COLUMBUS MCKINNON CORPORATION THRIFT 401(K) PLAN
AMENDMENT NO. 11 OF THE 1998 PLAN RESTATEMENT
Columbus McKinnon Corporation (the "Corporation") hereby amends the
Columbus McKinnon Corporation Thrift 401(K) Plan (the "Plan"), as amended and
restated in its entirety effective January 1, 1998, and as further amended by
Amendment Nos. 1through 10, as permitted under Section 14.1 of the Plan, as
follows:
1. Section 3.2, entitled "Matching Contributions", is amended effective
April 1, 2005 by changing Section 3.2(b) to read as follows:
(B) AMOUNT OF CONTRIBUTION. THE MATCHING CONTRIBUTION REQUIRED TO BE
MADE ON BEHALF OF AN EMPLOYEE UNDER SECTION 3.2(A) SHALL BE AN AMOUNT EQUAL TO
50 PERCENT OF THE SALARY REDUCTION CONTRIBUTIONS MADE ON BEHALF OF THE EMPLOYEE
DURING THE PLAN YEAR PROVIDED, HOWEVER, THAT MATCHING CONTRIBUTIONS SHALL NOT
EXCEED 3.0 PERCENT OF THE EMPLOYEE'S BASE PAY FOR THE PLAN YEAR.
2. Section 9.1, entitled "Time of Distribution", is amended effective
March 28, 2005 by changing Section 9.1(c)(1) to read as follows
"(1) LIMITATION ON IMMEDIATE DISTRIBUTION. NOTWITHSTANDING SECTION
9.1(A), IF THE VALUE OF A PARTICIPANT'S ACCOUNTS EXCEEDS $5,000, NO DISTRIBUTION
TO THE PARTICIPANT SHALL BE MADE BEFORE THE PARTICIPANT ATTAINS NORMAL
RETIREMENT AGE UNLESS THE PARTICIPANT CONSENTS IN WRITING TO EARLIER PAYMENT.
EFFECTIVE MARCH 28, 2005, IF THE VALUE OF A PARTICIPANT'S ACCOUNTS EXCEEDS
$1,000, NO DISTRIBUTION TO THE PARTICIPANT SHALL BE MADE BEFORE THE PARTICIPANT
ATTAINS NORMAL RETIREMENT AGE UNLESS THE PARTICIPANT AFFIRMATIVELY ELECTS
WHETHER THE PAYMENT WILL BE MADE DIRECTLY TO THE PARTICIPANT OR TO AN ELIGIBLE
RETIREMENT PLAN AS A DIRECT ROLLOVER. THE COMMITTEE SHALL GIVE THE PARTICIPANT
WRITTEN NOTICE THAT HE NEED NOT ACCEPT DISTRIBUTION PRIOR TO NORMAL RETIREMENT
AGE. THE WRITTEN NOTICE SHALL BE FURNISHED AT LEAST 30 DAYS, BUT NOT MORE THAN
90 DAYS BEFORE THE DATE OF DISTRIBUTION, UNLESS THE PARTICIPANT WAIVES THE
30-DAY NOTICE IN ACCORDANCE WITH APPLICABLE TREASURY RULES. SUCH NOTICE AND
CONSENT SHALL NOT BE REQUIRED AFTER THE DEATH OF THE PARTICIPANT."
IN WITNESS WHEREOF, this instrument of amendment has been executed by a
duly authorized officer of the Corporation this 31st day of March, 2005.
COLUMBUS McKINNON CORPORATION
By /S/ TIMOTHY R. HARVEY
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Title CORPORATE SECRETARY
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