Kaiser Aluminum 2014 Short-Term Incentive Umbrella Plan Description

Summary

This document outlines Kaiser Aluminum's 2014 Short-Term Incentive (STI) Umbrella Plan, which sets a performance goal of $5 million in net cash from operating activities. If this goal is met, a bonus pool equal to 15% of the cash flow will be distributed among designated executives, with specific percentages allocated to each. The maximum bonus per executive is capped at $5 million per year. The plan only governs incentive awards and does not affect severance or change in control benefits.

EX-10.8 4 kaluexhibit108-3312014x10xq.htm DESCRIPTION OF 2014 SHORT-TERM INCENTIVE UMBRELLA PLAN KALU Exhibit 10.8 - 3.31.2014 - 10-Q

Exhibit 10.8

2014 STI Umbrella Plan

2014 Performance Goal and Bonus Pool

The performance goal for the STI Performance Period shall be $5.0 million in Net cash provided by operating activities, as reported in the Company’s Statements of Consolidated Cash Flows (“Cash Flow”). The bonus pool, representing the amount available for payment of bonuses, shall equal 15% of Cash Flow.

Allocation of Bonus Pool to Executives



Executive Name	Executive Title	Percent of Pool Allocated to Executive¹
Jack A. Hockema	Chief Executive Officer	38.1635%
John M. Donnan	EVP - Legal, Compliance and Human Resources	17.2712%
Peter Bunin	SVP - Operations	17.2712%
Keith Harvey	SVP - Sales and Marketing, Aerospace and General Engineering	16.9326%
[Other Designated Participant]	[Designated Participant Title]	10.3614%

¹Subject to an aggregate maximum bonus opportunity per executive of $5.0 million per calendar year, pursuant to the Equity Incentive Plan.

Administrative Provisions

The 2014 STI Umbrella Plan only applies to the calculation and award of incentive awards, if any. There will be no duplication of benefits created by the 2014 STI Umbrella Plan.

The 2014 STI Umbrella Plan will not increase any benefits that may be payable under any severance and/or change in control agreements.