Document:

EX-10.2

 

Exhibit 10.2

TOTAL SHAREHOLDER RETURN INCENTIVE COMPENSATION PROGRAM

AWARD AGREEMENT

Allegheny Technologies Incorporated (the “Company”) and the award recipient named below
(“Participant”) enter into this Total Shareholder Return Incentive Compensation Program Agreement
effective as of January 1, 2008.

	 	 	 
	Participant:

	 	«Name»
	 

	 	PARTICIPANT TO COMPLETE THE FOLLOWING CHART
	 

	 	(Please print)
	 
	 	 
	Street Address
	 	 
	 
	 	 
	City/State/Zip Code
	 	 
	 
	 	 
	Social Security Number
	 	 

WHEREAS, the Company has adopted the Allegheny Technologies Incorporated 2007 Incentive Plan (the
"Plan”) and, in accordance with the Plan, has adopted Administrative Rules for the Total
Shareholder Return Incentive Compensation Program, as amended (the “TSRP”) as a portion of the Plan
to (i) assist the Company retain and motivate key management employees; (ii) reward key management
employees for the overall success of the Company; and (iii) provide a means of encouraging key
management employees to acquire and hold shares of Company Common Stock.

WHEREAS, the TSRP provides that each TSR Target Award made under the TSRP shall be evidenced by an
Award Agreement between the Company and the key management employee who receives a TSR Target Award
under the TSRP setting forth the terms and conditions of such TSR Target Award;

WHEREAS, the Company desires to make a TSR Target Award to the Participant and evidence such TSR
Target Award by this Award Agreement and the Participant, having read and understood the Plan and
the TSRP, is willing to enter into this Award Agreement on the terms and conditions set forth
herein.

NOW THEREFORE, in consideration of the covenants and agreements herein contained and intending to
be legally bound, the parties hereto agree with each other as follows:

Subject to the attainment of the Performance Levels described below and to the terms and conditions
of the Plan, the TSRP and the Terms and Conditions of Award attached hereto and incorporated herein
by reference, by which Participant agrees to be bound, the Company awards to Participant the Award
described below, with respect to the Performance Period described below:

 

 

PERFORMANCE PERIOD: January 1, 2008 through December 31, 2010

TSR TARGET AWARD: «TSRP target shares» Shares of Company Common Stock

[equals applicable base salary times                     %(which is the Participant’s target award opportunity as
a percent of salary) divided by $91.084 (which is the average Closing Price for the 30 trading days
prior to January 1, 2008)]

PERFORMANCE LEVELS: The following table shows the performance award relationship under the TSRP
for the 2008 — 2010 performance period:

	 	 	 	 	 	 	 
	 	 	Outcome Relative to Peer Group TSR	 
	 	 	Three-Year Percentile	 	Percent of Target	 
	Level of Performance	 	Ranking in TSR	 	Award Earned	 
	Below Threshold
	 	Below 25th percentile	 	 	0	%
	Threshold
	 	25th percentile	 	 	50	%
	Target
	 	50th percentile	 	 	100	%
	Excellent
	 	75th percentile	 	 	200	%
	Outstanding
	 	90th percentile	 	 	300	%

Note: Extrapolation between points will be made on a straight line basis on each scale. Below the 25th percentile and above the 90th percentile, there will be no extrapolation.

THE ACTUAL AWARD UNDER THE TSRP WILL EQUAL THE TSR TARGET AWARD TIMES THE APPLICABLE PERCENT OF
TARGET AWARD EARNED.

IN WITNESS WHEREOF, the parties hereto have executed this Total Shareholder Return Incentive
Compensation Program Award Agreement effective the day and year first above written.

ALLEGHENY TECHNOLOGIES INCORPORATED

	 	 	 	 	 
	By:

	 	/s/ Jon D. Walton
	 	 
	 

	 	 	 	 
	 

	 	Title: Executive Vice President, Human Resources,

                    Chief Legal & Compliance Officer	 	 

	 	 	 
	PARTICIPANT:

	 	WITNESS:
	 
	 	 
	 

	 	 

2

 

TERMS AND CONDITIONS OF TSRP AWARD

Section 1: Definitions

Capitalized words used but not defined below or elsewhere in these Terms and Conditions shall have
the meanings ascribed to them in the Plan.

“Administrative Rules” or “TSRP” shall mean the Administrative Rules for the TSRP adopted by the
Committee effective January 1, 2001, as amended effective
February 24, 2005 and as further amended effective February 21, 2008, as the same may be amended
from time to time.

“Award” shall mean the grant of a TSR Target Award evidenced by this Award Agreement.

“Committee” means the Personnel and Compensation Committee of the Board of Directors.

“Common Stock” shall mean the common stock, $0.10 par value per share, of Allegheny Technologies
Incorporated.

“Company” shall mean Allegheny Technologies Incorporated and its subsidiaries, unless the context
requires otherwise.

“Disability” shall mean the total and permanent disability of Participant as determined by the
Committee in its sole discretion.

“Excellent” shall mean a relative standing of the Company’s TSR as against the TSR for the Peer
Group, in each case for the TSR Performance Period, equal to or greater than 75% but less than 90%.

“Outstanding” shall mean a relative standing of the Company’s TSR as against the TSR for the Peer
Group, in each case for the TSR Performance Period, equal to or greater than 90%.

“Peer Group” shall mean the corporations listed on Exhibit 1 to this Award Agreement, subject to
the adjustments to such group as permitted under the Administrative Rules.

“Retirement” means a termination of employment with the Company and each of its subsidiaries, with
the consent of the Company, at or after (i) attaining age 55 and (ii) completing five years of
employment with the Company and/or any subsidiary of the Company.

“Target” shall mean a relative standing of the Company’s TSR as against the TSR of the Peer Group,
in each case for the TSR Performance Period, of equal to or greater than 50% but less than 75%.

“Threshold” shall mean a relative standing of the Company’s TSR as against the TSR of the Peer
Group, in each case for the TSR Performance Period, of equal to or greater than 25% but less than
50%.

“TSR Performance Level” means the measure of Company TSR performance relative to the Peer Group, as
set forth on page 2 of this Award Agreement. In determining the final Performance Level, the
Committee shall use straight-line extrapolation between Threshold and Target, between Target and
Excellent, and between Excellent and Outstanding. No TSR Reward will be earned for a Performance
Level less than Threshold. No additional TSR Reward above Outstanding will be earned for a
Performance Level greater than Outstanding.

3

 

Section 2: TSRP Award

2.1 Subject to the attainment of the TSR Performance Levels and to the terms and conditions
otherwise set forth in the Plan, the TSRP and this Award Agreement, the Company awards to
Participant the TSRP Award described in the first two pages of this Award Agreement with respect to
the Performance Period described therein.

Section 3: Payment

3.1 Subject to the withholding obligations and any requirements of Section 4 then applicable, the
Company shall deliver to the Participant certificates representing the TSR Rewards, if any, for the
TSR Performance Period within 75 days after the end of the TSR Performance Period.

3.2 If the Participant terminates employment with the Company and each subsidiary of the Company
during a then uncompleted TSR Performance Period for reasons other than death, Disability or
Retirement, any TSR Target Award for any then uncompleted TSR Performance Period shall be forfeited
automatically and the shares represented by such TSR Target Awards shall again be eligible for
awards under the Rules.

3.3 If the Participant terminates employment with the Company and each Subsidiary of the Company
during a then uncompleted TSR Performance Period due to the Participant’s death, Disability, or
Retirement, a pro rata award based on the number of full months worked by the Participant during
that Performance Period will be calculated, based on goal achievement over the entire performance
period. Any award determined to be payable shall be paid after the end of the applicable
Performance Period.

Section 4: Miscellaneous

4.1 General Restriction. To the extent any TSR Target Award is denominated in Common Stock
under this Award Agreement, it shall be subject to the requirement that if at any time the
Committee shall determine that any listing or registration of the shares of Common Stock or any
consent or approval of any governmental body or any other agreement or consent is necessary or
desirable as a condition of the issuance of shares of Common Stock or cash in satisfaction thereof,
such issuance of shares of Common Stock may not be consummated unless such requirement is satisfied
in a manner acceptable to the Committee. The Company shall in no event be obligated to register
any securities pursuant to the Securities Act of 1933 (as the same shall be in effect from time to
time) or to take any other affirmative action to cause the issuance of shares pursuant to the
distribution of TSR Rewards to comply with any law or regulation of any governmental authority.

4.2 Non-Assignability. No TSR Target Award granted under this Award Agreement shall be
assignable or transferable by the Participant, except by will or by the laws of descent and
distribution. During the life of the Participant, any TSR Rewards shall be payable only to the
Participant. No assignment or transfer of a TSR Target Award or of the rights represented thereby,
whether voluntary or involuntary, by operation of law or otherwise (except by will or the laws of
descent and distribution), shall vest in the assignee or transferee any interest or right herein
whatsoever, and immediately upon

4

 

such purported assignment or transfer, the TSR Target Awards shall terminate and become of no
further effect.

4.3 Withholding Obligations. Whenever the Company makes delivery under the Plan, in whole
or in part, the Company shall notify the Participant of the amount of withholding for tax, if any,
which must be paid under federal and, where applicable, state and local law. The Company shall, in
the discretion of the Company, but with the consent of the Committee, arrange for payment for such
withholding for taxes in any one or combination of the following ways: (i) acceptance of an amount
in cash paid by the Participant; or (ii) reduction in the number of shares to be issued by that
number of shares which, in aggregate, have a value equal to such withholding amount. If the full
amount of the required withholding is not recovered in the above manner, the Participant shall,
forthwith upon receipt of notice, remit the deficiency to the Company. No shares of Common Stock
shall be issued or delivered to the Participant (and/or the Participant’s designee) until all
applicable withholding obligations shall have been satisfied in full.

4.4 Delivery of Certificates. As soon as practicable after compliance by the Participant
with all applicable conditions including, but not limited to, the satisfaction of the Withholding
Obligations described in Section 4.3 hereof, the Company will issue and deliver by mail, or cause
delivery by mail, to the Participant at the address specified by the Participant in writing,
certificates registered in the name of the Participant (and/or the Participant’s designee) for the
number of shares of Common Stock which the Participant is entitled to receive (subject to reduction
for withholding as provided in Section 4.3 hereof) under the provisions of this Award Agreement.

4.5 No Right to Employment. Nothing in the Plan or in this Award Agreement shall confer
upon the Participant the right to continue in the employ of the Company or any subsidiary or affect
any right that the Company or a subsidiary may have to terminate the employment of the Participant.

4.6 Amendment or Termination of the Plan. The Plan, or any part thereof (including the
TSRP and/or Administrative Rules) may be terminated or may, from time to time, be amended, each in
accordance with the Plan, TSRP or Administrative Rules, as applicable, provided, however, the
termination or amendment of the Plan, the Administrative Rules or TSRP shall not, without the
consent of the Participant, affect Participant’s rights under this Award Agreement.

4.7 Investment Representation. Under the federal and/or state securities laws, the
Participant may be required to deliver, and, if so, shall deliver, to the Committee, upon demand by
the Committee, at the time of any payment of Common Stock, a written representation that the shares
to be acquired are to be acquired for investment and not for resale or with a view to the
distribution thereof. Upon such demand, delivery of such representation prior to delivery of any
shares shall be a condition precedent to the right of the Participant to receive any shares.

4.8 No Rights as Shareholder. The Participant shall have no rights as a stockholder of the
Company with respect to shares of Common Stock subject to the Award evidenced this Award Agreement
unless and until a certificate for shares of Common Stock is issued to the Participant.

5

 

4.9 Adjustment of Award. In the event of any change or changes in the outstanding Common
Stock of the Company by reason of any stock dividend, recapitalization, reorganization, merger,
consolidation, split-up, combination or exchange of shares or any rights offering to purchase a
substantial amount of Common Stock at a price substantially below fair market value or of any
similar change affecting the Common Stock, any of which takes effect after the first grant of a TSR
Target Award under this Award Agreement, the Committee may, in its discretion, appropriately adjust
the number of shares of Common Stock which may be issued under this Award Agreement, the number of
shares of Common Stock subject to TSR Target Awards under this Award Agreement and any and all
other adjustments deemed appropriate by the Committee to prevent substantial dilution or
enlargement of the rights granted to the Participant in such manner as the Committee shall deem
appropriate. Any adjustment so made shall be final and binding upon the Participant.

4.10 Awards Not a Bar to Corporate Event. The existence of the TSR Target Awards granted
hereunder shall not affect in any way the right or the power of the Company or its stockholders to
make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in
the Company’s capital structure or its business, or any merger or consolidation of the Company, or
any issue of bonds, debentures, preferred or prior preference stocks ahead of or affecting the
Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale
or transfer of all or any part of its assets or business, or any other corporate act or proceeding,
whether of a similar character or otherwise.

4.11 Not Income for Qualified Plans. No amounts of income received by a Participant
pursuant to this Award Agreement shall be considered compensation for purposes of any pension or
retirement plan, insurance plan or any other employee benefit plan of the Company or any of its
affiliates.

4.12 Meaning of Participant. Whenever the word “Participant” is used in any provision of
this Award Agreement under circumstances where the provision should logically be construed to apply
to the executors, the administrators, or the person or persons to whom the TSR Target Awards may be
transferred by will or by the laws of descent and distribution, the word “Participant” shall be
deemed to include such person or persons.

4.13 Determinations of Committee. The actions taken and determinations of the Committee
made pursuant to this Award Agreement and of the Committee pursuant to the Plan, the TSRP and the
Administrative Rules shall be final, conclusive and binding upon the Company and upon the
Participant. No member of the Committee shall be liable for any action taken or determination made
relating to this Award Agreement, the Plan, the TSRP, or the Administrative Rules if made in good
faith.

6

 

Exhibit 1: List of Peer Companies (2008 — 2010 Performance Period)

Alcoa Inc.

AK Steel Holding Corp.

Brush Engineered Materials

Carptenter Technology Corp.

Castle (A M) & Co.

Commerical Metals

Gerdau Ameristeel Corp.

Kennametal Inc.

Ladish Co. Inc.

Metal Management Inc.

Nucor Corp.

Precision Castparts Corp.

Quanex Corp.

Reliance Steel & Aluminum Co.

RTI International Metals Inc.

Schnitzer Steel INDS — CL A

Steel Dynamics Inc.

Timken Co.

Titanium Metals Corp.

United States Steel Corp.

Universal Stainless & Alloy Products

Worthington Industries

7EX-10.3

 

Exhibit 10.3

PERFORMANCE/RESTRICTED STOCK AGREEMENT

     This Performance/Restricted Stock Agreement (the “Agreement”) made as of the 21st day of
February, 2008 by and between ALLEGHENY TECHNOLOGIES INCORPORATED, a Delaware corporation (the
“Corporation”) and [NAME] (“the Employee”).

     WHEREAS, the Corporation sponsors and maintains the Allegheny Technologies Incorporated Stock
2007 Incentive Plan (the “Incentive Plan”);

     WHEREAS, the Corporation desires to encourage the Employee to remain an employee of the
Corporation and, during such employment, to contribute substantially to the financial performance
of the Corporation and, to provide that incentive, the Corporation has awarded, subject to the
performance and employment restrictions described herein, the Employee an aggregate of                     
shares of the common stock of the Corporation, $0.10 par value per share (“Common Stock”);

     WHEREAS, half of the Shares Subject to Restrictions are subject to the Corporation’s
attainment of the performance requirements set forth in Paragraph 3(a) (the “Performance
Criteria”); and half of the Shares Subject to Restrictions are subject to the Employee’s remaining
an Employee (except in instances of death, disability or Retirement as described below) during the
Restriction Period set forth in Paragraph 3(b), subject to accelerated termination of the
Restriction in the event of attainment of the Performance Criteria; and

     WHEREAS, the Corporation and the Employee desire to evidence the award of the Shares Subject
to Restrictions and the terms and conditions applicable thereto in this Restricted Stock Agreement.

     NOW THEREFORE, in consideration of the mutual promises and covenants contained herein and
intending to be legally bound, the Corporation and the Employee agree as follows:

     1. Grant of Shares Subject to Restrictions. The Corporation hereby grants to the
Employee, as of the date first written above, the Shares Subject to Restrictions subject to the
restrictions and other terms and conditions set forth herein. Simultaneously with the execution
and delivery of this Agreement, the Employee shall deliver to the Corporation a stock power
endorsed in blank relating to the Shares Subject to Restrictions (including in such power any
increases or adjustments to the Shares Subject to Restrictions). As soon as practicable after the
Date of Grant, the Corporation shall direct that the Shares Subject to Restrictions be registered
in the name of and issued to the Employee and initially bearing the legend described in Paragraph
5. The Shares Subject to Restrictions and any certificate or certificates representing the Shares
Subject to Restrictions shall be held in the custody of the Corporation or its designee until the
expiration of the applicable Restrictions. Upon any forfeiture in accordance with Paragraph 4 of
the Shares Subject to Restrictions, the

 

 

forfeited shares and any certificate or certificates representing the forfeited Shares Subject
to Restrictions shall be canceled.

     2. Restrictions. Employee shall have all rights and privileges of a stockholder of
the Corporation with respect to the Shares Subject to Restrictions, except that the following
restrictions shall apply:

     (a) None of the Shares Subject to Restrictions may be sold, transferred, assigned, pledged or
otherwise encumbered or disposed of during the “Restriction Period” as defined below, except to the
extent of the Corporation’s earlier attainment of the Performance Criteria, as defined below.

     (b) The Shares Subject to Restrictions are subject to forfeiture during the Restriction Period
in accordance with Paragraph 4 of this Agreement.

     (c) The Shares Subject to Restrictions and any certificate representing the Shares Subject to
Restrictions shall be held in custody by the Corporation or its designee until such time as either
the Performance Criteria are attained or the Restriction Period shall have been completed.

     (d) Dividends paid with respect to the Shares Subject to Restrictions during the Restriction
Period shall be paid to the Employee.

     3. Term of Restriction.

     (a) Subject to the forfeiture provisions of Paragraph 4 of this Agreement, the Restrictions
shall lapse (i) with respect to half of the Shares Subject to Restrictions on the earlier of (x)
February 20, 2013 if the Employee is an employee of the Corporation on February 20, 2013, unless
the Employee’s cessation of employment was due to the Employee’s death, disability or Retirement
(as defined below), or (y) as soon after the completion of the audit of the Corporation for the
2010 fiscal year as it may be determined that the Performance Criteria have been attained and (ii)
with respect to half of the Shares Subject to Restrictions, as soon after the completion of the
audit of the Corporation for the 2010 fiscal year as it may be determined that the Performance
Criteria have been. With respect to the half of the Shares Subject to Restrictions subject only to
the Performance Criteria, if the Corporation does not attain the Performance Criteria on or before
the three year measurement period ending December 31, 2010, such half of the Shares Subject to
Restrictions shall be forfeited immediately upon the completion of that three-year measurement
period.

     (b) For purposes of this Agreement, the “Performance Criteria” shall mean that the net income
of the Corporation, measured under GAAP, shall exceed $1.2 billion, in the aggregate, for the 2008,
2009 and 2010 fiscal years of the Corporation. The period for measuring the Performance Criteria
shall end as of December 31, 2010 and the Personnel and Compensation Committee shall as promptly as
possible following the

 

 

completion of the audit of the Corporation for the 2010 fiscal year determine whether the
Performance Criteria have been met.

     (c) The period from the Date of Grant until the lapse of the applicable of the Restrictions
with respect to the Shares Subject to Restrictions is the “Restriction Period” for purposes of this
Agreement.

     (d) As soon as administratively practicable following the lapse of the Restrictions without a
forfeiture of the applicable Shares Subject to Restrictions, and upon the satisfaction of all other
applicable conditions as to such Shares Subject to Restrictions, including, but not limited to, the
payment by the Employee of all applicable withholding taxes, if any, the Corporation shall deliver
or cause to be delivered to the Employee shares of Common Stock, which may be in the form of a
certificate or certificates for such shares, equal in number to the applicable Shares Subject to
Restrictions, which shall not be subject to the transfer restrictions set forth above and shall not
bear the legend described in Paragraph 5. Without limiting the foregoing, (i) if the Performance
Criteria are met, all Shares Subject to Restrictions shall become non-forfeitable and such Shares
or the certificate representing such non-forfeitable shares of common stock of the Corporation
shall be delivered as described above and (ii) if the Performance Criteria are not met, (x) half of
the Shares Subject to Restrictions shall be forfeited immediately after the end of the measurement
period for such Performance Criteria and (y) the remaining half of the Shares Subject to
Restrictions shall be non-forfeitable, if at all, at the end of the Restriction Period.

     4. Forfeiture of Shares Subject to Restrictions. If Employee’s employment with the
Corporation and all of its direct or indirect subsidiaries is terminated by either party for any
reason, including, but not limited to, the involuntary termination of the Employee’s employment
with the Corporation for any reason, with or without cause, other than the Employee’s death,
disability or retirement with the consent of the Corporation when the Employee is at least 55 years
of age with at least five years of service (“Retirement”), (i) all rights of the Employee to the
Shares Subject to Restrictions which remain subject to the Restrictions shall terminate immediately
and be forfeited in their entirety, and (ii) the forfeited Shares Subject to Restrictions and any
stock certificate or certificates representing the forfeited Shares Subject to Restrictions shall
be canceled. If the Employee dies or becomes disabled during the Restriction Period, the Shares
Subject to Restrictions will immediately vest. If the Employee retires with the consent of the
Corporation when the Employee is at least 55 years of age with at least five years of service, the
Employee (or the Employee’s beneficiary) shall receive the Shares Subject to Restrictions when, if
and to the extent, the Restrictions lapse under Paragraph 3.

     5. Change of Control. All Shares Subject to Restrictions shall fully vest in the
event of a Change of Control as defined in the Incentive Plan.

     6. Legend. During the Restriction Period, the shares of Restricted Stock and any
share certificate or certificates evidencing the Shares Subject to Restrictions shall

 

 

be endorsed with the following legend (in addition to any legend required under applicable
securities laws or any agreement by which the Corporation is bound):

THE TRANSFERABILITY OF THE SHARES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE TERMS
AND CONDITIONS OF A RESTRICTED STOCK AGREEMENT ENTERED INTO BY AND BETWEEN ALLEGHENY
TECHNOLOGIES INCORPORATED AND THE HOLDER OF THIS CERTIFICATE. A COPY OF SUCH AGREEMENT IS
ON FILE AT THE OFFICE OF THE CORPORATION.

     7. Withholding. The Corporation or its direct or indirect subsidiary may withhold
from the number of Shares Subject to Restrictions or from any cash amount payable hereunder or any
other cash payments due to Employee all taxes, including social security taxes, which the
Corporation or its direct or indirect subsidiary is required or otherwise authorized to withhold
with respect to the Shares Subject to Restrictions.

     8. Adjustments to Number of Shares. Any shares issued to Employee with respect to the
Shares Subject to Restrictions in the event of any change in the number of outstanding common stock
of the Corporation through the declaration of a stock dividend or a stock split or combination of
shares or any other similar capitalization change shall be deemed to be Shares Subject to
Restrictions subject to all the terms set forth in this Agreement.

     9. No Right to Continued Employment; Effect on Benefit Plans. This Agreement shall
not confer upon Employee any right with respect to continuance of his or her employment or other
relationship, nor shall it interfere in any way with the right of the Corporation or its direct or
indirect subsidiary to terminate his or her employment or other relationship at any time. Income
realized by Employee pursuant to this Agreement shall not be included in Employee’s earnings for
the purpose of any benefit plan in which Employee may be enrolled or for which Employee may become
eligible unless otherwise specifically provided for in such plan.

     10. Employee Representations. In connection with the issuance of the Shares Subject
to Restrictions, Employee represents the following:

     (a) Employee has reviewed with Employee’s own tax advisors, the federal, state, local and
foreign tax consequences of this Agreement and the transactions contemplated hereby. Employee is
relying solely on such advisors and not on any statements or representations of the Corporation or
any of its agents. Employee understands that Employee (and not the Corporation) shall be
responsible for Employee’s own tax liability that may arise as a result of this Agreement and the
transactions contemplated hereby.

     (b) Employee has received, read and understood this Agreement and the Incentive Plan and
agrees to abide by and be bound by their respective terms and conditions.

 

 

     11. Miscellaneous.

     (a) Governing Law. This Agreement shall be governed and construed in accordance with
the domestic laws of the Commonwealth of Pennsylvania without regard to such Commonwealth’s
principles of conflicts of laws.

     (b) Successors and Assigns. The provisions of this Agreement shall inure to the
benefit of, and be binding upon, the successors, permitted assigns, heirs, executors and
administrators of the parties hereto. Neither this Agreement nor any rights hereunder shall be
assignable or otherwise subject to hypothecation without the consent of all parties hereto.

     (c) Entire Agreement; Amendment. This Agreement contain the entire understanding
between the parties hereto with respect to the subject matter of this Agreement and supersedes all
prior and contemporaneous agreements and understandings, inducements or conditions, express or
implied, oral or written, with respect to the subject matter of this Agreement. This Agreement may
not be amended or modified without the written consent of the Corporation and Employee.

     (d) Counterparts. This Agreement may be executed simultaneously in any number of
counterparts, each of which when so executed and delivered shall be taken to be an original and all
of which together shall constitute one document.

 

 

     (e) Definitions. Initially capitalized terms not otherwise defined in this Restricted
Stock Agreement shall have the meanings ascribed thereto in the Incentive Plan.

     IN WITNESS WHEREOF, the parties have executed this Shares Subject to Restrictions Agreement as
of the date first written above.

ALLEGHENY TECHNOLOGIES INCORPORATED

	 	 	 	 	 
	By:

	 	/s/ Jon D. Walton
	 	 
	 

	 	 	 	 
	Name:

	 	Jon D. Walton	 	 
	Title:

	 	Executive Vice President,
Human Resources, Chief Legal
and Compliance Officer	 	 

	 	 	 
	PARTICIPANT

	 	WITNESS

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