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Exhibit 10.11 Alcan Executive Performance Award Plan, dated 1 January 2007, as amended and restated.
 
 
 For Grades 38 and above
 Plan Description
 January 2007




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Alcan Executive Performance Award (EPA) Plan
    

Grades
38 and above
 TABLE OF CONTENTS      Table of Contents  Contents
 AN OVERVIEW OF ALCANS COMPENSATION STRATEGYTotal Direct Compensation
    
    
    2Base Salary
    
    
    2Executive Performance Award (EPA) Program
    
    
    2Long Term Incentive Program (LTI)
    
    
    3Total Shareholder Return Plan (TSR)
    
    
    3Alcan Restricted Share Unit Plan (RSU)
    
    
    3In Summary
    
    
    4GENERALIntroduction to Alcans Executive Performance Award (EPA) Plan
    
    
    4DESCRIPTION OF THE PLANParticipation
    
    
    5Period of Participation
    
    
    5Control
    
    
    5Administration
    
    
    5Performance Period
    
    
    5Target Award
    
    
    5PERFORMANCE AWARD COMPONENTSFinancial Performance Award (FPA)
    
    
    6Individual/team Award (ITA)
    
    
    6Objective Setting (Commitments)
    
    
    6Payout Scale
    
    
    7CALCULATION OF AWARDAdjustments
    
    
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##### Table of Contents



Alcan Executive Performance Award (EPA) Plan
    

Grades
38 and above
 An Overview of Alcans Compensation Strategy
   Total Direct Compensation
   Base Salary
  Executive Performance Award Program
   2




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##### Table of Contents



Alcan Executive Performance Award (EPA) Plan
    
    Grades 38 and above
 Long Term Incentive Program
  Total Shareholder Return (TSR) Plan
  th th th
 Alcan Restricted Share Unit (RSU) Plan
   In Summary
  Alcans Executive Compensation Model
 Components
    
    Measure100% compared to
competitive market
    
    Long Term Incentive
    
    TSR (43 +)
RSU
    
    The components vary in proportion relative to the salary grades.Executive Performance Award
    
    70% EVA
30% individual/team
    
    Higher salary grades have proportionately more variable compensation.Base Salary
    
    Fixed Component
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##### Table of Contents



Alcan Executive Performance Award (EPA) Plan
    

Grades
38 and above
 General
 Introduction to Alcans Executive Performance Award (EPA) Plan
    ̈
    
    Financial Performance Award (FPA)  70% ̈
    
    Individual/Team Award (ITA)  30%
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##### Table of Contents



Alcan Executive Performance Award (EPA) Plan
    

Grades
38 and above
 Description of the Plan
 Participation
  Period of Participation
    st
  Control
  Administration
  Performance Period
  Target Award
  5




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##### Table of Contents



Alcan Executive Performance Award (EPA) Plan
    

Grades
38 and above
 Performance Award Components
 Financial Performance Award (FPA)
   Illustration
 
 Individual/team Award (ITA)
    Objective Setting (Commitments)
  6




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##### Table of Contents



Alcan Executive Performance Award (EPA) Plan
    

Grades
38 and above
 Payout Scale
  
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##### Table of Contents



Alcan Executive Performance Award (EPA) Plan
    

Grades
38 and above
 Calculation of Award
   Total Award = Target Award x (FPA rating x 70% + ITA rating x 30%)
 Illustration of an EPA framework
 Target EPA
    
    EVA Component
    
    Individual and/or Team Targets70% ($ 35,000)
    
    30% ($ 15,000)Objectives
    
    WeightingBusiness Unit: 70%
    
    1.Integrate a key technology
    
    
    33
    %$50,000
    
    
    
    2.Optimize use of certain assets
    
    
    33
    %Business Group: 30%
    
    3.EHS Targets
    
    
    33
    %
 Example of payout computation
 ITA (30%)FPA (70%)
    
    Individual /Target Award
    
    EVA Rating
    
    TeamEmployee entity
    
    Parental entity70%
    
    30%$50,000
    
    Rating of 120%
    
    Rating of 130%
    
    Rating of 90%
 Total Award
    
    = $50,000 x 70% (120% X 70% + 130% x 30%) + $50,000 X 30% X 90%= $43,050 + $13,500= $56,550
 Adjustments
  
    
    the impact of accounting changes or restatements;
    
    exchange rates, metal price and other specified commodities/energy price
fluctuations;
    
    other significant pass through lag items such as resins and films; and
    
    adjustments for divestments/acquisitions and/or
mergers.
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