Exhibit 10.1 (an)


 


AMENDMENT
NUMBER 9

TO THE

SAUER-DANFOSS EMPLOYEES’

SAVINGS PLAN

(As Amended and Restated Effective January 1, 1997)


 


By virtue and in exercise of
the amending power reserved to Sauer-Danfoss (US) Company (the “Company”) by
Section 14.1 of Sauer-Danfoss Employees’ Savings Plan as amended and restated
effective January 1, 1997 (the “Plan”) and pursuant to the authority delegated
to the undersigned officer of the Company by the Employee Benefits Committee of
the Company, the Plan is hereby amended, effective as of January 1, 2003, as
follows:


 


1.                                       The Plan is amended by deleting the last two
sentences in Section 12.8(b) of the Plan, which begin “All distribution” and
“Any Plan provisions.”


 


2.                                       The Plan is amended by deleting Section
12.8(f) in its entirety and substituting the following 12.8(f) in its place:


 


“(f)                              If a Participant dies before distribution of
his interest has begun, distribution of his entire interest shall be completed
by December 31 of the calendar year containing the fifth anniversary of his
death. However, if a portion of the Participant’s interest is to be paid to a
Beneficiary designated by him, that portion may, if the other provisions of
this Plan so provide, be distributed over the life or life expectancy of the
Beneficiary. In that case, distribution must begin not later than December 31
of the calendar year following the calendar year of the Participant’s death. If
the Beneficiary is the Participant’s surviving spouse, and other provisions of
the Plan so provide, distribution need not begin until December 31 of the
calendar year in which the Participant would have attained age 70l/2.
If the surviving Spouse dies before distribution to her begins, then for
purposes of the requirements of this and the preceding subsections (concerning
the latest date a distribution may begin and the longest period of time over
which payments may be made), the surviving spouse shall be treated as if she
were the Participant.”


 


3.                                       The Plan is amended by adding the following
new Section I2.8(g):


 


“(g)                           Notwithstanding any provision of the Plan to
the contrary, with respect to distributions under the Plan for calendar years
beginning on or after January 1, 2003, the Plan will apply the minimum
distribution requirements of Section 401(a)(9) of the Code in accordance with
the final regulations under Section 401(a)(9) of the Code that were published
in the Federal Register on April 17, 2002 and in accordance with revenue
rulings, notices and other guidance published in the Internal Revenue Bulletin
reflecting Section 401(a)(9) of the Code. In addition, any distribution
required under the incidental death benefit rule of Section 401(a)(9)(G) of the
Code shall be treated as a distribution required under this paragraph.”


 

















 


IN WITNESS
WHEREOF, the Company has authorized the execution on its behalf this Amendment
Number 9, this 18th day of December, 2003.


 


 


	
   

  	
  SAUER DANFOSS (US) COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James T.
  Remus

  	
   

  
	
   

  	
   

  	
  James T.
  Remus

  	
   

  
	
   

  	
   

  	
  Director -
  Global Compensation and Benefits