Exhibit 10(o)


 


AMENDMENT
TO THE PACCAR INC SAVINGS INVESTMENT PLAN


 


(Amendment and Restatement Effective January 1, 2007)


 


Effective January 1,
2009, Sections 5.1 and 5.2 of the PACCAR Inc  Savings Investment Plan (the “SIP”)
shall be amended to read in its entirety as follows:


 


“5.1         Amount of Company Contributions


 


The Company may, in its sole discretion, make
one or more Company Contributions during each Plan Year with respect to Members’
Salary Deferrals (other than Age 50 Catch-Up Deferrals).  The Company’s rate of contribution and the
frequency and manner in which the Company makes its contributions shall be
decided by the Company in its sole discretion with respect to each Plan
Year.  The aggregate amount of Company
Contributions for each Plan Year shall be equal to the sum of the amounts
allocated for such Plan Year to Members pursuant to Section 5.2.  Company Contributions may be made in the form
of PACCAR Stock.  Company Contributions
shall be paid to the Trustee as soon as practicable following the end of the
period for which the contributions are being made, but shall in no event be
paid to the Trustee later than the due date for filing the Company’s federal
income tax return (including extensions) for the Plan Year.


 


5.2           Allocation of Company Contributions


 


Company Contributions, determined under Section 5.1,
shall be allocated to Members, subject to such eligibility conditions as the
Company may determine with respect to each Plan Year,  in an amount equal to the lesser of (1) a
percentage, to be determined each Plan Year in the Company’s sole discretion,
of the aggregate Salary Deferrals (other than Age 50 Catch-Up Deferrals) made
by each eligible Member during the Plan Year, not including Salary Deferrals
returned to the Member pursuant to Sections 4.5, 4.9 or 15.3, or (2) a
percentage, to be determined each Plan Year in the Company’s sole discretion,
of Compensation received during the portion of the Plan Year that the eligible
Member is an Eligible Employee and a Member (including a Restricted Member).  Company Contributions may be allocated in the
form of PACCAR Stock.”


 


Effective
January 1, 2009, Section 5.9 of the SIP shall be deleted in its entirety,
Sections 5.10 through 5.12 shall be renumbered accordingly, and all
cross-references shall be amended accordingly.


 


Effective January 1,
2009, the first paragraph of Section 5.10 (formerly Section 5.11) of the SIP
shall be amended to read in its entirety as follows:


 


“Each Member who has completed three or more
years of service (as defined below), may elect at any time to transfer any
whole percentage of the amount of the Member’s Company Contributions Account
then invested in one Investment Option (including the PACCAR Stock Fund) to
another Investment Option (including the PACCAR Stock 


 

















 


Fund) in accordance with the Company’s written
procedures.  Any future Company
Contributions allocated to such Member may, in the Company’s sole discretion,
continue to be allocated to the Member’s Company Contributions Account in the
form of PACCAR Stock.”


 


Effective January 1,
2009, Section 7.2(b) of the SIP shall be amended to read in its entirety as
follows:


 


“(b)                           Contributions Credited


 


The Company shall credit to each Member’s
Company Contributions Account the amount of any Company Contributions allocated
as of such day or days within the Plan Year as the Company shall determine in
its sole discretion.  The Company shall
credit to each Member’s Salary Deferral Accounts the amount of Salary Deferrals
withheld, transfers from Company Contributions Accounts received and Rollover
Contributions received in such calendar month.”


 


Witness
the execution of
this Amendment to the PACCAR Inc Savings
Investment Plan (Amendment and
Restatement Effective January 1, 2007).


 


	
   

  	
  PACCAR
  Inc

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ M. C. Pigott

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Chairman &
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  Dated:

  	
  March 12,
  2009

  



 


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