1
Exhibit 17
FIRST AMENDMENT TO
LIMITED PARTNERSHIP AGREEMENT
THIS FIRST AMENDMENT TO THE LIMITED PARTNERSHIP AGREEMENT (this
"Amendment") is made as of the 30th day of December, 1996, by and among ▇▇▇▇▇▇
MANAGEMENT, INC., a Georgia corporation, as General Partner, and the Persons set
forth on SCHEDULE A to the Limited Partnership Agreement of CTR Family
Associates, L.P. dated as of November 14, 1996 (the "Partnership Agreement").
Recitals
--------
A. The Partners desire to amend Schedule A to the Partnership Agreement to
reflect that ▇▇▇▇▇ ▇. ▇. ▇▇▇▇▇▇ ("▇▇▇. ▇▇▇▇▇▇") has subscribed for
additional Interests, paying for such additional Interests with 46,000
shares of NACCO Class B Common Stock received by ▇▇▇. ▇▇▇▇▇▇ in exchanges
for NACCO Class A Common Stock completed after the formation of the
Partnership but contemplated prior to such formation. These transactions
complete ▇▇▇. ▇▇▇▇▇▇'▇ original plan to contribute all of her holdings of
NACCO Class B Common Stock to the Partnership for common management
purposes.
B. The Partners desire to further amend Schedule A to the Partnership
Agreement to reflect that ▇▇▇. ▇▇▇▇▇▇ has transferred some Interests as
gifts to existing Limited Partners.
C. The Partners desire to amend the Partnership Agreement to permit the
Managing Partner, acting without further consent of the Partners, to amend
Schedule A and Schedule B to the Partnership Agreement as may be necessary
to reflect transfers of Interests and the addition of new Partners.
Agreement
---------
NOW THEREFORE, the parties hereto agree as follows:
1. Capitalized terms not otherwise defined herein shall have the meaning set
forth in the Partnership Agreement.
2. Schedule A to the Partnership Agreement be and hereby is replaced in its
entirety with the attached Schedule A.
3. Section 11.7 of the Partnership Agreement is amended by inserting at the
end thereof the following sentence:
Notwithstanding the immediately preceding sentence, the
Managing Partner may, without the consent of any other party,
amend Schedule A and Schedule B as necessary to reflect the
addition of any new Partners,
2
any additional capital contributions by existing Partners, or
any gifts or other transfers of Interests permitted under the
terms of this Agreement.
4. This Amendment shall be governed by and construed in accordance with the
laws of the State of Georgia.
5. This Amendment may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one
and the same instrument.
IN WITNESS WHEREOF, the Partners have hereunto set their hands and seals as
of the day and year first above written.
GENERAL PARTNER:
▇▇▇▇▇▇ MANAGEMENT, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇.
-----------------------------------
President
Attest: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
-------------------------------
Secretary
(Corporate Seal)
NATIONAL CITY BANK, as Trustee under
the Agreement dated September 11, 1973,
as supplemented, amended and restated,
with ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, creating a trust
for the benefit of such individual
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, A.V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
-------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ Address: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
------------------------- ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
2
3
NATIONAL CITY BANK, as Trustee under
the Agreement dated December 29, 1967,
as supplemented, amended and restated,
with ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, creating a trust
for the benefit of such individual
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ and /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, A.V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, as Trustee
under the Agreement dated
December 29, 1967, as
supplemented, amended and
restated, with ▇▇▇▇▇▇ ▇.
▇▇▇▇▇▇, creating a trust for
the benefit of such individual
Witness /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
------------------------- ----------------------------------
Witness Address: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇.
------------------------- ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
3
4
NATIONAL CITY BANK, as Trustee
under the Agreement dated July 12,
1967, as supplemented, amended and
restated, with ▇▇▇▇▇ ▇. ▇▇▇▇▇▇,
creating a trust for the benefit of
such individual
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ and /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, A.V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
-------------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., as Trustee
under the Agreement dated
July 12, 1967, as
supplemented, amended and
restated, with ▇▇▇▇▇ ▇.
▇▇▇▇▇▇, creating a trust for
the benefit of such individual
Witness /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇.
---------------------------- -----------------------------------
Witness /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇▇ Address: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇.
---------------------------- ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
4
5
NATIONAL CITY BANK, as Trustee under
the Agreement dated July 1, 1969, as
supplemented, amended and restated,
with Victoire ▇. ▇▇▇▇▇▇ creating a
trust for the benefit of such
individual
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, A.V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
-------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
------------------------- Address: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇.
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
NATIONAL CITY BANK, as Trustee under
the Agreement dated August 30, 1967,
as supplemented, amended and
restated, with ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇.
creating a trust for the benefit of
such individual
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, A.V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
-------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
------------------------- Address: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇.
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
5
6
NATIONAL CITY BANK, as Trustee
under the Agreement dated June
22, 1971, as supplemented,
amended and restated, with
Claiborne ▇. ▇▇▇▇▇▇, creating a
trust for the benefit of such
individual
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, A.V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
-------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
------------------------- Address: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇.
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
NATIONAL CITY BANK, as Trustee
under the Agreement dated August
12, 1974, as supplemented,
amended and restated, with ▇▇▇▇▇
▇. ▇▇▇▇▇▇ creating a trust for
the benefit of such individual
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇, V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ and /s/ ▇▇▇ ▇. ▇▇▇▇▇▇▇, A.V.P.
------------------------- ----------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
-------------------------
Witness /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
------------------------- Address: ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇.
▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
6
7
(AS AMENDED 12/31/96)
SCHEDULE A
PARTNERS / CAPITAL CONTRIBUTIONS
=================================================================================================================================
NAME PROPERTY CONTRIBUTED INTEREST
---- -------------------- --------
=================================================================================================================================
GENERAL PARTNER(S)
=================================================================================================================================
---------------------------------------------------------------------------------------------------------------------------------
▇▇▇▇▇▇ Management, Inc.
---------------------------------------------------------------------------------------------------------------------------------
(a) ▇▇▇▇▇▇ Management Lot 1 2000 0.4234%
---------------------------------------------------------------------------------------------------------------------------------
(b) ▇▇▇▇▇▇ Management Lot 2 2000 0.4234%
---------------------------------------------------------------------------------------------------------------------------------
(c) ▇▇▇▇▇▇ Management Lot 3 2000 0.4234%
---------------------------------------------------------------------------------------------------------------------------------
(d) ▇▇▇▇▇▇ Management Lot 4 2000 0.4234%
---------------------------------------------------------------------------------------------------------------------------------
Total for Ranking Management, Inc.: 8,000 Shares 1.6936%
=================================================================================================================================
LIMITED PARTNERS
=================================================================================================================================
---------------------------------------------------------------------------------------------------------------------------------
▇▇▇▇▇ ▇.▇. ▇▇▇▇▇▇
---------------------------------------------------------------------------------------------------------------------------------
(a) C.L.T. ▇▇▇▇▇▇ Lot 1 135,247 28.6315%
---------------------------------------------------------------------------------------------------------------------------------
(b) C.L.T. ▇▇▇▇▇▇ Lot 2 30,000 6.3509%
---------------------------------------------------------------------------------------------------------------------------------
(c) C.L.T. ▇▇▇▇▇▇ Lot 3 16,000 3.3872%
---------------------------------------------------------------------------------------------------------------------------------
Total for ▇▇▇▇▇ ▇.▇. ▇▇▇▇▇▇ 181,247 Shares 38.3696%
---------------------------------------------------------------------------------------------------------------------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇.
---------------------------------------------------------------------------------------------------------------------------------
(a) A.M. ▇▇▇▇▇▇ Lot 1 800 .1694%
---------------------------------------------------------------------------------------------------------------------------------
(b) A.M. ▇▇▇▇▇▇ Lot 2 17,570 3.7195%
---------------------------------------------------------------------------------------------------------------------------------
(c) A.M. ▇▇▇▇▇▇ Lot 3 59,428 12.5808%
---------------------------------------------------------------------------------------------------------------------------------
(d) A.M. ▇▇▇▇▇▇ Lot 4 25,000 5.2925%
---------------------------------------------------------------------------------------------------------------------------------
Total for ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇.: 102,798 Shares 21.7621%
Page 1 of 2
8
SCHEDULE A (CONTINUED)
=================================================================================================================================
NAME PROPERTY CONTRIBUTED INTEREST
---- -------------------- --------
---------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------------------------------------------------------------------------------------------------------
(a) ▇.▇. ▇▇▇▇▇▇ Lot 1 800 0.1694%
---------------------------------------------------------------------------------------------------------------------------------
(b) ▇.▇. ▇▇▇▇▇▇ Lot 2 14,400 3.0485%
---------------------------------------------------------------------------------------------------------------------------------
(c) ▇.▇. ▇▇▇▇▇▇ Lot 3 72,998 15.4535%
---------------------------------------------------------------------------------------------------------------------------------
(d) ▇.▇. ▇▇▇▇▇▇ Lot 4 25,000 5.2925%
---------------------------------------------------------------------------------------------------------------------------------
Total for ▇▇▇▇▇ ▇. ▇▇▇▇▇▇: 113,198 Shares 23.9638%
---------------------------------------------------------------------------------------------------------------------------------
Claiborne ▇. ▇▇▇▇▇▇
---------------------------------------------------------------------------------------------------------------------------------
(a) ▇▇ ▇▇▇▇▇▇ Lot 1 8,000 1.6936%
---------------------------------------------------------------------------------------------------------------------------------
(b) ▇▇ ▇▇▇▇▇▇ Lot 2 15,000 3.1755%
---------------------------------------------------------------------------------------------------------------------------------
Total for Claiborne ▇. ▇▇▇▇▇▇: 23,000 Shares 4.8691%
---------------------------------------------------------------------------------------------------------------------------------
▇▇▇▇▇ ▇. ▇▇▇▇▇▇
---------------------------------------------------------------------------------------------------------------------------------
(a) ▇▇ ▇▇▇▇▇▇ Lot 1 8,000 1.6936%
---------------------------------------------------------------------------------------------------------------------------------
(b) ▇▇ ▇▇▇▇▇▇ Lot 2 25,000 5.2925%
---------------------------------------------------------------------------------------------------------------------------------
Total for ▇▇▇▇▇ ▇. ▇▇▇▇▇▇: 33,000 Shares 6.9860%
---------------------------------------------------------------------------------------------------------------------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ 8,000 Shares 1.6936%
---------------------------------------------------------------------------------------------------------------------------------
Victoire ▇. ▇▇▇▇▇▇ 3,128 Shares 0.6622%
---------------------------------------------------------------------------------------------------------------------------------
TOTALS 472,371 Shares 100%
=================================================================================================================================
Page 2 of 2
