EXHIBIT 10.1
FIRST AMENDMENT TO LOAN, SECURITY AND GUARANTY AGREEMENT
THIS FIRST AMENDMENT TO LOAN, SECURITY AND GUARANTY AGREEMENT (this “First
Amendment”) is dated as of March 31, 2014, among HYSTER-YALE MATERIALS HANDLING,
INC., a Delaware corporation (“Parent”), NACCO MATERIALS HANDLING GROUP, INC., a
Delaware corporation (“NMHG”, and together with Parent, the “U.S. Borrowers”),
NACCO MATERIALS HANDLING B.V., a private company with limited liability
incorporated under the laws of the Netherlands having its corporate seat in
Nijmegen (“NACCO BV”), N.M.H. INTERNATIONAL B.V., a private company with limited
liability incorporated under the laws of the Netherlands having its corporate
seat in Nijmegen (“NMH International”), N.M.H. HOLDING B.V., a private company
with limited liability incorporated under the laws of the Netherlands having its
corporate seat in Nijmegen (“Holding BV”, and together with NACCO BV and NMH
International, the “Dutch Borrowers”), NACCO MATERIALS HANDLING LIMITED, a
company incorporated in England and Wales with company number 02636775 (the “UK
Borrower” and, together with the Dutch Borrowers and the U.S. Borrowers, the
“Borrowers” and each, a “Borrower”), the Persons party hereto as Guarantors, the
Lenders signatory hereto, and BANK OF AMERICA, N.A., a national banking
association, in its capacity as administrative agent ( “Agent”).
RECITALS:
A.    The Borrowers, the persons party thereto from time to time as guarantors
(the “Guarantors”), the financial institutions party thereto from time to time
as lenders (the “Lenders”) and Agent entered into that certain Loan, Security
and Guaranty Agreement dated as of December 18, 2013 (the “Loan Agreement”),
pursuant to which the Lenders have agreed to make Loans and provide certain
other credit accommodations to the Borrowers.
B.    The Borrowers have requested that Agent and the Required Lenders agree to
amend the Loan Agreement as set forth herein in order to remove the requirement
that each Obligor conduct an annual physical inventory.
C.    Subject to the conditions in Section 2, the Required Lenders have agreed
to such request and to amend the Loan Agreement as set forth herein;
NOW THEREFORE, for and in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Obligors, Agent and the
Lenders hereby agree as follows:
Section 1.Loan Agreement Amendment.    In reliance on the representations,
warranties, covenants and agreements contained in this First Amendment, the Loan
Agreement shall be amended effective as of the First Amendment Effective Date
(as defined below) in the manner provided in this Section 1.

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1.1    Amendment to Section 8.3.1. Section 8.3.1 of the Loan Agreement shall be
restated in its entirety as follows:
8.3.1.    Records and Reports of Inventory. Each Obligor shall keep accurate and
complete records of its Inventory, including costs and daily withdrawals and
additions, and shall submit to Agent inventory and reconciliation reports in
form satisfactory to Agent, on such periodic basis as Agent may request.  Each
Obligor shall conduct periodic cycle counts consistent with historical practice,
and shall provide to Agent such supporting information as Agent may request.
Section 2.    Conditions Precedent to Loan Agreement Amendment. The amendment to
the Loan Agreement contained in Section 1 hereof is subject to the satisfaction
of each of the following conditions precedent (the date on which all such
conditions are satisfied, the “First Amendment Effective Date”):
2.1    First Amendment. Agent shall have received counterparts of this First
Amendment executed on behalf of Agent, each Obligor and the Required Lenders.
2.2    Representations and Warranties. The representations and warranties of
each Obligor in this First Amendment and the other Loan Documents shall be true
and correct in all material respects (or, with respect to representations and
warranties qualified by materiality, in all respects) on and as of the First
Amendment Effective Date (except for representations and warranties that
expressly relate to an earlier date which shall be true and correct on such
date).
2.3    No Defaults. No Default or Event of Default shall have occurred and be
continuing.
2.4    Other Documents and Actions. The Obligors shall have provided to Agent
such other documents and taken such other actions as reasonably requested by
Agent.
Section 3.    Representations and Warranties. To induce the Lenders and Agent to
enter into this First Amendment, each Obligor hereby represents and warrants to
the Lenders and Agent as follows:
3.1    Loan Document Representations and Warranties. Prior to and after giving
effect to this First Amendment, the representations and warranties of such
Obligor contained in Section 9 of the Loan Agreement, or which are contained in
any other Loan Documents, are true and correct in all material respects (or,
with respect to representations and warranties qualified by materiality, in all
respects) on and as of the First Amendment Effective Date (except for
representations and warranties that expressly relate to an earlier date which
shall be true and correct on such date).
3.2    Power and Authority. Each Obligor party hereto is duly authorized to
execute, deliver and perform the First Amendment. The execution, delivery and
performance of the First Amendment has been duly authorized by all necessary
action, and does not (a) require any consent or approval of any holders of
Equity Interests of any Obligor, except those

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already obtained; (b) contravene the Organic Documents of any Obligor; (c)
violate or cause a default under any Applicable Law or Material Contract; or (d)
result in or require imposition of a Lien (other than Permitted Liens) on any
Obligor’s Property.
3.3    Enforceability. The First Amendment is a legal, valid and binding
obligation of each Obligor party hereto, enforceable in accordance with its
terms, except as enforceability may be limited by bankruptcy, insolvency or
similar laws affecting the enforcement of creditors’ rights generally.
3.4    No Defaults. No event or circumstance has occurred or exists that
constitutes a Default or Event of Default.
Section 4.    Miscellaneous.
4.1    Reaffirmation of Loan Documents. All of the terms and provisions of the
Loan Agreement and the other Loan Documents shall, except as amended and
modified hereby, remain in full force and effect and are hereby ratified and
affirmed by the Obligors. The amendment to the Loan Agreement contemplated
hereby shall not limit or impair any Liens securing the Obligations, which Liens
are hereby ratified and affirmed by the Obligors. This First Amendment is a Loan
Document.
4.2    Reaffirmation of Guaranty. Each Guarantor hereby ratifies and affirms its
guaranty obligations under Section 5.10 of the Loan Agreement and any other
Guaranty executed by such Guarantor in favor of Agent and agrees that such
Guarantor continues to unconditionally and irrevocably guarantee the prompt
payment and performance of the Obligations thereunder.
4.3    Parties in Interest. All of the terms and provisions of this First
Amendment shall bind and inure to the benefit of the parties hereto and their
respective successors and assigns.
4.4    Legal Expenses. The Borrowers hereby agree to pay on demand all
reasonable fees and expenses of counsel to Agent incurred by Agent in connection
with the preparation, negotiation and execution of this First Amendment and all
related documents.
4.5    Counterparts; Execution. This First Amendment may be executed in
counterparts, and all parties need not execute the same counterpart. The
amendment to the Loan Agreement set forth in Section 1 of this First Amendment
shall become effective when Agent has received counterparts bearing the
signatures of all required parties hereto and Section 2 is satisfied. Facsimiles
or other electronic transmissions (e.g., .pdf) shall be effective as originals.
4.6    Entire Agreement. THIS FIRST AMENDMENT, THE LOAN AGREEMENT AND THE OTHER
LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS

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BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN AGREEMENTS BETWEEN THE PARTIES.
4.7    Headings. The headings, captions and arrangements used in this First
Amendment are, unless specified otherwise, for convenience only and shall not be
deemed to limit, amplify or modify the terms of this First Amendment, nor affect
the meaning thereof.
4.8    Governing Law. This First Amendment shall be governed by the laws of the
State of New York, without giving effect to any conflict of law provisions (but
giving effect to section 5-1401 of the New York general obligation law and
federal laws relating to national banks).
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IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be
duly executed by their respective authorized officers as of the day and year
first above written.

HYSTER-YALE MATERIALS HANDLING, INC.,
as a U.S. Borrower and a Guarantor

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Vice President

NACCO MATERIALS HANDLING
GROUP, INC., as U.S. Borrower and a Guarantor

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Vice President

HYSTER OVERSEAS CAPITAL
CORPORATION, LLC, as a Guarantor

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Secretary

NMHG OREGON, LLC, as a Guarantor

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Assistant Secretary

            
            

Signature Page to First Amendment to Loan Agreement

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NACCO MATERIALS HANDLING B.V., as a Dutch Borrower and a Guarantor

By: NACCO MATERIALS HANDLING
GROUP, LTD., its Managing Director
 
 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Director

N.M.H. INTERNATIONAL B.V., as a Dutch Borrower and a Guarantor

By: NACCO MATERIALS HANDLING
GROUP, LTD., its Managing Director

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Director

N.M.H. HOLDING B.V., as a Dutch Borrower and a Guarantor

By: NACCO MATERIALS HANDLING
GROUP, LTD., its Managing Director

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Director

N.M.H. DISTRIBUTION B.V., as a Guarantor

By: NACCO MATERIALS HANDLING
GROUP, LTD., its Managing Director

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Director

Signature Page to First Amendment to Loan Agreement

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NACCO MATERIALS HANDLING LIMITED, as a UK Borrower and a Guarantor

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Director

NACCO MATERIALS HANDLING
GROUP, LTD., as a Guarantor

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Director

NACCO MATERIALS HANDLING
S.P.A., as a Guarantor

 
By:
/s/ Charles Bittenbender
 
 
Name: Charles Bittenbender
 
 
Title: Director

Signature Page to First Amendment to Loan Agreement

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BANK OF AMERICA, N.A., as Agent and a U.S. Lender

 
By:
/s/ John W. Mundstock
 
 
Name: John W. Mundstock
 
 
Title: SVP

                
BANK OF AMERICA, N.A. (acting through its London Branch), as European Security
Trustee and a Foreign Lender

 
By:
/s/ John W. Mundstock
 
 
Name: John W. Mundstock
 
 
Title: SVP

Signature Page to First Amendment to Loan Agreement

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CITIBANK, N.A., as a U.S. Lender and a Foreign Lender

 
By:
/s/ Matthew Paquin
 
 
Name: Matthew Paquin
 
 
Title: Vice President and Director

            

Signature Page to First Amendment to Loan Agreement

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HSBC BANK USA, NATIONAL ASSOCIATION, as a U.S. Lender and a Foreign Lender

 
By:
/s/ Tara C. O'Boyle
 
 
Name: Tara C. O'Boyle
 
 
Title: Assistant Vice President

                

Signature Page to First Amendment to Loan Agreement

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WELLS FARGO BANK, N.A., as a U.S. Lender

 
By:
/s/ Kevin Fong
 
 
Name: Kevin Fong
 
 
Title: Authorized Signatory

                
WELLS FARGO BANK, NATIONAL ASSOCIATION, LONDON BRANCH, as a Foreign Lender

 
By:
/s/ Tania Saloantia
 
 
Name: Tania Saloantia
 
 
Title: Authorized Signatory

                

Signature Page to First Amendment to Loan Agreement

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KEYBANK NATIONAL ASSOCIATION, as a U.S. Lender and a Foreign Lender

 
By:
/s/ Nadine M. Eames
 
 
Name: Nadine M. Eames
 
 
Title: Vice President

                

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FIFTH THIRD BANK, as a U.S. Lender and a Foreign Lender

 
By:
/s/ Martin H. McGinty
 
 
Name: Martin H. McGinty
 
 
Title: Vice President

                

Signature Page to First Amendment to Loan Agreement

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RBS CITIZENS BUSINESS CAPITAL, a division of RBS ASSET FINANCE, INC., a
subsidiary of RBS CITIZENS, N.A., as a U.S. Lender and a Foreign Lender

 
By:
/s/ David Slattery
 
 
Name: David Slattery
 
 
Title: Vice President

                

Signature Page to First Amendment to Loan Agreement

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INTESA SANPAOLO S.P.A., as a U.S. Lender and a Foreign Lender

 
By:
/s/ Cristina Cignoli
 
 
Name: Cristina Cignoli
 
 
Title: VP & Relationship Manager

            
 
By:
/s/ Francesco Di Mario
 
 
Name: Francesco Di Mario
 
 
Title: FVP & Head of Credit

                
    

Signature Page to First Amendment to Loan Agreement