Document:

Exhibit 10.1(bs)

 

AMENDMENT NUMBER TWO

TO

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 WITNESS WHEREOF, the attached Appendix D is hereby
added 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, executed this 8th day of
February, 2002, to be effective as of January 1, 2002.

 

	
  SAUER DANFOSS COMPANY

  	
   

  	
  UAW, Local Union No. 285

  
	
   

  	
   

  	
   

  
	
  /s/ MATTHEW K. BENDLER

  	
   

  	
  /s/ WILLIAM C. FALASSI

  
	
   

  	
   

  	
   

  
	
  /s/ SUZANNE R. SOBKOWIAK

  	
   

  	
  /s/  PATRICIO
  ESCATEL

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 

 

 

APPENDIX D

 

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

 

 

Application of the Economic Growth and Tax Relief 

Reconciliation Act of 2001

 

 

This Appendix D is intended to demonstrate good faith compliance with
the requirements of the Economic Growth and Tax Relief Reconciliation Act of
2001 (“EGTRRA”) and is to be construed in accordance with EGTRRA and the
guidance issued thereunder.  The provisions
of this Appendix D shall supersede the applicable provisions of the Plan to the
extent those provisions are inconsistent with the provisions of this
Supplement.

 

1.             Effective
Date.  Except as
otherwise provided, this amendment shall be effective as of the first day of
the first Plan Year beginning after December 31, 2001.

 

2.             Limits
on Annual Benefits.  Effective for
“limitation years” ending after December 31, 2001 and consistent with the
provisions of Article XI of the Plan, Plan shall be subject to the applicable
provisions of Code Section 415 (b) as amended by EGTRRA.

 

3.             Rollover
Rules - Direct Rollovers of Plan Distributions.  Effective for Plan distributions made after
December 31, 2001, the provisions of Code Section 402(c) that are incorporated
under Section 9.7 of the Plan are modified to provide that an “eligible
retirement plan” shall also mean an annuity contract described in Code Section
403(b) or an eligible plan under Code Section 457(b) that is maintained by a
state, political subdivision of a state, or any agency or instrumentality of a
state or political subdivision of a state and that agrees to separately account
for amounts transferred into such plan from this Plan.  Notwithstanding subsection 9.7(b) of the
Plan, the definition of “eligible retirement plan” shall also apply in the case
of a distribution to a Spouse or a former spouse who is the alternate payee
under a qualified domestic relation order, as defined in Code Section 414(p).Exhibit 10.1(bt)

 

AMENDMENT NUMBER THREE

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 (previously
known as Sauer-Sundstrand Company) (the “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 Plan was submitted on February 20,
2002 to the Internal Revenue Service (“IRS”) for purposes of securing a
favorable determination letter with respect to the Plan; and

 

WHEREAS, the IRS has requested an amendment to
the Plan in connection with the issuance of a favorable determination letter
with respect to the Plan’s qualified status under Section 401(a) of the
Internal Revenue Code; 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, effective January 1, 2000, by inserting the
following new paragraph (c) to Section 1.2 of the Plan as a part thereof:

 

“Notwithstanding the last paragraph of paragraph (a)
immediately above and the last paragraph of paragraph (b) immediately above,
for the period beginning January 1, 2000 and ending April 3, 2003, a lump sum
distribution under the Plan shall equal the lump sum distribution, as
determined under the actuarial assumptions provided for in paragraphs (a) and
(b) immediately above or as determined under the terms of the Plan prior to
January 1, 2000, whichever results in the greater present value benefit to the
Participant.

 

IN WITNESS WHEREOF, the Company has authorized the
execution on its behalf of this Amendment Number Three this 3rd day of April,
2003.

 

	
  Sauer-Danfoss
  (U.S.) Company

  	
   

  	
  UAW, Local Union No. 285

  
	
  /s/ MATTHEW K. BENDLER

  	
   

  	
  /s/ WILLIAM C. FALASSI

  
	
   

  	
   

  	
   

  
	
  /s/ SUZANNE SOBKOWIAK

  	
   

  	
  /s/ PATRICIO ESCATELExhibit 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:

2

 

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

  	
   

  

 

 

5

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