| 2.1 | As      used in this Agreement, the following terms shall have the meanings as      specified below: |
|-----|------------------------------------------------------------------------------------------------------|

|   | “Mitsui      EUROPE” means Mitsui & Co. EuropePLC. |
|--------|--------------------------------------------------------------------|

| 4.1 | The      Firm Price of each specification of Commodity under this Agreement during      each Contract Year shall be confirmed by TIMET and Toho in writing      (hereinafter called the “Annual Confirmation”), which shall be made      annually within thirty (30) days after the Parties have agreed to the Firm      Price of Commodity for the next Contract Year.  The form of the      Annual Confirmation is attached hereto as Appendix C.  The      Annual Confirmation also will set forth the Commodity Mix (as defined      below). |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2 | The      Annual Confirmation shall stipulate the monthly delivery schedule of      Commodity in the applicable ContractYear. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

| 4.3 | Each      Annual Confirmation shall be deemed to incorporate the terms and      conditions set forth in this Agreement and the Consignment      Agreement.  If there is any conflict or difference in      interpretation between this Agreement and any Annual Confirmation, the      terms and conditions of this Agreement shall supersede those of said      Annual Confirmation, and any such conflicting or different terms or      conditions shall be deemed rejected by the other Party, unless such      conflicting or different terms or conditions are incorporated into the      relevant Annual Confirmation by writing or typing conspicuously on the      Annual Confirmation and identifying the specific changes to this Agreement      as an amendment and signed by the duly authorized representatives of TIMET      and Toho. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 5.      QUANTITY |
|--------------------------|

| 5.1 | (a) | By      * of each Contract Year, TIMET shall provide Toho with an estimate of      quantity of Commodity (including the estimated quantity of each type of      Commodity) to be purchased and taken delivery of by TIMET for the next      Contract Year pursuant to the Consignment Agreement (the “Forecast      Quantity”).  Toho and TIMET shall agree by * to the actual      quantity and price of Commodity by Specification to be supplied by Toho to      TIMET pursuant to the Consignment Agreement during the following Contract      Year. |
|-----|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      quantity agreed to by * shall be final and binding quantity for both      Parties (the “Firm Annual Quantity”), provided that, where relevant,      *  in the case that the Parties fail to reach agreement on the      annual quantity in the relevant ContractYear. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Both      the Forecast Quantity for the following Contract Year under this Agreement      and the Firm Annual Quantity shall be within the range of quantities      permitted as set forth in Article5.2. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.2 | For      Contract Year 2011, the Firm Annual Quantity of Disc Quality Commodity      shall be *  and the Firm Annual Quantity of Structural Grade      Commodity shall be *.  For Contract Years 2012-2025, the Parties      have established a range for the minimum and maximum Firm Annual Quantity      of Commodity *  asfollows: |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| * | * | * |
|---|---|---|
| * | * | * |
| * | * | * |

| 5.3 | For      Contract Years 2011 – 2025 the Commodity Mix by Specification (hereinafter      called the “Commodity Mix”) with respect to All Other Types of Commodity      and for Contract Years 2012 – 2025 the Commodity Mix with respect to Disc      Quality and Structural Grade Commodity will be subject to the limitations      as follows: |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| * | * | * |
|---|---|---|
| * | * | * |
| * | * | * |

| 5.4 | * |
|-----|---|

| ARTICLE 6.      PRICE |
|-----------------------|

| 6.1 | On      or prior to *, Toho will provide to TIMET the price for the Commodity for      the upcoming Contract Year.  (In the event that there is a Cost      Adjustment (as defined below) or a Currency Adjustment (as defined below)      applicable to the upcoming Contract Year, Toho will provide to TIMET the      price for the Commodity by *.) The Parties will engage in negotiation      within the applicable price ranges detailed in Article 6.3, and will take      into consideration the market situation of titanium sponge in their final      agreement on the price of Commodity to be reached by * of the year that      precedes such Contract Year (the “Firm Price”).  If no agreement      is reached by *, the terms of Article 7 shall  apply. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2 | The      Firm Price shall be set out in each Annual Confirmation issued pursuant to      Article 4.1. All prices are stipulated in U.S. Dollars per kilogram, DDU      (notwithstanding any provisions of the Consignment Agreement, as defined      in INCOTERMS 2000) Consignment Place basis, and the Firm Price shall be      held final and binding on both Parties for the applicable Contract      Year. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.3 | The      permissible price ranges for the minimum and maximum Firm Price shall be      as set forth in the table below, as adjusted pursuant to Articles 6.4 and      6.5 below. The price range below, adjusted as applicable, for the      Commodity shall be applicable for each Contract Year during the term of      this Agreement. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| * | * | * |
|---|---|---|
| * | * | * |
| * | * | * |
| * | * | * |
| * | * | * |
| * | * | * |

|   | 6.4 | (a) | * |
|--------|-----|-----|---|

|   | (d) | With      respect to the Benchmark and Reference Indices for feedstock (i.e., the      BM-F and the RI-F), TIMET shall be permitted upon advance written notice      to audit Toho’s books and records to verify the actual and estimated      purchase costs incurred to purchase all rutile feedstock for all periods      relevant to the Cost Adjustmentcalculation. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | The      Parties shall complete the calculation of the Cost Adjustment to the price      range by *. |
|--------|-----|------------------------------------------------------------------------------------------------------|

| 6.5 | (a) | * |   |
|-----|-----|---|--------|

|   | (b) | * |
|--------|-----|---|

|   | (d) | The      Parties shall complete the calculation of the Currency Adjustment to the      price range by *. |
|--------|-----|----------------------------------------------------------------------------------------------------------|

| 7.1 | In      the event that TIMET and Toho fail to agree on the Firm Price of the      Commodity for any Contract Year pursuant to the provisions set forth in      Article 6 on or before *  (the “Price Disagreement”), the terms      and conditions of this Article 7 shallapply. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.2 | In      case that the following Contract Year is an odd  year: |
|-----|----------------------------------------------------------------|

|   | (a) | *,      Toho shall make an offer to TIMET in writing (hereinafter called “Toho’s      Final Offer”), which will consist of the lowest prices (within the      applicable price range) at which Toho is willing to sell the Firm Annual      Quantity of the Commodity for such Contract  Year. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | *,      TIMET shall respond to Toho in writing as  follows: |
|--------|-----|-------------------------------------------------------------|

|   | (i) | by      accepting Toho’s Final Offer; or |
|--------|-----|------------------------------------------------|

|   | (ii) | by      making its final offer price to Toho (hereinafter called “TIMET’s Final      Counteroffer”), which will consist of the highest prices (within the      applicable price range) at which TIMET is willing to purchase the Firm      Annual Quantity of the Commodity for such Contract  Year. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Unless      the price of Commodity is mutually agreed by both Parties *, the price of      Commodity stipulated in TIMET’s Final Counteroffer shall be deemed to be      accepted by Toho and to be the FirmPrice. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3 | In      case that the following Contract Year is an even  year: |
|-----|-----------------------------------------------------------------|

|   | (a) | *,      TIMET shall make an offer to Toho in writing (hereinafter called “TIMET’s      Final Offer”), which will consist of the highest prices (within the      applicable price range) at which TIMET is willing to purchase the Firm      Annual Quantity of the Commodity for such Contract  Year. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | *,      Toho shall respond to TIMET in writing as  follows: |
|--------|-----|-------------------------------------------------------------|

|   | (i) | by      accepting TIMET’s Final Offer; or |
|--------|-----|-------------------------------------------------|

|   | (ii) | by      making its final offer price to TIMET (hereinafter called “Toho’s Final      Counteroffer”), which will consist of the lowest prices (within the      applicable price range) at which Toho is willing to sell the Firm Annual      Quantity of the Commodity for such Contract  Year. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Unless      the price of Commodity is mutually agreed by both Parties *, the price of      Commodity stipulated in Toho’s Final Counteroffer shall be deemed to be      accepted by TIMET and to be the FirmPrice. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.1 | *,      Toho will calculate the amount of Commodity actually sold by Toho to TIMET      hereunder for the immediately preceding Contract Year and shall advise      TIMET in writing of the result of such calculation (hereinafter called the      “Calculation Notice”).  If TIMET objects to such calculation, it      shall advise Toho in writing of its objection within *  after      receipt of the Calculation Notice.  The date on which the      Parties agree in writing as to such calculation shall be referred to as      the “Calculation Date.” |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2 | * |
|-----|---|

| 8.3 | The      liquidated damages in the amount of the Take or Pay Payment stipulated in      Article 8.2 shall settle all the damages arising from TIMET’s failure to      take delivery of the full amount of the Firm Annual Quantity      *. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 11.      SHIPMENT |
|---------------------------|

| 11.1 | The      shipment of Commodity hereunder shall be made in accordance with the      delivery schedule in the Annual Confirmation. Toho agrees to deliver the      Commodity within *  before or after the delivery schedule in the      Annual Confirmation.  If any scheduled shipment (other than due      to Force Majeure) is delayed by more than *  from the scheduled      delivery date, and the Commodity held in Consignment is not sufficient to      cover for such late delivery, TIMET may, at its sole election, provide      written notice to Toho of TIMET’s election to (i) *; or (ii) take delivery      of the delayed Commodity within *  of receipt of TIMET’s notice      of election, and Toho agrees to supply the Commodity to TIMET on a first      priority basis, with time of the essence in performance, until all TIMET’s      orders have been brought current with the original delivery      schedule.  *. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.2 | TIMET      shall use commercially reasonable efforts to schedule the shipments of      Commodity to be evenly spread by calendar quarter (and also evenly spread      in each calendar month) during each Contract Year.  The Parties      understand, however, that actual quantities of Commodity to be purchased      and taken delivery of by TIMET may vary upward or downward from      quarter-to-quarter and month-to-month, depending on TIMET’s production      requirements and availability of Commodity and on the production of      Commodity at the Toho Facility.  For the avoidance of doubt, the      actual quantity of Commodity to be delivered in each Contract Year shall      in no way affect the obligation of TIMET or Toho with regard to delivery      of the entire Firm Annual Quantity throughout the relevant Contract      Year. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 12      WARRANTY |
|--------------------------|

| 12.1 | Toho      warrants to TIMET that Toho holds and will pass marketable title to the      goods sold under the ConsignmentAgreement. |
|------|-----------------------------------------------------------------------------------------------------------------------------------|

| 12.2 | Toho      warrants to TIMET that Commodity shall strictly conform to the applicable      Specification. |
|------|---------------------------------------------------------------------------------------------------------|

| 12.3 | In      the event that Commodity sold by Toho to TIMET hereunder does not conform      to the warranty set forth in Article 12.2 above, then Toho shall, at its      sole cost and expense, remove or otherwise dispose of such non-conforming      Commodity and replace it promptly with an equivalent quantity of Commodity      which conforms to such warranty.  Toho’s obligation to remove or      dispose of and replace non-conforming Commodity with conforming Commodity      shall not be applicable in the event TIMET fails to give notice of such      non-conformity as provided for in Article13. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.4 | Except      for such warranties, no warranties whatsoever, express or implied, with      respect to any quantities of Commodity delivered to TIMET hereunder are      made by Toho and Toho expressly disclaims any warranty of merchantability,      express, implied or statutory, with respect to such quantities of      Commodity, and further disclaims any warranty of fitness for any      purpose. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 13      INSPECTION |
|----------------------------|

|   | ARTICLE 14. TERM AND      TERMINATION |
|--------|---------------------------------------|

| 14.1 | This      Agreement shall be effective as of the 18th      day of December 2009 and remain effective until December 31, 2025 (the      “Termination Date”). |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.2 | This      Agreement shall terminate upon the occurrence of any of the      following: |
|------|---------------------------------------------------------------------------------------|

|   | (a) | the      Termination Date; |
|--------|-----|----------------------------|

|   | (b) | exercise      of the right to terminate this Agreement set forth in Article 14.3 or 14.4      below. |
|--------|-----|------------------------------------------------------------------------------------------------------|

| 14.3 | If      either Party commits a material breach of this Agreement, the Annual      Confirmation or the Consignment Agreement, the non-breaching Party may      give a written notice demanding the breaching Party to remedy such breach,      if such breach is capable of being remedied.  If the breaching      Party fails to remedy the same within ninety (90) days (or fails to      commence efforts to remedy the same within thirty (30) days) after receipt      of such notice or such breach is not capable of being remedied, the      non-breaching Party has a right to terminate this Agreement immediately by      written notice to the breachingParty. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.4 | Either      Party has a right to terminate this Agreement immediately if bankruptcy,      insolvency, reorganization proceedings, or any other proceedings analogous      in nature or effect, are instituted by or against the other Party, or the      other Party is dissolved or liquidated, whether voluntarily or      involuntarily, or if a receiver or trustee is appointed for all or a      substantial part of the assets of the other Party or if the other Party      makes an assignment for the benefit of creditors  generally. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.5 | The      termination of this Agreement shall not affect the rights of the Parties      that have accrued hereunder prior to such  termination. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.6 | Notwithstanding      Clause 5 of the Consignment Agreement, both Parties agree not to terminate      the Consignment Agreement unless this Agreement is    terminated. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.7 | An      obligation to pay under Article 8 or Article 11.1 if accrued prior to the      date of termination of this Agreement, shall survive the termination of      this Agreement. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 15.      HARDSHIP |
|---------------------------|

| ARTICLE 16. FORCE      MAJEURE |
|--------------------------------|

| 16.1 | Neither      Party shall be liable for a failure to perform or delay in performing all      or any part of this Agreement, the Consignment Agreement, or of any Annual      Confirmation when such failure or delay is due to any cause or      circumstance beyond the reasonable control of such Party including,      without limitation, acts of God, fire, flood, storms, earthquake, typhoon,      tidal wave, plague or other epidemics, laws, governmental orders,      regulations, sanctions or restrictions, war (whether declared or not),      armed conflict, or the serious threat of the same, hostilities,      mobilization, blockade, embargo, detention, revolution, riot, looting,      lockout, strike or other labor dispute or unavailability of transportation      (each an event of “Force Majeure”). |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.2 | If      any of the events of Force Majeure occurs and the failure or delay caused      thereby cannot be cured within ninety (90) days, any part of the Annual      Confirmation affected thereby shall be deemed not to form a part of such      Annual Confirmation and the Parties shall be discharged from any relevant      obligations thereunder accordingly. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.3 | The      Party affected by an event of Force Majeure shall promptly notify the      other Party, in writing, as to its commencement and      termination.  The Party so affected shall take commercially      reasonable steps to resume performance hereunder with the least possible      delay. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.4 | In      the event of any Force Majeure occurring, both Parties shall use their      commercially reasonable endeavors to find out possible lawful means to      minimize the loss and damage resulting from such circumstances and may      also seek alternative means to give effect to the objects of this      Agreement. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 17.      ARBITRATION |
|------------------------------|

| 17.1 | If      there shall be any dispute under this Agreement (excluding that related to      the Price Disagreement set forth in Article 7), the regular      representatives of the Parties shall use their best efforts to resolve the      matter on an amicable basis and in a manner fair to the Parties. If one      Party notifies another Party that a dispute has arisen and the Parties are      unable to resolve such dispute within a period of thirty (30) days from      such notice, then the matter shall be referred to arbitration under      Article 17.2 |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.2 | If      a dispute is not resolved in the manner and within the period described in      Article 17.1, the dispute shall be referred by either Party for final      settlement by arbitration in accordance with the Rules of Arbitration of      the International Chamber of Commerce. One arbitrator appointed in      accordance with said Rules shall decide the matters in      dispute. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.3 | The      place of arbitration shall be New York City, New York, USA. The costs of      arbitration, including reasonable attorneys’ fees, shall be awarded as the      arbitrator shall equitably determine. The award shall set forth the legal      and factual bases therefor. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.4 | The      award of the arbitrator shall be final and binding and not subject to any      appeal.  Judgment on the award may be entered in any court      having jurisdiction thereof or having jurisdiction over the unsuccessful      Party or its assets. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.5 | When      adjudicating a dispute or proceeding among the Parties, the arbitrator      shall be instructed to first apply the contractual provisions hereof and      the mutual intent of the Parties as set forth in this Agreement and any      Annual Confirmations that are part of such dispute or      proceeding. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.6 | If      a dispute, controversy or claim other than an issue of material breach is      submitted to arbitration pursuant to this Article 17, the Parties, during      the period of such arbitral proceedings and pending the making of an      arbitral award, shall continue to perform their respective obligations      under this Agreement insofar as the circumstances reasonably shall allow      without prejudice to a final adjustment in accordance with the arbitral      award made in respect of that dispute, controversy or    claim. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 18. GOVERNING      LAW |
|--------------------------------|

| ARTICLE 19. ENTIRE      AGREEMENT |
|-----------------------------------|

| ARTICLE 20.      AMENDMENTS |
|-----------------------------|

| ARTICLE 21      CONFIDENTIALITY |
|---------------------------------|

| 21.1 | (a) |   | Neither      Party shall disclose to any other person any information relating to or      referring to the matters in this Agreement that such party (the “Receiving      Party”) has received from the other party  except: |
|------|-----|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | to      the extent such information was in the lawful possession of the Receiving      Party without confidentiality restrictions prior to its receipt thereof      from the disclosing Party; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | to      the extent such information is or becomes public knowledge without the      fault of the Receiving Party; |
|--------|------|-------------------------------------------------------------------------------------------------------------------|

|   | (iii) | where      disclosure is required by law or is made in compliance with the order of      any court of competent jurisdiction or by the rules or regulations of any      stock exchange on which any securities of the Parties or any of their      affiliates are registered, or any regulatory or statutory      body; |
|--------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | in      the case of Toho to its subsidiaries or affiliates, or employees,      consultants, advisors, lawyers, accountants or bankers of any of the      foregoing, provided that such recipients of information are made aware of      the confidentiality of suchinformation; |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (v) | in      the case of TIMET, to its subsidiaries, its affiliates or its or its      subsidiaries or affiliates’ employees, consultants, advisors, lawyers,      accountants or bankers, provided that such recipients of information are      made aware of the confidentiality of such  information |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vi) | where      it is independently developed by it or any of its affiliates without usage      of any information that is confidential under this    Agreement; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (vii) | is      or becomes available to the Receiving Party on an unrestricted basis from      a source having a right to make such disclosure;  or |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (viii) | is      made available on an unrestricted basis by a third  party. |
|--------|--------|--------------------------------------------------------------------|

|   | (b) | The      Parties will attempt to limit the exchange of information relating to or      referring to the matters dealt with in this Agreement to only such      information reasonably necessary for the purposes of this      Agreement. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ARTICLE 22.      ASSIGNMENT |
|-----------------------------|

| 22.1 | This      Agreement shall be binding upon and inure to the benefit of the Parties      and their respective successors and permitted  assigns. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------|

| 22.2 | Neither      Party shall assign, transfer or otherwise dispose of its rights or      obligations under this Agreement and the Annual Confirmation, in whole or      in part, without the prior written permission of the other Party which      will not be unreasonably withheld. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 23. NO      WAIVER |
|----------------------------|

| 23.1 | No      failure to exercise or delay in exercising any right or remedy under this      Agreement, the Consignment Agreement, or under any Annual Confirmation by      any Party shall operate as a waiver thereof or of any other right or      remedy which such Party may have hereunder or thereunder, nor shall any      single or partial exercise of such right or remedy preclude any further      exercise thereof or of any other right or remedy which such Party may have      hereunder or thereunder. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 23.2 | The      rights and remedies provided herein are cumulative and not exclusive of      any rights and remedies provided by law, in equity or      otherwise. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ARTICLE 24.      SEVERABILITY |
|-------------------------------|

| ARTICLE 25.      NOTICES |
|--------------------------|

| 25.1 | All      notices, requests or other communications required or permitted to be      given hereunder shall be in writing in the English language and shall be      sent by registered mail, postage prepaid, or e-mail or facsimile (with      confirmation by registered mail, postage prepaid) to the Party at its      address set forth below or to such other address as may from time to time      be notified by any Party to the other in accordance with this Article      25.1: |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 25.2 | All      notices shall be deemed to have been given when duly transmitted by e-mail      or facsimile or seven (7) days after such notice has been deposited in the      mail and sent by registered mail as the case may  be. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | [Signature      page follows.] |
|--------|--------------------------------|

----

----

|                                                            | RAW      MATERIAL SPECIFICATION | RMS: 71.4 |
|-----------------------------------------------------------------|---------------------------------|----------------|
| REV: 3                                                     |
| PREMIUM      GRADETITANIUM      SPONGECLASS      A RAW MATERIAL | DATE:15      Dec 08             |
|                                                            | PAGE:       1 of 6         |

|   | SCOPE |
|--------|-------|

|   | 1.1 | This      specification covers the manufacture of premium quality titanium sponge      produced by the Vacuum Distillation Process for use in making titanium      alloy products for premium grade aerospace  applications. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2 | This      product shall be controlled by a written Method of Manufacture agreed      between supplier and TIMET.  No change shall be made to the      Method of Manufacture without prior approval by  TIMET. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.3 | This      is a TIMET designated Class “A” rawmaterial. |
|--------|-----|--------------------------------------------------------------------|

| 2 | ACKNOWLEDGEMENT |
|---|-----------------|

| 3 | APPLICABLE      DOCUMENTS |
|---|---------------------------|

|   | 3.1 | TIMET      RMS 1000 Critical      Aerospace Application Raw Material Quality Systems Requirements      (latest revision). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------|

|   | 3.2 | PWA      1201, Titanium      Sponge (latest revision). |
|--------|-----|--------------------------------------------------------|

|   | 3.3 | PWA      300, Control of      Materials, Processes and Parts (latest  revision) |
|--------|-----|---------------------------------------------------------------------------------|

|   | 3.4 | PWA      370, Engineering Source      Approval (latest revision) |
|--------|-----|------------------------------------------------------------------|

|   | 3.5 | GE      P1TF95, Control of      Materials Used in the Melting of Premium Quality Titanium Base      Metals (latest revision). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

| 4 | TECHNICAL      REQUIREMENTS |
|---|-----------------------------|

|   | 4.1 | Composition |
|--------|-----|-------------|

|   | 4.2 | Table      1:  ChemicalAnalysis |
|--------|-----|-------------------------------------------|

----

|                                                            | RAW      MATERIAL SPECIFICATION | RMS: 71.4 |
|-----------------------------------------------------------------|---------------------------------|----------------|
| REV: 3                                                     |
| PREMIUM      GRADETITANIUM      SPONGECLASS      A RAW MATERIAL | DATE:15      Dec 08             |
|                                                            | PAGE:  2      of 6    |

| Element | Blend wt% |
|---------|-----------|
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |
| *       | *         |

|   | 4.3 | Hardness |
|--------|-----|----------|

|   | 4.4 | Quality |
|--------|-----|---------|

|   | 4.4.1 | Sponge      shall be uniform in appearance, thoroughly blended and free from high      density inclusions, oxides, nitrides, slag particles, discolored      particles, non-metallic and all other foreign  materials. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.4.2 | Sponge      particles from each lot (batch) or blend of lots shall be visually      inspected to an established inspection procedure to a frequency as agreed      in the Method of Manufacture to remove any particle(s) of unusual color or      physical appearance.  Any particle(s) that are suspected of burn      shall be sent for analysis.  Only the portion of the sponge      particle that exhibits the unusual color or physical appearance shall be      tested for nitrogen. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                            | RAW      MATERIAL SPECIFICATION | RMS: 71.4 |
|-----------------------------------------------------------------|---------------------------------|----------------|
| REV: 3                                                     |
| PREMIUM      GRADETITANIUM      SPONGECLASS      A RAW MATERIAL | DATE:15      Dec 08             |
|                                                            | PAGE:  3      of 6    |

|   | 4.4.3 | No      sponge shall be used when *. |
|--------|-------|--------------------------------------|

|   | 4.4.4 | No      sponge shall be used which has been subjected to a fire or has been      produced in equipment that has experienced a fire until that equipment has      been cleaned, inspected for damage and has produced sponge not used for      product meeting this specification. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.4.5 | Specific      procedures must be available dealing with control of any dense metal tools      used in the processing/inspection areas, e.g. tungsten or tungsten      carbide. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.4.6 | *. |
|--------|-------|----|

|   | 4.4.7 | *. |
|--------|-------|----|

|   | 4.4.8 | Every      effort must be made to keep 4.4.6 and 4.4.7 to a minimum and despatch all      of one (1) batch at the same time ifpossible. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.5 | Screen      Analysis |
|--------|-----|----------------------|

| Size      Range | Amount |
|-----------------|--------|
| *               | *      |

| Size      Range |
|-----------------|
| *               |

|   | 4.6 | Bulk      Density |
|--------|-----|-------------------|

----

|                                                            | RAW      MATERIAL SPECIFICATION | RMS: 71.4 |
|-----------------------------------------------------------------|---------------------------------|----------------|
| REV: 3                                                     |
| PREMIUM      GRADETITANIUM      SPONGECLASS      A RAW MATERIAL | DATE:15      Dec 08             |
|                                                            | PAGE:  4      of 6    |

|   | 4.7 | Sampling |
|--------|-----|----------|

| 5 | IDENTIFICATION |
|---|----------------|

| 6 | PACKAGING |
|---|-----------|

| 7 | SHIPPING |
|---|----------|

|   | 7.1 | All      containers and shipping papers must be in compliance with applicable      regulations.  The product shall be prepared for shipment in      accordance with commercial practice and in compliance with applicable      rules and regulations pertaining to handling, packaging and transportation      to ensure carrier acceptance and safedelivery. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.2 | For      shipment overseas, an entire blend shall be contained in one overseas      shipping container. |
|--------|-----|---------------------------------------------------------------------------------------------------------|

|   | 7.3 | Within      each delivery the drums will be arranged in order of lot and drum      number. |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | 7.4 | The      method of packing and delivery will not be altered without the prior      agreement of TIMET. |
|--------|-----|--------------------------------------------------------------------------------------------------------|

|   | 7.5 | The      samples that are required by Section 4 of this specification shall be      packed in No.1 drum of the lot. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------|

----

|                                                            | RAW      MATERIAL SPECIFICATION | RMS: 71.4 |
|-----------------------------------------------------------------|---------------------------------|----------------|
| REV: 3                                                     |
| PREMIUM      GRADETITANIUM      SPONGECLASS      A RAW MATERIAL | DATE:15      Dec 08             |
|                                                            | PAGE:  5      of 6    |

| 8 | CERTIFICATION |
|---|---------------|

|   | 8.1 | Average      values from the chemical analysis of the blends, along with particle size      analysis and hardness of each lot as per section 4 of this      specification. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.2 | Statement      that material meets this RMS, RMS 1000, PWA 1201, PWA 300, PWA 370 and GE      P1TF 95 and material has been manufactured in accordance with the      applicable method of manufacture and/or applicable end user agreements. If      a non-integrated process is used, this must be  stated. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.3 | Details      of any non-conformances and/or process change requests that apply on the      first lot. |
|--------|-----|-------------------------------------------------------------------------------------------------------|

| 9 | NON-CONFORMANCE |
|---|-----------------|

| 10 | QUALITY      ASSURANCE |
|----|------------------------|

| 11 | OTHER      CRITERIA |
|----|---------------------|

|   | 11.1 | The      order of precedence shall be any applicable agreements between TIMET and      the supplier, the requirements listed on the TIMET Purchase Order or      contract, RMS 71.4 (latest revision) and RMS 1000 (latest      revision). |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.2 | Acceptance      of this RMS by the supplier must be acknowledged and a signed copy of such      acceptance shall be returned to TIMET Purchasing Manager.  The      acceptance must indicate the date from which material to the new      specification will be despatched toTIMET. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Revision      3: | 15      Dec 08 | Major      rewrite to bring specification up to date and more in-line with all other      raw material specifications. |
|------------------|----------------|------------------------------------------------------------------------------------------------------------------------|

----

|                                                            | RAW      MATERIAL SPECIFICATION | RMS: 71.4 |
|-----------------------------------------------------------------|---------------------------------|----------------|
| REV: 3                                                     |
| PREMIUM      GRADETITANIUM      SPONGECLASS      A RAW MATERIAL | DATE:15      Dec 08             |
|                                                            | PAGE:  6      of 6    |

| RK      Bolingbroke                             | 15/12/08       |   | Yvon      MILLET                               | 15      Dec 08 |
|-------------------------------------------------|----------------|--------|------------------------------------------------|----------------|
| Quality      and Technology Manager, Witton     | Date           |   | Quality      and Technology Manager, Savoie    | Date           |
| Michael      Hausman                            | 12      Dec 08 |   | JR      Berger                                 | 10      Dec 08 |
| Quality      and Technology Manager, Morgantown | Date           |   | Quality      and Technology Manager, Henderson | Date           |
| J      Horodecky                                | 15      Dec 08 |   | Margaret      Bolding                          | 12      Dec 08 |
| Purchasing      Manager, Europe                 | Date           |   | Purchasing      Manager, Henderson             | Date           |
| Nicholas      D. Corby, III                     | 12/12/08       |   |                                           |           |
| Purchasing      Manager, Morgantown             | Date           |   |                                           |           |

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:       1 of 6         |

| 1 | SCOPE |
|---|-------|

|   | 1.1 | This      specification covers the manufacture of premium quality titanium sponge      produced by the Vacuum Distillation Process for use in making titanium      alloy products for premium grade aerospace  applications. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2 | This      product shall be controlled by a written Method of Manufacture agreed      between supplier and TIMET.  No change shall be made to the      Method of Manufacture without prior approval by  TIMET. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.3 | This      is a TIMET designated Class “A” rawmaterial. |
|--------|-----|--------------------------------------------------------------------|

| 2 | ACKNOWLEDGEMENT |
|---|-----------------|

| 3 | APPLICABLE      DOCUMENTS |
|---|---------------------------|

|   | 3.1 | TIMET      RMS 1000 Critical      Aerospace Application Raw Material Quality Systems Requirements      (latest revision). |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------|

|   | 3.2 | PWA      1201, Titanium      Sponge (latest revision). |
|--------|-----|--------------------------------------------------------|

|   | 3.3 | PWA      300, Control of      Materials, Processes and Parts (latest  revision) |
|--------|-----|---------------------------------------------------------------------------------|

|   | 3.4 | PWA      370, Engineering Source      Approval (latest revision) |
|--------|-----|------------------------------------------------------------------|

|   | 3.5 | GE      P1TF95, Control of      Materials Used in the Melting of Premium Quality Titanium Base      Metals (latest revision). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

| 4 | TECHNICAL      REQUIREMENTS |
|---|-----------------------------|

|   | 4.1 | Composition |
|--------|-----|-------------|

|   | 4.2 | Table      1:  ChemicalAnalysis |
|--------|-----|-------------------------------------------|

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:       2 of 6         |

| * | * |
|---|---|
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |
| * | * |

|   | 4.3 | Hardness |
|--------|-----|----------|

|   | 4.4 | Quality |
|--------|-----|---------|

|   | 4.4.1 | Sponge      shall be uniform in appearance, thoroughly blended and free from high      density inclusions, oxides, nitrides, slag particles, discolored      particles, non-metallic and all other foreign  materials. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:  3      of 6    |

|   | 4.4.2 | Sponge      particles from each lot (batch) or blend of lots shall be visually      inspected to an established inspection procedure to a frequency as agreed      in the Method of Manufacture to remove any particle(s) of unusual color or      physical appearance.  Any particle(s) that are suspected of burn      shall be sent for analysis.  Only the portion of the sponge      particle that exhibits the unusual color or physical appearance shall be      tested for nitrogen. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.4.3 | * |
|--------|-------|---|

|   | 4.4.4 | No      sponge shall be used which has been subjected to a fire or has been      produced in equipment that has experienced a fire until that equipment has      been cleaned, inspected for damage and has produced sponge not used for      product meeting this specification. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.4.5 | Specific      procedures must be available dealing with control of any dense metal tools      used in the processing/inspection areas, e.g. tungsten or tungsten      carbide. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.4.6 | * |
|--------|-------|---|

|   | 4.4.7 | * |
|--------|-------|---|

|   | 4.4.8 | Every      effort must be made to keep 4.4.6 and 4.4.7 to a minimum and despatch all      of one (1) batch at the same time ifpossible. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.5 | Screen      Analysis |
|--------|-----|----------------------|

| Size      Range | Amount |
|-----------------|--------|
| *               | *      |

| Size      Range |
|-----------------|
| *               |

|   | 4.6 | Bulk      Density |
|--------|-----|-------------------|

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:  4      of 6    |

|   | 4.7 | Sampling |
|--------|-----|----------|

| 5 | IDENTIFICATION |
|---|----------------|

| 6 | PACKAGING |
|---|-----------|

| 7 | *  SHIPPING |
|---|-------------|

|   | 7.1 | All      containers and shipping papers must be in compliance with applicable      regulations.  The product shall be prepared for shipment in      accordance with commercial practice and in compliance with applicable      rules and regulations pertaining to handling, packaging and transportation      to ensure carrier acceptance and safedelivery. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7.2 | For      shipment overseas, an entire blend shall be contained in one overseas      shipping container. |
|--------|-----|---------------------------------------------------------------------------------------------------------|

|   | 7.3 | Within      each delivery the drums will be arranged in order of lot and drum      number. |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | 7.4 | The      method of packing and delivery will not be altered without the prior      agreement of TIMET. |
|--------|-----|--------------------------------------------------------------------------------------------------------|

|   | 7.5 | The      samples that are required by Section 4 of this specification shall be      packed in No.1 drum of the lot. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------|

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:  5      of 6    |

| 8 | CERTIFICATION |
|---|---------------|

|   | 8.1 | Average      values from the chemical analysis of the blends, along with particle size      analysis and hardness of each lot as per section 4 of this      specification. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.2 | Statement      that material meets this RMS, RMS 1000, PWA 1201, PWA 300, PWA 370 and GE      P1TF 95 and material has been manufactured in accordance with the      applicable method of manufacture and/or applicable end user agreements. If      a non-integrated process is used, this must be  stated. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8.3 | Details      of any non-conformances and/or process change requests that apply on the      first lot. |
|--------|-----|-------------------------------------------------------------------------------------------------------|

| 9 | NON-CONFORMANCE |
|---|-----------------|

| 10 | QUALITY      ASSURANCE |
|----|------------------------|

| 11 | OTHER      CRITERIA |
|----|---------------------|

|   | 11.1 | The      order of precedence shall be any applicable agreements between TIMET and      the supplier, the requirements listed on the TIMET Purchase Order or      contract, RMS 71.5 (latest revision) and RMS 1000 (latest      revision). |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 11.2 | Acceptance      of this RMS by the supplier must be acknowledged and a signed copy of such      acceptance shall be returned to TIMET Purchasing Manager.  The      acceptance must indicate the date from which material to the new      specification will be despatched toTIMET. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Revision      4: | 15      Dec 08 | Major      rewrite to bring specification up to date and more in-line with all other      raw material specifications. |
|------------------|----------------|------------------------------------------------------------------------------------------------------------------------|

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE: 6      of 6          |

| RK      Bolingbroke                             | 15/12/08       |   | Yvon      MILLET                               | 15      Dec 08 |
|-------------------------------------------------|----------------|--------|------------------------------------------------|----------------|
| Quality      and Technology Manager, Witton     | Date           |   | Quality      and Technology Manager, Savoie    | Date           |
| Michael      Hausman                            | 12      Dec 08 |   | JR      Berger                                 | 10      Dec 08 |
| Quality      and Technology Manager, Morgantown | Date           |   | Quality      and Technology Manager, Henderson | Date           |
| J      Horodecky                                | 15      Dec 08 |   | Margaret      Bolding                          | 12      Dec 08 |
| Purchasing      Manager, Europe                 | Date           |   | Purchasing      Manager, Henderson             | Date           |
| Nicholas      D. Corby, III                     | 12      Dec 08 |   |                                           |           |
| Purchasing      Manager, Morgantown             | Date           |   |                                           |           |

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:  7      of 6    |

----

| [Missing Graphic Reference]                                                        | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:  8      of 6    |

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:  9      of 6    |

----

|                                                                               | RAW      MATERIAL SPECIFICATION | RMS: 71.5 |
|------------------------------------------------------------------------------------|---------------------------------|----------------|
| REV: 4                                                                        |
| TITANIUM      SPONGEPREMIUM      QUALITYSUPER/HIGH      PURITY (SP80/HP120, HP250) | DATE:15      Dec 08             |
|                                                                               | PAGE:       10 of 6        |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|   Name:                                                                                   |   |  Name:                                                                                    |   |
|  Title:                                                                         |   |   Title:                                                                        |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |

----