Company: NC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0000789933-25-000012
Chunk: 66

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 66
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other than Messrs. LaBarre, A. Rankin, and Taplin and General Robinson). The amount listed also includes charitable contributions made in our name on behalf of the Director and their spouse under our matching charitable gift program in the amount of $5,000 for each Director (other than General Robinson and Messrs. McDonald, M. Rankin, and Shapard, whose amount is $0, and Ms. Gentile Sachs, whose amount is $2,500). Note (4) below describes additional amounts reported in the "All Other Compensation" column for A. Rankin.

(4) Upon Mr. Alfred M. Rankin Jr.'s retirement from the Company, the Company and Mr. A. Rankin entered into a consulting agreement independent of his continuing role as the Non-Executive Chairman of the Board. The Company believes that Mr. Rankin's extensive experience transitioning NACCO from underground mining to surface mining in

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the 1980s is vital as the Company pursues non-coal mining opportunities. Mr. Rankin meets with senior management on a regular basis to discuss growth and diversification strategies, including (a) possible investment opportunities in our mitigation resources and minerals management businesses, (b) improving return on capital for investments at MLMC and North American Mining, (c) developing other non-coal mining opportunities, and (d) our rebranding efforts. Mr. Rankin meets with the CEO more frequently, which can be numerous times a month, to further discuss Company strategy. The Company pays Mr. Rankin a monthly consulting fee of $16,666.67 for services under the consulting agreement. The consulting agreement continued in effect until December 31, 2024. In addition to the items described in Note (3) above, the amount reported for Mr. Rankin in the "All Other Compensation" column includes $200,000 in consulting fees paid for 2024.

Additional Information Relating to the Director Compensation Table

Each non-employee Director is entitled to receive the following compensation for service on our Board and the NNR Board:

| Type of Compensation         |     | Amount                                                                                                                                                                                                                  |
| Annual Board Retainer:       |     | $175,000 ($110,000 of which is required to be paid in shares of Class A Common) except that the Chairman receives an annual retainer of $250,000 ($150,000 of which is required to be paid in shares of Class A Common) |