Summary of PORTEC RAIL PRODUCTS INC

Item 1.01. Entry into a Material Definitive Agreement.

On January 30, 2008, Portec Rail Products, Inc. (the "Registrant") granted stock options to the following "Named Executive Officers" (as defined by Item 402(a)(3) of Securities and Exchange Commission Regulation S-K) pursuant to the Registrant's 2006 Stock Option Plan. Options have an exercise price of $9.68 and vest equally over 5 years. The forms of award documents are incorporated by reference to Exhibit 10.1 of the Current Report of Form 8-K as filed with the SEC on January 18, 2007.

        Name                              Title                    Stock Options
------------------------   --------------------------------------  -------------

Richard J. Jarosinski      President and Chief Executive Officer           5,000
Konstantinos Papazoglou    Executive Vice President and Chief              5,000
                           Operating Officer
John N. Pesarsick          Chief Financial Officer                         5,000


Item 9.01         Financial Statements and Exhibits
                  ---------------------------------

(a)               Financial statements of businesses acquired. Not Applicable.

(b)               Pro forma financial information. Not Applicable.

(c)               Shell company transactions: Not Applicable.

(d)               Exhibits.

                  The following Exhibit is attached as part of this report:

                  10.1     Form of Portec Rail Products, Inc. 2006 Stock Option
                           Plan Stock Option Agreement (Employees) (incorporated
                           by reference to Exhibit 10.1 of the Current Report of
                           Form 8-K as filed with the SEC on January 18, 2007)