mrbamendment10.htm


     

    
      

      

    

    Exhibit 10.2


    COLUMBUS
McKINNON CORPORATION

    MONTHLY
RETIREMENT BENEFIT PLAN

    


    Amendment
No. 10 of the 1998 Plan Restatement

    


    


    Columbus McKinnon Corporation (the
"Company") hereby amends the Columbus McKinnon Corporation Monthly Retirement
Benefit Plan (the "Plan"), as amended and restated in its entirety effective
April 1, 1998, and as further amended by Amendment Nos. 1 through 9, as
permitted under Section 10.1 of the Plan, in order to reflect Treasury
regulations issued under Code Section 415 in April 2007, as
follows:

    


    


    1.           Article
XI, entitled “Section 415 Limitations”, is amended effective April 1, 2008 to
read as follows:

    


    


    ARTICLE
XI

    


    SECTION
415 LIMITATIONS

    


    11.1  Incorporation
of Section 415 by Reference.

    


    (a)  In
General.  Code Section 415 generally limits annual benefits
payable under the Plan and accumulated benefit accruals under the Plan by
providing that such benefits and accruals may not exceed the lesser of $160,000
(as adjusted for cost of living increases after 2001) or 100 percent of the
Participant’s average Section 415(c)(3) compensation for his high three
years.  These limits must be adjusted if the Participant retires
before or after his Normal Retirement Date, receives his benefit in a form other
than a life annuity, has less than 10 years of service, has multiple annuity
starting dates  or has a retroactive annuity starting
date.

    


               (b)  Incorporation of Section 415
by Reference.  The limitations and other provisions of Code
Section 415 and Treasury regulations promulgated thereunder with respect to
annual benefits payable under the Plan and benefit accruals under the
Plan  are hereby incorporated by reference.

    


    (c)  Required Aggregation of
Defined Benefit Plans.  If the benefits under this Plan must be
aggregated with benefits under another defined benefit plan for the purpose of
complying with Code Section 415, the benefits and benefit accruals of the plan
in which the Participant is most recently participating shall be frozen to the
extent necessary to comply with Code Section 415 on an aggregate
basis.  However, if such other plan is required to freeze benefits and
benefit accruals in accordance with this Section 11.1 but does not permit such
freezing of benefits and/or benefit accruals, then the benefits and benefit
accruals under this Plan shall be frozen to the extent necessary to comply with
Code Section 415.

    


    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (d)  Actuarial Assumptions Used
to Apply Dollar Limit.  For purposes of applying Code Section
415(b)(2)(E), references in that Code section to “the [interest] rate specified
in [or under] the plan” shall be deemed to be references to the Applicable
Interest Rate defined in Section 1.4.

    


    (e)  Section 415(c)(3)
Compensation.  A Participant’s “compensation” taken into
account for purposes of applying Code Section 415 to benefit payments and
benefit accruals under the Plan shall be the Participant’s Code Section 3401(a)
wages within the meaning of Treasury Regulation §1.415(c)-2(d)(3)(Section
3401(a)wages).

    


    (f)  Limitation
Year.  For purposes of applying Code Section 415 to the Plan,
the “limitation year” shall be the Plan Year.

    


    


    IN WITNESS WHEREOF, this instrument of
amendment has been executed by a duly authorize officer of the Corporation this
19th day of December, 2008, to be effective as of the date recited
herein.

    


    


    COLUMBUS McKINNON
CORPORATION

    


    


    By    Richard A.
Steinberg                                 


    


    


    Title: Vice
President