Description of Additional Executive Severance Benefit for Helmut Wieser (Alcoa Inc.)
Alcoa Inc. has approved an additional severance benefit for Helmut Wieser, effective December 1, 2011. Under this agreement, Mr. Wieser will receive a lump sum payment of $25,000 to cover premiums for the continuation of his estate tax life insurance policy. This payment is in addition to the terms already set out in his existing Executive Severance Agreement. The benefit was approved by Alcoa's Compensation and Benefits Committee.
Exhibit 10(ll)(3)
Description of Additional Executive Severance Benefit for Helmut Wieser, effective December 1, 2011
On December 1, 2011, the Compensation and Benefits Committee of the Board of Directors of Alcoa Inc. (“Alcoa”) approved the following additional amount to be paid under the terms of the Executive Severance Agreement, as amended and restated effective December 8, 2008, between Alcoa and Helmut Wieser:
| • | a lump sum payment of $25,000 to cover the premiums associated with the continuation of an estate tax life insurance policy for Mr. Wieser. |
