GLOBAL REACH. LEADlNG TECHNOLOGY. - Zonebourse.com

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Item 3. Legal Proceedings in the normal course We of and our subsidiaries are involved in various unresolved legal matters that arise in the normal course of sbestos and silica-related operations, the most prevalent of which relate to product liability (including over 1,000 asbestos and silica-related cannot be predicted cases), with employment, and commercial matters. Although the outcome of these matters cannot be predicted with a quarter-to-quarter certainty basis, and favorable or unfavorable resolutions may affect the results of operations on a quarter-to-quarter basis, he outcome of such based legal upon our case evaluations and availability of insurance coverage we believe that the outcome of such legal ncial position, results and other of matters will not have a materially adverse effect on our consolidated financial position, results of operations, or liquidity. subsidiary in the United On April 19, 2004, Joy South Africa declared a dividend to our wholly owned subsidiary in the United accordance with the Kingdom South in the amount of approximately $46.0 million. As part of the transaction and in accordance with the South In August 2004 the African South Tax Act (“Act”), Joy South Africa was not required to pay tax on the transaction. In August 2004 the South erpretation of the African Act and Revenue Service (“SARS”) stated that it disagreed with the Joy South Africa interpretation of the Act and t from SARS, which would as of attempt to collect this tax. In September 2005, we received a notice of assessment from SARS, which as of he fourth quarter October of fiscal 2007 was approximately $8.0 million, including interest and penalties. During the fourth quarter of fiscal f a negative outcome 2007, and we recorded a liability related to the assessment based on the increased probability of a negative outcome and ed agreement with representing SARS an amount for which we would agree to settle. In December 2008, we reached agreement with SARS ount. The settlement in the is matter for $4.2 million, inclusive of interest, which approximated the accrued amount. The settlement is expected to be paid in March 2009. cal 2008. Item 4. Submission of Matters to a Vote of Security Holders Page 20 No matters were submitted to a vote of security holders during the fourth quarter of fiscal 2008. Page 20
Executive Officers of the Registrant The following table shows certain information for each of our executive officers, including position with the corporation and business experience. Our executive officers are elected each year at the organizational meeting of our Board of Directors, which follows the annual meeting of shareholders, and at other meetings as appropriate. Current Office and Years as Name Age Principal Occupation Officer Michael W. Sutherlin 62 President and Chief Executive Officer since 2006. Executive Vice President of Joy Global Inc. since 2003 and Chief Executive Officer of Joy Mining Machinery in 2006. President and Chief Operating Officer of Joy Mining Machinery from 2003 to 2006. President and Chief Operating Officer of Varco International, Inc. from 1999 to 2002. 6 Michael S. Olsen 57 Executive Vice President, Chief Financial Officer and Treasurer since December 2008. Senior Vice President of Finance of Joy Mining Machinery since February 2003 and Vice President and Chief Accounting Officer from July 2006 to December 2008. Dennis R. Winkleman 58 Executive Vice President Human Resources since 2000. Mark E. Readinger 55 Executive Vice President of Joy Global Inc. and President and Chief Operating Officer of P&H Mining Equipment since 2002. Edward L. Doheny II 47 Executive Vice President of Joy Global Inc., and President and Chief Operating Officer of Joy Mining Machinery since 2006. Prior to joining Joy Global, Mr. Doheny had been with Ingersoll-Rand Corporation, where he was President of Industrial Technologies from 2003 to 2005, President of Shared Services in 2003 and President of Air Solutions Group from 2000 to 2003. Sean D. Major 44 Executive Vice President, General Counsel and Secretary since October 2007. Executive Vice President and General Counsel from April 2007 to October 2007. Executive Vice President from January 2007 to April 2007. Prior to joining Joy Global, Mr. Major was employed by Johnson Controls, Inc., holding roles of increasing legal responsibility since 1998, most recently as Assistant General Counsel & Assistant Secretary. 2 8 6 3 2 Page 21
Page 1 and 2: global reach. leading technology. j
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Page 5 and 6: than doubled from 2007, while after
Page 7 and 8: future revenues. The ultra-class dr
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Page 39 and 40: is adjusted appropriately for futur
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Joy Global Inc. Notes to Consolidat
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22. Subsidiary Guarantors Joy Globa
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