Document:

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EXHIBIT 4.4

FIRST AMENDMENT

TO

GATX CORPORATION

HOURLY EMPLOYEES RETIREMENT

SAVINGS PLAN

     By virtue and in exercise of the amending authority reserved to GATX Corporation by the
provisions of subsection 13.1 of GATX Corporation Hourly Employees Retirement Savings Plan (the
“Plan”), and pursuant to the authority delegated to the undersigned, the Plan is hereby amended,
effective as of January 1, 1999, by adding the following sentence to the Plan to follow immediately
after the last sentence of Section 11.6 thereof:

     “Effective as of January 1, 1999, the term ‘eligible rollover distribution’ excludes hardship
distributions as described in section 401(k)(2)(B)(i)(IV) of the Code.”

     WITNESS WHEREOF,
the undersigned has executed this amendment this 23 day of
December,
2002.

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ R. Ciancio	 	 
	 
	 	 	 	 

	 	 
	 
	 	Its:	 	Vice President, General Counsel and Secretaryexv4w5

 

EXHIBIT 4.5

SECOND AMENDMENT

TO

GATX CORPORATION

HOURLY EMPLOYEES RETIREMENT

SAVINGS PLAN

(As Amended and Restated Effective as of January 1, 1997)

     GATX Corporation (the “Company”) maintains GATX Corporation Hourly Employees Retirement
Savings Plan, as amended and restated effective as of January 1, 1997 (the “Plan”). This amendment
of the Plan is adopted to reflect certain provisions of the Economic Growth and Tax Relief
Reconciliation Act of 2001 (“EGTRRA”). This amendment is intended as good faith compliance with
the requirements of EGTRRA, and is to be construed in accordance with EGTRRA and guidance issued
thereunder. Pursuant to and in exercise of the amending authority reserved to the Chief Executive
Officer of the Company by the provisions of the Plan, the Plan is hereby amended in the following
particulars, each of which shall be effective, except as otherwise specifically indicated, as of
January 1, 2002:

     1. Effective as of August 1, 2002, by substituting the following for subsection 4.1 of the
Plan:

     “4.1. Amount of Before-Tax Contributions. Subject to the terms and conditions of the
Plan, a Participant may elect as follows:

	 	(a)	 	Subject to the limitations set forth in section 4.6 and Section 8, for each
payroll period, a Participant may elect to have his pay reduced, and a corresponding
amount contributed on his behalf to the Plan, which amount shall not be less than 1
percent or more than 15 percent of his Eligible Compensation (as defined in subsection
4.5) for each payroll period during which he is eligible to participate in the Plan.
Any contributions made on behalf of a Participant pursuant to this paragraph (a) shall
be referred to as a “Before-Tax Contribution”.
	 
	 	(b)	 	All Participants who are eligible to make Before-Tax Contributions under this
Plan for any Plan Year pursuant to paragraph (a) next above and who have attained age
50 before the close of such Plan Year shall be eligible to make, in addition to the
Before-Tax Contributions described in paragraph (a) next above, “catch-up” Before-Tax
Contributions in accordance with, and subject to the limitations of, section 414(v) of
the Code and such additional rules as the Benefits Committee may establish on a uniform
and nondiscriminatory basis. Such catch-up Before-Tax Contributions shall not be taken
into account for purposes of the limitations on Before-Tax Contributions described in
paragraph (a) next above, or for purposes of the provisions of the Plan implementing
the required limitations of Code sections 402(g) and 415. The Plan shall not be
treated as failing to satisfy the provisions of the Plan implementing the requirements
of section 401(k)(3), 410(b) or 416 of the Code, as applicable, by reason of the making
of such catch-up Before-Tax Contributions.

 

 

Any election pursuant to this subsection 4.1 shall be made and be effective in accordance with such
rules and procedures as the Benefits Committee may establish from time to time on a uniform and
nondiscriminatory basis.”

     2. By adding the following to Section 4.4 of the Plan to follow immediately after the second
sentence thereof:

     “Notwithstanding the foregoing provisions of this subsection 4.4, effective as of August 1, 2002,
the Plan will accept a direct rollover of an eligible rollover distribution from a qualified plan
described in section 401(a) or 403(a) of the Code (including after-tax employee contributions), an
annuity contract described in section 403(b) of the Code (excluding after-tax employee
contributions) and an eligible plan under section 457(b) of the Code which is maintained by a
state, political subdivision of a state, or any agency or instrumentality of a state or political
subdivision of a state. The Plan will also accept, effective as of August 1, 2002, a Participant
rollover contribution of the portion of a distribution from an individual retirement account or
annuity described in section 408(a) or 408(b) of the Code that is eligible to be rolled over and
would otherwise be includible in gross income.” [GATX to confirm that it will not accept
participant rollover contributions except direct rollovers or from an IRA.]

     3. By adding the following new sentence to subsection 4.6 of the Plan to follow immediately
after the last sentence thereof:

     “The annual Eligible Compensation of each Participant taken into account in determining allocations
under subsection 4.1, 5.1 and 5.2 of the Plan for any Plan Year beginning after December 31, 2001
shall not exceed $200,000, as adjusted for cost-of-living increases in accordance with section
401(a)(17) of the Code. Annual Eligible Compensation means Eligible Compensation during the Plan
Year or such other consecutive 12-month period over which Eligible Compensation is otherwise
determined under the Plan (the determination period). The cost-of-living adjustment in effect for
a calendar year applies to annual Eligible Compensation for the determination period that begins
with or within such calendar year.”

     4. Effective as of August 1, 2002, by adding the phrase “(excluding catch-up Before-Tax
Contributions)” immediately following the phrase “Before-Tax Contributions” in each place where the
latter phrase appears in subsections 5.1 and 5.2 of the Plan.

     5. Effective as of August 1, 2002, by adding the following new sentence to the Plan to
following immediately after the last sentence in subsection 5.1 thereof:

“No Matching Contribution shall be made with respect to catch-up Before-Tax Contributions.”

     6. Effective as of August 1, 2002, by adding the following new sentence to the Plan to
following immediately after the last sentence in subsection 5.2 thereof:

“No Qualified Matching Contribution shall be made with respect to catch-up Before-Tax
Contributions.”

     7. By substituting the following for so much of subsection 8.2 of the Plan as precedes the
second sentence thereof:

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     “8.2. Limitation on Annual Additions. Except to the extent permitted under paragraph
4.1(b) of the Plan and section 414(v) of the Code (relating to catch-up Before-Tax Contributions),
and notwithstanding any other provision of the Plan to the contrary, a Participant’s Annual
Additions (as defined below) for any Plan Year shall not exceed an amount equal to the lesser of:

	 	“(a) $40,000, as adjusted for increases in the cost-of-living under section 415(d)
of the Code; or
	 
	 	  (b)	 	100% of the Participant’s Compensation for that Plan Year calculated as if each
Section 415 Affiliate (described below) were a Related Company,

reduced by any Annual Additions for the Participant for the Plan Year under any other defined
contribution plan of an Employer or a Related Company or Section 415 Affiliate, provided that if
any other such plan has a similar provision, the reduction shall be pro rata.”

     8. By substituting, effective as of August 1, 2002, the phrase “(other than Rollover
Contributions and catch-up Before-Tax Contributions described in paragraph 4.1(b))” for the first
parenthetical phrase in the second sentence of subsection 8.2 of the Plan, and by adding, effective
as of January 1, 2002, the following to the third sentence of subsection 8.2 of the Plan
immediately before the period therein:

“; provided, however, that the compensation limit referred to in paragraph (b) next above shall not
apply to any contribution for medical benefits after separation from service (within the meaning of
section 401(h) or section 419(f)(2) of the Code) which is otherwise treated as an Annual Addition.”

     9. Effective as of August 1, 2002, by adding the following sentence to the Plan to follow
immediately after the last sentence of subsection 8.6 thereof:

“The limitations and other provisions of this subsection 8.6 shall not apply to catch-up Before-Tax
Contributions made pursuant to paragraph 4.1(b) of the Plan and section 414(v) of the Code.”

     10. Effective as of August 1, 2002, by adding the following new sentence to the Plan to follow
immediately after the last sentence in subsection 8.7 thereof:

“For purposes of this subsection 8.7, catch-up Before-Tax Contributions shall be disregarded.”

     11. Effective as of August 1, 2002, by adding the following new sentence to the Plan to follow
immediately after the last sentence in subsection 8.8 thereof:

“Amounts that are catch-up Before-Tax Contributions made in accordance with paragraph 4.1(b) of the
Plan and section 414(v) of the Code shall be disregarded for purposes of the tests and other
provisions of this subsection 8.8.”

     12. Effective as of August 1, 2002, by adding the following new sentence immediately following
the last sentence of subsection 8.9 thereof:

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“For purposes of determining the amount of a Participant’s Before-Tax Contributions under this
subsection 8.9, catch-up Before-Tax Contributions shall be disregarded.”

     13. By adding the following new sentence to subsection 8.12 of the Plan to follow immediately
after the last sentence therein:

“The multiple use test described in Treasury Regulations 1.401(m)-2 and this subsection 8.12 shall
not apply for Plan Years beginning after December 31, 2001.”

     14. By adding the following clause to the Plan to follow immediately after the semi-colon in
subparagraph (iii) of subsection 10.3(b) thereof:

“ provided, however, that if a Participant receives a Hardship withdrawal after

December 31, 2001 which includes amounts attributable to his Before-Tax Contributions, the
suspension of contributions described in this subparagraph (iii) shall apply for only 6 months
(rather than 12 months) after receipt of such withdrawal.”

     15. By adding the following to Section 11.6 of the Plan to follow immediately after the last
sentence thereof:

“Effective for distributions in Plan Years beginning after December 31, 2001, an ‘eligible
retirement plan’ shall also include an annuity contract described in section 403(b) of the Code and
an eligible plan under section 457(b) of the Code which 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 which agrees to separately account for amounts transferred into such plan from the Plan.
The definition of ‘eligible retirement plan’ shall also apply in the case of a distribution to a
surviving Spouse or to a spouse or former spouse who is the alternate payee under a qualified
domestic relations order, as defined in section 414(p) of the Code. For purposes of this direct
rollover option: (i) any amount that is distributed on account of hardship shall not be an
‘eligible rollover distribution’ and the distributee may not elect to have any portion of such a
distribution paid directly to an eligible retirement plan; and (ii) a portion of a distribution
shall not fail to be an ‘eligible rollover distribution’ merely because the portion consists of
after-tax employee contributions which are not includible in gross income; provided however, that
any such portion may be transferred only to an individual retirement account or annuity described
in section 408(a) or (b) of the Code or to a qualified defined contribution plan described in
section 401(a) or 403(a) of the Code that agrees to separately account for amounts so transferred,
including separately accounting for the portion of such distribution which is includible in gross
income and the portion of such distribution which is not so includible.”

     16. By adding the following new Section A-13 to the Plan to follow immediately after Section
A-12 of Supplement A thereof:

	 	 	 
	EGTRRA Provisions

	 	A-13. Effective for Plan Years beginning after December 31, 2001, the
following provisions shall apply for purposes of determining whether the Plan is Top-Heavy and
whether the Plan satisfies the minimum benefit requirements of section 416(c) of the Code for
such years and shall supersede the otherwise applicable

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	 	 	 	provisions of this Supplement A to the extent inconsistent therewith.

	 	(a)	 	Key Employee. ‘Key
Employee’ means any employee or former employee (including any
deceased employee) who at any time during the Plan Year that
includes the determination date was an officer of any Employer
or Related Company having annual compensation greater than
$130,000 (as adjusted under section 416(i)(1) of the Code for
Plan Years beginning after December 31, 2002), a 5-percent owner
of any Employer or Related Company, or a 1-percent owner of any
Employer or Related Company having annual compensation of more
than $150,000. For this purpose, annual compensation means
compensation within the meaning of Section 415(c)(3) of the
Code. The determination of who is a Key Employee will be made
in accordance with section 416(i)(1) of the Code and the
applicable regulations and other guidance of general
applicability issued thereunder.
	 
	 	(b)	 	Determination of present
values and amounts. This Section A-13(b) shall apply for
purposes of determining the present values of accrued benefits
and the amounts of account balances of employees as of the
determination date.

	 	(i)	 	Distributions
during year ending on the determination date. The
present values of accrued benefits and the amounts of
account balances of an employee as of the determination
date shall be increased by the distributions made with
respect to the employee under the Plan and any plan
aggregated with the Plan under section 416(g)(2) of the
Code during the 1-year period ending on the
determination date. The preceding sentence shall also
apply to distributions under a terminated plan which,
had it not been terminated, would have been aggregated
with the Plan under section 416(g)(2)(A)(i) of the Code.
In the case of a distribution made for a reason other
than separation from service, death, or disability, this
provision shall be applied by substituting ‘5-year
period’ for ‘1-year period.’
	 
	 	(ii)	 	Employees not
performing services during year ending on the
determination date. The accrued benefits and
accounts of any individual who has not performed
services for the employer during the 1-

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	 	 	 	year period ending on the determination date shall
not be taken into account.

	 	(c)	 	Minimum benefits for Matching
Contributions. Notwithstanding the provisions of section
A-11 to the contrary, employer matching contributions shall be
taken into account for purposes of satisfying the minimum
contribution requirements of section 416(c)(2) of the Code and
the Plan. Employer matching contributions that are used to
satisfy the minimum contribution requirements shall be treated
as matching contributions for purposes of the actual
contribution percentage test (described in subsection 8.10) and
other requirements of section 401(m) of the Code.”

IN WITNESS WHEREOF, the undersigned officer of the Company has set his hand this 6 day of December
2002.

	 	 	 	 	 	 	 
	 

	 	By:
	 	/s/ R. Ciancio
 

	 	 
	 

	 	Its:	 	Vice President	 	 
	 

	 	 	 	 	 	 

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