Document:

EX-10.1

 Exhibit 10.1 
 SEVERANCE PAY PLAN DOCUMENT 
 AND SUMMARY PLAN DESCRIPTION 

FOR 

2012 CONVERGYS CORPORATION SENIOR EXECUTIVE SEVERANCE PAY PLAN 

This is a combined Plan and Summary Plan Description of the 2012 Convergys Corporation Senior Executive Severance Pay Plan (the
“Plan”) as approved by the Compensation and Benefits Committee of the Convergys Corporation Board of Directors (the “Board”) effective as of October 22, 2012 (the “Effective Date”). It explains whether you are
eligible to receive severance benefits, and if so, how benefits will be calculated and paid. The Plan became effective on the Effective Date and replaces, for each Eligible Employee (as defined herein), unless specifically exempted as of the
Effective Date, any and all prior policies, plans and arrangements (whether written or unwritten), including, but not limited to, the Convergys Corporation Severance Pay Plan adopted by the Company on December 9, 2008 (the “2008
Plan”), the 2011 Convergys Corporation Severance Pay Plan (the “2011 Plan”), and any change of control agreements, to the extent that such policies, plans and arrangements provide for payments to be made after termination of
employment directly by the Employer other than pursuant to an Employer retirement plan or arrangement or any individual employment, severance, or change of control arrangement between the Employer and the Employee. Notwithstanding the foregoing,
individuals who were eligible for benefits under the 2008 Plan or the 2011 Plan on the Effective Date as a result of a qualifying termination of employment on or prior to the Effective Date shall be covered under the 2008 Plan or the 2011 Plan, as
applicable, and shall not be eligible to participate in, and shall not be eligible to receive any benefits under, the Plan. 

The adoption and continuation of the Plan are voluntary on the part of the Company and the Employer and are not intended to create any
contract of employment. This Plan is a welfare plan under the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder (“ERISA”). This Plan shall continue in effect until terminated by the
Board pursuant to the terms and conditions of Section 7.1. 
 SECTION 1 

PURPOSE OF THE PLAN 
 The purpose of this Plan is to provide financial assistance to employees whose termination is described within the terms and conditions of the Plan. The benefits of this Plan are designed to help
terminated Eligible Employees economically during the period immediately following termination and while they seek alternative employment. It is not intended to imply that severance benefits will be offered to any employee whose employment is
terminated by voluntary resignation, for Cause as defined by the Plan, by retirement, or for any other circumstance of termination other than as specifically described herein. 

 SECTION 2 
 DEFINITIONS 
 As used in this Plan, the following terms, when capitalized,
shall have the meanings given below: 
 2.1 “Base Pay” shall mean base pay on the Termination Date without
regard to commissions, overtime or bonus (unless specifically stated otherwise). 
 2.2 “Cause” shall mean the
Employee has engaged in any of the following: (a) willful misconduct or gross negligence in the performance of any of the Employee’s duties to the Company, which would reasonably be expected to result in a material liability to the
Company; (b) intentional failure or refusal to perform reasonably and lawfully assigned duties; (c) any indictment for, conviction of, or plea of guilty or nolo contendere to, any crime (whether or not a felony) involving dishonesty,
fraud, theft, breach of trust, violence or threats of violence or other significant offenses or acts; or (d) any willful failure to comply with any material written rules, regulations, policies or procedures of the Company, including the Code
of Business Conduct as amended from time to time. 
 2.3 “Change of Control” shall mean the occurrence of any of
the following events: 
 (a) Any individual, entity or group (within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either
(A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the
election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this Section 2.3, the following acquisitions shall not constitute a Change of Control: (1) any acquisition directly
from the Company, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity which controls, is controlled by or is under common control with
the Company or (4) any acquisition pursuant to a transaction that complies with Sections 2.3(c)(1), 2.3(c)(2) and 2.3(c)(3); 
 (b) Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any
individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be
considered as though such individual was a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the
election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; 

  
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 (c) Consummation of a reorganization, merger, statutory share exchange or
consolidation or similar transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or securities of another entity by the Company
or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (1) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock (or, for a non-corporate entity,
equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity
resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries)
in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (2) no Person (excluding any
entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the
then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) of the entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such entity, except to
the extent that such ownership existed prior to the Business Combination, and (3) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such
Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or 

(d) Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

2.4 “Code” means the Internal Revenue Code of 1986, as amended. 

2.5 “Company” means Convergys Corporation (and any successor or assign pursuant to the terms and conditions of
Section 9.11). 
 2.6 “Eligible Employee” shall have the meaning given in Section 3.1. 

2.7 “Employee” means any person who works and resides in the United States at the role/level of F or above and is
classified by an Employer as an employee for tax reporting of wages (which would not include those who are classified by the Employer as independent contractors or those on the payroll of others who work for the Employer for a period of time),
including officers, but not including (a) directors who are not otherwise employed by an Employer, (b) employees as classified on an Employer’s payroll as temporary, seasonal, student, or part time, or (c) any employee whose
employment is, or becomes, the subject matter of a 

  
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collective bargaining agreement between employee representatives and the Employer unless such collective bargaining agreement expressly provides that such person is eligible for participation in
the Plan. Any individual not treated as an employee for tax reporting of wages by an Employer, who subsequently is reclassified as an employee for tax reporting of wages, shall nonetheless be precluded from participating in the Plan for the period
during which the individual was originally not classified as an employee. For purposes of this definition, a “temporary” employee is any employee hired for a specific period of time or for the duration of a specific assignment or project,
and “student” employee will mean any person hired on a temporary basis while actively enrolled as a full or part-time student in college, university or graduate school. On and following a Change of Control, whether a person is an Employee
shall be determined based on the person’s status immediately prior to the Change of Control. 
 2.8
“Employer” means the Company and its affiliates that provide this Plan for their employees, provided that all affiliates participate subject to the right of the Company to exclude or remove them. 

2.9 “Good Reason” shall mean, without the Employee’s prior written consent, (a) a material reduction in the
Employee’s base salary or incentive compensation opportunity or the failure to pay the Employee such base salary or earned incentive compensation amounts or, except, prior to a Change of Control, for across-the-board reductions that apply to
employees of the same or similar rank, title, or position generally, a material reduction in the aggregate level of the Employee’s benefits or the failure to provide the Employee with any such benefits, (b) a material diminution to the
Employee’s authorities, duties, responsibilities or reporting relationships or the assignment to the Employee of duties that are materially inconsistent with the Employee’s position, or (c) the relocation of the Employee’s
principal place of business to a location that is outside the 50-mile radius from the Employee’s then-current principal place of business; provided that, following such breach as described in any of clauses (a) through (c) above,
(x) the Employee notifies the Company, in writing, within 60 days of the occurrence of such breach, (y) the Company fails to cure such event within 30 days after receipt of such written notice, and (z) the Employee resigns within 60
days of the conclusion of such cure period. 
 2.10 “Plan Administrator” has the meaning given in
Section 5. 
 2.11 “Termination Date” means the date the Employee experiences a “separation from
service” within the meaning of Section 409A of the Code. 
 SECTION 3 

PARTICIPATION 
 3.1 Eligibility. Each Employee is eligible to participate in this Plan if the Employee’s employment is terminated under circumstances described in Section 3.2 (each, an “Eligible
Employee”). Benefits will be paid hereunder only if the Eligible Employee complies with Section 3.3. 
 3.2 Covered
Events of Termination. An Employee for whom there is a Termination Date shall become an “Eligible Employee” within the meaning of this Plan if the Employee’s employment: 

  
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 (a) Has terminated by reason of the Employee’s resignation for Good
Reason; 
 (b) Has been terminated without Cause, including as a result of a reduction in force; or 

(c) Has been terminated under any of the circumstances described in clauses (a) or (b) above in anticipation of,
and within six months prior to, a Change of Control. 
 Notwithstanding the foregoing, an Employee shall not become an Eligible Employee, and
shall not be entitled to any benefits under this Plan, in the event of a termination of employment by reason of (i) the Employee’s death or Disability, (ii) non-Cause performance reasons, as determined by the Company in its sole
discretion, provided that the Termination Date occurs prior to a Change of Control, or (iii) an asset divestiture or sale of a subsidiary. 
 3.3 Release Requirement; Return of Property. As a condition of receiving Severance Pay and any benefits pursuant to this Plan, Eligible Employees must execute a Separation Agreement and General
Release prepared by the Employer in its sole and absolute discretion from time to time that (i) in the discretion of the Plan Administrator, may include non-competition, non-solicitation and other post-employment restrictive covenants, and
(ii) shall require the Eligible Employee to release all prior or then-present claims against the Employer, its affiliates, and their respective employees and directors, including any claims arising from the Eligible Employee’s employment
and termination of employment (the “Release”). Notwithstanding the foregoing, in the event of a termination on or following a Change of Control, the Release shall be the form attached hereto as Exhibit A. No payment shall be made to the
Eligible Employee under this Plan unless the Eligible Employee has signed and returned the Release to the Company and the Release has become effective and irrevocable in accordance with its terms, no later than the date that is 55 calendar days
following the Termination Date (the “Release Deadline”). 
 In addition to signing the Release, all Employer equipment
or property in the possession of the Eligible Employee, including but not limited to Employer credit cards, keys, identification badges, security cards, laptop computers, cellular telephones, parking passes and other electronic equipment, must be
returned to the Employer and all personal belongings should be removed from the Eligible Employee’s office or work space no later than seven days after the Employee’s Termination Date. Eligible Employees may arrange with the Human
Resources Department of the Company a mutually convenient time to return Employer property and pick up personal effects. 

SECTION 4 

BENEFITS 

4.1 Amount of Benefit. An Eligible Employee who meets the conditions set forth in Section 3 shall receive cash severance pay
(“Severance Pay”) and other benefits as set forth in the following Schedules A, B and C, as applicable. 

  
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 Schedule A: 

For terminations of employment that make an Employee an Eligible Employee pursuant to Section 3.2 (excluding terminations of
employment (i) related to a Change of Control as described in Section 3.2(c), or (ii) that would otherwise make an Employee an Eligible Employee pursuant to Section 3.2 but occur upon or during the two-year period immediately
after a Change of Control), the following schedule and terms apply: 
  

					
	 Level/Role
	  	 Cash1
	  	 Equity

			
	 All participants
	  	Pro-rated AIP2	  	Terms and conditions of the applicable plan documents apply.
			
	 CEO/CFO
	  	2 year Base Pay + 2 year target AIP3	  	
			
	 G level (other than CEO/CFO)
	  	1 year Base Pay + 1 year target AIP3	  	
			
	 F
	  	12 months of Base Pay	  	

  
  

	1 	 Eligible Employees, for the period for which severance is calculated, will be able to continue paying the employee rate for medical, dental and vision
benefits provided to the Eligible Employee on the Termination Date if the Eligible Employee timely elects COBRA coverage. The portion of the COBRA premium that the Employer pays will be taxable to the Eligible Employee to the extent required by law.

	2 	 The pro-rated Annual Incentive Plan (“AIP”) equals the annual incentive under the AIP for the fiscal year during which the Termination Date
occurs, determined as if the Eligible Employee had remained employed for the entire year (and any additional period of time necessary to be eligible to receive the annual incentive for the year), based on actual Company performance during the entire
fiscal year and without regard to any discretionary adjustments that have the effect of reducing the amount of the annual incentive (other than discretionary adjustments applicable to all senior executives who did not terminate employment), and
assuming that any individual goals applicable to the Eligible Employee were satisfied at the “target” level, pro-rated based on the number of days in the Company’s fiscal year through (and including) the Termination Date. The
pro-rated AIP shall be payable in a single lump sum at the same time that payments are made to other participants in the AIP for that fiscal year (pursuant to the terms of the AIP but in no event later than two and one-half months after the fiscal
year during which the Termination Date occurs). 

	3 	 The target AIP shall equal the Eligible Employee’s target AIP for the year in which the Termination Date occurs. 

  
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 Schedule B: 

For terminations that make an Employee an Eligible Employee pursuant to Section 3.2(c) or for terminations described in
Section 3.2(a) or (b) that occur upon or during the two-year period immediately following a Change of Control, the following schedule and terms apply: 
  

					
	 Level/Role
	  	 Cash1
	  	 Equity

			
	 All participants
	  	Pro-rated target AIP2	  	Terms and conditions of the applicable plan documents apply.
			
	 CEO/CFO and other G level
	  	2 year Base Pay + 2 year target AIP3	  	
			
	 F
	  	12 months of Base Pay	  	

  
  

	1 	 Eligible Employees, for the period for which severance is calculated, will be able to continue paying the employee rate for medical, dental and vision
benefits provided to the Eligible Employee on the Termination Date if the Eligible Employee timely elects COBRA coverage. The portion of the COBRA premium that the Employer pays will be taxable to the Eligible Employee to the extent required by law.

	2	 The pro-rated
target AIP equals the Eligible Employee’s target AIP for the year in which the Termination Date occurs pro-rated based on the number of days in the Company’s fiscal year through (and including) the Termination Date.

	3 	 The target AIP shall equal the Eligible Employee’s target AIP for the year in which the Termination Date occurs. 

  
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 Schedule C: 

For all of the above terminations noted in Schedules A and B, the following schedule applies as to the amount of outplacement services
offered for each level: 
  

			
	 Level
	  	 Service

	All participants	  	Three month program*

  
  

	* 	 Maximum = $20,000 per Eligible Employee; service must be commenced within 90 days of Termination Date. Services must be obtained, unless specifically
noted otherwise in the Plan, through an approved vendor of the Company and all provided by the end of the year after the year in which the Termination Date occurs. 

  
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 4.2 Limitations of Benefits: This Plan is in lieu of any other severance, separation,
termination or change of control plan or program and not in addition to any amounts due under any other such plan, program or agreement between the Employer and an Employee. The benefits payable hereunder will be reduced dollar for dollar for any
amounts payable under any other such arrangement to the extent consistent with Section 409A of the Code. Under no circumstances will an Employee who participates in this Plan be eligible to participate in the 2008 Plan, the 2011 Plan or the
2012 Convergys Corporation General Severance Pay Plan. Other arrangements may, however, reference this Plan with regard to the time and process for payment of severance benefits. 

4.3 Payment of Benefits. Except as otherwise provided in the applicable Schedule, Severance Pay provided under this Plan shall be
paid in a single lump sum on the first payroll date that occurs more than 6 months after the Termination Date, provided that the Eligible Employee has signed, returned to the Company and not revoked the Release pursuant to the terms and conditions
described in Section 3.3. Any payment under this Plan shall be net of (i) prior to a Change of Control only, any outstanding loans, debts, travel advances, or charges for Company property that has not been returned by the date that payment
begins (provided that this shall apply only to payments that are exempt from or otherwise not deferred compensation subject to Section 409A of the Code), and (ii) any tax withholding or other payroll deductions authorized by the Employee
or required by federal, state, local or other applicable payroll laws. In the event of the Eligible Employee’s death prior to payment under this Plan, payment of benefits will be made to the surviving spouse, if any, and if none, to the
Eligible Employee’s estate. 
 In the event that a nationally recognized accounting firm as may be selected by the Company
prior to a Change of Control (the “Accounting Firm”) determines that receipt of any payments, benefits, and accelerated vesting of benefits or awards that were received pursuant to this Plan or otherwise constitute a “parachute
payment” (within the meaning of Section 280G(b)(2) of the Code and the regulations promulgated thereunder) to or for the benefit of the Eligible Employee, whether paid or payable pursuant to this Plan or otherwise (“Payments”),
would subject the Eligible Employee to the excise tax imposed by Section 4999 of the Code (together with any interest or penalties imposed with respect to such excise tax, the “Excise Tax”), the Accounting Firm shall determine whether
to reduce any of the Severance Pay paid or payable pursuant to this Plan (the “Plan Payments”) , on a pro-rata basis, so that the Parachute Value (as defined below) of all Payments, in the aggregate, equals the Safe Harbor Amount (as
defined below). The Plan Payments shall be so reduced only if the Accounting Firm determines that the Eligible Employee would have a greater Net After-Tax Amount (as defined below) of aggregate Payments if the Plan Payments were so reduced. If the
Accounting Firm determines that the Eligible Employee would not have a greater Net After-Tax Amount of aggregate Payments if the Plan Payments were so reduced, the Eligible Employee shall receive all Plan Payments to which the Eligible Employee is
entitled hereunder. 
 For purposes of this Plan: (i) “Parachute Value” of a Payment shall mean the present value
as of the date of the change in the ownership of effective control of the Company or in the ownership of a substantial portion of the assets of the Company (within the meaning of Section 280G(b)(2) of the Code and the regulations promulgated
thereunder) of the portion of such Payment that constitutes a “parachute payment” (within the meaning of Section 280G(b)(2) of 

  
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the Code and the regulations promulgated thereunder), as determined by the Accounting Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment;
(ii) “Net After-Tax Amount” of a Payment shall mean the Parachute Value of a Payment net of all taxes imposed on the Eligible Employee with respect thereto under Sections 1 and 4999 of the Code and applicable state and local
laws, determined by applying the highest marginal rates that are expected to apply to Eligible Employee’s taxable income for the taxable year in which the Payment is made; and (iii) “Safe Harbor Amount” shall mean the maximum
Parachute Value of all Payments that the Eligible Employee can receive without any Payments being subject to the Excise Tax. 

4.4 Funding. The Employer will pay benefits from its general assets. No specific amount shall be set aside in advance for this
purpose. Eligible Employees shall be unsecured general creditors of the Employer for purposes of benefits due hereunder. 
 4.5
Termination of Benefits. Notwithstanding anything contained herein to the contrary, if an Employee is rehired by Employer in a position commensurate with Employee’s experience and training, such Employee’s benefit shall cease as of
his date of rehire and no further benefits shall be owed under the Plan. If the Employer reasonably determines that an Employee is violating the terms of any confidentiality, invention assignment, noncompetition, nonsolicitation or other obligation
to which the Employee is otherwise subject, the Employer may cease future payments to be made hereunder. 
 4.6 Full
Settlement. Following a Change in Control, the Company’s obligation to make the payments provided for in this Plan and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or
other claim, right or action that the Company may have against an Employee or others. In no event shall an Employee be obligated to take any action by way of mitigation of the amounts payable to such Employee under any of the provisions of this
Plan. 
 4.7 Continued Eligibility to Participate in Company Plans. Except as provided otherwise in Section 4.2,
nothing in this Plan shall prevent or limit an Employee’s continuing or future participation in any plan, program, policy or practice provided by the Company or an affiliate, nor shall anything herein limit or otherwise affect such rights as an
Employee may have under any other contract or agreement with the Company or any of its affiliates. Amounts that are vested benefits or that an Employee and/or an Employee’s dependents are otherwise entitled to receive under any plan, policy,
practice, program, agreement or arrangement of the Company or any of its affiliates shall be payable in accordance with such plan, policy, practice, program, agreement or arrangement. 

SECTION 5 

ADMINISTRATION 
 5.1 Plan Administrator and Named Fiduciary. The Company may appoint a committee, that shall be known as the “Administrative Committee” to carry out the Plan Administrator’s
responsibilities under this Plan, and the term “Plan Administrator” as used in this Plan shall mean the Administrative Committee. If the Company does not appoint an Administrative Committee, the Compensation and Benefits Committee shall be
the Plan 

  
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Administrator for all purposes. The Plan Administrator shall have authority to control and manage the operation and administration of this Plan. The Plan Administrator may adopt such rules and
regulations and may make such decisions as it deems necessary or desirable for the proper administration of the Plan. 
 5.2
Plan Information. Benefit claims and questions regarding the Plan and the administration of the Plan should be addressed to: 
 Plan Administrator – Severance Pay Plan 
 Convergys Corporation 

201 East Fourth Street 
 Cincinnati, Ohio 45202 
 with a copy to the Company’s General Counsel at the same address. The
Company’s telephone number is (513) 723-7000. The Company’s General Counsel is the agent for service of legal process on the Plan. The Company’s Employer Identification Number is 31-1598292. The plan number for this Plan is 506.
The Plan is a severance pay plan with a calendar plan year. 
 5.3 Administrative Discretion. The Plan Administrator shall
have complete discretion to interpret where necessary all provisions of the Plan (including, without limitation, by supplying omissions from, correcting deficiencies in, or resolving inconsistencies or ambiguities in, the language of the Plan), to
make factual findings with respect to any issue arising under the Plan, to determine the rights and status under the Plan of Eligible Employees or other persons, to resolve questions (including factual questions) or disputes arising under the Plan
and to make any determinations with respect to the benefits payable under the Plan and the persons entitled thereto as may be necessary for the purposes of the Plan. Without limiting the generality of the foregoing, the Plan Administrator is hereby
granted the authority (i) to determine whether a particular Employee is an Eligible Employee, and (ii) to determine if a person is entitled to benefits hereunder and, if so, the amount and duration of such benefits. The Plan
Administrator’s determination of the rights of any person hereunder shall be final and binding on all persons. 
 SECTION
6 
 CLAIMS PROCEDURES 
 6.1 Filing a Claim. If an Employee is denied benefits under the Plan, he or she may file a written claim for benefits with the claims administrator designated by the Plan Administrator in
accordance with the procedures established by the Plan Administrator (the “Claims Administrator”). 
 6.2 Denial of
Claim. If an Employee’s claim for benefits is wholly or partially denied by the Claims Administrator, a written or e-mail notice of such decision shall be furnished by the Claims Administrator to the claimant within 90 days of receipt of
the claim unless special circumstances require an extension of time for processing the claim (but the extension may not be for more than an additional 90 days) and shall set forth: 

(a) The specific reason or reasons for denial; 

(b) A reference to pertinent Plan provisions on which the denial is based; 

  
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 (c) A description of any additional material or information necessary for
the claimant to perfect the claim and an explanation of the claims review procedure set forth in this Section; and 
 (d) The steps the claimant can take to ask for a review of the decision, the deadline for the request, and the claimant’s right to bring a civil action under ERISA if the claim is denied on review.

 If notice of denial of the claim is not furnished within a reasonable period of time, the claim shall be deemed denied. If circumstances
necessitate an extension of the 90-day period for decision on a claim, the Claims Administrator will notify the claimant before the end of the initial 90-day period of the extension and when a decision is expected. 

6.3 Claims Review Procedure. If an Employee who has been denied a claim files, within 60 days after its receipt of such denial, a
written request for review, setting forth the alleged reasons why his or her claim was improperly denied, the Plan Administrator shall fully and fairly review such decision and advise the claimant in writing of its decision and the reasons therefor
within 60 days after the Plan Administrator receives such request for review. The claimant may also request in writing reasonable access to or copies of the legal Plan text and all other documents, records and other information relevant to the claim
for benefits. Such access or copies will be provided upon request and free of charge. The review of a denied claim will take into account all comments, documents, records and other information submitted by the claimant related to the claim, even if
that information was submitted after the initial claim denial. In connection with such review, the claimant shall have the right to have representation. 
 In the event of special circumstances, the time for response may be delayed for an additional period of up to 60 days, but written notice thereof must be given to the claimant within the initial 60-day
period of the special circumstances and the date the claimant may expect to receive a decision on appeal. The decision on appeal will contain: 
 (a) Specific reasons for the denial; 
 (b) Specific references to
the Plan provisions on which the denial is based; 
 (c) A statement that the claimant will be provided with,
upon reasonable request, reasonable access to, and copies of, all documents, records and other information relevant to the claim; and 
 (d) A statement of the claimant’s right to bring a civil action for benefits. 

Notwithstanding the foregoing terms and conditions of Section 6, following a Change of Control, the claims and appeals procedure established by the
Plan Administrator will be provided for the use and benefit of Employees who may choose to avail themselves of such procedures, but compliance with the provisions of these claims and appeals procedures by an Employee will not be mandatory for any
Employee claiming benefits after a Change of Control. It will not be necessary for any Employee to exhaust these procedures and remedies after a Change of Control prior to bringing any legal claim or action, or asserting any other demand, for
payments or other benefits to which such Employee claims entitlement. 

  
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 6.4 Judicial Review. Prior to a Change of Control, decisions on a claim on appeal are final and
binding on the Plan and on the Eligible Employee unless a court having appropriate jurisdiction finds that the decision was arbitrary and capricious, based on the record prepared during the Plan’s claims review process. On and following a
Change of Control, decisions on a claim on appeal shall be subject to de novo review by a court having appropriate jurisdiction. The Company and any person acting in a fiduciary capacity at the direction of the Company shall have the maximum legal
discretion to make decisions concerning the operation and administration of the Plan including, but not limited to, the provision or denial of benefits. 
 SECTION 7 
 AMENDMENT AND TERMINATION OF PLAN 

7.1 Employer’s Right to Amend or Terminate. The Employer reserves the right to amend or terminate this Plan at any time, in
whole or in part, with respect to any Eligible Employee who is not eligible for Severance Pay or benefits pursuant to Section 3.2 of the Plan at that time. No amendment or termination of this Plan may be made that adversely affects the benefits
to be provided to Employees hereunder within the 180-calendar-day period before a Change of Control, and the Plan may not be amended or terminated during the two-year period following a Change of Control. 

7.2 Effective Date of Amendment or Termination. Any amendment, discontinuance or termination of the Plan shall be effective as of
the date determined by the Employer, but not retroactively. 
 7.3 Actions by Employer. Any action required by the
Employer under this Section 7 may be by resolution of the Board or a committee of the Board, or by any officer or other person with authorization from the Board or such committee. 

SECTION 8 

ADDITIONAL RIGHTS UNDER THE PLAN 
 An Eligible Employee in the Plan is entitled to certain rights and protections under ERISA. ERISA provides that all Eligible Employees shall be entitled to: 

(a) Examine, without charge, at the Plan Administrator’s office and at other specified locations, such as worksites,
all documents governing the Plan, including insurance contracts and collective bargaining agreements, and a copy of the latest annual report (Form 5500 series) filed by the Plan with the U.S. Department of Labor and available at the Public
Disclosure Room of the Pension and Welfare Benefit Administration. 
 (b) Obtain, upon written request to the
Plan Administrator, copies of documents governing the operation of the Plan, including insurance contracts and collective bargaining agreements, and copies of the latest annual report (Form 5500 series) and updated summary plan description. The Plan
Administrator may make a reasonable charge for the copies. 

  
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 (c) Receive a summary of the Plan’s annual financial report. The Plan
Administrator is required by law to furnish each Eligible Employee with a copy of the summary annual report. 
 In addition to
creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit Plan. The people who operate your Plan, called “fiduciaries” of the Plan, have a duty to do so
prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a welfare benefit or
exercising your rights under ERISA. 
 If your claim for a welfare benefit is denied or ignored, in whole or in part, you have a
right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents or the latest annual report from the Plan and do not receive them within 30
days, you may file suit in a Federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons
beyond the control of the Plan Administrator. If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or Federal court. If it should happen that plan fiduciaries misuse the Plan’s money or
you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a Federal court. The court will decide who should pay court costs and legal fees. If you are successful the
court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous. 

If you have any questions about your Plan, you should contact the Plan Administrator. If you have any questions about this statement or
about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest office of the Pension and Welfare Benefits Administration, U.S. Department of Labor, listed in your telephone
directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights
and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration. 

SECTION 9 

GENERAL PROVISIONS 
 9.1 Not an Employment Contract. Neither this Plan nor any action taken with respect to it shall confer upon any person the right to continued employment with the Employer. 

9.2 Other Employee Benefit Plans. The provisions of this Plan shall be construed and applied independently of any other benefit
plan the Employer may provide to Employees. 

  
 -14-

 
Benefits received under this Plan will not be counted as wages or compensation for pension or other retirement benefits of the Employer. 

9.3 Inability to Locate Payee. If the Plan Administrator is unable to make payments to any Employee or other person to whom a
payment may be due under the Plan because he or she cannot ascertain the identity or whereabouts of such Employee or other person after reasonable efforts have been made to identify or locate such person (including a notice of the payment so due
mailed to the last known address of such Employee or other person as shown on the records of the Employer), any obligation the Employer may have had under this Plan will cease twelve months after the Employee’s Termination Date. 

9.4 Requirement for Proper Forms. All communications in connection with the Plan made by an Eligible Employee shall become
effective only when duly executed on any forms as may be required and furnished by, and filed with, the Plan Administrator. 

9.5 Non-Assignability. This Plan, and the rights, interest and Benefits receivable under it shall not be assigned, transferred,
pledged, sold, conveyed or encumbered in any way by the Eligible Employee and shall not be subject to execution, attachment or similar process. Any attempted sale, conveyance, transfer, assignment, pledge or encumbrance of any rights, interest or
benefit receivable under this Plan, contrary to the foregoing provisions, or the levy of any attachment or similar process thereupon, shall be null and void and without effect. 
 9.6 Gender or Number. Masculine pronouns include the feminine as well as the neuter genders, and the singular shall include the plural, unless indicated otherwise by the context. 

9.7 Headings. The Section headings contained herein are for convenience of reference only, and shall not be construed as defining
or limiting the matter contained thereunder. 
 9.8 Governing Law. To the extent this Plan is not governed by federal law,
the provisions of this Plan shall be construed and applied in accordance with the laws of the State of Ohio. 
 9.9
Severability. If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability shall not affect any other provisions of the Plan, and the Plan shall be construed and enforced as if such provision had not been
included in the Plan. 
 9.10 Application of Section 409A of the Code. It is intended that the payments and benefits
provided under the Plan will be exempt from the application of, or comply with, the requirements of Section 409A of the Code. This Plan will be construed, administered, and governed in a manner that effects such intent to the greatest extent
possible, and neither the Company nor its successor will take any action that would be inconsistent with such intent. Although the Company will use its best efforts to avoid the imposition of taxation, interest and penalties under Section 409A
of the Code, the tax treatment of the payments and benefits provided under the Plan is not warranted or guaranteed. Neither the Company, its affiliates nor their respective directors, officers, employees or advisers shall be held liable for any
taxes, 

  
 -15-

 
interest, penalties or other monetary amounts owed by an Employee (or any other individual claiming a benefit through an Employee) as a result of the Plan. 

9.11 Successors and Assigns. This Plan shall inure to the benefit of and be binding upon the Company and its successors. The
Company shall require any corporation, entity, individual or other Person who is the successor (whether direct or indirect by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all the business and/or assets of the
Company to expressly assume and agree to perform, by a written agreement in form and in substance satisfactory to the Company, all of the obligations of the Company under this Plan. As used in this Plan, the term “Company” shall mean the
Company as hereinbefore defined and any successor to its business and/or assets as aforesaid that assumes and agrees to perform this Plan by operation of law, written agreement or otherwise. It is a condition of this Plan, and all rights of each
Employee to receive benefits under this Plan shall be subject hereto, that no right or interest of any such person in this Plan shall be assignable or transferable in whole or in part, except by operation of law, including, but not limited to,
lawful execution, levy, garnishment, attachment, pledge, bankruptcy, alimony, child support or qualified domestic relations order. 

  
 -16-Settlement Agreement

 Exhibit 10(a) 
 SETTLEMENT AGREEMENT 
 This Settlement Agreement (“Settlement
Agreement”) is made as of the 9th day of October, 2012, by and between Aluminium Bahrain B.S.C., a company organized under the laws of the Kingdom of Bahrain, the shares of which are majority owned by the Government of Bahrain’s state
holding company, the Mumtalakat Holding Co., B.S.C. (“Alba”), Alcoa Inc., a corporation organized under the laws of Pennsylvania, U.S.A. (“Alcoa”), Alcoa World Alumina LLC, a limited liability company organized under the laws of
Delaware, U.S.A. (“AWA”) and William Rice, a citizen of the United States (“Rice”) (Alcoa, AWA and Rice collectively referred to as the “Alcoa Parties”) (Alba, Alcoa, AWA and Rice may each be referred to as a
“Party”, or collectively as the “Parties”). 
 WHEREAS Alba and the Alcoa Parties are parties to an action
in the U.S. District Court for the Western District of Pennsylvania, under the caption Aluminium Bahrain B.S.C. v. Alcoa Inc., Alcoa World Alumina LLC, William Rice and Victor Dahdaleh, No. 2:08-CV-00299 (DWA) (the
“Litigation”); 
 WHEREAS the Parties hereto wish to enter into this Settlement Agreement to avoid further litigation
expenses and disruption, and to settle their differences with respect to all claims and defenses pleaded or that could have been pleaded in the above-listed action, and all other disputes relating thereto, subject to and upon the terms and
conditions set forth in this Settlement Agreement, with no admission of liability by any Party; and 

 NOW, THEREFORE, in consideration of the mutual promises and undertakings set forth herein,
the receipt and sufficiency of which are hereby mutually acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows: 
 1. Definitions: For purposes of this Settlement Agreement, the terms defined in this Article shall have the meaning specified and shall be applicable to both the singular and plural forms.

 (A) “Affiliate” shall mean: 

(1) any Entity, whether now existing or created in the future, that in whatever country organized or resident, directly,
or indirectly through one or more intermediaries, is controlled by, or is under common control with, or controls, or shares control of, a Party; or 
 (2) any Entity, whether now existing or created in the future, in which any Party or Entity recited in the preceding paragraph (1) directly, or indirectly through one or more intermediaries has at
least a fifty percent (50%) ownership or voting rights interest (whether through stock ownership, stock power, voting proxy, or otherwise) or has the maximum ownership interest it is permitted to have in the country where such Entity exists.

 (B) “Dahdaleh” shall mean Victor P. Dahdaleh and his Affiliates, Entities, predecessors,
successors, privies, heirs, executors, administrators and assigns and any member, partner, employee, agent, attorney, privy or representative of his Affiliates, Entities, predecessors, successors, privies, heirs, executors, administrators and
assigns. 

  
 2 

 (C) “Entity” shall mean any corporation, firm,
partnership, proprietorship or other form of business organization. 
 (D) “Klaveness” shall
mean Torvald Klaveness, The Torvald Klaveness Group, and each of their Affiliates, respective Entities, predecessors, successors, privies, heirs, executors, administrators and assigns, and any member, partner, employee, agent, attorney, privy or
representative of its Affiliates, Entities, predecessors, successors, privies, heirs, executors, administrators and assigns, including, without limitation, Trond Harald Klaveness and Tom Erik Klaveness and each of their heirs, representatives,
employees and agents. 
 2. Dismissal of the Litigation: Simultaneous with the execution and delivery of
this Settlement Agreement, the Parties shall execute and file with the U.S. District Court for the Western District of Pennsylvania a Stipulation of Dismissal with Prejudice, (the form of which is attached hereto as Exhibit A), thereby dismissing
with prejudice the Litigation as to the Alcoa Parties. Each Party shall bear its own costs and legal fees incurred in the Litigation as between the Parties. 
 3. Agreement Among the Parties: AWA shall pay $85 million to Alba by confirmed bank wire transfer to the account information provided in Schedule 1, attached hereto, according to the following
schedule: 
 (A) $42.5 million simultaneously with the execution and delivery of this Settlement Agreement, and 

(B) an additional $42.5 million, without interest or contingency, upon the first anniversary of the execution of this Settlement
Agreement. AWA agrees to make 

  
 3 

 
this payment without interest, any further condition of any kind being satisfied, or any additional performance being rendered by Alba, provided, that if AWA shall fail to timely make any payment
due under the terms of this Agreement, Alcoa covenants and agrees to immediately (i) cause AWA to fully and completely pay such amount or (ii) cause another subsidiary, affiliate or joint venture or other entity under control of Alcoa, to
fully and completely pay such amount. 
 4. Releases: The Parties each agree to the following releases,
which shall be effective upon the payment of the $42.5 million immediately due upon execution of this Agreement from AWA to Alba in accordance with Section 3 hereof and the filing of the Stipulation of Dismissal with Prejudice in the Litigation
in accordance with Section 2 hereof. 
 (A) Except as set forth in subparagraph (C) below, Alba, on
behalf of itself and its current or former Affiliates, advisors, parents, subsidiaries, stockholders, predecessors, successors, privies, heirs, executors, administrators, and assigns and its and their current and former respective members, partners,
directors, officers, employees, agents, attorneys, servants, auditors, insurers, custodians, privies and representatives (the “Alba Releasors”) does hereby release and discharge, and covenant not to sue, Alcoa Inc., Alcoa World Alumina LLC
and each of their current or former Affiliates (including, but not limited to, Alcoa World Alumina & Chemicals, Alcoa of Australia Ltd. and Alumina Ltd.), advisors, parents, subsidiaries, stockholders, predecessors, successors, privies,
heirs, executors, administrators, and assigns and their respective current and former members, partners, directors, officers, employees (including, but not limited to, William Rice), agents, attorneys, servants, auditors, insurers, custodians,
privies and 

  
 4 

 
representatives, from all actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises,
variances, trespasses, damages, judgments, extents, executions, claims, complaints and demands whatsoever, in law, admiralty, equity or otherwise, including any and all claims, rights or causes of action for contribution, indemnification or
reimbursement, wherever those claims, rights or causes of action for contribution, indemnification or reimbursement may be brought, that the Alba Releasors ever had, now have or hereafter can, shall or may have, individually, representatively,
derivatively or in any other capacity, for, upon, or by reason of any matter, cause or things whatsoever, whether currently known or unknown, foreseen or unforeseen, matured or unmatured, accrued or not accrued, suspected or unsuspected, fixed or
contingent, and whether or not concealed or hidden, prior to and including the date of this Settlement Agreement, arising from, or in connection with, or relating in any way to the subject matter of the Litigation, including but not limited to the
contractual and business relationships and arrangements which were the subject of the Litigation. 
 (B) Except
as set forth in subparagraph (C) below, Alcoa Inc., Alcoa World Alumina LLC and each of their current or former Affiliates (including, but not limited to, Alcoa World Alumina & Chemicals, Alcoa of Australia Ltd. and Alumina Ltd.),
advisors, parents, subsidiaries, stockholders, predecessors, successors, privies, heirs, executors, administrators, and assigns and their current and former respective members, partners, directors, officers, employees (including, but not limited to,
William Rice), agents, attorneys, servants, auditors, insurers, custodians, privies and representatives (the “Alcoa Releasors”), do hereby release and discharge, and covenant 

  
 5 

 
not to sue, Alba and its current or former Affiliates, advisors, parents, subsidiaries, stockholders, predecessors, successors, privies, heirs, executors, administrators, and assigns and its and
their respective members, partners, directors, officers, employees, agents, attorneys, servants, auditors, insurers, custodians, privies and representatives, from all actions, causes of action, suits, debts, dues, sums of money, accounts,
reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, complaints and demands whatsoever, in law, admiralty, equity or otherwise,
including any and all claims, rights or causes of action for contribution, indemnification or reimbursement, wherever those claims, rights or causes of action for contribution, indemnification or reimbursement may be brought, that the Alcoa
Releasors ever had, now have or hereafter can, shall or may have, individually, representatively, derivatively or in any other capacity, for, upon, or by reason of any matter, cause or things whatsoever, whether currently known or unknown, foreseen
or unforeseen, matured or unmatured, accrued or not accrued, suspected or unsuspected, fixed or contingent, and whether or not concealed or hidden, prior to and including the date of this Settlement Agreement, arising from, or in connection with, or
relating in any way to the subject matter of the Litigation, including but not limited to the contractual and business relationships and arrangements which were the subject of the Litigation. 

(C) The releases in paragraphs (A) and (B) above shall not apply to Dahdaleh or Klaveness. 

(D) Nothing herein shall prevent any Party to the Settlement Agreement from initiating a legal action to enforce any term
or provision of the 

  
 6 

 
Settlement Agreement. 
 5. Effectiveness of the
Agreement: This Settlement Agreement, including, but not limited to, the releases contained in Section 4, shall become immediately effective upon the payment of the $42.5 million immediately due upon execution of this Agreement from AWA to
Alba in accordance with Section 3 hereof and the filing of the Stipulation of Dismissal with Prejudice in the Litigation in accordance with Section 2 hereof. 

6. No Admission of Liability: The Parties agree that the execution of this Settlement Agreement is done solely for
the purposes of compromise, and to eliminate the burden and expense of further litigation, and does not constitute, and shall not be construed as, an admission of liability, wrongdoing, fault, judgment or concession, or as evidence with respect
thereto, by any Party, on account of any claims or matters arising between Alba on the one side and the Alcoa Parties on the other side, any such liability being specifically denied. The Parties further agree that this Settlement Agreement shall not
be offered or received against any of the Parties as evidence of a presumption, concession or admission with respect to any liability, negligence, fault or wrongdoing, or in any way referred to for any other reason as against any of the Parties, in
any other civil, criminal or administrative action or proceeding, other than such proceedings as may be necessary to effectuate the provisions of this Settlement Agreement, provided, however, that the Alcoa Parties may refer to it to effectuate the
liability protection granted them hereunder. 
 7. Government of Bahrain. The Alcoa Parties acknowledge
and understand that Alba is indirectly controlled by the Government of Bahrain and is subject to certain legal and statutory restrictions and obligations under the laws of the Kingdom of Bahrain.

  
 7 

 
Any other provision of this Agreement to the contrary notwithstanding, Alba may disclose the existence, terms and/or content of this Agreement, or any documents or other information obtained in
the course of negotiating this Agreement, in response to a demand or order from an official of the Government of Bahrain acting pursuant to legal or statutory authority. In the event of such disclosure, Alba shall inform such official of its
obligations of confidentiality and non-disparagement hereunder, and take all reasonable measures available to it to ensure compliance with these obligations. In the event that the Government of Bahrain makes any public statement in violation of such
obligations, the Alcoa Parties may make an appropriate response. 
 8. Confidentiality: At the time
of the execution of this Settlement Agreement or any other mutually agreed upon date, the Parties may issue press releases with respect to the settlement of the Litigation. Other than the specific information contained in the press releases, the
Parties agree that they will treat all information related to the negotiation of the Settlement Agreement, and this Settlement Agreement itself, as confidential, except (a) the Parties may generally discuss and characterize the Settlement
Agreement, in public and media statements, in a manner not inconsistent with the press releases, and (b) the Parties shall be permitted to disclose the terms of this settlement to government agencies, auditors and Affiliates, and to make all
other disclosures required by court order or applicable law, including securities laws or securities exchange regulations. Notwithstanding the foregoing, nothing in this Settlement Agreement shall preclude Alba from characterizing, in connection
with public announcements and disclosures of the settlement of litigation with the Alcoa Parties, the monetary value of the Long Term Alumina Supply Contract entered into by Alba and AWA contemporaneously

  
 8 

 
with this Settlement Agreement. In the event of such a characterization by Alba, the Alcoa Parties will neither be deemed to have agreed with the characterization nor will publicly comment on it.
Similarly, Alba will not be deemed to have agreed with Alcoa’s characterization of the settlement nor will publicly comment on it. 
 9. Non-Disparagement: Alba and the Alcoa Parties agree that they will not publicly criticize or disparage each other in relation to the facts and circumstances at issue in the Litigation or to any
matter covered, resolved or released by this Settlement Agreement; provided, however, that this provision shall have no force or effect in any legal proceeding that arises from or relates to this Litigation, and provided further that nothing herein
shall or shall be deemed to prevent or impair any Party from (i) testifying truthfully in any legal proceeding in which any Party’s testimony is compelled or requested or (ii) otherwise complying with any legal requirements or
responding to inquiries or requests for information by any regulator or auditor. 
 10. Choice of Law;
Jurisdiction and Venue; Waiver of Right to Jury Trial: This Settlement Agreement shall be governed by, and construed in accordance with, the laws of the State of Pennsylvania, applicable to settlement agreements made and to be performed in that
state, without regard to any conflict of laws rules to the contrary. The parties agree that venue for any dispute, controversy or claim arising out of or in relation to this Settlement Agreement, including the validity, invalidity, breach or
termination thereof, shall lie in the United States District Court for the Western District of Pennsylvania, Pittsburgh Division. 
 11. Entire Agreement: This Settlement Agreement, and all documents executed pursuant hereto, constitute the entire agreement among the Parties with respect to

  
 9 

 
the subject matter hereof, and supersedes any prior written or oral agreements, representations, warranties or statements. 

12. Severability: If any provision of this Settlement Agreement or the application thereof is held invalid, the
invalidity shall not affect other provisions or applications of the Settlement Agreement which can be given effect without the invalid provisions or application. 

13. Construction: Each Party to this Settlement Agreement was represented by counsel of his, her or its choice, and
this document was negotiated by counsel. Each Party and counsel for each Party to this Settlement Agreement has reviewed this Settlement Agreement and has participated in its drafting. Accordingly, no Party shall attempt to invoke the rule of
construction to the effect that ambiguities are to be resolved against the drafting Party in any interpretation of this Settlement Agreement. 
 14. Voluntary Signing of Settlement Agreement: The Parties acknowledge that before entering into this Settlement Agreement, they each consulted with attorneys of their choice. They further
acknowledge that they each have voluntarily entered into this Settlement Agreement, and that no promises or representations were made to them by any person to induce them to enter into this Settlement Agreement other than the express terms set forth
herein. The Parties further acknowledge that they each have read this Settlement Agreement and understood all of its terms, including the releases in Section 4. The Parties acknowledge that they may hereafter discover claims or facts in
addition to or different from those they now know or believe to exist with respect to the subject matter of the Litigation and this Settlement Agreement which, if known or suspected at the time of execution of this Settlement Agreement, may have
materially affected the settlement 

  
 10 

 
embodied herein. The Parties nevertheless agree that the releases in Section 4 apply to any such additional or different claims or facts, including, but not limited to, claims of fraud.

 15. Amendments to the Settlement Agreement: This Settlement Agreement may not be modified, amended or
supplemented except by a writing specifically referencing this Settlement Agreement and signed by the Parties. 

16. Counterparts: This Settlement Agreement may be executed separately in counterparts, all of which
together shall be deemed to constitute one original. A photocopy or facsimile copy of this Settlement Agreement or counterpart thereof shall be deemed an original for all purposes. 

17. Notices: All notices under this Settlement Agreement shall be in writing and shall be deemed to have
been duly given upon receipt or hand delivery or facsimile transmissions with confirmation or receipt to, as follows: 
 If to the Alcoa Parties, to: 
 Audrey Strauss 

Chief Legal & Compliance Officer and Corporate Secretary 

Alcoa Inc. 
 390 Park Avenue 
 New York, NY 10022 

United States of America 
 Fax: (212) 826-4176 
 or 

Max Laun 
 General Counsel 
 Alcoa Inc. 

Alcoa Corporate Center 
 201 Isabella Street 
 Pittsburgh, PA 15212-5858 

  
 11 

 United States of America 

Fax: (412) 553-4064 
 If to Alba, to: 
 Mahmood Al-Kooheji 

Chairman of the Board 
 Aluminium Bahrain B.S.C. 
 P.O. Box 570 

Manama, Bahrain 
 Telephone: +973 17835119 
 Facsimile:  +973 17830881

 With a copy to: 

Mark J. MacDougall 
 Akin Gump Strauss Hauer & Feld LLP 
 1333 New Hampshire
Avenue NW 
 Washington, DC 20036 

United States of America 
 Telephone: +1 202-887-4510 
 Facsimile:  +1 202-955-7770

 Any change of address of a Party shall be communicated in writing to the other Party. 

18. Binding Effect: This Settlement Agreement shall be binding upon and inure to the benefit of the Parties
hereto and their respective Affiliates, heirs, executors, administrators, representatives, successors and assigns. 
 19. Captions; Words: Captions herein are included for convenience and reference only and shall not constitute a part hereof. Words used herein, regardless of the number and gender
specifically used, shall be deemed and construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the context indicates is appropriate. 

20. No Waiver; Remedies Are Cumulative: No failure on the part of the

  
 12 

 
Parties to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof. The remedies herein provided are cumulative and not exclusive of any
remedies provided in law or equity. 

  
 13 

 IN WITNESS WHEREOF, the Parties hereto have caused this Settlement Agreement to be executed
by their duly authorized representatives as of October 9, 2012. 
  

							
	Aluminium Bahrain B.S.C.	 		 		 	
			
		 		 	 By /s/ Mahmood Al-Kooheji

				
		 		 	Its	 	 Chairman

				
	Alcoa Inc.	 		 		 	
				
		 		 	By	 	 /s/ Audrey Strauss

				
		 		 	Its	 	 Chief Legal and Compliance Officer and Corporate Secretary

				
	Alcoa World Alumina LLC	 		 		 	
		 		 	By	 	 /s/ Chris Ayers

				
		 		 	Its	 	 President

				
	William Rice	 		 		 	
				
		 		 	By	 	 /s/ William Rice

  
 14 

 EXHIBIT A 

  
 15 

 IN THE UNITED STATES DISTRICT COURT 

FOR THE WESTERN DISTRICT OF PENNSYLVANIA 
  

			
	ALUMINIUM BAHRAIN B.S.C.,	  	
		
	Plaintiff,	  	
		
		  	2:08-CV-00299 (DWA)
	vs.	  	
		
	ALCOA, INC., ALCOA WORLD ALUMINA LLC, WILLIAM RICE and VICTOR DAHDALEH,	  	
		
	Defendants.	  	

 STIPULATION OF DISMISSAL WITH PREJUDICE 

Pursuant to Fed. R. Civ. P. 41(a)(1)(A), Plaintiff Aluminium Bahrain B.S.C. and Defendants Alcoa Inc., Alcoa World Alumina LLC and
William Rice hereby stipulate to the dismissal with prejudice of this action as it relates to Defendants Alcoa Inc., Alcoa World Alumina LLC and William Rice. Aluminium Bahrain B.S.C., Alcoa Inc., Alcoa World Alumina LLC and William Rice waive all
rights of appeal and each shall bear its or his own costs and attorneys’ fees. 

  
 16 

					
	ALCOA INC.	 		  	ALUMINIUM BAHRAIN B.S.C.
			
	By its attorneys,	 		  	By its attorneys,
	  
	 		  	  

	 David L. McClenahan (Pa. I.D. No. 01301)
 Andrew R. Stanton (Pa. I.D. No. 93409)
 K&L GATES LLP

K&L Gates Center
 210 Sixth Avenue

Pittsburgh, PA 15222
 Tel:
(412)-355-6500
 Fax: (412)-355-6501
  

Evan R. Chesler
 Julie A. North

CRAVATH, SWAINE & MOORE LLP
 Worldwide
Plaza
 825 Eighth Avenue
 New York, NY
10019
 Tel: (212) 474-1000
 Fax:
(212) 474-3700
	 		  	 Charles B. Gibbons (Pa. I.D. No. 08284)
 BUCHANAN INGERSOLL & ROONEY PC
 One Oxford Centre

301 Grant Street, 20th Floor
 Pittsburgh, PA
15219
 Tel: (412) 562-8800
 Fax: (412)
562-1041
  
 Mark J MacDougall

W. Randolph Teslik
 AKIN GUMP STRAUSS HAUER &
FELD LLP
 1333 New Hampshire Avenue, N.W.
 Washington, DC 20036
 Tel: (202) 887-4000
 Fax: (202) 887-4288

			
	ALCOA WORLD ALUMINA LLC	 		  	WILLIAM RICE
			
	By its attorneys,	 		  	By his attorney,
	  
	 		  	  

	 David L. McClenahan (Pa. I.D. No. 01301)
 Andrew R. Stanton (Pa. I.D. No. 93409)
 K&L GATES LLP

K&L Gates Center
 210 Sixth Avenue

Pittsburgh, PA 15222
 Tel:
(412)-355-6500
 Fax: (412)-355-6501
  

Evan R. Chesler
 Julie A. North

CRAVATH, SWAINE & MOORE LLP
 Worldwide
Plaza
 825 Eighth Avenue
 New York, NY
10019
 Tel: (212) 474-1000
 Fax:
(212) 474-3700
  
 Dated: October     ,
2012
	 		  	 Richard L. Beizer
 CROWELL
& MORING LLP
 1001 Pennsylvania Avenue, N.W.
 Suite 1100
 Washington, DC 20004-2595
 Tel: (202)-624-2500
 Fax: (202)-628-5116

  
 17 

 SCHEDULE 1 

Pursuant to Section 1 of the Settlement Agreement, AWA will remit payment by wire transfer to the following account information:

 To: 

Swift: 
 Favor
of: 
 A/C No. 
 Swift: 
 For credit to: 

A/C No. 

  
 18

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