Exhibit 10(l)

                LINCOLN ELECTRIC HOLDINGS, INC. AND SUBSIDIARIES

                        SUMMARY OF EMPLOYMENT AGREEMENTS


Messrs.  Elliot and Stueber entered into employment  agreements in June 1993 and
February 1995,  respectively.  Those  agreements  contain many terms that are no
longer in effect.  Certain terms do,  however,  survive.  Surviving  terms grant
credited service for purposes of the SERP of 32 and 22 years,  respectively,  as
of their  respective dates of hire,  assuming a normal  retirement age of 60 and
service of 45 years at age 65 for both. Mr. Elliott has a  participation  factor
under the SERP of 100%. Mr. Elliott's  agreement provides that his SERP benefits
will not be offset by his former employer's defined  contribution plan (but will
be offset by his former employer's  defined benefit plan). The agreement for Mr.
Elliott also provides for severance pay equal to one year's base salary if he is
terminated  without cause.  The agreement for Mr. Stueber provides that if he is
terminated without cause, prior to his sixth anniversary, he will be entitled to
severance pay equal to three times his total  compensation  (base and bonus) for
the preceding year.  Thereafter,  through his tenth  anniversary,  severance pay
equals two year's total compensation.