AMENDMENT TO THE<\/p>\n
ALCOA DEFERRED COMPENSATION PLAN<\/p>\n
Due to the restructuring of the Alcoa Retirement Savings Plan program, and to
\ncomply with legally required changes, the plan is amended as follows:<\/p>\n
1. The definition of Additional Salary Reduction Credits is amended by
\nadding the following sentence:<\/p>\n
Effective January 1, 2011, a Participant who is authorized by the Benefits
\nManagement Committee may elect to reduce his or her salary up to a whole
\npercentage of not more than 25%; provided however that a Participant who has
\nelected and is contributing a portion of his or her Salary under the Savings
\nPlan, may not elect to defer any percentage of said Salary as an Additional
\nSalary Reduction Credit under this Plan, except as otherwise provided in
\nSection 3.2 but only up to the foregoing limitation.<\/p>\n
2. The definition of “Nonforfeitable Circumstance” is amended by adding
\nthe following sentence:<\/p>\n
Effective January 1, 2011, all Matching Company Credits and Employer
\nContribution Credits become fully vested and the term “Nonforfeitable
\nCircumstances” ceases to apply to the Plan.<\/p>\n
3. Effective January 1, 2011, the definition of “Savings Plan” is amended
\nas follows:<\/p>\n
“Savings Plan” means the Alcoa Retirement Savings Plan for Salaried
\nEmployees, the Alcoa Retirement Savings Plan for Hourly Non-Bargaining
\nEmployees, the Alcoa Retirement Savings Plan for Mill Products Employees, and\/or
\nthe Alcoa Retirement Savings Plan for Fastening Systems and Commercial Windows
\nEmployees, as they are now in existence or as hereafter amended.<\/p>\n
4. The definition of “Salary Reduction Credits” is amended by adding the
\nfollowing at the end of the last sentence: “except as otherwise provided in
\nSection 3.2 but only up to the foregoing limitation.”<\/p>\n
5. Section 3.1 is amended by adding the following sentence:<\/p>\n<\/p>\n
Effective January 1, 2011, the figure 20% in the foregoing sentence is
\nrevised to read 25% for Participants whose Additional Salary Reduction Credit
\nlimitation has been increased to 25% by the Benefits Management Committee.<\/p>\n
6. Section 3.2 is amended by adding the following:<\/p>\n
A Participant who is in a job grade 24 or above, who has elected and is
\ncontributing a portion of his or her Salary under the Savings Plan, but has been
\nlimited by Internal Revenue Code limits on their contributions to the Savings
\nPlan, and who has elected to make a “spill-over” election to this Plan will be
\ncredited with Salary Reduction Credits or Additional Salary Reduction Credits,
\nas applicable, up to the amount that their election to the Savings Plan was
\nlimited.<\/p>\n
7. Section 8.2 is amended by adding the following sentence:<\/p>\n
Effective January 1, 2011, the term “as soon as administratively practical” 8. Section 8.4 is amended by adding the following sentence:<\/p>\n Effective January 1, 2011, the term “as soon as administratively practical” 9. In all other respects, the Plan is ratified and confirmed.<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6617],"corporate_contracts_industries":[9453],"corporate_contracts_types":[9539,9542],"class_list":["post-38513","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-alcoa-inc","corporate_contracts_industries-manufacturing__fabrication","corporate_contracts_types-compensation","corporate_contracts_types-compensation__deferred"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38513"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38513"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38513"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nmeans within the later of: (a) 90 days of Retirement or (b) 2 1<\/sup>\/2
\nmonths after the year of Retirement.<\/p>\n
\nmeans within the later of: (a) 90 days of Death or (b) 2 1<\/sup>\/2 months
\nafter the year of Death.<\/p>\n