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<TITLE>sv8</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>As filed with the Securities and Exchange Commission on May&nbsp;19, 2010.</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Registration No.</B>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt">
<B>REGISTRATION STATEMENT<BR>

Under The Securities Act of 1933</B></DIV>


<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>NACCO INDUSTRIES, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>34-1505819</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction <BR>
of Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>5875 Landerbrook Drive, Cleveland, OH 44124</B><BR>

(Address of Principal Executive Offices Including Zip Code)<BR><br>

<B>NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan</B><BR>

(Full Title of the Plan)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>Charles A. Bittenbender, Esq.<BR>

Vice President, General Counsel and Secretary<BR>

NACCO Industries, Inc.<BR>

5875 Landerbrook Drive<BR>

Cleveland, Ohio 44124-4017<BR>

(440)&nbsp;449-9600</B><BR>

(Name, Address and Telephone Number of Agent For Service)</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of
&#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the
Exchange Act.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT style="white-space: nowrap">Large accelerated filer <FONT style="font-family: Wingdings">&#111;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="white-space: nowrap">Accelerated filer <FONT style="font-family: Wingdings">&#254;</FONT></FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="white-space: nowrap">Non-accelerated filer <FONT style="font-family: Wingdings">&#111;</FONT></FONT>
<FONT style="white-space: nowrap">(Do not check if a smaller reporting company)</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="white-space: nowrap">Smaller reporting company <FONT style="font-family: Wingdings">&#111;</FONT></FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">CALCULATION OF REGISTRATION FEE
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">Title of</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed Maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">Securities to</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount to be</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Offering</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Aggregate</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Registration</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center">be Registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 0px solid #000000">Registered <SUP style="FONT-size: 85%; vertical-align: text-top">(1)(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Price Per Share <SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Offering Price <SUP style="FONT-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Fee</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Class&nbsp;A Common
Stock, par value
$1.00 per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 2px solid #000000">174,044</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">101.80</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">17,717,679.20</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">1,263.27</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Represents maximum number of shares of Class&nbsp;A Common Stock of NACCO Industries, Inc.
(the &#147;Registrant&#148;), par value $1.00 per share (&#147;Class&nbsp;A Common Stock&#148;), issuable pursuant
to the NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan (the
&#147;Plan&#148;), being registered hereon.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416 of the Securities Act of 1933 (the &#147;Securities Act&#148;), this
Registration Statement also covers such additional shares of Class&nbsp;A Common Stock as may
become issuable pursuant to the anti-dilution provisions of the Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for calculating the amount of the registration fee, pursuant to
paragraphs (c)&nbsp;and (h)&nbsp;of Rule&nbsp;457 of the General Rules and Regulations under the
Securities Act, on the basis of the average of the high and low sale prices of such
securities on the New York Stock Exchange on May&nbsp;12, 2010, within five business days prior
to filing.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>










<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item 8. Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003"> EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="l39799exv23w1.htm">EX-23.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="l39799exv24w1.htm">EX-24.1</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The contents of the registration statement on Form S-8 (Registration No.&nbsp;333-139268), as
filed with the Securities and Exchange Commission on December&nbsp;12, 2006 to register shares of Class
A Common Stock to be issued under the Plan, are hereby incorporated by reference in this
Registration Statement. This Registration Statement on Form S-8 is filed for the purpose of
registering an additional 174,044 shares of Class&nbsp;A Common Stock under the Plan, such that when
added to the remaining number of shares of Class&nbsp;A Common Stock previously registered under the
Securities Act equals a total of 300,000 shares of Class&nbsp;A Common Stock registered under the
Securities Act and available for issuance under the Plan.
</DIV>
<!-- link1 "PART II" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<!-- link2 "Item 8. Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.
Exhibits.</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restated Certificate of Incorporation of the Registrant is incorporated herein by reference
to Exhibit&nbsp;3(i) to the Registrant&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 1992, Commission File Number 1-9172.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated By-laws of the Registrant are incorporated herein by reference to
Exhibit&nbsp;3.1 to the Registrant&#146;s Quarterly Report on Form&nbsp;10-Q, filed on August&nbsp;7, 2008,
Commission File Number 1-9172.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stockholders&#146; Agreement, dated as of March&nbsp;15, 1990, among the signatories thereto, the
Registrant and Ameritrust Company National Association, as depository, is incorporated herein
by reference to Exhibit&nbsp;2 to the Schedule&nbsp;13D filed on March&nbsp;29, 1990 with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of April&nbsp;6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit&nbsp;4 to Amendment No.&nbsp;1 to the Schedule&nbsp;13D filed on
April&nbsp;11, 1990 with respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of April&nbsp;6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit&nbsp;5 to Amendment No.&nbsp;1 to the Schedule&nbsp;13D filed on
April&nbsp;11, 1990 with respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;17, 1990, among the signatories
thereto, the Registrant, and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Amendment No.&nbsp;2 to the Schedule&nbsp;13D filed on March&nbsp;18,
1991 with respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries,
Inc., Commission File Number 5-38001.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;14, 1996, among the signatories
thereto, the Registrant, the New Participating Stockholders (as defined therein) and Key Bank,
N.A. (successor to Ameritrust Company National Association), as depository, is incorporated
herein by reference to Amendment No.&nbsp;3 to the Schedule&nbsp;13D filed on November&nbsp;26, 1996, with
respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc.,
Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;14, 1996, among the signatories
thereto, the Registrant, the New Participating Stockholders (as defined therein) and Key Bank,
N.A. (successor to Ameritrust Company National Association), as depository, is incorporated
herein by reference to Amendment No.&nbsp;3 to the Schedule&nbsp;13D filed on November&nbsp;26, 1996, with
respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc.,
Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of April&nbsp;9, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No.&nbsp;6 to the Schedule&nbsp;13D filed on March&nbsp;25, 1999, with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;26, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No.&nbsp;6 to the Schedule&nbsp;13D filed on March&nbsp;25, 1999, with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No.&nbsp;7 to the Schedule&nbsp;13D
filed on March&nbsp;30, 2000, with respect to the Class&nbsp;B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.12
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No.&nbsp;7 to the Schedule&nbsp;13D
filed on March&nbsp;30, 2000, with respect to the Class&nbsp;B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of March&nbsp;30, 2000, by and among First Chicago
Trust Company of New York, the Registrant, the Participating Stockholders (as defined therein)
and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No.&nbsp;7 to the Schedule&nbsp;13D filed on March&nbsp;30, 2000, with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.14
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of October&nbsp;31, 2000, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No.&nbsp;8 to the Schedule&nbsp;13D
filed on February&nbsp;14, 2001, with respect to the Class&nbsp;B Common Stock, par value $1.00 per
share, of NACCO Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.15
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of October&nbsp;31, 2000, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;8 to the Schedule&nbsp;13D filed on February&nbsp;14, 2001, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.16
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of February&nbsp;14, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;8 to the Schedule&nbsp;13D filed on February&nbsp;14, 2001, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.17
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;26, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;9 to the Schedule&nbsp;13D filed on February&nbsp;14, 2002, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.18
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of February&nbsp;11, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;9 to the Schedule&nbsp;13D filed on February&nbsp;14, 2002, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.19
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of October&nbsp;24, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;10 to the Schedule&nbsp;13D filed on February&nbsp;14, 2003, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.20
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;30, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;10 to the Schedule&nbsp;13D filed on February&nbsp;14, 2003, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.21
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;28, 2004, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is
incorporated herein by reference to Exhibit 4.23 to the Registration
Statement on Form S-4, filed by the Registrant on January 12, 2005,
Registration Statement No. 333-121996.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.22
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of February&nbsp;7, 2005, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is
incorporated herein by reference to Exhibit 4.24 to the Pre-Effective
Amendment No. 1 to the Registration Statement on <font style="white-space: nowrap">Form S-4,</font> filed by
the Registrant on February 7, 2005, Registration Statement No.
333-121996.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.23
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of March&nbsp;24, 2006, by and among National City
Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and the
New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;15 to the Schedule&nbsp;13D filed on February&nbsp;14, 2008, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of September&nbsp;19, 2007, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;15 to the Schedule&nbsp;13D filed on February&nbsp;14, 2008, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.25
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;13, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;16 to the Schedule&nbsp;13D filed on February&nbsp;13, 2009, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.26
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;26, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;16 to the Schedule&nbsp;13D filed on February&nbsp;13, 2009, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.27
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;27, 2009, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;17 to the Schedule&nbsp;13D filed on February&nbsp;16, 2010, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.28
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan, as amended and
restated, effective as of February&nbsp;1, 2010, is incorporated herein by reference to Appendix&nbsp;A
to the Registrant&#146;s Definitive Proxy Statement, filed by the Registrant on March&nbsp;26, 2010,
Commission File Number 1-9172.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, on May&nbsp;19, 2010.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>NACCO INDUSTRIES, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Charles A. Bittenbender
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Charles A. Bittenbender&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, General Counsel and
Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the date indicated.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Alfred M. Rankin, Jr.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman, President, Chief</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Officer and Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Executive Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Kenneth C. Schilling
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice President and Controller</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Financial and Accounting</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Owsley Brown II
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Dennis W. LaBarre
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top"><DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Richard de J. Osborne</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Michael E. Shannon
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Britton T. Taplin
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
David F. Taplin
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
John F. Turben
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: May&nbsp;19, 2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Eugene Wong
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>This registration statement has been signed on behalf of the above officers and directors by
Charles A. Bittenbender, as attorney-in-fact pursuant to a power of attorney filed as Exhibit&nbsp;24.1
to this registration statement.</TD>
</TR>

</TABLE>



<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">DATED:   May 19, 2010&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"> /s/ Charles A. Bittenbender
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Charles A. Bittenbender&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Attorney-in-Fact&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 " EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restated Certificate of Incorporation of the Registrant is incorporated herein by reference
to Exhibit&nbsp;3(i) to the Registrant&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 1992, Commission File Number 1-9172.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated By-laws of the Registrant are incorporated herein by reference to
Exhibit&nbsp;3.1 to the Registrant&#146;s Quarterly Report on Form&nbsp;10-Q, filed on August&nbsp;7, 2008,
Commission File Number 1-9172.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stockholders&#146; Agreement, dated as of March&nbsp;15, 1990, among the signatories thereto, the
Registrant and Ameritrust Company National Association, as depository, is incorporated herein
by reference to Exhibit&nbsp;2 to the Schedule&nbsp;13D filed on March&nbsp;29, 1990 with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of April&nbsp;6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit&nbsp;4 to Amendment No.&nbsp;1 to the Schedule&nbsp;13D filed on
April&nbsp;11, 1990 with respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of April&nbsp;6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit&nbsp;5 to Amendment No.&nbsp;1 to the Schedule&nbsp;13D filed on
April&nbsp;11, 1990 with respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;17, 1990, among the signatories
thereto, the Registrant, and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Amendment No.&nbsp;2 to the Schedule&nbsp;13D filed on March&nbsp;18,
1991 with respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries,
Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;14, 1996, among the signatories
thereto, the Registrant, the New Participating Stockholders (as defined therein) and Key Bank,
N.A. (successor to Ameritrust Company National Association), as depository, is incorporated
herein by reference to Amendment No.&nbsp;3 to the Schedule&nbsp;13D filed on November&nbsp;26, 1996, with
respect to the Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc.,
Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;14, 1996, among the signatories
thereto, the Registrant, the New</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Participating Stockholders (as defined therein) and Key Bank, N.A.
(successor to Ameritrust Company National Association), as
depository, is incorporated herein by reference to Amendment No.&nbsp;3 to
the Schedule&nbsp;13D filed on November&nbsp;26, 1996, with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries,
Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.9
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of April&nbsp;9, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No.&nbsp;6 to the Schedule&nbsp;13D filed on March&nbsp;25, 1999, with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;26, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No.&nbsp;6 to the Schedule&nbsp;13D filed on March&nbsp;25, 1999, with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.11
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No.&nbsp;7 to the Schedule&nbsp;13D
filed on March&nbsp;30, 2000, with respect to the Class&nbsp;B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.12
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No.&nbsp;7 to the Schedule&nbsp;13D
filed on March&nbsp;30, 2000, with respect to the Class&nbsp;B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of March&nbsp;30, 2000, by and among First Chicago
Trust Company of New York, the Registrant, the Participating Stockholders (as defined therein)
and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No.&nbsp;7 to the Schedule&nbsp;13D filed on March&nbsp;30, 2000, with respect to the
Class&nbsp;B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.14
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of October&nbsp;31, 2000, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No.&nbsp;8 to the Schedule&nbsp;13D
filed on February&nbsp;14, 2001, with respect to the Class&nbsp;B Common Stock, par value $1.00 per
share, of NACCO Industries, Inc., Commission File Number 5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.15
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of October&nbsp;31, 2000, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;8 to the Schedule&nbsp;13D filed on February&nbsp;14, 2001, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.16
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of February&nbsp;14, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;8 to the Schedule&nbsp;13D filed on February&nbsp;14, 2001, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.17
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;26, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;9 to the Schedule&nbsp;13D filed on February&nbsp;14, 2002, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.18
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of February&nbsp;11, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;9 to the Schedule&nbsp;13D filed on February&nbsp;14, 2002, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.19
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of October&nbsp;24, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;10 to the Schedule&nbsp;13D filed on February&nbsp;14, 2003, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.20
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;30, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;10 to the Schedule&nbsp;13D filed on February&nbsp;14, 2003, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.21
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of December&nbsp;28, 2004, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is
incorporated herein by reference to Exhibit 4.23 to the Registration
Statement on Form S-4, filed by the Registrant on January 12, 2005,
Registration Statement No. 333-121996.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.22
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of February&nbsp;7, 2005, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is
incorporated herein by reference to Exhibit 4.24 to the Pre-Effective
Amendment No. 1 to the Registration Statement on Form S-4, filed by
the Registrant on February 7, 2005, Registration Statement No.
333-121996.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.23
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of March&nbsp;24, 2006, by and among National City
Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and the
New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;15 to the Schedule&nbsp;13D filed on February&nbsp;14, 2008, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of September&nbsp;19, 2007, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;15 to the Schedule&nbsp;13D filed on February&nbsp;14, 2008, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.25
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;13, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;16 to the Schedule&nbsp;13D filed on February&nbsp;13, 2009, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.26
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;26, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;16 to the Schedule&nbsp;13D filed on February&nbsp;13, 2009, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.27
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment to Stockholders&#146; Agreement, dated as of November&nbsp;27, 2009, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No.&nbsp;17 to the Schedule&nbsp;13D filed on February&nbsp;16, 2010, with respect to the Class&nbsp;B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.28
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan, as amended and
restated, effective as of February&nbsp;1, 2010, is incorporated herein by reference to Appendix&nbsp;A
to the Registrant&#146;s Definitive Proxy Statement, filed by the Registrant on March&nbsp;26, 2010,
Commission File Number 1-9172.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>



</BODY>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on May 19, 2010.
Registration No.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under The Securities Act of 1933
NACCO INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
34-1505819
(State or Other Jurisdiction
of Incorporation or Organization)
(I.R.S. Employer Identification No.)
5875 Landerbrook Drive, Cleveland, OH 44124
(Address of Principal Executive Offices Including Zip Code)
NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan
(Full Title of the Plan)
Charles A. Bittenbender, Esq.
Vice President, General Counsel and Secretary
NACCO Industries, Inc.
5875 Landerbrook Drive
Cleveland, Ohio 44124-4017
(440) 449-9600
(Name, Address and Telephone Number of Agent For Service)
Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of
"large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.
Large accelerated filer
o
Accelerated filer
þ
Non-accelerated filer
o
(Do not check if a smaller reporting company)
Smaller reporting company
o
CALCULATION OF REGISTRATION FEE
Title of
Proposed Maximum
Proposed Maximum
Amount of
Securities to
Amount to be
Offering
Aggregate
Registration
be Registered
Registered
(1)(2)
Price Per Share
(3)
Offering Price
(3)
Fee
Class A Common
Stock, par value
$1.00 per share
174,044
$
101.80
$
17,717,679.20
$
1,263.27
(1)
Represents maximum number of shares of Class A Common Stock of NACCO Industries, Inc.
(the "Registrant"), par value $1.00 per share ("Class A Common Stock"), issuable pursuant
to the NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan (the
"Plan"), being registered hereon.
(2)
Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this
Registration Statement also covers such additional shares of Class A Common Stock as may
become issuable pursuant to the anti-dilution provisions of the Plan.
(3)
Estimated solely for calculating the amount of the registration fee, pursuant to
paragraphs (c) and (h) of Rule 457 of the General Rules and Regulations under the
Securities Act, on the basis of the average of the high and low sale prices of such
securities on the New York Stock Exchange on May 12, 2010, within five business days prior
to filing.
TABLE OF CONTENTS
PART II
Item 8. Exhibits
SIGNATURES
EXHIBIT INDEX
EX-23.1
EX-24.1
Table of Contents
The contents of the registration statement on Form S-8 (Registration No. 333-139268), as
filed with the Securities and Exchange Commission on December 12, 2006 to register shares of Class
A Common Stock to be issued under the Plan, are hereby incorporated by reference in this
Registration Statement. This Registration Statement on Form S-8 is filed for the purpose of
registering an additional 174,044 shares of Class A Common Stock under the Plan, such that when
added to the remaining number of shares of Class A Common Stock previously registered under the
Securities Act equals a total of 300,000 shares of Class A Common Stock registered under the
Securities Act and available for issuance under the Plan.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8.
Exhibits.
Exhibit Number
Description
4.1
Restated Certificate of Incorporation of the Registrant is incorporated herein by reference
to Exhibit 3(i) to the Registrant's Annual Report on Form 10-K for the fiscal year ended
December 31, 1992, Commission File Number 1-9172.
4.2
Amended and Restated By-laws of the Registrant are incorporated herein by reference to
Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q, filed on August 7, 2008,
Commission File Number 1-9172.
4.3
Stockholders' Agreement, dated as of March 15, 1990, among the signatories thereto, the
Registrant and Ameritrust Company National Association, as depository, is incorporated herein
by reference to Exhibit 2 to the Schedule 13D filed on March 29, 1990 with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.4
Amendment to Stockholders' Agreement, dated as of April 6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit 4 to Amendment No. 1 to the Schedule 13D filed on
April 11, 1990 with respect to the Class B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.
4.5
Amendment to Stockholders' Agreement, dated as of April 6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit 5 to Amendment No. 1 to the Schedule 13D filed on
April 11, 1990 with respect to the Class B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.
4.6
Amendment to Stockholders' Agreement, dated as of November 17, 1990, among the signatories
thereto, the Registrant, and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Amendment No. 2 to the Schedule 13D filed on March 18,
1991 with respect to the Class B Common Stock, par value $1.00 per share, of NACCO Industries,
Inc., Commission File Number 5-38001.
2
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Exhibit Number
Description
4.7
Amendment to Stockholders' Agreement, dated as of November 14, 1996, among the signatories
thereto, the Registrant, the New Participating Stockholders (as defined therein) and Key Bank,
N.A. (successor to Ameritrust Company National Association), as depository, is incorporated
herein by reference to Amendment No. 3 to the Schedule 13D filed on November 26, 1996, with
respect to the Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc.,
Commission File Number 5-38001.
4.8
Amendment to Stockholders' Agreement, dated as of November 14, 1996, among the signatories
thereto, the Registrant, the New Participating Stockholders (as defined therein) and Key Bank,
N.A. (successor to Ameritrust Company National Association), as depository, is incorporated
herein by reference to Amendment No. 3 to the Schedule 13D filed on November 26, 1996, with
respect to the Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc.,
Commission File Number 5-38001.
4.9
Amendment to Stockholders' Agreement, dated as of April 9, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No. 6 to the Schedule 13D filed on March 25, 1999, with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.10
Amendment to Stockholders' Agreement, dated as of December 26, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No. 6 to the Schedule 13D filed on March 25, 1999, with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.11
Amendment to Stockholders' Agreement, dated as of November 30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No. 7 to the Schedule 13D
filed on March 30, 2000, with respect to the Class B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.
4.12
Amendment to Stockholders' Agreement, dated as of November 30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No. 7 to the Schedule 13D
filed on March 30, 2000, with respect to the Class B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.
3
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Exhibit Number
Description
4.13
Amendment to Stockholders' Agreement, dated as of March 30, 2000, by and among First Chicago
Trust Company of New York, the Registrant, the Participating Stockholders (as defined therein)
and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No. 7 to the Schedule 13D filed on March 30, 2000, with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.14
Amendment to Stockholders' Agreement, dated as of October 31, 2000, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No. 8 to the Schedule 13D
filed on February 14, 2001, with respect to the Class B Common Stock, par value $1.00 per
share, of NACCO Industries, Inc., Commission File Number 5-38001.
4.15
Amendment to Stockholders' Agreement, dated as of October 31, 2000, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No. 8 to the Schedule 13D filed on February 14, 2001, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.16
Amendment to Stockholders' Agreement, dated as of February 14, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No. 8 to the Schedule 13D filed on February 14, 2001, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.17
Amendment to Stockholders' Agreement, dated as of December 26, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 9 to the Schedule 13D filed on February 14, 2002, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.18
Amendment to Stockholders' Agreement, dated as of February 11, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 9 to the Schedule 13D filed on February 14, 2002, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4
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Exhibit Number
Description
4.19
Amendment to Stockholders' Agreement, dated as of October 24, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 10 to the Schedule 13D filed on February 14, 2003, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.20
Amendment to Stockholders' Agreement, dated as of December 30, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 10 to the Schedule 13D filed on February 14, 2003, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.21
Amendment to Stockholders' Agreement, dated as of December 28, 2004, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is
incorporated herein by reference to Exhibit 4.23 to the Registration
Statement on Form S-4, filed by the Registrant on January 12, 2005,
Registration Statement No. 333-121996.
4.22
Amendment to Stockholders' Agreement, dated as of February 7, 2005, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is
incorporated herein by reference to Exhibit 4.24 to the Pre-Effective
Amendment No. 1 to the Registration Statement on
Form S-4,
filed by
the Registrant on February 7, 2005, Registration Statement No.
333-121996.
4.23
Amendment to Stockholders' Agreement, dated as of March 24, 2006, by and among National City
Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and the
New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 15 to the Schedule 13D filed on February 14, 2008, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.24
Amendment to Stockholders' Agreement, dated as of September 19, 2007, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 15 to the Schedule 13D filed on February 14, 2008, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.25
Amendment to Stockholders' Agreement, dated as of November 13, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 16 to the Schedule 13D filed on February 13, 2009, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
5
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Exhibit Number
Description
4.26
Amendment to Stockholders' Agreement, dated as of November 26, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 16 to the Schedule 13D filed on February 13, 2009, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.27
Amendment to Stockholders' Agreement, dated as of November 27, 2009, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 17 to the Schedule 13D filed on February 16, 2010, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.28
NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan, as amended and
restated, effective as of February 1, 2010, is incorporated herein by reference to Appendix A
to the Registrant's Definitive Proxy Statement, filed by the Registrant on March 26, 2010,
Commission File Number 1-9172.
23.1
Consent of Ernst & Young LLP.
24.1
Power of Attorney.
6
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, on May 19, 2010.
NACCO INDUSTRIES, INC.
By:
/s/ Charles A. Bittenbender
Charles A. Bittenbender
Vice President, General Counsel and
Secretary
Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the date indicated.
*
Date: May 19, 2010
Alfred M. Rankin, Jr.
Chairman, President, Chief
Executive Officer and Director
(Principal Executive Officer)
Date: May 19, 2010
*
Kenneth C. Schilling
Vice President and Controller
(Principal Financial and Accounting
Officer)
*
Date: May 19, 2010
Owsley Brown II
Director
Date: May 19, 2010
*
Dennis W. LaBarre
Director
Date: May 19, 2010
*
Richard de J. Osborne
Director
7
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Date: May 19, 2010
*
Michael E. Shannon
Director
Date: May 19, 2010
*
Britton T. Taplin
Director
Date: May 19, 2010
*
David F. Taplin
Director
Date: May 19, 2010
*
John F. Turben
Director
Date: May 19, 2010
*
Eugene Wong
Director
*
This registration statement has been signed on behalf of the above officers and directors by
Charles A. Bittenbender, as attorney-in-fact pursuant to a power of attorney filed as Exhibit 24.1
to this registration statement.
DATED:   May 19, 2010
By:
/s/ Charles A. Bittenbender
Charles A. Bittenbender
Attorney-in-Fact
8
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EXHIBIT INDEX
Exhibit Number
Description
4.1
Restated Certificate of Incorporation of the Registrant is incorporated herein by reference
to Exhibit 3(i) to the Registrant's Annual Report on Form 10-K for the fiscal year ended
December 31, 1992, Commission File Number 1-9172.
4.2
Amended and Restated By-laws of the Registrant are incorporated herein by reference to
Exhibit 3.1 to the Registrant's Quarterly Report on Form 10-Q, filed on August 7, 2008,
Commission File Number 1-9172.
4.3
Stockholders' Agreement, dated as of March 15, 1990, among the signatories thereto, the
Registrant and Ameritrust Company National Association, as depository, is incorporated herein
by reference to Exhibit 2 to the Schedule 13D filed on March 29, 1990 with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.4
Amendment to Stockholders' Agreement, dated as of April 6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit 4 to Amendment No. 1 to the Schedule 13D filed on
April 11, 1990 with respect to the Class B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.
4.5
Amendment to Stockholders' Agreement, dated as of April 6, 1990, among the signatories
thereto, the Registrant and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Exhibit 5 to Amendment No. 1 to the Schedule 13D filed on
April 11, 1990 with respect to the Class B Common Stock, par value $1.00 per share, of NACCO
Industries, Inc., Commission File Number 5-38001.
4.6
Amendment to Stockholders' Agreement, dated as of November 17, 1990, among the signatories
thereto, the Registrant, and Ameritrust Company National Association, as depository, is
incorporated herein by reference to Amendment No. 2 to the Schedule 13D filed on March 18,
1991 with respect to the Class B Common Stock, par value $1.00 per share, of NACCO Industries,
Inc., Commission File Number 5-38001.
4.7
Amendment to Stockholders' Agreement, dated as of November 14, 1996, among the signatories
thereto, the Registrant, the New Participating Stockholders (as defined therein) and Key Bank,
N.A. (successor to Ameritrust Company National Association), as depository, is incorporated
herein by reference to Amendment No. 3 to the Schedule 13D filed on November 26, 1996, with
respect to the Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc.,
Commission File Number 5-38001.
4.8
Amendment to Stockholders' Agreement, dated as of November 14, 1996, among the signatories
thereto, the Registrant, the New
9
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Exhibit Number
Description
Participating Stockholders (as defined therein) and Key Bank, N.A.
(successor to Ameritrust Company National Association), as
depository, is incorporated herein by reference to Amendment No. 3 to
the Schedule 13D filed on November 26, 1996, with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries,
Inc., Commission File Number 5-38001.
4.9
Amendment to Stockholders' Agreement, dated as of April 9, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No. 6 to the Schedule 13D filed on March 25, 1999, with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.10
Amendment to Stockholders' Agreement, dated as of December 26, 1998, by and among KeyCorp
Shareholder Services, Inc., the Registrant, the Participating Stockholders (as defined
therein) and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No. 6 to the Schedule 13D filed on March 25, 1999, with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.11
Amendment to Stockholders' Agreement, dated as of November 30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No. 7 to the Schedule 13D
filed on March 30, 2000, with respect to the Class B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.
4.12
Amendment to Stockholders' Agreement, dated as of November 30, 1999, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No. 7 to the Schedule 13D
filed on March 30, 2000, with respect to the Class B Common Stock, par value $1.00 per share,
of NACCO Industries, Inc., Commission File Number 5-38001.
10
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Exhibit Number
Description
4.13
Amendment to Stockholders' Agreement, dated as of March 30, 2000, by and among First Chicago
Trust Company of New York, the Registrant, the Participating Stockholders (as defined therein)
and the New Participating Stockholders (as defined therein) is incorporated herein by
reference to Amendment No. 7 to the Schedule 13D filed on March 30, 2000, with respect to the
Class B Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File
Number 5-38001.
4.14
Amendment to Stockholders' Agreement, dated as of October 31, 2000, by and among First
Chicago Trust Company of New York, the Registrant and the Participating Stockholders (as
defined therein) is incorporated herein by reference to Amendment No. 8 to the Schedule 13D
filed on February 14, 2001, with respect to the Class B Common Stock, par value $1.00 per
share, of NACCO Industries, Inc., Commission File Number 5-38001.
4.15
Amendment to Stockholders' Agreement, dated as of October 31, 2000, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No. 8 to the Schedule 13D filed on February 14, 2001, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.16
Amendment to Stockholders' Agreement, dated as of February 14, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is incorporated herein by reference to
Amendment No. 8 to the Schedule 13D filed on February 14, 2001, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.17
Amendment to Stockholders' Agreement, dated as of December 26, 2001, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 9 to the Schedule 13D filed on February 14, 2002, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.18
Amendment to Stockholders' Agreement, dated as of February 11, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 9 to the Schedule 13D filed on February 14, 2002, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
11
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Exhibit Number
Description
4.19
Amendment to Stockholders' Agreement, dated as of October 24, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 10 to the Schedule 13D filed on February 14, 2003, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.20
Amendment to Stockholders' Agreement, dated as of December 30, 2002, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 10 to the Schedule 13D filed on February 14, 2003, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.21
Amendment to Stockholders' Agreement, dated as of December 28, 2004, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholders (as defined therein) is
incorporated herein by reference to Exhibit 4.23 to the Registration
Statement on Form S-4, filed by the Registrant on January 12, 2005,
Registration Statement No. 333-121996.
4.22
Amendment to Stockholders' Agreement, dated as of February 7, 2005, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is
incorporated herein by reference to Exhibit 4.24 to the Pre-Effective
Amendment No. 1 to the Registration Statement on Form S-4, filed by
the Registrant on February 7, 2005, Registration Statement No.
333-121996.
4.23
Amendment to Stockholders' Agreement, dated as of March 24, 2006, by and among National City
Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and the
New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 15 to the Schedule 13D filed on February 14, 2008, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.24
Amendment to Stockholders' Agreement, dated as of September 19, 2007, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 15 to the Schedule 13D filed on February 14, 2008, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.25
Amendment to Stockholders' Agreement, dated as of November 13, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 16 to the Schedule 13D filed on February 13, 2009, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
12
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Exhibit Number
Description
4.26
Amendment to Stockholders' Agreement, dated as of November 26, 2008, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 16 to the Schedule 13D filed on February 13, 2009, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.27
Amendment to Stockholders' Agreement, dated as of November 27, 2009, by and among National
City Bank (Cleveland), the Registrant, the Participating Stockholders (as defined therein) and
the New Participating Stockholder (as defined therein) is incorporated herein by reference to
Amendment No. 17 to the Schedule 13D filed on February 16, 2010, with respect to the Class B
Common Stock, par value $1.00 per share, of NACCO Industries, Inc., Commission File Number
5-38001.
4.28
NACCO Industries, Inc. Executive Long-Term Incentive Compensation Plan, as amended and
restated, effective as of February 1, 2010, is incorporated herein by reference to Appendix A
to the Registrant's Definitive Proxy Statement, filed by the Registrant on March 26, 2010,
Commission File Number 1-9172.
23.1
Consent of Ernst & Young LLP.
24.1
Power of Attorney.
13