Document:

hayn_Ex_101

		

			Exhibit 10.1

		

		
			INTERIM EXECUTIVE EMPLOYMENT AGREEMENT
		

		
			THIS EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of June 1, 2018 (the "Effective Date"), by and between HAYNES INTERNATIONAL, INC., a Delaware corporation (the "Company"), and MICHAEL L. SHOR ("Executive").
		

		
			In consideration of the mutual covenants and understandings hereinafter set forth, the parties agree as follows:
		

			
	
			
				 1.
			Employment.  Executive shall render his services as Interim President and Chief Executive Officer at the direction of the Company's Board of Directors at the offices of the Company in Kokomo, Indiana or at such other location or locations as may be mutually agreed upon by and between the Company and the Executive from time to time.  Executive agrees to devote his full business time and attention to the rendering of his services hereunder and to use his best efforts to promote and further the business, reputation and good name of the Company.  Executive also agrees to fully and faithfully comply with all lawful instructions, directions, requests, rules, regulations, policies and principles made or issued from time to time by the Company.  It is mutually understood that unless otherwise agreed by the parties, Executive's employment as President and Chief Executive Officer is on an interim basis, and that during the Term of this Agreement the Company will be conducting a search for the President and Chief Executive Officer position, and Executive shall provide substantive assistance in that process.

			
	
			
				 2.
			Term and Termination.  This Agreement will automatically terminate upon the election by the Company's Board of Directors of a successor to the position of President and Chief Executive Officer, if not earlier terminated pursuant to the terms of this Agreement.  This Agreement may be extended by the mutual agreement of the parties.  This Agreement will automatically terminate in the event of Executive's death or Disability (as defined in the Company's 2016 Equity Incentive Plan (the "Plan")).  The parties acknowledge and agree that Executive shall be employed by the Company on an "at-will" basis.  The parties understand and agree that Executive may be removed as an officer and terminated from employment by the Board of Directors or may resign from employment, in either case with or without cause.  Executive agrees to provide at least 30 days' written notice of his intention to resign before such resignation will becomes effective.  Termination of this Agreement shall constitute termination of employment and termination of employment shall constitute termination of this Agreement.  References in this Agreement to either termination of the Agreement or termination of employment shall encompass both.

			
	
			
				 3.
			Compensation and Benefits.  As full and complete compensation for Executive's services, the Company shall pay Executive the compensation and provide the benefits described in this Section.

			
	
			
				 a.
			Base Salary.  The Company shall pay Executive a base salary during the period of employment pursuant to this Agreement at an annual rate of $400,000 ("Base Salary").  The Board of Directors may review Executive's Base Salary from time to time and shall have the right, in their sole discretion, to increase such Base Salary.  The term "Base Salary" shall refer to the Base Salary as it may be increased by the Board of Directors

		
			

		 

 

		

			
	
			
				 b.
			Bonus.  Executive shall be eligible to participate in the Company's 2018 Management Incentive Plan ("MIP") subject to the terms and conditions thereof with a target bonus of $250,000 to be earned based on the achievement of the performance objectives previously determined by the Compensation Committee for the Company's 2018 fiscal year; provided that the amount of such bonus paid to Executive shall be pro-rated based on the number of months Executive serves as interim President and Chief Executive Officer; and provided, further, that Executive shall not be eligible for any bonus amount in excess of the pro-rated target bonus, regardless of the performance of the Company or the achievement of the performance metrics under the MIP at a level greater than target.  The bonus, if any, shall be paid in a single sum payment at the same time as the Company pays bonuses under the MIP.

			
	
			
				 c.
			Equity Awards.  As of the Effective Date, the Company shall grant the Executive 5,000 shares of restricted stock and a non-qualified stock option to acquire 15,000 shares of the Company’s Common Stock (the "Equity Awards").  The Equity Awards shall be granted pursuant to the Plan.  The shares of restricted stock shall vest on the earliest of (i) the first anniversary of the Effective Date, (ii) the date Executive's successor as President and Chief Executive Officer is appointed by the Company's Board of Directors and (iii) the date of Executive's death or Disability (as defined in the Plan) (such earliest date, the "Vesting Date").  The stock option shall vest and become exercisable on the Vesting Date.  Each Equity Award shall have the additional terms set forth in the award agreement relating to the same.

		
			d.Reimbursement of Expenses.  The Company agrees to reimburse Executive for reasonable business-related expenses incurred in the performance of Executive's duties under this Agreement, in accordance with Company policies and procedures.  Until such time, if ever, that Executive relocates to Kokomo, Indiana, the Company shall reimburse Executive for reasonable travel-related expenses incurred by Executive in commuting to and from Kokomo, Indiana and for expenses incurred by Executive for housing while in Kokomo, Indiana.
		

		
			e.Benefit Plans and Programs.  To the extent permitted by applicable law and consistent with the applicable plan documents (which shall, in all cases, govern), Executive (and where applicable, his plan-eligible dependents) will be eligible to participate in such benefit plans and programs, insurance arrangements, 401(k) retirement plans, disability, health, and dental plans or arrangements, including any modifications of same, maintained by the Company for the benefit of its employed executives (or for an executive population which includes its employed executives), subject to the eligibility requirements and other terms and conditions of those plans and programs.
		

		
			f.No Other Compensation.  Executive agrees and understands that he is not entitled to any additional or other compensation or benefits of any kind, except as specifically provided for in this Agreement.
		

		
			g.Withholding.  The Company shall have the right to, and this Agreement shall operate as written consent to, deduct and withhold from the compensation payable to Executive any amounts required or authorized to be deducted and withheld under: (i) the 

		 

		

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provisions of any statute, regulation, ordinance, order or any amendment thereto, heretofore or hereafter enacted; or (ii) pursuant to any benefit plan, requiring or authorizing the withholding or deduction from compensation.
		

			
	
			
				 4.
			

			
	
			
			Non-Disclosure and Assignment of Intellectual Property.

			
	
			
				 a.
			Proprietary Information.  Executive understands that the Company possesses and will possess Proprietary Information which is important to its business.  For purposes of this Agreement, "Proprietary Information" is information (whether conveyed orally or in writing) that has been or will be developed, created, or discovered by or on behalf of the Company, or which became or will become known by, or was or is conveyed to the Company, which has commercial value in the Company's Business.  Executive understands that his employment creates a relationship of confidence and trust between Executive and the Company with respect to Proprietary Information.  At all times, both during his employment with the Company and after its termination, Executive will keep in confidence and trust and will not use or disclose any Proprietary Information or anything relating to it without the prior written consent of the Company’s Board of Directors, except as may be necessary and appropriate in the ordinary course of performing his duties to the Company.

			
	
			
				 b.
			Company Trade Secret Information.  Executive hereby understands and agrees that Executive will, at all times, conform his conduct to the requirements of the Indiana Trade Secrets Act, I.C. 24-2-3-1, et seq.  Executive will not misappropriate (e.g., use or disclose to any third party) any trade secret of the Company.  Executive recognizes that the penalties for a trade secret violation include disgorgement of profits, payment of royalties, compensatory damages, punitive damages, and attorneys' fees.  Executive understands that upon termination of employment with the Company for any reason, Executive will continue to be prohibited at any time thereafter from misappropriating any trade secret of the Company.

			
	
			
				 c.
			Company Materials.  Executive understands that the Company possesses or will possess "Company Materials" which are important to its business.  For purposes of this Agreement, "Company Materials" are documents or other media or tangible items that contain or embody Proprietary Information or any other information concerning the business, operations or plans of the Company, or its subsidiaries or affiliates, whether such documents have been prepared by Executive or by others.  All Company Materials shall be the sole property of the Company.  Executive agrees that during his employment with the Company, he will not remove any Company Materials from the business premises of the Company or deliver any Company Materials to any person or entity outside the Company, except as Executive is required to do in connection with performing the duties of his employment.  Executive further agrees that, immediately upon the termination of his employment for any reason, or during his employment if so requested by the Company, he will return all Company Materials, apparatus, equipment and other physical property, or any reproduction of such property, excepting only (i) his personal copies of records relating to his compensation; and (ii) his copy of this Agreement.

		
			

		 

		

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				 d.
			Intellectual Property.  Executive agrees and understands that all Proprietary Information and all right, title and interest in and to patents, patent rights, copyright rights, mask work rights, trade secret rights, and other intellectual property and proprietary rights anywhere in the world (collectively, "Rights") in connection therewith shall be the sole property of the Company.  Executive hereby assigns to the Company any Rights he may have or may hereafter acquire in such Proprietary Information.  Executive agrees that all Inventions which he makes, conceives, reduces to practice or develops (in whole or in part, either alone or jointly with others) during his employment shall be the sole property of the Company to the maximum extent permitted by law and Executive hereby assigns such Inventions and all Rights therein to the Company, and acknowledges the same as constituting "work for hire."  The Company shall be the sole owner of all Rights in connection therewith.

		
			Executive agrees to perform, during and after his employment, all acts deemed necessary or desirable by the Company to permit and assist it, in evidencing, perfecting, obtaining, maintaining, defending and enforcing Rights and/or his assignment with respect to such Inventions in any and all countries as long as all such acts are truthful, and are done solely at the Company's expense.  Such acts may include, without limitation, execution of documents and assistance or cooperation in legal proceedings.  If such acts are requested after employment, Executive shall be entitled to reasonable compensation for his time and expenses as determined and approved in advance by the Company.  Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents, as his agents and attorneys-in-fact, with full power of substitution, to act for and on Executive's behalf to execute and file any documents and to do all other lawfully permitted acts to further the above purposes with the same legal force and effect as if executed by Executive.
		

		
			Any assignment of copyright hereunder includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as or referred to as "moral rights" (collectively, "Moral Rights").  To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed by the laws in the various countries where Moral Rights exist, Executive hereby waives such Moral Rights and consents to any action of the Company that would violate such Moral Rights in the absence of such consent.  Executive will confirm any such waivers and consents from time to time as requested by the Company.
		

			
	
			
				 5.
			

			
	
			
			Non-Solicitation.

			
	
			
				 a.
			Agreement Not to Solicit Customers.  Executive shall not, during the Restricted Period, directly or indirectly, contact, solicit or communicate with Company Customers for the purpose of: (i) diverting or influencing or attempting to divert any business of the Company to any Competitor; (ii) providing Competitive Products; or (iii) otherwise interfering in any fashion with the business or operations being conducted by the Company as of the Executive's employment termination date.  Additionally, Executive shall not, during the Restricted Period, directly or indirectly sell or distribute Competitive Products to or accept business for Competitive Products from any Company Customers.  The restrictions set forth in this Section 5.a. narrowly and reasonably apply only to (1)  

		 

		

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	those Customers to which the Company has provided any services or sold any products at any time in the twelve (12) month period immediately preceding the termination of the Executive's employment with the Company; (2) those Customers with whom the Executive had any direct contact or indirect (through supervisory duties) contact relating to the provision of services or products provided or sold by the Company, at any time in the twelve (12) month period immediately preceding the termination of Executive's employment with the Company; and/or (3) those Customers about which Executive had access to any Confidential Information at any time in the twelve (12) month period immediately preceding the termination of Executive's employment with the Company.

			
	
			
				 b.
			Anti-Raiding Agreement.   During the Restricted Period, the Executive shall not, directly or indirectly hire, employ or engage any employee or independent contractor of the Company, or solicit, seek to solicit, induce, bring about, influence, promote, facilitate, or encourage any such employee or independent contractor of the Company to leave the Company to join a Competitor.

			
	
			
				 c.
			Extension of Restricted Period for Breach.  In the event of a breach of this Agreement by Executive, the Restricted Period shall be extended automatically by the period of the breach.

			
	
			
				 d.
			Definitions.  As used in this Agreement, the following capitalized terms have the meanings indicated below.

		
			i."Company Products" means (1) products consisting of high-performance nickel-based and cobalt-based alloys for use in high-temperature and corrosion applications; (2) seamless titanium tubing for use in aerospace applications; (3) high-performance alloy wire and welding consumables; and (4) other alloy products offered by the Company to its Customers at the time of the termination of Executive's employment with the Company.
		

		
			iii."Competitive Products" means (1) products consisting of high-performance nickel-based and cobalt-based alloys for use in high-temperature and corrosion applications; (2) such other alloy products offered by Company to its Customers regarding which products Executive was performing any executive, managerial, supervisory and/or financial services for or on behalf of the Company, at the time of the termination of Executive's employment with the Company; and (3) any other alloy products which are the same or substantially similar to Company Products, are competitive with Company Products and are in the same categories as the Company Products.  
		

		
			iv."Competitor" means any individual or entity engaged in the business (in whole or in part) of developing, manufacturing, distribution or sale of high-performance alloys which shall be included in Company's Business, in any such case that are the same or substantially similar as those offered by the Company to its Customers as of the date on which Executive's employment with the Company terminates.
		

		
			

		 

		

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			v."Customer" means any and all persons and entities to whom the Company sold or distributed any products or services, or to whom its products were distributed or sold at any time during the twelve (12) months prior to at the time of the termination of Executive's employment with the Company. 
		

		
			vi."Restricted Period" means the period of time during the term of Executive's employment with the Company and for a period of twelve (12) months immediately following the termination of his employment, regardless of the reason the employment relationship terminates.  
		

			
	
			
				 e.
			Modification of Restrictions by Court.  If a court of competent jurisdiction determines that any of the foregoing restrictions are too broad or otherwise unreasonable under applicable law, including with respect to the Restricted Period,  any of the definitions used in Section 5.d. of this Agreement, and/or the scope of any restricted activity, the court is hereby requested and authorized by the parties hereto to revise the foregoing restrictions to include the maximum restrictions allowed under the applicable law, including application of so-called "blue pencil" revisions.  This Agreement shall remain in full force and effect following the termination of the Executive's employment.

			
	
			
				 f.
			Enforcement.  The Executive expressly agrees that breach of the restrictions of this Agreement would result in irreparable injuries to the Company, and that the Company's remedies at law for any breach or threat of breach by him of the provisions of this Agreement will be inadequate, and that the Company shall be entitled to seek an injunction or injunctions (including temporary restraining orders,  preliminary and/or permanent injunctions, as the case may be) to prevent breaches of this Agreement and to enforce specifically the terms and provisions thereof, in addition to any other remedy to which the Company may be entitled at law or equity.  Company shall also be entitled to recover from Executive all costs, expenses and reasonable attorneys' fees incurred by the Company in seeking enforcement of this Agreement and in collecting damages (if any) for the breach by Executive of this Agreement.  The Company's remedies are cumulative, and the Company shall also be entitled to seek any other relief and remedies available to it under applicable law.  Any claim or cause of action by Executive against the Company shall not constitute a defense to the enforcement of the restrictions and covenants set forth in this Agreement and shall not be used to prohibit the Company from seeking or receiving injunctive relief.  Executive shall also provide a copy of this Agreement, or a complete summary of the restriction of this Agreement, to any person or entity that employs or attempts to employ Executive during the Restricted Period.

			
	
			
				 g.
			Reasonable Restrictions.  Executive acknowledges that the restrictions specified herein are reasonable in view of the nature of the business in which Company is engaged, Executive's level of compensation and position of trust and confidence, and Executive's knowledge of the Company's business and operations.  Executive hereby agrees that regardless of the actual date employment commences, this covenant is supported by consideration consisting of continued employment.

			
	
			
				 h.
			No Conflict with Obligation to Third Parties.  Executive represents that his performance of all the terms of this Agreement will not breach any non-competition 

		 

		

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	agreement or other agreement requiring him to keep in confidence proprietary information acquired by Executive in confidence or in trust prior to his employment with the Company.  Executive has not entered into, and will not enter into, any agreement either written or oral in conflict herewith or in conflict with his employment with the Company.

			
	
			
				 6.
			Non-Disparagement.  Executive agrees that at no time after the termination of his employment (for any reason, including resignation) will Executive engage in any conduct or make any statement of a disparaging, derogatory or defamatory nature regarding the Company, its employees, customers, vendors, or Board of Directors.  The Company agrees that at no time after the termination of Executive's employment (for any reason, including his resignation) will Company make any statement of a disparaging, derogatory or defamatory nature regarding the Executive.  The foregoing obligations of the parties under this Section 6 shall not apply to any true statement necessarily made to enforce any legal or contractual right or obligation of one party as against the other, or to defend any claim made against one party by the other that a legal or contractual obligation has been breached.

			
	
			
				 7.
			Continuing Cooperation.  Executive agrees that, for a period of thirty (30) calendar days following the termination of his employment for any reason, he will respond in a timely and effective manner to questions or requests for assistance received from the Company with regard to any matters within his knowledge or areas of responsibility during his employment with the Company.  Executive further agrees that, as to any matters currently pending, or which arise relating to his employment with the Company, he will cooperate with the Company and its attorneys in connection with any proceeding involving the Company before a court, an administrative agency, governmental organization, or an arbitrator.

			
	
			
				 8.
			Notices.  All notices and other communications required or permitted hereunder shall be in writing (which may include facsimile and email) and shall be deemed to have been duly given when delivered (if by hand delivery, facsimile or email) or when mailed, certified or registered mail, return receipt requested and postage prepaid:  if to the Company, at the address set forth for the Company on the signature page hereof and, if to Executive, at such address as shall be used by the Company for payroll records purposes as on file with the Company, or at such other address as may be expressly specified by the Company or Executive to be used for purposes of this Agreement by way of notice provided in accordance with this Section 8. 

			
	
			
				 9.
			Applicable Law.   This Agreement is made pursuant to and shall be governed exclusively by and construed exclusively in accordance with the laws of Indiana, notwithstanding the choice of law provisions of the venue where the action is brought, where the violation occurred, or where Executive may be located.  Any action to enforce, challenge or construe the terms or making of this Agreement to recover for its breach shall be litigated exclusively in a state or federal court located in Indianapolis, Indiana, except that Company may elect, at its sole discretion, to litigate the action in the county or state where any breach by Executive occurred or where Executive can be found.  Executive acknowledges and agrees that this jurisdiction, venue and governing law provision is an essential provision of this Agreement and Executive hereby waives any defense of lack of personal jurisdiction, improper venue or forum non conveniens.

			
	
			
				 10.
			Entire Agreement; Modification; Consents and Waivers.   This Agreement contains the entire agreement of the parties with respect to the subject matter hereof and supersedes 

		 

		

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	any and all prior agreements or understandings, written or oral, between the parties with respect to the subject matter hereof.  Except as set forth herein or as modified by a court of competent jurisdiction pursuant to the blue pencil doctrine or otherwise, no other interpretation, change, termination or waiver of or extension of time for performance under any provision of this Agreement shall be binding upon any party unless in writing and signed by the party intended to be bound thereby.  Except as otherwise provided in this Agreement, no waiver of or other failure to exercise any right under or default or extension of time for performance under any provision of this Agreement shall affect the right of any party to exercise any subsequent right under or otherwise enforce said provision or any other provision hereof or to exercise any right or remedy in the event of any other default, whether or not similar.

			
	
			
				 11.
			Severability.  If any one or more of the provisions contained in this Agreement shall for any reason, whether by application of existing law or law which may develop after the date of this Agreement, be determined by a court of competent jurisdiction to be invalid, void or unenforceable, the parties hereby jointly agree that the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

			
	
			
				 12.
			Assignment; Counterparts.  Executive may not assign this Agreement or any of his rights hereunder without the prior written consent of the Company.  The Company's rights and obligations under this Agreement shall be assigned by the Company to any successor entity, including as incident to the sale, transfer, by merger or otherwise, of all or substantially all of the business or assets of the Company.  In the event of any such assignment by the Company, all rights and obligations of the Company hereunder shall inure to the benefit of the assignee.  This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

			
	
			
				 13.
			Survival.  The provisions of Sections 4 through 16 of this Agreement shall survive any expiration or termination of this Agreement and the termination of Executive's employment.

			
	
			
				 14.
			Construction of Agreement.  The parties hereby confirm and agree that in interpreting this Agreement, the language should not be strictly construed against either party.  Instead, the language of the Agreement should be interpreted consistent with the ordinary and reasonable meaning of the words used.

		
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			EXECUTIVE HAS READ THIS AGREEMENT, UNDERSTANDS IT, AND VOLUNTARILY AGREES TO BE BOUND BY ITS TERMS.  EXECUTIVE HAS HAD ADEQUATE OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL OR OTHER ADVISORS BEFORE SIGNING THIS AGREEMENT.  EXECUTIVE SHOULD READ AND INITIAL EVERY PAGE OF THIS AGREEMENT.
		

		
			IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement as of the date first above written.
		

		
			HAYNES INTERNATIONAL, INC.
		

			
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Janice W. Gunst

				
	
					
						 

					
					
						Janice W. Gunst

				
	
					
						 

					
					
						Vice President-General Counsel & Corporate Secretary

				
	
					
						 

					
					
						 

				

		
			 
		

		
			Address for notices:
		

		
			Haynes International, Inc.
		

		
			1020 West Park Avenue
		

		
			Kokomo, IN 46904
		

		
			Attn:  General Counsel
		

		
			Fax:  (765) 456-6985
		

		
			Email:  jgunst@haynesintl.com
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Michael L. Shor

				
	
					
						 

					
					
						Michael L. Shorhayn_Ex_102

		

			Exhibit 10.2

		

		
			RESIGNATION AND GENERAL RELEASE AGREEMENT 
		

		
			This Resignation and General Release Agreement (“Agreement” ) is made and entered into by and between Mark M. Comerford (“Executive”) and Haynes International, Inc., a Delaware corporation (the “Company”).
		

		
			WHEREAS, Executive has been employed with the Company pursuant to an Employment Agreement dated September 8, 2008, as amended (“Employment Agreement”);
		

		
			WHEREAS, Executive has advised the Board of Directors of the Company of his intention to resign from his positions as an officer and director of the Company and each of its subsidiaries at which he holds any such position;
		

		
			WHEREAS, the Employment Agreement does not provide for the payment of severance benefits by the Company to the Executive in the event of his resignation; and
		

		
			WHEREAS, in recognition of Executive’s years of dedicated service to the Company and in exchange for a release by Executive of all claims that he may have against the Company and its directors, officers, employees, shareholders and other persons and entities and his confirmation that he is bound by the restrictive covenants set forth in the Employment Agreement, the Company has agreed to provide Executive with certain severance benefits as set forth herein;
		

		
			NOW, THEREFORE, in exchange for the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which the parties hereby acknowledge, the parties agree as follows:
		

			
	
			
				 Section 1.
			Resignation and Retirement.  Executive resigns from all positions he currently holds as an officer or director of the Company or any of its subsidiaries, including without limitation his positions as President and Chief Executive Officer and a member of the Board of Directors of the Company, effective as of May 29, 2018 (the “Resignation Date”).  Executive will remain an employee of the Company until his retirement on September 30, 2018 (the “Separation Date”).  Between the Resignation Date and the Separation Date, Executive shall serve as an advisor to the Chief Executive Officer of the Company and shall have such duties and devote such time and attention to the affairs of the Company as determined by the Chief Executive Officer of the Company.  Between the Resignation Date and the Separation Date, Executive shall be entitled to receive his base salary at the same rate as in effect on the Resignation Date and will continue to participate in the employee health and welfare benefit plans offered by the Company to its employees, subject to the terms and conditions of such plans.  By remaining employed until September 30, 2018, Executive and his spouse will be eligible to participate in the Haynes International, Inc. Medical Plan for Retirees, subject to the terms and conditions of such plan. After the Resignation Date, Executive shall not participate in the Company’s Management Incentive Plan or any other incentive compensation plan offered by the Company and shall not be entitled to any compensation other than the Annual Salary provided for in this Section 1 with respect to his service as an employee from the Resignation Date through the Separation Date.

		
			

		 

 

		

			
	
			
				 Section 2.
			Severance Benefits.  

			
	
			
				 (a)
			On the first regular Company payroll date following the Separation Date, the Company shall pay to Executive in accordance with the Company’s existing payroll practices that portion of Executive’s current Annual Salary (as defined in the Employment Agreement) which has been earned but not paid as of the Separation Date and shall reimburse Executive for any reimbursable business expenses incurred by Executive with the prior approval of the Chief Executive Officer of the Company through the Separation Date, but not theretofore reimbursed.

			
	
			
				 (b)
			The parties anticipate that Executive will have an additional period of employment with the Company after the Resignation Date of this Agreement and Executive wishes to provide a full release to the Company for all claims and actions through the Resignation Date.  Accordingly, Executive understands and agrees that he will receive the below-described Severance Benefits only if: (x) his employment is not terminated for Cause (as defined in the Employment Agreement Section 1(e)(ii) sub-paragraphs (ii), (iv) or (v)) prior to the Separation Date; (y) he signs and returns to the Company the Reaffirmation of Resignation, Retirement and Release Agreement (the “Reaffirmation”), attached hereto and incorporated herein as Exhibit B; and (z) he does not exercise the revocation right described in the Reaffirmation.  Provided, however, that if Executive dies or suffers a Disability (as defined in the Employment Agreement) which would prevent his execution of the Reaffirmation between the period of his Resignation Date and Separation Date, the Reaffirmation may be executed by his authorized Power of Attorney (in the case of a Disability) or the authorized personal representative of his estate.  If Executive meets the foregoing conditions to payment of the Severance Benefits, the Company shall pay or provide to Executive the following payments and benefits (collectively, the “Severance Benefits”):

			
	
			
				 (i)
			Cash payment of $417,825.00 in respect of Executive’s Target Bonus (as defined in the Employment Agreement) for fiscal 2018 to be paid in accordance with the Company’s existing payroll practices on the first regular Company payroll date following the date the Reaffirmation becomes effective (such effective date, the “Reaffirmation Effective Date”);

			
	
			
				 (ii)
			Cash payment of $961,730.00, representing eight months of Executive’s current Annual Salary plus his Target Bonus, to be paid by the Company in 20 equal monthly installments commencing in October 2018 following the Reaffirmation Effective Date and ending in May 2020, with each installment to be paid in accordance with the Company’s existing payroll practices on a regular Company payroll date on or prior to the last day of the applicable month, which payments shall be subject to, contingent upon, and compensation for Executive’s compliance with the provisions of the non-competition and non-solicitation provisions as set forth in the Employment Agreement, which provisions are incorporated by reference herein and made a part hereof as if such provisions were set forth herein;

		
			

		 

		

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				 (iii)
			Executive shall be entitled to exercise the 114,433 stock options held by Executive that are vested and exercisable on the Resignation Date and set forth on Exhibit A until the earlier of November 30, 2018 or the expiration date of such stock options; all stock options that are not vested by their terms as of the Resignation Date shall be forfeited effective immediately following the resignation of Executive’s positions as an officer and director of the Company on the Resignation Date;

			
	
			
				 (iv)
			The Company agrees to accelerate the vesting of a pro rata portion (based on service by the Executive from the grant date through the Resignation Date) of the time-based restricted shares granted to Executive (A) in November 2015 under the Company’s 2009 Restricted Stock Plan and (B) in November 2016 under the Company’s 2016 Incentive Compensation Plan, in each case that are held by Executive on the Resignation Date as set forth on Exhibit A (collectively, the “Accelerated Time-Based Shares”) from the vesting dates set forth in the applicable award agreements to the Reaffirmation Effective Date; provided, that, (x) all time-based restricted shares granted to Executive in November 2015 and November 2016 that are not Accelerated Time-Based Shares and (y) all time-based restricted shares granted to Executive in November 2017 shall be forfeited by Executive effective immediately following the resignation of Executive’s positions as an officer and director of the Company on the Resignation Date; and

			
	
			
				 (v)
			The Company agrees to permit Executive to retain his existing interest in a pro rata portion (based on service by the Executive from the grant date through the Resignation Date) of (A) the performance-based restricted stock granted to Executive in November 2015 under the Company’s 2009 Restricted Stock Plan and (B) the performance shares granted to Executive in November 2016 under the Company’s 2016 Incentive Compensation Plan, in each case that are held by Executive on the Resignation Date as set forth on Exhibit A (collectively, the “Retained Performance-Based Shares”); provided, that, (x) all shares of performance-based restricted stock granted to Executive in November 2015 that are not Retained Performance-Based Shares, (y) all performance shares granted to Executive in November 2016 that are not Retained Performance-Based Shares and (z) all performance shares granted to Executive in November 2017 shall be forfeited by Executive effective immediately following the resignation of Executive’s positions as an officer and director of the Company on the Resignation Date; the Retained Performance-Based Shares shall remain subject to the conditions and restrictions, including the achievement of performance targets, set forth in the respective awards and shall vest and be delivered to Executive, if at all, at the same time, under the same terms and subject to the same limitations and conditions set forth in the applicable plan and award agreement that would have obtained if Executive were still employed on the date the Performance Awards are paid or distributed.

		
			For the avoidance of doubt, all stock options, restricted stock and other equity awards held by Executive but not vested by their terms as of the Resignation Date that are not described in this Section 2 shall be forfeited effective immediately following the 

		 

		

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resignation of Executive’s positions as an officer and director of the Company on the Resignation Date.
		

			
	
			
				 Section 3.
			Timing of Payment and Release.  

			
	
			
				 (a)
			As a condition of receiving from the Company the payments and benefits provided for in Section 2(b) of this Agreement, which Executive otherwise would not be entitled to receive, Executive must execute (and not revoke) this Agreement.  Executive acknowledges that he has been advised in writing to consult with an attorney prior to executing this Agreement.  All payments made to Executive hereunder shall be subject to appropriate payroll deductions and other withholdings required by law.  In the event of Executive’s death or Disability (as defined in the Employment Agreement), any payment to be made as part of the Severance Benefits that remains unpaid as of the date of death or Disability shall be paid to Executive’s estate or spouse, as the case may be, at the same times and subject to the same terms and conditions as otherwise provided herein.

			
	
			
				 (b)
			This Agreement shall be construed to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Code Section 409A”) or an exemption from the application of Code Section 409A.  Notwithstanding anything set forth in this Agreement, no amount payable pursuant to or as provided in this Agreement which constitutes a “deferral of compensation” within the meaning of Code Section 409A shall be paid unless and until Executive has incurred a “separation from service” within the meaning of Code Section 409A.  Any payments under this Agreement that may be excluded from Code Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Code Section 409A to the maximum extent possible. For purposes of Code Section 409A, to the extent the payment is determined to constitute “nonqualified deferred compensation” within the meaning of Code Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment.  Further, to the extent Executive is a “specified employee” within the meaning of Code Section 409A as of the date of Executive’s separation from service, no amount which constitutes nonqualified deferred compensation which is payable on account of Executive’s separation from service shall be paid to Executive before the date which is the first day of the seventh month after the date of Executive’s separation from service or, if earlier, the date of Executive’s death following such separation from service. The aggregate of any payments that would otherwise have been paid before such date shall be paid to the Participant in a lump sum on such date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule. 

			
	
			
				 (c)
			In consideration of the Company’s agreement to the payment of the Severance Benefits set forth in Section 2 above and the other good and valuable consideration indicated herein, Executive (for himself and his personal representatives, heirs and assigns) RELEASES AND FOREVER DISCHARGES the Released Parties (as defined below) from any and all claims (including, but not limited to, claims for attorneys’ fees), demands, losses, grievances, damages, injuries (whether personal, emotional or other), agreements, actions, promises or causes of action (known or unknown) which he now has or may later discover or which may hereafter exist against the Released Parties, in connection with or arising directly or indirectly out of or in any way related to any and all 

		 

		

			4

		

 

	matters, transactions, events or other things occurring prior to the date hereof, including all those arising out of or in connection with his employment or former employment with the Company, or arising out of any events, facts or circumstances which either preceded or flowed from the termination of his employment, or which occurred during the course of Executive’s employment with the Company or incidental thereto or arising out of any other matter or claim of any kind whatsoever and whether pursuant to common law, statute, ordinance, regulation or otherwise.  Claims or actions released herein include, but are not limited to, those based on allegations of wrongful discharge, failure to represent, fraud, defamation, promissory estoppel, and/or breach of contract; those alleging discrimination on the basis of race, color, sex, religion, national origin, age, disability or handicap under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967 (“ADEA”), the Rehabilitation Act of 1973, the Equal Pay Act of 1963, the Americans with Disabilities Act of 1990, the Civil Rights Act of 1991, the Family and Medical Leave Act of 1993, the Fair Labor Standards Act (all as amended) or any other federal, state or local law, ordinance, rule or regulation; and those arising under the Executive Retirement Income Security Act of 1974, all as amended (except for qualified retirement or other benefit plans from which Executive is entitled under the terms of such plans to receive future benefits).  Executive agrees and understands that any claims he may have under the aforementioned statutes or any other federal, state or local law, ordinance, rule, regulation or common law are effectively waived by this Agreement.  No claims under the ADEA arising after the execution of this Agreement are waived hereby.

			
	
			
				 (d)
			The parties understand and agree that, as used in this Agreement, “Released Parties” means Haynes International, Inc. and its subsidiaries and all of their respective past and present officers, directors, shareholders, employees, trustees, agents, parent companies, subsidiaries, partners, members, affiliates, principals, insurers, any and all employee benefit plans (and any fiduciary of such plans) sponsored by the aforesaid entities, and each of them, and each entity’s predecessors, successors, and assigns, and all other entities, persons, firms, or corporations liable or who might be claimed to be liable, none of whom admit any liability to Executive, but all of whom expressly deny any such liability.  

			
	
			
				 (e)
			Except as specifically provided in Section 2 and this Section 3 or required under applicable law, Executive will not be eligible to receive any salary, bonus or other compensation or benefits with respect to any periods after the Separation Date; provided, however, Executive shall have the right to receive all compensation and benefits to which he is entitled under any benefit plans of the Company to the extent he is fully vested as of the Resignation Date pursuant to the terms and conditions of such employee benefit plans.

			
	
			
				 Section 4.
			Covenant Not to Sue.  

			
	
			
				 (a)
			Executive understands that by signing this Agreement, Executive is agreeing that Executive has not and will not file any claims or lawsuits against the Released Parties with any court or government agency with the exception that this Agreement will not release (i) any non-waivable rights Executive has, including any claims that arise after the Resignation Date or the Reaffirmation Effective Date, as applicable; (ii) actions, or rights arising under or to enforce the terms of this Agreement; and/or (iii) vested benefits under any retirement or pension plan and/or deferred compensation plan.  Further, if 

		 

		

			5

		

 

	Executive is requested to participate in any lawsuit, other proceeding, or investigation against any of the Released Parties, Executive agrees to immediately notify the Company.  The Parties specifically agree that, to the extent Executive may have any non-waivable rights to file or participate in a claim, lawsuit, or charge against any of the Released Parties, such as with the Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), the Department of Labor (DOL), the Occupational Safety and Health Administration (OSHA), or other government agency, Executive is not giving up such right nor is Executive giving up Executive’ s right to participate truthfully in any EEOC, NLRB, DOL, OSHA, or other government agency investigation.  However, even if Executive has a right to file or participate in a claim, lawsuit, or charge against any of the Released Parties, Executive agrees that, except for non-waivable claims, Executive shall not obtain, and hereby waives Executive’ s right to, any relief of any kind from such a claim or charge.

			
	
			
				 (b)
			As to any actions or claims that would not be released because of the invalidity or unenforceability of this Agreement, Executive understands and agrees that, except as prohibited by law, if he asserts or brings any such actions or claims against the Company, he must repay to the Company the Severance Benefits provided to him pursuant to this Agreement, with legal interest.  Executive and the Company agree that by executing this Agreement, Executive has waived any claim (administrative or otherwise) he may have under, among other things, the ADEA.  If Executive files a charge alleging a violation of the ADEA with any administrative agency or challenges the validity of this waiver and release of any claim he might have had under the ADEA, he will be required to repay to the Company the Severance Benefits provided by it pursuant to this Agreement, or pay to the Company any other monetary amounts (such as attorneys’ fees and/or damages), as a condition precedent to filing such a claim, only if and to the extent the recovery of any such amounts by the Company is otherwise authorized by law.  This Agreement is not to be interpreted by either party or by any third party as an effort to interfere with the protected right to file a charge or participate in an investigation or proceeding under the ADEA.

			
	
			
				 Section 5.
			Acknowledgment of No Wages or Payments Owed.  Executive and the Company agree that the Company has paid or will pay Executive all salary, benefits and compensation of any nature (including any and all accrued but unused vacation time), due and owing in accordance with the payroll schedule in existence at the time of this Agreement.  No additional salary, benefits, or compensation of any nature is payable unless specifically provided for herein.

			
	
			
				 Section 6.
			Non-disparagement. In consideration of receipt of the Severance Benefits and the promises made by the Company in this Agreement, Executive agrees not to make any false, negative or disparaging remarks or comments to any person and/or entity about the Company; make any statement that may subject the Company to potential embarrassment, humiliation or any other negative consequence; or make any public statement, including but not limited to, any statement to the media or to any Company employee, regarding the separation of his employment with the Company, except as specifically approved by the Board of Directors.  For its part, the Company’s agrees that its current directors, officers, and senior leadership team (those holding the title of “Vice President”) will not make any false or disparaging remarks or comments to any person and/or entity about Executive, including, but not limited to, not making any statement to 

		 

		

			6

		

 

	the media, internal Company communication, formal or informal, and externally in print or electronic media, except as agreed in, or consistent with, the press release referenced below.  The Company and Executive acknowledge and agree that nothing in this Section 6 shall be construed to prohibit any truthful statements made in response to any legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings).  The Company and Executive shall mutually agree upon the form of a press release announcing Executive's resignation.

			
	
			
				 Section 7.
			Continued Cooperation.  Executive agrees that, during the period in which Executive is receiving any of the Severance Benefits set forth in Section 2, Executive shall respond, within a reasonable amount of time, to inquiries that the Company may have from time to time so long as such continued cooperation does not pose a conflict of interest with regard to any work or services performed by Executive for third parties that is not in violation of this Agreement or the terms of the Employment Agreement incorporated herein.

			
	
			
				 Section 8.
			Return of Property; Termination of Perquisites.  Executive hereby certifies that, on or prior to the date hereof, he has returned to the Company, all of the Company’s property in Executive’s possession or control, including, but not limited to, any cell phone, computer, equipment, keys, access cards or fobs, passwords, portable computer drives and documents (electronic or hard copy).  On or after the Resignation Date, the Company shall remove all Company information from Executive’s cell phone, laptop and iPad and thereafter shall return the cell phone, laptop and iPad to Executive and shall transfer to Executive the telephone number associated with his cell phone.  All perquisites provided by the Company to Executive shall terminate and no longer be provided or paid for by the Company as of the Resignation Date.

			
	
			
				 Section 9.
			Confidentiality, Restrictive Covenants and Assignment of Inventions.  Executive acknowledges and agrees that his covenants and obligations and the rights and remedies of the Company regarding confidentiality, restrictive covenants and the assignment of inventions in Sections 2, 3, 4, 5(a), 5(b), 5(c) and 5(i) of the Employment Agreement continue in full force and effect and such obligations are incorporated herein by reference as if fully set forth; provided that the Restricted Period (as defined in Section 3(c)(v) of the Employment Agreement) with respect thereto shall be the period of time during Executive’s employment by the Company plus a period of 20 months from the Separation Date.  The Company acknowledges that Executive’s position as a member of the Board of Directors of Global Advanced Metals Pty Ltd does not violate Executive’s obligations under this Section 9.

			
	
			
				 Section 10.
			Entire Agreement.  This Agreement, including the sections of the Employment Agreement incorporated by reference herein as provided in Section 9 hereof, sets forth the entire agreement between the parties hereto and supersedes the Employment Agreement (including, but limited to Sections 1(e) and 1(f) of the Employment Agreement) and any other prior agreements or understandings between the parties.  Executive acknowledges that Executive has not relied on any representations, promises, or agreements of any kind made to Executive in connection with Executive’ s decision to accept this Agreement, except for those set forth in this Agreement.

			
	
			
				 Section 11.
			Amendment; Waiver.  This Agreement may not be modified, altered or changed except in writing and signed by all parties hereto.  Any waiver by Executive or the 

		 

		

			7

		

 

	Company of a breach of any of the provisions of this Agreement must be in writing and shall not operate or be construed as a waiver of any of the rights and privileges of Executive or the Company under this Agreement or of any subsequent breach.  

			
	
			
				 Section 12.
			Severability.  The provisions of this Agreement are severable, and should any provision be declared invalid or not enforceable, the remaining provisions of the Agreement shall not be affected thereby unless such reading shall operate to deprive a party of the overall benefit of the bargain as agreed to herein.  

			
	
			
				 Section 13.
			Attorney Fees.  Executive agrees that he will be solely and individually responsible for compensating any attorney(s) for any services they have rendered to or for him in connection with the review of this Agreement or any other matters whatsoever.

			
	
			
				 Section 14.
			Non-Admission of Liability.  It is understood and agreed that the Company has denied and continues to deny that it is liable to Executive on any theory, and that nothing in this Agreement, including, but not limited to, the payment of the Severance Benefits and other valuable consideration set forth in Section 1 hereof, constitutes an admission by the Company of any fact, damage or liability to Executive on any theory.

			
	
			
				 Section 15.
			Other Acknowledgments.  Executive hereby represents and certifies that Executive: (a) has carefully read all of this Agreement; (b) has been given a fair opportunity to discuss and negotiate the terms of this Agreement by and through legal counsel; (c) understands the provisions of this Agreement; (d) has determined that it is in his best interest to enter into this Agreement; (e) has not been influenced to sign this Agreement by any statement or representation by Company or any of its representatives not contained in this Agreement; and (f) enters into this Agreement knowingly and voluntarily.

			
	
			
				 Section 16.
			Successors and Assigns.  Executive shall not assign or transfer any of his rights or obligations under this Agreement to any individual or entity.  The Company may assign its rights hereunder to any of its affiliates or to any individual or entity who or that shall acquire or succeed to, by operation of law, or otherwise, all or substantially all of the assets of the Company or the Company’s business.  All provisions of this Agreement are binding upon, shall inure to the benefit of, and are enforceable by or against, the parties and their respective heirs, executors, administrators or other legal representatives and successors and permitted assigns.

			
	
			
				 Section 17.
			Governing Law; Jurisdiction.  The laws of the State of Indiana shall govern the validity, performance, enforcement, interpretation, and other aspects of this Agreement, notwithstanding any state’s choice of law provisions to the contrary.  The parties intend the provisions of this Agreement to supplement, but not displace, their respective obligations and responsibilities under the Indiana Uniform Trade Secrets Act.  Any proceeding to enforce, interpret, challenge the validity of, or recover for the breach of any provision of, this Agreement shall be filed in the courts of the State of Indiana or the United States District Court sitting in Indianapolis, Indiana, and the parties hereto expressly waive any and all objections to personal jurisdiction, service of process or venue in connection therewith.

			
	
			
				 Section 18.
			Right to Revoke Agreement.  The parties hereby acknowledge and agree that Executive will have 21 calendar days to review this Agreement and that this Agreement may 

		 

		

			8

		

 

	be revoked by Executive within 7 calendar days after he signs it.  This Agreement shall not be effective or enforceable until the 7 calendar-day revocation period has expired.  Furthermore, the offer to make the Severance Benefits to Executive and provide the other benefits and consideration set forth herein, shall expire and be deemed automatically withdrawn by the Company if not accepted and this Agreement signed within 21 calendar days.  The parties acknowledge and agree that any modification to this Agreement proposed or agreed to by the parties shall not restart the 21 calendar day period noted above.

			
	
			
				 Section 19.
			No Impact on Indemnification or Insurance Rights.  Nothing in this Agreement shall impair or otherwise affect (a) Executive’s rights to exculpation from liability, indemnification and advancement of expenses provided to former directors and officers of the Company under the Company’s Second Restated Certificate of Incorporation and Amended and Restated By-laws, as amended (collectively, the “Charter Documents”), or (b) any insurance coverage provided to former directors and officers of the Company under the Company’s director’s and officer’s insurance policies in force from time to time; provided that nothing in this Agreement shall prevent the Company from amending its Charter Documents or amending or canceling any such insurance policies in any respect; and provided, further, that the Company shall not be required to maintain any specified level of such insurance coverage.

		
			[Signatures on next page]
		

		
			
		

		
			

		 

		

			9

		

 

		

		
			IN WITNESS WHEREOF, the parties have executed this Agreement as of the date(s) set forth below.
		

		
			HAYNES INTERNATIONAL, INC.
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Mark M. Comerford

					
					
						 

					
					
						By:

					
					
						/s/ Michael Shor

				
	
					
						 

					
					
						Mark M. Comerford

					
					
						 

					
					
						 

					
					
						Michael Shor

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						Chairman of the Board

				
	
					
						Date:

					
					
						May 27, 2018

					
					
						 

					
					
						Date:

					
					
						May 29, 2018

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			 
		

		
			

		 

		

			10

		

 

		

			 

		

		

		
			Exhibit A
		

		
			To 
		

		
			Resignation and General Release Agreement
		

		
			Summary of Equity Awards
		

		
			Exercisable Stock Options
		

			
					
						Grant Date

					
					
						Number of Shares

					
					
						Exercise Price

					
					
						Expiration Date

					
						 

				
	
					
						10/01/08

					
					
						20,000

					
					
						$46.83

					
					
						10/01/18

				
	
					
						11/24/10

					
					
						8,800

					
					
						$40.26

					
					
						11/24/20

				
	
					
						11/25/11

					
					
						7,000

					
					
						$55.88

					
					
						11/25/21

				
	
					
						11/20/12

					
					
						12,600

					
					
						$47.96

					
					
						11/20/22

				
	
					
						11/26/13

					
					
						15,000

					
					
						$52.78

					
					
						11/26/23

				
	
					
						11/25/14

					
					
						27,000

					
					
						$46.72

					
					
						11/25/24

				
	
					
						11/24/15

					
					
						18,400

					
					
						$37.75

					
					
						11/24/25

				
	
					
						11/22/16

					
					
						5,633

					
					
						$40.86

					
					
						11/22/26

				
	
					
						Total

					
					
						114,433

					
					
						 

					
					
						 

				

		
			 
		

		
			Accelerated Time-Based Shares
		

			
					
						 

					
					
						 

					
						 

				
	
					
						Grant Date

					
					
						Number of Accelerated Time-Based Shares

					
						 

				
	
					
						11/24/15

					
					
						5,444

				
	
					
						11/22/16

					
					
						3,845

				

		
			 
		

		
			Retained Performance-Based Shares
		

			
					
						 

					
					
						 

					
						 

				
	
					
						Grant Date

					
					
						Number of Retained Performance-Based Shares*

					
						 

				
	
					
						11/24/15

					
					
						5,444

				
	
					
						11/22/16

					
					
						3,390

				

		
			 
		

		
			*Performance-based equity reflects shares at target performance.
		

		
			 
		

		
			

		 

 

		

			 

		

		

		
			Exhibit B
		

		
			To 
		

		
			Resignation and General Release Agreement
		

		
			To be signed on Executive’s last day of employment.
		

		
			Reaffirmation of Resignation and General Release Agreement
		

		
			1.I, the undersigned, hereby reaffirm the terms of the Resignation and General Release Agreement, dated May 29, 2018 (“Release Agreement”) previously entered into between Haynes International, Inc. (the “Company”) and me, which agreement is hereby incorporated by reference into this Reaffirmation of Resignation and General Release Agreement (“Reaffirmation”). I hereby reaffirm that I have complied with all the terms of the Release Agreement and that I will continue to do so. I also reaffirm and agree to all the terms of the Release Agreement. This Reaffirmation shall not apply to rights or claims that may arise after the date the parties sign this document.
		

		
			2.By signing this Reaffirmation, I acknowledge that I have read it and understand it. I understand that I am giving up rights and possible legal and/or administrative claims by signing it.  I agree to all of the terms and conditions contained in the Release Agreement. I am aware of my right to consult an attorney before signing this Reaffirmation and I acknowledge that the Company has advised me that I should do so, and that I have done so.  
		

		
			3.I understand that I have previously been given at least twenty-one (21) calendar days to consider whether I wish to sign this Affirmation.  I understand that I have seven (7) calendar days after signing this Reaffirmation to revoke my release of claims under the Age Discrimination in Employment Act and the Older Workers Benefit Protection Act pursuant to this Reaffirmation.  I have signed this Reaffirmation knowingly and voluntarily. 
		

		
			4.I also understand that if I exercise my right not to sign this Reaffirmation or my right to revoke this Reaffirmation, I will not receive the Severance Benefits described in the Release Agreement, but will instead receive the total gross amount of $10.00 in consideration of my execution of the Release Agreement. 
		

		
			 
		

		
			__________________________________________Date: September 30, 2018
		

		
			Mark Comerford
		

		
			HAYNES INTERNATIONAL, INC.
		

		
			 
		

		
			_________________________________________Date: ___________, 2018
		

		
			Signature
		

		
			 
		

		
			________________________________________
		

		
			Title
		

		
			 
		

		
			________________________________________
		

		
			Printed Name

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