Document:

EX-10.1

 Exhibit 10.1 
 FIFTH AMENDMENT TO CREDIT AGREEMENT 
 This Fifth Amendment to Credit
Agreement is dated April 4, 2012, by and among ATI Funding Corporation, a Delaware corporation (“ATI Funding”), TDY Holdings, LLC, a Delaware limited liability company (“TDYH”) (ATI Funding and TDYH are each, a
“Borrower” and collectively, the “Borrowers”), the Guarantors (as defined in the Credit Agreement (as hereinafter defined)) party hereto, the Lenders (as hereinafter defined) party hereto and PNC Bank, National Association
(“PNC Bank”) as administrative agent for the Lenders (in such capacity, the “Administrative Agent”) (the “Fifth Amendment”). 
 W I T N E S S E T H: 
 WHEREAS, the Borrowers, the Guarantors, PNC Bank and various other financial institutions party thereto (PNC Bank and such other financial institutions are each, a “Lender” and collectively, the
“Lenders”) and the Administrative Agent entered into that certain Credit Agreement, dated July 31, 2007, as amended by that certain First Amendment to Credit Agreement, dated May 29, 2009, among the Borrowers, the Guarantors, the
Lenders and the Administrative Agent, as further amended by that certain Second Amendment to Credit Agreement, dated December 22, 2010, among the Borrowers, the Guarantors, the Lenders and the Administrative Agent, as further amended by that
certain Third Amendment to Credit Agreement, dated March 11, 2011, among the Borrowers, the Guarantors, the Lenders and the Administrative Agent, and as further amended by that certain Fourth Amendment to Credit Agreement, dated
November 9, 2011, among the Borrowers, the Guarantors, the Lenders and the Administrative Agent (as further amended, restated, modified or supplemented from time to time, the “Credit Agreement”); and 

WHEREAS, the Borrowers and the Guarantors desire to amend certain provisions of the Credit Agreement and the Lenders and the
Administrative Agent shall permit such amendments pursuant to the terms and conditions set forth herein. 
 NOW, THEREFORE, in
consideration of the premises contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows: 

1. All capitalized terms used herein that are defined in the Credit Agreement shall have the same meaning herein as in the Credit
Agreement unless the context clearly indicates otherwise. 
 2. Section 1.1 of the Credit Agreement is hereby amended by
inserting the following defined term in appropriate alphabetical order: 
 Fifth Amendment Closing Date
shall mean April 4, 2012. 
 3. Section 1.1 of the Credit Agreement is hereby further amended by restating the
following definitions in their entirety as set forth below: 

 Change in Law shall mean the occurrence, after the date of this
Agreement, of any of the following: (a) the adoption or taking effect of any Law, (b) any change in any Law or in the administration, interpretation or application thereof by any Official Body or (c) the making or issuance of any
request, guideline or directive (whether or not having the force of Law) by any Official Body; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all
requests, rules, regulations, guidelines, interpretations or directives thereunder or issued in connection therewith (whether or not having the force of Law) and (y) all requests, rules, regulations, guidelines, interpretations or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities (whether or not having the force of Law), in each case
pursuant to Basel III, shall in each case be deemed to be a Change in Law regardless of the date enacted, adopted, issued, promulgated or implemented. 
 Expiration Date shall mean, with respect to the Revolving Credit Commitments, April 4, 2017. 
 Non-Complying Lender shall mean any Lender that (a) has failed, within two (2) Business Days of the date required to be funded or paid, to (i) fund any portion of its Loans,
(ii) fund any portion of its participations in Letters of Credit or Swing Loans or (iii) pay over to the Administrative Agent, the Issuing Lender, PNC Bank (as the Swing Loan Lender) or any Lender any other amount required to be paid by it
hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically
identified and including the particular default, if any) has not been satisfied, (b) has notified the Borrowers or the Administrative Agent in writing, or has made a public statement to the effect, that it does not intend or expect to comply
with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including
the particular default, if any) to funding a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within two (2) Business Days after request by the
Administrative Agent, acting in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to

  
 - 2 -

 
meet such obligations) to fund prospective Loans and participations in then-outstanding Letters of Credit and Swing Loans under this Agreement, provided that such Lender shall cease to be a
Non-Complying Lender pursuant to this clause (c) upon the Administrative Agent’s receipt of such certification in form and substance satisfactory to the Administrative Agent, (d) has become the subject of a Bankruptcy Event or
(e) has failed at any time to comply with the provisions of Section 4.3 with respect to purchasing participations from the other Lenders, whereby such Lender’s share of any payment received, whether by setoff or otherwise, is in
excess of its Ratable Share of such payments due and payable to all of the Lenders. 
 As used in this
definition and in Section 2.11 [Non-Complying Lenders], the term “Bankruptcy Event” means, with respect to any Person, such Person or such Person’s direct or indirect parent company becomes the subject of a bankruptcy or
insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good
faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by
virtue of any ownership interest, or the acquisition of any ownership interest, in such Person or such Person’s direct or indirect parent company by an Official Body or instrumentality thereof if, and only if, such ownership interest does not
result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Official Body or instrumentality) to
reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 
 Official Body
shall mean the government of the United States of America or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank) and any group or body
charged with setting financial accounting or regulatory capital rules or standards (including, without limitation, the Financial Accounting Standards Board, the Bank for International 

  
 - 3 -

 
Settlements or the Basel Committee on Banking Supervision or any successor or similar authority to any of the foregoing). 

Ratable Share shall mean the proportion that a Lender’s Commitment (excluding the Swing Loan Commitment)
bears to the Commitments (excluding the Swing Loan Commitment) of all of the Lenders, provided that in the case of Section 2.11 [Non-Complying Lenders] when a Non-Complying Lender shall exist, “Ratable Share” shall mean the
percentage of the aggregate Commitments (disregarding any Non-Complying Lender’s Commitment) represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Ratable Share shall be determined based upon the
Commitments (excluding the Swing Loan Commitment) most recently in effect, giving effect to any assignments. 
 4. The following
new Section 2.11 of the Credit Agreement is hereby added immediately after Section 2.10 of the Credit Agreement: 
 2.11 Non-Complying Lenders. 
 Notwithstanding any provision
of this Agreement to the contrary, if any Lender becomes a Non-Complying Lender, then the following provisions shall apply for so long as such Lender is a Non-Complying Lender: 

2.11.1 fees shall cease to accrue on the unfunded portion of the Commitment of such Non-Complying Lender pursuant to
Section 2.3 [Commitment Fees]; 
 2.11.2 the Commitment and outstanding Loans of such Non-Complying Lender
shall not be included in determining whether the Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to Section 10.1 [Modifications, Amendments or
Waivers]); provided, that this clause (ii) shall not apply to the vote of a Non-Complying Lender in the case of an amendment, waiver or other modification requiring the consent of such Lender or each Lender directly affected thereby;

 2.11.3 if any Swing Loans are outstanding or any Letter of Credit Obligations exist at the time such Lender
becomes a Non-Complying Lender, then: 
 2.11.3.1 all or any part of the outstanding Swing Loans and Letter of
Credit Obligations of such Non-Complying Lender shall be reallocated among the Complying Lenders in accordance with their respective Ratable Shares but 

  
 - 4 -

 
only to the extent that (x) the Revolving Facility Usage does not exceed the total of all Complying Lenders’ Revolving Credit Commitments, and (y) no Potential Default or Event of
Default has occurred and is continuing at such time; 
 2.11.3.2 if the reallocation described in
Section 2.11.3.1 above cannot, or can only partially, be effected, the Borrowers shall within one (1) Business Day following notice by the Administrative Agent (x) first, prepay such outstanding Swing Loans, and
(y) second, cash collateralize for the benefit of the Issuing Lender the Borrowers’ obligations corresponding to such Non-Complying Lender’s Letter of Credit Obligations (after giving effect to any partial reallocation pursuant
to Section 2.11.3.1 above) in a deposit account held at the Administrative Agent for so long as such Letter of Credit Obligations are outstanding; 
 2.11.3.3 if the Borrowers cash collateralize any portion of such Non-Complying Lender’s Letter of Credit Obligations pursuant to Section 2.11.3.2 above, the Borrowers shall not be required
to pay any fees to such Non-Complying Lender pursuant to Section 2.10.2 [Letter of Credit Fees] with respect to such Non-Complying Lender’s Letter of Credit Obligations during the period such Non-Complying Lender’s Letter of Credit
Obligations are cash collateralized; 
 2.11.3.4 if the Letter of Credit Obligations of the Complying Lenders
are reallocated pursuant to Section 2.11.3.1 above, then the fees payable to the Lenders pursuant to Section 2.10.2 shall be adjusted in accordance with such Complying Lenders’ respective Ratable Shares; and 

2.11.3.5 if all or any portion of such Non-Complying Lender’s Letter of Credit Obligations are neither reallocated
nor cash collateralized pursuant to Section 2.11.3.1 or 2.11.3.2 above, then, without prejudice to any rights or remedies of the Issuing Lender or any other Lender hereunder, all Letter of Credit Fees payable under Section 2.10.2
with respect to such Non-Complying Lender’s Letter of Credit Obligations shall be payable to the Issuing Lender (and not to such Non-Complying Lender) until and to the extent that such Letter of Credit Obligations are reallocated and/or cash
collateralized; and 
 2.11.4 so long as such Lender is a Non-Complying Lender, PNC Bank shall not be required
to fund any Swing Loans and the Issuing Lender shall not be required to issue, amend or increase any Letter of Credit, unless such Issuing Lender is satisfied that the 

  
 - 5 -

 
related exposure and the Non-Complying Lender’s then-outstanding Letter of Credit Obligations will be 100% covered by the Revolving Credit Commitments of the Complying Lenders and/or cash
collateral will be provided by the Borrowers in accordance with Section 2.11.3, and participating interests in any newly made Swing Loan or any newly issued or increased Letter of Credit shall be allocated among Complying Lenders in a manner
consistent with Section 2.11.3.1 (and such Non-Complying Lender shall not participate therein). 
 If
(i) a Bankruptcy Event with respect to a parent company of any Lender shall occur following the date hereof and for so long as such event shall continue, or (ii) PNC Bank or the Issuing Lender has a good faith belief that any Lender has
defaulted in fulfilling its obligations under one or more other agreements in which such Lender commits to extend credit, PNC Bank shall not be required to fund any Swing Loan and the Issuing Lender shall not be required to issue, amend or increase
any Letter of Credit, unless PNC Bank or the Issuing Lender, as the case may be, shall have entered into arrangements with the Borrowers or such Lender, satisfactory to PNC Bank or the Issuing Lender, as the case may be, to defease any risk to it in
respect of such Lender hereunder. 
 In the event that the Administrative Agent, the Borrowers, PNC Bank and the
Issuing Lender agree in writing that a Non-Complying Lender has adequately remedied all matters that caused such Lender to be a Non-Complying Lender, then the Administrative Agent will so notify the parties hereto, and the Ratable Share of the Swing
Loans and Letter of Credit Obligations of the Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment, and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than Swing Loans)
as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Ratable Share. 
 5. Schedule 1.1(A) to the Credit Agreement is hereby deleted in its entirety and in its stead is inserted Schedule 1.1(A) attached hereto. 

6. The provisions of Sections 2 through 5 of this Fifth Amendment shall not become effective until the Administrative Agent has received
the following items, each in form and substance acceptable to the Administrative Agent and its counsel: 
 (a)
this Fifth Amendment, duly executed by each of the Loan Parties and the Lenders; 

  
 - 6 -

 (b) payment of all fees and expenses owed to the Lenders, the Administrative
Agent, and the Administrative Agent’s counsel in connection with this Fifth Amendment; and 
 (c) such
other documents as may be reasonably requested by the Administrative Agent. 
 7. Each Loan Party hereby reconfirms and
reaffirms all representations and warranties, agreements and covenants made by it pursuant to the terms and conditions of the Credit Agreement, except as such representations and warranties, agreements and covenants may have heretofore been amended,
modified or waived in writing in accordance with the Credit Agreement. 
 8. Each Loan Party acknowledges and agrees that each
and every document, instrument or agreement, which at any time has secured the Obligations including, without limitation, the Guaranty Agreements, hereby continues to secure the Obligations. 

9. Each Loan Party hereby represents and warrants to the Lenders and the Administrative Agent that (i) such Loan Party has the legal
power and authority to execute and deliver this Fifth Amendment, (ii) the officers of such Loan Party executing this Fifth Amendment have been duly authorized to execute and deliver the same and bind such Loan Party with respect to the
provisions hereof, (iii) the execution and delivery hereof by such Loan Party and the performance and observance by such Loan Party of the provisions hereof and of the Credit Agreement and all documents executed or to be executed in connection
herewith or therewith, do not violate or conflict with the organizational agreements of such Loan Party or any law applicable to such Loan Party or result in a breach of any provision of or constitute a default under any other agreement, instrument
or document binding upon or enforceable against such Loan Party, and (iv) this Fifth Amendment, the Credit Agreement and the documents executed or to be executed by such Loan Party in connection herewith or therewith constitute valid and
binding obligations of such Loan Party in every respect, enforceable in accordance with their respective terms. 
 10. Each Loan
Party represents and warrants that (i) no Event of Default exists under the Credit Agreement, nor will any occur as a result of the execution and delivery of this Fifth Amendment or the performance or observance of any provision hereof,
(ii) the schedules attached to and made a part of the Credit Agreement, are true and correct in all material respects as of the date hereof, except as such schedules may have heretofore been amended or modified or updated in writing in
accordance with the Credit Agreement, and (iii) it presently has no known claims or actions of any kind at law or in equity against any Lender or the Administrative Agent arising out of or in any way relating to the Credit Agreement or the
other Loan Documents. 
 11. Each reference to the Credit Agreement that is made in the Credit Agreement or any other document
executed or to be executed in connection therewith shall hereafter be construed as a reference to the Credit Agreement as amended hereby. 

  
 - 7 -

 12. The agreements contained in this Fifth Amendment are limited to the specific agreements
made herein. Except as amended hereby, all of the terms and conditions of the Credit Agreement and the other Loan Documents shall remain in full force and effect. This Fifth Amendment amends the Credit Agreement and is not a novation thereof.

 13. This Fifth Amendment may be executed in any number of counterparts and by the different parties hereto on separate
counterparts each of which, when so executed, shall be deemed to be an original, but all such counterparts shall constitute but one and the same instrument. 
 14. This Fifth Amendment shall be governed by, and shall be construed and enforced in accordance with, the Laws of the Commonwealth of Pennsylvania without regard to the principles of the conflicts of law
thereof. Each Loan Party hereby consents to the jurisdiction and venue of the Court of Common Pleas of Allegheny County, Pennsylvania and the United States District Court for the Western District of Pennsylvania with respect to any suit arising out
of or mentioning this Fifth Amendment. 
 [INTENTIONALLY LEFT BLANK] 

  
 - 8 -

 IN WITNESS WHEREOF, and intending to be legally bound, the parties hereto have caused this
Fifth Amendment to be duly executed by their duly authorized officers the day and year first above written. 
  

							
		 		 	BORROWERS:
			
	 WITNESS:
	 		 	ATI FUNDING CORPORATION
				
	 /s/ Jason R. Suslak
	 		 	By:	 	/s/ Rose Marie Manley
		 		 	Name:	 	Rose Marie Manley
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	TDY HOLDINGS, LLC
				
	 /s/ Jason R. Suslak
	 		 	By:	 	/s/ Rose Marie Manley
		 		 	Name:	 	Rose Marie Manley
		 		 	Title:	 	President
			
		 		 	GUARANTORS:
			
	 WITNESS:
	 		 	ALLEGHENY TECHNOLOGIES INCORPORATED
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	Executive Vice President
			
	 WITNESS:
	 		 	ATI OPERATING HOLDINGS, LLC
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	 OREGON METALLURGICAL, LLC
 (formerly known as “OREGON
 METALLURGICAL CORPORATION”)

				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President

							
	 WITNESS:
	 		 	 ALLEGHENY LUDLUM, LLC (formerly
 known as “ALLEGHENY LUDLUM
 CORPORATION”)

				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	Executive Vice President
			
	 WITNESS:
	 		 	ATI PROPERTIES, INC.
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Patrick J. Viccaro
		 		 	Name:	 	Patrick J. Viccaro
		 		 	Title:	 	Vice President
			
	 WITNESS:
	 		 	 TDY INDUSTRIES, LLC (formerly known as
 “TDY INDUSTRIES, INC.”)

				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	ALC FUNDING CORPORATION
				
	 /s/ Jason R. Suslak
	 		 	By:	 	/s/ Rose Marie Manley
		 		 	Name:	 	Rose Marie Manley
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	JEWEL ACQUISITION, LLC
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	JESSOP STEEL, LLC
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President

							
	 WITNESS:
	 		 	INTERNATIONAL HEARTH MELTING, LLC
				
		 		 	By:	 	 OREGON METALLURGICAL, LLC, its

Sole Manager

				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	 ATI PRECISION FINISHING, LLC (formerly
 known as “ROME METALS, LLC”)

				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	Executive Vice President
			
	 WITNESS:
	 		 	TI OREGON, INC.
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	TITANIUM WIRE CORPORATION
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	ATI CANADA HOLDINGS, INC.
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President

							
	 WITNESS:
	 		 	 ALLEGHENY TECHNOLOGIES
 INTERNATIONAL, INC.

				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	AII INVESTMENT CORP.
				
	 /s/ Jason R. Suslak
	 		 	By:	 	/s/ Rose Marie Manley
		 		 	Name:	 	Rose Marie Manley
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	ENVIRONMENTAL, INC.
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	AII ACQUISITION, LLC
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President
			
	 WITNESS:
	 		 	ATI TITANIUM LLC
				
	 /s/ M. P. Earnest
	 		 	By:	 	/s/ Dale G. Reid
		 		 	Name:	 	Dale G. Reid
		 		 	Title:	 	President

  

			
	 AGENTS AND LENDERS: 
  

PNC BANK, NATIONAL ASSOCIATION, as
 a Lender and
as Administrative Agent

		
	By:	 	/s/ Susan J. Dimmick
	Name:	 	Susan J. Dimmick
	Title:	 	Senior Vice President

  

			
	CITIBANK, N.A., as a Lender and as Co-Syndication Agent
		
	By:	 	/s/ Irina Lurye
	Name:	 	Irina Lurye
	Title:	 	Vice President

  

			
	 JPMORGAN CHASE BANK, N.A., as a
 Lender and as Co-Syndication Agent

		
	By:	 	/s/ Peter S. Predun
	Name:	 	Peter S. Predun
	Title:	 	Executive Director

  

			
	 BANK OF AMERICA N.A., for itself, as a
 Lender and as Co-Documentation Agent, and
 as successor by merger to LASALLE BANK

NATIONAL ASSOCIATION, as a Lender

		
	By:	 	/s/ James B. Meanor II
	Name:	 	James B. Meanor II
	Title:	 	Director

 
			
	 THE BANK OF TOKYO-MITSUBISHI UFJ,
 LTD., as a Lender and as Co-Documentation Agent

		
	By:	 	/s/ Joanne Nasuti
	Name:	 	Joanne Nasuti
	Title:	 	Vice President

  

			
	 CREDIT SUISSE AG, CAYMAN ISLANDS
 BRANCH, as a Lender and as a Co-Managing Agent

		
	By:	 	/s/ Alain Doust
	Name:	 	Alain Doust
	Title:	 	Director

  

			
		
	By:	 	/s/ Rahul Parmar
	Name:	 	Rahul Parmar
	Title:	 	Associate

  

			
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as a Lender and as Co-Managing Agent

		
	By:	 	/s/ James Travagline
	Name:	 	James Travagline
	Title:	 	Director

  

			
	 THE BANK OF NEW YORK, as a Lender and
 as Co-Managing Agent

		
	By:	 	/s/ William M. Feathers
	Name:	 	William M. Feathers
	Title:	 	Vice President

 
			
	MORGAN STANLEY BANK, N.A., as a Lender
		
	By:	 	/s/ Michael King
	Name:	 	Michael King
	Title:	 	Authorized Signatory

  

			
	 HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender

		
	By:	 	/s/ Christopher S. Helmeci
	Name:	 	Christopher S. Helmeci
	Title:	 	Senior Relationship Manager

 SCHEDULE 1.1(A) 

PRICING GRID— 
 VARIABLE PRICING AND FEES BASED ON LEVERAGE RATIO 
 (PRICING EXPRESSED IN
BASIS POINTS) 
  

											
	 Level
	 	 Leverage Ratio
	 	 Commitment

Fee
	  	Letter of
Credit Fee	  	Revolving
Credit Base
Rate Spread	  	Revolving
Credit
LIBOR Rate
Spread
	 I
	 	Less than or equal to 1.0 to 1.0	 	15.0	  	100.0	  	0.0	  	100.0
						
	 II
	 	Greater than 1.0 to 1.0 but less than or equal to 1.5 to 1.0	 	17.5	  	125.0	  	25.0	  	125.0
						
	 III
	 	Greater than 1.5 to 1.0 but less than or equal to 2.0 to 1.0	 	20.0	  	150.0	  	50.0	  	150.0
						
	 IV
	 	Greater than 2.0 to 1.0	 	25.0	  	175.0	  	75.0	  	175.0

 For purposes of determining the Applicable Margin, the Applicable Commitment Fee Rate and the Applicable
Letter of Credit Fee Rate: 
 (a) The Applicable Margin, the Applicable Commitment Fee Rate and the Applicable Letter of Credit
Fee Rate shall be based on Level III of the Pricing Grid above as of the Fifth Amendment Closing Date. 
 (b) The Applicable
Margin, the Applicable Commitment Fee Rate and the Applicable Letter of Credit Fee Rate shall be recomputed as of the end of each fiscal quarter ending after the Fifth Amendment Closing Date based on the Leverage Ratio as of such quarter end. Any
increase or decrease in the Applicable Margin, the Applicable Commitment Fee Rate or the Applicable Letter of Credit Fee Rate computed as of a quarter end shall be effective on the date on which the Compliance Certificate evidencing such computation
is due to be delivered under Section 7.3.3 [Compliance Certificate]. 
 (c) If, as a result of any restatement of or other
adjustment to the financial statements of ATI or for any other reason, ATI or the Lenders determine that (i) the Leverage Ratio as calculated by ATI as of any applicable date was inaccurate and (ii) a proper calculation of the Leverage
Ratio would have resulted in higher pricing for such period, the Borrowers shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders, promptly on demand by the Administrative Agent
(or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrowers 

  
 SCHEDULE
1.1(A)-1 

 
under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the Issuing Lender), an amount equal to the excess of the
amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender or the Issuing Lender, as
the case may be, under Section 2.10 [Letter of Credit Subfacility] or 3.3 [Interest After Default] or 8 [Default]. The Borrowers’ obligations under this paragraph shall survive the termination of the Commitments and the repayment of all
other Obligations hereunder. 

  
 SCHEDULE
1.1(A)-2EX-10.2

 Exhibit 10.2 

 
 

 
 The Annual Incentive Plan 

For Year 2012 

					
	 Contents
	  	Page	 
	 At a Glance
	  	 	1	  
	 What is the Annual Incentive Plan?
	  	 	1	  
	 Who is Eligible for This Plan?
	  	 	1	  
	 How Does the Annual Incentive Plan Work?
	  	 	1	  
		
	 Calculation of the Annual Incentive Plan Award
	  	 	2	  
	 Target Bonus Percentage
	  	 	2	  
	 2012 Performance Goals
	  	 	3	  
		
	 How the AIP Incentive Award is Calculated When All Goals
	  	 	4	  
	 Are 100% Achieved
	  			
		
	 How the AIP Incentive Award is Calculated for Other Achievement Levels
	  	 	5	  
	 Maximums and Minimums
	  	 	5	  
		
	 Additional Guidelines for the Annual Incentive Plan
	  	 	6	  
	 Adjustments
	  	 	6	  
	 Some Special Circumstances
	  	 	6	  
	 Making Payments
	  	 	6	  
		
	 Administration Details
	  	 	7	  

 At a Glance 
 What is the Annual Incentive Plan? 
 The Annual Incentive Plan (the “AIP” or the
“Plan”) provides participants of Allegheny Technologies Incorporated (“Allegheny Technologies” or the “Company”) and its operating companies with the opportunity to earn an incentive award when certain pre-established
goals are met at the corporate and operating company levels. 
 Who is Eligible for This Plan? 

Generally, participants who have a significant impact on the Company’s operations will be eligible to participate in the Plan. Individuals eligible
for participation are determined annually, based on recommendations of the operating company presidents, if applicable, and the Company’s chief executive officer and the Company’s vice president, human resources, with the approval
of the Personnel and Compensation Committee of the Company’s Board of Directors. 
 How Does the Annual Incentive Plan Work?

 Under the Plan, participants may earn an incentive award based on a percentage of their base salary, depending on the extent to which
pre-established operating company and/or corporate performance goals have been achieved. 
  

	•	 	 For purposes of the Plan, base salary is generally the participant’s annual base salary rate as of the end of the year, excluding any commission
or other incentive pay. For some special circumstances affecting the amount of base salary used in the Plan, see page 6. 

  

	•	 	 A target bonus percentage for each participant is used in calculating the incentive award and is explained on page 2. 

 

	•	 	 The bonus percentage will be adjusted (upward or downward) based on the extent to which various performance goals are achieved.

 Incentive award payments will be distributed in cash after the year-end audit is complete and the awards have been approved
by the Personnel and Compensation Committee. 

  
 Page 1

 Calculation of the Annual Incentive Plan Award 

Target Bonus Percentage 
 The Plan
establishes an incentive opportunity for each Plan participant, calculated as a percentage of the participant’s base salary. Each participant will be provided with an initial percentage, referred to as a “target bonus percentage.”

 Generally, the target bonus percentage is the percentage of base salary that can be earned as an award under the Plan if 100% of the various
performance goals are achieved. For 2012, if 100% of the performance goals are achieved, 100% of the target bonus percentage can be earned. 

Generally, if there is a change in a participant’s target bonus percentage during the year, the newly adjusted target bonus percentage will be used
to calculate the individual’s award for the full year. If an individual becomes a participant in AIP during the year, the individual’s award for the year will be based on a pro rata calculation. 

For business unit presidents who are members of the Corporate Executive Committee, 65% of the goals’ overall weight will be based on the performance
of the business unit president’s operating company, and 35% of the goals’ overall weight will be based on corporate-wide performance. 

At the end of the year, the Company will measure actual performance against each of the pre-established objectives. 

The achievements attributable to each performance goal as noted above, then will be added together, and that sum will be multiplied by: 

 

													
	 Base Salary

as of

December 31, 2012
	 	X	 	 Target Annual
 Incentive Percentage
	 	X	 	 Performance
 Achievement
 (0-200%)
	 	=	 	 2012 Annual
 Incentive Payout
 ($)

  
 Page 2

 2012 Performance Goals 
 For 2012, AIP awards will be measured based on a weighted formula that takes into account several different factors as measurable indices of performance, as indicated in the pie chart below. 

 
 

 
 Targeted achievements as to each performance goal above have been established for each operating company and for
corporate participants. Together the above goals comprise 100% of the target bonus percentage. 
 No annual incentive will be paid if the
achievement of Operating Earnings is less than the established applicable minimum of Operating Earnings, notwithstanding the achievements as to the other applicable performance goals for 2012. 

A prerequisite to any AIP award is compliance with ATI’s Corporate Guidelines for Business Conduct and Ethics.

  
 Page 3

 How the AIP Incentive Award is Calculated When All Goals are 100% Achieved 

For the Year 2012, if 100% of the performance goals are achieved, then 100% of the target bonus percentage will be credited to the participant:

  

													
	 Goals
	  	Goal % Target	 	 	Goal %
Achieved	 	 	Earned % of
Target *	 
	 Operating Earnings
	  	 	40	% 	 	 	100	% 	 	 	40	% 
	 Operating Cash Flow
	  	 	30	% 	 	 	100	% 	 	 	30	% 
	 Manufacturing Improvements
	  	 	10	% 	 	 	100	% 	 	 	10	% 
	 Safety and Environmental Compliance
	  	 	10	% 	 	 	100	% 	 	 	10	% 
	 Customer Responsiveness
	  	 	10	% 	 	 	100	% 	 	 	10	% 
	 TOTAL
	  	 	100	% 	 				 	 	100	% 

  

	*	Earned % of Target = Goal % of Target X Goal Achieved % 

 In this example, assume that the participant’s target bonus percentage is 15%. 
 The target
bonus percentage of 15% is then multiplied by 100% to produce a bonus award equal to 15% of base salary: 
  

									
	 Earned Percentage

of Target

100%
	 	X	 	 Target Bonus
 Percent
 15%
	 	=	 	 Percentage of
 Salary for Incentive
 Award

15%

 The sections below discuss the impact of achieving more or less than 100% of various goals, and they also discuss the
impact of other potential adjustments. 

  
 Page 4

 How the AIP Incentive Award is Calculated for Other Achievement Levels 

The percentage of a goal achieved will determine the earned percentage of target for that particular goal. The earned percentage of target will be
extrapolated for achievement between the established minimum level and the established target level for a particular goal. Similarly, the earned percentage of target will be extrapolated for achievement between the established target level and the
established maximum level for a particular goal. 
 Maximums and Minimums 

 

	•	 	 Generally, the maximum percentage calculated as an earned percentage of target for any goal is 200%, and the overall maximum incentive award that a
participant can earn under the weighting formula is 200% of the participant’s target bonus percentage. 

  

	•	 	 Where the established minimum of a performance goal is achieved, only 50% of that goal’s share will be allocated to the participant’s target
bonus percentage. 

  

	•	 	 Where less than the established minimum of a performance goal is achieved, no amount of that goal will be allocated to the participant’s target
bonus percentage. 

 No annual incentive will be paid if the achievement of Operating Earnings is less than the established
applicable minimum of Operating Earnings, notwithstanding the achievements as to the other applicable performance goals for 2012. 

  
 Page 5

 Additional Guidelines for the Annual Incentive Plan 

Adjustments 
 Under the Plan qualitative
performance factors of an individual’s performance up to +20% or –20% of an individual’s calculated award. However, generally, the sum of qualitative adjustments for all eligible participants cannot exceed +5% of the aggregate
calculated awards. 
 Some Special Circumstances 
 The above formulas generally determine the amount of the incentive award for the year. Other factors that may affect the actual award follow: 

 

	•	 	 If a participant leaves the Company due to retirement, death, or disability, an award will be calculated based on the actual base salary earned during
the year in which the participant left—so long as the participant worked at least six months of that year. 

  

	•	 	 If a participant leaves the Company before the end of the plan year for any other reason, the participant will not receive a bonus award for that year.

  

	•	 	 If a participant voluntarily leaves the Company after the end of the year but before the award is paid, the participant would receive any bonus due
unless the employment is terminated for cause. If employment is terminated for cause, the participant would not be entitled to receive an award under the Plan. 

 

	•	 	 Participant’s who are hired mid-year may earn a pro-rated award for that year, based on the salary earned during that year. However, managers with
less than two months service in a plan year (i.e. hired after October 31) would not be eligible for an award for that year. 

  

	•	 	 A prerequisite to any AIP award is compliance with ATI’s Corporate Guidelines for Business Conduct and Ethics.

 Making Payments 
 All incentive award payments will be paid in cash, less applicable withholding taxes, after the year-end audit is complete and payment has been considered and approved by the Personnel and Compensation
Committee. 

  
 Page 6

 Administration Details 
 This summary relates to the Annual Incentive Plan (AIP) of Allegheny Technologies Incorporated and its subsidiaries. The Plan is administered by the Personnel and Compensation Committee, which has full
authority to: 
  

	•	 	 Interpret the Plan; 

  

	•	 	 Designate eligible participants and categories of eligible participants; 

 

	•	 	 Set the terms and conditions of incentive awards; and 

 

	•	 	 Establish and modify administrative rules for the Plan. 

 Plan participants may obtain additional information about the plan and the Committee from: 
 Mary
Beth Moore 
 Vice President, Human Resources 
 Allegheny Technologies Incorporated 
 1000 Six PPG Place 

Pittsburgh, PA 15222-5479 
 Phone: 412-394-2935

 Fax: 412-394-3017 
 The Plan will
remain in effect until terminated by the Personnel and Compensation Committee. The Personnel and Compensation Committee may also amend the Plan at its sole discretion. 
 The Plan is not subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and is not “qualified” under Section 401(a) of the Internal Revenue Code.

  
 Page 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00203-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00203-of-00352.parquet"}]]