Exhibit 10.8

                                 AMENDMENT NO. 1
                                     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. 1 to the 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 January 1, 2006. Words and phrases used
herein with initial capital letters which are defined in the Plan are used
herein as so defined.

                                    Section 1

     Pursuant to the amendment and termination powers granted under Section 11
of the Plan, the Company, on the order of the Compensation Committee, hereby
permanently freezes the Plan, effective as of January 1, 2006. As a result, the
Plan is hereby amended by adding the following new Section 2A thereto,
immediately following Section 2 thereof, to read as follows:

     "2A. Benefit Freeze. Notwithstanding any provision of the Plan (or the
Guidelines) to the contrary, the Plan shall be frozen as of January 1, 2006. No
additional employees shall become eligible to participate in the Plan after such
date and, except as described in the following sentence, no further Awards or
Target Awards shall be granted or payable hereunder. Notwithstanding the
foregoing, the Compensation Committee may grant Awards for the 2004-2005 Award
Term (which Awards shall have a Grant Date of January 1, 2006). In furtherance
of, but without limiting the foregoing, (a) Awards that have previously been
granted under the Plan (including Awards with a Grant Date of January 1, 2006,
if any) shall continue to be subject to the terms of the Plan until such Awards
have reached their maturity date and the Participants and Beneficiaries have
received payment for the value thereof and (b) the Guidelines that were issued
for the 2005-2006 Award Term are hereby rescinded in their entirety and, as a
result, the Target Awards for the 2005-2006 Award Term that were previously
communicated to the Participants are void and of no further force or effect and
Participants and Beneficiaries shall have no further rights with respect
thereto."

     EXECUTED this 8th day of February, 2006.

                                        NACCO MATERIALS HANDLING GROUP, INC.


                                        By: /s/ Charles A. Bittenbender
                                            ------------------------------------
                                        Title: Assistant Secretary
                                               ---------------------------------

NMHG LTIP/Sr. Amend 1