COLUMBUS MCKINNON CORPORATION THRIFT 401(K) PLAN
AMENDMENT NO. 7 OF THE 1998 PLAN RESTATEMENT
Columbus McKinnon Corporation (the "Corporation") hereby amends the Columbus McKinnon Corporation
Thrift 401(K) Plan (the "Plan"), as amended and restated in its entirety effective January 1, 1998, and as further
amended by Amendment Nos. 1through 6, as permitted under Section 14.1 of the Plan, as follows:
1. Section 3.2, entitled "Matching Contributions, is amended effective May 1, 2003 by adding new Section 3.2
(e) to read as follows:
"(E) SUSPENSION OF MATCHING CONTRIBUTIONS. NOTWITHSTANDING ANYTHING TO THE
CONTRARY IN THIS SECTION 3.2, NO MATCHING CONTRIBUTIONS SHALL BE MADE ON
ACCOUNT OF SALARY REDUCTION CONTRIBUTIONS THAT ARE MADE WITH RESPECT TO
PAYROLL PERIODS BEGINNING ON OR AFTER MAY 1, 2003 AND BEFORE APRIL 1, 2004.
NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS SECTION 3.2, BASE PAY
EARNED BY A PARTICIPANT ON AND AFTER MAY 1, 2003 AND BEFORE APRIL 1, 2004 SHALL
NOT BE TAKEN INTO ACCOUNT IN DETERMINING THE MAXIMUM AMOUNT OF MATCHING
CONTRIBUTIONS MADE ON BEHALF OF THE PARTICIPANT DURING ANY PLAN YEAR."
2. Schedule D, entitled "Special Rules for Divested Employees" , is amended effective March 31, 2003, by
adding new Section SD.2 to read as follows:
SD.2 SALE OF STOCK OF LICO STEEL, INC.
(A) TRANSFER OF ACCOUNT BALANCES TO NEW PLAN. NOTWITHSTANDING
SECTION 8.1 NOR ANY OTHER SECTION OF THE PLAN, ALL ACCOUNT BALANCES OF
PARTICIPANTS ("TRANSFERRED EMPLOYEES") IN THE PLAN WHO CEASE TO BE EMPLOYEES
IN CONNECTION WITH THE SALE OF LICO STEEL, INC. BY THE CORPORATION (OR ITS
AFFILIATE) TO LICO, INC. OR ANOTHER UNRELATED ENTITY ("BUYER") SHALL BE
TRANSFERRED FROM THE PLAN TO A NEW 401(K) PLAN (THE "NEW PLAN") ESTABLISHED BY
THE BUYER BY MEANS OF A TRUSTEE-TO-TRUSTEE TRANSFER.
(B) TIME OF TRANSFER. THE TRANSFER OF ACCOUNT BALANCES PURSUANT TO THIS
SECTION SD.2 SHALL OCCUR ON THE DATE OF THE CLOSING OF THE SALE OF STOCK TO
THE BUYER OR SUCH LATER DATE AS SHALL BE DETERMINED BY THE CORP