings, Inc. 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</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Board generally will be able to amend the Employee Plan, in certain circumstances as described in the Employee Plan. </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This description of the Employee Plan is qualified in its entirety by reference to the full text of the Employee Plan, which is incorporated by reference from Exhibit 10.1 of this Current Report on Form <span style="white-space:nowrap">8-K.</span> </p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold"><span style="font-style:italic">Director Plan </span></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Director Plan authorizes the Nominating and Corporate Governance Committee of the Board to provide for equity- based compensation in the form of stock options, stock appreciation rights, restricted shares, restricted stock units, dividend equivalents, and certain other awards. The purpose of these awards is to (i)&#160;encourage <span style="white-space:nowrap">non-employee</span> directors of the Company to own common shares to align their interest more closely with the Company&#8217;s other shareholders, (ii)&#160;encourage the highest level of director achievement by providing a vested interest in the Company&#8217;s achievement of its financial goals, and (iii)&#160;provide incentives to help attract and retain the most qualified <span style="white-space:nowrap">non-employee</span> directors. Subject to adjustment as described in the Director Plan and subject to the Director Plan&#8217;s share counting rules, a total of 200,000 common shares are available for awards granted under the Director Plan. The Director Plan also provides that, subject to adjustment as described in the Director Plan: (1)&#160;no participant will receive common-share based awards for, in the aggregate, more than 13,000 common shares during any calendar year; and (2)&#160;no participant will receive cash-based awards having an aggregate maximum value in excess of $300,000 during any calendar year. Awards that do not comply with the applicable minimum vesting periods provided for in the Director Plan will not result in the issuance or transfer of more than 5% of the common shares available under the Director Plan. </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Board generally will be able to amend the Director Plan, subject to shareholder approval in certain circumstances as described in the Director Plan. </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This description of the Director Plan is qualified in its entirety by reference to the full text of the Director Plan, which is incorporated by reference from Exhibit 10.2 of this Current Report on Form <span style="white-space:nowrap">8-K.</span> </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;5.07.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Submission of Matters to a Vote of Security Holders. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company held the Annual Meeting on April&#160;19, 2023. The final results for the proposals submitted for a vote of shareholders at the Annual Meeting are set forth below. The proposals below are described in more detail in the Company&#8217;s definitive proxy statement for the Annual Meeting, filed with the Securities and Exchange Commission on March&#160;17, 2023. </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><span style="font-weight:bold"><span style="font-style:italic">Proposal 1</span></span> &#8211; Shareholders elected ten directors, each to hold office until the 2024 Annual Meeting of Shareholders or until their successors are duly elected and qualified, as set forth below. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:84%;border:0;margin:0 auto">


<tr>

<td style="width:60%"></td>

<td style="vertical-align:bottom;width:4%"></td>
<td></td>

<td style="vertical-align:bottom;width:4%"></td>
<td></td>

<td style="vertical-align:bottom;width:4%"></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Name</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Votes For</span></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Votes&#160;Withheld</span></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold"><span style="white-space:nowrap">Broker&#160;Non-Votes</span></span></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Brian D. Chambers</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,954,812</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">255,454</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Curtis E. Espeland</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,657,125</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">553,141</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Patrick P. Goris</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,420,067</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">790,199</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michael F. Hilton</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,417,343</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">792,923</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Kathryn Jo Lincoln</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,168,281</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">1,041,985</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Christopher L. Mapes</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">43,446,674</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">1,763,592</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Phillip J. Mason</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,763,596</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">446,670</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ben P. Patel</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,590,400</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">619,866</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Hellene S. Runtagh</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">43,528,213</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">1,682,053</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Kellye L. Walker</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">44,515,511</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">694,755</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,167,152</td></tr>
</table>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><span style="font-weight:bold"><span style="font-style:italic">Proposal 2</span></span> - Shareholders ratified the appointment of Ernst&#160;&amp; Young LLP as the Company&#8217;s independent auditors for the year ending December&#160;31, 2023, as set forth below. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:80%;border:0;margin:0 auto">


<tr>

<td style="width:24%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:24%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:25%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:24%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes For</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes Against</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Broker <span style="white-space:nowrap">Non-Votes</span></p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">50,370,109</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">950,258</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">57,051</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">0</td></tr>
</table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><span style="font-weight:bold"><span style="font-style:italic">Proposal 3 </span></span>- Shareholders approved, on an advisory basis, the compensation of the Company&#8217;s named executive officers, as set forth below. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:80%;border:0;margin:0 auto">


<tr>

<td style="width:24%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:24%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:25%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:24%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes For</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes Against</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Broker <span style="white-space:nowrap">Non-Votes</span></p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">43,475,051</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">1,576,156</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">159,059</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">6,167,152</td></tr>
</table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><span style="font-weight:bold"><span style="font-style:italic">Proposal 4</span></span> - Shareholders approved, on an advisory basis, an annual frequency for future advisory votes to approve the Company&#8217;s named executive officer compensation, as set forth below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:100%;border:0;margin:0 auto">


<tr>

<td style="width:18%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:19%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:20%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:20%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:19%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Every Year</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Every Two Years</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Every Three Years</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Broker <span style="white-space:nowrap">Non-Votes</span></p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">43,832,824</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">100,645</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">1,089,894</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">186,903</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">0</td></tr>
</table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><span style="font-weight:bold"><span style="font-style:italic">Proposal 5</span></span> - Shareholders approved Lincoln Electric Holdings, Inc.&#8217;s 2023 Equity and Incentive Compensation Plan, as set forth below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:80%;border:0;margin:0 auto">


<tr>

<td style="width:24%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:24%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:25%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:24%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes For</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes Against</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Broker <span style="white-space:nowrap">Non-Votes</span></p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">43,628,922</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">1,418,298</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">163,046</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">6,167,152</td></tr>
</table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><span style="font-weight:bold"><span style="font-style:italic">Proposal 6</span></span> - Shareholders approved Lincoln Electric Holdings, Inc.&#8217;s 2023 Stock Plan for <span style="white-space:nowrap">Non-Employee</span> Directors, as set forth below: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:80%;border:0;margin:0 auto">


<tr>

<td style="width:24%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:24%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:25%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:24%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes For</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes Against</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Broker <span style="white-space:nowrap">Non-Votes</span></p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">43,248,666</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">1,774,511</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">187,089</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">6,167,152</td></tr>
</table> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;9.01.</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Financial Statements and Exhibits. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">d)&#160;&#160;&#160;&#160;Exhibits. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0;margin:0 auto">


<tr>

<td></td>

<td style="vertical-align:bottom;width:5%"></td>
<td style="width:92%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Exhibit<br />Number</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Description</p></td></tr>


<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">10.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d416268dex101.htm">Lincoln Electric Holdings, Inc.&#8217;s 2023 Equity and Incentive Compensation Plan. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">10.2</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d416268dex102.htm">Lincoln Electric Holdings, Inc.&#8217;s 2023 Stock Plan for <span style="white-space:nowrap">Non-Employee</span> Directors. </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">104</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">Cover Page Interactive Data File (embedded within the Inline XBRL document).</td></tr>
</table>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:center">SIGNATURES </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p><div>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:40%;border:0;margin-left:auto">


<tr>

<td style="width:12%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:87%"></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top" colspan="3"><span style="font-weight:bold">LINCOLN ELECTRIC HOLDINGS, INC.</span></td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jennifer I. Ansberry</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top">Name:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Jennifer I. Ansberry</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top">Title:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Executive Vice President, General Counsel and Secretary</td></tr>
</table></div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April 21, 2023 </p>
</div></div>

</body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d416268dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LINCOLN ELECTRIC HOLDINGS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2023 EQUITY AND INCENTIVE COMPENSATION PLAN </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>1.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Purpose. </B>The purpose of this 2023 Equity and Incentive Compensation Plan is to
attract and retain officers, other employees and consultants of the Company and its Subsidiaries and to provide to such persons incentives and rewards for performance. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>2.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Definitions. </B>As used in this Plan: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Appreciation Right&#148; means a right granted pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan, and will include both Free-Standing Appreciation Rights and Tandem Appreciation Rights. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Award&#148; means an Option Right, an Appreciation Right, Restricted Shares,
Restricted Stock Units, Performance Shares, Performance Units or Other Awards granted in accordance with the terms of the Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Base Price&#148; means the price to be used as the basis for determining the Spread
upon the exercise of a Free-Standing Appreciation Right or a Tandem Appreciation Right. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board&#148; means the Board of Directors of the Company. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Cause&#148; means, for a Participant who is a party to a severance agreement with
the Company, &#147;Cause&#148; as defined in such agreement. For all other Participants, &#147;Cause&#148; means that, prior to termination of employment, the Participant shall have: (i)&nbsp;committed a criminal violation involving fraud,
embezzlement or theft in connection with the Participant&#146;s duties or in the course of the Participant&#146;s employment with the Company or any Subsidiary; (ii)&nbsp;committed an intentional violation of the Lincoln Electric Code of Corporate
Conduct and Ethics, or any successor document, (A)&nbsp;in effect at the relevant time if such violation occurs prior to a Change in Control, or (B)&nbsp;in effect immediately prior to a Change in Control if such violation occurs on or after a
Change in Control; (iii)&nbsp;committed intentional wrongful damage to property of the Company or any Subsidiary; (iv)&nbsp;committed intentional wrongful disclosure of secret processes or confidential information of the Company or any Subsidiary;
or (v)&nbsp;committed intentional wrongful engagement in any of the activities set forth in any confidentiality, <FONT STYLE="white-space:nowrap">non-competition</FONT> or <FONT STYLE="white-space:nowrap">non-solicitation</FONT> arrangement with the
Company to which the Participant is a party; and, in each case, any such act shall have been demonstrably and materially harmful (including financially or reputationally harmful) to the Company. For purposes of this Plan, no act or failure to act on
the part of the Participant will be deemed &#147;intentional&#148; if it was due primarily to an error in judgment or negligence, but will be deemed &#147;intentional&#148; only if done or omitted to be done by the Participant not in good faith and
without reasonable belief that the Participant&#146;s action or omission was in the best interest of the Company. Before a Change in Control, the Committee shall have the sole discretion to determine whether &#147;Cause&#148; exists, and its
determination shall be final. After a Change in Control, any determination as to whether &#147;Cause&#148; exists shall be subject to <I>de novo</I> review. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Change in Control&#148; has the meaning set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Code&#148; means the Internal Revenue Code of 1986, as amended from time to time.
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Committee&#148; means the Compensation and Executive Development Committee of
the Board (or its successor(s)), or any other committee of the Board designated by the Board to administer this Plan pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B> of this Plan consisting solely of no fewer than two <FONT
STYLE="white-space:nowrap">Non-Employee</FONT> Directors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Common Shares&#148;
means the common shares of the Company, without par value, or any security into which such common shares may be changed by reason of any transaction or event of the type referred to in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> of
this Plan. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Company&#148; means Lincoln Electric Holdings, Inc., an Ohio
corporation, and its successors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Date of Grant&#148; means the date specified
by the Committee on which a grant of Option Rights, Appreciation Rights, Performance Shares, Performance Units, or Other Awards, or a grant or sale of Restricted Shares, Restricted Stock Units, or Other Awards, will become effective (which date will
not be earlier than the date on which the Committee takes action with respect thereto). </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Director&#148; means a member of
the Board. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Effective Date&#148; means the date this Plan is approved by the
shareholders of the Company. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Evidence of Award&#148; means an agreement,
certificate, resolution or other type or form of writing or other evidence approved by the Committee that sets forth the terms and conditions of the awards granted under the Plan. An Evidence of Award may be in an electronic medium, may be limited
to notation on the books and records of the Company and, unless otherwise determined by the Committee, need not be signed by a representative of the Company or a Participant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended, and the
rules and regulations thereunder, as such law, rules and regulations may be amended from time to time. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Free-Standing Appreciation Right&#148; means an Appreciation Right granted pursuant
to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan that is not granted in tandem with an Option Right. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Good Reason&#148; means, for a Participant who is a party to a severance agreement
with the Company, &#147;Good Reason&#148; as defined in such agreement. For all other Participants, &#147;Good Reason&#148; means the occurrence of any of the following events without the Participant&#146;s written consent: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A material diminution in the Participant&#146;s base compensation; </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A material diminution in the Participant&#146;s authority, duties, or
responsibilities; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A material reduction in the Participant&#146;s
opportunity regarding annual bonus, incentive or other payment of compensation made or to be made in regard to services rendered in any year or other period pursuant to any bonus, incentive, profit-sharing, performance, discretionary pay or similar
agreement, policy, plan, program or arrangement (whether or not funded) of the Company; </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A material change in the geographic location at which the Participant
must perform the services, which adds fifty (50)&nbsp;miles or more to the Participant&#146;s <FONT STYLE="white-space:nowrap">one-way</FONT> daily commute; and </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any other action or inaction that constitutes a material breach by the
Company of the Participant&#146;s employment agreement, if any, under which the Participant provides services to the Company, or Participant&#146;s severance agreement with the Company, if any. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, a termination of employment by the Participant for one of the reasons set forth in clauses (i)&nbsp;through (v) above will not
constitute a termination of employment by Participant for &#147;Good Reason&#148; unless the Participant provides, within 90 days of the initial occurrence of such condition or conditions, written notice to the Participant&#146;s employer of the
existence of such condition or conditions, the Participant&#146;s employer has not remedied such condition or conditions within 30 days of the receipt of such notice and Participant terminates employment with the Company within 90 days following
expiration of the cure period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Incentive Stock Options&#148; means Option
Rights that are intended to qualify as &#147;incentive stock options&#148; under Section&nbsp;422 of the Code or any successor provision. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Management Objectives&#148; means the measurable performance objective or objectives
established pursuant to this Plan for Participants who have received grants of Performance Shares, Performance Units or, when so determined by the Committee, Option Rights, Appreciation Rights, Restricted Shares, Restricted Stock Units, dividend
equivalents or other awards pursuant to this Plan. Management Objectives may be described in terms of Company-wide objectives or objectives that are related to the performance of the individual Participant or of one or more of the Subsidiaries,
divisions, departments, regions, functions or other organizational units within </P>
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the Company or its Subsidiaries. The Management Objectives may be made relative to the performance of other companies or subsidiaries, divisions, departments, regions, functions or other
organizational units within such other companies, and may be made relative to an index or one or more of the performance objectives themselves. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Market Value per Share&#148; means, as of any particular date, the closing price of
a Common Share as reported for that date on the NASDAQ Stock Market or, if the Common Shares are not then listed on the NASDAQ Stock Market, on any other national securities exchange on which the Common Shares are listed, or if there are no sales on
such date, on the next preceding trading day during which a sale occurred. If there is no regular public trading market for the Common Shares, then the Market Value per Share shall be the fair market value as determined in good faith by the
Committee. The Committee is authorized to adopt another fair market value pricing method provided such method is stated in the Evidence of Award and is in compliance with the fair market value pricing rules set forth in Section&nbsp;409A of the
Code. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Non-Employee</FONT> Director&#148; means
a person who is a <FONT STYLE="white-space:nowrap">&#147;Non-Employee</FONT> Director&#148; of the Company within the meaning of Rule <FONT STYLE="white-space:nowrap">16b-3</FONT> promulgated under the Exchange Act. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Optionee&#148; means the optionee named in an Evidence of Award evidencing an
outstanding Option Right. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Option Price&#148; means the purchase price payable
on exercise of an Option Right. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Option Right&#148; means the right to purchase
Common Shares upon exercise of an option granted pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Other Award&#148; means an award granted pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;9</U></B> of the Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Participant&#148; means a person who is selected by the Committee to receive
benefits under this Plan and who is at the time (i)&nbsp;an officer, other employee or consultant of the Company or any Subsidiary, or (ii)&nbsp;a person who provides services to the Company or a Subsidiary that are equivalent to those typically
provided by an employee (provided that such person or consultant satisfies the Form <FONT STYLE="white-space:nowrap">S-8</FONT> definition of an &#147;employee&#148;). </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Performance Period&#148; means, in respect of a Performance Share or Performance
Unit, a period of time established pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> of this Plan within which the Management Objectives relating to such Performance Share or Performance Unit are to be achieved. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Performance Share&#148; means a bookkeeping entry that records the equivalent of
one Common Share awarded pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Performance Unit&#148; means a bookkeeping entry awarded pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> of this Plan that records a unit equivalent to $1.00 or such other value as is determined by the Committee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(dd)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Plan&#148; means this 2023 Equity and Incentive Compensation Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(ee)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Predecessor Plan&#148; means the Company&#146;s 2015 Equity and Incentive
Compensation Plan. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(ff)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Restricted Shares&#148; means Common Shares granted or sold
pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6</U></B> of this Plan as to which neither the substantial risk of forfeiture nor the prohibition on transfers has expired. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(gg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Restricted Stock Units&#148; means an award made pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> of this Plan of the right to receive Common Shares or cash at the end of a specified period. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(hh)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Restriction Period&#148; means the period of time during which Restricted Stock
Units are subject to restrictions, as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Spread&#148; means the excess of the Market Value per Share on the date when an
Appreciation Right is exercised over the Option Price or Base Price provided for in the related Option Right or Free-Standing Appreciation Right, respectively. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(jj)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsidiary&#148; means a
corporation, company or other entity (i)&nbsp;more than 50&nbsp;percent of whose outstanding shares or securities (representing the right to vote for the election of directors or other managing authority) are, or (ii)&nbsp;which does not have
outstanding shares or securities (as may be the case in a partnership, joint venture, limited liability company, or unincorporated association), but more than 50&nbsp;percent of whose ownership interest representing the right generally to make
decisions for such other entity is, now or hereafter, owned or controlled, directly or indirectly, by the Company; <U>provided</U>, <U>however</U>, that for purposes of determining whether any person may be a Participant for purposes of any grant of
Incentive Stock Options, &#147;Subsidiary&#148; means any corporation in which at the time the Company owns or controls, directly or indirectly, more than 50&nbsp;percent of the total combined Voting Power represented by all classes of stock issued
by such corporation. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(kk)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Tandem Appreciation Right&#148; means an Appreciation
Right granted pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan that is granted in tandem with an Option Right. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(ll)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Voting Power&#148; means at any time, the combined voting power of the
then-outstanding securities entitled to vote generally in the election of Directors in the case of the Company, or members of the board of directors or similar body in the case of another entity. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Available Under the Plan. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum Shares Available Under Plan</U>. Subject to adjustment as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> of this Plan, the number of Common Shares that may be issued or transferred (A)&nbsp;upon the exercise of Option Rights or Appreciation Rights, (B)&nbsp;as Restricted Shares and released from
substantial risks of forfeiture thereof, (C)&nbsp;in payment of Restricted Stock Units, (D)&nbsp;in payment of Performance Shares or Performance Units that have been earned, (E)&nbsp;as Other Awards, or (F)&nbsp;in payment of dividend equivalents
paid with respect to awards made under the Plan will not exceed in the aggregate (x) 2,025,000 shares, minus (y)&nbsp;as of the Effective Date, one Common Share for every one Common Share subject to an award granted under the Predecessor Plan
between February&nbsp;24, 2023 and the Effective Date, plus (z)&nbsp;any Common Shares that become available under this Plan as a result of forfeiture, cancellation, expiration, or cash settlement of awards, as provided in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(b)</U></B> below. Such shares may be shares of original issuance or treasury shares or a combination of the foregoing. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Share Counting Rules</U>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Common Shares issued or transferred pursuant to an award granted
under this Plan are forfeited, or an award granted under this Plan is cancelled or forfeited, expires or is settled for cash (in whole or in part), the Common Shares issued or transferred pursuant to, or subject to, such award (as applicable) will,
to the extent of such cancellation, forfeiture, expiration, or cash settlement, again be available for issuance or transfer under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(a)</U></B> above. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If after February&nbsp;24, 2023, any Common Shares subject to an award
granted under the Predecessor Plan are forfeited, or an award granted under the Predecessor Plan is cancelled or forfeited, expires or is settled for cash (in whole or in part), the Common Shares subject to such award will, to the extent of such
cancellation, forfeiture, expiration, or cash settlement, be available for issuance or transfer under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(a)</U></B> above. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this
Section&nbsp;3, the following Common Shares will not be added to the aggregate number of Common Shares available for issuance or transfer under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(a)</U></B> above: (A)&nbsp;Common Shares tendered or
otherwise used in payment of the Option Price of an Option Right (or the option price of an option right granted under the Predecessor Plan); (B) Common Shares withheld or otherwise used by the Company to satisfy a tax withholding obligation;
(C)&nbsp;Common Shares subject to an Appreciation Right (or an appreciation right granted under the Predecessor Plan) that are not actually issued in connection with its Common Shares settlement on exercise thereof; and (D)&nbsp;Common Shares
reacquired by the Company on the open market or otherwise using cash proceeds from the exercise of Option Rights (or option rights granted under the Predecessor Plan). In addition, if, under this Plan, a Participant has elected to give up the right
to receive compensation in exchange for Common Shares based on fair market value, such Common Shares will not count against the aggregate plan limit under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(a)</U></B> above. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limit on Incentive Stock Options</U>.
Notwithstanding anything in this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B>, or elsewhere in this Plan, to the contrary and subject to adjustment as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> of this Plan,
the aggregate number of Common Shares actually issued or transferred by the Company upon the exercise of Incentive Stock Options will not exceed 2,025,000 Common Shares. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Individual Participant Limits</U>. Notwithstanding anything in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B>, or elsewhere in this Plan, to the contrary, and subject to adjustment as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> of this Plan: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Participant will be granted Option Rights and/or Appreciation Rights,
in the aggregate, for more than 500,000 Common Shares during any calendar year. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Participant will be granted Restricted Shares, Restricted Stock Units,
Performance Shares and/or Other Awards, in the aggregate, for more than 500,000 Common Shares during any calendar year. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In no event will any Participant in any calendar year receive
Performance Units and/or Other Awards payable in cash having an aggregate maximum value as of their respective Dates of Grant in excess of $5,000,000. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum Vesting Period</U>. Except for Awards granted with respect to a maximum of five
percent (5%) of the Common Shares authorized in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(a)</U></B>, no Award may have a vesting period of less than one year. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>4.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Option Rights. </B>The Committee may, from time to time and upon such terms and
conditions as it may determine, authorize the granting to Participants of Option Rights. Each such grant may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following provisions: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify the number of Common Shares to which it pertains subject to the
limitations set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify an Option Price per share, which (except with respect to awards
under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;22</U></B> of this Plan) may not be less than the Market Value per Share on the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify whether the Option Price will be payable (i)&nbsp;in cash or by
check acceptable to the Company or by wire transfer of immediately available funds, (ii)&nbsp;by the actual or constructive transfer to the Company of Common Shares owned by the Optionee (or other consideration authorized pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4(d)</U></B> of this Plan) having a value at the time of exercise equal to the total Option Price, (iii)&nbsp;subject to any conditions or limitations established by the Committee, the Company&#146;s
withholding of Common Shares otherwise issuable upon exercise of an Option Right pursuant to a &#147;net exercise&#148; arrangement (it being understood that, solely for purposes of determining the number of treasury shares held by the Company, the
Common Shares so withheld will not be treated as issued and acquired by the Company upon such exercise), (iv)&nbsp;by a combination of such methods of payment, or (v)&nbsp;by such other methods as may be approved by the Committee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by law, any grant may provide for deferred payment of the Option
Price from the proceeds of sale through a bank or broker on a date satisfactory to the Company of some or all of the shares to which such exercise relates. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Successive grants may be made to the same Participant whether or not any Option Rights
previously granted to such Participant remain unexercised. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify
the period or periods of continuous service by the Optionee with the Company or any Subsidiary that is necessary before the Option Rights or installments thereof will become exercisable. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant of Option Rights may specify Management Objectives that must be achieved as a
condition to the exercise of such rights. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option Rights granted under this Plan
may be (i)&nbsp;options, including, without limitation, Incentive Stock Options, that are intended to qualify under particular provisions of the Code, (ii)&nbsp;options that are not intended so to qualify, or (iii)&nbsp;combinations of the
foregoing. Incentive Stock Options may only be granted to Participants who meet the definition of &#147;employees&#148; under Section&nbsp;3401(c) of the Code. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The exercise of an Option Right will result in the cancellation on a <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">share-for-share</FONT></FONT> basis of any Tandem Appreciation Right authorized under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Option Right will be exercisable more than 10 years from the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option Rights granted under this Plan may not provide for any dividends or dividend
equivalents thereon. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant of Option Rights will be evidenced by an Evidence of
Award. Each Evidence of Award will be subject to this Plan and will contain such terms and provisions, consistent with this Plan, as the Committee may approve. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appreciation Rights. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may, from time to time and upon such terms and conditions as it may
determine, authorize the granting (i)&nbsp;to any Optionee, of Tandem Appreciation Rights in respect of Option Rights granted hereunder, and (ii)&nbsp;to any Participant, of Free-Standing Appreciation Rights. A Tandem Appreciation Right will be a
right of the Optionee, exercisable by surrender of the related Option Right, to receive from the Company an amount determined by the Committee, which will be expressed as a percentage of the Spread (not exceeding 100&nbsp;percent) at the time of
exercise. Tandem Appreciation Rights may be granted at any time prior to the exercise or termination of the related Option Rights; <U>provided</U>, <U>however</U>, that a Tandem Appreciation Right awarded in relation to an Incentive Stock Option
must be granted concurrently with such Incentive Stock Option. A Free-Standing Appreciation Right will be a right of the Participant to receive from the Company an amount determined by the Committee, which will be expressed as a percentage of the
Spread (not exceeding 100 percent) at the time of exercise. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant of
Appreciation Rights may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following provisions: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant may specify that the amount payable on exercise of an
Appreciation Right will be paid by the Company in cash, Common Shares or any combination thereof. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant may specify that the amount payable on exercise of an
Appreciation Right may not exceed a maximum specified by the Committee at the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant may specify waiting periods before exercise and permissible
exercise dates or periods. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant may specify the period or
periods of continuous service by the Participant with the Company or any Subsidiary that is necessary before the Appreciation Rights or installments thereof will become exercisable. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant of Appreciation Rights may specify Management Objectives that
must be achieved as a condition of the exercise of such Appreciation Rights. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant of Appreciation Rights will be evidenced by an Evidence of
Award, which Evidence of Award will describe such Appreciation Rights, identify the related Option Rights (if applicable), and contain such other terms and provisions, consistent with this Plan, as the Committee may approve. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant of Tandem Appreciation Rights will provide that such Tandem Appreciation Rights
may be exercised only at a time when the related Option Right is also exercisable and at a time when the Spread is positive, and by surrender of the related Option Right for cancellation. Successive grants of Tandem Appreciation Rights may be made
to the same Participant regardless of whether any Tandem Appreciation Rights previously granted to the Participant remain unexercised. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appreciation Rights granted under this
Plan may not provide for any dividends or dividend equivalents thereon. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regarding
Free-Standing Appreciation Rights only: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify in
respect of each Free-Standing Appreciation Right a Base Price, which (except with respect to awards under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;22</U></B> of this Plan) may not be less than the Market Value per Share on the Date of Grant;
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Successive grants may be made to the same Participant regardless of
whether any Free-Standing Appreciation Rights previously granted to the Participant remain unexercised; and </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Free-Standing Appreciation Right granted under this Plan may be
exercised more than 10 years from the Date of Grant. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>6.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Shares.
</B>The Committee may, from time to time and upon such terms and conditions as it may determine, authorize the grant or sale of Restricted Shares to Participants. Each such grant or sale may utilize any or all of the authorizations, and will be
subject to all of the requirements, contained in the following provisions: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such
grant or sale will constitute an immediate transfer of the ownership of Common Shares to the Participant in consideration of the performance of services, entitling such Participant to voting, dividend and other ownership rights, but subject to the
substantial risk of forfeiture and/or restrictions on transfer hereinafter referred to. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale may be made without additional consideration or in consideration
of a payment by such Participant that is less than the Market Value per Share at the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale will provide that the Restricted Shares covered by such grant or
sale that vests upon the passage of time will be subject to a &#147;substantial risk of forfeiture&#148; within the meaning of Section&nbsp;83 of the Code for a period to be determined by the Committee at the Date of Grant or upon achievement of
Management Objectives referred to in subparagraph (e)&nbsp;below. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or
sale will provide that during or after the period for which such substantial risk of forfeiture is to continue, the transferability of the Restricted Shares will be prohibited or restricted in the manner and to the extent prescribed by the Committee
at the Date of Grant (which restrictions may include, without limitation, rights of repurchase or first refusal in the Company or provisions subjecting the Restricted Shares to a continuing substantial risk of forfeiture in the hands of any
transferee). </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant of Restricted Shares may specify Management Objectives that,
if achieved, will result in termination or early termination of the restrictions applicable to such Restricted Shares. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any such grant or sale of Restricted Shares may require that any or all dividends or other
distributions paid thereon during the period of such restrictions be automatically deferred and reinvested in additional Restricted Shares, which may be subject to the same restrictions as the underlying award; <U>provided</U>, <U>however</U>, that
dividends or other distributions on Restricted Shares with restrictions that lapse as a result of the achievement of Management Objectives will be deferred until and paid contingent upon the achievement of the applicable Management Objectives. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant or sale of Restricted Shares will be evidenced by an Evidence of Award and will
contain such terms and provisions, consistent with this Plan, as the Committee may approve. Unless otherwise directed by the Committee, (i)&nbsp;all certificates representing Restricted Shares will be held in custody by the Company until all
restrictions thereon will have lapsed, together with a stock power or powers executed by the Participant in whose name such certificates are registered, endorsed in blank and covering such shares or (ii)&nbsp;all Restricted Shares will be held at
the Company&#146;s transfer agent in book entry form with appropriate restrictions relating to the transfer of such Restricted Shares. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-7- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>7.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Restricted Stock Units. </B>The
Committee may, from time to time and upon such terms and conditions as it may determine, authorize the granting or sale of Restricted Stock Units to Participants. Each such grant or sale may utilize any or all of the authorizations, and will be
subject to all of the requirements, contained in the following provisions: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such
grant or sale will constitute the agreement by the Company to deliver Common Shares or cash to the Participant in the future in consideration of the performance of services, but subject to the fulfillment of such conditions (which may include the
achievement of Management Objectives) during the Restriction Period as the Committee may specify. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale may be made without additional consideration or in consideration
of a payment by such Participant that is less than the Market Value per Share at the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the Restriction Period, the Participant will have no right to transfer any rights
under his or her award and will have no rights of ownership in the Common Shares deliverable upon payment of the Restricted Stock Units and will have no right to vote them, but the Committee may, at the Date of Grant, authorize the payment of
dividend equivalents on such Restricted Stock Units on either a current or deferred or contingent basis, either in cash or in additional Common Shares; <U>provided</U>, <U>however</U>, that dividend equivalents or other distributions on Common
Shares underlying Restricted Stock Units with restrictions that lapse as a result of the achievement of Management Objectives will be deferred until and paid contingent upon the achievement of the applicable Management Objectives. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant or sale of Restricted Stock Units will specify the time and manner of payment
of the Restricted Stock Units that have been earned. Each grant or sale will specify that the amount payable with respect thereto will be paid by the Company in Common Shares or cash, or a combination thereof. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant or sale of Restricted Stock Units will be evidenced by an Evidence of Award and
will contain such terms and provisions, consistent with this Plan, as the Committee may approve. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>8.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Performance Shares and Performance Units. </B>The Committee may, from time to time
and upon such terms and conditions as it may determine, authorize the granting of Performance Shares and Performance Units. Each such grant may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in
the following provisions: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify the number or amount of Performance
Shares or Performance Units, to which it pertains, which number or amount may be subject to adjustment to reflect changes in compensation or other factors. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Performance Period with respect to each Performance Share or Performance Unit will be
such period of time as will be determined by the Committee at the time of grant. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
grant of Performance Shares or Performance Units will specify Management Objectives which, if achieved, will result in payment or early payment of the award, and each grant may specify in respect of such specified Management Objectives a minimum
acceptable level or levels of achievement and may set forth a formula for determining the number of Performance Shares or Performance Units that will be earned if performance is at or above the minimum or threshold level or levels, or is at or above
the target level or levels, but falls short of maximum achievement of the specified Management Objectives. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify the time and manner of payment of Performance Shares or
Performance Units that have been earned. Any grant may specify that the amount payable with respect thereto may be paid by the Company in cash, in Common Shares, in Restricted Shares or Restricted Stock Units or in any combination thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-8- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant of Performance Shares or
Performance Units may specify that the amount payable or the number of Common Shares or Restricted Shares or Restricted Stock Units with respect thereto may not exceed a maximum specified by the Committee at the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may, at the Date of Grant of Performance Shares, provide for the payment of
dividend equivalents to the holder thereof either in cash or in additional Common Shares, subject in all cases to deferral and payment on a contingent basis based on the Participant&#146;s earning of the Performance Shares with respect to which such
dividend equivalents are paid. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant of Performance Shares or Performance Units
will be evidenced by an Evidence of Award and will contain such other terms and provisions, consistent with this Plan, as the Committee may approve. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Awards. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to applicable law and the limit set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of this Plan, the Committee may grant to any Participant such other awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related
to, Common Shares or factors that may influence the value of such shares, including, without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Common Shares, purchase rights for Common Shares,
awards with value and payment contingent upon performance of the Company or specified Subsidiaries, affiliates or other business units thereof or any other factors designated by the Committee, and awards valued by reference to the book value of the
Common Shares or the value of securities of, or the performance of specified Subsidiaries or affiliates or other business units of the Company. The Committee will determine the terms and conditions of such awards. Common Shares delivered pursuant to
an award in the nature of a purchase right granted under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;9</U></B> will be purchased for such consideration, paid for at such time, by such methods, and in such forms, including, without
limitation, Common Shares, other awards, notes or other property, as the Committee determines. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash awards, as an element of or supplement to any other award granted under this Plan,
may also be granted pursuant to this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;9</U></B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may grant Common Shares as a bonus, or may grant other awards in lieu of
obligations of the Company or a Subsidiary to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements, subject to such terms as will be determined by the Committee in a manner that complies with
Section&nbsp;409A of the Code. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administration of this Plan. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Plan will be administered by the Committee. The Committee may from time to time
delegate all or any part of its authority under this Plan to a subcommittee thereof. To the extent of any such delegation, references in this Plan to the Committee will be deemed to be references to such subcommittee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The interpretation and construction by the Committee of any provision of this Plan or of
any agreement, notification or document evidencing the grant of awards under this Plan and any determination by the Committee pursuant to any provision of this Plan or of any such agreement, notification or document will be final and conclusive. No
member of the Committee shall be liable for any such action or determination made in good faith. In addition, the Committee is authorized to take any action it determines in its sole discretion to be appropriate subject only to the express
limitations contained in this Plan, and no authorization in any Plan Section or other provision of this Plan is intended or may be deemed to constitute a limitation on the authority of the Committee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by law, the Committee may delegate to one or more of its members
or to one or more officers of the Company, or to one or more agents or advisors, such administrative duties or powers as it may deem advisable, and the Committee, the subcommittee, or any person to whom duties or powers have been delegated as
aforesaid, may employ one or more persons to render advice with respect to any responsibility the Committee, the subcommittee or such person may have under the Plan. The Committee may, by resolution, authorize one or more officers of the Company to
do one or both of the following on the same basis as </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-9- </P>

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the Committee: (i)&nbsp;designate employees to be recipients of awards under this Plan; and (ii)&nbsp;determine the size of any such awards; <U>provided</U>, <U>however</U>, that (A)&nbsp;the
Committee will not delegate such responsibilities to any such officer for awards granted to an employee who is an officer, Director, or more than 10% beneficial owner of any class of the Company&#146;s equity securities that is registered pursuant
to Section&nbsp;12 of the Exchange Act, as determined by the Committee in accordance with Section&nbsp;16 of the Exchange Act, or any Covered Employee; (B)&nbsp;the resolution providing for such authorization sets forth the total number of Common
Shares such officer(s) may grant; and (C)&nbsp;the officer(s) will report periodically to the Committee regarding the nature and scope of the awards granted pursuant to the authority delegated. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>11.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Adjustments. </B>The Committee shall make or provide for such adjustments in the
numbers of Common Shares covered by outstanding Option Rights, Appreciation Rights, Restricted Stock Units, Performance Shares and Performance Units granted hereunder and, if applicable, in the number of Common Shares covered by Other Awards, in the
Option Price and Base Price provided in outstanding Option Rights and Appreciation Rights, in the kind of shares covered thereby, and in the other terms, as the Committee, in its sole discretion, exercised in good faith, shall determine is equitably
required to prevent dilution or enlargement of the rights of Participants or Optionees that otherwise would result from (a)&nbsp;any stock dividend, stock split, combination of shares, recapitalization or other change in the capital structure of the
Company, (b)&nbsp;any merger, consolidation, <FONT STYLE="white-space:nowrap">spin-off,</FONT> split- off, <FONT STYLE="white-space:nowrap">spin-out,</FONT> <FONT STYLE="white-space:nowrap">split-up,</FONT> reorganization, partial or complete
liquidation or other distribution of assets, issuance of rights or warrants to purchase securities, or (c)&nbsp;any other corporate transaction or event having an effect similar to any of the foregoing. However, such adjustments shall be made
automatically, without the necessity of Committee action, on the customary arithmetical basis in the case of any stock split, including a stock split effected by means of a stock dividend, and in the case of any other dividend paid in shares of the
Company. Moreover, in the event of any such transaction or event or in the event of a Change in Control, the Committee shall provide in substitution for any or all outstanding awards under this Plan such alternative consideration (including cash),
if any, as it, in good faith, shall determine to be equitable in the circumstances and may require in connection therewith the surrender of all awards so replaced in a manner that complies with Section&nbsp;409A of the Code. In addition, for each
Option Right or Appreciation Right with an Option Price or Base Price greater than the consideration offered in connection with any such transaction or event or Change in Control, the Committee may in its discretion elect to cancel such Option Right
or Appreciation Right without any payment to the person holding such Option Right or Appreciation Right. The Committee shall also make or provide for such adjustments in the numbers of shares specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of this Plan as the Committee in its sole discretion, exercised in good faith, shall determine is appropriate to reflect any transaction or event described in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B>; <U>provided</U>, <U>however</U>, that any such adjustment to the number specified in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(c)</U></B> will be made only if and to the extent that
such adjustment would not cause any Option Right intended to qualify as an Incentive Stock Option to fail to so qualify. Any adjustment under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> need not be the same for all Participants.
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Control. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Plan, except as may be otherwise prescribed by the Committee in an
Evidence of Award made under this Plan, a &#147;Change in Control&#148; will be deemed to have occurred upon the occurrence of any of the following events: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any individual, entity or group (within the meaning of
Section&nbsp;13(d)(3) or 14(d)(2) of the Exchange Act) (a &#147;Person&#148;) is or becomes the beneficial owner (within the meaning of <FONT STYLE="white-space:nowrap">Rule&nbsp;13d-3</FONT> promulgated under the Exchange Act) of 30% or more of the
combined voting power of the then-outstanding Voting Stock of the Company; <U>provided</U>, <U>however</U>, that: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:16%; text-indent:7%; font-size:10pt; font-family:Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for purposes of this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(a)(i)</U></B>, the following acquisitions will not constitute a Change in Control: (A)&nbsp;any acquisition of Voting Stock of the Company directly from the Company that is approved by a majority of
the Incumbent Directors, (B)&nbsp;any acquisition of Voting Stock of the Company by the Company or any Subsidiary, (C)&nbsp;any acquisition of Voting Stock of the Company by the trustee or other fiduciary holding securities under any employee
benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary, and (D)&nbsp;any acquisition of Voting Stock of the Company by any Person pursuant to a Business Transaction that complies with clauses&nbsp;(A),
(B)&nbsp;and&nbsp;(C) of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(a)(iii)</U></B> below; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:16%; text-indent:7%; font-size:10pt; font-family:Times New Roman">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if any Person is or
becomes the beneficial owner of 30% or more of combined voting power of the then-outstanding Voting Stock of the Company as a result of a transaction described in clause (A)&nbsp;of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(a)(i)(1)</U></B>
above and such Person thereafter becomes the beneficial owner of any additional shares of Voting Stock of the Company representing 1% or more of the then-outstanding Voting Stock of the Company, other than in an acquisition directly from the Company
that is approved by a majority of the Incumbent Directors or as a result of a stock dividend, stock split or similar transaction effected by the Company in which all holders of Voting Stock are treated equally, such subsequent acquisition will be
treated as a Change in Control; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:16%; text-indent:7%; font-size:10pt; font-family:Times New Roman">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a Change in Control will not be
deemed to have occurred if a Person is or becomes the beneficial owner of 30% or more of the Voting Stock of the Company as a result of a reduction in the number of shares of Voting Stock of the Company outstanding pursuant to a transaction or
series of transactions that is approved by a majority of the Incumbent Directors unless and until such Person thereafter becomes the beneficial owner of any additional shares of Voting Stock of the Company representing 1% or more of the
then-outstanding Voting Stock of the Company, other than as a result of a stock dividend, stock split or similar transaction effected by the Company in which all holders of Voting Stock are treated equally; and </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:16%; text-indent:7%; font-size:10pt; font-family:Times New Roman">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if at least a majority of the Incumbent Directors determine in good faith
that a Person has acquired beneficial ownership of 30% or more of the Voting Stock of the Company inadvertently, and such Person divests as promptly as practicable but no later than the date, if any, set by the Incumbent Board a sufficient number of
shares so that such Person beneficially owns less than 30% of the Voting Stock of the Company, then no Change in Control will have occurred as a result of such Person&#146;s acquisition; or </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a majority of the Board ceases to be comprised of Incumbent Directors; or
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the consummation of a reorganization, merger or consolidation, or
sale or other disposition of all or substantially all of the assets of the Company or the acquisition of the stock or assets of another corporation, or other transaction (each, a &#147;Business Transaction&#148;), unless, in each case, immediately
following such Business Transaction (A)&nbsp;the Voting Stock of the Company outstanding immediately prior to such Business Transaction continues to represent (either by remaining outstanding or by being converted into Voting Stock of the surviving
entity or any parent thereof), more than 50% of the combined voting power of the then outstanding shares of Voting Stock of the entity resulting from such Business Transaction (including, without limitation, an entity which as a result of such
transaction owns the Company or all or substantially all of the Company&#146;s assets either directly or through one or more subsidiaries), (B)&nbsp;no Person (other than the Company, such entity resulting from such Business Transaction, or any
employee benefit plan (or related trust) sponsored or maintained by the Company, any Subsidiary or such entity resulting from such Business Transaction) beneficially owns, directly or indirectly, 30% or more of the combined voting power of the then
outstanding shares of Voting Stock of the entity resulting from such Business Transaction, and (C)&nbsp;at least a majority of the members of the Board of Directors of the entity resulting from such Business Transaction were Incumbent Directors at
the time of the execution of the initial agreement or of the action of the Board providing for such Business Transaction, if earlier; or </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;approval by the shareholders of the Company of a complete liquidation or
dissolution of the Company, except pursuant to a Business Transaction that complies with clauses&nbsp;(A), (B)&nbsp;and&nbsp;(C) of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(a)(iii)</U></B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Specifically defined terms for purposes of
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(a)</U></B>: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board&#148; means the Board of Directors of Lincoln Electric
Holdings, Inc. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-11- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Incumbent
Directors&#148; means the individuals who, as of the date hereof, are Directors of the Company (each, a &#147;Director&#148;) and any individual becoming a Director subsequent to the date hereof whose election, nomination for election by the
Company&#146;s shareholders, or appointment, was approved by a vote of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> of the then Incumbent Directors (either by a specific vote or by approval of the proxy statement of the Company in
which such person is named as a nominee for director, without objection to such nomination); <U>provided</U>, <U>however</U>, that an individual will not be an Incumbent Director if such individual&#146;s election or appointment to the Board occurs
as a result of an actual or threatened election contest (as described in <FONT STYLE="white-space:nowrap">Rule&nbsp;14a-12(c)</FONT> of the Exchange Act) with respect to the election or removal of Directors or other actual or threatened solicitation
of proxies or consents by or on behalf of a Person other than the Board. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsidiary&#148; means an entity in which the Company directly or
indirectly beneficially owns 50% or more of the outstanding Voting Stock. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Voting Stock&#148; means securities entitled to vote generally in
the election of directors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Change in Control, unless otherwise
determined by the Committee or set forth in an Evidence of Award, or as provided for in an individual severance or employment agreement between the Company and Participant, the following acceleration, exercisability, and valuation provisions apply:
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon a Change in Control, if either (A)&nbsp;an award meeting the
requirements of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(c)(ii)</U></B> (a &#147;Replacement Award&#148;) is not provided to the Participant to replace or adjust an outstanding Award (a &#147;Replaced Award&#148;), and the Participant
remains in the continuous employ of the Company or a Subsidiary throughout the period beginning on the Date of Grant and ending on the date of the Change in Control, or (B)&nbsp;the Participant was a party to a severance agreement with the Company
providing for benefits in connection with a Change in Control (a &#147;Severance Agreement&#148;) at the time of the Participant&#146;s termination of employment, and the Participant&#146;s employment was terminated by the Company (x)&nbsp;other
than for Cause or pursuant to an individually negotiated arrangement after the Date of Grant, (y)&nbsp;following the commencement of any discussion with a third person that results in a Change in Control and (z)&nbsp;within twelve months prior to
the Change in Control, then outstanding Option Rights and Appreciation Rights will become fully vested and exercisable and outstanding Restricted Shares, Restricted Stock Units, Performance Units, Performance Shares and Other Awards will become
fully vested (in the case of Awards that are subject to the achievement of performance criteria, such vesting shall be based on the greater of target and actual performance, with actual performance determined by the Committee based upon
(I)&nbsp;actual performance through the most recent date prior to the Change in Control for which achievement of the performance criteria can reasonably be determined and (II)&nbsp;expected performance for the remainder of the applicable performance
period (the &#147;COC Payout Level&#148;)). </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An award meets the
conditions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(c)(ii)</U></B> (and hence qualifies as a Replacement Award) if: (A)&nbsp;it is of the same type as the Replaced Award (in the case of a Replaced Award subject to performance-based
vesting, an award subject to performance-based vesting); (B) it has a value at the time of grant or adjustment at least equal to the value of the Replaced Award; (C)&nbsp;it relates to publicly traded equity securities of the Company or its
successor in the Change in Control or another entity that is affiliated with the Company or its successor following the Change in Control; (D)&nbsp;if the Participant is subject to U.S. federal income tax under the Code, the tax consequences to the
Participant under the Code of the Replacement Award are not less favorable to Participant than the tax consequences of the Replaced Award; and (E)&nbsp;its other terms and conditions are not less favorable to the Participant than the terms and
conditions of the Replaced Award (including the provisions that would apply in the event of a subsequent Change in Control). For purposes of clause (B)&nbsp;of the preceding sentence, &#147;value&#148; with respect to Option Rights and Appreciation
Rights means the Market Value Per Share as determined in connection with the Change in Control over the applicable exercise price, and with respect to an Award subject to the achievement of performance criteria means a value at least equal to the
value of the portion of the Award that would vest at the COC Payout Level. Without limiting the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-12- </P>

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generality of the foregoing, the Replacement Award may take the form of a continuation of the Replaced Award if the requirements of the preceding sentence are satisfied. The determination of
whether the conditions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12(c)(ii)</U></B> are satisfied will be made by the Committee, as constituted immediately before the Change in Control. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; margin-left:11%; text-indent:6%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon (A)&nbsp;a termination of Participant&#146;s employment with the
Company or any successor for Good Reason or (B)&nbsp;a termination of Participant&#146;s employment by the Company or its successor, other than a termination for Cause, or (C)&nbsp;the Participant&#146;s death or disability, in each case, occurring
at or during the period of two years after a Change in Control, (I)&nbsp;all Replacement Awards held by the Participant will become fully vested (with such Replacement Award calculated in a manner which satisfies <B><U>Section 12(c)(ii)</U></B>),
and (II)&nbsp;all Option Rights and Appreciation Rights held by the Participant immediately before such termination of employment that the Participant held as of the date of the Change in Control or that constitute Replacement Awards will become
fully exercisable and will remain exercisable until the expiration of the stated term of such Option Right or Appreciation Right. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>13.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Detrimental Activity and Recapture Provisions</B>. Any Evidence of Award may
provide for the cancellation or forfeiture of an award or the forfeiture and repayment to the Company of any gain related to an award, or other provisions intended to have a similar effect, upon such terms and conditions as may be determined by the
Committee from time to time, if a Participant, either (a)&nbsp;during employment or other service with the Company or a Subsidiary or (b)&nbsp;within a specified period after termination of such employment or service, shall engage in any detrimental
activity. In addition, notwithstanding anything in this Plan to the contrary, any Evidence of Award may also provide for the cancellation or forfeiture of an award or the forfeiture and repayment to the Company of any gain related to an award, or
other provisions intended to have a similar effect, upon such terms and conditions as may be required by the Committee or under Section&nbsp;10D of the Exchange Act and any applicable rules or regulations promulgated by the Securities and Exchange
Commission or any national securities exchange or national securities association on which the Common Shares may be traded. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>14.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Non U.S. Participants. </B>In order to facilitate the making of any grant or
combination of grants under this Plan, the Committee may provide for such special terms for awards to Participants who are foreign nationals or who are employed by the Company or any Subsidiary outside of the United States of America or who provide
services to the Company under an agreement with a foreign nation or agency, as the Committee may consider necessary or appropriate to accommodate differences in local law, tax policy or custom. Moreover, the Committee may approve such supplements to
or amendments, restatements or alternative versions of this Plan (including, without limitation, <FONT STYLE="white-space:nowrap">sub-plans)</FONT> as it may consider necessary or appropriate for such purposes, without thereby affecting the terms of
this Plan as in effect for any other purpose, and the Secretary or other appropriate officer of the Company may certify any such document as having been approved and adopted in the same manner as this Plan. No such special terms, supplements,
amendments or restatements, however, will include any provisions that are inconsistent with the terms of this Plan as then in effect unless this Plan could have been amended to eliminate such inconsistency without further approval by the
shareholders of the Company. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transferability. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise determined by the Committee, no Option Right, Appreciation Right,
Restricted Shares, Restricted Stock Unit, Performance Share, Performance Unit, Other Award or dividend equivalents paid with respect to awards made under this Plan will be transferable by the Participant except pursuant to a domestic relations order
(that contains any information required by the Company to effectuate the transfer) or by will or the laws of descent and distribution, and in no event will any such award granted under the Plan be transferred for value. Except as otherwise
determined by the Committee, Option Rights and Appreciation Rights will be exercisable during the Participant&#146;s lifetime only by him or her or, in the event of the Participant&#146;s legal incapacity to do so, by his or her guardian or legal
representative acting on behalf of the Participant in a fiduciary capacity under state law or court supervision. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may specify at the Date of Grant that part or all of the Common Shares that
are (i)&nbsp;to be issued or transferred by the Company upon the exercise of Option Rights or Appreciation Rights, upon the termination of the Restriction Period applicable to Restricted Stock Units or upon payment under any grant of Performance
Shares or Performance Units or (ii)&nbsp;no longer subject to the substantial risk of forfeiture and restrictions on transfer referred to in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6</U></B> of this Plan, will be subject to further
restrictions on transfer. </P> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-13- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>16.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Withholding Taxes. </B>To the
extent that the Company is required to withhold federal, state, local or foreign taxes in connection with any payment made or benefit realized by a Participant or other person under this Plan, and the amounts available to the Company for such
withholding are insufficient, it will be a condition to the receipt of such payment or the realization of such benefit that the Participant or such other person make arrangements satisfactory to the Company for payment of the balance of such taxes
required to be withheld, which arrangements (in the discretion of the Committee) may include relinquishment of a portion of such benefit. If a Participant&#146;s benefit is to be received in the form of Common Shares, and such Participant fails to
make arrangements for the payment of tax, then, unless otherwise determined by the Committee, the Company will withhold Common Shares having a value equal to the amount required to be withheld. Notwithstanding the foregoing, when a Participant is
required to pay the Company an amount required to be withheld under applicable income and employment tax laws, the Participant may elect, unless otherwise determined by the Committee, to satisfy the obligation, in whole or in part, by having
withheld, from the shares required to be delivered to the Participant, Common Shares having a value equal to the amount required to be withheld or by delivering to the Company other Common Shares held by such Participant. The shares used for tax
withholding will be valued at an amount equal to the market value of such Common Shares on the date the benefit is to be included in Participant&#146;s income. In no event will the market value of the Common Shares to be withheld and delivered
pursuant to this Section to satisfy applicable withholding taxes in connection with the benefit exceed the maximum amount of taxes required to be withheld. Participants will also make such arrangements as the Company may require for the payment of
any withholding tax obligation that may arise in connection with the disposition of Common Shares acquired upon the exercise of Option Rights. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compliance with Section&nbsp;409A of the Code. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent applicable, it is intended that this Plan and any grants made hereunder
comply with the provisions of Section&nbsp;409A of the Code, so that the income inclusion provisions of Section&nbsp;409A(a)(1) of the Code do not apply to the Participants. Any reference in this Plan to Section&nbsp;409A of the Code will also
include any regulations or any other formal guidance promulgated with respect to such Section by the U.S.&nbsp;Department of the Treasury or the Internal Revenue Service. The terms and conditions governing any Awards that the Committee determines
will be subject to Section&nbsp;409A of the Code, including any rules for elective or mandatory deferral of the delivery of cash or Shares pursuant thereto and any rules regarding treatment of such Awards in the event of a Change in Control, shall
be set forth in the applicable Evidence of Award. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither a Participant nor any of a
Participant&#146;s creditors or beneficiaries will have the right to subject any deferred compensation (within the meaning of Section&nbsp;409A of the Code) payable under this Plan and grants hereunder to any anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section&nbsp;409A of the Code, any deferred compensation (within the meaning of Section&nbsp;409A of the Code) payable to a Participant or for a
Participant&#146;s benefit under this Plan and grants hereunder may not be reduced by, or offset against, any amount owing by a Participant to the Company or any of its Subsidiaries. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, at the time of a Participant&#146;s separation from service (within the meaning of
Section&nbsp;409A of the Code), (i)&nbsp;the Participant is a specified employee (within the meaning of Section&nbsp;409A of the Code and using the identification methodology selected by the Company from time to time) and (ii)&nbsp;the Company
determines that an amount payable hereunder constitutes deferred compensation (within the meaning of Section&nbsp;409A of the Code) the payment of which is required to be delayed pursuant to the <FONT STYLE="white-space:nowrap">six-month</FONT>
delay rule set forth in Section&nbsp;409A of the Code in order to avoid taxes or penalties under Section&nbsp;409A of the Code, then the Company will not pay such amount on the otherwise scheduled payment date but will instead pay it, without
interest, on the tenth business day of the seventh month after such separation from service. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each payment under any Award shall be treated as a separate payment for purposes of
Section&nbsp;409A of the Code. In no event may a Participant, directly or indirectly, designate the calendar year of any payment to be made under any Award. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provision of this
Plan and grants hereunder to the contrary, in light of the uncertainty with respect to the proper application of Section&nbsp;409A of the Code, the Company reserves the right to make amendments to this Plan and grants hereunder as the Company deems
necessary or desirable to avoid the imposition of taxes or penalties under Section&nbsp;409A of the Code. In any case, a Participant will be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a
Participant or for a Participant&#146;s account in connection with this Plan and grants hereunder (including any taxes and penalties under Section&nbsp;409A of the Code), and neither the Company nor any of its affiliates will have any obligation to
indemnify or otherwise hold a Participant harmless from any or all of such taxes or penalties. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendments. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board may at any time and from time to time amend this Plan in whole or in part;
<U>provided</U>, <U>however</U>, that if an amendment to this Plan must be approved by the shareholders of the Company in order to comply with applicable law or the rules of the NASDAQ Stock Market or, if the Common Shares are not traded on the
NASDAQ Stock Market, the principal national securities exchange upon which the Common Shares are traded or quoted, then, such amendment will be subject to shareholder approval and will not be effective unless and until such approval has been
obtained. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except in connection with a corporate transaction or event described in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> of this Plan, the terms of outstanding awards may not be amended to reduce the Option Price of outstanding Option Rights or the Base Price of outstanding Appreciation Rights, or cancel
outstanding Option Rights or Appreciation Rights in exchange for cash, other awards or Option Rights or Appreciation Rights with an Option Price or Base Price, as applicable, that is less than the Option Price of the original Option Rights or Base
Price of the original Appreciation Rights, as applicable, without shareholder approval. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;18(b)</U></B> is intended to prohibit the repricing of &#147;underwater&#148; Option Rights and Appreciation
Rights and will not be construed to prohibit the adjustments provided for in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> of this Plan. Notwithstanding any provision of this Plan to the contrary, this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;18(b)</U></B> may not be amended without approval by the Company&#146;s shareholders. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;18(b)</U></B> hereof, the
Committee may amend the terms of any award theretofore granted under this Plan prospectively or retroactively. Subject to<B><U> Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> above, no such amendment will impair the rights of any Participant
without his or her consent. The Board may, in its discretion, terminate this Plan at any time. Termination of this Plan will not affect the rights of Participants or their successors under any awards outstanding hereunder and not exercised in full
on the date of termination. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>19.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Governing Law. </B>This Plan and all grants and
awards and actions taken hereunder will be governed by and construed in accordance with the internal substantive laws of the State of Ohio. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>20.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Effective Date/Termination. </B>This Plan will be effective as of the Effective
Date. No grants will be made on or after the Effective Date under the Predecessor Plan, except that outstanding awards granted under the Predecessor Plan will continue unaffected following the Effective Date. No grant will be made under this Plan
after April&nbsp;19, 2033, but all grants made on or prior to such date will continue in effect thereafter subject to the terms thereof and of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous Provisions. </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will not be required to issue any fractional Common Shares pursuant to this
Plan. The Committee may provide for the elimination of fractions or for the settlement of fractions in cash. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Plan will not confer upon any Participant any right with respect to continuance of
employment or other service with the Company or any Subsidiary, nor will it interfere in any way with any right the Company or any Subsidiary would otherwise have to terminate such Participant&#146;s employment or other service at any time. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;21(e)</U></B>, to
the extent that any provision of this Plan would prevent any Option Right that was intended to qualify as an Incentive Stock Option from qualifying as such, that provision will be null and void with respect to such Option Right. Such provision,
however, will remain in effect for other Option Rights and there will be no further effect on any provision of this Plan. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-15- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No award under this Plan may be
exercised by the holder thereof if such exercise, and the receipt of cash or stock thereunder, would be, in the opinion of counsel selected by the Company, contrary to law or the regulations of any duly constituted authority having jurisdiction over
this Plan. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Absence on leave approved by a duly constituted officer of the Company or
any of its Subsidiaries will not be considered interruption or termination of service of any employee for any purposes of this Plan or awards granted hereunder. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Participant will have any rights as a shareholder with respect to any shares subject to
awards granted to him or her under this Plan prior to the date as of which he or she is actually recorded as the holder of such shares upon the stock records of the Company. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may condition the grant of any award or combination of awards authorized
under this Plan on the surrender or deferral by the Participant of his or her right to receive a cash bonus or other compensation otherwise payable by the Company or a Subsidiary to the Participant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to Option Rights and Appreciation Rights, the Committee may permit
Participants to elect to defer the issuance of Common Share under the Plan pursuant to such rules, procedures or programs as it may establish for purposes of this Plan and which are intended to comply with the requirements of Section&nbsp;409A of
the Code. The Committee also may provide that deferred issuances and settlements include the payment or crediting of dividend equivalents or interest on the deferral amounts. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any provision of this Plan is or becomes invalid, illegal or unenforceable in any
jurisdiction, or would disqualify this Plan or any award under any law deemed applicable by the Committee, such provision will be construed or deemed amended or limited in scope to conform to applicable laws or, in the discretion of the Committee,
it will be stricken and the remainder of this Plan will remain in full force and effect. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this Plan, including
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(e)</U></B>, the vesting of any Award may be accelerated in the event of the Participant&#146;s retirement, death or disability, in connection with a Change in Control pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;12</U></B> or as otherwise provided in the applicable Evidence of Award. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Plan, any dividends or dividend
equivalents credited with respect to any Award shall be subject to the same vesting conditions applicable to such Award. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman"><B>22.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B>&nbsp;&nbsp;&nbsp;&nbsp;Stock-Based Awards in Substitution for Option Rights or Awards Granted by Other
Company. </B>Notwithstanding anything in this Plan to the contrary: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards may be
granted under this Plan in substitution for or in conversion of, or in connection with an assumption of, stock options, stock appreciation rights, restricted stock, restricted stock units or other stock or stock-based awards held by awardees of an
entity engaging in a corporate acquisition or merger transaction with the Company or any Subsidiary. Any conversion, substitution or assumption will be effective as of the close of the merger or acquisition, and, to the extent applicable, will be
conducted in a manner that complies with Section&nbsp;409A of the Code. The awards so granted may reflect the original terms of the awards being assumed or substituted or converted for and need not comply with other specific terms of this Plan, and
may account for Common Shares substituted for the securities covered by the original awards and the number of shares subject to the original awards, as well as any exercise or purchase prices applicable to the original awards, adjusted to account
for differences in stock prices in connection with the transaction. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that
a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary merges has shares available under a <FONT STYLE="white-space:nowrap">pre-existing</FONT> plan previously approved by stockholders and not adopted in
contemplation of such acquisition or merger, the shares available for grant pursuant to the terms of such plan (as adjusted, to the extent appropriate, to reflect such acquisition or merger) may be used for awards made after such acquisition or
merger under the Plan; <U>provided</U>, <U>however</U>, that awards using such available shares may not be made after the date awards or grants could have been made under the terms of the pre-existing plan absent the acquisition or merger, and may
only be made to individuals who were not employees or directors of the Company or any Subsidiary prior to such acquisition or merger. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-16- </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Common Shares that are issued or
transferred by, or that are subject to any awards that are granted by, or become obligations of, the Company under <B><U>Sections</U></B><B><U></U></B><B><U>&nbsp;22(a)</U></B> or<B><U>&nbsp;22(b)</U></B> above will not reduce the Common Shares
available for issuance or transfer under the Plan or otherwise count against the limits contained in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of the Plan. In addition, no Common Shares that are issued or transferred by, or that are
subject to any awards that are granted by, or become obligations of, the Company under <B><U>Sections</U></B><B><U></U></B><B><U>&nbsp;22(a)</U></B> or<B> <U>22(b)</U></B> above will be added to the aggregate plan limit contained in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of the Plan. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LINCOLN ELECTRIC HOLDINGS, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2023 STOCK PLAN FOR <FONT STYLE="white-space:nowrap">NON-EMPLOYEE</FONT> DIRECTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Purposes. </B>The purposes of this 2023 Stock Plan for
<FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors are to: (a)&nbsp;encourage the <FONT STYLE="white-space:nowrap">non-employee</FONT> Directors of the Company to own Common Shares and thereby to align their interests more closely with
the interests of the Company&#146;s other shareholders; (b)&nbsp;encourage the highest level of Director achievement by providing the Directors with a vested interest in the Company&#146;s attainment of its financial goals; and (c)&nbsp;provide
financial incentives that will help attract and retain the most qualified <FONT STYLE="white-space:nowrap">non-employee</FONT> Directors. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">2.<B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions. </B>As used in this Plan:<B> </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Appreciation Right&#148; means a right granted pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan, and will include both Free-Standing Appreciation Rights and Tandem Appreciation Rights. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Award&#148; means an Option Right, an Appreciation Right, Restricted Shares,
Restricted Stock Units, or Other Awards granted in accordance with the terms of the Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Base Price&#148; means the price to be used as the basis for determining the Spread
upon the exercise of a Free-Standing Appreciation Right or a Tandem Appreciation Right. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board&#148; means the Board of Directors of the Company. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Cause&#148; means that, prior to Termination of Service, the Participant shall have:
(i)&nbsp;committed a criminal violation involving fraud, embezzlement or theft in connection with the Participant&#146;s duties or in the course of the Participant&#146;s service as a Director; (ii)&nbsp;committed an intentional violation of the
Lincoln Electric Code of Corporate Conduct and Ethics, or any successor document, (A)&nbsp;in effect at the relevant time if such violation occurs prior to a Change in Control, or (B)&nbsp;in effect immediately prior to a Change in Control if such
violation occurs on or after a Change in Control; (iii)&nbsp;committed intentional wrongful damage to property of the Company or any Subsidiary; (iv)&nbsp;committed intentional wrongful disclosure of secret processes or confidential information of
the Company or any Subsidiary; or (v)&nbsp;committed intentional wrongful engagement in any of the activities set forth in any confidentiality, <FONT STYLE="white-space:nowrap">non-competition</FONT> or
<FONT STYLE="white-space:nowrap">non-solicitation</FONT> arrangement with the Company to which the Participant is a party; and, in each case, any such act shall have been demonstrably and materially harmful (including financially or reputationally
harmful) to the Company. For purposes of this Plan, no act or failure to act on the part of the Participant will be deemed &#147;intentional&#148; if it was due primarily to an error in judgment or negligence, but will be deemed
&#147;intentional&#148; only if done or omitted to be done by the Participant not in good faith and without reasonable belief that the Participant&#146;s action or omission was in the best interest of the Company. Before a Change in Control, the
Committee shall have the sole discretion to determine whether &#147;Cause&#148; exists, and its determination shall be final. After a Change in Control, any determination as to whether &#147;Cause&#148; exists shall be subject to <I>de novo</I>
review. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Change in Control&#148; has the meaning set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Code&#148; means the Internal Revenue Code of 1986, as amended from time to time.
</P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Committee&#148; means the Nominating and Corporate Governance Committee of the
Board (or its successor(s)), or any other committee of the Board designated by the Board to administer this Plan pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;9</U></B> of this Plan consisting solely of no fewer than two <FONT
STYLE="white-space:nowrap">Non-Employee</FONT> Directors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Common Shares&#148;
means the common shares of the Company, without par value, or any security into which such common shares may be changed by reason of any transaction or event of the type referred to in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B> of
this Plan. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Company&#148; means Lincoln
Electric Holdings, Inc., an Ohio corporation, and its successors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Date of
Grant&#148; means the date specified by the Committee on which a grant of Option Rights or Appreciation Rights or Other Awards, or a grant or sale of Restricted Shares, Restricted Stock Units or Other Awards, will become effective (which date will
not be earlier than the date on which the Committee takes action with respect thereto). </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Director&#148; means a member of the Board. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Disability&#148; means permanent and total disability as defined under the
Company&#146;s long-term disability program. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Effective Date&#148; means the
date this Plan is approved by the shareholders of the Company. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Eligible
Director&#148; means a Director who is not an employee of the Company. For purposes of this Plan, an employee is an individual whose wages are subject to the withholding of federal income tax under Section&nbsp;3401 and 3402 of the Code. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Evidence of Award&#148; means an agreement, certificate, resolution or other type or
form of writing or other evidence approved by the Committee that sets forth the terms and conditions of the awards granted under the Plan. An Evidence of Award may be in an electronic medium, may be limited to notation on the books and records of
the Company and, unless otherwise determined by the Committee, need not be signed by a representative of the Company or a Participant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended, and the
rules and regulations thereunder, as such law, rules and regulations may be amended from time to time. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Free-Standing Appreciation Right&#148; means an Appreciation Right granted pursuant
to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan that is not granted in tandem with an Option Right. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Market Value per Share&#148; means, as of any particular date, the closing price of
a Common Share as reported for that date on the NASDAQ Stock Market or, if the Common Shares are not then listed on the NASDAQ Stock Market, on any other national securities exchange on which the Common Shares are listed, or if there are no sales on
such date, on the next preceding trading day during which a sale occurred. If there is no regular public trading market for the Common Shares, then the Market Value per Share shall be the fair market value as determined in good faith by the
Committee. The Committee is authorized to adopt another fair market value pricing method provided such method is stated in the Evidence of Award and is in compliance with the fair market value pricing rules set forth in Section&nbsp;409A of the
Code. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Non-Employee</FONT> Director&#148; means
a person who is a <FONT STYLE="white-space:nowrap">&#147;Non-Employee</FONT> Director&#148; of the Company within the meaning of Rule <FONT STYLE="white-space:nowrap">16b-3</FONT> promulgated under the Exchange Act. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Optionee&#148; means the optionee named in an Evidence of Award evidencing an
outstanding Option Right. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Option Price&#148; means the purchase price payable
on exercise of an Option Right. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Option Right&#148; means the right to purchase
Common Shares upon exercise of an option granted pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Other Award&#148; means an award granted pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> of this Plan. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Participant&#148; means an
Eligible Director who is selected by the Committee to receive benefits under this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Plan&#148; means this 2023 Stock Plan for
<FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Predecessor
Plan&#148; means the Company&#146;s 2015 Stock Plan for <FONT STYLE="white-space:nowrap">Non-Employee</FONT> Directors, as amended. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Restricted Shares&#148; means Common Shares granted or sold pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6</U></B> of this Plan as to which neither the substantial risk of forfeiture nor the prohibition on transfers has expired. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Restricted Stock Units&#148; means an award made pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> of this Plan of the right to receive Common Shares or cash at the end of a specified period. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(dd)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Restriction Period&#148; means the period of time during which Restricted Stock
Units are subject to restrictions, as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;7</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(ee)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Retirement&#148; means, unless otherwise determined by the Committee, a Termination
of Service as a Director at the end of the Director&#146;s term occurring as a result of the Director&#146;s being unable to stand for reelection under the Company&#146;s policy relating to Director retirement. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(ff)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Spread&#148; means the excess of the Market Value per Share on the date when an
Appreciation Right is exercised over the Option Price or Base Price provided for in the related Option Right or Free-Standing Appreciation Right, respectively. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(gg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Tandem Appreciation Right&#148; means an Appreciation Right granted pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan that is granted in tandem with an Option Right. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(hh)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Termination of Service&#148; means the time at which the Director ceases to serve
as a Director for any reason, with or without cause, which includes termination by resignation, removal, death or retirement. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Shares Available Under the Plan</B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum Shares Available Under Plan</U>. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Subject to adjustment as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B> of this Plan,
the number of Common Shares that may be issued or transferred (A)&nbsp;upon the exercise of Option Rights or Appreciation Rights, (B)&nbsp;as Restricted Shares and released from substantial risks of forfeiture thereof, (C)&nbsp;in payment of
Restricted Stock Units, (D)&nbsp;as awards contemplated by <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> of this Plan, or (E)&nbsp;in payment of dividend equivalents paid with respect to awards made under this Plan will not exceed in the
aggregate 200,000&nbsp;shares. Such shares may be shares of original issuance or treasury shares or a combination of the foregoing. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Common Shares covered by an award granted under this Plan will not be counted as used unless and until they are
actually issued and delivered to a Participant. If any Common Shares issued or transferred pursuant to an award granted under this Plan are forfeited, or an award granted under this Plan is cancelled or forfeited, expires or is settled for cash (in
whole or in part), the Common Shares issued or transferred pursuant to, or subject to, such award (as applicable) will, to the extent of such cancellation, forfeiture, expiration, or cash settlement, again be available for issuance or transfer under
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(a)(i)</U></B> </P></TD></TR></TABLE>
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<TD WIDTH="21%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
above. Without limiting the generality of the foregoing, upon payment in cash of the benefit provided by any award granted under this Plan, any Common Shares that were covered by the applicable
portion of such award will be available for issuance or transfer hereunder. Notwithstanding anything to the contrary contained herein: (A)&nbsp;if Common Shares are tendered or otherwise used in payment of the Option Price of an Option Right, the
total number of Common Shares covered by the Option Right being exercised will reduce the aggregate plan limit described above; and (B)&nbsp;the number of Common Shares covered by an Appreciation Right, to the extent that it is exercised and settled
in Common Shares, and whether or not all Common Shares covered by the Appreciation Right are actually issued to the Participant upon exercise of the Appreciation Right, will be considered issued or transferred pursuant to this Plan. In the event
that the Company repurchases Common Shares with Option Right proceeds, such Common Shares will not be added to the aggregate plan limit described above. If, under this Plan, a Participant has elected to give up the right to receive compensation in
exchange for Common Shares based on fair market value, such Common Shares will not count against the aggregate plan limit described above. </TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Individual Participant Limit</U>. Notwithstanding anything in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B>, or elsewhere in this Plan to the contrary, and subject to adjustment as provided in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B> of this Plan, in no event will any Participant
receive in any calendar year (i)&nbsp;Common Share-based awards under this Plan for, in the aggregate, more than 13,000 Common Shares, and (ii)&nbsp;cash-based awards under this Plan having an aggregate maximum value in excess of $300,000. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Minimum Vesting Period</U>. Except for Awards granted with respect to a maximum of five
percent (5%) of the Common Shares authorized in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(a)(i)</U></B>, no Award may have a vesting period of less than one year. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Option Rights. </B>The Committee may, from time to time and upon such terms and
conditions as it may determine, authorize the granting to Participants of Option Rights. Each such grant may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following provisions: </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify the number of Common Shares to which it pertains subject to the
limitations set forth in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify an Option Price per share, which (except with respect to awards
under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20</U></B> of this Plan) may not be less than the Market Value per Share on the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify whether the Option Price will be payable (i)&nbsp;in cash or by
check acceptable to the Company or by wire transfer of immediately available funds, (ii)&nbsp;by the actual or constructive transfer to the Company of Common Shares owned by the Optionee (or other consideration authorized pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;4(d)</U></B> of this Plan) having a value at the time of exercise equal to the total Option Price, (iii)&nbsp;subject to any conditions or limitations established by the Committee, the Company&#146;s
withholding of Common Shares otherwise issuable upon exercise of an Option Right pursuant to a &#147;net exercise&#148; arrangement (it being understood that, solely for purposes of determining the number of treasury shares held by the Company, the
Common Shares so withheld will not be treated as issued and acquired by the Company upon such exercise), (iv) by a combination of such methods of payment, or (v)&nbsp;by such other methods as may be approved by the Committee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by law, any grant may provide for deferred payment of the Option
Price from the proceeds of sale through a bank or broker on a date satisfactory to the Company of some or all of the shares to which such exercise relates. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Successive grants may be made to the
same Participant whether or not any Option Rights previously granted to such Participant remain unexercised. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant will specify the period or periods of continuous service by the Optionee with
the Company that is necessary before the Option Rights or installments thereof will become exercisable. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The exercise of an Option Right will result in the cancellation on a <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">share-for-share</FONT></FONT> basis of any Tandem Appreciation Right authorized under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;5</U></B> of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Option Right will be exercisable more than 10 years from the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option Rights granted under this Plan may not provide for any dividends or dividend
equivalents thereon. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant of Option Rights will be evidenced by an Evidence of
Award. Each Evidence of Award will be subject to this Plan and will contain such terms and provisions, consistent with this Plan, as the Committee may approve. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Appreciation Rights.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may, from time to time and upon such terms and conditions as it may
determine, authorize the granting (i)&nbsp;to any Optionee, of Tandem Appreciation Rights in respect of Option Rights granted hereunder, and (ii)&nbsp;to any Participant, of Free-Standing Appreciation Rights. A Tandem Appreciation Right will be a
right of the Optionee, exercisable by surrender of the related Option Right, to receive from the Company an amount determined by the Committee, which will be expressed as a percentage of the Spread (not exceeding 100 percent) at the time of
exercise. Tandem Appreciation Rights may be granted at any time prior to the exercise or termination of the related Option Rights; <U>provided</U>, <U>however</U>, that a Tandem Appreciation Right awarded in relation to an Incentive Stock Option
must be granted concurrently with such Incentive Stock Option. A Free-Standing Appreciation Right will be a right of the Participant to receive from the Company an amount determined by the Committee, which will be expressed as a percentage of the
Spread (not exceeding 100 percent) at the time of exercise. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant of
Appreciation Rights may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following provisions: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Each grant may specify that the amount payable on exercise of an Appreciation Right will be paid by the Company
in cash, Common Shares or any combination thereof. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Any grant may specify that the amount payable on exercise of an Appreciation Right may not exceed a maximum
specified by the Committee at the Date of Grant. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Any grant may specify waiting periods before exercise and permissible exercise dates or periods.
</P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Each grant may specify the period or periods of continuous service by the Participant with the Company that is
necessary before the Appreciation Rights or installments thereof will become exercisable. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Each grant of Appreciation Rights will be evidenced by an Evidence of Award, which Evidence of Award will
describe such Appreciation Rights, identify the related Option Rights (if applicable), and contain such other terms and provisions, consistent with this Plan, as the Committee may approve. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any grant of Tandem Appreciation Rights
will provide that such Tandem Appreciation Rights may be exercised only at a time when the related Option Right is also exercisable and at a time when the Spread is positive, and by surrender of the related Option Right for cancellation. Successive
grants of Tandem Appreciation Rights may be made to the same Participant regardless of whether any Tandem Appreciation Rights previously granted to the Participant remain unexercised. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Appreciation Rights granted under this Plan may not provide for any dividends or dividend
equivalents thereon. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regarding Free-Standing Appreciation Rights only: </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Each grant will specify in respect of each Free-Standing Appreciation Right a Base Price, which (except with
respect to awards under <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;20</U></B> of this Plan) may not be less than the Market Value per Share on the Date of Grant; </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Successive grants may be made to the same Participant regardless of whether any Free-Standing Appreciation
Rights previously granted to the Participant remain unexercised; and </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No Free-Standing Appreciation Right granted under this Plan may be exercised more than 10 years from the Date
of Grant. </P></TD></TR></TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Restricted Shares. </B>The Committee may, from time to
time and upon such terms and conditions as it may determine, authorize the grant or sale of Restricted Shares to Participants. Each such grant or sale may utilize any or all of the authorizations, and will be subject to all of the requirements,
contained in the following provisions: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale will constitute an
immediate transfer of the ownership of Common Shares to the Participant in consideration of the performance of services, entitling such Participant to voting, dividend and other ownership rights, but subject to the substantial risk of forfeiture
and/or restrictions on transfer hereinafter referred to. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale may
be made without additional consideration or in consideration of a payment by such Participant that is less than the Market Value per Share at the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale will provide that the Restricted Shares covered by such grant or
sale that vests upon the passage of time will be subject to a &#147;substantial risk of forfeiture&#148; within the meaning of Section&nbsp;83 of the Code for a period to be determined by the Committee at the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale will provide that during or after the period for which such
substantial risk of forfeiture is to continue, the transferability of the Restricted Shares will be prohibited or restricted in the manner and to the extent prescribed by the Committee at the Date of Grant (which restrictions may include, without
limitation, rights of repurchase or first refusal in the Company or provisions subjecting the Restricted Shares to a continuing substantial risk of forfeiture in the hands of any transferee). </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any such grant or sale of Restricted Shares may require that any or all dividends or other
distributions paid thereon during the period of such restrictions be automatically deferred and reinvested in additional Restricted Shares, which may be subject to the same restrictions as the underlying award. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant or sale of Restricted Shares
will be evidenced by an Evidence of Award and will contain such terms and provisions, consistent with this Plan, as the Committee may approve. Unless otherwise directed by the Committee, (i)&nbsp;all certificates representing Restricted Shares will
be held in custody by the Company until all restrictions thereon will have lapsed, together with a stock power or powers executed by the Participant in whose name such certificates are registered, endorsed in blank and covering such shares or
(ii)&nbsp;all Restricted Shares will be held at the Company&#146;s transfer agent in book entry form with appropriate restrictions relating to the transfer of such Restricted Shares. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Restricted Stock Units. </B>The Committee may, from time to time and upon such terms and
conditions as it may determine, authorize the granting or sale of Restricted Stock Units to Participants. Each such grant or sale may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the
following provisions: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale will constitute the agreement by the
Company to deliver Common Shares or cash to the Participant in the future in consideration of the performance of services, but subject to the fulfillment of such conditions during the Restriction Period as the Committee may specify. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each such grant or sale may be made without additional consideration or in consideration
of a payment by such Participant that is less than the Market Value per Share at the Date of Grant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the Restriction Period, the Participant will have no right to transfer any rights
under his or her award and will have no rights of ownership in the Common Shares deliverable upon payment of the Restricted Stock Units and will have no right to vote them, but the Committee may, at the Date of Grant, authorize the payment of
dividend equivalents on such Restricted Stock Units on either a current or deferred or contingent basis, either in cash or in additional Common Shares. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant or sale of Restricted Stock Units will specify the time and manner of payment
of the Restricted Stock Units that have been earned. Each grant or sale will specify that the amount payable with respect thereto will be paid by the Company in Common Shares or cash, or a combination thereof. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each grant or sale of Restricted Stock Units will be evidenced by an Evidence of Award and
will contain such terms and provisions, consistent with this Plan, as the Committee may approve. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Other Awards.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to applicable law and the limit set forth in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of this Plan, the Committee may grant to any Participant such other awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related
to, Common Shares or factors that may influence the value of such shares, including, without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Common Shares, purchase rights for Common Shares,
awards with value and payment contingent upon any other factors designated by the Committee, and awards valued by reference to the book value of the Common Shares or the value of securities of the Company. The Committee will determine the terms and
conditions of such awards. Common Shares delivered pursuant to an award in the nature of a purchase right granted under this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B> will be purchased for such consideration, paid for at such time, by
such methods, and in such forms, including, without limitation, Common Shares, other awards, notes or other property, as the Committee determines. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash awards, as an element of or supplement to any other award granted under this Plan,
may also be granted pursuant to this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;8</U></B>. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may grant Common Shares as a bonus, or may grant Other Awards in lieu of
obligations of the Company or a Subsidiary to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements, subject to such terms as will be determined by the Committee in a manner that complies with
Section&nbsp;409A of the Code. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Administration of this Plan.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Plan will be administered by the Committee. The Committee may from time to time
delegate all or any part of its authority under this Plan to a subcommittee thereof. To the extent of any such delegation, references in this Plan to the Committee will be deemed to be references to such subcommittee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The interpretation and construction by the Committee of any provision of this Plan or of
any agreement, notification or document evidencing the grant of awards under this Plan and any determination by the Committee pursuant to any provision of this Plan or of any such agreement, notification or document will be final and conclusive. No
member of the Committee shall be liable for any such action or determination made in good faith. In addition, the Committee is authorized to take any action it determines in its sole discretion to be appropriate subject only to the express
limitations contained in this Plan, and no authorization in any Plan Section or other provision of this Plan is intended or may be deemed to constitute a limitation on the authority of the Committee. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent permitted by law, the Committee may delegate to one or more of its members
or to one or more officers of the Company, or to one or more agents or advisors, such administrative duties or powers as it may deem advisable, and the Committee, the subcommittee, or any person to whom duties or powers have been delegated as
aforesaid, may employ one or more persons to render advice with respect to any responsibility the Committee, the subcommittee or such person may have under the Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Adjustments. </B>The Committee shall make or provide for such adjustments in the numbers
of Common Shares covered by outstanding Option Rights, Appreciation Rights, and Restricted Stock Units granted hereunder and, if applicable, in the number of Common Shares covered by Other Awards, in the Option Price and Base Price provided in
outstanding Option Rights and Appreciation Rights, in the kind of shares covered thereby, and in the other terms, as the Committee, in its sole discretion, exercised in good faith, shall determine is equitably required to prevent dilution or
enlargement of the rights of Participants or Optionees that otherwise would result from (a)&nbsp;any stock dividend, stock split, combination of shares, recapitalization or other change in the capital structure of the Company, (b)&nbsp;any merger,
consolidation, <FONT STYLE="white-space:nowrap">spin-off,</FONT> <FONT STYLE="white-space:nowrap">split-off,</FONT> <FONT STYLE="white-space:nowrap">spin-out,</FONT> <FONT STYLE="white-space:nowrap">split-up,</FONT> reorganization, partial or
complete liquidation or other distribution of assets, issuance of rights or warrants to purchase securities, or (c)&nbsp;any other corporate transaction or event having an effect similar to any of the foregoing. However, such adjustments shall be
made automatically, without the necessity of Committee action, on the customary arithmetical basis in the case of any stock split, including a stock split effected by means of a stock dividend, and in the case of any other dividend paid in shares of
the Company. Moreover, in the event of any such transaction or event or in the event of a Change in Control, the Committee shall provide in substitution for any or all outstanding awards under this Plan such alternative consideration (including
cash), if any, as it, in good faith, shall determine to be equitable in the circumstances and may require in connection therewith the surrender of all awards so replaced in a manner that complies with Section&nbsp;409A of the Code. In addition, for
each Option Right or Appreciation Right with an Option Price or Base Price greater than the consideration offered in connection with any such transaction or event or Change in Control, the Committee may in its sole discretion elect to cancel such
Option Right or Appreciation Right without any payment to the person holding such Option Right or Appreciation Right. The Committee shall also make or provide for such adjustments in the numbers of shares specified in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of this Plan as the Committee in its sole discretion, exercised in good faith, shall determine is appropriate to reflect any transaction or event described in this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B><B>.</B> </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Change in
Control.</B> </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Plan, except as may be otherwise prescribed by the
Committee in an Evidence of Award made under this Plan, a &#147;Change in Control&#148; will be deemed to have occurred upon the occurrence of any of the following events: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any individual, entity or group (within the meaning of Section&nbsp;13(d)(3) or 14(d)(2) of the Exchange Act)
(a &#147;Person&#148;) is or becomes the beneficial owner (within the meaning of Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> promulgated under the Exchange Act) of </P></TD></TR></TABLE>
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<TD WIDTH="21%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
30% or more of the combined Voting Power of the then-outstanding Voting Stock of the Company; <U>provided</U>, <U>however</U>, that: </TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="21%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">for purposes of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(a)(i)</U></B>, the following
acquisitions will not constitute a Change in Control: (A)&nbsp;any acquisition of Voting Stock of the Company directly from the Company that is approved by a majority of the Incumbent Directors, (B)&nbsp;any acquisition of Voting Stock of the
Company by the Company or any Subsidiary, (C)&nbsp;any acquisition of Voting Stock of the Company by the trustee or other fiduciary holding securities under any employee benefit plan (or related trust) sponsored or maintained by the Company or any
Subsidiary, and (D)&nbsp;any acquisition of Voting Stock of the Company by any Person pursuant to a Business Transaction that complies with clauses (A), (B) and (C)&nbsp;of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(a)(iii)</U></B> below;
</P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="21%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">if any Person is or becomes the beneficial owner of 30% or more of combined Voting Power of the
then-outstanding Voting Stock of the Company as a result of a transaction described in clause (A)&nbsp;of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(a)(i)(1)</U></B> above and such Person thereafter becomes the beneficial owner of any
additional shares of Voting Stock of the Company representing 1% or more of the then-outstanding Voting Stock of the Company, other than in an acquisition directly from the Company that is approved by a majority of the Incumbent Directors or as a
result of a stock dividend, stock split or similar transaction effected by the Company in which all holders of Voting Stock are treated equally, such subsequent acquisition will be treated as a Change in Control; </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="21%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">a Change in Control will not be deemed to have occurred if a Person is or becomes the beneficial owner of 30%
or more of the Voting Stock of the Company as a result of a reduction in the number of shares of Voting Stock of the Company outstanding pursuant to a transaction or series of transactions that is approved by a majority of the Incumbent Directors
unless and until such Person thereafter becomes the beneficial owner of any additional shares of Voting Stock of the Company representing 1% or more of the then-outstanding Voting Stock of the Company, other than as a result of a stock dividend,
stock split or similar transaction effected by the Company in which all holders of Voting Stock are treated equally; and </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="21%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">if at least a majority of the Incumbent Directors determine in good faith that a Person has acquired beneficial
ownership of 30% or more of the Voting Stock of the Company inadvertently, and such Person divests as promptly as practicable but no later than the date, if any, set by the Incumbent Board a sufficient number of shares so that such Person
beneficially owns less than 30% of the Voting Stock of the Company, then no Change in Control will have occurred as a result of such Person&#146;s acquisition; or </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">a majority of the Board ceases to be comprised of Incumbent Directors; or </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">the consummation of a reorganization, merger or consolidation, or sale or other disposition of all or
substantially all of the assets of the Company or the acquisition of the stock or assets of another corporation, or other transaction (each, a &#147;Business Transaction&#148;), unless, in each case, immediately following such Business Transaction
(A)&nbsp;the Voting Stock of the Company outstanding </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top">
immediately prior to such Business Transaction continues to represent (either by remaining outstanding or by being converted into Voting Stock of the surviving entity or any parent thereof), more
than 50% of the combined Voting Power of the then outstanding shares of Voting Stock of the entity resulting from such Business Transaction (including, without limitation, an entity which as a result of such transaction owns the Company or all or
substantially all of the Company&#146;s assets either directly or through one or more subsidiaries), (B)&nbsp;no Person (other than the Company, such entity resulting from such Business Transaction, or any employee benefit plan (or related trust)
sponsored or maintained by the Company, any Subsidiary or such entity resulting from such Business Transaction) beneficially owns, directly or indirectly, 30% or more of the combined Voting Power of the then outstanding shares of Voting Stock of the
entity resulting from such Business Transaction, and (C)&nbsp;at least a majority of the members of the Board of Directors of the entity resulting from such Business Transaction were Incumbent Directors at the time of the execution of the initial
agreement or of the action of the Board providing for such Business Transaction, if earlier; or </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">approval by the shareholders of the Company of a complete liquidation or dissolution of the Company, except
pursuant to a Business Transaction that complies with clauses (A), (B) and (C)&nbsp;of <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(a)(iii)</U></B>. </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Specifically defined terms for purposes of
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(a)</U></B>: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">&#147;Board&#148; means the Board of Directors of Lincoln Electric Holdings, Inc. </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">&#147;Incumbent Directors&#148; means the individuals who, as of the date hereof, are Directors of the Company
(each, a &#147;Director&#148;) and any individual becoming a Director subsequent to the date hereof whose election, nomination for election by the Company&#146;s shareholders, or appointment, was approved by a vote of at least <FONT
STYLE="white-space:nowrap">two-thirds</FONT> of the then Incumbent Directors (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such
nomination); <U>provided</U>, <U>however</U>, that an individual will not be an Incumbent Director if such individual&#146;s election or appointment to the Board occurs as a result of an actual or threatened election contest (as described in Rule <FONT
STYLE="white-space:nowrap">14a-12(c)</FONT> of the Exchange Act) with respect to the election or removal of Directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board.
</P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">&#147;Subsidiary&#148; means an entity in which the Company directly or indirectly beneficially owns 50% or
more of the outstanding Voting Stock. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">&#147;Voting Power&#148; means at any time, the combined voting power of the then-outstanding securities
entitled to vote generally in the election of Directors in the case of the Company, or members of the board of directors or similar body in the case of another entity. </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">&#147;Voting Stock&#148; means securities entitled to vote generally in the election of directors.
</P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of a Change in Control,
unless otherwise determined by the Committee or set forth in an Evidence of Award, or as provided for in an individual agreement between the Company and Participant, the following acceleration, exercisability, and valuation provisions apply: </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Except to the extent that an award meeting the requirements of
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(c)(ii)</U></B> (a &#147;Replacement Award&#148;) is provided to the Participant to replace or adjust an outstanding Award (a &#147;Replaced Award&#148;), upon a Change in Control, outstanding Option
Rights and Appreciation Rights will become fully vested and exercisable and outstanding Restricted Shares, Restricted Stock Units and Other Awards will become fully vested. </P></TD></TR></TABLE>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">An award meets the conditions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(c)(ii)</U></B> (and
hence qualifies as a Replacement Award) if: (A)&nbsp;it is of the same type as the Replaced Award; (B)&nbsp;it has a value at the time of grant or adjustment at least equal to the value of the Replaced Award; (C)&nbsp;it relates to publicly traded
equity securities of the Company or its successor in the Change in Control or another entity that is affiliated with the Company or its successor following the Change in Control; (D)&nbsp;if the Participant is subject to U.S. federal income tax
under the Code, the tax consequences to the Participant under the Code of the Replacement Award are not less favorable to Participant than the tax consequences of the Replaced Award; and (E)&nbsp;its other terms and conditions are not less favorable
to the Participant than the terms and conditions of the Replaced Award (including the provisions that would apply in the event of a subsequent Change in Control). For purposes of clause (B)&nbsp;of the preceding sentence, &#147;value&#148; with
respect to Option Rights and Appreciation Rights means the Market Value Per Share as determined in connection with the Change in Control over the applicable exercise price. Without limiting the generality of the foregoing, the Replacement Award may
take the form of a continuation of the Replaced Award if the requirements of the preceding sentence are satisfied. The determination of whether the conditions of this <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11(c)(ii)</U></B> are satisfied
will be made by the Committee, as constituted immediately before the Change in Control. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="16%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Upon a Termination of Service by the Company or its successor other than for Cause, or due to death or
disability, at or during the period of two years after a Change in Control, <B><I></I></B>(A) all Replacement Awards held by the Participant will become fully vested (with such Replacement Award calculated in a manner which satisfies
<B><U>Section&nbsp;11(c)(ii)</U></B>), and (B)&nbsp;all Option Rights and Appreciation Rights held by the Participant immediately before such Termination of Service that the Participant held as of the date of the Change in Control or that constitute
Replacement Awards will become fully exercisable and will remain exercisable until the expiration of the stated term of such Option Right or Appreciation Right. </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Recapture Provisions</B>. Notwithstanding anything in this Plan to the contrary, any
Evidence of Award may provide for the cancellation or forfeiture of an award or the forfeiture and repayment to the Company of any gain related to an award, or other provisions intended to have a similar effect, upon such terms and conditions as may
be required by the Committee or under Section&nbsp;10D of the Exchange Act and any applicable rules or regulations promulgated by the Securities and Exchange Commission or any national securities exchange or national securities association on which
the Common Shares may be traded. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Non U.S. Participants.</B> In order to facilitate
the making of any grant or combination of grants under this Plan, the Committee may provide for such special terms for awards to Participants who are foreign nationals or who are employed by the Company or any Subsidiary outside of the United States
of America or who provide services to the Company under an agreement with a foreign nation or agency, as the Committee may consider necessary or appropriate to accommodate differences in local law, tax policy or custom. Moreover, the
</P>
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Committee may approve such supplements to or amendments, restatements or alternative versions of this Plan (including, without limitation, <FONT STYLE="white-space:nowrap">sub-plans)</FONT> as it
may consider necessary or appropriate for such purposes, without thereby affecting the terms of this Plan as in effect for any other purpose, and the Secretary or other appropriate officer of the Company may certify any such document as having been
approved and adopted in the same manner as this Plan. No such special terms, supplements, amendments or restatements, however, will include any provisions that are inconsistent with the terms of this Plan as then in effect unless this Plan could
have been amended to eliminate such inconsistency without further approval by the shareholders of the Company. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Transferability.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise determined by the Committee, no Option Right, Appreciation Right,
Restricted Shares, Restricted Stock Unit, Other Award or dividend equivalents paid with respect to awards made under this Plan will be transferable by the Participant except pursuant to a domestic relations order (that contains<B> </B>any
information required by the Company to effectuate the transfer) or by will or the laws of descent and distribution, and in no event will any such award granted under the Plan be transferred for value. Except as otherwise determined by the Committee,
Option Rights and Appreciation Rights will be exercisable during the Participant&#146;s lifetime only by him or her or, in the event of the Participant&#146;s legal incapacity to do so, by his or her guardian or legal representative acting on behalf
of the Participant in a fiduciary capacity under state law or court supervision. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee may specify at the Date of Grant that part or all of the Common Shares that are (i)&nbsp;to be issued or transferred by the Company upon the exercise of Option Rights or Appreciation Rights or upon the termination of the Restriction Period
applicable to Restricted Stock Units or (ii)&nbsp;no longer subject to the substantial risk of forfeiture and restrictions on transfer referred to in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;6</U></B> of this Plan, will be subject to further
restrictions on transfer. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Compliance with Section</B><B></B><B>&nbsp;409A of the
Code.</B> </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent applicable, it is intended that this Plan and any grants made
hereunder comply with the provisions of Section&nbsp;409A of the Code, so that the income inclusion provisions of Section&nbsp;409A(a)(1) of the Code do not apply to the Participants. This Plan and any grants made hereunder will be administered in a
manner consistent with this intent. Any reference in this Plan to Section&nbsp;409A of the Code will also include any regulations or any other formal guidance promulgated with respect to such Section by the U.S.&nbsp;Department of the Treasury or
the Internal Revenue Service. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither a Participant nor any of a Participant&#146;s
creditors or beneficiaries will have the right to subject any deferred compensation (within the meaning of Section&nbsp;409A of the Code) payable under this Plan and grants hereunder to any anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance, attachment or garnishment. Except as permitted under Section&nbsp;409A of the Code, any deferred compensation (within the meaning of Section&nbsp;409A of the Code) payable to a Participant or for a Participant&#146;s benefit
under this Plan and grants hereunder may not be reduced by, or offset against, any amount owing by a Participant to the Company or any of its Subsidiaries. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, at the time of a Participant&#146;s separation from service (within the meaning of
Section&nbsp;409A of the Code), (i)&nbsp;the Participant is a specified employee (within the meaning of Section&nbsp;409A of the Code and using the identification methodology selected by the Company from time to time) and (ii)&nbsp;the Company makes
a good faith determination that an amount payable hereunder constitutes deferred compensation (within the meaning of Section&nbsp;409A of the Code) the payment of which is required to be delayed pursuant to the
<FONT STYLE="white-space:nowrap">six-month</FONT> delay rule set forth in Section&nbsp;409A of the Code in order to avoid taxes or penalties under Section&nbsp;409A of the Code, then the Company will not pay such amount on the otherwise scheduled
payment date but will instead pay it, without interest, on the tenth business day of the seventh month after such separation from service. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each payment under any award granted
under this Plan shall be treated as a separate payment for purposes of Section&nbsp;409A of the Code. In no event may a Participant, directly or indirectly, designate the calendar year of any payment to be made under any award granted under this
Plan. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provision of this Plan and grants hereunder to the
contrary, in light of the uncertainty with respect to the proper application of Section&nbsp;409A of the Code, the Company reserves the right to make amendments to this Plan and grants hereunder as the Company deems necessary or desirable to avoid
the imposition of taxes or penalties under Section&nbsp;409A of the Code. In any case, a Participant will be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a Participant or for a
Participant&#146;s account in connection with this Plan and grants hereunder (including any taxes and penalties under Section&nbsp;409A of the Code), and neither the Company nor any of its affiliates will have any obligation to indemnify or
otherwise hold a Participant harmless from any or all of such taxes or penalties. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Amendments.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board may at any time and from time to time amend this Plan in whole or in part;
provided, however, that if an amendment to this Plan must be approved by the shareholders of the Company in order to comply with applicable law or the rules of the NASDAQ Stock Market or, if the Common Shares are not traded on the NASDAQ Stock
Market, the principal national securities exchange upon which the Common Shares are traded or quoted, then, such amendment will be subject to shareholder approval and will not be effective unless and until such approval has been obtained. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except in connection with a corporate transaction or event described in
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B> of this Plan, the terms of outstanding awards may not be amended to reduce the Option Price of outstanding Option Rights or the Base Price of outstanding Appreciation Rights, or cancel
outstanding Option Rights or Appreciation Rights in exchange for cash, other awards or Option Rights or Appreciation Rights with an Option Price or Base Price, as applicable, that is less than the Option Price of the original Option Rights or Base
Price of the original Appreciation Rights, as applicable, without shareholder approval. This <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16(b)</U></B> is intended to prohibit the repricing of &#147;underwater&#148; Option Rights and Appreciation
Rights and will not be construed to prohibit the adjustments provided for in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B> of this Plan. Notwithstanding any provision of this Plan to the contrary, this
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16(b)</U></B> may not be amended without approval by the Company&#146;s shareholders. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If permitted by Section&nbsp;409A of the Code, but subject to the paragraph that follows,
including in the case of termination of service as a <FONT STYLE="white-space:nowrap">non-employee</FONT> director by reason of death, Disability or Retirement, or in the case of unforeseeable emergency or other special circumstances or in the event
of a Change in Control, to the extent a Participant holds an Option Right or Appreciation Right not immediately exercisable in full, or any Restricted Shares as to which the substantial risk of forfeiture or the prohibition or restriction on
transfer has not lapsed, or any Restricted Stock Units as to which the Restriction Period has not been completed, or any Other Awards subject to any vesting schedule or transfer restriction, or who holds Common Shares subject to any transfer
restriction imposed pursuant to <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;14(b)</U></B> of this Plan, the Committee may, in its sole discretion, accelerate the time at which such Option Right, Appreciation Right or other award may be exercised
or the time at which such substantial risk of forfeiture or prohibition or restriction on transfer will lapse or the time when such Restriction Period will end or when such awards will be deemed to have been fully earned or the time when such
transfer restriction will terminate or may waive any other limitation or requirement under any such award. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;16(b)</U></B> hereof, the Committee may amend the terms of any award theretofore granted under this Plan prospectively or retroactively. Subject to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;10</U></B> above, no such amendment will impair the rights of any Participant without his or her consent. The Board may, in its discretion, terminate this Plan at any time. Termination of this Plan will
not affect the rights of Participants or their successors under any awards outstanding hereunder and not exercised in full on the date of termination. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Governing Law. </B>This Plan and all grants and awards and actions taken hereunder will
be governed by and construed in accordance with the internal substantive laws of the State of Ohio. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Effective Date/Termination. </B>This
Plan will be effective as of the Effective Date. No grants will be made on or after the Effective Date under the Predecessor Plan, except that outstanding awards granted under the Predecessor Plan will continue unaffected following the Effective
Date. No grant will be made under this Plan after April&nbsp;19, 2033, but all grants made on or prior to such date will continue in effect thereafter subject to the terms thereof and of this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Miscellaneous Provisions.</B> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will not be required to issue any fractional Common Shares pursuant to this
Plan. The Committee may provide for the elimination of fractions or for the settlement of fractions in cash. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Plan will not confer upon any Participant any right with respect to continuance of
service as a Director of the Company, nor will it interfere in any way with any right the Company would otherwise have to terminate such Participant&#146;s service at any time. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No award under this Plan may be exercised by the holder thereof if such exercise, and the
receipt of cash or stock thereunder, would be, in the opinion of counsel selected by the Company, contrary to law or the regulations of any duly constituted authority having jurisdiction over this Plan. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Participant will have any rights as a shareholder with respect to any shares subject to
awards granted to him or her under this Plan prior to the date as of which he or she is actually recorded as the holder of such shares upon the stock records of the Company. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee may condition the grant of any award or combination of awards authorized
under this Plan on the surrender or deferral by the Participant of his or her right to receive a cash bonus or other compensation otherwise payable by the Company or a Subsidiary to the Participant. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to Option Rights and Appreciation Rights, the Committee may permit
Participants to elect to defer the issuance of Common Share under the Plan pursuant to such rules, procedures or programs as it may establish for purposes of this Plan and which are intended to comply with the requirements of Section&nbsp;409A of
the Code. The Committee also may provide that deferred issuances and settlements include the payment or crediting of dividend equivalents or interest on the deferral amounts. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any provision of this Plan is or becomes invalid, illegal or unenforceable in any
jurisdiction, or would disqualify this Plan or any award under any law deemed applicable by the Committee, such provision will be construed or deemed amended or limited in scope to conform to applicable laws or, in the discretion of the Committee,
it will be stricken and the remainder of this Plan will remain in full force and effect. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this Plan, including
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3(c)</U></B>, the vesting of any Award may be accelerated in the event of the Participant&#146;s retirement, death or disability, in connection with a Change in Control pursuant to
<B><U>Section</U></B><B><U></U></B><B><U>&nbsp;11</U></B> or as otherwise provided in the applicable Evidence of Award. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary contained in this Plan, any dividends or dividend
equivalents credited with respect to any Award shall be subject to the same vesting conditions applicable to such Award. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Stock-Based Awards in Substitution for Option Rights</B> <B>or Awards Granted by Other
Company.</B> Notwithstanding anything in this Plan to the contrary: </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards may be
granted under this Plan in substitution for or in conversion of, or in connection with an assumption of, stock options, stock appreciation rights, restricted stock, restricted stock units or other stock or stock-based awards held by awardees of an
entity engaging in a corporate acquisition or merger </P>
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transaction with the Company or any Subsidiary. Any conversion, substitution or assumption will be effective as of the close of the merger or acquisition, and, to the extent applicable, will be
conducted in a manner that complies with Section&nbsp;409A of the Code. The awards so granted may reflect the original terms of the awards being assumed or substituted or converted for and need not comply with other specific terms of this Plan, and
may account for Common Shares substituted for the securities covered by the original awards and the number of shares subject to the original awards, as well as any exercise or purchase prices applicable to the original awards, adjusted to account
for differences in stock prices in connection with the transaction. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that
a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary merges has shares available under a <FONT STYLE="white-space:nowrap">pre-existing</FONT> plan previously approved by stockholders and not adopted in
contemplation of such acquisition or merger, the shares available for grant pursuant to the terms of such plan (as adjusted, to the extent appropriate, to reflect such acquisition or merger) may be used for awards made after such acquisition or
merger under the Plan; <U>provided</U>, <U>however</U>, that awards using such available shares may not be made after the date awards or grants could have been made under the terms of the <FONT STYLE="white-space:nowrap">pre-existing</FONT> plan
absent the acquisition or merger, and may only be made to individuals who were not employees or directors of the Company or any Subsidiary prior to such acquisition or merger. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:11%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Common Shares that are issued or transferred by, or that are subject to any awards
that are granted by, or become obligations of, the Company under <B><U>Sections</U></B><B><U></U></B><B><U>&nbsp;20(a)</U></B> or<B><U>&nbsp;20(b)</U></B> above will not reduce the Common Shares available for issuance or transfer under the Plan or
otherwise count against the limits contained in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of the Plan. In addition, no Common Shares that are issued or transferred by, or that are subject to any awards that are granted by, or become
obligations of, the Company under <B><U>Sections</U></B><B><U></U></B><B><U>&nbsp;20(a)</U></B> or<B><U>&nbsp;20(b)</U></B> above will be added to the aggregate plan limit contained in <B><U>Section</U></B><B><U></U></B><B><U>&nbsp;3</U></B> of the
Plan. </P>
</DIV></Center>

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<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>4
<FILENAME>leco-20230419.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20221108.6 -->
<!-- Creation date: 4/21/2023 10:58:54 PM Eastern Time -->
<!-- Copyright (c) 2023 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<xsd:schema
  xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric"
  xmlns:num="http://www.xbrl.org/dtr/type/numeric"
  xmlns:us-types="http://fasb.org/us-types/2022"
  xmlns:leco="http://lincolnelectric.com/20230419"
  xmlns:dei="http://xbrl.sec.gov/dei/2022"
  xmlns:xbrli="http://www.xbrl.org/2003/instance"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
  attributeFormDefault="unqualified"
  elementFormDefault="qualified"
  targetNamespace="http://lincolnelectric.com/20230419"
  xmlns:xsd="http://www.w3.org/2001/XMLSchema">
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/instance" />
    <xsd:import schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" namespace="http://www.xbrl.org/2003/linkbase" />
    <xsd:import schemaLocation="https://xbrl.sec.gov/dei/2022/dei-2022.xsd" namespace="http://xbrl.sec.gov/dei/2022" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/numeric" />
    <xsd:import schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" namespace="http://www.xbrl.org/dtr/type/non-numeric" />
    <xsd:import schemaLocation="https://xbrl.sec.gov/naics/2022/naics-2022.xsd" namespace="http://xbrl.sec.gov/naics/2022" />
    <xsd:import schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" namespace="http://xbrl.org/2005/xbrldt" />
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="leco-20230419_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:title="Label Links, all" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="leco-20230419_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:title="Presentation Links, all" xlink:type="simple" />
      <link:roleType roleURI="http://lincolnelectric.com//20230419/taxonomy/role/DocumentDocumentAndEntityInformation" id="Role_DocumentDocumentAndEntityInformation">
        <link:definition>100000 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
</xsd:schema>
</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>leco-20230419_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20221108.6 -->
<!-- Creation date: 4/21/2023 10:58:54 PM Eastern Time -->
<!-- Copyright (c) 2023 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cover [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cover [Abstract]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Flag</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Flag</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Central Index Key</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Type</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Type</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Period End Date</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation State Country Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, City or Town</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, State or Province</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Written Communications</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Written Communications</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Soliciting Material</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Soliciting Material</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Issuer Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security 12b Title</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security 12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>leco-20230419_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20221108.6 -->
<!-- Creation date: 4/21/2023 10:58:54 PM Eastern Time -->
<!-- Copyright (c) 2023 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
    xmlns:link="http://www.xbrl.org/2003/linkbase"
    xmlns:xlink="http://www.w3.org/1999/xlink"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
    xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://lincolnelectric.com//20230419/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="leco-20230419.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://lincolnelectric.com//20230419/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityRegistrantName" order="22.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_AmendmentFlag" order="23.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityCentralIndexKey" order="24.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentType" order="26.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_DocumentPeriodEndDate" order="27.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityIncorporationStateCountryCode" order="28.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityFileNumber" order="29.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityTaxIdentificationNumber" order="30.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressAddressLine1" order="31.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressCityOrTown" order="32.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressStateOrProvince" order="33.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressPostalZipCode" order="34.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_CityAreaCode" order="35.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_LocalPhoneNumber" order="36.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_WrittenCommunications" order="37.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SolicitingMaterial" order="38.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementTenderOffer" order="39.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementIssuerTenderOffer" order="40.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_Security12bTitle" order="41.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_TradingSymbol" order="42.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SecurityExchangeName" order="43.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityEmergingGrowthCompany" order="44.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm140473613889328">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Apr. 19, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">LINCOLN ELECTRIC HOLDINGS INC<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000059527<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Apr. 19,  2023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">OH<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">0-1402<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">34-1860551<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">22801 St. Clair Avenue<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Cleveland<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">OH<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">44117<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(216)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">481-8100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Common Shares, without par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">LECO<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
