Document:

EX-10.132

 

EXHIBIT 10.132

AMENDMENT NO. 1

TO THE

NACCO MATERIALS HANDLING GROUP, INC.

LONG-TERM INCENTIVE COMPENSATION PLAN

(AS AMENDED AND RESTATED AS OF JANUARY 1, 2006)

     NACCO Materials Handling Group, Inc. (the “Company”), hereby adopts this Amendment No. 1 to
the NACCO Materials Handling Group, Inc. Long-Term Incentive Compensation Plan (As Amended and
Restated as of January 1, 2006) (the “Plan”), effective as of the dates indicated herein. Words
and phrases used herein with initial capital letters that are defined in the Plan are used herein
as so defined.

Section 1

     Effective as of January 1, 2005, Section 9(c) of the Plan is hereby amended in its entirety to
read as follows:

“(c) Deferral Option. A Participant who is a citizen or resident of the United States may
make an irrevocable election to defer receipt of 100% of an Award granted to him for a particular
Award Term. A separate deferral election may be made with respect to each Award granted under the
Plan. Such a deferral election must be made, in writing, on a form approved by the Committee and
(i) will not be valid unless the election is made at least 12 months prior to the Maturity Date of
the Award and (ii) will not be given effect until at least 12 months after the date on which such
election is made. If a valid and timely deferral election is made with respect to an Award, the
payment of such Award will automatically be deferred until the 10th anniversary of the
Grant Date of such Award. Awards that are deferred until the 10th anniversary of the
Grant Date for Participants who are employed on such date shall be paid as soon as practicable
thereafter in the form of a single, lump-sum payment and shall be based on the Book Value as of the
Quarter Date coincident with or immediately preceding such date. Notwithstanding the foregoing, a
Participant who has made a valid deferral election under this Subsection (c) and who dies or incurs
a Termination of Employment due to Disability prior to the 10th anniversary of the Grant
Date shall receive payment for all such deferred Awards as soon as practicable following the date
of such death or Termination of Employment due to Disability, based on the Book Value as of the
Quarter Date coincident with or immediately preceding such date. The following rules shall apply
to a Participant who has made a valid deferral election under this Subsection (c) and who incurs a
Termination of Employment for reasons other than death or Disability (including Retirement) prior
to the 10th anniversary of the Grant Date. Such a Participant may not receive payment
for such deferred Awards until the 10th anniversary of the Grant Date. The value of the
Awards shall be equal to the sum of (1) the Book Value as of the Quarter Date coincident with or
immediately preceding the date of Termination of Employment, plus (2) interest on such amount,
credited at the end of each calendar month, equal to the “10-Year U.S. Treasury Yield” rate plus
2%. For purposes hereof, the 10-Year U.S. Treasury Yield shall be the 10 year yield on U.S.
Treasury issues as listed in the Bond Market Data Bank for the last day of the preceding calendar
quarter as printed in the Wall Street Journal (or as published on the Website for the Wall Street

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Journal). In the event that a yield is not listed for a maturity exactly 10 years from the
calendar quarter end, the next preceding chronological treasury bond issue yield shall be used.”

Section 2

     Effective as of January 1, 2005, Section 9(d) of the Plan is hereby deleted in its entirety.

Section 3

     Effective as of January 1, 2005, Section 11(h) of the Plan is hereby amended by adding the
following new clause (v) to the end thereof, to read as follows:

“(v) Key Employees. Notwithstanding any provision of the Plan to the contrary,
distributions to Key Employees made on account of a Termination of Employment for reasons other
than Disability may not be made before the date that is six months after such Termination of
Employment (or, if earlier, the date of death). Any amount that is otherwise payable to the Key
Employee during the 6-month period following his Termination of Employment shall be accumulated and
paid in a lump sum make-up payment as soon as practicable following the end of such 6-month
period.”

     EXECUTED this 6th day of December, 2006.

	 	 	 	 	 
	 	NACCO MATERIALS HANDLING GROUP, INC.

 	 
	 	By:  	/s/ Charles Bittenbender
 	 
	 	 	Title:  Assistant Secretary 	 
	 	 	 	 
	 

2EX-10.133

 

EXHIBIT 10.133

AMENDMENT NO. 2

TO THE

NACCO MATERIALS HANDLING GROUP, INC.

SENIOR EXECUTIVE LONG-TERM INCENTIVE COMPENSATION PLAN

(AS AMENDED AND RESTATED AS OF JANUARY 1, 2005)

     NACCO Materials Handling Group, Inc. (the “Company”), hereby adopts this Amendment No. 2 to
the frozen NACCO Materials Handling Group, Inc. Senior Executive Long-Term Incentive Compensation
Plan (As Amended and Restated as of January 1, 2005) (the “Plan”), effective as of the dates
indicated herein. Words and phrases used herein with initial capital letters which are defined in
the Plan are used herein as so defined.

Section 1

     Effective as of January 1, 2005, Section 10(c) of the Plan is hereby amended in its entirety
to read as follows:

“(c) Deferral Option. A Participant who is a citizen or resident of the United States may
make an irrevocable election to defer receipt of 100% of a Post-2004 Award granted to him for a
particular Award Term. A separate deferral election may be made with respect to each post-2004
Award granted under the Plan. Such a deferral election must be made, in writing, on a form
approved by the Committee and (i) will not be valid unless the election is made at least 12 months
prior to the Maturity Date of the Award and (ii) will not be given effect until at least 12 months
after the date on which such election is made. If a valid and timely deferral election is made
with respect to a Post-2004 Award, the payment of such Award will automatically be deferred until
the 10th anniversary of the Grant Date of such Award. Awards that are deferred until
the 10th anniversary of the Grant Date for Participants who are employed on such date
shall be paid as soon as practicable thereafter in the form of a single, lump-sum payment and shall
be based on the Book Value as of the Quarter Date coincident with or immediately preceding such
date. Notwithstanding the foregoing, a Participant who has made a valid deferral election under
this Subsection (c) and who dies or incurs a Termination of Employment due to Disability prior to
the 10th anniversary of the Grant Date shall receive payment for all such deferred
Awards as soon as practicable following the date of such death or Termination of Employment due to
Disability, based on the Book Value as of the Quarter Date coincident with or immediately preceding
such date. The following rules shall apply to a Participant who has made a valid deferral election
under this Subsection (c) and who incurs a Termination of Employment for reasons other than death
or Disability (including Retirement) prior to the 10th anniversary of the Grant Date.
Such a Participant may not receive payment for such deferred Awards until the 10th
anniversary of the Grant Date. The value of the Awards shall be equal to the sum of (1) the Book
Value as of the Quarter Date coincident with or immediately preceding the date of Termination of
Employment, plus (2) interest on such amount, credited at the end of each calendar month, equal to
the “10-Year U.S. Treasury Yield” rate plus 2%. For purposes hereof, the 10-Year U.S. Treasury
Yield shall be the 10 year yield on U.S. Treasury issues as listed in the Bond Market Data Bank for
the last day of the preceding calendar quarter as printed in the Wall Street Journal (or as
published on the Website for the Wall Street Journal). In the event

1

 

that a yield is not listed for a maturity exactly 10 years from the calendar quarter end, the next
preceding chronological treasury bond issue yield shall be used.”

Section 2

     Effective as of January 1, 2005, Subsection (d) of Section 10 of the Plan is hereby deleted in
its entirety and replaced with the following new Subsection (d), to read as follows:

     “(d) Key Employees. Notwithstanding any provision of the Plan to the
contrary, distributions of Post-2004 Awards to Key Employees made on account of a Termination of
Employment for reasons other than Disability may not be made before the date that is six months
after such Termination of Employment (or, if earlier, the date of death). Any amount that is
otherwise payable to the Key Employee during the 6-month period following his Termination of
Employment shall be accumulated and paid in a lump sum make-up payment as soon as practicable
following the end of such 6-month period.”

     EXECUTED this 6th day of December, 2006.

	 	 	 	 	 
	 	NACCO MATERIALS HANDLING GROUP, INC.

 	 
	 	By:  	/s/ Charles Bittenbender
 	 
	 	 	Title:  Assistant Secretary 	 
	 	 	 	 
	 

2EX-10.134

 

EXHIBIT 10.134

AMENDMENT NO. 1

TO THE

NACCO MATERIALS HANDLING GROUP, INC.

UNFUNDED BENEFIT PLAN

(AS AMENDED AND RESTATED AS OF JANUARY 1, 2005)

     NACCO Materials Handling Group, Inc. hereby adopts this Amendment No. 1 to the NACCO Materials
Handling Group, Inc. Unfunded Benefit Plan (As Amended and Restated as of January 1, 2005),
effective as of January 1, 2006. Words and phrases used herein with initial capital letters that
are defined in the Plan are used herein as so defined.

Section 1

     The first sentence of Section 5.1(a) of the Plan is hereby amended in its entirety to read as
follows:

     “Subject to Subsection (b) and Section 5.4, at the end of each calendar month during a Plan
Year, the Excess Profit Sharing Sub-Account, Basic Excess Deferral Sub-Account, Basic Excess 401(k)
Sub-Account and Basic Excess Matching Sub-Account of each Participant shall be credited with an
amount determined by multiplying such Participant’s average Sub-Account balance during such month
by the blended rate earned during the prior month by the Fixed Income Fund.”

Section 2

     The first sentence of Section 5.2(a) of the Plan is hereby amended in its entirety to read as
follows:

     “Subject to Section 5.4, at the end of each calendar month during a Plan Year, the Additional
Excess Deferral Sub-Account, Additional Excess 401(k) Sub-Account and Yale Short-Term Deferral
Sub-Account of each Participant shall be credited with an amount determined by multiplying such
Participant’s average Sub-Account balance during such month by the blended rate earned during the
prior month by the Fixed Income Fund.”

          EXECUTED this 6th day of December, 2006.

	 	 	 	 	 
	 	NACCO MATERIALS HANDLING

GROUP, INC.

 	 
	 	By:  	/s/ Charles Bittenbender
 	 
	 	 	Title:  Assistant Secretary 	 
	 	 	 	 
	 

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