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Exhibit 10.47
COLUMBUS McKINNON CORPORATION
MONTHLY RETIREMENT BENEFIT PLAN
Amendment No. 9 of the 1998 Plan Restatement
Columbus
McKinnon Corporation (the "Company") hereby amends the
Columbus McKinnon Corporation Monthly Retirement Benefit Plan
(the "Plan"), as amended and restated in its entirety
effective April 1, 1998, and as further amended by Amendment
Nos. 1through 9, as permitted under Section 10.1 of the Plan,
in order to comply with Section 1004 of the Pension Protection
Act of 2006, as follows:
1.
Section 5.2, entitled “Form of
Benefit”, is amended effective April 1, 2008 by revising
Section 5.2(c)(2) to read as follows:
“(2) (A) Option
2A -- 75%
Joint and Survivor . A benefit similar to
the 50% Joint and Survivor benefit described as Option 1, except
that the survivor annuity is equal to 75% of the annuity payable to
the Participant.
(B) Option 2B-- 66-2/3% Joint and
Survivor . A benefit similar to the 50%
Joint and Survivor benefit described as Option 1, except that the
survivor annuity is equal to 66-2/3% of the annuity payable to the
Participant.”
2.
Appendix A, Table 1, entitled “Table
of Actuarial Equivalent Factors to Be Used in Converting the
Normal Life Annuity Form of Payment to a Joint
and
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