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                                                                     EXHIBIT 4.2

                              AMENDED AND RESTATED
                                     BYLAWS

                                       OF

                            CENTURY ALUMINUM COMPANY
                      (AS AMENDED THROUGH AUGUST 10, 2005)

                                    ARTICLE I

                                     OFFICES

          1. The corporation may have offices at such places within or without
the State of Delaware as the board of directors may from time to time determine
or as the business of the corporation may require.

                                   ARTICLE II

                             STOCKHOLDERS' MEETINGS

          1. Place of all meetings. All meetings of stockholders shall be held
at such place or places in or outside the State of Delaware as the board of
directors may from time to time determine or as may be designated in the notice
of meeting or waiver of notice thereof, subject to any provisions of the laws of
Delaware.

          2. Annual meeting of stockholders. The annual meeting of stockholders
shall be held each year on such date, and at such time as shall be fixed by the
board of directors. Written notice of the time and place of the annual meeting
shall be given by mail to each stockholder entitled to vote at least 10 days
prior to the date thereof, unless waived as provided by Article IX of these
Bylaws (as amended, restated, or modified from time to time and then in effect,
these "Bylaws").

          3. Notice of Stockholder Proposals. (a) At an annual meeting of
stockholders, only such business shall be conducted, and only such proposals
shall be acted upon, as shall have been brought before the annual meeting (i)
by, or at the direction of, the board of directors or (ii) by any stockholder
who complies with the notice procedures set forth in this Section of the Bylaws.
For a proposal to be properly brought before an annual meeting by a stockholder,
the stockholder must have given timely notice thereof in writing to the
Secretary, and such proposal must be a proper matter for stockholder action
under the General Corporation Law of the State of Delaware and a proper matter
for consideration at such meeting under the Certificate of Incorporation of the
Corporation (as amended, restated, or modified from time to time and then in
effect, the "Certificate of Incorporation") and these Bylaws. To be timely, a
stockholder's notice must be delivered to, or mailed and received at, the
principal executive offices of the corporation not less than 45 days prior to
the date on which the corporation first mailed its proxy materials for the prior
year's annual meeting of stockholders. A stockholder's
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notice to the Secretary shall set forth as to each matter the stockholder
proposes to bring before the annual meeting (i) a brief description of the
proposal desired to be brought before the annual meeting and the reasons for
conducting such business at the annual meeting, (ii) the name and address, as
they appear on the corporation's books, of the stockholder proposing such
business, (iii) the class and number of shares which are beneficially owned by
the stockholder on the date of such stockholder notice and (iv) any material
interest of the stockholder in such proposal.

          (b) If the presiding officer of the annual meeting determines that a
stockholder proposal was not made in accordance with the terms of this Section,
he shall so declare at the annual meeting and any such proposal shall not be
acted upon at the annual meeting.

          (c) This provision shall not prevent the consideration and approval or
disapproval at the annual meeting of reports of officers, directors and
committees of the board of directors, but, in connection with such reports, no
business shall be acted upon at such annual meeting unless stated, filed and
received as herein provided.

          4. Special meetings of stockholders. Special meetings of stockholders
may be called at any time by order of the board of directors or the executive
committee only. Notice of all such meetings of the stockholders, stating the
time, place, and the purposes thereof shall be given by mail as soon as possible
to each stockholder entitled to vote thereat at his address as it appears on the
records of the corporation not less than the minimum nor more than the maximum
number of days prior to the scheduled date thereof permitted under the laws of
Delaware, unless such notice is waived as provided in Article IX of these
Bylaws. Stockholders are not permitted to submit additional matters or proposals
for consideration at any special meeting.

          5. Voting at stockholders' meetings. Except as otherwise provided by
the laws of the State of Delaware or the Certificate of Incorporation or any
amendment thereto, at all meetings of the stockholders, each stockholder shall
be entitled to one vote for each share of Stock registered in his or her name on
the books of the corporation on the record date fixed for the determination of
stockholders entitled to vote at the meeting pursuant to Article VI or, if not
so determined, as prescribed under the laws of Delaware.

          6. Quorum at stockholders' meetings. At any stockholders' meeting, a
majority of the combined voting power of the issued and outstanding shares of
Stock entitled to vote thereat represented in person or by proxy shall
constitute a quorum, except as otherwise provided by the laws of the State of
Delaware or by the Certificate of Incorporation. In the absence of a quorum at
any meeting, or any adjourned session thereof, the stockholders of the
corporation represented in person or by proxy and entitled to vote, by a
majority vote, or, if no stockholders are present, any officer entitled to
preside or act at the meeting, may adjourn any meeting from time to time, and
the meeting may be held as adjourned without further notice. When a quorum is
present at any meeting, a majority in interest of the combined voting power of
the issued and outstanding shares of Stock entitled to vote represented thereat
shall decide any question brought before such meeting unless the question is one
upon which, by express provision of law or of the Certificate of Incorporation
or of these Bylaws, a different vote is required, in which case such express
provision shall govern.

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          7. List of stockholders to be filed, etc. At least 10 days before
every election of directors, a complete list of the stockholders entitled to
vote at the election, arranged in alphabetical order, shall be prepared by the
secretary. Such list shall be open at the place where such election is to be
held for 10 days, subject to examination by any stockholder, and shall be
produced and kept at the time and place of election during the whole time
thereof and subject to the inspection of any stockholder who may be present.
Upon the willful neglect or refusal of the directors to produce such a list at
any election, they shall be ineligible to any office at such election. The
original or duplicate stock ledger shall be the only evidence as to who are the
stockholders entitled to examine such list or the books of this corporation or
to vote in person or by proxy at such election.

                                  ARTICLE III

                               BOARD OF DIRECTORS

          1. Number and qualification. Directors shall be elected at annual
meetings of stockholders, or at special meetings held in lieu thereof in
accordance with the Certificate of Incorporation and these Bylaws.

          2. Powers of directors. The business and affairs of the corporation
shall be carried on by or under the direction of the board of directors, which
shall have all the powers authorized by the laws of Delaware, subject to such
limitations as may be provided by the Certificate of Incorporation or these
Bylaws.

          3. Compensation of directors. The board of directors may from time to
time by resolution authorize the payment of fees or compensation to the
directors for services as such to the corporation, including, but not limited
to, fees and traveling expenses for attendance at all meetings of the board or
of the executive or other committees, and determine the amount of such fees and
compensation. Nothing herein contained shall be construed to preclude any
director from serving the corporation in any other capacity and receiving
compensation therefor.

          4. Directors' meetings. Meetings of the board of directors may be held
either within or outside the State of Delaware. A quorum shall be at least
one-half of the number of directors, but not less than two directors. Except as
otherwise provided in the laws of the State of Delaware, the Certificate of
Incorporation or these Bylaws, the affirmative vote of a majority of the
directors present at any meeting in which a quorum is present shall be required
for the taking of any action by the board of directors.

          The board of directors elected at any stockholders' meeting shall at
the close of that meeting, without further notice if a quorum of directors be
then present, or as soon thereafter as may be convenient, hold a meeting for the
election of officers and the transaction of any other business. At such meeting
they shall elect a president, one or more vice presidents, a secretary and a
treasurer, and such other officers as they may deem proper, none of whom need be
members of the board of directors.

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          The board of directors may from time to time provide for the holding
of regular meetings with or without notice and may fix the times and places at
which such meetings are to be held. Meetings other than regular meetings may be
called at any time by the president and must be called by the president or by
the secretary or an assistant secretary upon the written request of any
director.

          Notice of each meeting, other than a regular meeting (unless required
by the board of directors), shall be given to each director by mailing the same
to each director at his residence or business address at least two days before
the meeting or by delivering the same to him personally or by telephone or
telegraph to him at least one day before the meeting unless, in case of
exigency, the president or secretary shall prescribe a shorter notice to be
given personally or by telephone, telegraph, telefax, cable or wireless to all
or any one or more of the directors at their respective residences or places of
business.

          Notice of all meetings shall state the time and place of such meeting,
but need not state the purposes thereof unless otherwise required by statute,
the Certificate of Incorporation, the Bylaws, or the board of directors.

          5. Executive committee. The board of directors may by resolution
passed by a majority of the whole board provide for an executive committee of
two or more directors and shall elect the members thereof to serve during the
pleasure of the board and may designate one of such members to act as chairman.
The board may at any time change the membership of the committee, fill vacancies
in it, designate alternate members to replace any absent or disqualified members
at any meeting of the committee, or dissolve it.

          During the intervals between the meetings of the board of directors,
the executive committee shall possess and may exercise any or all of the powers
of the board of directors in the management of the business and affairs of the
corporation to the extent authorized by resolution adopted by a majority of the
entire board of directors, subject to such limitations as may be imposed by the
laws of Delaware.

          The executive committee may determine its rules of procedure and the
notice to be given of its meetings, and it may appoint such committees and
assistants as it shall from time to time deem necessary. A majority of the
members of the committee shall constitute a quorum.

          6. Other committees. The board of directors by resolution may provide
for such other standing or special committees as it deems desirable and may
discontinue the same at its pleasure. Each such committee shall have the powers
and perform such duties, not inconsistent with law, as may be assigned to it by
the board of directors.

          7. Notice of Nominations. At any annual meeting of stockholders, only
persons who are nominated in accordance with the procedures set forth in the
Bylaws shall be eligible to be elected at such meeting as directors. Nominations
of persons for election to the board of directors may be made at a meeting of
stockholders (a) by or at the direction of the board of directors or (b) by any
stockholder who is a stockholder of record at the time of giving of notice
provided for in this Section, who shall be entitled to vote for the election of
directors at

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the meeting and who complies with the notice procedures set forth in this
Section. Such nominations, other than those made by or at the direction of the
board of directors, shall be made pursuant to timely notice in writing to the
Secretary. To be timely, a stockholder's notice shall be delivered to or mailed
and received at the principal executive offices of the corporation not less than
45 days prior to the date on which the corporation first mailed its proxy
materials for the prior year's annual meeting of stockholders. Such
stockholder's notice shall set forth (a) as to each person whom the stockholder
proposes to nominate for election or reelection as a director all information
relating to such person that is required to be disclosed in solicitations of
proxies for election of directors, or is otherwise required, in each case
pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended
(including such person's written consent to being named in the proxy statement
as a nominee and to serving as a director if elected); and (b) as to the
stockholder giving the notice (i) the name and address, as they appear on the
corporation's books, of such stockholder supporting such nomination and (ii) the
class and number of shares which are beneficially owned by such stockholder. At
the request of the board of directors, any person nominated to the board of
directors for election as a director shall furnish to the Secretary that
information required to be set forth in a stockholder's notice of nomination
which pertains to the nominee. Except as otherwise provided in the Certificate
of Incorporation or these Bylaws, no person shall be eligible to serve as a
director unless nominated in accordance with the procedures set forth in this
Bylaw. The chairman of the meeting shall, if the facts warrant, determine and
declare to the meeting that a nomination was not made in accordance with the
procedures prescribed in the Bylaws, and if he should so determine, he shall so
declare to the meeting and the defective nomination shall be disregarded.
Notwithstanding the foregoing provisions of this Section, a stockholder shall
also comply with all applicable requirements of the Securities Exchange Act of
1934, as amended, and the rules and regulations thereunder with respect to the
matters set forth in this Section.

          8. Chairman of the Board. The Chairman of the Board (hereinafter
sometimes called the "Chairman") if appointed by the board of directors, when
present shall preside at all meetings of the stockholders, the board of
directors and the Executive Committee. The Chairman shall perform such other
duties as the board of directors or Executive Committee may prescribe from time
to time.

          9. Action without meetings. Any action required or permitted to be
taken at any meeting of the board of directors or any committee thereof may be
taken without a meeting if all members of the board of directors or committee,
as the case may be, consent thereto in writing and the writing is filed with the
minutes of the proceedings of the board of directors or such committee.

                                   ARTICLE IV

                                    OFFICERS

          1. Titles and election. The officers of this corporation shall be a
president, one or more vice presidents, a secretary and a treasurer who shall be
elected at the annual meeting of the board of directors and who shall hold
office at the pleasure of the board, except as

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may otherwise be approved by the board or executive committee, or until his
earlier resignation, removal or other termination of employment. Any person may
hold more than one office if the duties thereof can be consistently performed by
the same person, and to the extent permitted by law.

          The board of directors, in its discretion, may at any time elect or
appoint a chairman of the board of directors, who shall be a director, a
president and one or more vice presidents, assistant secretaries and assistant
treasurers and such other officers or agents as it may deem advisable, all of
whom shall hold office at the pleasure of the board, except as may otherwise be
approved by the board or executive committee, or until his earlier resignation,
removal or other termination of employment, and shall have such authority and
shall perform such duties as may be prescribed or determined from time to time
by the board.

          The board of directors may require any officer, agent or employee to
give bond for the faithful performance of his duties in such form and with such
sureties as the board may require.

          2. Duties. Subject to such extension, limitations, and other
provisions as the board of directors or the Bylaws may from time to time
prescribe, the following officers shall have the following powers and duties:

          (a) President. Unless otherwise determined by the board of directors,
the president shall be the chief executive officer of the corporation. The
president shall exercise the powers and authority and perform all of the duties
commonly incident to his office, shall in the absence of the Chairman preside at
all meetings of the stockholders and of the board of directors if he is a
director, and shall perform such other duties as the board of directors or
executive committee shall specify from time to time. The president or a vice
president, unless some other person is thereunto specifically authorized by the
board of directors or executive committee, shall sign all bonds, debentures,
promissory notes, deeds and contracts of the corporation. The same individual
may be elected or appointed Chairman of the Board and president.

          (b) Vice President. The vice president or vice presidents shall
perform such duties as may be assigned to them by the board of directors and, in
the absence or disability of the president, unless otherwise determined by the
board, the vice presidents in order of seniority shall exercise all powers and
duties pertaining to the office of president.

          (c) Secretary. The secretary shall keep the minutes of all meetings of
stockholders and of the board of directors, give and serve all notices, attend
to such correspondence as may be assigned to him, keep in safe custody the seal
of the corporation, and affix such seal to all such instruments properly
executed as may require it, and shall have such other duties and powers as the
board of directors shall prescribe from time to time.

          (d) Treasurer. The treasurer, subject to the order of the board of
directors, shall have the care and custody of the moneys, funds, valuable papers
and documents of the corporation (other than his own bond, if any, which shall
be in the custody of the president), and shall have and exercise, under the
supervision of the board of directors, all the powers and duties

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commonly incident to his office. He shall deposit all funds of the corporation
in such bank or banks, trust company or trust companies, or with such firm or
firms doing a banking business as the board of directors shall designate. He may
endorse for deposit or collection all checks, notes, etc. payable to the
corporation or to its order. He shall keep accurate books of account of the
corporation's transactions, which shall be the property of the corporation, and,
together with all its property in his possession, shall be subject at all times
to the inspection and control of the board of directors. The treasurer shall be
subject in every way to the order of the board of directors, and shall render to
the board of directors and/or the president of the corporation, whenever they
may require it, an account of all his transactions and of the financial
condition of the corporation.

          3. Delegation of authority. The board of directors or the Executive
Committee may at any time delegate the powers and duties of any officer for the
time being to any other officer, director or employee.

          4. Salaries. The compensation of the Chairman of the Board, the
president, all vice presidents, the secretary and the treasurer shall be fixed
by the board of directors or the executive committee, and the fact that any
officer is a director shall not preclude him from receiving compensation or from
voting upon the resolution providing the same.

                                    ARTICLE V

                      RESIGNATIONS, REMOVALS AND VACANCIES

          1. Resignations. Any director, officer, or agent may resign at any
time by giving written notice thereof to the board of directors, the president,
or the secretary. Any such resignation shall take effect at the time specified
therein or, if the time be not specified, upon receipt thereof; and unless
otherwise specified therein, the acceptance of any resignation shall not be
necessary to make it effective.

          2. Removals. (a) Directors. Directors may be removed from office only
as provided for in the Certificate of Incorporation.

          (b) Officers. Subject to the provisions of any validly existing
agreement, the board of directors may at any meeting remove from office any
officer, with or without cause, and may elect or appoint a successor; provided
that if action is to be taken to remove the president, the notice of meeting or
waiver of notice thereof shall state that one of the purposes thereof is to
consider and take action on his removal.

          3. Vacancies. (a) Directors. Vacancies on the board shall be handled
in the manner provided for in the Certificate of Incorporation. The directors
may reduce their authorized number by the number of vacancies in the board,
provided such reduction does not reduce the board to less than the minimum
authorized by the Certificate of Incorporation, these Bylaws or the laws of the
State of Delaware.

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          (b) Officers. The board of directors may at any time or from time to
time fill any vacancy among the officers of the corporation.

                                   ARTICLE VI

                                  CAPITA1 STOCK

          1. Certificates of stock. Every stockholder shall be entitled to a
certificate or certificates for shares of the capital stock of the corporation
in such form as may be prescribed by the board of directors, duly numbered and
setting forth the number and kind of shares represented thereby. Such
certificates shall be signed by the Chairman, the president or a vice president
and by the treasurer or an assistant treasurer or by the secretary or an
assistant secretary. Any of such signatures and the corporate seal affixed to
any stock certificate may be in facsimile.

          In case any officer who has signed, or whose facsimile signature has
been used on a certificate, has ceased to be an officer before the certificate
has been delivered, such certificate may nevertheless be adopted and issued and
delivered by the corporation, or its transfer agent, as though the officer who
signed such certificate or certificates, or whose facsimile signature or
signatures shall have been used thereon, had not ceased to be such officer of
the corporation.

          2. Transfer of stock. Shares of the capital stock of the corporation
shall be transferable only upon the books of the corporation by the holder in
person or by an attorney duly authorized and upon the surrender of the
certificate or certificates properly assigned and endorsed. If the corporation
has a transfer agent or agents or a transfer clerk and a registrar of transfers
acting on its behalf, the signature of any officer or representative thereof may
be in facsimile.

          The board of directors may appoint a transfer agent and one or more
co-transfer agents and a registrar of transfer and may make all such rules and
regulations as it deems expedient concerning the issue, transfer and
registration of shares of stock. The transfer books shall be closed for such a
period as the board shall direct previous to and on the day of the annual or any
special meeting of the stockholders and may also be closed by the board for such
period as may be advisable for dividend purposes, and during such time no stock
shall be transferable.

          3. Record dates. (a) In order that the corporation may determine the
stockholders entitled to notice of or to vote at any meeting of stockholders or
any adjournment thereof, or to express consent to corporate action in writing
without a meeting, or entitled to receive payment of any dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock or for the purpose of any
other lawful action, the board of directors may fix in advance a record date
which, in the case of a meeting, shall be not less than the minimum nor more
than the maximum number of days prior to the scheduled date of such meeting
permitted under the laws of Delaware and which, in the case of any other action,
shall be not more than the maximum number of days prior to any such action
permitted by the laws of Delaware.

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          (b) If no such record date is fixed by the board, the record date
shall be that prescribed by the laws of Delaware.

          (c) A determination of stockholders of record entitled to notice of or
to vote at a meeting of stockholders shall apply to any adjournment of the
meeting; provided, however, that the board of directors may fix a new record
date for the adjourned meeting.

          4. Lost certificates. In case of loss or mutilation or destruction of
a certificate of stock of this corporation, a duplicate certificate may be
issued upon such terms as may be determined or authorized by the board of
directors or executive committee or by the president if the board or the
executive committee does not do so.

                                   ARTICLE VII

                    FISCAL YEAR, BANK DEPOSITS, CHECKS, ETC.

          1. Fiscal Year. The fiscal year of the corporation shall commence or
end at such time as the board of directors may designate.

          2. Bank deposits, checks, etc. The funds of the corporation shall be
deposited in the name of the corporation or of any division thereof in such
banks or trust companies in the United States or elsewhere as may be designated
from time to time by the board of directors or executive committee, or by such
officer or officers as the board or executive committee may authorize to make
such designations.

          All checks, drafts or other orders for the withdrawal of funds from
any bank account shall be signed by such person or persons as may be designated
from time to time by the board of directors or executive committee or as may be
designated by an officer or officers authorized by the board of directors or
executive committee to make such designations. The signatures on checks, drafts
or other orders for the withdrawal of funds may be in facsimile if authorized in
the designation.

                                  ARTICLE VIII

                                BOOKS AND RECORDS

          1. Place of keeping books. Unless otherwise expressly required by the
laws of Delaware, the books and records of this corporation may be kept outside
of the State of Delaware at such place or places as may be designated from time
to time by the board of directors.

          2. Examination of books. Except as otherwise provided in the
Certificate of Incorporation or in these Bylaws, the board of directors shall
have power to determine from time to time whether and to what extent and at what
times and places and under what conditions and regulations the accounts, records
and books of this corporation, or any of them, shall be open to the inspection
of the stockholders, and no stockholder shall have any right to inspect any
account

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or book or document of this corporation except as prescribed by statute or
authorized by express resolution of the stockholders or of the board of
directors.

                                   ARTICLE IX

                                     NOTICES

          1. Requirements of notice. Whenever notice is required to be given by
statute or by these Bylaws, it shall not mean personal notice unless so
specified, but such notice may be given in writing by depositing the same in a
post office or letter box, postpaid and addressed to the person to whom such
notice is directed at the address of such person on the records of the
corporation, and such notice shall be deemed given at the time when the same
shall be thus mailed.

          2. Waivers. Any stockholder, director or officer may, in writing or by
telegram or cable, at any time waive any notice or other formality required by
statute or these Bylaws. Such waiver of notice, whether given before or after
any meeting, shall be deemed equivalent to notice. Presence of a stockholder
either in person or by proxy at any stockholders' meeting and presence of any
director at any meeting of the board of directors shall constitute a waiver of
such notice as may be required by any statute or these Bylaws.

                                    ARTICLE X

                                      SEAL

          The corporate seal of the corporation shall consist of two concentric
circles between which shall be the name of the corporation and in the center of
which shall be inscribed "Corporate Seal, Delaware."

                                   ARTICLE XI

                               POWERS OF ATTORNEY

          The board of directors may authorize one or more of the officers of
the corporation to execute powers of attorney delegating to named
representatives or agents power to represent or act on behalf of the
corporation, with or without power of substitution.

          In the absence of any action by the board or the executive committee,
the president, any vice president, the secretary or the treasurer of the
corporation may execute for and on behalf of the corporation waivers of notice
of stockholders' meetings and proxies for such meetings in any company in which
the corporation may hold voting securities.

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                                   ARTICLE XII

                    INDEMNIFICATION OF DIRECTORS AND OFFICERS

          (a) Right to Indemnification. Each person who was or is made a party
or is threatened to be made a party to or is involved in any action, suit or
proceeding, whether civil, criminal, administrative or investigative
(hereinafter a "proceeding"), by reason of the fact that he or she, or a person
of whom he or she is the legal representative, is or was a director, officer,
employee or agent of the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation or
of a partnership, joint venture, trust or other enterprise, including service
with respect to employee benefit plans, whether the basis of such proceeding is
alleged action in an official capacity as a director, officer, employee or agent
or in any other capacity while serving as a director, officer, employee or
agent, shall be indemnified and held harmless by the corporation to the fullest
extent authorized by the Delaware General Corporation Law, as the same exists or
may hereafter be amended (but, in the case of any such amendment, only to the
extent that such amendment permits the corporation to provide broader
indemnification rights than said law permitted the corporation to provide prior
to such amendment) against all expense, liability and loss (including attorneys'
fees, judgments, fines, ERISA excise taxes or penalties and amounts to be paid
in settlement) reasonably incurred or suffered by such person in connection
therewith and such indemnification shall continue as to a person who has ceased
to be a director, officer, employee or agent and shall inure to the benefit of
his or her heirs, executors and administrators; provided, however, that except
as provided in paragraph (b) hereof with respect to proceedings seeking to
enforce rights to indemnification, the corporation shall indemnify any such
person seeking indemnification in connection with a proceeding (or part thereof)
initiated by such person only if such proceeding (or part thereof) was
authorized by the board of directors of the corporation. The right to
indemnification conferred in this Section shall be a contract right and shall
include the right to be paid by the corporation the expenses incurred in
defending any such proceeding in advance of its final disposition; provided,
however, that, if the Delaware General Corporation Law requires, the payment of
such expenses incurred by a director or officer in his or her capacity as a
director or officer (and not in any other capacity in which service was or is
rendered by such person while a director or officer, including, without
limitation, service to an employee benefit plan) in advance of the final
disposition of a proceeding, shall be made only upon delivery to the corporation
of an undertaking, by or on behalf of such director or officer, to repay all
amounts so advanced if it shall ultimately be determined that such director or
officer is not entitled to be indemnified under this Section or otherwise.

          (b) Right of Claimant to Bring Suit. If a claim under paragraph (a) of
this Section is not paid in full by the corporation within 60 days after a
written claim has been received by the corporation, except in the case of a
claim for expenses incurred in defending a proceeding in advance of its final
disposition, in which case the applicable period shall be 20 days, the claimant
may at any time thereafter bring suit against the corporation to recover the
unpaid amount of the claim and, if successful in whole or in part, the claimant
shall be entitled to be paid also the expense of prosecuting such claim. It
shall be a defense to any such action (other than an action brought to enforce a
claim for expenses incurred in defending any proceeding in advance of its final
disposition where the required undertaking, if any is required, has been

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tendered to the corporation) that the claimant has not met the standards of
conduct which make it permissible under the Delaware General Corporation Law for
the corporation to indemnify the claimant for the amount claimed, but the burden
of proving such defense shall be on the corporation.

          (c) Non-Exclusivity of Rights. The right to indemnification and the
payment of expenses incurred in defending a proceeding in advance of its final
disposition conferred in this Section shall not be exclusive of any other right
which any person may have or hereafter acquire under any statute, provision of
the Certificate of Incorporation, Bylaw, agreement, vote of stockholders or
disinterested directors or otherwise.

          (d) Insurance. The corporation may maintain insurance, at its expense,
to protect itself and any director, officer, employee or agent of the
corporation, or another corporation, partnership, joint venture, trust or other
enterprise against any expense, liability or loss, whether or not the
corporation would have the power to indemnify such person against such expense,
liability or loss under the Delaware General Corporation Law.

          (e) Amendment or Repeal. Any repeal or modification of the foregoing
provisions of this Article XII shall not adversely affect any right of a
director, officer, employee or agent of the corporation in respect of any act or
omission occurring prior to the time of such repeal or modification.

                                  ARTICLE XIII

                                   AMENDMENTS

          Subject to the provisions of the Certificate of Incorporation, the
Bylaws may be altered, amended or repealed either by the affirmative vote of a
majority of the board of directors at any regular or special meeting of the
board of directors, or by the affirmative vote of the holders of record of at
least 66-2/3% of the voting power of the outstanding shares of capital stock of
the corporation entitled to vote at an annual meeting or at any special meeting
at which a quorum shall be present, provided that in each case notice of the
proposed change was given in the notice of the meeting of the board or the
stockholders, or the form of consent thereof, as the case may be.

12<PAGE>
                                                                    EXHIBIT 10.1

                            CENTURY ALUMINUM COMPANY

                 AMENDED AND RESTATED 1996 STOCK INCENTIVE PLAN

      I. PURPOSES AND SCOPE OF PLAN

      Century Aluminum Company (the "Company") desires to afford certain
salaried officers and other salaried key employees of the Company and its
subsidiaries who are in a position to affect materially the profitability and
growth of the Company and its subsidiaries an opportunity to acquire a
proprietary interest in the Company, and thus to create in such persons interest
in and a greater concern for the welfare of the Company. Non-employee directors
are also eligible to participate in the 1996 Stock Incentive Plan (the "Plan"),
which enables the Company to attract and retain outside directors of the highest
caliber and experience and to provide an incentive for such directors to
increase their proprietary interest in the Company's long-term success. These
objectives will be promoted through the granting to such key employees of equity
instruments including (i) incentive stock options ("Incentive Options") which
are intended to qualify under Section 422 (or any successor provision) of the
Internal Revenue Code of 1986, as amended (the "Code"); (ii) options which are
not intended to so qualify ("NQSOs"); and (iii) performance share units
("Performance Shares").

      The awards offered to employees pursuant to this Plan are a matter of
separate inducement and are not in lieu of any salary or other compensation for
services.

      The Company, by means of the Plan, seeks to retain the services of persons
now holding key positions and to secure the services of persons capable of
filling such positions.

      II. AMOUNT OF STOCK SUBJECT TO THE PLAN

      The total number of shares of common stock, $0.01 par value, per share, of
the Company, or any other security into which such shares of common stock may be
changed by reason of any transaction or event of the type referred to below in
this Article II (the "Shares") reserved and available for distribution pursuant
to options and awards granted hereunder shall not exceed, in the aggregate,
5,000,000, subject to adjustment described below. All Shares available for
distribution under the Plan may be issued pursuant to Incentive Options, NQSOs
or Performance Shares or a combination of the foregoing.

      Shares which may be acquired under the Plan may be either shares of
original issuance or treasury shares, or both, at the discretion of the Company.
Whenever any outstanding option or award or portion thereof expires, is
canceled, is forfeited or is otherwise terminated without having been exercised
or without having fully vested, or the underlying Shares are unissued for any
reason, including those withheld by or surrendered to the Company to satisfy
withholding tax obligations or in payment of the exercise price of an award, the
Shares allocable to the expired, canceled, forfeited or otherwise terminated
portion of the option or award, and any Shares withheld by or surrendered to the
Company, may again be the subject of options or awards granted hereunder. In
addition, any Shares which are available or become available for grant under the
Company's Non-Employee Directors Plan on or after July 1, 2005 shall be
available for grant under this Plan

      Upon any stock dividend, stock split, combination or exchange of Shares,
recapitalization or other change in the capital structure of the Company,
corporate separation or division (including, but not limited to, split-up,
split-off, spin-off or distribution to Company shareholders other than a normal
cash dividend), sale by the Company of all or a substantial portion of its
assets, rights offering, merger, consolidation, reorganization or partial or
complete liquidation, or any other corporate transaction or event having an
effect similar to any of the foregoing, the aggregate number of Shares reserved
for issuance under the Plan, the number and option price of Shares subject to
outstanding options, the financial performance goals contained in a Performance
Share award, the number of Shares subject to a Performance Share award and any
other characteristics or terms of the options and awards as the Board of
Directors (as hereinafter defined) or the Committee (as hereinafter defined), as
the case may be, shall deem necessary or appropriate to reflect equitably the
effects of such changes to the holders of options and awards, shall be
appropriately substituted for new shares or other consideration, or otherwise
adjusted, as determined by the Board of Directors or the Committee, as the case
may be, in its discretion. Notwithstanding the foregoing, (i) each such
adjustment with respect to an Incentive Option shall comply with the rules of
Section 424(a) (or any successor provision) of the Code, and (ii) in no event
shall any adjustment be made which would render any Incentive Option

                                      -1-
<PAGE>
granted hereunder other than an incentive stock option for purposes of Section
422 (or any successor provision) of the Code without the consent of the grantee.

      III. ADMINISTRATION

      The Compensation Committee (the "Committee") will have the authority to
administer the Plan, provided that the full Board of Directors of the Company
(the "Board of Directors"), at its sole discretion, may exercise any authority
granted to the Committee under this Plan. The Committee shall consist of no
fewer than two members of the Board of Directors, each of whom shall be a
"non-employee Director" within the meaning of Rule 16b-3 or any successor rule
or regulation ("Rule 16b-3") promulgated under the Securities Exchange Act of
1934, as amended (the "Exchange Act"). The Committee shall administer the Plan
so as to comply at all times with Rule 16b-3. A majority of the members of the
Committee shall constitute a quorum, and the act of a majority of the members of
the Committee shall be the act of the Committee. Any member of the Committee may
be removed at any time, either with or without cause, by resolution adopted by a
majority of the Board of Directors, and any vacancy on the Committee may at any
time be filled by resolution adopted by a majority of the Board of Directors.
The Board of Directors or the Committee may delegate to an officer of the
Company the authority to make grants to persons who are not subject to Section
16 of the Exchange Act, provided such authority is limited as to time, aggregate
and individual award amounts and/or such other provisions as the Board of
Directors or Committee deems necessary or desirable.

      Subject to the express provisions of the Plan, the Board of Directors or
the Committee, as the case may be, shall have authority, in its discretion, to
(i) select employees of the Company and its subsidiaries as recipients of
options or awards; (ii) determine the number and type of options or awards to be
granted; (iii) determine the terms and conditions, not inconsistent with the
terms hereof, of any options or awards granted; (iv) adopt, alter and repeal
such administrative rules, guidelines and practices governing the Plan as it
shall, from time to time, deem advisable; (v) interpret the terms and provisions
of the Plan and any option or award granted and any agreements relating thereto;
(vi) otherwise supervise the administration of the Plan; and (vii) establish
sub-plans with such terms as the Board of Directors of the Committee deems
necessary or desirable to comply with, or to qualify for preferred tax treatment
under the laws, rules and regulations of any jurisdiction outside of the United
States.

      The determination of the Board of Directors or the Committee, as the case
may be, on matters referred to in this Article III shall be conclusive.

      The Board of Directors or the Committee, as the case may be, may employ
such legal counsel, consultants and agents as it may deem desirable for the
administration of the Plan and may rely upon any opinion received from any such
counsel or consultant and any computation received from any such consultant or
agent. Expenses incurred by the Board of Directors or the Committee in the
engagement of such counsel, consultant or agent shall be paid by the Company. No
member or former member of the Committee or of the Board of Directors shall be
liable for any action or determination made in good faith with respect to the
Plan or any option or award granted hereunder.

      The Company shall indemnify each member of the Board of Directors or the
Committee, as the case may be, for all costs and expenses and, to the extent
permitted by applicable law, any liability incurred in connection with defending
against, responding to, negotiation for the settlement of, or otherwise dealing
with any claim, cause of action or dispute of any kind arising in connection
with any actions in administering the Plan or in authorizing or denying
authorization to any transaction hereunder.

      IV. ELIGIBILITY

      Options and Performance Share awards may be granted only to: (i) certain
salaried officers and other salaried key employees of the Company and its
subsidiaries, and (ii) non-employee directors; provided, that no person shall be
eligible for any award if the granting of such award to such person would
prevent the satisfaction by the Plan of the general exemptive conditions of Rule
16b-3. In no event may any eligible person be granted or awarded stock options
and Performance Shares covering, in the aggregate, more than 300,000 Shares, or
500,000 Shares in the case of a newly hired person (subject to adjustment as
described in Article II above), in any fiscal year of the Company.

                                      -2-
<PAGE>
      V. STOCK OPTIONS

      1. General. Options may be granted alone or in addition to other awards
granted under the Plan. Any options granted under the Plan shall be in such form
as the Board of Directors or the Committee, as the case may be, may from time to
time approve and the provisions of the option grants need not be the same with
respect to each optionee. Options granted under the Plan may be either Incentive
Options or NQSOs. The Board of Directors or the Committee, as the case may be,
may grant to any optionee Incentive Options, NQSOs or a combination of the
foregoing; provided that options granted to non-employee directors may only be
NQSOs.

      Options granted under the Plan shall be subject to the terms and
conditions of the Plan and shall contain such additional terms and conditions
not inconsistent with the terms of the Plan, as the Board of Directors or the
Committee, as the case may be, deems appropriate. Each option grant shall be
evidenced by an agreement executed on behalf of the Company by an officer
designated by the Committee and accepted by the optionee. Such agreement shall
describe the options and state that such options are subject to all the terms
and provisions of the Plan and shall contain such other terms and provisions,
consistent with the Plan, as the Board of Directors or the Committee, as the
case may be, may approve.

      2. Exercise Price and Payment. The price per Share under any option
granted hereunder shall be such amount as the Board of Directors or the
Committee, as the case may be, shall determine, provided, however, that such
price shall not be less than 100% of the fair market value of the Shares subject
to such option, as determined below, at the date the option is granted (110% in
the case of an Incentive Option granted to any person who, at the time the
option is granted, owns stock of the Company or any subsidiary or parent of the
Company possessing more than 10% of the total combined voting power of all
classes of stock of the Company or of any subsidiary or parent of the Company (a
"10% Shareholder")).

      If the Shares are listed on a national securities exchange in the United
States on the date any option is granted, the fair market value per Share shall
be deemed to be the average of the high and low sale price on such national
securities exchange in the United States on the date upon which the option is
granted, but if the Shares are not traded on such date, or such national
securities exchange is not open for business on such date, the fair market value
per Share shall be the average of the high and low sale price determined as of
the closest preceding date on which such exchange shall have been open for
business and the Shares were traded. If the Shares are listed on more than one
national securities exchange in the United States on the date any such option is
granted, the Board of Directors or the Committee, as the case may be, shall
determine which national securities exchange shall be used for the purpose of
determining the fair market value per Share. If the Shares are not listed on a
national securities exchange but are quoted on the NASDAQ National Market
("NASDAQ"), the fair market value per share shall be deemed to be the average of
the high and low sale prices on the date upon which the option is granted as
reported by NASDAQ or, if the Shares are not quoted on such date or NASDAQ is
not open for business on such date, the fair market value per Share shall be the
average of the high and low sale price determined as of the closest preceding
date on which NASDAQ shall have reported the Shares.

      For purposes of this Plan, the determination by the Board of Directors or
the Committee, as the case may be, of the fair market value of a Share shall be
conclusive.

      3. Term of Options and Limitations on the Right of Exercise. The term of
each option will be for such period as the Board of Directors or the Committee,
as the case may be, shall determine, provided that, except as otherwise provided
herein, in no event may any option granted hereunder be exercisable more than 10
years from the date of grant of such option (five years in the case of an
Incentive Option granted to a 10% Shareholder). Each option shall become
exercisable in such installments and at such times as may be designated by the
Board of Directors or the Committee, as the case may be, and set forth in the
agreement related to the grant of options. To the extent not exercised,
installments shall accumulate and be exercisable, in whole or in part, at any
time after becoming exercisable, but not later than the date the option expires.
Stock options may provide for acceleration of exercisability in the event of the
death, disability or retirement of the optionee.

      The Board of Directors or the Committee, as the case may be, shall have
the right to limit, restrict or prohibit, in whole or in part, from time to
time, conditionally or unconditionally, rights to exercise any option granted
hereunder.

      To the extent that an option is not exercised within the period of
exercisability specified therein, it shall expire as to the then unexercised
part.

                                      -3-
<PAGE>
      4. Exercise of Options. Options granted under the Plan shall be exercised
by the optionee as to all or part of the Shares covered thereby by the giving of
written notice of the exercise thereof to the Company's stock plan
administration group, Wells Fargo Bank, NA, or such other nominee as may be
selected by the Company, specifying the number of Shares to be purchased,
accompanied by payment therefore made to the Company for the full purchase price
of such Shares or in such other manner as the Company may direct or as provided
in the applicable option agreement.

      Upon the exercise of an option granted hereunder, the Company shall cause
the purchased Shares to be issued only when it shall have received the full
purchase price for the Shares in cash; provided, however, that in lieu of cash,
the holder of an option may, to the extent permitted by applicable law, exercise
an option in whole or in part, by any method permitted by the Committee.

      Notwithstanding the foregoing, the Company, in its sole discretion, may
establish cashless exercise procedures whereby an option holder, subject to the
requirements of Rule 16b-3, Regulation T, federal income tax laws, and other
federal, state and local tax and securities laws, can exercise an option or a
portion thereof without making a direct payment of the option price to the
Company, including a program whereby option shares would be sold on behalf of
and at the request of an option holder by a designated broker and the exercise
price would be satisfied out of the sale proceeds and delivered to the Company.
If the Company so elects to establish a cashless exercise program, the Company
shall determine, in its sole discretion, and from time to time, such
administrative procedures and policies as it deems appropriate and such
procedures and policies shall be binding on any option holder wishing to utilize
the cashless exercise program.

      If an option granted hereunder shall be exercised by the legal
representative of a deceased option holder or former option holder or by a
person who acquired an option granted hereunder by bequest or inheritance or by
reason of the death of any option holder or former option holder, written notice
of such exercise shall be accompanied by a certified copy of letters
testamentary or equivalent proof of the right of such legal representative or
other person to exercise such option.

      5. Nontransferability of Options. An Incentive Option granted hereunder
shall not be transferable, whether by operation of law or otherwise, other than
by will or the laws of descent and distribution, and any Incentive Option
granted hereunder shall be exercisable, during the lifetime of the holder, only
by such holder. Except as determined by the Board of Directors of the Committee
or otherwise provided in the applicable option agreement, a NQSO granted
hereunder shall not be transferable, whether by operation of law or otherwise,
other than by will or the laws of descent and distribution, pursuant to a
qualified domestic relations order (as defined under the Code or Title I of the
Employee Retirement Income Security Act, or the rules thereunder), or for the
benefit of any immediate family member of the option holder. The option of any
person to acquire Shares and all his rights thereunder shall terminate
immediately if the holder: (a) attempts to or does sell, assign, transfer,
pledge, hypothecate or otherwise dispose of the option or any rights thereunder
to any other person except as permitted above; or (b) becomes insolvent or
bankrupt or becomes involved in any matter so that the option or any rights
thereunder becomes subject to being taken from him to satisfy his debts or
liabilities.

      6. Termination of Employment or Service. Except as set forth in Article
VII, unless otherwise specified by the Board of Directors or the Committee, as
the case may be, upon termination of employment of any option holder who was an
employee of the Company or its subsidiaries, any option previously granted to
such option holder, shall, to the extent not theretofore exercised, be cancelled
and become null and void, and all of the option holder's rights thereunder shall
terminate provided that:

            (a) if the employee option holder shall die while in the employ of
      the Company or any subsidiary of the Company, and at a time when such
      employee was entitled to exercise an option as herein provided, his estate
      or the legatees or distributees of his estate or of the option, as the
      case may be, of such option holder, may, within three years following the
      date of death, but not beyond that time and in no event later than the
      expiration date of the option, exercise such option, to the extent not
      theretofore exercised, in respect of any or all of such number of Shares
      which the option holder was entitled to purchase;

            (b) if an employee option holder terminates his or her employment by
      reason of taking retirement with the Company or a subsidiary on or after
      the attainment of "normal retirement age" under the Company's Employees
      Retirement Plan, or disability (as described in Section 22 (e) (3) of the
      Code and in the Company's Employees Retirement Plan), and at a time when
      such employee was entitled to exercise an

                                      -4-
<PAGE>
      option as herein provided, the Optionee shall have the right to exercise
      such option up to the earlier of (i) three years following the date of
      retirement or disability and (ii) the expiration of the option; and

            (c) if an employee option holder terminates his or her employment by
      reason of taking retirement with the Company or a subsidiary prior to the
      age 62 under the Company's Employees Retirement Plan, and at a time when
      such employee was entitled to exercise an option as herein provided, the
      Optionee shall have the right to exercise such option up to the earlier of
      (i) 90 days following the date of retirement and (ii) the expiration of
      the option.

      Any options granted to a non-employee director of the Company shall
terminate on the earliest to occur of the following:

            (i) Subject to Article VII, three years after the date on which the
      optionee ceases to be a director of the Company (during which period the
      Option shall be exercisable only to the extent exercisable on the date of
      such cessation); and

            (ii)  10 years after the date on which the option was granted.

      Any options issued or outstanding on or after December 31, 2004 shall
continue to vest in accordance with their terms (for up to one full year, in the
case of non-employee directors) if the option holder terminates his or her
employment with the Company or any of its subsidiaries or, in the case of
non-employee directors, ceases to be a director on or after attaining "Normal
Retirement Age" under the Company's Employee Retirement Plan (for this purpose,
service on the Company's Board shall be deemed service under the Company's
Employee Retirement Plan).

      In no event shall any person be entitled to exercise any option after the
expiration of the period of exercisability of such option as specified therein.

      For the purposes of the Plan, an employment relationship shall be deemed
to exist between an individual and a corporation if, at the time of the
determination, the individual was an "employee" of such corporation for purposes
of Section 422(a) of the Code.

      A termination of employment shall not be deemed to occur by reason of (i)
the transfer of an employee from employment by the Company to employment by a
subsidiary of the Company or (ii) the transfer of an employee from employment by
a subsidiary of the Company to employment by the Company or by another
subsidiary of the Company.

      7. Maximum Allotment of Incentive Options. If the aggregate fair market
value of Shares with respect to which Incentive Options are exercisable for the
first time by an employee during any calendar year (under all stock option plans
of the Company and any parent or any subsidiary of the Company) exceeds
$100,000, any options which otherwise qualify as Incentive Options, to the
extent of the excess, will be treated as NQSOs.

      VI. PERFORMANCE SHARE AWARDS

      1. General. Performance Share awards may be granted alone or in addition
to any other awards granted under the Plan. The provisions of Performance Share
awards need not be the same with respect to each recipient. Performance Share
awards granted under the Plan shall be in such form as the Board of Directors or
the Committee, as the case may be, may from time to time approve. Each grant of
a Performance Share award shall be evidenced by an agreement executed on behalf
of the Company by an officer designated by the Board of Directors or the
Committee, as the case may be, and accepted by the recipient. Such agreement
shall describe the Performance Share award and state that such award is subject
to all the terms and provisions of the Plan and shall contain such other terms
and provisions, consistent with the Plan, as the Board of Directors or the
Committee, as the case may be, may approve. Each Performance Share awarded under
the Plan shall entitle the grantee to receive one Share upon vesting of such
Performance Share.

      2. Restrictions. Each Performance Share award shall vest upon (A) the
passage of time and/or (B) the attainment by the Company of specified
performance objectives. Company performance objectives may be expressed in terms
of (i) earnings per share, (ii) pre-tax profits (either on the Company or
business unit level), (iii) net earnings or net worth, (iv) return on equity or
assets, (v) any combination of the foregoing, or (vi) any other standard or
standards deemed appropriate by the Board of Directors or the Committee, as the
case may be, at the

                                      -5-
<PAGE>
time the award is granted. Such time periods (the "Performance Period") and
performance goals shall be set by the Board of Directors or the Committee, as
the case may be, in its sole discretion.

      Performance Share awards shall become vested in a recipient upon the lapse
of the Performance Period, if any, and/or the attainment of the associated
performance goals set forth in the agreement between the recipient and the
Company. Performance Share awards shall vest in such installments and at such
times as may be designated by the Board of Directors or the Committee, as the
case may be, and set forth in the agreement related to the granting of the
Performance Share awards. The agreement evidencing the Performance Share awards
may provide for acceleration of vesting in the event of the death, disability or
retirement of the recipient.

      3. Stock Certificate. No stock certificates shall be issued to the
recipient with respect to Performance Share awards until such time as the
Performance Share awards vest.

      4. Treatment of Dividends. If any ordinary cash dividends are declared or
paid on Shares, the record date of which is prior to the forfeiture or the
vesting of Performance Share awards, the holder of the Performance Share awards
shall be entitled to receive an amount equal to the amount of the per Share
dividend declared for each Performance Share. Such dividends shall be paid to
such recipients at the same time and in the same manner as dividends are paid to
stockholders of the Company.

      5. Nontransferability. Subject to the provisions of this Plan and the
applicable agreement, during the period when the Performance Shares have not
vested, the recipient shall not be permitted to sell, transfer, pledge, assign
or otherwise encumber Performance Shares awarded under the Plan.

      6. Shareholder Rights. The recipient shall have no rights with respect to
the Performance Shares or any Shares related thereto until they have vested,
including no right to vote the Performance Shares or such Shares, other than the
right to receive dividends as set forth in the Plan.

      7. Termination of Employment. Subject to the provisions of Paragraph 2
above, all unvested Performance Shares shall be forfeited upon termination of
employment.

      VII. CHANGE OF CONTROL

      Notwithstanding anything to the contrary contained herein, upon a Change
of Control (as defined below) of the Company, (i) all options shall immediately
vest and become exercisable in full during the remaining term thereof, and shall
remain so, whether or not the option holder to whom such options have been
granted remains an employee of the Company or its subsidiaries, and (ii) the
restrictions applicable to any or all Performance Share awards shall lapse and
such awards shall be fully vested.

      In the event of certain transactions such as those involving a change in
the composition of the Board of Directors, sale of the Company's shares of
capital stock or assets, reorganization, merger, liquidation, etc., the Board of
Directors, in its sole discretion, may, but is not required to, deem such event
to be a "Change of Control." Notwithstanding the foregoing, a Change of Control
shall be deemed to have occurred upon the occurrence of any of the following
events:

            (a) any person (which shall mean and include an individual,
      corporation, partnership, group, association or other "person", as such
      term is used in Sections 13 and 14 of the Exchange Act) which theretofore
      beneficially owned less than 20% of the Shares then outstanding, acquires
      Shares in a transaction or series of transactions, not previously approved
      by the Board of Directors, that results in such person directly or
      indirectly owning at least 20% of the Shares then outstanding; or

            (b) the election or appointment, within a 12 month period, of
      persons to the Board who were not directors at the beginning of such 12
      month period, whose election or appointment was not approved by a majority
      of those persons who were Board members at the beginning of such period,
      and which newly elected or appointed Board members shall constitute a
      majority of the Board.

      Notwithstanding anything herein to the contrary, no Change of Control
(only with respect to the particular option holder or award grantee referred to
therein in the case of (A)) shall be deemed to have occurred by virtue of any
event which results from the acquisition, directly or indirectly, of 20% or more
of the outstanding Shares by (A)

                                      -6-
<PAGE>
the option holder or Performance Share recipient or a person including the
option holder or Performance Share recipient, (B) the Company, (C) a subsidiary
of the Company, or (D) any savings, pension or other employee benefit plan of
the Company or of a subsidiary, or any entity holding securities of the Company
recognized, appointed, or established by the Company or by a subsidiary for or
pursuant to the terms of such plan.

      VIII. PURCHASE FOR INVESTMENT

      Except as hereafter provided, the Company may require the recipient of
Shares pursuant to an option or award granted hereunder, upon receipt thereof,
to execute and deliver to the Company a written statement, in form satisfactory
to the Company, in which such holder represents and warrants that such holder is
purchasing or acquiring the Shares acquired thereunder for such holder's own
account, for investment only and not with a view to the resale or distribution
thereof, and agrees that any subsequent offer for sale or sale or distribution
of any of such Shares shall be made only pursuant to either (a) a Registration
Statement on an appropriate form under the Securities Act of 1933, as amended
(the "Act"), which Registration Statement has become effective and is current
with regard to the Shares being offered or sold, or (b) a specific exemption
from the registration requirements of the Act, but in claiming such exemption
the holder shall, prior to any offer for sale or sale of such Shares, obtain a
prior favorable written opinion, in form and substance satisfactory to the
Company, from counsel for or approved by the Company, as to the applicability of
such exemption thereto. The foregoing restriction shall not apply to (i)
issuances by the Company so long as the Shares being issued are registered under
the Act and a prospectus in respect thereof is current or (ii) reofferings of
Shares by affiliates of the Company (as defined in Rule 405 or any successor
rule or regulation promulgated under the Act) if the Shares being reoffered are
registered under the Act and a prospectus in respect thereof is current.

      IX. ISSUANCE OF CERTIFICATES; LEGENDS; PAYMENT OF EXPENSES

      The Company may endorse such legend or legends upon the certificates for
Shares issued pursuant to a grant hereunder and may issue such "stop transfer"
instructions to its transfer agent in respect of such Shares as, in its
discretion, it determines to be necessary or appropriate to (i) prevent a
violation of, or to perfect an exemption from, the registration requirements of
the Act, (ii) implement the provisions of the Plan and any agreement between the
Company and the optionee or grantee with respect to such Shares, or (iii) permit
the Company to determine the occurrence of a disqualifying disposition, as
described in Section 421(b) of the Code, of Shares transferred upon exercise of
an Incentive Option granted under the Plan.

      The Company shall pay all issue or transfer taxes with respect to the
issuance or transfer of Shares upon exercise of an option or grant of
Performance Share awards, as well as all fees and expenses necessarily incurred
by the Company in connection with such issuance or transfer, except fees and
expenses which may be necessitated by the filing or amending of a Registration
Statement under the Act, which fees and expenses shall be borne by the recipient
of the Shares unless such Registration Statement has been filed by the Company
for its own corporate purposes (and the Company so states).

      All Shares issued as provided herein shall be fully paid and
non-assessable to the extent permitted by law.

      X. WITHHOLDING TAXES

      An employee exercising an Option or acquiring Shares pursuant to the
vesting of Performance Shares may elect to have Shares withheld by the Company
in order to satisfy tax obligations. The amount of such Shares shall not be less
than nor exceed such number as determined by the Committee as appropriate to
avoid the award being subject to variable accounting under Accounting Principle
25 or treatment as a liability award under Financial Accounting Standard 123R.
Any such election shall be made pursuant to a written notice signed by the
employee. The Company may require an employee exercising an NQSO or disposing of
Shares acquired pursuant to the exercise of an Incentive Option in a
disqualifying disposition (within the meaning of Section 421(b) of the Code) or
acquiring Shares pursuant to Performance Share awards to reimburse the Company
for any taxes required by any government to be withheld or otherwise deducted
and paid by the Company in respect of the issuance or disposition of Shares. In
lieu thereof, the Company shall have the right to withhold the amount of such
taxes from any other sums due or to become due from the Company to the employee
upon such terms and conditions as the Board of Directors or the Committee, as
the case may be, shall prescribe. Notwithstanding the foregoing, the Committee
may, by the adoption of rules or otherwise, modify the provisions of this
Article X or impose such other restrictions or limitations as may be necessary
to ensure that the withholding transactions described above will be exempt
transactions under Section 16(b) of the Exchange Act.

                                      -7-
<PAGE>
      With respect to withholding required hereunder, an optionee or holder of a
Performance Share award may elect, subject to the approval of the Board of
Directors or the Committee, as the case may be, to satisfy the withholding
requirement, in whole or in part, by having the Company withhold Shares having a
fair market value (as determined under the provisions of Article V, Paragraph 2)
on the date the tax is to be determined equal to the minimum statutory total tax
which could be imposed on the transaction. All such elections shall be
irrevocable, made in writing, signed by the optionee or holder, and shall be
subject to any restrictions or limitations that the Board of Directors or the
Committee, as the case may be, in its sole discretion, deems appropriate.

      If an optionee makes a disposition, within the meaning of Section 424(c)
of the Code and regulations promulgated thereunder, of any Share or Shares
issued to such optionee pursuant to the exercise of an Incentive Option within
the two-year period commencing on the day after the date of the grant or within
the one-year period commencing on the day after the date of transfer of such
Share or Shares to the optionee pursuant to such exercise, the optionee shall,
within 10 days of such disposition, notify the Company thereof, by delivery of
written notice to the Company at its principal executive office.

      XI. DEFERRAL

      The Board of Directors or the Committee, as the case may be, may permit an
optionee or holder of Performance Share awards to defer such individual's
receipt of Shares that would otherwise be due to such optionee or holder by
virtue of the exercise of an option or the lapse of restrictions with respect to
Performance Share awards. If any such deferral election is required or
permitted, the Board of Directors or the Committee, as the case may be, shall,
in its sole discretion, establish rules and procedures for such deferrals. The
Committee may provide for such provisions as it deems necessary with respect to
an award, including after it is granted, to prevent the award from being subject
to or violating the requirements of Section 409A of the Code.

      XII. LISTING OF SHARES AND RELATED MATTERS

      If at any time the Board of Directors or the Committee, as the case may
be, shall determine in its discretion that the listing, registration or
qualification of the Shares covered by the Plan upon any national securities
exchange or under any state or federal law or the consent or approval of any
governmental regulatory body, is necessary or desirable as a condition of, or in
connection with, the sale or purchase of Shares under the Plan, no Shares shall
be issued unless and until such listing, registration, qualification, consent or
approval shall have been effected or obtained, or otherwise provided for, free
of any conditions not acceptable to the Board of Directors or the Committee, as
the case may be. Notwithstanding the foregoing, none of the Company, the
Committee or the Board of Directors shall be obligated to list, register,
qualify or otherwise seek an exemption from the foregoing with respect to the
Shares.

      XIII. AMENDMENT OF THE PLAN

      The Board of Directors or the Committee, as the case may be, may, from
time to time, amend the Plan, provided that no amendment shall be made, without
the approval of the stockholders of the Company, that will (i) increase the
total number of Shares which may be issued under the Plan (other than an
increase resulting from an adjustment provided for in Article II, (ii) modify
the provisions of the Plan relating to eligibility, (iii) materially increase
the benefits accruing to participants under the Plan, or (iv) extend the maximum
period of the Plan. The Board of Directors or the Committee, as the case may be,
shall be authorized to amend the Plan and the awards granted hereunder to permit
the Incentive Options granted hereunder to qualify as incentive stock options
within the meaning of Section 422 of the Code (or such successor provision) and
to comply with Rule 16b-3 of the Exchange Act. The rights and obligations under
any option or award granted before amendment of the Plan or any unexercised
portion of such option shall not be adversely affected by amendment of the Plan
or the option without the consent of the holder of the option or the award.

      XIV. TERMINATION OR SUSPENSION OF THE PLAN

      The Board of Directors or the Committee, as the case may be, may at any
time suspend or terminate the Plan. The Plan, unless sooner terminated by action
of the Board of Directors or the Committee, as the case may be, shall terminate
as provided in Article XVII. An option or award may not be granted while the
Plan is suspended or after it is terminated. Rights and obligations under any
option or award granted while the Plan is in effect shall not be altered or
impaired by suspension or termination of the Plan, except upon the consent of
the person to whom the option or award was granted. The power of the Board of
Directors or the Committee, as the case may be, to

                                      -8-
<PAGE>
construe and administer any options and awards granted prior to the termination
or suspension of the Plan under Article III nevertheless shall continue after
such termination or during such suspension.

      XV. GOVERNING LAW

      The Plan, such options and awards as may be granted thereunder and all
related matters shall be governed by, and construed and enforced in accordance
with, the laws of the State of Delaware.

      XVI. PARTIAL INVALIDITY

      The invalidity or illegality of any provision herein shall not be deemed
to affect the validity of any other provision.

      XVII. EFFECTIVE DATE, DURATION OF THE PLAN

      The Plan shall become effective on the date it is approved by the
Company's stockholders, and shall remain in effect, subject to the provisions of
Article VII, until terminated by the Board of Directors. In no event may any
options or Performance Shares be granted under the Plan on or after the tenth
anniversary of the date the Plan is approved by the company's stockholders;
provided, however, that the term of previously granted Options and Performance
Shares may extend beyond that date.

                                      -9-

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