Company: NC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0000789933-25-000012
Chunk: 52

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 52
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 to the NEOs under the table below, we have assumed that a change in control occurred on December 31, 2024. However, there can be no assurance that a change in control would produce the same or similar results as those described if it occurs on any other date or if any assumption is not correct in fact.

| POTENTIAL PAYMENTS UPON TERMINATION/CHANGE IN CONTROL |     |                   |     |                                                                                                      |     |                                                            |
|                                                       |     | Name              |     | Estimated Total Value of Payments Based on Incentive Plan Award Targets in Year of Change in Control 
                                                                                              ($) (1) |     | Estimated Total Value of all Payments on Change in Control 
                                                    ($) (2) |
|                                                       |     | J.C. Butler, Jr.  |     |                                                                                           $2,370,374 |     |                                                 $2,370,374 |
|                                                       |     | Carroll L. Dewing |     |                                                                                             $434,191 |     |                                                   $434,191 |
|                                                       |     | John D. Neumann   |     |                                                                                             $388,065 |     |                                                   $388,065 |

(1) This column reflects the award targets under the 2024 incentive plans for the NEOs. Under the change in control provisions of the plans, the NEOs are assumed to have been entitled to receive their award targets for 2024 if a change in control had occurred on December 31, 2024. Awards under the Long-Term Equity Plan are denominated in dollars and the amounts shown in the above-table reflect the dollar-denominated 2024 target awards. As described in Note (4) to the Grants of Plan-Based Awards Table, Messrs. Butler, Dewing and Neumann would receive approximately 35% of the value of the award in cash, and the remainder in shares of restricted Class A Common.

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(2) A "change in control" for purposes of these plans generally consists of any of the following, provided that the event otherwise qualifies as a change in control under the regulations issued under Section 409A of the Code:

(A) An acquisition of more than 50% of the voting securities of the Company (for those plans that cover the employees of the Company) or the voting securities of the subsidiary (for those plans which cover the employees of the subsidiary); other than acquisitions directly from the Company or the subsidiary, as applicable, involving (1) any