Document:

2008 Management Equity Incentive Plan

 EXHIBIT 10.1 
 MINE SAFETY APPLIANCES COMPANY 
 2008 MANAGEMENT EQUITY INCENTIVE PLAN 

Amended and Restated Through February 25, 2011 
 SECTION 1. PURPOSE. 
 The purpose of the 2008 Management Equity Incentive Plan of Mine Safety
Appliances Company (the “Plan”), as amended and restated, is to benefit the Company’s shareholders by encouraging high levels of performance by individuals whose performance is a key element in achieving the Company’s continued
success by rewarding the creation of shareholder value, and to enable the Company to recruit, reward, retain and motivate employees to work as a team to achieve the Company’s goals. 
 SECTION 2. DEFINITIONS IN LAST SECTION. 
 For purposes of the Plan, capitalized terms, unless
defined where the respective term first appears in this Plan, shall have the meanings given in the last Section hereof. 
 SECTION 3. ELIGIBILITY.

 Employees are eligible to receive Awards under the Plan; provided however Awards may be granted only to Employees who are designated
as Participants from time to time by the Committee. The Committee shall determine which Employees shall be Participants, the types of Awards to be made to Participants and the terms, conditions and limitations applicable to the Awards. 

SECTION 4. AWARDS. 
 Awards may include, but
are not limited to, those described in this Section 4. The Committee may grant Awards singly, in tandem or in combination with other Awards, as the Committee may in its sole discretion determine; provided that Non-Qualified Stock Options may
not be granted in tandem with Incentive Stock Options. Subject to the other provisions of this Plan, Awards may also be granted in combination or in tandem with, in replacement of, or as alternatives to, grants or rights under this Plan and any
other employee benefit or compensation plan of the Company. 
 4.1 Stock Options 

A Stock Option is a right to purchase a specified number of Shares at a specified price during such specified time as the Committee shall determine.

	 	(a)	Options granted may be either of a type that complies with the requirements of incentive stock options as defined in Section 422 of the Code (“Incentive Stock
Options”) or of a type that does not comply with such requirements (“Non-Qualified Stock Options”). The requirements imposed by the Code and the regulations thereunder for qualification as an Incentive Stock Option, whether or not
specified in this Plan, shall be deemed incorporated within any Award Agreement pertaining to an Incentive Stock Option. 

  

	 	(b)	The exercise price per Share of any Stock Option shall be no less than the Fair Market Value per Share subject to the option on the date the Stock Option is granted, except that
in the case of an Incentive Stock Option granted to an Employee who, immediately prior to such grant, owns stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any subsidiary
(a “Ten Percent Employee”), the exercise price per Share shall not be less than one hundred ten percent (110%) of such Fair Market Value per Share on the date the Incentive Stock Option is granted. For purposes of this
Section 4.1(b), an individual (i) shall be considered as owning not only shares of stock owned individually but also all shares of stock that are at the time owned, directly or indirectly, by or for the spouse, ancestors, lineal
descendants and brothers and sisters (whether by the whole or half blood) of such individual and (ii) shall be considered as owning proportionately any shares owned, directly or indirectly, by or for any corporation, partnership, estate or
trust in which such individual is a shareholder, partner or beneficiary. No dividend equivalents may be granted in connection with any Stock Option or Stock Appreciation Right. 

 

	 	(c)	The term of any Stock Option shall not be greater than ten years from its date of grant, except that in the case of an Incentive Stock Option granted to a Ten Percent Employee,
such term shall not be greater than five years. 

  

	 	(d)	A Stock Option may be exercised, in whole or in part, by giving written notice of exercise to the Company, specifying the number of Shares to be purchased, and the Stock Option
may be subject to performance conditions and other terms as the Committee may determine from time to time, consistent with the Plan. 

  

	 	(e)	At the discretion of, and in accordance with the rules established by the Committee, the exercise price of the Stock Option may be paid (i) by one or any combination of the
following: in cash or the tender of Stock already owned by the Participant for more than six months (or such other period of time as the Committee deems appropriate) having a Fair Market Value on the date of exercise equal to the option price for
the shares being purchased or (ii) by providing cash forwarded through a broker or other agent-sponsored exercise or financing program or (iii) through such other means the Committee determines are consistent with the Plan’s purpose
and applicable law. No fractional Shares will be issued or accepted. 

  

	 	(f)	 Notwithstanding any other provision contained in the Plan or in any Award Agreement, but subject to the possible exercise of the Committee’s discretion

  
 -2- 

	 	
contemplated in the last sentence of this Section 4.1(f), the aggregate Fair Market Value on the date of grant, of the Shares with respect to which Incentive Stock Options are exercisable
for the first time by an Employee during any calendar year under all plans of the corporation employing such Employee, any parent or subsidiary corporation of such corporation and any predecessor corporation of any such corporation shall not exceed
$100,000, or such other or successor limit imposed by the Code. If the date on which one or more of such Incentive Stock Options could first be exercised would be accelerated pursuant to any provision of the Plan or any Award Agreement, and the
acceleration of such exercise date would result in a violation of the restriction set forth in the preceding sentence, then, notwithstanding any such provision, but subject to the provisions of the next succeeding sentence, the exercise dates of
such Incentive Stock Options shall be accelerated only to the date or dates, if any, that do not result in a violation of such restriction and, in such event, the exercise dates of the Incentive Stock Options with the lowest option prices shall be
accelerated to the earliest such dates. The Committee may, in its discretion, authorize the acceleration of the exercise date of one or more Incentive Stock Options even if such acceleration would violate the $100,000 restriction set forth in the
first sentence of this paragraph and even if such Incentive Stock Options are thereby converted in whole or in part to Non-Qualified Stock Options. 

  

	 	(g)	Unless otherwise provided in an Award Agreement, if the recipient of a Stock Option ceases to be an Employee of the Company and its Subsidiaries for any reason, any outstanding
Stock Options held by the optionee shall be exercisable according to the following provisions and shall otherwise terminate: 

  

	 	(i)	If an optionee ceases to be an Employee for any reason other than resignation without the consent of the Company, termination for cause, Retirement, Disability or death, any then
outstanding Stock Option held by such optionee which is exercisable by the optionee immediately prior to termination shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within one year after the date
the optionee terminates employment, whichever is the shorter period; 

  

	 	(ii)	If the optionee is terminated for cause, any outstanding Stock Option held by the optionee, whether or not exercisable immediately prior to termination, shall terminate as of the
date of resignation or termination; 

  

	 	(iii)	If an optionee resigns without the consent of the Company, any then outstanding Stock Option held by such optionee which is exercisable by the optionee immediately prior to
termination shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within thirty days after the date the optionee terminates employment, whichever is the shorter period; 

 

	 	(iv)	 If an optionee terminates employment by reason of Retirement, any then outstanding Stock Option held by the optionee at the time of Retirement

  
 -3- 

	 	
(whether or not exercisable by the optionee prior to Retirement) shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within five years after the
date the optionee terminates employment, whichever is the shorter period; 

  

	 	(v)	If an optionee terminates employment by reason of Disability, any then outstanding Stock Option held by the Optionee at the time of termination of employment (whether or not
exercisable by the optionee prior to termination of employment) shall be exercisable by the optionee at any time prior to the expiration date of such Stock Option or within five years after the date the optionee terminates employment, whichever is
the shorter period; 

  

	 	(vi)	Following the death of an optionee during employment with the Company or a Subsidiary, any outstanding Stock Option held by the optionee at the time of death (whether or not
exercisable by the optionee immediately prior to death) shall be exercisable by the person entitled to do so under the Will of the optionee, or, if the optionee shall fail to make testamentary disposition of the Stock Option or shall die intestate,
by the legal representative of the optionee at any time prior to the expiration date of such Stock Option or within five years after the date of death, whichever is the shorter period; and 

 

	 	(vii)	Following the death of an optionee after ceasing to be an Employee and during a period when a Stock Option is exercisable, any outstanding Stock Option held by the optionee at
the time of death shall be exercisable by such person entitled to do so under the Will of the optionee or by such legal representative (but only to the extent the Stock Option was exercisable by the optionee immediately prior to the death of the
optionee) within five years after the date of death, but not later than the expiration date of such Stock Option. 

 4.2 Stock
Appreciation Rights 
 A Stock Appreciation Right is a right to receive, upon surrender of the right, an amount payable in cash and/or
Shares under such terms and conditions as the Committee shall determine. 
  

	 	(a)	A Stock Appreciation Right may be granted in tandem with part or all of (or in addition to, or completely independent of) a Stock Option or any other Award under this Plan. A
Stock Appreciation Right issued in tandem with a Stock Option may only be granted at the time of grant of the related Stock Option. 

  

	 	(b)	 The amount payable in cash and/or Shares with respect to each right shall be equal in value to a percentage (including up to a maximum of 100%) of the amount by
which the Fair Market Value per Share on the exercise date exceeds the Fair Market Value per Share on the date of grant of the Stock Appreciation Right. The applicable percentage shall be established by the Committee. The

  
 -4- 

	 	
exercise price for a Stock Appreciation Right shall be no less than the Fair Market Value per Share subject to the Stock Appreciation Right on the date the Stock Appreciation Right is granted.
The Award Agreement may state whether the amount payable is to be paid wholly in cash, wholly in Shares or partly in each; if the Award Agreement does not so state the manner of payment, the Committee shall determine such manner of payment at the
time of payment. The amount payable in Shares, if any, is determined with reference to the Fair Market Value per Share on the date of exercise. The term of a Stock Appreciation Right shall not be greater than ten years from its date of grant.

  

	 	(c)	Stock Appreciation Rights issued in tandem with Stock Options shall be exercisable only to the extent that the Stock Options to which they relate are exercisable. Upon exercise
of the tandem Stock Appreciation Right, and to the extent of such exercise, the Participant’s underlying Stock Option shall automatically terminate. Similarly, upon the exercise of the tandem Stock Option, and to the extent of such exercise,
the Participant’s related Stock Appreciation Right shall automatically terminate. 

  

	 	(d)	Notwithstanding any other provision of this Plan to the contrary, with respect to a Stock Appreciation Right granted in connection with an Incentive Stock Option: (i) the
Stock Appreciation Right will expire no later than the expiration of the underlying Incentive Stock Option; (ii) the value of the payout with respect to the Stock Appreciation Right may be for no more than one hundred percent (100%) of the
difference between the exercise price of the underlying Incentive Stock Option and the Fair Market Value of the Shares subject to the underlying Incentive Stock Option at the time the Stock Appreciation Right is exercised; and (iii) the Stock
Appreciation Right may be exercised only when the Fair Market Value of the Shares subject to the Incentive Stock Option exceeds the per Share exercise price of the Incentive Stock Option. 

 

	 	(e)	Unless otherwise provided in an Award Agreement, the post-termination of employment provisions of Section 4.1(g) shall also apply to stock appreciation rights.

 4.3 Restricted Stock 
  

	 	(a)	 Restricted Stock is Stock that is issued to a Participant and is subject to such terms, conditions and restrictions as the Committee deems appropriate, which may
include, but are not limited to, restrictions upon the sale, assignment, transfer or other disposition of the Restricted Stock and the requirement of forfeiture of the Restricted Stock upon termination of employment under certain specified
conditions and/or the failure to achieve performance conditions. The restriction period applicable to Restricted Stock shall, in the case of a time-based restriction, be not less than three years, with no more frequent than ratable vesting over such
period or, in the case of a performance-based restriction period, be not less than one year. The Committee may provide for the lapse of any such term or condition or waive any term or condition based on such factors or criteria as the Committee

  
 -5- 

	 	
may determine; provided, however, except in the case of death, Disability, retirement, involuntary termination other than for cause, or Change in Control, the Committee will not accelerate the
vesting of, or waive the restrictions with respect to, Restricted Stock. Subject to the restrictions stated in this Section 4.3 and in the applicable Award Agreement, the Participant shall have, with respect to Awards of Restricted Stock, all
of the rights of a shareholder of the Company, including the right to vote the Restricted Stock and the right to receive any cash dividends on such Stock. Unless otherwise determined by the Committee, dividends or other distributions on Restricted
Stock which are paid in Shares or other securities or property shall be held subject to the same terms, conditions and restrictions as the Restricted Stock on which they are paid. 

 

	 	(b)	Unless otherwise provided in an Award Agreement, if the recipient of Restricted Stock ceases to be an Employee of the Company and its Subsidiaries for any reason, any outstanding
shares of Restricted Stock held by the awardee shall vest or be forfeited according to the following provisions: 

  

	 	(i)	If an awardee ceases to be an Employee by reason of Retirement, any shares of Restricted Stock held by the awardee at the time of Retirement shall immediately vest;

  

	 	(ii)	If an awardee ceases to be an Employee by reason of Disability, any shares of Restricted Stock held by the awardee at the time of termination of employment shall immediately
vest; 

  

	 	(iii)	If an awardee ceases to be an Employee by reason of death, any shares of Restricted Stock held by the awardee at the time of termination of employment shall immediately vest; and

  

	 	(iv)	If an awardee ceases to be an Employee for any reason other than Retirement, Disability or death, any shares of Restricted Stock held by the awardee at the time of termination of
employment shall be immediately forfeited. 

 4.4 Performance Awards 

 

	 	(a)	 Performance Awards may be granted under this Plan from time to time based on such terms and conditions as the Committee deems appropriate; provided that such
Awards shall not be inconsistent with the terms and purposes of this Plan. Performance Awards are Awards the payment or vesting of which is contingent upon the achievement of specified levels of performance under specified Performance Criteria
during a specified Performance Period by the Company, a subsidiary or subsidiaries, any branch, department, business unit or other portion thereof or the Participant individually, and/or upon a comparison of such performance with the performance of
a peer group of corporations, prior Performance Periods or other measure selected or defined by the Committee at the time the Performance Award is granted. Performance Awards may be in the form

  
 -6- 

	 	
of performance units, performance shares, performance-based options pursuant to Section 4.1 and such other forms of Performance Awards as the Committee shall determine. The maximum amount
that may be paid under all Performance Awards under the Plan to any one Participant during a calendar year shall in no event exceed $5,000,000, in the case of Performance Awards paid in cash or property (other than Shares) and 150,000 Shares, in the
case of Performance Awards paid in Shares. In the case of multi-year Performance Periods, the amount which is earned in any one calendar year is the amount paid for the Performance Period divided by the number of calendar years in the period. In
applying this limit, the amount of cash and the number of Shares earned by a Participant shall be measured as of the close of the applicable calendar year which ends the Performance Period, regardless of the fact that certification by the Committee
and actual payment to the Participant may occur in a subsequent calendar year or years. 

  

	 	(b)	Following completion of the applicable Performance Period, and prior to any payment of a Performance Award to the Participant, the Committee shall determine in accordance with
the terms of the Performance Award and shall certify in writing whether the applicable performance goal or goals were achieved, or the level of such achievement, and the amount, if any, earned by the Participant based upon such performance. For this
purpose, approved minutes of the meeting of the Committee at which certification is made shall be sufficient to satisfy the requirement of a written certification. Performance Awards are not intended to provide for the deferral of compensation, such
that, unless a deferred election or arrangement is otherwise offered consistent with Section 409A of the Code, payment of Performance Awards shall be paid within two and one-half months following the end of the calendar year in which vesting
occurs or such other time period if and to the extent as may be required to avoid characterization of such Awards as deferred compensation. 

  

	 	(c)	Unless otherwise provided in an Award Agreement, the following provisions shall apply if the recipient of a Performance Award ceases to be an Employee of the Company and its
Subsidiaries for any reason prior to payment of the Performance Award: 

  

	 	(i)	If an awardee ceases to be an Employee by reason of Retirement, the Employee will be entitled to a pro-rata portion of the Performance Award based upon the number of whole and
partial months of employment during the Performance Period, contingent upon achievement of the performance goals and subject to any Negative Discretion retained by the Committee; 

 

	 	(ii)	If an awardee ceases to be an Employee by reason of Disability, the Employee will be entitled to a pro-rata portion of the Performance Award based upon the number of whole and
partial months of employment during the Performance Period, contingent upon achievement of the performance goals and subject to any Negative Discretion retained by the Committee; 

  
 -7- 

	 	(iii)	If an awardee ceases to be an Employee by reason of death, the Employee will be entitled to a pro-rata portion of the Performance Award based upon the number of whole and partial
months of employment during the Performance Period, contingent upon achievement of the performance goals and subject to any Negative Discretion retained by the Committee; and 

 

	 	(iv)	If an awardee ceases to be an Employee for any reason other than Retirement, Disability or death, any Performance Award shall be immediately forfeited. 

4.5 Other Awards 
 The Committee may from
time to time grant Stock, other Stock-based and non-Stock-based Awards under the Plan (singly, in tandem or in combination with other Awards), including without limitation those Awards pursuant to which Shares are or may in the future be acquired,
Awards denominated in Stock units, securities convertible into Stock, phantom securities, dividend equivalents and cash. The Committee shall determine the terms and conditions of such other Stock, Stock-based and non-Stock-based Awards, provided
that such Awards shall not be inconsistent with the terms and purposes of this Plan. Other Awards are not intended to provide for the deferral of compensation, such that payment of other Awards shall be paid within two and one-half months following
the end of the calendar year in which vesting occurs or such other time period if and to the extent as may be required to avoid characterization of such Awards as deferred compensation. 
 SECTION 5. AWARD AGREEMENTS. 
 Each Award under this Plan shall be evidenced by an Award
Agreement setting forth the number of Shares or other securities, Stock Appreciation Rights, or units subject to the Award, if any, and such other terms and conditions applicable to the Award as are determined by the Committee consistent with the
Plan, including without limitation, the ability to vary particular Award Agreement terms as provided in the Plan. 
  

	 	(a)	Award Agreements shall include the following terms: 

  

	 	(i)	Non-assignability: A provision that the relevant Award shall not be assigned, pledged or otherwise transferred except by will or by the laws of descent and distribution and that
during the lifetime of a Participant, the Award shall be exercised only by such Participant or by the Participant’s guardian or legal representative; provided, however, that, in the Committee’s discretion, and except in the case of
Incentive Stock Options which may not be transferred, an Award Agreement may expressly provide for specifically limited transferability other than for value. 

 

	 	(ii)	 Termination of Employment: A provision describing the treatment of an Award in the event of the Retirement, Disability, death or other termination of a
Participant’s employment with the Company, including 

  
 -8- 

	 	
but not limited to terms relating to the vesting, time for exercise, forfeiture or cancellation of an Award in such circumstances. 

 

	 	(iii)	Rights as Shareholder: A provision that a Participant shall have no rights as a shareholder with respect to any securities covered by an Award until the date the Participant
becomes the holder of record. Except as provided in Section 8 hereof, no adjustment shall be made for dividends or other rights, unless the Award Agreement specifically requires such adjustment, in which case, grants of dividend equivalents or
similar rights shall not be considered to be a grant of any other shareholder right. 

  

	 	(iv)	Withholding: A provision requiring the withholding of applicable taxes required by law from all amounts paid in satisfaction of an Award to a Participant. In the case of an Award
paid in cash, the withholding obligation shall be satisfied by withholding the applicable amount and paying the net amount in cash to the Participant. In the case of Awards paid in Shares or other securities of the Company, (i) a Participant
may satisfy the withholding obligation by paying the amount of any taxes in cash, (ii) with the approval of the Committee (or, in the case of deduction, by the unilateral action of the Committee), Shares or other securities may be deducted by
the Company from the payment or delivered to the Company by the Participant to satisfy the obligation in full or in part as long as such withholding or delivery of Shares or other securities does not violate any applicable laws, rules or regulations
of federal, state or local authorities. The number of Shares or other securities to be deducted or delivered shall be determined by reference to the Fair Market Value of such Shares or securities on the applicable date. 

 

	 	(b)	Award Agreements may include such other terms as are necessary and appropriate to effect an Award to the Participant, including but not limited to (i) the term of the Award,
(ii) vesting provisions, (iii) deferrals, (iv) any requirements for continued employment with the Company, (v) any other restrictions or conditions (including performance requirements) on the Award and the method by which
restrictions or conditions lapse, (vi) the effect upon the Award of a Change in Control, (vii) the price, amount or value of Awards, (viii) such Participant’s permitted transferees, if any, (ix) all Shares issued or issuable
to such Participant in connection with an Award in the event of such Participant’s termination of employment, and (x) any other terms and conditions which the Committee shall deem necessary and desirable. 

SECTION 6. SHARES OF STOCK SUBJECT TO THE PLAN. 
  

	 	(a)	 Subject to the adjustment provisions of Section 8 hereof, the maximum aggregate number of Shares which may be granted pursuant to the Plan is the sum of
(i) the number of Shares available under the Plan immediately prior to shareholder approval of this amendment and restatement (as of February 25, 2011, 371,056 Shares were available, subject to the counting, adjustment and substitution

  
 -9- 

	 	
provisions of the Plan) and (ii) 2,000,000 Shares, all of which may be issued as Incentive Stock Options. 

 

	 	(b)	Any Shares which are subject to any unexercised or undistributed portion of any terminated, expired, exchanged or forfeited Award (or Awards settled in cash in lieu of Shares)
shall become available for grant pursuant to new Awards. If the exercise price of an Award is paid by delivering to the Company Shares previously owned by the Participant or if Shares are delivered or withheld for purposes of satisfying a tax
withholding obligation, the number of Shares covered by the Award equal to the number of Shares so delivered or withheld shall, however, be counted against the number of Shares granted and shall not again be available for Awards under the Plan.
Stock Appreciation Rights to be settled in Shares shall be counted in full against the number of Shares available for award under the Plan regardless of the number of Shares issued upon settlement of the Stock Appreciation Right.

  

	 	(c)	The Committee may make such additional rules for determining the number of Shares granted under the Plan as it deems necessary or appropriate. 

 

	 	(d)	The Stock which may be issued pursuant to an Award under the Plan may be treasury Stock or authorized but unissued Stock or Stock acquired, subsequently or in anticipation of the
transaction, in the open market or otherwise to satisfy the requirements of the Plan, or any combination of such Stock. 

  

	 	(e)	Subject to the adjustment provisions of Section 8 hereof, the maximum aggregate number of Shares available for grants of Stock Options or Stock Appreciation Rights to any
one Participant under the Plan shall not exceed 150,000 Shares per calendar year. The limitation in the preceding sentence shall be interpreted and applied in a manner consistent with Section 162(m) of the Code. 

SECTION 7. ADMINISTRATION. 
  

	 	(a)	The Plan and all Awards granted pursuant thereto shall be administered by the Committee so that, insofar as is possible and practicable, transactions with respect to Awards under
the Plan shall be exempt from Section 16(b) of the Exchange Act. A majority of the members of the Committee shall constitute a quorum. The vote of a majority of a quorum (or the unanimous consent in writing of the members of the Committee)
shall constitute action by the Committee. 

  

	 	(b)	The Committee shall periodically determine the Participants in the Plan and the nature, amount, pricing, timing, and other terms of Awards to be made to such individuals.

  

	 	(c)	 The Committee shall have the power to interpret and administer the Plan. All questions of interpretation with respect to the Plan, the number of Shares or other
securities, Stock Appreciation Rights, or units granted, and the terms of any Award Agreements shall be determined by the Committee, and its determination 

  
 -10- 

	 	
shall be final and conclusive upon all parties in interest. In the event of any conflict between an Award Agreement and the Plan, the terms of the Plan shall govern. 

 

	 	(d)	The Committee may delegate to the officers or employees of the Company the authority to execute and deliver such instruments and documents, to do all such ministerial acts and
things, and to take all such other ministerial steps deemed necessary, advisable or convenient for the effective administration of the Plan in accordance with its terms and purpose. 

 

	 	(e)	Notwithstanding the foregoing provisions of this Section 7, no power given the Committee herein shall be used after a Change in Control to affect detrimentally the rights of
any Participant with respect to any Awards hereunder which are outstanding immediately prior to the Change in Control. 

  

	 	(f)	Notwithstanding any other provision of the Plan, the Committee may determine that an Award shall be forfeited and/or shall be repaid to the Company pursuant to the terms of any
Company recoupment or similar policy or if the Participant engages in misconduct or violation of any Company policy, and any incentive-based compensation otherwise payable or paid to current or former executive officers shall be forfeited and/or
repaid to the Company as may be required pursuant to applicable regulatory requirements. 

 SECTION 8. EQUITABLE ADJUSTMENTS.

 If a dividend or other distribution shall be declared upon the Common Stock payable in shares of the Common Stock, the number of
shares of Common Stock then subject to any outstanding Options, Stock Appreciation Rights, Performance Awards or other Awards, the number of shares of Common Stock which may be issued under the Plan but are not then subject to outstanding Options,
Stock Appreciation Rights, Performance Awards or other Awards and the maximum number of shares as to which Options, Stock Appreciation Rights or Performance Awards may be granted and as to which shares may be awarded under Sections 4.4 and
6(e), shall be adjusted by adding thereto the number of shares of Common Stock which would have been distributable thereon if such shares had been outstanding on the date fixed for determining the shareholders entitled to receive such stock dividend
or distribution. Shares of Common Stock so distributed with respect to any Restricted Stock held in escrow shall also be held by the Company in escrow and shall be subject to the same restrictions as are applicable to the Restricted Stock on which
they were distributed. 
 If the outstanding shares of Common Stock shall be changed into or exchangeable for a different number or kind
of shares of stock or other securities of the Company or another corporation, or cash or other property, whether through reorganization, reclassification, recapitalization, stock split-up, combination of shares, merger or consolidation, then there
shall be substituted for each share of Common Stock subject to any then outstanding Option, Stock Appreciation Right, Performance Award or Other Award, and for each share of Common Stock which may be issued under the Plan but which is not then
subject to any outstanding Option, Stock Appreciation Right, Performance Award or Other Award, the number and kind of shares 

  
 -11- 

 
of stock or other securities (and in the case of outstanding Options, Stock Appreciation Rights, Performance Awards or other Awards, the cash or other property) into which each outstanding share
of the Common Stock shall be so changed or for which each such share shall be exchangeable. Unless otherwise determined by the Committee in its discretion, any such stock or securities, as well as any cash or other property, into or for which any
Restricted Stock held in escrow shall be changed or exchangeable in any such transaction shall also be held by the Company in escrow and shall be subject to the same restrictions as are applicable to the Restricted Stock in respect of which such
stock, securities, cash or other property was issued or distributed. 
 In case of any adjustment or substitution as provided for in this
Section 8, the aggregate option price for all Shares subject to each then outstanding Option, Stock Appreciation Right, Performance Award or Other Award, prior to such adjustment or substitution shall be the aggregate option price for all
shares of stock or other securities (including any fraction), cash or other property to which such Shares shall have been adjusted or which shall have been substituted for such Shares. Any new option price per share or other unit shall be carried to
at least three decimal places with the last decimal place rounded upwards to the nearest whole number. 
 If the outstanding shares of the
Common Stock shall be changed in value by reason of any spin-off, split-off or split-up, or dividend in partial liquidation, dividend in property other than cash, or extraordinary distribution to shareholders of the Common Stock, (a) the
Committee shall make any adjustments to any then outstanding Option, Stock Appreciation Right, Performance Award or Other Award, which it determines are equitably required to prevent dilution or enlargement of the rights of optionees and awardees
which would otherwise result from any such transaction, and (b) unless otherwise determined by the Committee in its discretion, any stock, securities, cash or other property distributed with respect to any Restricted Stock held in escrow or for
which any Restricted Stock held in escrow shall be exchanged in any such transaction shall also be held by the Company in escrow and shall be subject to the same restrictions as are applicable to the Restricted Stock in respect of which such stock,
securities, cash or other property was distributed or exchanged. 
 No adjustment or substitution provided for in this Section 8
shall require the Company to issue or sell a fraction of a Share or other security. Accordingly, all fractional Shares or other securities which result from any such adjustment or substitution shall be eliminated and not carried forward to any
subsequent adjustment or substitution. Owners of Restricted Stock held in escrow shall be treated in the same manner as owners of Common Stock not held in escrow with respect to fractional Shares created by an adjustment or substitution of Shares,
except that, unless otherwise determined by the Committee in its discretion, any cash or other property paid in lieu of a fractional Share shall be subject to restrictions similar to those applicable to the Restricted Stock exchanged therefor. In
the event of any other change in or conversion of the Common Stock, the Committee may in its discretion adjust the outstanding Awards and other amounts provided in the Plan in order to prevent the dilution or enlargement of rights of Participants.

  
 -12- 

 SECTION 9. CHANGE IN CONTROL. 
 Notwithstanding any other provision of the Plan to the contrary, and unless the applicable Award Agreement shall otherwise provide, in the event the employment of a Participant is terminated by the Company and its
Affiliates without “Cause”, as defined in this Section 9, within two years following the occurrence of a Change in Control of the Company, (i) all Stock Options and freestanding Stock Appreciation Rights which are then
outstanding hereunder shall become fully vested and exercisable and (ii) all restrictions with respect to Shares of Restricted Stock which are then outstanding hereunder shall lapse, and such Shares shall be fully vested and nonforfeitable.
Notwithstanding any other provision of this Plan to the contrary, and unless the applicable Award Agreement shall otherwise provide, if a Change in Control occurs prior to the end of any Performance Period, with respect to all Performance Awards
which are then outstanding hereunder, all uncompleted Performance Periods shall terminate, the target level of performance set forth with respect to each Performance Criterion under such Performance Awards shall be deemed to have been attained and a
pro rata portion (based on the ratio of (i) the number of full and partial months which have elapsed from the beginning of the Performance Period through the Change in Control to (ii) the number of months originally contained in the
Performance Period) of each such Performance Award shall become vested and the remainder of each such Performance Award shall be forfeited. For purposes of this Section 9, following a Change in Control, “Cause” means any termination
of employment where it can be shown that the Participant has (i) willfully failed to perform his or her employment duties for the Company or an Affiliate, (ii) willfully engaged in conduct that is materially injurious to the Company or an
Affiliate, monetarily or otherwise, or (iii) committed acts that constitute a felony under applicable federal or state law or constitute common law fraud. For purposes of this definition, no act or failure to act on the Participant’s part
shall be considered “willful” unless done, or omitted to be done, by him or her not in good faith and without reasonable belief that his or her action or omission was in the best interest of the Company or Affiliate. 

SECTION 10. RIGHTS OF EMPLOYEES. 
  

	 	(a)	Status as an eligible Employee shall not be construed as a commitment that any Award will be made under the Plan to such eligible Employee or to eligible Employees generally.

  

	 	(b)	Nothing contained in the Plan (or in any other documents related to this Plan or to any Award) shall confer upon any Employee or Participant any right to continue in the employ
of the Company or any of its subsidiaries or constitute any contract or limit in any way the right of the Company or any subsidiary to change such person’s compensation or other benefits or to terminate the employment of such person with or
without cause. 

 SECTION 11. COMPLIANCE WITH APPLICABLE LEGAL REQUIREMENTS. 

Awards shall be subject to the requirement that if at any time the Committee shall determine, in its discretion, that the listing, registration or
qualification of the Shares subject to the Awards upon any securities exchange or under any state or federal securities or other law or regulation, or the consent or approval of any governmental regulatory body, is necessary or desirable as a
condition to or in connection with the granting of the Awards or the issuance or purchase of Shares thereunder, no Awards may be granted or exercised, in whole or in part, 

  
 -13- 

 
unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. The holders of such Awards will
supply the Company with such certificates, representations and information as the Company shall request and shall otherwise cooperate with the Company in obtaining such listing, registration, qualification, consent or approval. 

SECTION 12. AMENDMENT AND TERMINATION. 
 The
Board may at any time amend, suspend or terminate the Plan. The Committee may at any time alter or amend any or all Award Agreements under the Plan to the extent permitted by law. However, no such action by the Board or by the Committee shall impair
the rights of Participants under outstanding Awards without the consent of the Participants affected thereby. Further, the Board shall not amend the Plan without the approval of the Company’s shareholders to the extent such approval is required
by law, agreement or the rules of any exchange upon which the Stock shall be listed. Except as provided in Section 8 of the Plan, the purchase price of any outstanding Stock Option, Stock Appreciation Right or other purchase right may not be
reduced, whether through amendment, cancellation or replacement in exchange with another Stock Option, Stock Appreciation Right, other Award or cash payment, unless such action or reduction is approved by the shareholders of the Company. 

SECTION 13. UNFUNDED PLAN. 
 The Plan shall
be unfunded. Neither the Company nor the Board shall be required to segregate any assets that may at any time be represented by Awards made pursuant to the Plan. Neither the Company, the Committee, nor the Board shall be deemed to be a trustee of
any amounts to be paid under the Plan. 
 SECTION 14. LIMITS OF LIABILITY. 

 

	 	(a)	Any liability of the Company to any Participant with respect to an Award shall be based solely upon contractual obligations created by the Plan and the Award Agreement.

  

	 	(b)	Neither the Company nor any member of the Board or of the Committee, nor any other person participating in any determination of any question under the Plan, or in the
interpretation, administration or application of the Plan, shall have any liability to any party for any action taken or not taken, in good faith under the Plan. 

 SECTION 15. EFFECTIVE DATE AND DURATION OF THE PLAN. 
 The Plan, as amended and restated, shall
become effective (the “Effective Date”) upon the approval of a majority of the votes cast at a duly held meeting of shareholders at which a quorum representing a majority of the outstanding voting stock of the Corporation is, either in
person or by proxy, present and voting, within twelve (12) months after the date the Plan is initially adopted by the Board, contingent upon shareholder approval thereof. Subject to obtaining such approval, the Committee shall have authority to
grant Awards hereunder from the 

  
 -14- 

 
Effective Date until the tenth (10th) anniversary of the Effective Date, subject to the ability of the Board to terminate the Plan as provided in Section 12 hereof. Absent additional
shareholder approval, no Performance Award may be granted under the Plan subsequent to the time required for re-approval under the regulations issued pursuant to Code Section 162(m). 
 SECTION 16. FOREIGN PLAN REQUIREMENTS. 
 To the extent the Committee deems it necessary,
appropriate or desirable to comply with foreign law or practices and to further the purpose of the Plan, the Committee may, without amending this Plan, establish special rules and/or sub-plans applicable to awards granted to Participants who are
foreign nationals, are employed outside the United States, or both, and may grant awards to such Participants in accordance with those rules. In the event that the payment amount is calculated in a foreign currency, the payment amount will be
converted to U.S. dollars using the prevailing exchange rate published in The Wall Street Journal (or in such other reliable publication as the Committee, in its discretion, may determine to rely on) on the relevant date.

 SECTION 17. DEFINITIONS. 
 For
purposes of the Plan, the following terms, as used herein, shall have the respective meanings specified: 
  

	 	(a)	“Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act. 

 

	 	(b)	“Award” or “Awards” means an award granted pursuant to Section 4 hereof. 

 

	 	(c)	“Award Agreement” means an agreement described in Section 5 hereof entered into between the Company and a Participant, setting forth the terms, conditions and any
limitations applicable to the Award granted to the Participant. 

  

	 	(d)	“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act. 

 

	 	(e)	“Beneficiary” means a person or persons designated by a Participant (if the terms of the relevant Award Agreement permit such a designation) to receive, in the event of
death, any unpaid portion of an Award held by the Participant. Any Participant so permitted by an Award Agreement may, subject to such limitations as may be prescribed by the Committee, designate one or more persons primarily or contingently as
beneficiaries in writing upon forms supplied by and delivered to the Company, and may revoke such designations in writing. If a Participant having a right to designate a beneficiary under an Award Agreement fails effectively to designate a
beneficiary, then the Award will be paid in the following order of priority: 

  

	 	(I)	Surviving spouse; 

  

	 	(II)	Surviving children in equal shares; or 

  
 -15- 

	 	(III)	To the estate of the Participant. 

  

	 	(f)	“Board” means the Board of Directors of the Company as it may be comprised from time to time. 

 

	 	(g)	A “Change in Control” shall be deemed to have occurred if the event set forth in any one of the following paragraphs of this Section 17(g) shall have occurred:

  

	 	(I)	any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person any
securities acquired directly from the Company or its Affiliates) representing thirty percent (30%) or more of the combined voting power of the Company’s then outstanding securities, excluding any Person who becomes such a Beneficial Owner
in connection with a transaction described in clause (i) of paragraph (III) below; or 

  

	 	(II)	the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on February 28, 2008, constitute the Board
and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company)
whose appointment or election by the Board or nomination for election by the Company’s shareholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors on
February 28, 2008 or whose appointment, election or nomination for election was previously so approved or recommended; or 

  

	 	(III)	there is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation, other than (i) a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity or any parent thereof), in combination with the ownership of any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any subsidiary of the Company, at least fifty-one percent (51%) of
the combined voting power of the securities of the Company or such surviving entity or any parent thereof outstanding immediately after such merger or consolidation, or (ii) a merger or consolidation effected to implement a recapitalization of
the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing thirty percent (30%) or more of the combined voting power of the Company’s then
outstanding securities; or 

  
 -16- 

	 	(IV)	the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by the
Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least fifty-one percent (51%) of the combined voting
power of the voting securities of which are owned by shareholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. 

Notwithstanding the foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of the consummation of any
transaction or series of integrated transactions immediately following which the record holders of the Stock of the Company immediately prior to such transaction or series of transactions continue to have substantially the same proportionate
ownership in an entity which owns all or substantially all of the assets of the Company immediately following such transaction or series of transactions. 
  

	 	(h)	“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute. References to specified provisions of the Code shall also
include any successor provisions. 

  

	 	(i)	“Committee” means a committee of the Board appointed to administer the Plan (which committee may also be the Compensation Committee of the Board). The Committee shall
be composed of two or more directors as appointed from time to time to serve by the Board; provided however, that any member of the Committee participating in the taking of any action under the Plan shall qualify as (1) an “outside
director” as then defined under Section 162(m) of the Code or any successor provision, (2) a “non-employee director” as then defined under Rule 16b-3 or any successor rule and (3) an independent director under the
rules of any stock exchange on which the Shares may be listed and under any other applicable regulatory requirements. 

  

	 	(j)	“Company” means Mine Safety Appliances Company, a Pennsylvania corporation, or any successor corporation (except that Company shall not mean any successor corporation
thereto in determining under Section 17(g) hereof whether or not any Change in Control of the Company has occurred). 

  

	 	(k)	“Disability” shall mean the inability, in the opinion of the Committee, of a Participant, because of an injury or sickness, to work at a reasonable occupation which is
available with the Company or at any gainful occupation to which the Participant is or may become fitted, except that in the case of Incentive Stock Options, Disability shall mean permanent and total disability as defined in Section 422(e)(3)
of the Code and, in the case of any deferred compensation, Disability shall be as defined in Section 409A of the Code. 

  

	 	(l)	“Employee” means any individual who is an employee of the Company or any Participating Subsidiary. 

  
 -17- 

	 	(m)	“Exchange Act” means the Securities Exchange Act of 1934, as amended and in effect from time to time, or any successor statute. 

 

	 	(n)	“Fair Market Value” of a Share, unless otherwise provided in the applicable Award Agreement, means: 

 

	 	(I)	If the Stock is admitted to trading on one or more national securities exchanges, such as the New York Stock Exchange or the NASDAQ Stock Exchange, 

 

	 	(A)	the closing price per Share as reported on the reporting system selected by the Committee on the relevant date; or 

 

	 	(B)	in the absence of reported sales on that date, the closing price per Share on the next day for which there is a reported sale; or 

 

	 	(II)	If the Stock is not admitted to trading on any national securities exchange, but is admitted to quotation on NASDAQ as an “over the counter” traded security, the
average of the highest bid and lowest asked prices per Share on the relevant date; or 

  

	 	(III)	If the preceding clauses (I) and (II) do not apply, the Fair Market Value determined by the Committee, using such criteria as it shall determine, in good faith and in its
sole discretion, to be appropriate for such valuation. 

  

	 	(o)	“Negative Discretion” means any discretion to reduce or eliminate the compensation or other economic benefit otherwise due upon attainment of a performance goal.

  

	 	(p)	“Participant” means an Employee who has been designated by the Committee to receive an Award Pursuant to this Plan. 

 

	 	(q)	“Participating Subsidiary” means a subsidiary of the Company, of which the Company beneficially owns (whether at the date of adoption of this Plan or at a later date),
directly or indirectly, more than 50% of the aggregate voting power of all outstanding classes and series of stock. 

  

	 	(r)	“Performance Award” means an Award which is granted pursuant to Section 4.4 hereof and is contingent upon the performance of all or a portion of the Company and/or
its subsidiaries and/or which is contingent upon the individual performance of the Participant to whom it is granted. 

  

	 	(s)	 “Performance Criteria” means one or more preestablished, objective measures of performance during a Performance Period by the Company, a subsidiary or
subsidiaries, any department or other portion thereof or the Participant individually, selected by the Committee in its discretion to determine whether a Performance Award has been earned in whole or in part. Performance Criteria may be based on
earnings per share, return on equity, assets or investment, sales, 

  
 -18- 

	 	
gross profits, expenses, stock price, total shareholder return, costs, net income, operating margin, revenue from operations, income from operations as a percent of capital employed, income from
operations, cash flow, market share, earnings (including EBITDA and EBIT), operating cash flow, operating cash flow as a percent of capital employed, economic value added, gross margin, workforce diversity, number of accounts, workers’
compensation claims, budgeted amounts, turnover rate, inventory, inventory turns and/or obsolete inventory. Performance Criteria based on such performance measures may be based either on the level of performance of the Company, subsidiary or portion
thereof under such measure for the Performance Period and/or upon a comparison of such performance with the performance under such measure during a prior period or with the performance of a peer group of corporations selected or defined by the
Committee at the time of making a Performance Award. The Committee may in its discretion also determine to use other objective performance measures as Performance Criteria. 

 

	 	(t)	“Performance Period” means an accounting period of the Company or a subsidiary of not less than one year, as determined by the Committee in its discretion.

  

	 	(u)	“Person” shall have the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that such term shall
not include (i) the Company or any of its subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily holding securities
pursuant to an offering of such securities, (iv) a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of Stock of the Company or (v) any individual or
entity (including the trustees (in such capacity) of any such entity which is a trust) which is directly or indirectly, the Beneficial Owner of securities of the Company representing five percent (5%) or more of the combined voting power of the
Company’s then outstanding securities immediately before the Effective Date or any Affiliate of any such individual or entity, including, for purposes of this Section 17(t), any of the following: (A) any trust (including the trustees
thereof in such capacity) established by or for the benefit of any such individual; (B) any charitable foundation (whether a trust or a corporation, including the trustees or directors thereof in such capacity) established by any such
individual; (C) any spouse of any such individual; (D) the ancestors (and spouses) and lineal descendants (and spouses) of such individual and such spouse; (E) the brothers and sisters (whether by the whole or half blood or by
adoption) of either such individual or such spouse; or (F) the lineal descendants (and their spouses) of such brothers and sisters. 

  

	 	(v)	“Restricted Stock” means Shares which have certain restrictions attached to the ownership thereof, which may be issued under Section 4.3. 

  
 -19- 

	 	(w)	“Retirement” means a Participant’s termination of employment occurring (a) on or after attainment of age 55 and the Participant is credited with at least
fifteen years of employment with the Company and its affiliates; (b) on or after attainment of age 60 and the Participant is credited with at least ten years of employment with the Company and its affiliates; or (c) on or after attainment
of age 65 and the Participant is credited with at least five years of employment with the Company and its affiliates. 

  

	 	(x)	“Share” means a share of Stock. 

  

	 	(y)	“Stock” means the Common Stock, without par value, of the Company, or, in the event that the outstanding Common Stock is hereafter changed into, or exchanged for,
different stock or securities, such other stock or securities. 

  

	 	(z)	“Stock Appreciation Right” means a right, the value of which is determined relative to the appreciation in value of Shares, which may be issued under Section 4.2.

  

	 	(aa)	“Stock Option” means a right to purchase Shares granted pursuant to Section 4.1 and includes Incentive Stock Options and Non-Qualified Stock Options as defined in
Section 4.1. 

  
 -20-EX-10.11.2

 Exhibit 10.11.2 

FORM OF SEVERANCE COMPENSATION AGREEMENT FOR SENIOR MANAGEMENT 

(2011 U.S. VERSION) 

DATE 
 NAME 

LOCATION 
 Dear NAME: 

The Board of Directors (the “Board”) of GrafTech International Ltd. (the “Corporation”) has authorized
the grant to you of this Severance Compensation Agreement (this “Agreement”). The Board recognizes that the possibility of a Change in Control of the Corporation exists, as is the case with many publicly held corporations, and that
the uncertainty and questions which it may raise among management may result in the departure or distraction of management personnel to the detriment of the Corporation and its stockholders. 

The Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of
members of the Company’s management, including yourself, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from a possible Change in Control of the Corporation. The Board has also
determined that it is in the best interests of the Corporation and its stockholders to ensure your continued availability to the Company in the event of a potential Change in Control of the Corporation. References herein to the
“Company” mean the Corporation and its subsidiaries. 
 In order to induce you to remain in the employ of the
Company and in consideration of your continued service to the Company, the Corporation and its subsidiary or subsidiaries signing the signature page of this Agreement jointly and severally agree that you shall receive the severance benefits set
forth in this Agreement in the event your employment with the Company is terminated subsequent to a Change in Control of the Corporation under the circumstances described below. 

1. Definitions. 
 a. “Change in Control of the Corporation” shall be deemed to occur if any of the following circumstances shall occur: 

(i) any “person” or “group” within the meaning of Section 13(d) or 14(d)(2) of the Securities
Exchange Act of 1934 (the “Act”) becomes the beneficial owner of 15% or more of the then outstanding Common Stock or 15% or more of the then outstanding voting securities of the Corporation; 

(ii) any “person” or “group” within the meaning of Section 13(d) or 14(d)(2) of the Act acquires
by proxy or otherwise the right to vote on any matter or question with respect to 15% or more of the then outstanding Common Stock or 15% or more of the combined voting power of the then outstanding voting securities of the Corporation; 

 (iii) Present Directors and New Directors cease for any reason to constitute
a majority of the Board (and, for purposes of this clause (iii), “Present Directors” shall mean individuals who at the beginning of any consecutive twenty-four month period were members of the Board and “New
Directors” shall mean individuals whose election by the Board or whose nomination for election as directors by the Corporation’s stockholders was approved by a vote of at least two-thirds of the directors then in office who were
Present Directors or New Directors); 
 (iv) the stockholders of the Corporation approve a plan of complete
liquidation or dissolution of the Corporation; or 
 (v) consummation of: (x) a reorganization,
restructuring, recapitalization, reincorporation, merger or consolidation of the Corporation (a “Business Combination”) unless, following such Business Combination, (a) all or substantially all of the individuals and entities
who were the beneficial owners of the Common Stock and the voting securities of the Corporation outstanding immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the common equity securities and
the combined voting power of the voting securities of the corporation or other entity resulting from such Business Combination outstanding after such Business Combination (including, without limitation, a corporation or other entity which as a
result of such Business Combination owns the Corporation or all or substantially all of the assets of the Corporation or the Company either directly or through one or more subsidiaries) in substantially the same proportions as their ownership
immediately prior to such Business Combination of outstanding Common Stock and the combined voting power of the outstanding voting securities of the Corporation, respectively, (b) no “person” or “group” within the meaning of
Section 13(d) or 14(d)(2) of the Act (excluding (1) any corporation or other entity resulting from such Business Combination and (2) any employee benefit plan (or related trust) of the Company or any corporation or other entity
resulting from such Business Combination) beneficially owns 15% or more of the common equity securities or 15% or more of the combined voting power of the voting securities of the corporation or other entity resulting from such Business Combination
outstanding after such Business Combination, except to the extent that such beneficial ownership existed prior to such Business Combination with respect to the Common Stock and the voting securities of the Corporation, and (c) at least a
majority of the members of the board of directors (or similar governing body) of the corporation or other entity resulting from such Business Combination were members of the Board at the time of the execution of the initial agreement providing for
such Business Combination or at the time of the action of the Board approving such Business Combination, whichever is earlier; or (y) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or
substantially all of the assets of the Corporation or the Company, whether held directly or indirectly through one or more subsidiaries (excluding any pledge, mortgage, grant of security interest, sale-leaseback or similar transaction, but including
any foreclosure sale), provided, that, for purposes of clauses (v)(x) and (v)(y) above, the divestiture of less than substantially all of the assets of the Corporation or the Company in one transaction or a series of related transactions, whether
effected by sale, lease, exchange, spin-off, sale of stock of or merger or consolidation of a subsidiary, transfer or otherwise, shall not constitute a Change in Control of the Corporation. 

  
 2 

 Notwithstanding the foregoing, a Change in Control of the Corporation shall not be deemed to occur
(x) pursuant to clause (i) or (ii) above, solely because 15% or more of the then outstanding Common Stock or the then outstanding voting securities of the Corporation is or becomes beneficially owned or is directly or indirectly held
or acquired by one or more employee benefit plans (or related trusts) maintained by the Company and (y) with respect to any “deferral of compensation” under Section 409A (as defined below) under the Agreement unless the relevant
event or circumstance also constitutes a “change in the ownership or effective control” of the Corporation or a “change in the ownership of a substantial portion of the assets” of the Corporation within the meaning of
Section 409A. 
 For purposes of this Agreement, references to “beneficial owner” and correlative phrases shall have the
same definition as set forth in Rule 13d-3 under the Act (except that ownership by underwriters for purposes of a distribution or offering shall not be deemed to be “beneficial ownership”), references to the Act or rules and regulations
thereunder shall mean those in effect on June 20, 2000 and references to “Common Stock” shall mean the common stock of the Corporation. 
 b. “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 c. “Date of Termination” shall mean: 
 (i) in case
employment is terminated due to your Disability, thirty (30) days after Notice of Termination is given (provided that you shall not have returned to the full-time performance of your duties during such thirty (30) day period); and

 (ii) in all other cases, the date specified in the Notice of Termination (which shall not be less than thirty
(30) nor more than sixty (60) days, respectively, from the date such Notice of Termination is given). 

  
 3 

 d. “Disability” shall mean you are unable to engage in any
substantial gainful activity by reason of a medically determinable physical or mental impairment that can be expected to result in death or last for a continuous period of not less than 12 months. 

e. “Good Reason for Resignation” shall mean the occurrence of any of the following: 

(i)(A) a change in your status or position with the Company, which in your reasonable judgment does not represent a status
or position comparable to your status or position immediately prior to a Change in Control of the Corporation or a promotion from your status or position immediately prior to a Change in Control of the Corporation; or 

(B) a reduction in the level of your reporting responsibility as it existed immediately prior to a Change in Control of
the Corporation; or 
 (C) the assignment to you of any duties or responsibilities or a diminution of duties or
responsibilities, which in your reasonable judgment are inconsistent with your status or position with the Company in effect immediately prior to a Change in Control of the Corporation; 

it being understood that any of the foregoing in connection with a termination of your employment for Retirement, Disability or
Termination for Cause shall not constitute Good Reason for Resignation; 
 (ii) a reduction by the Company in the
annual rate of your base salary as in effect immediately prior to the date of a Change in Control of the Corporation or as the same may be increased from time to time thereafter, or the Company’s failure to increase the annual rate of your base
salary for a calendar year in an amount at least equal to the average percentage increase in base salary for all employees of the Company with Severance Compensation Agreements in the preceding calendar year (and the Company agrees that, within
three (3) days after your request, the Company shall notify you of the average percentage increase in base salary for all such employees in the calendar year preceding your request); 

(iii) the failure by the Company to continue in effect any compensation plan in which you participate as in effect
immediately prior to a Change in Control of the Corporation, including but not limited to the Savings Program, any of the Incentive Compensation Plans or any substitute plans adopted prior to a Change in Control of the Corporation, unless an
arrangement satisfactory to you (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan, or the failure by the Company to continue your participation therein on at least as favorable a basis, both in terms of
the amount of benefits provided and the level of your participation relative to other participants, as existed immediately prior to a Change in Control of the Corporation; 

  
 4 

 (iv) the Company requiring you to be based outside of a thirty-five
(35) mile radius from where your office is located immediately prior to a Change in Control of the Corporation, except for required travel on the Company’s business to an extent substantially consistent with your business travel
obligations immediately prior to a Change in Control of the Corporation; 
 (v) the failure by the Company to
continue to provide you with benefits at least as favorable as those enjoyed by you (and your dependents, if applicable) under any of the Company’s pre-retirement and post-retirement life insurance, medical, health and accident, and disability
plans or any other plan of the Company intended to benefit employees in which you (or your dependents) were participating immediately prior to a Change in Control of the Corporation, the taking of any action by the Company which would directly or
indirectly materially reduce any of such benefits or deprive you (or your dependents) of any material fringe benefit enjoyed by you (or your dependents) immediately prior to a Change in Control of the Corporation, or the failure by the Company to
provide you with the number of annual paid vacation days to which you were annually entitled immediately prior to a Change in Control of the Corporation; 
 (vi) the failure of the Company to obtain a satisfactory agreement from any Successor (as defined in Paragraph 4(a) hereof) to assume and agree to perform this Agreement, as contemplated in Paragraph 4(a)
hereof; or 
 (vii) the failure of the Company to pay to you an Incentive Compensation Award, deferred
compensation or other compensation award earned, but not paid, prior to a Change in Control of the Corporation. 

f. “Incentive Compensation” means any compensation, variable compensation, bonus, stock option,
restricted stock or other benefit or award paid or payable, or made or to be made, under an Incentive Compensation Plan. 
 g. “Incentive Compensation Award” shall mean a payment or other benefit or award to you under any Incentive Compensation Plan. 

h. “Incentive Compensation Plan” shall mean any variable compensation or incentive compensation plan
maintained by the Company in which you were a participant immediately prior to a Change in Control of the Corporation, including but not limited to the GrafTech International Ltd. Incentive Compensation Plan (or a successor plan), the GrafTech
International Ltd. Executive Incentive Compensation Plan (or a successor plan) and the GrafTech International Ltd. 2005 Equity Incentive Plan (or a successor plan). 

  
 5 

 i. “Notice of Termination” shall mean a written notice as
provided in Paragraph 8 hereof. 
 j. “Retirement” shall mean your voluntary termination from
employment by the Company other than with Good Reason (i) (A) with the right to receive a non-actuarially reduced pension benefit under the Retirement Program (or a successor plan) or (B) if not eligible to participate therein or if
the Retirement Program (or a successor plan) is not then in effect or shall have been changed in a manner which makes it materially more onerous to become eligible to receive such a benefit than it was on July 13, 2000, at any time after
attaining age 62 with at least 10 years of employment with the Company or after attaining age 65 or after attaining that age where the sum of your age and years of employment with the Company equals or exceeds 85 or (ii) in accordance with any
other retirement arrangement which is established with your consent with respect to you. 
 k.
“Retirement Program” shall mean the GrafTech International Holdings Inc. Retirement Plan (together with all supplemental and excess plans related thereto), regardless of whether you are or would have been covered thereby.

 l. “Savings Program” shall mean the GrafTech International Holdings Savings Plan (or a
successor plan). 
 m. “Termination for Cause” shall mean termination of your employment upon
your willfully engaging in conduct demonstrably and materially injurious to the Company, monetarily or otherwise, provided that there shall have been delivered to you a copy of a resolution, duly adopted by the unanimous affirmative vote of the
entire membership of the Board at a meeting of the Board called and held for such purpose (after reasonable notice to you and an opportunity for you, together with your counsel, to be heard before the Board), finding that in the good faith opinion
of the Board you were guilty of the conduct set forth and specifying the particulars thereof in detail. 
 For purposes of this clause (m), no
act, or failure to act, on your part shall be deemed “willful” unless done, or omitted to be done, by you in bad faith and without reasonable belief that your action or omission was in the best interest of the Company. Any act or failure
to act based upon authority given pursuant to a resolution duly adopted by the Board or based upon the advice of counsel for the Company shall be conclusively presumed to be done or omitted to be done by you in good faith and in the best interests
of the Company. 
 n. “Variable Compensation Year” means a calendar year of an Incentive
Compensation Plan. 
 2. Compensation Upon Termination or While Disabled. Following a Change in Control of the
Corporation, you shall be entitled to the following benefits: 

  
 6 

 a. Termination Other Than for Retirement, Death, Disability or
Termination for Cause; Termination By Your Resignation with Good Reason for Resignation. If your employment by the Company shall be terminated subsequent to a Change in Control of the Corporation and during the term of this Agreement (x) by
the Company other than for Retirement, Death, Disability or Termination for Cause or (y) by you for Good Reason for Resignation, then you shall be entitled to the benefits provided below, without regard to any contrary provision of any plan:

 (i) Accrued Salary. The Company shall pay you, not later than the fifth day following the Date of
Termination, but in no event later than sixty (60) days following your “separation from service” within the meaning of Code Section 409A and the regulations promulgated thereunder (“Section 409A”), your base
salary and vacation pay accrued through the Date of Termination (including any banked vacation and any vested vacation for the calendar year in which the Date of Termination occurs) at the rate in effect at the time the Notice of Termination is
given (or at the rate in effect immediately prior to a Change in Control of the Corporation, if such rate was higher). 
 (ii) Accrued Incentive Compensation. The Company shall pay you, not later than thirty (30) days following your Date of Termination, but in no event later than sixty (60) days following
your “separation from service” within the meaning of Section 409A, the amount of your accrued Incentive Compensation which shall be determined as follows: 

(A) If the Date of Termination is after the end of a Variable Compensation Year, but before Incentive Compensation for
said Variable Compensation Year has been paid, the Company shall pay to you under this Agreement for your service during such Variable Compensation Year the amount of your target variable compensation payment (i.e., the percent of your salary grade
midpoint at risk) for such Variable Compensation Year. 
 (B) In addition, if the Date of Termination is other
than the first day of a Variable Compensation Year, the Company shall pay to you under this Agreement for your service during such Variable Compensation Year up to the Date of Termination, the amount of your target variable compensation payment
(i.e., the percent of your salary grade midpoint at risk) for such Variable Compensation Year (or if such target has not then been established, your target variable compensation award for the immediately preceding Variable Compensation Year),
multiplied by a fraction, the numerator of which is the total number of days which have elapsed in the current Variable Compensation Year to the Date of Termination and the denominator of which is three hundred sixty-five (365). 

  
 7 

 If there is more than one Incentive Compensation Plan, your accrued Incentive Compensation
under each Incentive Compensation Plan shall be determined separately for each such Plan. 
 For the purpose of this Paragraph
2(a)(ii), the amount of your target variable compensation payment shall be used, whether or not such Incentive Compensation was actually paid to you or was includible in your gross income for Federal, state, local, commonwealth or foreign income tax
purposes. 
 (iii) Insurance Coverage. The Company shall arrange to provide you (and your dependents, if
applicable) with life, disability, accident, dental and medical benefits substantially equivalent to those which you are receiving, or were entitled to receive, from the Company immediately prior to a Change in Control of the Corporation. Such
benefits shall be provided to you for the longer of (x) thirty-six (36) months after such Date of Termination or (y) the period during which such benefits would have been provided to you, as a terminated employee, under the applicable
life, disability, accident, dental and medical plans in effect immediately prior to a Change in Control of the Corporation (except that after a period of thirty six (36) months such benefits shall be provided to you on the same financial terms
and conditions as provided for under the respective plans). Such benefits shall be provided to you in lieu of any continuation coverage you would be eligible for under COBRA. 

(iv) Severance Payment. The Company shall pay as a severance payment to you, not later than the fifth day following
the Date of Termination, but in no event later than sixty (60) days following your “separation from service” within the meaning of Section 409A, a lump sum severance payment (the “Severance Payment”) equal to
(x) 2.99 times the sum of the amounts set forth in the following subparagraphs (A) and (B), less (y) the amount set forth in the following subparagraph (C). 

(A) The amount of your annual base salary, which shall be deemed to be the greater of your annual base salary which was
payable to you by the Company immediately prior to the Date of Termination or your annual base salary which was payable to you by the Company immediately prior to a Change in Control of the Corporation. 

(B) The amount of your Incentive Compensation (excluding stock option, restricted stock and other equity compensation
awards that are not part of, or in lieu of, awards under annual cost bonuses and similar benefits), which shall be deemed to be the greater of: 

  
 8 

 (I) the amount of your target variable compensation payment (i.e., the
percent of your salary grade midpoint at risk) for the year in which the Date of Termination occurs (or if such target has not then been established, your target variable compensation award for the immediately preceding Variable Compensation Year);
or 
 (II) the amount of your target variable compensation payment (i.e., the percent of your salary grade
midpoint at risk) for the year in which the Change in Control of the Corporation occurs (or if such target has not then been established, your target variable compensation award for the immediately preceding Variable Compensation Year). 

(C) Your other severance payments which shall be deemed to be the amount of any severance payment or the value of any
severance benefit received or to be received by you from the Company pursuant to any other plan of the Company. 
 For purposes
of calculations under this subparagraph (iv), the value attributable to any stock options, restricted stock or other equity-based benefit or award included in your Incentive Compensation shall be the value thereof as determined by the Company at the
time of the grant (and, in determining such value, the Black-Scholes method or other similar methodology (and assumptions and data) used by the Company at the time of grant shall be used and, if at the time of such grant, it was specified in writing
that the grant covered a period of more than one year, then the value of such grant shall be annualized by dividing such value by the number of years (or parts thereof) the grant was specified to cover) and the amounts of base salary and target
variable compensation payments and the values of stock options shall be the amounts calculated without regard to whether or not such amounts were actually paid to you or includible in your gross income for Federal, state, local, commonwealth or
foreign income tax purposes. 
 (v) Reduction in Severance Payment. The Severance Payment shall be reduced
only in the event specifically provided in this subparagraph (v). If the aggregate present value, as determined for purposes of Code Section 280G, of all amounts that are parachute payments for purposes of such Section exceeds the limitation
set forth in Code Section 280G(b)(2)(A)(ii), then there shall be a reduction in the amount of your Severance Payment to the minimum extent necessary (but in no event to less than zero) so that no portion of any such payment or benefit, as so
reduced, exceeds such limit such that the Severance Payment will not constitute a parachute payment within the meaning of Code Section 280G(b)(2)(A). Whether requested by you or the Corporation, the determination of whether any reduction in
such payments or benefits to be provided under this Agreement or otherwise is required pursuant to the preceding sentence will be made at the expense of the Corporation by the Corporation’s independent accountants. The fact that your right to
payments or benefits may be reduced by reason of the limitations contained in this subparagraph (v) will not of itself limit or otherwise affect any rights you have other than pursuant to this Agreement. 

  
 9 

 b. Payments While Disabled. During any period prior to the Date of
Termination and during the term of this Agreement that you are unable to perform your full-time duties with the Company, whether as a result of your Disability or as a result of a physical or mental disability that is not a Disability, you shall
continue to receive your base salary at the rate in effect at the commencement of any such period, together with all other compensation and benefits that are payable or provided under the Company’s benefit plans, including its disability plans.
After the Date of Termination for Disability, your benefits shall be determined in accordance with the Retirement Program and the disability, benefit, insurance and other applicable plans of the Company. The compensation and benefits, other than
salary and payments under the Retirement Program, payable or provided pursuant to this subparagraph (b) shall be the greater of (x) the amounts computed under the disability, benefit, insurance and other applicable plans in effect
immediately prior to a Change in Control of the Corporation and (y) the amounts computed under the disability, benefit, insurance and other applicable plans in effect at the time the compensation and benefits are paid. If the amounts payable
under clause (x) are greater, then the Corporation shall pay to you, at the same time as the disability payments are made, the excess of the benefits payable under clause (x) over the benefits payable under clause (y). 

c. Payments if Terminated for Cause, or Termination by You Other Than With Good Reason for Resignation. If your
employment shall be terminated by the Company as a Termination for Cause or by you other than with Good Reason for Resignation, the Company shall pay you your full base salary and accrued vacation pay (including any banked vacation and any vested
vacation for the calendar year in which the Date of Termination occurs) through the Date of Termination, at the rate in effect at the time Notice of Termination is given, plus any benefits or awards which have been earned or become payable but which
have not yet been paid to you. You shall receive any payment due under this subparagraph (c) on your Date of Termination not later than the fifth day following the Date of Termination, but in no event later than sixty (60) days following a
“separation from service” within the meaning of Section 409A. Thereafter, the Company shall have no further obligation to you under this Agreement. 

d. After Retirement or Death. If your employment shall be terminated by your Retirement, or by reason of your
death, your benefits shall be determined in accordance with the Company’s retirement and insurance programs then in effect. You are not entitled to any payments hereunder. 

  
 10 

 3. Term of Agreement. This Agreement shall commence on the date hereof and, subject
to the following two sentences, shall continue in effect through December 31, 2011; provided, however, that commencing on January 1, 2012 and each January 1 thereafter, the term of this Agreement shall automatically be extended for
one additional year unless, not later than September 30 of the preceding year, the Company or you shall have given written notice that it or you does not wish to extend this Agreement on the following January 1; provided further, however,
that, if the Company shall have given such a notice and if a Change in Control of the Corporation shall have occurred or been publicly reported, proposed or announced (regardless of whether done so by the Company or a third party) during the
original or any extended term of this Agreement or within three months thereafter, this Agreement shall be reinstated (if it shall have otherwise terminated pursuant to such notice by the Company) and shall continue in effect. In any event, the term
of this Agreement shall expire on the third (3rd) anniversary of the date of a Change in Control of the Corporation. In addition, in any event, this Agreement shall terminate if your employment is terminated by you or the Company prior to the
occurrence of a Change in Control of the Corporation. 
 4. Successors; Binding Agreement. 

a. Successors of the Company. The Company will require any Successor to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such assent at least five business days prior to the time a person becomes a
Successor (or where the Company does not have at least five business days advance notice that a person may become a Successor, within three business days after having notice that such person may become or has become a Successor) shall constitute
Good Reason for Resignation by you and, if a Change in Control of the Corporation has occurred or thereafter occurs, shall entitle you immediately to the benefits provided in Paragraph 2(a) hereof upon delivery by you of a Notice of Termination. For
purposes of this Agreement, “Successor” shall mean any person that obtains or succeeds to, or has the practical ability to control (either immediately or with the passage of time), the Company’s business directly, by merger or
consolidation, or indirectly, by purchase of voting securities of the Company, by acquisition of rights to vote voting securities of the Company or otherwise, including but not limited to any person or group that acquires the beneficial ownership or
voting rights described in Paragraph 1(a)(i) or 1(a)(ii). 
 b. Your Successor. This Agreement shall inure
to the benefit of and be enforceable by your personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If you should die following your Date of Termination while any amount would still be
payable to you hereunder if you had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to your devisee, legatee or other designee or, if there is no such designee, to
your estate. 
 5. Nature of Payments. All payments to you under this Agreement shall be considered severance payments in
consideration of your past service to the Company. 
 6. Validity. The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

  
 11 

 7. Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed to be an original but all of which together will constitute one and the same instrument. 
 8.
Notice. Any purported termination of your employment by the Company or by you following a Change in Control of the Corporation shall be communicated to the other party by a written Notice of Termination. A Notice of Termination by you shall
indicate in reasonable detail the facts and circumstances claimed to provide a basis for a Good Reason for Resignation. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by United States registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set forth on the first page of this Agreement, provided that all
notices to the Company shall be directed to the attention of the Board with a copy to the Secretary of the Company or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of
change of address shall be effective only upon receipt. 
 9. Fees and Expenses. The Company shall pay all legal fees and
related expenses incurred by you as a result of your termination following a Change in Control of the Corporation or by you in seeking to obtain or enforce any right or benefit provided by this Agreement (including all fees and expenses, if any,
incurred in contesting or disputing any such termination or incurred by you in seeking advice in connection therewith). 
 10.
Miscellaneous. No provision of this Agreement may be amended, modified, waived or discharged unless such amendment, modification, waiver or discharge is agreed to in writing and signed by you and such officer as may be specifically designated
by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or
dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not
expressly set forth in this Agreement. References in this Agreement to “plans” in the context of employee incentive, compensation, retirement, severance, medical, benefit, welfare, perquisite or related matters shall include
agreements, policies, arrangements, commitments, practices, resolutions and programs. 
 11. Conflicting Employment
Agreements. To the extent that you have or obtain after the date hereof a written employment agreement with the Company which contains provisions that conflict with this Agreement, this Agreement shall govern unless such employment agreement
specifically refers to this Paragraph 11 and states that such employment agreement governs. To the extent that such employment agreement provides for rights or benefits which are duplicative of those set forth in this Agreement, you shall be
entitled to only one such right or benefit (which shall be the one which, in your judgment if timely made, is most favorable to you). To the extent that such employment agreement provides for rights or benefits which are additional to those set
forth in this Agreement, this Agreement shall not impair in any way your entitlement to those additional rights or benefits. 

  
 12 

 12. Governing Law. The validity, interpretation, construction and performance of this
Agreement shall be governed by the laws of the State of Delaware (without regard to the choice of laws provisions thereof). The Company and you hereby agree to irrevocably submit to the jurisdiction of any State or Federal court sitting in the State
of Delaware, and any appellate court thereof, in any action or proceeding arising out of or relating to this Agreement. The Company and you hereby irrevocably agree that all claims in respect of such action or proceeding shall only be heard and
determined in a State or Federal court sitting in the State of Delaware. 
 13. Section 409A. 

a. Notwithstanding any provision of the Agreement to the contrary, distribution of any amount that constitutes
“deferred compensation” payable to you due to your “separation from service” within the meaning of Section 409A, shall not be made before six months after such separation from service or your death, if earlier (the
“Six Month Limitation”), if you are a Key Employee (as defined below). At the end of such six-month period, payments that would have been made but for the Six Month Limitation shall be paid in a lump sum, without interest, on the
first day of the seventh month following your separation from service and remaining payments shall commence, or continue, in accordance with the relevant provision of Section 2 of this Agreement. Notwithstanding the Six Month Limitation, in the
event that any amounts of “deferred compensation” payable to you due to your “separation from service” constitute “separation pay only upon an involuntary separation from service” within the meaning of Section 409A
(“Separation Pay”), then all or a portion of such Separation Pay, up to two times the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which the
separation from service occurs (i.e., $460,000 in the event of a separation from service during 2008), whether paid under this Agreement or otherwise, may be paid to you during the six-month period following such separation from service with the
Corporation. For purposes hereof, Key Employee shall mean an employee treated as a “specified employee” under Code Section 409A(a)(2)(B)(i), i.e., a key employee of the Corporation (as defined in Code Section 416(i), without
regard to paragraph (5) thereof). The Corporation shall determine which employees shall be deemed Key Employees using December 31st as an identification date. 

b. If you are a Key Employee, you shall be responsible for paying the premiums relating to any continuation of life,
disability or accident insurance benefits described in Section 2.a.(iii) of this Agreement during the six month period immediately following your “separation from service” within the meaning of Section 409A, and the Corporation
shall be responsible for paying any and all such premiums during the remainder of the period you are entitled to receive such benefits in accordance with Section 2.a.(iii) of this Agreement. The Corporation shall reimburse you for such premiums
paid by you in accordance with the preceding sentence on the first day of the seventh month following your “separation from service” within the meaning of Section 409A. 

  
 13 

 c. Notwithstanding anything in this Agreement or elsewhere to the contrary,
a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits that constitute “non-qualified deferred compensation” within the meaning
of Section 409A upon or following a termination of the Executive’s employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this
Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service” and the date of such separation from service shall be the termination date for purposes of any
such payment or benefits. 
 d. This Agreement is intended to comply with Section 409A and any ambiguities
should be interpreted in such a way as to comply with Section 409A. 

  
 14 

 If you agree with this letter, kindly sign and return the enclosed copy of this letter which will then
constitute our agreement on the subject matter hereof. 
  

			
	Sincerely,
	
	GRAFTECH INTERNATIONAL LTD.
		
	By:	 	 
		
	Title:	 	 
	
	GRAFTECH INTERNATIONAL HOLDINGS INC.
		
	By:	 	 
		
	Title:	 	 

  

	
	Agreed to as of the date first above written
	
	  
	Employee

  
 15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}]]