Exhibit 10(clxxii)
AMENDMENT NO. 4
TO
THE NORTH AMERICAN COAL CORPORATION RETIREMENT SAVINGS PLAN
The North American Coal Corporation hereby adopts this Amendment No. 4 to
The North American Coal Corporation Retirement Savings Plan (As Amended and
Restated Effective as of January 1 1993) (the "Plan"). Except as specifically
stated herein, the provisions of this Amendment shall be effective June 30,
1995. Words and phrases used herein with initial capital letters which are
defined in the Plan are used herein as so defined.
Section 1
Section 1.1(35) of the Plan is hereby amended in its entirety to read as
follows:
"(35) Trustee: Any bank that is a custodian or trustee and
that is appointed to hold and administer some or all of the
assets of the Plan pursuant to Article VII hereof."
Section 2
Section 1.1(36) of the Plan is hereby amended in its entirety to read as
follows:
"(36) Trust Agreement: Any agreement between the Company and a
Trustee. All or a portion of the assets of the Plan may be
held in a master trust arrangement with the assets of the
other qualified defined contribution plans of the controlled
group."
Section 3
Section 1.1(38) of the Plan is hereby amended in its entirety to read as
follows:
"(38) Valuation Date: Each day on which the New York Stock
Exchange is open for trading."
Section 4
Effective as of January 1, 1995, Section 4.6(1)(a) of the Plan is hereby
amended by deleting the phrase "(or, if greater, one-fourth of the dollar
limitation in effect under Code Section 415(b)(1)(A))" and replacing it with the
phrase "(as adjusted pursuant to Code Section 415(d))."
Section 5
The third sentence of Section 4.6(4) of the Plan is hereby amended in its
entirety to read as follows:
"Investment gains and losses shall be allocated to the
suspense account during the period such suspense account is
required to be maintained pursuant to this Subsection."
Section 6
The first sentence of Section 5.3 of the Plan is hereby amended in its
entirety to read as follows:
"Each Participant shall, in accordance with rules and
procedures established by the Administrative Committee for
this purpose, direct that After-Tax Contributions, Before-Tax
Contributions, Matching Contributions and repayments of a loan
made by or for him be invested in such of the Investment Funds
as the Participant shall select."
Section 7
The first sentence of Section 5.5 of the Plan is hereby amended in its
entirety to read as follows:
"An investment option provided for in Section 5.3 and an
investment change provided for in Section 5.4 shall be made in
accordance with rules and procedures adopted by the
Administrative Committee for this purpose."
Section 8
Section 6.3(1) of the Plan is hereby amended by deleting the phrase "valued
as of the Valuation Date" in the first sentence thereof and replacing it with
the phrase "valued on the Valuation Date."
Section 9
Section 6.3(2) of the Plan is hereby amended in its entirety to read as
follows:
"(2) Distributions pursuant to this Section shall be paid (or
commence to be paid) to a Participant and shall be valued on
the Valuation Date that authorized distribution instructions
are received by the Trustee from the Administrative Committee,
following the Participant's termination of employment and
filing of an application pursuant to Section 6.1."
Section 10
Section 6.3(3)(a) of the Plan is hereby amended by deleting the phrase
"shall be paid to him in a lump sum payment in cash as soon as practicable after
the Valuation Date coinciding with or next following his termination of
employment" and replacing it with the phrase ", valued on the Valuation Date
that authorized distribution instructions are received by the Trustee from the
Administrative Committee, shall be paid to him in a lump sum payment in cash as
soon as practicable following the Participant's termination of employment."
Section 11
The first sentence of Section 6.6 of the Plan is hereby amended by deleting
the phrase "effective as of the first day of the month following notification of
the Trustee by the Administrative Committee" and replacing it with the phrase
"effective as of the Valuation Date that authorized distribution instructions
are received by the Trustee from the Administrative Committee."
Section 12
Effective as of January 1, 1994, the first sentence of Section 8.11 of the
Plan is hereby amended in its entirety to read as follows:
"NACCO Industries, Inc. has established a "Retirement Funds
Investment Committee" (the "Investment Committee") pursuant to
the terms of an Instrument of Creation and Delegation dated
October 28, 1992 (as amended)."
EXECUTED this 30th day of June, 1995, to be effective as of the dates
indicated above.
THE NORTH AMERICAN COAL CORPORATION
By: Charles A. Bittenbender
Title: Assistant Secretary