Summary of Relocation Benefits Agreement for Paul D. Thomas and Alcoa Inc.
Alcoa Inc. has agreed to relocate Paul D. Thomas from its Chicago office to its New York office. For the period from January 1, 2005, to December 31, 2006, Alcoa will provide Mr. Thomas with a furnished apartment in New York, including cleaning services, at a cost not exceeding $105,000 per year. Additionally, Alcoa will reimburse Mr. Thomas for any income taxes incurred as a result of receiving this benefit.
Exhibit 10.(ww)
Summary of Relocation Benefits for Paul D. Thomas
| • | An agreement has been reached with Mr. Thomas to relocate him from the Chicago office to the New York office. |
Terms of Agreement:
| • | For a transition period beginning January 1, 2005 and ending December 31, 2006, Mr. Thomas will be provided use of a furnished apartment in New York with cleaning service, at a cost to Alcoa Inc. not to exceed $105,000 per year. |
| • | Mr. Thomas will be reimbursed for income taxes resulting from this benefit. |
