Exhibit 10.1(bu)


 


 


AMENDMENT NUMBER FOUR

TO

FACTORY PENSION PLAN OF SAUER-DANFOSS (LASALLE) AND INTERNATIONAL UNION, UNITED
AUTOMOBILE, AEROSPACE AND AGRICULTURAL IMPLEMENT WORKERS OF AMERICA, AND IT’S
LOCAL UNION NO. 285


(As
Amended and Restated Effective January 1, 1999)


WHEREAS, Sauer-Danfoss (US) Company sponsors the
Factory Pension Plan of Sauer-Danfoss (LaSalle) and International Union, United
Automobile, Aerospace and Agricultural Implement Workers of America, and Its
Local Union No. 285 (the “Plan”); and


WHEREAS, the Company and the UAW Local Union No.
285 (the “Union”) have agreed that such determination to amend the Plan at the
IRS request is in the best interest of the Company and its employees.


NOW,
THEREFORE,
pursuant to Section 19.2 of the Plan, the Company hereby amends the Plan as
follows, effective as of the dates set forth below:


1.             Effective September
30, 2004, by deleting Section 4.2 in its entirety and inserting the following
new Section 4.2 in its place as a part thereof:


4.2.          Benefit
Amount.  An Employee’s Normal
Retirement Benefit shall be calculated by multiplying the Employee’s Years of
Participation at the time of his or her Severance From Service Date (as
adjusted, if necessary, in accordance with Section 3.5) and multiplied by the sum
of his or her respective Pension Multiplier set forth in Section 1A.1 of
Schedule 1 attached hereto and his or her respective Add-on Pension Multiplier,
if applicable, set forth in Section 1A.2 of Schedule 1 attached hereto.


2.             Effective as of
September 30, 2004, by deleting Section 10.1 in its entirety and inserting the
following new Section 10.1 in its place as a part thereof:


                10.1         Eligibility.  A


(a)                                  retired Employee (other than a retired Employee
whose eligibility for Retirement Benefit accrued under the provisions of
Article VIII), or


(b)                                 surviving spouse of a deceased Employee
or deceased retired Employee, (other than the surviving spouse of a deceased
Employee whose eligibility for a Retirement Benefit accrued under the
provisions of Article VIII) who is receiving a Retirement Benefit under the
Plan, or


(c)                                  Employee who is receiving disability
benefits under Title II of the Federal Social Security Act and subscribes to
Medicare Part B,


 


 





















 


(hereinafter referred to as a “Special Age 65
Retiree”) shall be eligible for a special age 65 benefit.


3.             Effective as of
September 30, 2004, by deleting Section 10.2 in its entirety and inserting the
following new Section 10.2 in its place as a part thereof:


10.2.        Benefit Amount.  The monthly amount of a
special age 65 benefit payable to a Special Age 65 Retiree shall be determined
from the following table:


 


	
  If
  You Qualify As A Special

  Age 65 Retiree, Then Effective:

  	
   

  	
  Your Monthly Special Age 65

  Benefit Amount Is Equal To:

  
	
  Prior to January 1,
  1988

  	
   

  	
  $

  	
  3.00

  
	
  As of January 1, 1988

  	
   

  	
  $

  	
  5.00

  
	
  As of January 1, 1989

  	
   

  	
  $

  	
  7.00

  
	
  As of January 1, 1990

  	
   

  	
  $

  	
  9.00

  
	
  As of January 1, 1991

  	
   

  	
  $

  	
  10.00

  
	
  As of January 1, 1992

  	
   

  	
  $

  	
  12.50

  
	
  As of January 1, 1993

  	
   

  	
  $

  	
  15.00

  
	
  As of January 1, 1994

  	
   

  	
  $

  	
  17.50

  
	
  As of September 1, 2004

  	
   

  	
  $

  	
  20.00

  



 


Notwithstanding anything to the contrary, this Section
10.2 is intended to reflect that a Special Age 65 Retiree’s monthly special age
65 benefit amount is periodically increased for any adjustment as of any new
effective date identified in the above chart for any negotiated increase to the
special age 65 benefit with the Union.


4.             By deleting Schedule 1 to the Factory Pension Plan of
Sauer-Danfoss (LaSalle) and International Union, United Automobile, Aerospace
and Agricultural Implement Workers of America, and its Local Union No. 285 in
its entirety and inserting the following new Schedule 1 in its place as a part
thereof:


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Schedule
1 to the 

Factory Pension Plan of Sauer-Danfoss (LaSalle) and 

International Union, United Automobile, Aerospace 

and Agricultural Implement Workers of America, and its Local Union No. 285


1A.1.       Amount of Pension
Multiplier.  For purposes of Section
4.2 of the Plan, the Pension Multiplier for an Employee who incurs a Severance
from Service Date (as adjusted, if necessary, in accordance with Section 3.5)
will be determined in accordance with the following:




	
  If
  Your Severance from Service Date Occurs On or After:

  	
   

  	
  But Your Severance from Service Date
  Occurs On or Before:

  	
   

  	
  Then the Pension

  Multiplier Applicable to

  You Is:

  
	
  January 1, 1987

  	
   

  	
  December 31, 1987

  	
   

  	
  $

  	
  15.00

  
	
  January 1, 1988

  	
   

  	
  December 31, 1988

  	
   

  	
  $

  	
  15.50

  
	
  January 1, 1989

  	
   

  	
  December 31, 1989

  	
   

  	
  $

  	
  16.00

  
	
  January 1, 1990

  	
   

  	
  December 31, 1990

  	
   

  	
  $

  	
  16.50

  
	
  January 1, 1991

  	
   

  	
  December 31, 1991

  	
   

  	
  $

  	
  17.00

  
	
  January 1, 1992

  	
   

  	
  December 31, 1992

  	
   

  	
  $

  	
  19.00

  
	
  January 1, 1993

  	
   

  	
  December 31, 1993

  	
   

  	
  $

  	
  20.00

  
	
  January 1, 1994

  	
   

  	
  December 31, 1994

  	
   

  	
  $

  	
  21.00

  
	
  January 1, 1995

  	
   

  	
  August 31, 1996

  	
   

  	
  $

  	
  22.00

  
	
  September 1, 1996

  	
   

  	
  August 31, 1997

  	
   

  	
  $

  	
  24.00

  
	
  September 1, 1997

  	
   

  	
  August 31, 1998

  	
   

  	
  $

  	
  25.00

  
	
  September 1, 1998

  	
   

  	
  August 31, 1999

  	
   

  	
  $

  	
  27.00

  
	
  September 1, 1999

  	
   

  	
  August 31, 2000

  	
   

  	
  $

  	
  28.00

  
	
  September 1, 2000

  	
   

  	
  April 30, 2001

  	
   

  	
  $

  	
  29.00

  
	
  May 1, 2001

  	
   

  	
  August 31, 2004

  	
   

  	
  $

  	
  37.00

  
	
  September 1, 2004

  	
   

  	
  —

  	
   

  	
  $

  	
  38.00

  



 


3





















 


1A.2.       Amount of Add-on
Pension Multiplier.  For purposes of
Section 4.2 of the Plan, the Add-on Pension Multiplier for an Employee who
incurs a Severance from Service Date (as adjusted, if necessary, in accordance
with Section 3.5) will be determined in accordance with the following:




	
  If
  Your Severance from Service Date Occurs On or After:

  	
   

  	
  But Your Severance from Service Date
  Occurs On or Before:

  	
   

  	
  Then the Add-on Pension Multiplier
  Applicable to You For Purposes of Section 

  4.2, 5.2, 6.2 and 7.3 for the
  Following Respective Time Periods are:

  
	
   

  	
   

  	
  From 1/1/89 through 12/31/90

  	
   

  	
  From 1/1/91 through 12/31/92

  	
   

  	
  From 1/1/93 through 12/31/93

  	
   

  	
  From 1/1/94 through 1/31/95

  	
   

  	
  From 2/1/95 through 12/31/97

  	
   

  	
  From 1/1/98 through 12/31/98

  	
   

  	
  From 1/1/99 through 8/31/01

  	
   

  	
  From 9/1/01 through present

  
	
  January 1, 1987

  	
   

  	
  December 31, 1987

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  1.00

  	
   

  	
  $

  	
  1.50

  	
   

  	
  $

  	
  2.00

  	
   

  	
  $

  	
  3.00

  	
   

  	
  $

  	
  3.50

  	
   

  	
  $

  	
  4.00

  	
   

  	
  $

  	
  5.50

  
	
  January 1, 1988

  	
   

  	
  December 31, 1988

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  1.00

  	
   

  	
  $

  	
  1.50

  	
   

  	
  $

  	
  2.00

  	
   

  	
  $

  	
  3.00

  	
   

  	
  $

  	
  3.50

  	
   

  	
  $

  	
  4.00

  	
   

  	
  $

  	
  5.50

  
	
  January 1, 1989

  	
   

  	
  December 31, 1990

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  1.00

  	
   

  	
  $

  	
  1.50

  	
   

  	
  $

  	
  2.00

  	
   

  	
  $

  	
  3.00

  	
   

  	
  $

  	
  3.50

  	
   

  	
  $

  	
  4.00

  	
   

  	
  $

  	
  5.50

  
	
  January 1, 1991

  	
   

  	
  December 31, 1992

  	
   

  	
  —

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  1.00

  	
   

  	
  $

  	
  1.50

  	
   

  	
  $

  	
  2.50

  	
   

  	
  $

  	
  3.00

  	
   

  	
  $

  	
  3.50

  	
   

  	
  $

  	
  5.00

  
	
  January 1, 1993

  	
   

  	
  December 31, 1993

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  1.00

  	
   

  	
  $

  	
  2.00

  	
   

  	
  $

  	
  2.50

  	
   

  	
  $

  	
  3.00

  	
   

  	
  $

  	
  4.50

  
	
  January 1, 1994

  	
   

  	
  January 31, 1995

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  1.50

  	
   

  	
  $

  	
  2.00

  	
   

  	
  $

  	
  2.50

  	
   

  	
  $

  	
  4.00

  
	
  February 1, 1995

  	
   

  	
  December 31, 1997

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  1.00

  	
   

  	
  $

  	
  1.50

  	
   

  	
  $

  	
  2.00

  	
   

  	
  $

  	
  3.50

  
	
  January 1, 1998

  	
   

  	
  December 31, 1998

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  1.00

  	
   

  	
  $

  	
  2.50

  
	
  January 1, 1999

  	
   

  	
  October 31, 2001

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  .50

  	
   

  	
  $

  	
  2.00

  
	
  September 1, 2001

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  —

  	
   

  	
  $

  	
  1.50

  



 


Notwithstanding anything to the contrary, any
Employee, whose Retirement Benefit has accrued under the Plan solely due to
Article VII of this Plan, is ineligible and not entitled to any Add-on Pension
Multiplier in accordance with this Section 1A.2 of this Schedule 1.


 


IN
WITNESS WHEREOF, the Company has authorized the execution on its behalf of this
Amendment Number Four this 31st day of December, 2004.


	
   

  	
   

  
	
  Sauer-Danfoss
  (U.S.) Company

  	
   

  
	
  /s/
  SUZANNE R. SOBKOWIAK

  	
   

  
	
   

  	
   

  
	
  /s/
  JAMES T. REMUS

  	
   

  



4





















 


IN
WITNESS WHEREOF, the Company has authorized the execution on its behalf of this
Amendment Number Four this 31st day of December, 2004.


 


	
  UAW, Local Union No. 285

  	
   

  
	
   

  	
   

  
	
  /s/ WILLIAM C. FALASSI

  	
   

  
	
   

  	
   

  
	
  /s/ EDWARD F. WROBLESKI

  	
   

  



 


 


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