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                                                                 EXHIBIT 10(xiv)

                             NACCO INDUSTRIES, INC.
                 SUPPLEMENTAL ANNUAL INCENTIVE COMPENSATION PLAN

1.       PURPOSE OF THE PLAN

         The purpose of the NACCO Industries, Inc. Supplemental Annual Incentive
Compensation Plan (the "Plan") is to further the profits and growth of NACCO
Industries, Inc. (the "Company") by enabling the Company to attract and retain
key employees of the Company by offering annual incentive compensation to those
key employees who will be in a position to help the Company to meet its
financial and business objectives.

2.       DEFINITIONS

         (a) "Award" means cash paid to a Participant under this Plan for any
year in an amount determined in a manner not inconsistent with the terms hereof.

         (b) "Committee" means the Nominating, Organization and Compensation
Committee of the Company's Board of Directors or any other committee appointed
by the Company's Board of Directors to administer this Plan in accordance with
Section 3, so long as any such committee consists of not less than two directors
of the Company and so long as each member of the Committee is not an employee of
the Company or any of its subsidiaries.

         (c) "Participant" means any salaried employee of the Company who in the
judgment of the Committee occupies a key position in which his efforts may
significantly contribute to the profits or growth of the Company. Employees of
the Company's subsidiaries shall not be eligible to participate in this Plan.

         (d) "Section 162(m)" means Section 162(m) of the Internal Revenue Code
of 1986, as amended, or any successor provision.

         (e) "Target Award" means a dollar amount equal to the amount of cash to
be paid to a Participant under the Plan assuming that all performance targets
are met. The Target Award, together with the target amounts for the Participant
under the Company's other incentive compensation plans, shall be in an amount
which is competitive with similar target awards at other similarly situated
companies.

3.       ADMINISTRATION

         This Plan shall be administered by the Committee. The Committee shall
have complete authority to interpret all provisions of this Plan consistent with
law, to prescribe the form of any instrument evidencing any Target Award or
Award under this Plan, to adopt, amend and rescind general and special rules and
regulations for its administration, and to make all other determinations
necessary or advisable for the administration of this Plan; provided, however,
that no such action may be taken by the Committee which would cause any amounts
to be paid to a Participant who is, or is determined by the Committee to be
likely to become, a "covered employee" to be includable as "applicable employee
remuneration" of such Participant, as such terms are defined in Section 162(m).
A majority of the Committee shall constitute a quorum, and the action of members
of the Committee present at any meeting at which a quorum is present, or acts
unanimously approved in writing, shall be the act of the Committee. All acts and
decisions of the Committee with respect to any questions arising in connection
with the administration and interpretation of this Plan, including the
severability of any or all of the provisions hereof, shall be conclusive, final
and binding upon the Company and all present and former Participants, all other
employees of the Company, and their respective descendants, successors and
assigns. No member of the Committee shall be liable for any such act or decision
made in good faith.

4.       ELIGIBILITY

         Each Participant, including directors of the Company who are also
salaried employees of the Company, shall be eligible to participate in this Plan
and receive Awards in accordance with Section 5.

5.       AWARDS

         The Committee may, from time to time and upon such conditions as it may
determine, authorize the payment of Awards to Participants, which shall be not
inconsistent with, and shall be subject to all of the requirements of, the
following provisions:

         (a) Not later than the ninetieth day of each calendar year, the
Committee shall approve (i) a Target Award to be granted to each Participant and
(ii) one or more performance targets and formulas for determining the amount

<PAGE>

of each Award. Performance targets shall be based upon the return on total
capital employed, return on equity, return on tangible assets employed, economic
value income, net income, market share, sales development or support costs of
the Company and/or its subsidiaries; provided, however, that performance targets
which are used in the Plan will not be used in the Company's Annual Incentive
Compensation Plan in the same year.

         (b) Not later than the ninetieth day of the following calendar year,
the Committee shall approve:

              (i) a preliminary calculation of the amount of each Award based
upon the application of the formulas and actual performance to the Target Awards
previously determined in accordance with Section 5(a); and

              (ii) a final calculation of the amount of each Award to be paid to
each Participant for the prior year, which amount shall be not greater than the
amount determined in accordance with Section 5(b)(i). The Committee shall have
the power to decrease, but not to increase, the amount of any Award below the
amount determined in accordance with Section 5(b)(i); provided, however, that no
Award, including any Award equal to the Target Award, shall be payable under the
Plan to any Participant except as determined by the Committee.

         (c) Promptly following the determination of Awards for the Participants
pursuant to Section 5(b)(ii), the Company shall pay the amount of such Awards to
the Participants in cash, subject to all withholdings and deductions pursuant to
Section 6.

         (d) No Award may be paid for any year to a Participant in excess of
$800,000.

6.       WITHHOLDING TAXES

         Any Award paid to a Participant under this Plan shall be subject to
standard federal, state and local income tax, social security and other standard
withholdings and deductions.

7.       AMENDMENT AND TERMINATION

         The Committee may alter or amend this Plan from time to time or
terminate it in its entirety; provided, however, that no such action shall,
without the consent of a Participant, affect the rights in an outstanding Award
of such Participant; and further provided, however, that no amendment may be
made which would cause any amount paid to a Participant who is, or is determined
by the Committee to be likely to become, a "covered employee" to be includable
as "applicable employee remuneration" of such Participant, as such terms are
defined in Section 162(m).

8.       GENERAL PROVISIONS

         (a) No Right of Employment. Neither the adoption or operation of this
Plan, nor any document describing or referring to this Plan, or any part
thereof, shall confer upon any employee any right to continue in the employ of
the Company, or shall in any way affect the right and power of the Company to
terminate the employment of any employee at any time with or without assigning a
reason therefor to the same extent as the Company might have done if this Plan
had not been adopted.

         (b) Governing Law. The provisions of this Plan shall be governed by and
construed in accordance with the laws of the State of Delaware.

         (c) Miscellaneous. Headings are given to the sections of this Plan
solely as a convenience to facilitate reference. Such headings, numbering and
paragraphing shall not in any case be deemed in any way material or relevant to
the construction of this Plan or any provisions thereof. The use of the
masculine gender shall also include within its meaning the feminine. The use of
the singular shall also include within its meaning the plural, and vice versa.

9.       APPROVAL BY STOCKHOLDERS

         The Plan shall be submitted for approval by the stockholders of the
Company. If such approval has not been obtained by June 1, 2001, this Plan shall
be nullified and all grants of Target Awards shall be rescinded.

10.      EFFECTIVE DATE

         Subject to its approval by the stockholders of the Company, this Plan
shall become effective as of January 1, 2001.<PAGE>
                                                                  EXHIBIT 10(xv)

                             NACCO INDUSTRIES, INC.
                 EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN

1.       PURPOSE OF THE PLAN

         The purpose of this Executive Long-Term Incentive Compensation Plan
(the "Plan") is to further the long-term profits and growth of NACCO Industries,
Inc. (the "Company") by enabling the Company to attract and retain key executive
employees of the Company by offering long-term incentive compensation to those
key executive employees who will be in a position to make significant
contributions to such profits and growth. This incentive is in addition to
annual compensation and is intended to encourage enhancement of the Company's
stockholder value.

2.       DEFINITIONS

         (a) "Average Award Share Price" means the average of the closing price
per share of Class A Common Stock on the New York Stock Exchange on the Friday
(or if Friday is not a trading day, the last trading day before such Friday) for
each week of the relevant period.

         (b) "Award" means an award paid to a Participant under this Plan for
any period of one or more years in an amount determined pursuant to a formula
which is established by the Committee not later than the 90th calendar day of
the performance period on which the Award is based. The Committee shall allocate
the amount of an Award between the cash component, to be paid in cash, and the
equity component, to be paid in Award Shares.

         (c) "Award Shares" means shares of Class A Common Stock which are
issued pursuant to, and with such restrictions as are imposed by, the terms of
this Plan. Such shares may be shares of original issuance or treasury shares or
a combination of the foregoing.

         (d) "Class A Common Stock" means the Company's Class A Common Stock,
par value $1.00 per share.

         (e) "Committee" means the Nominating, Organization and Compensation
Committee of the Company's Board of Directors or any other committee appointed
by the Company's Board of Directors to administer this Plan in accordance with
Section 3, so long as any such committee consists of not less than two directors
of the Company and so long as each member of the Committee (i) is not an
employee of the Company or any of its subsidiaries and (ii) is a "disinterested
person" within the meaning of Rule 16b-3.

         (f) "Participant" means any salaried employee of the Company who in the
judgment of the Committee occupies a key executive position in which his efforts
may significantly contribute to the profits or growth of the Company. Employees
of the Company's subsidiaries shall not be eligible to participate in this Plan.

         (g) "Rule 16b-3" means Rule 16b-3 promulgated under the Securities
Exchange Act of 1934 (or any successor rule to the same effect), as in effect
from time to time.

         (h) "Section 162(m)" means Section 162(m) of the Internal Revenue Code
of 1986, as amended, or any successor provision.

         (i) "Target Award" means a dollar amount equal to the award to be paid
to a Participant under the Plan assuming that the performance targets are met.

3.       ADMINISTRATION

         This Plan shall be administered by the Committee. The Committee shall
have complete authority to interpret all provisions of this Plan consistent with
law, to prescribe the form of any instrument evidencing any Award granted under
this Plan, to adopt, amend and rescind general and special rules and regulations
for its administration, and to make all other determinations necessary or
advisable for the administration of this Plan; provided, however, that no such
action may be taken by the Committee which would cause any Awards to be made to
a Participant who is, or is determined by the Committee to be likely to become,
a "covered employee" to be includable as "applicable employee remuneration" of
such Participant, as such terms are defined in Section 162(m). A majority of the
Committee shall constitute a quorum, and the action of members of the Committee
present at any meeting at which a quorum is present, or acts unanimously
approved in writing, shall be the act of the Committee. All acts and decisions
of the Committee with respect to any questions arising in connection with the
administration and interpretation of this Plan, including the severability of
any or all of the provisions hereof, shall be conclusive, final and binding upon
the Company and all present and former Participants, all other employees of the
Company, and their respective descendants, successors and assigns. No member of
the Committee shall be liable for any such act or decision made in good faith.

<PAGE>

4.       ELIGIBILITY

         Each Participant, including directors of the Company who are also
salaried employees of the Company, shall be eligible to participate in this Plan
and receive Awards in accordance with Section 5.

5.       AWARDS

         The Committee may, from time to time and upon such conditions as it may
determine, authorize the payment of Awards to Participants, which shall be not
inconsistent with, and shall be subject to all of the requirements of, the
following provisions:

         (a) Not later than the ninetieth day of each calendar year, the
Committee shall approve (i) a Target Award to be granted to each Participant and
(ii) a formula for determining the amount of each Award, which formula is based
upon the Company's average return on equity or return on total capital employed
for years covered by the performance period. Each grant shall specify the
allocation between the cash portion of the Award and the equity portion of the
Award.

         (b) Not later than the ninetieth day of the following calendar year,
the Committee shall approve:

              (i) a preliminary calculation of the amount of each Award based
upon the application of the formula and actual performance to the Target Awards
previously determined in accordance with Section 5(a); and

              (ii) a final calculation of the amount of each Award to be paid to
each Participant for the prior year, which amount shall be not greater than the
amount determined in accordance with Section 5(b)(i). The Committee shall have
the power to decrease, but not to increase, the amount of any Award below the
amount determined in accordance with Section 5(b)(i), provided, however, no
Award, including any Award equal to the Target Award, shall be payable under the
Plan to any Participant except as determined by the Committee.

         (c) Each Award shall be paid partly in cash and partly in Award Shares.
The number of Award Shares to be issued to a Participant shall be based upon the
number of shares of Class A Common Stock which can be purchased with the equity
portion of the Award at the Average Award Share Price. Awards shall be paid
subject to all withholdings and deductions pursuant to Section 6.
Notwithstanding any other provision of the Plan, the maximum amount paid to a
Participant in a single year as a result of Awards under this Plan shall not
exceed $2,250,000.

         (d) Award Shares shall entitle such Participant to voting, dividend and
other ownership rights. Each Award shall provide that the transferability of the
Award Shares shall be prohibited or restricted in the manner and to the extent
prescribed by the Committee at the date of payment for a period of ten years, or
such other shorter or longer period as may be determined by the Committee from
time to time.

         (e) Each payment of Award Shares shall be evidenced by an agreement
executed on behalf of the Company by an executive officer and delivered to and
accepted by such Participant; each such agreement shall contain such terms and
provisions, consistent with this Plan, as the Committee may approve, including,
without limitation, prohibitions and restrictions regarding the transferability
of Award Shares (other than a transfer (i) by will or the laws of descent and
distribution, (ii) pursuant to a domestic relations order meeting the definition
of a qualified domestic relations order under Section 206(d)(3)(B) of the
Employee Retirement Income Security Act of 1974, as amended, or (iii) to a trust
for the benefit of a Participant or his spouse, children or grandchildren,
provided that Award Shares transferred to such a trust shall continue to be
Award Shares subject to this Plan).

         (f) Multiple Awards may be granted to a Participant; provided, however,
that no two Awards to a Participant may have identical performance periods.

6.       WITHHOLDING TAXES

         To the extent that the Company is required to withhold federal, state
or local taxes in connection with any Award paid to a Participant under this
Plan, and the amounts available to the Company for such withholding are
insufficient, it shall be a condition to the receipt of such Award that the
Participant make arrangements satisfactory to the Company for the payment of the
balance of such taxes required to be withheld, which arrangements (in the
discretion of the Committee) may include relinquishment of a portion of such
Award. The Company and a Participant may also make similar arrangements with
respect to the payment of any other taxes derived from or related to the Award
with respect to which withholding is not required.

<PAGE>

7.       AMENDMENT, TERMINATION AND ADJUSTMENTS

         The Committee may alter or amend this Plan from time to time or
terminate it in its entirety; provided, however, that no such action shall,
without the consent of a Participant, affect the rights in an outstanding Award
or any Award Shares of such Participant; and further provided, however, that,
without further approval by the stockholders of the Company, no such action
shall (i) increase the maximum number of Award Shares to be issued under this
Plan specified in Section 8 (except that adjustments and additions expressly
authorized by this Section 7 shall not be limited by this clause (i)), (ii)
cause Rule 16b-3 to become inapplicable to this Plan or (iii) cause any amount
of an Award to a Participant who is, or is determined by the Committee to be
likely to become, a "covered employee" to be includable as "applicable employee
remuneration" of such Participant, as such terms are defined in Section 162(m).
The Committee may make or provide for such adjustment in the total number of
Award Shares to be issued under this Plan specified in Section 8 as the
Committee in its sole discretion, exercised in good faith, may determine is
equitably required to reflect (a) any stock dividend, stock split, combination
of shares, recapitalization or any other change in the capital structure of the
Company, (b) any merger, consolidation, spin-off, split-off, spin-out, split-up,
reorganization, partial or complete liquidation or other distribution of assets,
issuance of rights or warrants to purchase securities, or (c) any other
corporate transaction or event having an effect similar to any of the foregoing.
All Target Awards and Awards granted prior to any termination of this Plan shall
continue to be subject to the terms of this Plan. In the case of termination of
employment by reason of death, permanent disability or retirement pursuant to
the terms of the qualified pension plan applicable to the Participant, or in the
case of other special circumstances, of a Participant who holds Award Shares as
to which the prohibition or restriction on transfer has not lapsed, or in case
of a termination of the Plan pursuant to this Section 7, the Committee may, in
its sole discretion, accelerate the time at which such prohibition or
restriction on transfer will lapse.

8.       AWARD SHARES SUBJECT TO PLAN

         Subject to adjustment as provided in this Plan, the total number of
shares of Class A Common Stock which may be issued as Award Shares under this
Plan shall be 300,000.

9.       APPROVAL BY STOCKHOLDERS

         The Plan shall be submitted for approval by the stockholders of the
Company. If such approval has not been obtained by June 1, 2001, all grants of
Target Awards made on or after January 1, 2001, shall be rescinded.

10.      GENERAL PROVISIONS

         (a) No Right of Employment. Neither the adoption or operation of this
Plan, nor any document describing or referring to this Plan, or any part
thereof, shall confer upon any employee any right to continue in the employ of
the Company, or shall in any way affect the right and power of the Company to
terminate the employment of any employee at any time with or without assigning a
reason therefor to the same extent as the Company might have done if this Plan
had not been adopted.

         (b) Governing Law. The provisions of this Plan shall be governed by and
construed in accordance with the laws of the State of Delaware.

         (c) Miscellaneous. Headings are given to the sections of this Plan
solely as a convenience to facilitate reference. Such headings, numbering and
paragraphing shall not in any case be deemed in any way material or relevant to
the construction of this Plan or any provisions thereof. The use of the
masculine gender shall also include within its meaning the feminine. The use of
the singular shall also include within its meaning the plural, and vice versa.

11.      EFFECTIVE DATE

         Subject to its approval by the stockholders of the Company, this Plan
shall become effective as of January 1, 2001.

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