EXHIBIT 10.6
AMENDMENT TO EMPLOYEE EXCESS BENEFITS AGREEMENT
This Amendment made this ____ day of _____ 2000 by and
between _______________________ ("Employee") and THE TIMKEN
COMPANY ("Timken"), an Ohio corporation having it principal
offices at Canton, Ohio.
WHEREAS, Employee has been employed by Timken since
____ and is currently serving as
__________________________________________________ in a
capable and efficient manner; and
WHEREAS, Timken is amending the 1984 Retirement Plan
for Salaried Employees to change the way in which earnings
are calculated for participants, as of March 31, 2000; and
WHEREAS, Employee and Timken had entered into an
Employee Excess Benefits Agreement on _____________.
NOW, therefore, the parties amend the employee Excess
Benefits Agreement as follows:
____ If Employee is an elected officer of Timken
and retires at age 62 (or at Timken's discretion
retires earlier or later than age 62 but not later than
age 65), he shall be entitled to have his benefits
hereunder calculated under the 1.75% formula in the
Retirement Plans, unreduced for benefit commencement on
or after age 62. For purposes of calculating his
benefit under the 1.75% formula, Employee's average
yearly earnings shall mean his average yearly total
earnings received from Timken for the four twelve-month
periods, whether or not consecutive, during which he
was a participant which give the highest average during
the 10-year period immediately preceding his retirement
date.
Except as it is hereby amended, the Employee Excess
Benefits Agreement executed _____________ shall remain in
full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed
this Agreement in duplicate this ____ day of ______, 2000.
________________________________
("Employee")
THE TIMKEN COMPANY
By:
_____________________________
Xxxxxxx X. Xxxxx, Senior Vice
President--Human Resources,
Purchasing & Communications
