Document:

EX-10.70

 Exhibit 10.70 
 HYSTER-YALE MATERIALS HANDLING INC. AND SUBSIDIARIES 
 Director Fee Policy

  
  
 This Director fee policy shall apply to each Director of Hyster-Yale Materials Handling, Inc. (Hyster-Yale) or one of its subsidiaries, other than (i) Directors who are full-time employees of
Hyster-Yale or one of its subsidiaries or (ii) Directors who have entered into separate written fee agreements authorized by the Board of Directors and executed by an authorized officer of Hyster-Yale or one of its subsidiaries. 

Each Director of Hyster-Yale will receive an annual retainer of $125,000, payable quarterly in arrears. Each quarterly payment shall consist of $14,000
in cash and $17,250 worth of Hyster-Yale Class A Common Stock, transfer of which is restricted pursuant to the terms of the Hyster-Yale Non-Employee Directors’ Equity Compensation Plan. 

Each Director of NACCO Materials Handling Group, Inc. who is not a Director of Hyster-Yale will receive an annual retainer of $20,000, payable in cash
quarterly in arrears in installments of $5,000. 
 Each Chairman of a Committee of the Hyster-Yale Board of Directors will receive an additional
annual Committee Chairman’s fee of $5,000, payable in cash quarterly in arrears in installments of $1,250; provided, however, that the Chairman of the Audit Review Committee will receive an annual Committee Chairman’s fee of $10,000,
payable in cash quarterly in arrears in installments of $2,500. 100% of all fees paid for service as Chairman of a Committee is attributable to services for NACCO Materials Handling Group, Inc. and its subsidiaries. 

Each member of a Committee (other than the Executive Committee) of the Hyster-Yale Board of Directors, including Committee Chairmen, will receive an
additional annual Committee member’s fee of $5,000 for each Committee on which such Director serves, payable in cash quarterly in arrears in installments of $1,250. 100% of all fees paid for service as a member of a Committee is attributable to
services for NACCO Materials Handling Group, Inc. and its subsidiaries. 
 Each Director of Hyster-Yale or a Hyster-Yale subsidiary will be paid
a meeting fee of (a) $1,000 for each Hyster-Yale or subsidiary Board meeting attended, provided that no Director shall be paid for attendance at more than two Board meetings on any single day, and (b) $1,000 for each Committee meeting
attended. In the case of either joint meeting or joint committee meetings, the fees associated with that meeting will be allocated among the companies that actually met. 
 This policy is effective as of, and contingent upon, the occurrence of the “Spin-Off Date” as such term is defined in the 2012 Spin Off Agreement between NACCO Industries, Inc. and Hyster-Yale
Materials Handling, Inc.EX-10.71

 Exhibit 10.71 
 NACCO MATERIALS HANDLING GROUP, INC. 
 EXECUTIVE EXCESS RETIREMENT PLAN

 NACCO Materials Handling Group, Inc. (the “Company”) does hereby adopt this NACCO Materials Handling Group,
Inc. Executive Excess Retirement Plan (the “Plan”) to be effective as of, and contingent upon, the “Spin Off Date,” as such term is defined in the 2012 Separation Agreement between NACCO Industries, Inc. and Hyster-Yale Materials
Handling, Inc. (the “Effective Date”). 
 Effective as of the Effective Date, the Company hereby agrees to a partial
spin-off from the NACCO Materials Handling Group, Inc. Excess Retirement Plan (the “Excess Plan”) and the transfer of the liabilities attributable to the Chairman of the Company (the “Participant”) in the Excess Plan to the Plan.
The Participant shall cease to be a participant in the Excess Plan immediately upon such spin-off and transfer, and the Excess Plan shall have no liability or obligation thereafter to the Participant. Immediately after the spin-off and transfer, the
Participant shall have an Account balance in this Plan equal to the Account balance of the Participant in the Excess Plan immediately before such spin-off and transfer. This Plan shall be a continuation of the Excess Plan as to the Transferred
Participant. 
 ARTICLE I - PREFACE 

Section 1.1. Purpose of the Plan. The purpose of this Plan is to provide the Participant with the
benefits he would have received under the Profit Sharing Plan if he was a participant in such plan. 

Section 1.2. Governing Law. This Plan shall be regulated, construed and administered under the laws of
the State of North Carolina, except where preempted by federal law. 
 Section 1.3. Application
of Code Section 409A. 
 (a) The Excess 401(k) Sub-Accounts under the Plan are subject to the
requirements of Code Section 409A. The remainder of the Plan is intended to be exempt from the requirements of Code Section 409A. 
 (b) It is intended that the compensation arrangements under the Plan be in full compliance with the requirements of, or exceptions to, Code Section 409A. The Plan shall be interpreted and
administered in a manner to give effect to such intent. Notwithstanding the foregoing, the Company does not guarantee the Participant any particular tax result with respect to any payments provided hereunder, including tax treatment under Code
Section 409A. 
 ARTICLE II - DEFINITIONS 

Except as otherwise provided in this Plan, terms defined in the Profit Sharing Plan as it may be amended from time to time shall have the
same meanings when used herein, unless a different meaning is clearly required by the context of this Plan. In addition, the following words and phrases shall have the following respective meanings for purposes of this Plan: 

Section 2.1. Account shall mean the record maintained by the Company in accordance with
Section 4.1 as the sum of the Participant’s Excess Retirement Benefits 

 
hereunder. The Participant’s Account shall be further divided into the Sub-Accounts described in Article III hereof. 

Section 2.2. Beneficiary shall mean the person or persons designated by the Participant as his
Beneficiary under this Plan, on a form acceptable to the Plan Administrator prior to the Participant’s death. In the absence of a valid designation, a Participant’s Beneficiary shall be his surviving spouse or, if none, his estate.

 Section 2.3. Bonus shall mean any bonus under the Company’s annual incentive
compensation plan(s) that would be taken into account as Compensation under the Profit Sharing Plan, which is earned with respect to services performed by the Participant during a Plan Year (whether or not such Bonus is actually paid to the
Participant during such Plan Year). 
 Section 2.4. Company shall mean NACCO Materials
Handling Group, Inc. or any entity that succeeds NACCO Materials Handling Group, Inc. by merger, reorganization or otherwise. 
 Section 2.5. Compensation shall have the same meaning as under the Profit Sharing Plan, except that Compensation shall be deemed to include (i) the amount of compensation deferred
by the Participant under this Plan, (ii) amounts in excess of the limitation imposed by Code Section 401(a)(17). Notwithstanding the foregoing, the timing and crediting of Bonuses hereunder shall be as specified in Section 3.2.

 Section 2.6. Excess Retirement Benefit or Benefit shall mean an Excess Profit Sharing
Benefit, Excess 401(k) Benefit, Excess Employer Contribution Benefit or Excess Transitional Benefit (all as described in Article III) which is payable to or with respect to the Participant under this Plan. 

Section 2.7. Fixed Income Fund shall mean the Vanguard Retirement Savings Trust IV investment fund
under the Profit Sharing Plan or any equivalent fixed income fund thereunder which is designated by the Company’s Retirement Funds Investment Committee as the successor thereto. 

Section 2.8. Key Employee. A Participant shall be classified as a Key Employee if he meets the
following requirements: 
  

	 	(a)	The Participant, with respect to the Participant’s relationship with the Company and the Controlled Group Members, met the requirements of
Section 416(i)(1)(A)(i), (ii) or (iii) of the Code (without regard to Section 416(i) (5)) and the Treasury Regulations issued thereunder) at any time during the 12-month period ending on the most recent Identification Date
(defined below) and his Termination of Employment occurs during the 12-month period beginning on the most recent Key Employee Effective Date (defined below). When applying the provisions of Code Section 416(i)(1)(A)(i), (ii) or
(iii) for this purpose: (i) the definition of “compensation” (A) shall be the definition under Treasury Regulation Section 1.415(c)-2(d)(4) (i.e., the wages and other compensation for which the Employer is required to
furnish the Employee with a Form W-2 under Code Sections 6041, 6051 and 6052, plus amounts deferred at the election of the Employee under Code Sections 125, 132(f)(4) or 401(k)) and (B) shall apply the rule of Treasury Regulation
Section 1.415-2(g)(5)(ii) which excludes compensation of non-resident alien employees and (ii) the number of officers described in Code Section 416(i)(1)(A)(i) shall be 60 instead of 50. 

  
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	 	(b)	 The Identification Date for Key Employees is each December 31st and the Key Employee Effective Date is the following April 1st. As such, any Employee who is classified as a Key Employee as of
December 31st of a particular Plan Year shall
maintain such classification for the 12-month period commencing on the following April 1st. 

  

	 	(c)	Notwithstanding the foregoing, the Participant shall not be classified as a Key Employee unless the stock of NACCO Industries, Inc. (or a related entity) (for periods
prior to the Effective Date) or Hyster-Yale Materials Handling, Inc. (for periods after the Effective Date) (subject to any applicable transitional rules contained in Code Section 409A and the regulations issued thereunder) is publicly traded
on an established securities market or otherwise on the date of the Participant’s Termination of Employment. 

 Section 2.9. Participant shall mean the Chairman of the Company on the Effective Date. 
 Section 2.10. Plan Administrator shall mean the NACCO Materials Handling Group, Inc. Benefits Committee (the “Benefits Committee”). 

Section 2.11. Plan Year shall mean the calendar year. 

Section 2.12. Profit Sharing Plan shall mean the NACCO Materials Handling Group, Inc. Profit Sharing
Retirement Plan or any successor thereto. 
 Section 2.13. Termination of Employment means,
with respect to the Participant’s relationship with the Company and the Controlled Group Members, a separation from service as defined in Code Section 409A (and the regulations or other guidance issued thereunder). 

Section 2.14. Valuation Date shall mean the last day of each calendar month and any other date chosen
by the Plan Administrator. 
 ARTICLE III - EXCESS RETIREMENT BENEFITS – CALCULATION OF AMOUNT

 Section 3.1. Excess Profit Sharing Benefits. Each Plan Year, the Company shall credit
to a Sub-Account (the “Excess Profit Sharing Sub-Account”) established for the Participant an amount equal to the amount of the Company’s Profit Sharing Contribution which would have been made to the profit sharing portion of the
Profit Sharing Plan on behalf of the Participant if (a) the Participant was a participant in such Plan; (b) the Plan did not contain the limitations imposed under Sections 401(a)(17) and 415 of the Code or any limits on the amount of
Profit Sharing Contributions that may be paid to Highly Compensated Employees and (c) the term “Compensation” (as defined in Section 2.5 hereof) were used for purposes of determining the amount of profit sharing contributions
under the Profit Sharing Plan (the “Excess Profit Sharing Benefits”). 
 Section 3.2.
Basic and Additional Excess 401(k) Benefits. 
 (a) Applicability. The provisions of this
Section 3.2 shall apply during the 2012 Plan Year (and the 2013 Plan Year, but solely with respect to the Participant’s Bonus that was earned in 2012 and will be paid in 2013). The Participant’s deferral election under the Excess Plan
relating to his 2012 Compensation (including his Bonus that will be paid in 2013) shall continue in full force and 

  
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effect under this Plan after the Effective Date. All amounts deferred by the Participant under this Section 3.2 shall be referred to herein collectively as the “Excess 401(k)
Benefits.” Notwithstanding anything in the Plan to the contrary, in no event shall the Participant be entitled to receive Excess 401(k) Benefits under the Plan for Plan Years commencing on and after January 1, 2014. 

(b) Classification of Excess 401(k) Benefits. The Excess 401(k) Benefits for the 2012 Plan Year (and the 2013 Plan
Year, but solely with respect to the Participant’s Bonus that was earned in 2012 and will be paid in 2013) shall be calculated monthly and shall be further divided into the “Basic Excess 401(k) Benefits” and the “Additional
Excess 401(k) Benefits” as follows: 
 (i) The Basic Excess 401(k) Benefits shall be determined by multiplying each Excess
401(k) Benefit by a fraction, the numerator of which is the lesser of the percentage of Compensation elected to be deferred in the deferral election form for such Plan Year or 7% and the denominator of which is the percentage of Compensation elected
to be deferred; and 
 (ii) The Additional Excess 401(k) Benefits (if any) shall be determined by multiplying each Excess 401(k)
Benefit by a fraction, the numerator of which is the excess (if any) of (1) the percentage of Compensation elected to be deferred in the deferral election form for such Plan Year over (2) 7%, and the denominator of which is the percentage
of Compensation elected to be deferred. 
 The Basic Excess 401(k) Benefits shall be credited to the Basic Excess 401(k)
Sub-Account under this Plan and the Additional Excess 401(k) Benefits shall be credited to the Additional Excess 401(k) Sub-Account hereunder. The Basic and Additional Excess 401(k) Sub-Accounts shall be referred to collectively as the “Excess
401(k) Sub-Account.” 
 Section 3.3. Excess Employer Contributions. For each Plan Year
beginning on and after January 1, 2013, the Company shall credit to a Sub-Account (the “Excess Employer Contribution Sub-Account”) established for the Participant an amount equal to 3% of his Compensation (the “Excess Employer
Contribution Benefits”). Notwithstanding the foregoing, for 2012, the Participant’s Excess Employer Contribution Benefit shall be an amount equal to the Matching Employer Contributions attributable to the Excess 401(k) Benefits he is
prevented from receiving under the Profit Sharing Plan because of various Code limitations or as a result of his deferral of Compensation under this Plan. 
 Section 3.4. Transitional Benefits. The Company shall credit to a Sub-Account (the “Transitional Sub-Account”) established for the Participant an amount equal to $37,710 (the
“Transitional Benefit”) on December 31, 2012 and on each following December 31st; provided, however, that the Participant remains employed by the Company on each such date. 

ARTICLE IV - ACCOUNTS 
 Section 4.1. Participant Accounts. The Company shall establish and maintain on its books an Account for the Participant which shall contain the following entries: 

(a) Credits to an Excess Profit Sharing Sub-Account for the Excess Profit Sharing Benefits described in Section 3.1,
which shall be credited to the Sub-Account at the time the Profit Sharing Contributions would otherwise be credited to the Participant’s account under the Profit Sharing Plan. 

  
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 (b) Credits to a Basic or Additional Excess 401(k) Sub-Account for the Basic
and Additional Excess 401(k) Benefits described in Section 3.2, which shall be credited to the Sub-Account when the Participant is prevented from making a Before-Tax Contribution under the Profit Sharing Plan. 

(c) Credits to an Excess Employer Contribution Sub-Account for the Excess Employer Contribution Benefits described in
Section 3.3, which amounts shall be credited to the Sub-Account as of the last day of each calendar month; provided, however, that amounts credited to the Participant’s Excess Employer Contribution Sub-Account in 2012 shall
be credited when the Participant is prevented from receiving Matching Employer Contributions under the Profit Sharing Plan. 
 (d) Credits to the Transitional Sub-Account for the Transitional Benefit at the time(s) described in Section 3.4. 

(e) Credits to all Sub-Accounts for the earnings and the uplift described in Article V. 

(f) Debits for any distributions made from the Sub-Accounts. 

(g) Any amounts that were credited to the Participant’s corresponding sub-accounts under the Excess Plan shall be
transferred to the appropriate sub-accounts under this Plan as of the Effective Date. 
 ARTICLE V –
EARNINGS/UPLIFT 
 Section 5.1. Earnings. 

Subject to Section 5.3, at the end of each calendar month during a Plan Year, the Excess 401(k), the Transitional Sub-Account and
Excess Employer Contribution Sub-Accounts of the Participant shall be credited with an amount determined by multiplying such Participant’s Sub-Account balance during such month by the blended rate earned during the prior month by the Fixed
Income Fund. Notwithstanding the foregoing, no interest shall be credited for the month in which a Sub-Account is distributed hereunder. 
 Section 5.2. Uplift on Plan Payments. 
 Subject to
Section 5.3, but in addition to the earnings described in Section 5.1, the balance of the Basic Excess 401(k) Sub-Account, the Excess Employer Contribution Sub-Account, the Transitional Sub-Account and the Excess Profit Sharing Sub-Account
as of the last day of the month prior to the payment date shall each be increased by an additional 15%. 

Section 5.3. Changes/Limitations. 

(a) The Compensation Committee of Hyster-Yale Materials Handling, Inc. may change (or suspend) (i) the earnings rate
credited on Accounts and/or (ii) the amount of the uplift under the Plan at any time. 

  
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 (b) Notwithstanding any provision of the Plan to the contrary, in no event
will earnings on Accounts for a Plan Year (excluding the uplift under Section 5.2) be credited at a rate which exceeds 14%. 

ARTICLE VI - VESTING 
 Section 6.1. Vesting. The Participant shall always be 100% vested in all amounts credited to his Account hereunder. 

ARTICLE VII - TIME AND FORM OF PAYMENT 

Section 7.1. Time and Form of Payment. All amounts credited to the
Participant’s Sub-Accounts for each Plan Year (a) including the Excess Profit Sharing Benefits, earnings and uplift that are credited after the end of a Plan Year but (b) reduced for any applicable withholding taxes shall
automatically be paid to the Participant (or his Beneficiary in event of his death) in the form of a single lump sum payment on March 15th of the immediately following Plan Year. 

Section 7.2. Other Payment Rules and Restrictions. 

 

	 	(a)	Payments Violating Applicable Law. Notwithstanding any provision of the Plan to the contrary, the payment of all or any portion of the amounts payable hereunder
will be deferred to the extent that the Company reasonably anticipates that the making of such payment would violate Federal securities laws or other applicable law (provided that the making of a payment that would cause income taxes or penalties
under the Code shall not be treated as a violation of applicable law). The deferred amount shall become payable at the earliest date at which the Company reasonably anticipates that making the payment will not cause such violation.

  

	 	(b)	Delayed Payments due to Solvency Issues. Notwithstanding any provision of the Plan to the contrary, the Company shall not be required to make any payment
hereunder to the Participant or Beneficiary if the making of the payment would jeopardize the ability of the Company to continue as a going concern; provided that any missed payment is made during the first calendar year in which the funds of the
Company are sufficient to make the payment without jeopardizing the going concern status of the Company. 

  

	 	(c)	 Key Employees. Notwithstanding any provision of the Plan to the contrary, to the extent the payment of a Sub-Account is subject to Code
Section 409A, the payment of such Sub-Account to a Key Employee made on account of a Termination of Employment may not be made before the 1st day of the seventh month following such Termination of Employment (or, if earlier, the date of death) except for
payments made on account of (i) a QDRO (as specified in Section 8.5) or (ii) a conflict of interest or the payment of FICA taxes (as specified in Subsection (e) below). Any amounts that are 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 within 30 days following the 1st day of the 7th month following Termination of Employment. 

 

	 	(d)	 Acceleration of Payments. Notwithstanding any provision of the Plan to the contrary, to the extent a Sub-Account is subject to 409A, payments of
such Sub-Account hereunder may be accelerated (i) to the extent necessary to comply with federal, state, local or foreign ethics or conflicts of interest laws or agreements or (ii) to the extent necessary to pay the FICA taxes imposed on
benefits hereunder under Code Section 3101, and the income withholding taxes 

  
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related thereto. Payments may also be accelerated if the Plan (or a portion thereof) fails to satisfy the requirements of Code Section 409A; provided that the amount of such payment may not
exceed the amount required to be included as income as a result of the failure to comply with Code Section 409A. 

  

	 	(e)	Withholding/Taxes. To the extent required by applicable law, the Company shall withhold from the Excess Retirement Benefits hereunder, any income, employment or
other taxes required to be withheld by any government or governmental agency. 

 ARTICLE VIII -
MISCELLANEOUS 
 Section 8.1. Liability of the Company. Nothing in this Plan shall
constitute the creation of a trust or other fiduciary relationship between the Company and the Participant, his Beneficiary or any other person. 
 Section 8.2. Limitation on Rights of Participants and Beneficiaries – No Lien. This Plan is designed to be an unfunded, nonqualified plan. Nothing contained herein shall be deemed
to create a trust or lien in favor of the Participant or his Beneficiary on any assets of the Company. The Company shall have no obligation to purchase any assets that do not remain subject to the claims of the creditors of the Company for use in
connection with the Plan. None of the Participant, his Beneficiary, or any other person shall have any preferred claim on, or any beneficial ownership interest in, any assets of the Company prior to the time that such assets are paid to the
Participant or his Beneficiary as provided herein. The Participant and his Beneficiary shall have the status of a general unsecured creditor of the Company. The amount standing to the credit of the Participant’s Sub-Account is purely notional
and affects only the calculation of benefits payable to or in respect of him. It does not give the Participant any right or entitlement (whether legal, equitable or otherwise) to any particular assets held for the purposes of the Plan or otherwise.

 Section 8.3. No Guarantee of Employment. Nothing in this Plan shall be construed as
guaranteeing future employment to the Participant. The Participant continues to be an Employee of the Company solely at the will of the Company subject to discharge at any time, with or without cause. 

Section 8.4. Payment to Guardian. If a Benefit payable hereunder is payable to a minor, to a person
declared incompetent or to a person incapable of handling the disposition of his property, the Plan Administrator may direct payment of such Benefit to the guardian, legal representative or person having the care and custody of such minor,
incompetent or person. The Plan Administrator may require such proof of incompetency, minority, incapacity or guardianship as it may deem appropriate prior to distribution of the benefit. Such distribution shall completely discharge the Company from
all liability with respect to such Benefit. 
 Section 8.5. Anti-Assignment. 

(a) Subject to Subsection (b), no right or interest under this Plan of the Participant or his Beneficiary shall be
assignable or transferable in any manner or be subject to alienation, anticipation, sale, pledge, encumbrance or other legal process or in any manner be liable for or subject to the debts or liabilities of the Participant or his Beneficiary.

  
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 (b) Notwithstanding the foregoing, the Plan Administrator shall honor a
qualified domestic relations order (“QDRO”) from a state domestic relations court which requires the payment of all or a part of the Participant’s or his Beneficiary’s vested interest under this Plan to an “alternate
payee” as defined in Code Section 414(p). 
 Section 8.6. Severability. If any
provision of this Plan or the application thereof to any circumstance(s) or person(s) is held to be invalid by a court of competent jurisdiction, the remainder of the Plan and the application of such provision to other circumstances or persons shall
not be affected thereby. 
 Section 8.7. Effect on other Benefits. Benefits payable to or with
respect to the Participant under any other Company sponsored (qualified or nonqualified) plan, if any, are in addition to those provided under this Plan. 
 ARTICLE IX - ADMINISTRATION OF PLAN 

Section 9.1. Administration. 

(a) In General. The Plan shall be administered by the Plan Administrator. The Plan Administrator shall have
discretion to interpret where necessary all provisions of the Plan (including, without limitation, by supplying omissions from, correcting deficiencies in, or resolving inconsistencies or ambiguities in, the language of the Plan), to make factual
findings with respect to any issue arising under the Plan, to determine the rights and status under the Plan of the Participant or other persons, to resolve questions (including factual questions) or disputes arising under the Plan and to make any
determinations with respect to the benefits payable under the Plan and the persons entitled thereto as may be necessary for the purposes of the Plan. Without limiting the generality of the foregoing, the Plan Administrator is hereby granted the
authority to determine if a person is entitled to Benefits hereunder and, if so, the amount and duration of such Benefits. The Plan Administrator’s determination of the rights of any person hereunder shall be final and binding on all persons,
subject only to the provisions of Sections 9.3 and 9.4 hereof. 
 (b) Delegation of Duties. The Plan
Administrator may delegate any of its administrative duties, including, without limitation, duties with respect to the processing, review, investigation, approval and payment of Benefits, to a named administrator or administrators. 

Section 9.2. Regulations. The Plan Administrator may promulgate any rules and regulations it deems
necessary in order to carry out the purposes of the Plan or to interpret the provisions of the Plan; provided, however, that no rule, regulation or interpretation shall be contrary to the provisions of the Plan. The rules, regulations and
interpretations made by the Plan Administrator shall, subject only to the provisions of Sections 9.3 and 9.4 hereof, be final and binding on all persons. 
 Section 9.3. Claims Procedures. 
 (a) The Plan
Administrator shall determine the rights of any person to any Benefits hereunder. Any person who believes that he has not received the Benefits to which he is entitled under the Plan must file a claim in writing with the Plan Administrator. The Plan
Administrator shall, no later than 90 days after the receipt of a claim (plus an additional period of 90 days if required for processing, provided that notice of the extension of time is given to the claimant within the first 90 day period), either
allow or deny the claim in writing. 

  
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 (b) A written denial of a claim by the Plan Administrator, wholly or
partially, shall be written in a manner calculated to be understood by the claimant and shall include: (i) the specific reasons for the denial; (ii) specific reference to pertinent Plan provisions on which the denial is based; (iii) a
description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and (iv) an explanation of the claim review procedure and the time limits
applicable thereto (including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review). 

(c) A claimant whose claim is denied (or his duly authorized representative) who wants to contest that decision must file
with the Plan Administrator a written request for a review of such claim within 60 days after receipt of denial of a claim. If the claimant does not file a request for review of his claim within such 60-day period, the claimant shall be deemed to
have acquiesced in the original decision of the Plan Administrator on his claim. If such an appeal is so filed within such 60 day period, the Compensation Committee of Hyster-Yale Materials Handling, Inc. (or its delegate) shall conduct a full and
fair review of such claim. During such review, the claimant shall be given the opportunity to review documents that are pertinent to his claim and to submit issues and comments in writing. For this purpose, the Compensation Committee of Hyster-Yale
Materials Handling, Inc. (or its delegate) shall have the same power to interpret the Plan and make findings of fact thereunder as is given to the Plan Administrator under Section 9.1(a) above. 

(d) The Compensation Committee of Hyster-Yale Materials Handling, Inc. (or its delegate) shall mail or deliver to the
claimant a written decision on the matter based on the facts and the pertinent provisions of the Plan within 60 days after the receipt of the request for review (unless special circumstances require an extension of up to 60 additional days, in which
case written notice of such extension shall be given to the claimant prior to the commencement of such extension). Such decision shall be written in a manner calculated to be understood by the claimant, shall state the specific reasons for the
decision and the specific Plan provisions on which the decision was based and, to the extent permitted by law, shall be final and binding on all interested persons. In addition, the notice of adverse determination shall also include statements that
the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records and other information relevant to the claimant’s claim for benefits and a statement of the claimant’s right to
bring a civil action under Section 502(a) of ERISA. 
 Section 9.4.
Revocability/Recovery. Any action taken by the Plan Administrator or the Compensation Committee of Hyster-Yale Materials Handling, Inc. (or its delegate) a with respect to the rights or benefits under the Plan of any person shall be revocable
as to payments not yet made to such person. In addition, the acceptance of any Benefits under the Plan constitutes acceptance of and agreement to the Plan making any appropriate adjustments in future payments to any person (or to recover from such
person) any excess payment or underpayment previously made to him. 
 Section 9.5. Amendment.
The Company (with the approval or ratification of the Compensation Committee of Hyster-Yale Materials Handling, Inc.) may at any time prospectively or retroactively amend any or all of the provisions of this Plan for any reason whatsoever, except
that, without the prior written consent of the Participant, no such amendment may (a) reduce the amount of any Participant’s vested Benefit as of the date of such amendment or (b) alter the time of payment provisions described in
Article VII of the Plan, except for any amendments that are required to bring such provisions into compliance with the requirements of, or exceptions to, Code Section 409A or that accelerate the time of payment (provided that such amendments
comply with the requirements of Code Section 409A 

  
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as applied to any Sub-Account that is subject to the requirements of Code Section 409A). Any amendment shall be in the form of a written instrument executed by an officer of the Company.
Subject to the foregoing provisions of this Section, such amendment shall become effective as of the date specified in such instrument or, if no such date is specified, on the date of its execution. 

Section 9.6. Termination. 

(a) Subject to Subsection (b), the Company (with the approval or ratification of the Compensation Committee of Hyster-Yale
Materials Handling, Inc.), in its sole discretion, may terminate this Plan at any time and for any reason whatsoever, except that, without the prior written consent of the Participant, no such termination may (i) reduce the amount of the
Participant’s vested Benefit as of the date of such termination or (ii) alter the payment provisions described in Article VII of the Plan, except for changes that are required to bring such provisions into compliance with the requirements
of, or exceptions to, Code Section 409A or that accelerate the time of payment (in a manner permitted under Code Section 409A as applied to any Sub-Account that is subject to the requirements of Code Section 409A). Any such
termination shall be expressed in the form of a written instrument executed by an officer of the Company on the order of the Compensation Committee of Hyster-Yale Materials Handling, Inc. Subject to the foregoing provisions of this Section, such
termination shall become effective as of the date specified in such instrument or, if no such date is specified, on the date of its execution. Written notice of any termination shall be given to the Participant at a time determined by the Plan
Administrator. 
 (b) Notwithstanding anything in the Plan to the contrary, in the event of a termination of the
Plan (or any portion thereof), the Company, in its sole and absolute discretion, shall have the right to change the time and form of distribution of the Participant’s Excess Retirement Benefits but only to the extent such change is permitted by
Code Section 409A and Treasury Regulations or other guidance issued thereunder. 
 Section 9.7.
Expenses. The expenses of administering the Plan shall be paid by the Company. 
 EXECUTED, this
     day of         , 2012. 
  

			
	NACCO MATERIALS HANDLING GROUP, INC.
		
	By:	 	  

	Title:	 	

  
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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]