ITEM 8.01 OTHER EVENTS.
On September 10, 2009, the Executive Organization & Compensation Committee (the "Committee") of the Board of Directors of Applied Industrial Technologies, Inc. ("Applied"), adopted the 2010 Management Incentive Plan and issued long-term incentive awards to the executive officers pursuant to, and consistent with the terms of, Applied's 2007 Long-Term Performance Plan.
(1) 2010 Management Incentive Plan. The Committee adopted the fiscal 2010 Management Incentive Plan (the "MIP"), a program for rewarding executive officers for achieving annual goals. The size of the incentive payments depends on the level of performance achieved relative to net income goals set by the Committee. MIP payments can range from 0% to 200% (for outstanding achievement) of the target incentive value the Committee established for each officer. A copy of the updated MIP General Terms is attached as Exhibit 10.01 to this Form.
(2) Long-Term Incentive Awards. The Committee made the following long-term incentive awards to the executive officers:
a. Stock Appreciation Rights. A copy of updated Stock Appreciation Rights Award Terms and Conditions is attached as Exhibit 10.02 to this Form.

b. Restricted Stock Units. A copy of Restricted Stock Units Terms and Conditions is attached as Exhibit 10.03 to this Form.

c. Performance Shares. A copy of Performance Shares Terms and Conditions is attached as Exhibit 10.04 to this Form.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits. 10.01 Management Incentive Plan General Terms 10.02 Stock Appreciation Rights Award Terms and Conditions 10.03 Restricted Stock Units Terms and Conditions 10.04 Performance Shares Terms and Conditions

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