Document:

EXHIBIT 10.16(c)
                                                     FORM 10-K
                                  YEAR ENDED DECEMBER 31, 2002

                         GMAC BUSINESS CREDIT, LLC
                       461 Fifth Avenue, 21st Floor
                         New York, New York 10017

                              as of December 31, 2002

Bucyrus International, Inc., as Borrowing Agent
1100 Milwaukee Avenue
Milwaukee, Wisconsin 53172

                 Re:  2002 Capital Expenditure Requirement

Gentlemen:

     Reference is hereby made to (a) the Loan and Security Agreement (as
amended, restated, modified and/or supplemented from time to time, the "Loan
Agreement") dated as of March 7, 2002 among Bucyrus International, Inc.
("Bucyrus") and the other borrowers and Guarantors named therein (each a "Loan
Party" and collectively "Loan Parties"), GMAC Business Credit, LLC ("GMACBC"),
various other financial institutions named therein or which hereafter become a
party thereto (together with GMACBC, collectively, the "Lenders"), GMACBC as
agent for the Lenders (in such capacity, "Agent") and Bank One, Wisconsin, as
syndication agent and (b) Amendment No. 2 to the Loan Agreement dated as of
January 9, 2003 ("Amendment No. 2") among the Loan Parties, the Lenders and
Agent.  All capitalized terms not otherwise defined herein shall have the
collective meanings ascribed thereto in the Loan Agreement.

     Section 7.6 of the Loan Agreement, both as originally appears in the
Loan Agreement and as appears in Amendment No. 2, sets forth the sum of
$4,800,000 as the maximum permissible amount of Capital Expenditures which may
be contracted for, purchased or made for the four fiscal quarters ending
December 31, 2002.  The parties hereto, constituting the Loan Parties, Agent,
100% of the Lenders as of the date of Amendment No. 2 and Required Lenders as
of December 31, 2002, acknowledge and agree that the maximum permissible
amount of Capital Expenditures for the four quarters ending December 31, 2002
is $5,500,000 and, for all purposes, Section 7.6 should be deemed amended to
read $5,500,000 next to the date December 31, 2002 in lieu of $4,800,000.  In
all other respects the Loan Agreement remains in full force and effect as
modified by Amendment No. 2.

     This letter shall be governed by and construed in accordance with the
law of the State of New York.

     This letter may be executed in any number of counterparts and by
different parties hereto on separate counterparts, each of which counterparts,
when executed and delivered, shall be deemed an original and all of which
counterparts, taken together, shall constitute one and the same instrument.

     Any signature delivered by a party by facsimile transmission shall be
deemed to be an original signature hereto.

                              Very truly yours,

                              GMAC BUSINESS CREDIT, LLC, as a Lender
                              and as Agent

                              By: /s/Joseph Skaferowsky
                                   Name:  Joseph Skaferowsky
                                   Title: Director

                              BANK ONE, WISCONSIN

                              By: /s/Mark Bruss
                                   Name:  Mark Bruss
                                   Title:  First Vice President

                              MARINE BANK

                              By: /s/William E. Shaw
                                   Name:  William E. Shaw
                                   Title: Sr VP

                              LASALLE BANK NATIONAL ASSOCIATION

                              By: /s/Dusko Marinovic
                                   Name:  Dusko Marinovic
                                   Title: Vice President

ACCEPTED AND AGREED:

BUCYRUS INTERNATIONAL, INC.

By:/s/J. F. Bosbous
     Name:  J. F. Bosbous
     Title:     Treasurer

MINSERCO, INC.

By:/s/C. R. Mackus
     Name:   C. R. Mackus
     Title:  Vice President

BOONVILLE MINING SERVICES, INC.

By:/s/C. R. Mackus
     Name:   C. R. Mackus
     Title:  Vice President

BUCYRUS CANADA, LTD.

By:/s/C. R. Mackus
     Name:   C. R. Mackus
     Title:  Vice President

BUCYRUS HOLDINGS, L.L.C.

By: /s/W. Richard Bingham
     Name:  W. Richard Bingham
     Title: PresidentEXHIBIT 10.17
                                                     FORM 10-K
                                  YEAR ENDED DECEMBER 31, 2002

                    ACTION BY UNANIMOUS WRITTEN CONSENT

                       OF THE BOARD OF DIRECTORS OF

                        BUCYRUS INTERNATIONAL, INC.

          The undersigned, being all the directors of Bucyrus International,
Inc., a Delaware corporation (the "Corporation") hereby adopt by this written
consent, in accordance with Section 141(f) of the General Corporation Law of
the State of Delaware, the following resolutions, with the same force and
effect as if adopted by a unanimous vote at duly convened meeting of the Board
of Directors of the Corporation:

By-law Amendment with Respect to Indemnification.

          RESOLVED, that the Corporation hereby amends its By-Laws to add an
     Article X to the By-Laws which shall read in its entirety as follows:

                                 ARTICLE X

                              INDEMNIFICATION

        Section 10.1.  Indemnification and Insurance.  (A) Each person who
     was or is made a party or is threatened to be made a party to or is
     otherwise involved in any action, suit or proceeding, whether civil,
     criminal, administrative or investigative (hereinafter a "proceeding"),
     by reason of the fact that he or she or a person of whom he or she is
     the legal representative is or was a director or officer of the
     Corporation or is or was serving at the request of the Corporation as a
     director, officer, employee or agent of any other corporation or of a
     partnership, joint venture, trust or other enterprise, including service
     with respect to any employee benefit plan (hereinafter an "indemnitee"),
     whether the basis of such proceeding is alleged action in an official
     capacity as a director, officer, employee or agent or in any other
     capacity while serving as a director, officer, employee or agent, shall
     be indemnified and held harmless by the Corporation to the fullest
     extent authorized by the Delaware General Corporations Law (the "GCL")
     as the same exists or may hereafter be amended (but, in the case of any
     such amendment, only to the extent that such amendment permits the
     Corporation to provide broader indemnification rights than said law
     permitted the Corporation to provide prior to such amendment), against
     all expense, liability and loss (including, without limitation,
     attorneys' fees, judgments, fines, excise taxes or penalties under the
     Employee Retirement Income Security Act of 1974, as amended, and amounts
     paid or to be paid in settlement) reasonably incurred by such indemnitee
     in connection therewith; provided, however, that, except as provided in
     paragraph (C) of this By-law with respect to proceedings seeking to
     enforce rights to indemnification, the Corporation shall indemnify any
     such indemnitee seeking indemnification in connection with a proceeding
     (or part thereof) initiated by such indemnitee only if such proceeding
     (or part thereof) was authorized by the Board of Directors.

        (B)  The right to indemnification conferred in paragraph (A) of this
     By-law shall include the right to be paid by the Corporation the
     expenses (including attorneys' fees) incurred in defending any such
     proceeding in advance of its final disposition (hereinafter an
     "advancement of expenses"); provided, however, that, if the GCL
     requires, an advancement of expenses incurred by an indemnitee in his or
     her capacity as a director or officer (and not in any other capacity in
     which service was or is rendered by such indemnitee, including, without
     limitation, service to an employee benefit plan) shall be made only upon
     delivery to the Corporation of an undertaking (hereinafter an
     "undertaking"), by or on behalf of such indemnitee, to repay all amounts
     so advanced if it shall ultimately be determined by final judicial
     decision from which there is no further right to appeal (hereinafter a
     "final adjudication") that such indemnitee is not entitled to be
     indemnified for such expenses under this paragraph (B) or otherwise.

        (C)  If a claim under paragraphs (A) or (B) of this By-law is not
     paid in full by the Corporation within thirty days after a written claim
     has been received by the Corporation, except in the case of a claim for
     an advancement of expenses, in which case the applicable period shall be
     twenty days, the indemnitee may at any time thereafter bring suit
     against the Corporation to recover the unpaid amount of the claim.  If
     successful in whole or in part in any such suit, the indemnitee shall be
     entitled to be paid also the expense of prosecuting or defending such
     suit.  In (i) any suit brought by the indemnitee to enforce a right to
     indemnification hereunder (but not in a suit brought by the indemnitee
     to enforce a right of an advancement of expenses) it shall be a defense
     that, and (ii) in any suit brought by the Corporation to recover an
     advancement of expenses pursuant to the terms of an undertaking, the
     Corporation shall be entitled to recover such expenses upon a final
     adjudication that, the indemnitee has not met any applicable standard
     for indemnification set forth in the GCL.  Neither the failure of the
     Corporation (including its Board of Directors, independent legal counsel
     or stockholders) to have made a determination prior to the commencement
     of such action that indemnification of the indemnitee is proper in the
     circumstances because the indemnitee has met the applicable standard of
     conduct set forth in the GCL, nor an actual determination by the
     Corporation (including its Board of Directors, independent legal counsel
     or stockholders) that the indemnitee has not met such applicable
     standard of conduct, shall create a presumption that the indemnitee has
     not met the applicable standard of conduct or, in the case of such a
     suit brought by the indemnitee, be a defense to such suit.  In any suit
     brought by the indemnitee to enforce a right to indemnification or to an
     advancement of expenses hereunder, or brought by the Corporation to
     recover an advancement of expenses pursuant to the terms of an
     undertaking, the burden of proving that the indemnitee is not entitled
     to be indemnified, or to such advancement of expenses, under this By-law
     or otherwise shall be on the Corporation.

        (D)  The right to indemnification and the advancement of expenses
     conferred in this By-law shall not be exclusive of any other right which
     any person may have or hereafter acquire under any statute, provision of
     the Certificate of Incorporation, provision of these By-laws, agreement,
     vote of stockholders or disinterested directors or otherwise.

        (E)  The Corporation may maintain insurance, at its expense, to
     protect itself and any director, officer, employee or agent of the
     Corporation or another corporation, partnership, joint venture, trust or
     other enterprise against any expense, liability or loss, whether or not
     the Corporation would have the power to indemnify such person against
     such expense, liability or loss under the GCL.

        (F)  The Corporation may, to the extent authorized from time to time
     by the Board of Directors, grant rights to indemnification, and rights
     to the advancement of expenses, to any employee or agent of the
     Corporation to the fullest extent of the provisions of this By-law with
     respect to the indemnification and advancement of expenses of directors
     and officers of the Corporation.

        (G)  The rights to indemnification and to the advancement of expenses
     conferred in paragraphs (A) and (B) of this By-law shall be contract
     rights and such rights shall continue as to an indemnitee who has ceased
     to be a director, officer, employee or agent and shall inure to the
     benefit of the indemnitee's heirs, executors and administrators.

Increase of Shares of Common Stock Reserved for Issuance upon the Exercise of
Options.

          RESOLVED, that the Corporation hereby increases the number of
     shares of its Common Stock reserved for issuance upon the exercise of
     options to purchase Common Stock of the Corporation from 150,400 to
     200,000 effective as of the date hereof.

               Increase in the Number of Authorized Shares.

          FURTHER RESOLVED, that the Company's Restated Certificate of
Incorporation shall be amended by striking out the existing Section (1) of
Article FOURTH in its entirety, and substituting in lieu thereof the
following:

               FOURTH:   (1)  The total number of shares of stock which
          the Corporation shall have authority to issue is One Million Seven
          Hundred Thousand (1,700,000) shares of Common Stock, par value
          $0.01 per share.

          FURTHER RESOLVED, that the proper officers of the Company be, and
each of them hereby is, authorized and directed, in the name and on behalf of
the Company, to execute and file a Certificate of Amendment of Restated
Certificate of Incorporation with the Secretary of State of the State of
Delaware and to take any and all other actions deemed necessary or appropriate
to effect this resolution; and

          FURTHER RESOLVED, that the officers and the Company be, and they
hereby are, authorized and directed to take or cause to be taken all such
further actions, to execute and deliver or cause to be executed and delivered
all such further instruments and documents in the name and on behalf of the
Company and to incur all such fees and expenses as in their judgment shall be
necessary or advisable in order to carry out fully the intent and purposes of
the foregoing resolutions and each of them; and

          FURTHER RESOLVED, that all actions heretofore taken by any officer
of the Company in connection with the transactions contemplated by the
foregoing resolutions be, and they hereby are, approved, ratified and
confirmed in all respects.

          IN WITNESS WHEREOF, the undersigned have executed this Action by
Written Consent as of the 16th day of December, 1998.

                                   /s/W. Richard Bingham
                                   W. Richard Bingham

                                   /s/W. R. Hildebrand
                                   Willard R. Hildebrand

                                   /s/Kim A. Marvin
                                   Kim A. Marvin

                                   /s/Robert L. Purdum
                                   Robert L. Purdum

                                   /s/T. C. Rogers
                                   Theodore C. Rogers

                                   /s/Lawrence W. Ward Jr.
                                   Lawrence W. Ward, Jr.

                                   /s/Stephen R. Light
                                   Stephen R. Light

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