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Exhibit 12
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 XXXXXX 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 Xxxxx X. X. Xxxxxx ("Xxx. Xxxxxx") has subscribed for
additional Interests, paying for such additional Interests with 46,000
shares of NACCO Class B Common Stock received by Xxx. Xxxxxx in exchanges
for NACCO Class A Common Stock completed after the formation of the
Partnership but contemplated prior to such formation. These transactions
complete Xxx. Xxxxxx'x 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 Xxx. Xxxxxx 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,
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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:
XXXXXX MANAGEMENT, INC.
By: /s/Xxxxxx X. Xxxxxx, Xx.
----------------------------------
President
Attest: /s/Xxxxx X. Xxxxxx
------------------------------
Secretary
(Corporate Seal)
NATIONAL CITY BANK,
as Trustee under the
Agreement dated
September 11, 1973,
as supplemented,
amended and
restated, with Xxxxx
X. Xxxxxx, creating
a trust for the
benefit of such
individual
Witness /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx, V.P.
-------------------------- ---------------------------
Witness /s/ Xxxxx X. Xxxxxxx and /s/ Xxx X. Xxxxxxx, A.V.P.
-------------------------- ---------------------------
Witness /s/ Xxxxx X. Xxxxxxxxx
--------------------------
Witness /s/ Xxxxx X. Xxxxxxx Address: 0000 Xxxx Xxxxx Xxxxxx
-------------------------- Xxxxxxxxx, XX 00000
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NATIONAL CITY BANK, as
Trustee under the
Agreement dated December
29, 1967, as
supplemented, amended and
restated, with Xxxxxx X.
Xxxxxx, creating a trust
for the benefit of such
individual
Witness /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx, V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
Witness /s/ Xxxxx X. Xxxxxxxxx and /s/ Xxx X. Xxxxxxx, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
XXXXXX X. XXXXXX, as Trustee
under the Agreement dated
December 29, 1967, as
supplemented, amended and
restated, with Xxxxxx X.
Xxxxxx, creating a trust for
the benefit of such individual
Witness /s/Xxxxxx X. Xxxxxx
-------------------------- -----------------------------------
Witness Address: 0000 Xxxx Xxxxx Xx.
-------------------------- Xxxxxxxxx, XX 00000
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NATIONAL CITY BANK, as
Trustee under the
Agreement dated July 12,
1967, as supplemented,
amended and restated,
with Xxxxx X. Xxxxxx,
creating a trust for the
benefit of such
individual
Witness /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx, V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
Witness /s/ Xxxxx X. Xxxxxxxxx and /s/ Xxx X. Xxxxxxx, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
XXXXXX X. XXXXXX, XX., as Trustee
under the Agreement dated
July 12, 1967, as
supplemented, amended and
restated, with Xxxxx X.
Xxxxxx, creating a trust for
the benefit of such individual
Witness /s/ Xxxxxxx X. Xxxxxx /s/Xxxxxx X. Xxxxxx, Xx.
---------------------------- ----------------------------
Witness /s/ Xxxxxxx X. Xxxxxxxxxxxx Address: 0000 Xxxx Xxxxx Xx.
---------------------------- Xxxxxxxxx, XX 00000
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NATIONAL CITY BANK, as Trustee under
the Agreement dated July 1, 1969, as
supplemented, amended and restated,
with Victoire X. Xxxxxx creating a
trust for the benefit of such
individual
Witness /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx, V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
Witness /s/ Xxxxx X. Xxxxxxxxx and /s/ Xxx X. Xxxxxxx, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------- Address: 0000 Xxxx Xxxxx Xx.
Xxxxxxxxx, XX 00000
NATIONAL CITY BANK, as Trustee under
the Agreement dated August 30, 1967, as
supplemented, amended and restated, with
Xxxxxx X. Xxxxxx, Xx. creating a trust
for the benefit of such individual
Witness /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx, V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
Witness /s/ Xxxxx X. Xxxxxxxxx and /s/ Xxx X. Xxxxxxx, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
----------------------------- Address: 0000 Xxxx Xxxxx Xx.
Xxxxxxxxx, XX 00000
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NATIONAL CITY BANK,
as Trustee under the
Agreement dated June
22, 1971, as
supplemented,
amended and
restated, with
Claiborne X. Xxxxxx,
creating a trust for
the benefit of such
individual
Witness /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx, V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
Witness /s/ Xxxxx X. Xxxxxxxxx and /s/ Xxx X. Xxxxxxx, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
----------------------- Address: 0000 Xxxx Xxxxx Xx.
Xxxxxxxxx, XX 00000
NATIONAL CITY BANK, as
Trustee under the
Agreement dated August
12, 1974, as
supplemented, amended and
restated, with Xxxxx X.
Xxxxxx creating a trust
for the benefit of such
individual
Witness /s/ Xxxxx X. Xxxxxxxxx By: /s/ Xxxxx X. Xxxxxx, V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
--------------------------
Witness /s/ Xxxxx X. Xxxxxxxxx and /s/ Xxx X. Xxxxxxx, A.V.P.
-------------------------- ---------------------------------
Witness /s/ Xxxxx X. Xxxxxxx
------------------------ Address: 0000 Xxxx Xxxxx Xx.
Xxxxxxxxx, XX 00000
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(AS AMENDED 12/31/96)
SCHEDULE A
PARTNERS / CAPITAL CONTRIBUTIONS
=================================================================================================================================
NAME PROPERTY CONTRIBUTED INTEREST
---- -------------------- --------
=================================================================================================================================
GENERAL PARTNER(S)
=================================================================================================================================
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Xxxxxx Management, Inc.
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(a) Xxxxxx Management Lot 1 2000 0.4234%
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(b) Xxxxxx Management Lot 2 2000 0.4234%
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(c) Xxxxxx Management Lot 3 2000 0.4234%
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(d) Xxxxxx Management Lot 4 2000 0.4234%
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Total for Ranking Management, Inc.: 8,000 Shares 1.6936%
=================================================================================================================================
LIMITED PARTNERS
=================================================================================================================================
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Xxxxx X.X. Xxxxxx
---------------------------------------------------------------------------------------------------------------------------------
(a) C.L.T. Xxxxxx Lot 1 135,247 28.6315%
---------------------------------------------------------------------------------------------------------------------------------
(b) C.L.T. Xxxxxx Lot 2 30,000 6.3509%
---------------------------------------------------------------------------------------------------------------------------------
(c) C.L.T. Xxxxxx Lot 3 16,000 3.3872%
---------------------------------------------------------------------------------------------------------------------------------
Total for Xxxxx X.X. Xxxxxx 181,247 Shares 38.3696%
---------------------------------------------------------------------------------------------------------------------------------
Xxxxxx X. Xxxxxx, Xx.
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(a) A.M. Xxxxxx Lot 1 800 .1694%
---------------------------------------------------------------------------------------------------------------------------------
(b) A.M. Xxxxxx Lot 2 17,570 3.7195%
---------------------------------------------------------------------------------------------------------------------------------
(c) A.M. Xxxxxx Lot 3 59,428 12.5808%
---------------------------------------------------------------------------------------------------------------------------------
(d) A.M. Xxxxxx Lot 4 25,000 5.2925%
---------------------------------------------------------------------------------------------------------------------------------
Total for Xxxxxx X. Xxxxxx Xx.: 102,798 Shares 21.7621%
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SCHEDULE A (CONTINUED)
=================================================================================================================================
NAME PROPERTY CONTRIBUTED INTEREST
---- -------------------- --------
=================================================================================================================================
---------------------------------------------------------------------------------------------------------------------------------
Xxxxx X. Xxxxxx
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(a) X.X. Xxxxxx Lot 1 800 0.1694%
---------------------------------------------------------------------------------------------------------------------------------
(b) X.X. Xxxxxx Lot 2 14,400 3.0485%
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(c) X.X. Xxxxxx Lot 3 72,998 15.4535%
---------------------------------------------------------------------------------------------------------------------------------
(d) X.X. Xxxxxx Lot 4 25,000 5.2925%
---------------------------------------------------------------------------------------------------------------------------------
Total for Xxxxx X. Xxxxxx: 113,198 Shares 23.9638%
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Claiborne X. Xxxxxx
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(a) XX Xxxxxx Lot 1 8,000 1.6936%
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(b) XX Xxxxxx Lot 2 15,000 3.1755%
---------------------------------------------------------------------------------------------------------------------------------
Total for Claiborne X. Xxxxxx: 23,000 Shares 4.8691%
---------------------------------------------------------------------------------------------------------------------------------
Xxxxx X. Xxxxxx
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(a) XX Xxxxxx Lot 1 8,000 1.6936%
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(b) XX Xxxxxx Lot 2 25,000 5.2925%
---------------------------------------------------------------------------------------------------------------------------------
Total for Xxxxx X. Xxxxxx: 33,000 Shares 6.9860%
---------------------------------------------------------------------------------------------------------------------------------
Xxxxxx X. Xxxxxx 8,000 Shares 1.6936%
---------------------------------------------------------------------------------------------------------------------------------
Victoire X. Xxxxxx 3,128 Shares 0.6622%
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TOTALS 472,371 Shares 100%
=================================================================================================================================
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