Document:

EX-10.2

 Exhibit 10.2 

FORM OF AMENDMENT TO 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDMENT No. 1 (the “Amendment”), dated November 13, 2017, to the Amended and Restated Employment
Agreement (the “Agreement”), effective as of July 11, 2015, by and among Aleris International, Inc., a Delaware corporation (together with its successors and assigns, the “Company”) and Sean Stack (the
“Executive”). 
 WHEREAS, the Compensation Committee of the Company previously authorized and approved changes in the
Executive’s Annual Base Salary and Target Bonus percentage (the “Compensation Changes”); and 
 WHEREAS, the
Compensation Committee of the Company previously authorized and approved an amendment to the Agreement that, changed the multiplier used in calculating the Executive’s Severance Payment in the event that the Company terminates the
Executive’s employment thereunder without Cause, or the Executive terminates his employment thereunder with Good Reason (the “Severance Multiplier Change”); and 

WHEREAS, the parties desire to amend the Agreement to acknowledge the Compensation Changes and Severance Multiplier Change as set forth
herein; and 
 NOW, THEREFORE, for good and valuable consideration, the Executive and the Company agree as follows: 

1. Amendments. 
 A.
Section 2(a) is hereby amended by adding the following sentence at the end of the paragraph: 
 Effective as of November 13, 2017,
Executive’s Base Salary shall be at the rate of $             per anum. 

B. Section 2(b) is hereby amended by adding the following sentence at the end of the paragraph: 

Effective as of November 13, 2017, Executive’s Target Bonus shall be     % of Base Salary, up to a
maximum of     % of Base Salary. 

 C. Section 5(a)(i)(C) is hereby deleted in its entirety and replaced as follows: 

(C) a cash payment equal to three (3) times the sum of (i) the annual Base Salary as of the Date of Termination (disregarding, for
this purpose, any reduction in Base Salary that occurred after the Amendment Effective Date) and (ii) the annual Target Bonus as of the Date of Termination (disregarding, for the purpose of determining the Target Bonus, any reduction in Base
Salary that occurred after the Amendment Effective Date) (such payment, the “Severance Payment”); and 
  

	 	2.	Other. Except as amended hereby, the Agreement shall remain in full force and effect. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.

  

	
	EXECUTIVE
	
	   

	Sean Stack

  

			
	ALERIS INTERNATIONAL, INC.

 
			
		
	By:	 	 

 [Signature
Page to the Amendment to Amended and Restated Employment Agreement]EX-10.3

 Exhibit 10.3 

FORM OF AMENDMENT TO U.S. EXECUTIVE AGREEMENT 

THIS AMENDMENT No.      (the “Amendment”), effective as of
                     (the “Amendment Effective Date”) to the
                                        
(the “Agreement”),
                                    , by and among Aleris
International, Inc., a Delaware corporation (together with its successors and assigns, the “Company”), for purposes of Section 1 only, Aleris Corporation, a Delaware corporation f/k/a Aleris Holding Company, and
                                     (the
“Executive”). 
 WHEREAS, the Compensation Committee of the Company previously authorized and approved changes in the
Executive’s Annual Base Salary (the “Compensation Change”); and 
 WHEREAS, the Compensation Committee of the Company
previously authorized and approved, an amendment to the Agreement that, changed how the Severance Payment was calculated and also changed when the Severance Payment is payable in the event that the Company terminates the Executive’s employment
thereunder without Cause, or the Executive terminates his employment thereunder with Good Reason (collectively, the “Severance Changes”); and 

WHEREAS, the parties desire to amend the Agreement to acknowledge the Compensation Change and Severance Changes as set forth herein; and 

NOW, THEREFORE, for good and valuable consideration, the Executive and the Company agree as follows: 

1. Amendments. 

A. Section 2(a) is hereby amended by adding the following sentence at the end of the paragraph: 

Effective as of November 13, 2017, Executive’s Base Salary shall be at the rate of
$             per anum. 
 B. Section 5(a)(i)(C) is
hereby deleted in its entirety and replaced as follows: 
 (C) a cash payment equal to one and
one-half (1-1/2) times the sum of (i) the annual Base Salary as of the Date of Termination (disregarding, for this purpose, any reduction in Base Salary that
occurred after the Amendment Effective Date) and (ii) the annual Target Bonus as of the Date of Termination (disregarding, for the purpose of determining the Target Bonus, any reduction in Base Salary that occurred after the Amendment Effective
Date) (such payment, the “Severance Payment”); and 

 C. Section 5(a)(ii) is hereby deleted in its entirety and replaced as
follows: 
 (i) The Accrued Benefits shall be paid/provided following the Date of Termination in accordance with the terms of
the applicable plan, program, agreement or benefit or as required by law. The Prior Year Bonus, if any, shall be paid in cash only when annual bonus amounts are paid to other senior executives of the Company generally but in no event later than two
and one-half (2-1/2) months following the calendar year with respect to which such Prior Year Bonus was earned. The Severance Payment shall be paid in cash in
substantially equal installments over eighteen (18) months following the Date of Termination, consistent with the Company’s payroll practices, with any installment due to be paid prior to the date that the condition described in
Section 5(f)(i) has been satisfied being accumulated and paid within fifteen (15) days after such condition is satisfied, and with the last installment being paid no later than the eighteen (18) month anniversary of the Date of
Termination, provided, however, that if the Company’s payroll practices change after the Executive has begun to receive payments under this Section 5(a), the Executive shall continue to receive payments in accordance with the schedule in
effect at the time that the Executive began to receive payments under this Section 5(a); provided, further, however, notwithstanding the foregoing, if termination of employment is in anticipation of or within twelve (12) months following a
Change of Control (as defined in the                             ), the Severance Payment will be paid
in a cash lump sum within thirty (30) days following the Date of Termination, to the extent permissible under the rules regarding a “short-term deferral” within the meaning of Treasury Regulations
Section 1.409A-1(b)(4) of the Code and “separation pay plans” within the meaning of Treasury Regulations Section 1.409A-1(b)(9) of the Code, or as
otherwise would not subject the Executive to taxes under Section 409A of the Code. For purposes of the foregoing, a termination of employment will be deemed to be “in anticipation of” a Change of Control if such termination is for the
principal purpose of avoiding or evading the Company’s or Parent’s compensation obligations that would arise upon a termination following a Change of Control. 

2. Other. Except as amended hereby, the Agreement shall remain in full force and effect. 

[Signature Pages Follows] 

 IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.

  

	
	EXECUTIVE
	
	   

  

			
	ALERIS INTERNATIONAL, INC.

 
			
		
	By:	 	 
		 	

 [Signature Page to the Amendment to Employment Agreement]EX-10.4

 Exhibit 10.4 
  

					
	 BIJLAGE 1 AAN DE

ARBEIDSOVEREENKOMST

GESLOTEN OP 20 JUNI 2016

(Hierna genoemd
 de
“Bijlage 1”)
	 		  	 FORM OF ADDENDUM      TO THE EMPLOYMENT

AGREEMENT CONCLUDED

ON JUNE 20, 2016

(Hereinafter referred to as the

“Addendum 1”)

			
	TUSSEN :	 		  	BETWEEN:
			
	Aleris Aluminum Duffel BVBA, met maatschappelijke zetel gevestigd te *****;	 		  	Aleris Aluminum Duffel BVBA, having its registered office at ****;
			
	Rechtsgeldig vertegenwoordigd door                     , in zijn hoedanigheid van Manager;	 		  	Duly represented by                     , in his capacity of Manager;
			
	Hierna genoemd de “Werkgever”;	 		  	Hereinafter referred to as the “Employer”;
			
	Enerzijds;	 		  	On the one hand;
			
	EN :	 		  	AND:
			
	De Heer Jack (Jacobus Antonius Johannes) Govers, met woonplaats te ****;	 		  	Mr. Jack (Jacobus Antonius Johannes) Govers, residing at ****;
			
	Hierna genoemd de “Werknemer”;	 		  	Hereinafter referred to as the “Employee”;
			
	Anderzijds;	 		  	On the other hand;
			
	GELET OP DE HIERNA VOLGENDE OVERWEGINGEN:	 		  	WHEREAS :
			
	 1.     Op datum van 20 juni 2016 hebben partijen een arbeidsovereenkomst
van onbepaalde duur gesloten (hierna de “Arbeidsovereenkomst”).
	 		  	 1.     On June 20, 2016, the parties have concluded an employment
agreement of indefinite duration (hereinafter referred to as the “Employment Agreement”)

			
	 2.     Partijen hebben besloten om Artikel 4.5 van de Arbeidsovereenkomst
te wijzigen, waarvoor zij onderhavig Addendum      sluiten.
	 		  	 2.     Parties have decided to amend Article 4.5 of the Employment
Agreement, reason why they conclude this Addendum     .

  
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	WORDT OVEREENGEKOMEN HETGEEN VOLGT :	 		  	IT HAS BEEN AGREED AS FOLLOWS:
			
	Artikel 1 – Wijziging van Artikel 4.5 van de Arbeidsovereenkomst	 		  	Article 1 – Amendment of Article 4.5 of the Employment Agreement
			
	De partijen zijn akkoord om Artikel 4.5 van de Arbeidsovereenkomst als volgt te wijzigen :	 		  	The parties agree to amend Article 4.5 of the Employment Agreement as follows :
			
	 Voor ieder kalenderjaar dat eindigt tijdens de Arbeidsperiode zal de Werknemer in aanmerking komen om een jaarlijkse
prestatiegebonden bonus te ontvangen (de “Jaarlijkse Bonus”) die wordt bepaald overeenkomstig de bepalingen en de voorwaarden van het jaarlijkse bonusplan van de Werkgever voor dat jaar, welke jaarlijks aan de Werknemer worden
gecommuniceerd, met een target Jaarlijkse Bonus gelijk aan     % van het basisloon (zoals bepaald in Artikel 4.3 van deze Arbeidsovereenkomst) (“Target Bonus”) tot maximum
    % van het basisloon. Partijen komen overeen, en de Werknemer aanvaardt, dat de toekenningen van de Jaarlijkse Bonus op discretionaire basis gebeuren en door het Compensation Committee van Aleris International
Inc., het moederbedrijf van de Werkgever, worden bepaald overeenkomstig de bepalingen van het jaarlijks bonusplan van de Werkgever. De Werknemer zal de Jaarlijkse Bonusbedragen, indien toepasselijk, ontvangen in cash op hetzelfde moment dat de
andere senior werknemers van de Werkgever de overeenkomstige jaarlijkse prestatiegebonden bonussen ontvangen, op voorwaarde dat de Werknemer hieronder tewerkgesteld is op de datum dat zulk bedrag wordt betaald of betaalbaar is. Indien tijdens de
Arbeidsperiode de Werkgever beslist om een bonusprogramma voor te zetten of te implementeren dat werkt op een kwartaalbasis, eerder dan op een jaarlijkse
	 		  	 For each calendar year that ends during the Employment Period, the Employee shall be eligible to receive an annual
performance-based bonus award payment (the “Annual Bonus”) determined in accordance with the terms and conditions set forth in the Employer’s annual bonus plan for that year and communicated to the Employee on an annual basis,
with a target Annual Bonus of     % of base salary (as set forth in Article 4.3 of this Employment Agreement) (“Target Bonus”), up to a maximum of     % of base
salary. Parties agree, and the Employee accepts, that the Annual Bonus is discretionary and is determined by the Compensation Committee of Aleris International Inc., the parent company of the Employer, in accordance with the terms and conditions of
the Employer’s annual bonus plan. The Employee shall be paid Annual Bonus amounts, if any, in cash at the same time as the other senior employees of the Employer are paid corresponding annual performance bonus amounts, provided that he is
employed hereunder as of the date such amount is paid, or due to be paid. If at any time during the Employment Period, the Employer decides to continue, or implement, a bonus program that operates on a quarterly, rather than an annual basis, such
quarterly bonus program will be administered in a manner consistent with the terms of this Article 4.5. Notwithstanding anything to the contrary contained herein and without limiting any other rights and remedies of the
Employer,

  
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	 basis, zal zulk kwartaal bonusprogramma worden beheerd op een wijze die overeenstemt met de bepalingen van dit Artikel
4.5. Niettegenstaande tegenstrijdige bepalingen in deze Arbeidsovereenkomst en zonder andere rechten of middelen van de Werkgever te beperken, indien de Werknemer betrokken is bij fraude of ander wangedrag dat bijdraagt aan nadelige financiële
resultaten of materiële schade, mag de Werkgever eisen dat de Werknemer iedere Jaarlijkse Bonus terugbetaalt die reeds werd uitgekeerd, maar enkel voor zover dat de originele betaling hoger was dan het lagere bedrag dat zou zijn betaald indien
de Jaarlijkse Bonus gebaseerd was op resultaten die zulke nadelige financiële resultaten en/of materiële schade in rekening brengen.
	 		  	 if the Employee has engaged in fraud or other misconduct that contributes to any adverse financial restatements or
material loss, the Employer may require repayment by the Employee of any Annual Bonus that has already been paid, but only to the extent that the original payment exceeded the lower amount that would have been paid as such Annual Bonus based on
results that reflected such restated financials and/or material loss.

			
	Artikel 2 – Varia	 		  	Article 2 – Miscellaneous
			
	Behoudens hetgeen in Artikel 1 van dit Addendum 1 werd uiteengezet, blijven de andere bepalingen van de Arbeidsovereenkomst ongewijzigd en onverminderd gelden.	 		  	Except for the provisions in Article 1 of this Addendum 1, all other provisions of the Employment Agreement remain unchanged and fully applicable.
			
	Opgemaakt te
                                         
       , op                     , in twee originele exemplaren, waarvan elke partij erkent een origineel
exemplaar te hebben ontvangen.	 		  	Drawn up in
                                        ,
on                     , in two original copies, each party acknowledging receipt of an original copy.
			
	 	 		  	 
	 Voor de Werkgever,
 Naam : 

Functie : 
	 		  	 For the Employer,
 Name : 

Function : 

  
 3 

					
			
	 	 		  	 
	 De Werknemer
 Naam : Jack (Jacobus Antonius
Johannes) Govers
	 		  	 The Employee
 Name : Jack (Jacobus Antonius
Johannes) Govers

			
	[Gelieve elke bladzijde te paraferen en uw handtekening te laten voorafgaan door de handgeschreven vermelding “gelezen en goedgekeurd”]	 		  	[Please initial each page and precede your signature with the hand-written words “read and approved”]

  
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