Second Amendment to AK Steel Corporation Annual Management Incentive Plan (2015)
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Summary
This amendment, effective January 22, 2015, modifies the AK Steel Corporation Annual Management Incentive Plan. It allows performance awards to be granted for meeting safety and/or quality goals, even if the net income threshold is not met for the performance period. The amendment was executed by AK Steel Holding Corporation and AK Steel Corporation, represented by their Executive Vice President and Chief Legal and Administrative Officer.
EX-10.1 2 exhibit101-2015q1amendment.htm EXHIBIT 10.1 - AMENDMENT TO MANAGEMENT INCENTIVE PLAN Exhibit 10.1 - 2015 Q1 AMENDMENT TO MANAGEMENT INCENTIVE PLAN
EXHIBIT 10.1
SECOND AMENDMENT
TO THE
AK STEEL CORPORATION
ANNUAL MANAGEMENT INCENTIVE PLAN
(as amended and restated effective as of October 18, 2007)
Pursuant to the power of amendment reserved to AK Steel Corporation under the terms of Section 14 of the AK Steel Corporation Annual Management Incentive Plan (as amended and restated as of October 18, 2007) (the “Plan”), the Plan is hereby amended as follows, effective as of January 22, 2015:
The last sentence of the first paragraph in Section 6 is changed in its entirety to read as follows:
“Notwithstanding the foregoing, Performance Awards may be granted with respect to the threshold goals for safety and/or quality even if the threshold goal for net income for the Performance Period is not achieved.”
IN WITNESS WHEREOF, AK Steel Corporation has caused this Second Amendment to the Plan to be executed this 20th day of February, 2015.
AK STEEL HOLDING CORPORATION
AK STEEL CORPORATION
By:/s/ David C. Horn
David C. Horn, Executive Vice President, Chief Legal and Administrative Officer, and Secretary
