Document:

Form of Amd 2 to the Aleris Corp 2010 Equity Incentive Plan Director Stock Agmt

 Exhibit 10.22.2 

ALERIS CORPORATION 
 2010 EQUITY INCENTIVE PLAN 
 FORM OF 

AMENDMENT 2 TO THE 
 STOCK OPTION AWARD AGREEMENT 

                       
             , 2011 
 TO: 

FROM: Aleris Corporation (formerly “Aleris Holding Company”) 
  

	Re:	Amendment 2 to Option Award Agreement 

On     , 2010 you were granted an option to purchase shares of common stock of Aleris Corporation (the “Company”) (the
“Option”) pursuant to an Award Agreement issued under the Company’s 2010 Equity Incentive Plan (the “Plan”) amended as of April 28, 2011 by Amendment 1 to the Award Agreement. 

In light of the Company becoming a public company, we have amended, restated and renamed the Plan as the 2011 Equity Incentive Plan and we have mutually
agreed to amend the terms of your Award Agreement, effective immediately prior to the effectiveness of a 2011 initial public offering of the Company (the “IPO”), as follows: 

 

	1.	Section 2. Exercise. The last two sentences of Section 2 are deleted. 

 

	2.	Section 3(C). Early Termination of the Option. The reference to Plan Section 11 is amended to Plan Section 12. 

 

	3.	Section 4. Company Call Right. Section 4 is deleted. 

  

	4.	Section 5. Option Subject to Plan and Stockholders Agreement. Section 5 is amended to change the heading to Option Subject to Plan and Sections 5
(a) and (b) are amended to read as follows: 

  

	 	(a)	Participant Acknowledgements. By entering into this Award Agreement, you agree and acknowledge that (i) the Option is subject in all respects to the Plan;
(ii) the Option is subject to Plan provisions under which, in certain circumstances, the Committee may terminate your Option and/or make adjustments to the kind and/or number of shares or property underlying the Option; and (iii) the
Committee has discretion to interpret and administer the Plan and this Award Agreement and its judgments made in accordance with the Plan are final. 

  

	 	(b)	Conflicts. In the event of a conflict between any term or provision contained herein and a term or provision of the amended and restated Plan, the term or
provision contained in the amended and restated Plan shall control. 

  
 8149887.2 

	5.	Sections (a) and (f) of the Participant Acknowledgments are deleted. 

 

	6.	Effective Date of this Amendment. This Amendment 2 is effective immediately prior to the effectiveness of the IPO. 

 

	7.	Continued Terms of Option. Except as otherwise amended in this Agreement, your Option remains subject in all respects to the terms and conditions of the Award
Agreement, Amendment 1, and the 2011 Equity Incentive Plan and you acknowledge that a copy of the 2011 Equity Incentive Plan has been provided to you. 

 Please indicate your acceptance of this Amendment 2 to the Award Agreement with respect to your Option by signing and returning a copy of this Amendment 2 to the address set forth below as soon as
practicable. 
  

	
	Sincerely,
	
	  
	Christopher R. Clegg
	Executive Vice President, General Counsel & Secretary

  

	
	Agreed to and Accepted by:
	
	  

  
 2 

 8149887.2Form of Amd 1 to the Aleris Corp 2010 Equity Incentive Plan Director RSU

 Exhibit 10.23.1 

ALERIS CORPORATION 
 2010 EQUITY INCENTIVE PLAN 
 Form of 

AMENDMENT 1 TO THE 
 RESTRICTED STOCK UNIT AWARD AGREEMENT 

                       
     , 2011 
 TO: 
 FROM: Aleris Corporation (formerly “Aleris Holding Company”) 
  

	Re:	Amendment 1 to Restricted Stock Unit Award Agreement 

 On [    ], 2010, you were granted Restricted Stock Units of Aleris Corporation (the “Company”) pursuant to an Award Agreement issued under the Company’s 2010 Equity
Incentive Plan (the “Plan”). 
 In light of the Company becoming a public company, we have amended, restated and renamed the
Plan as the 2011 Equity Incentive Plan and we have mutually agreed to amend the terms of your Award Agreement, effective immediately prior to the effectiveness of a 2011 initial public offering of the Company (the “IPO), as follows: 

 

	1.	Section 2. Settlement. The last two sentences of Section 2 will be deleted. 

 

	2.	Section 3. Early Termination of the Restricted Stock Units. The reference to Plan Section 11 is amended to Plan Section 12.

  

	3.	Section 4. Company Call Right. Section 4 is deleted. 

  

	4.	Section 5. Restricted Stock Units Subject to Plan and Stockholders Agreement. Section 5 is amended to change the heading to read Restricted Stock Units
Subject to Plan and to amend Sections 5 (a) and (b) to read as follows:  

  

	 	(a)	Participant Acknowledgements. By entering into this Award Agreement, you agree and acknowledge that (i) the Restricted Stock Units are subject in all
respects to the Plan; (ii) the Restricted Stock Units are subject to Plan provisions under which, in certain circumstances, the Committee may terminate your Restricted Stock Units and/or make adjustments to the kind and/or number of shares or
property underlying the Restricted Stock Units; and (iii) the Committee has discretion to interpret and administer the Plan and this Award Agreement and its judgments made in accordance with the Plan are final. 

 

	 	(b)	Conflicts. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the term or provision contained in the
Plan shall control. 

  
 8149600.2

	5.	Sections (a) and (f) of the Participant Acknowledgments are deleted. 

 

	6.	Effective Date of this Amendment. This Amendment 1 is effective immediately prior to the effectiveness of the IPO. 

 

	7.	Continued Terms of Restricted Stock Units. Except as otherwise amended in this Agreement, your restricted stock units remain subject in all respects to the terms
and conditions of the Award Agreement and the 2011 Equity Incentive Plan and you acknowledge that a copy of the 2011 Equity Incentive Plan has been provided to you. 

 Please indicate your acceptance of this Amendment to the Award Agreement with respect to your Restricted Stock Units by signing and returning a copy of this Amendment to the address set forth below as
soon as practicable. 
  

	
	Sincerely,
	
	  
	Christopher R. Clegg
	Executive Vice President, General Counsel & Secretary

  

	
	Agreed to and Accepted by:
	
	  

  
 2 

 8149600.2Form of Amd 1 to the Aleris Corp 2010 Equity Incentive Plan Director Stock Agmt

 Exhibit 10.24.1 

FORM OF 

AMENDMENT 1 TO THE 
 STOCK OPTION AWARD AGREEMENT 
  

			
	 TO:
	  	
		
	 FROM:
	  	Aleris Corporation
		
	 RE:
	  	Amendment 1 to Option Award Agreement
		
	 DATE:
	  	April 28, 2011

 On [date] you were granted an Option to purchase shares of common stock of Aleris Corporation, fka Aleris Holding Company
(the “Company”) and issued an Award Agreement, which you subsequently signed and accepted. The Option was granted under the Company’s 2010 Equity Incentive Plan (the “Plan”), a copy of which was attached to the
Award Agreement. We are amending your Award Agreement by issuing this Amendment 1 in order to reflect adjustments made by a special committee of the Board of Directors of the Company, pursuant to the terms of the Plan, in light of the $9.60 cash
dividend that the Company issued on February 28, 2011 to stockholders of record of the Company’s common stock as of February 17, 2011. Your Option remains subject in all respects to the terms and conditions of the Plan and the Award
Agreement, as amended by this Amendment 1. 
  

	 	A.	Section 1(c) of the Award Agreement is hereby amended to read in its entirety as follows: 

Number of Shares and Exercise Price per Share: 
  

									
	 	  	Number of Shares	 	  	Exercise Price	 
	 The Option
	  				  			

  

	 	B.	For the avoidance of doubt, the adjusted number of shares underlying your Options, as set forth in section 1(c), will apply to those Options that are vested and
unvested as of the date of this Amendment. 

  

	 	C.	This Amendment 1 is being made in accordance with the Adjustment of Shares and Amendment provisions of the Plan. 

 

	 	D.	With the exception of the modifications set forth in this Amendment 1, all other provisions of the Award Agreement shall remain unchanged, and in full force and effect.

  

	
	Sincerely,
	
	  
	Christopher R. Clegg
	Executive Vice President, General Counsel & Secretary

  
 8167867.1Form of Amd 2 to the Aleris Corp 2010 Equity Incentive Plan Director Stock Agmt

 Exhibit 10.24.2 

ALERIS CORPORATION 
 2010 EQUITY INCENTIVE PLAN 
 FORM OF 

AMENDMENT 2 TO THE 
 STOCK OPTION AWARD AGREEMENT 
 , 2011 

 

			
	 TO:
	  	
		
	 FROM:
	  	Aleris Corporation (formerly “Aleris Holding Company”)
		
	 Re:
	  	Amendment 2 to Option Award Agreement

 On         , 2010 you were granted an option to purchase shares of common stock
of Aleris Corporation (the “Company”) (the “Option”) pursuant to an Award Agreement issued under the Company’s 2010 Equity Incentive Plan (the “Plan”) amended as of April 28, 2011 by Amendment 1 to the
Award Agreement. 
 In light of the Company becoming a public company, we have amended, restated and renamed the Plan as the 2011 Equity
Incentive Plan and we have mutually agreed to amend the terms of your Award Agreement, effective immediately prior to the effectiveness of a 2011 initial public offering of the Company (the “IPO”), as follows: 

 

	1.	Section 2. Exercise. The last two sentences of Section 2 are deleted. 

 

	2.	Section 3(C). Early Termination of the Option. The reference to Plan Section 11 is amended to Plan Section 12. 

 

	3.	Section 4. Company Call Right. Section 4 is deleted. 

  

	4.	Section 5. Option Subject to Plan and Stockholders Agreement. Section 5 is amended to change the heading to Option Subject to Plan and Sections 5
(a) and (b) are amended to read as follows: 

  

	 	(a)	Participant Acknowledgements. By entering into this Award Agreement, you agree and acknowledge that (i) the Option is subject in all respects to the Plan;
(ii) the Option is subject to Plan provisions under which, in certain circumstances, the Committee may terminate your Option and/or make adjustments to the kind and/or number of shares or property underlying the Option; and (iii) the
Committee has discretion to interpret and administer the Plan and this Award Agreement and its judgments made in accordance with the Plan are final. 

  

	 	(b)	Conflicts. In the event of a conflict between any term or provision contained herein and a term or provision of the amended and restated Plan, the term or
provision contained in the amended and restated Plan shall control. 

  
 8166868.1

	5.	Sections (a) and (f) of the Participant Acknowledgments are deleted. 

 

	6.	Effective Date of this Amendment. This Amendment 2 is effective immediately prior to the effectiveness of the IPO. 

 

	7.	Continued Terms of Option. Except as otherwise amended in this Agreement, your Option remains subject in all respects to the terms and conditions of the Award
Agreement, Amendment 1, and the 2011 Equity Incentive Plan and you acknowledge that a copy of the 2011 Equity Incentive Plan has been provided to you. 

 Please indicate your acceptance of this Amendment 2 to the Award Agreement with respect to your Option by signing and returning a copy of this Amendment 2 to the address set forth below as soon as
practicable. 
  

	
	Sincerely,
	
	  
	Christopher R. Clegg
	Executive Vice President, General Counsel & Secretary
	
	Agreed to and Accepted by:
	
	  

  
 2 

 8166868.1

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