Document:

Unassociated Document

    Exhibit 10.9

     

    
      

       

      

       

      [Form of
Letter Agreement for Howard M. Lorber and Michael S. Liebowitz]

       

       

      

       

      [  ],
2008

       

      Open
Acquisition Corp.

      70 East
Sunrise Highway, Suite 411

      Valley
Stream, New York 11581

       

      Deutsche
Bank Securities Inc.

      As
Representative of the several Underwriters

      c/o
Deutsche Bank Securities Inc.

      60 Wall
Street, 4th Floor

      New York,
New York 10005

       

      Re:  Initial Public Offering of
Open Acquisition Corp.

       

      Ladies
and Gentlemen:

       

      This
letter is being delivered to you in accordance with the Underwriting Agreement
dated as of [  ], 2008 (the “Underwriting
Agreement”), by and between Open Acquisition Corp., a Delaware
corporation (the “Company”), and
Deutsche Bank Securities Inc. (“Deutsche Bank”), as
representative of the underwriters named in Schedule I thereto (the “Underwriters”),
relating to an underwritten initial public offering (the “Initial Public
Offering”) of the Company’s units (the “Units”), each
consisting of one share of the Company’s common stock, par value $0.0001 per
share (the “Common
Stock”), and one warrant (a “Warrant”) entitling
the holder thereof to purchase one share of Common Stock.

       

      Open Acq
LLC (the “Sponsor”) has
purchased from the Company (i) 3,593,750 Units (the “Founder Units”)
pursuant to a Unit Subscription Agreement dated as of January 18, 2008, and (ii)
3,500,000 Warrants (the “Insider Warrants”)
pursuant to an Insider Warrant Purchase Agreement dated as of January 18,
2008.  The terms of the Warrants are set forth in the Warrant
Agreement dated as of [  ], 2008, as amended (the “Warrant Agreement”),
by and between the Company and Continental Stock Transfer & Trust
Company.  On [  ], 2008, the Sponsor transferred
[  ] shares of Common Stock included in the Founder Units to certain
officers and directors of the Company and other related parties.

       

      In order
to induce the Company and the Underwriters to enter into the Underwriting
Agreement and to proceed with the Initial Public Offering, and in recognition of
the benefit that such Initial Public Offering will confer upon the undersigned
as an officer or director of the Company, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
undersigned hereby agrees with the Company as follows:

       

      1.           Approval of Business
Combination or Extension Period.  The undersigned agrees that
(i) in connection with any vote of the stockholders of the Company on (a) a
proposed extension of the time period within which the Company must consummate a
Business Combination (as defined in the Company’s Amended and Restated
Certificate of Incorporation in effect on the date hereof (the “Certificate of
Incorporation”)) to up to 30 months or (b) a proposed Business
Combination, he will vote any shares of Common Stock included in (or that were
previously part of) the Founder Units that are owned directly or indirectly by
him in accordance with the majority of votes cast by the holders of shares of
Common Stock included in the Units issued in the Initial Public Offering (the
“IPO Shares”),
and (ii) in connection with a stockholder vote to approve a proposed Business
Combination, he will vote any such shares in favor of an amendment to the
Certificate of Incorporation providing for the Company’s perpetual existence
following the consummation of the Business Combination.

       

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      2.           Liquidation; Waiver of
Claims.  a) In the event that the Company fails to consummate a
Business Combination within 24 months (or up to 30 months if the public
stockholders approve an extension pursuant to the terms of the Certificate of
Incorporation) after the date of the final prospectus included in the
Registration Statement on Form S-1 relating to the Initial Public Offering (the
“Registration
Statement”), the undersigned will take all reasonable actions within his
power to (i) cause the Trust Account (as defined in the Certificate of
Incorporation) to be liquidated and the proceeds to be distributed to the
holders of the IPO Shares as soon as reasonably practicable and (ii) cause the
Company to liquidate as soon as reasonably practicable (the earliest date on
which the conditions in clauses (i) and (ii) are both satisfied being the “Liquidation Date”),
in each case in accordance with the terms of the Certificate of Incorporation
and all applicable laws.

       

      (b)           The
undersigned hereby waives any and all right, title, interest or claim of any
kind in or to any distributions of the Trust Account as a result of such
liquidation of the Company with respect to any shares of Common Stock included
in (or that were previously part of) the Founder Units that are owned directly
or indirectly by him.  In addition, the undersigned hereby waives any
right, title, interest or claim of any kind in respect of any monies in the
Trust Account the undersigned may have in the future as a result of, or arising
out of, any contracts or agreements with the Company and will not seek recourse
or make any claim against the Trust Account for any reason
whatsoever.

       

      (c)           The
undersigned acknowledges and agrees that there will be no distribution from the
Trust Account with respect to any Warrants, all rights of which will terminate
on the Company’s liquidation.

       

      3.           Indemnification.  The
undersigned agrees to indemnify and hold harmless the Company against any and
all loss, liability, claim, damage and expense whatsoever (including, but not
limited to, any and all legal or other expenses reasonably incurred in
investigating, preparing or defending against any litigation, whether pending or
threatened, or any claim whatsoever) which the Company may become subject to as
a result of any claim by any vendor, service provider or prospective target
business, including, but not limited to, accountants, lawyers and investment
bankers, or other individual or entity that is owed money by the Company for
services rendered or products sold but only to the extent necessary to ensure
that such loss, liability, claim, damage or expense does not reduce the amount
in the Trust Account.  In the event the Company obtains a valid and
enforceable waiver of any right, title, interest or claim of any kind in or to
any monies held in the Trust Account for the benefit of our stockholders from a
vendor, service provider, prospective target business or other entity, this
indemnification will not be available.

       

       

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      4.           Transfer
Restrictions.  The undersigned will not assign, alienate,
pledge, attach, sell or otherwise transfer or encumber (each, a “Transfer”), directly
or indirectly, any Founder Units or any shares of Common Stock or Warrants
included in (or that were previously part of) the Founder Units (including the
Common Stock issuable upon exercise of such Warrants) that he currently owns or
may acquire hereafter from the date hereof until 180 days following the date of
the consummation of a Business Combination, except to a Permitted
Transferee.  Any Transfer of such securities to a Permitted Transferee
will be made in accordance with applicable securities laws.  Any
Transfer of securities pursuant to this Paragraph 4 after the date hereof shall
be subject to the condition that the Permitted Transferee shall have agreed in
writing to be bound by the terms of Paragraphs 1, 2, 4, 9 and 10
hereof.

       

      “Permitted Transferee”
means (i) the Company, any of the Company’s officers, directors and employees,
or Family Members of such individuals, (ii) in the case of individuals, by gift
to the individual’s Family Member or to a trust, the beneficiary of which is the
individual’s Family Member, (iii) any individual pursuant to a qualified
domestic relations order, (iv) if the transferor is a limited liability company,
any stockholder, partner or member of the transferor and (v) any individual or
entity by virtue of laws or agreements governing descent or distribution upon
the death or dissolution of the transferor.  “Affiliate” has the
meaning set forth in Rule 405 under the Securities Act of 1933, as amended and
in effect on the date hereof (the “Securities
Act”).  “Family Member” of a
person means such person’s present spouse and/or domestic partner, parents,
lineal ascendants or descendants or any siblings of any of the foregoing, or any
estate planning vehicle formed primarily for the benefit of such person or any
of the foregoing persons.

       

      5.           Limitation on
Compensation.  b) Neither the undersigned nor any Family Member
or Affiliate of the undersigned will be entitled to receive, and no such person
will accept, a finder’s fee, consulting fee or any other compensation from the
Company for services rendered to the Company prior to or in connection with the
consummation of a Business Combination, other than (i) reimbursement for any
out-of-pocket expenses relating to the Initial Public Offering, the performance
of his duties as an officer or director and identifying, investigating and
consummating a Business Combination, (ii) by virtue of ownership of Founder
Units, Insider Warrants or any securities included in or issuable upon exercise
of such securities and (iii) pursuant to the letter agreement dated as of the
date hereof, between the Company and Open Acq, LLC, relating to the provision of
administrative services to the Company.

       

      (b)           Neither
the undersigned nor any Family Member or Affiliate of the undersigned will
accept a finder’s fee, consulting fee or any other compensation (other than by
virtue of ownership of Founder Units, Insider Warrants or any securities
included in or issuable upon exercise of such securities) or fees from any other
entity in connection with a Business Combination, other than compensation or
fees that may be received for any services provided following such Business
Combination.

       

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

      6.           Due
Diligence.  The undersigned authorizes any employer, financial
institution, or consumer credit reporting agency to release to the
Representatives and its legal representatives or agents (including any
investigative search firm retained by the Representatives) any information they
may have about the undersigned’s background and finances (“Information”), purely
for the purposes of the Company’s Initial Public Offering (and shall thereafter
hold such Information confidential).  Neither the Representative nor
its agents shall be violating the undersigned’s right of privacy in any manner
in requesting and obtaining the Information and the undersigned hereby releases
them from liability for any damage whatsoever in that connection.

       

      7.           Resignation/Termination.  The
undersigned agrees not to resign as [Chairman of the Board of
Directors][President, Chief Executive Officer, Secretary, Treasurer and
Director] until the earlier of the consummation by the Company of a Business
Combination or the Liquidation Date without the unanimous consent of the
Company’s independent directors.  The undersigned acknowledges that
the foregoing does not limit in any way the right of the Company to terminate
the undersigned’s employment at any time, subject to any other contractual
rights the undersigned may have.

       

      8.           Representations and
Warranties.  The undersigned represents and warrants
that:

       

      (a)           Except
as described in the Registration Statement, there are no claims, payments,
arrangements, contracts, agreements or understandings relating to the payment of
a brokerage commission or finder’s, consulting, origination or similar fee by
the undersigned with respect to the sale of the securities pursuant to the
Underwriting Agreement or any other arrangements, agreements or understandings
by the undersigned that may affect the Underwriters’ compensation pursuant to
the Underwriting Agreement;

       

      (b)           He
is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act
or practice relating to the offering of securities in any
jurisdiction;

       

      (c)           He
has never been convicted of or pleaded guilty to any crime (i) involving any
fraud or (ii) relating to any financial transaction or handling of funds of
another person or (iii) pertaining to any dealings in any securities and the
undersigned is not currently a defendant in any such criminal
proceeding;

       

      (d)           He
has never been suspended or expelled from membership in any securities or
commodities exchange or association or had a securities or commodities license
or registrations denied, suspended or revoked;

       

      (e)           He
has full right and power, without violating any agreement by which he is bound,
to enter into this letter agreement and to serve as [Chairman of the Board of
Directors][President, Chief Executive Officer, Secretary, Treasurer and
Director];

       

      (f)           He
is an “accredited investor” as that term is defined in Rule 501 of Regulation D
promulgated under the Securities Act;

       

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      (g)           The
undersigned’s biographical information furnished to the Company and attached
hereto as Exhibit A is true and accurate in all material respects, does not omit
any material information with respect to the undersigned’s background and
contains all of the material information required to be disclosed pursuant to
Section 401 of Regulation S-K, promulgated under the Securities Act;
and

       

      (h)           The
undersigned’s questionnaires furnished to the Company and the Underwriters and
attached hereto as Exhibit B are true and accurate in all material
respects.

       

      9.           No
Amendments.  The undersigned agrees that he will not propose
any amendment to Articles II, V or VI of the Certificate of Incorporation or
support, endorse or recommend any proposal that stockholders amend such
provisions, other than in connection with a proposed Business Combination or a
proposed extension of the time period within which the Company must consummate a
Business Combination to up to 30 months, without the affirmative vote of at
least 95% of the IPO Shares.

       

      10.           Miscellaneous.  c)
The undersigned acknowledges and understands that the Company and the
Underwriters will rely upon the agreements, representations and warranties set
forth herein in proceeding with the Initial Public Offering.  Nothing
contained herein shall be deemed to render the Underwriters a representative of,
or a fiduciary with respect to, the Company, its stockholders, or any creditor
or vendor of the Company with respect to the subject matter hereof.

       

      (b)           This
letter agreement shall be binding on the undersigned and such person’s
successors and assigns.  This letter agreement shall terminate on the
earlier of (i) the consummation of a Business Combination and (ii) the
Liquidation Date; provided that such
termination shall not relieve the undersigned from liability for any breach of
this letter agreement that occurred prior to its termination, and provided
further that paragraph 2 of this letter agreement shall survive a termination
pursuant to clause (ii).

       

      (c)           This
letter agreement constitutes the entire agreement and understanding between the
parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings (whether written or oral) between the parties
relating to such subject matter.  None of the parties shall be liable
or bound to any other party in any manner by any representations and warranties
or covenants relating to such subject matter except as specifically set forth
herein.

       

      (d)           This
letter agreement shall be governed by and construed in accordance with the laws
of the State of New York, without regard to the principles of conflicts of laws
thereof.

       

      (e)           No
term or provision of this letter agreement may be amended, changed, waived,
altered or modified except by written instrument executed and delivered by the
party against whom such amendment, change, waiver, alteration or modification is
to be enforced.

       

      [Signature
page follows]

       

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

       

      
        
          	 
      
	
                  Name:

                
	
                  Title: 

                
	 
      
	 
      
	
                  Accepted
      and agreed:

                
	 
      
	
                  OPEN
      ACQUISITION CORP.

                
	 
      
	 
      
	 
      
	
                  By:

                	 
      
	 
      	
                  Name:

                
	 
      	
                  Title:

                
	 
      
	 
      
	
                  Accepted
      and agreed:

                
	 
      
	
                  DEUTSCHE
      BANK SECURITIES INC.

                
	 
      
	 
      
	
                  By:

                	 
      
	 
      	
                  Name:

                
	 
      	
                  Title:

                
	 
      
	
                  By:

                	 
      
	 
      	
                  Name:

                
	 
      	
                  Title:

                

        

        

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Exhibit
A

       

      [Biographical
Information Furnished to the Company]

       

       

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Exhibit
B

       

      [Questionnaires
Furnished to the Company and the Underwriters]annualincentiveplan.htm

    Exhibit
10.1

    Century
Aluminum Company

    
      Annual
Incentive
Plan

      (Amended
and Restated Effective January 1, 2008)

       

      PREAMBLE: This is an amendment
and restatement of the Century Aluminum Amended and Restated Incentive
Compensation Plan adopted November 28, 2001 (and subsequently amended and
restated), to be effective January 1, 2008 with respect to Awards for the
calendar year 2008 and thereafter.

       

      
        	
                1.  

              	
                NAME

              

      

       

      The name
of this Plan is the Annual Incentive Plan of Century Aluminum Company and its
Subsidiaries (the “AIP”).

       

      
        	
                2.  

              	
                PURPOSE

              

      

       

      The
purpose of the AIP is to motivate, through Awards payable in accordance with the
provisions hereof, senior-level employees of the Company and its Subsidiaries
who occupy key executive positions and who have contributed, or can contribute,
to the growth and profitability of the Company and its
Subsidiaries.

       

      
        	
                3.  

              	
                DEFINITIONS

              

      

       

      “Award”
or “Awards” shall mean Target Award(s) and Participant Award(s)
hereunder.

       

      “Board”
shall mean the Board of Directors of the Company.

       

      “Committee”
shall mean the Compensation Committee of the Board.

       

      “Company”
shall mean Century Aluminum Company.

       

      “Disability”
shall mean permanent and total disability as defined in Section 22(e)(3) of the
Internal Revenue Code of 1986, as amended.

       

      “Participant”
shall mean any full-time or part-time salaried employee of the Company or of a
Subsidiary who is selected by the Committee to receive an Award under the
AIP.

       

      “Participant
Award” shall have the meaning set forth in Section 5.A.

       

      “Plan
Year” shall mean each year in and with respect to which Awards are granted
hereunder.

       

      “Retirement”
shall mean termination of employment on or after the attainment of “normal
retirement age” as defined under the Company’s Employees Retirement Plan as in
effect at such time.

       

      “Subsidiary”
shall mean any corporation or other entity, or any partnership or other
enterprise, the voting stock or other form of equity of which, as the case may
be, is owned or controlled 50% or more, directly or indirectly, by the
Company.

       

      “Target
Award” shall have the meaning set forth in Section 4.B.

       

      “Termination
Other than for Cause” shall mean termination of a Participant's employment by
the Company or a Subsidiary other than for Cause and expressly excludes
voluntary termination by a Participant.  Termination for Cause shall
mean termination due to the Participant’s (i) commission of an act of theft,
embezzlement, fraud, or dishonesty, (ii) breach of fiduciary duty to the Company
or a Subsidiary, or (iii) failure to perform the material duties of the
Participant’s employment, other than due to death or Disability, which failure
continues after written notice and a reasonable opportunity to
cure.

       

      
        	
                4.  

              	
                APPROVAL
      OF AWARD TERMS

              

      

       

      During
the first quarter of each Plan Year (or during such other time period as may be
determined by the Committee) the Committee, in its discretion, shall, based on
the recommendations of the Chief Executive Officer, and in consultation with the
Chief Executive Officer, determine the following with respect to such Plan
Year:

       

      
        	
                A.  

              	
                The
      list of Participants eligible to participate in the AIP for the given Plan
      Year;

              

      

       

      
        	
                B.  

              	
                The
      Target Award (defined as a percentage of salary) for each of such
      Participants;

              

      

       

      
        	
                C.  

              	
                Performance
      measures to be used for the given Plan Year, which shall consist
      of:

              

      

       

      
        	
                (i)  

              	
                Operating
      measures (comprised of operating income, conversion cost, safety
      performance and such other parameters as may be determined by the
      Committee based on recommendations from, and in consultation with, the
      Chief Executive Officer);

              

      

       

      
        	
                (ii)  

              	
                Strategic
      performance measures;

              

      

       

      
        	
                (iii)  

              	
                Individual
      performance measures; and

              

      

       

      
        	
                (iv)  

              	
                Such
      other performance measures as may be determined by the Committee in its
      discretion, based on recommendations from, and in consultation with, the
      Chief Executive Officer, to be of
      material importance to the growth and profitability of the
      Company;

              

      

       

      
        	
                D.  

              	
                Weighting
      of performance measures used in the AIP for the given Plan Year, as set
      forth in Annex A, as the same may from time to time be amended by the
      Committee in its discretion, based on recommendations from, and in
      consultation with, the Chief Executive Officer, and also the Committee’s
      independent analysis; and

              

      

       

      
        	
                E.  

              	
                The
      following additional elements:

              

      

       

      
        	
                (i)  

              	
                With
      respect to performance measures that warrant numerical goals, the
      Committee shall approve goals and associated payments at each of
      threshold, target and outstanding
levels;

              

      

       

      
        	
                (ii)  

              	
                With
      respect to strategic performance measures, high level goals will be
      described by the Committee qualitatively and associated payments will be
      established for achievement of threshold, target and outstanding
      levels;

              

      

       

      
        	
                (iii)  

              	
                With
      respect to individual performance measures, high level goals will be
      described by the Committee qualitatively and associated payments will be
      established for achievement of threshold, target and outstanding levels;
      and

              

      

       

      
        	
                (iv)  

              	
                With
      respect to any other performance measures that may be established by the
      Committee, associated goals and payment levels shall be set in the manner
      determined by the Committee.

              

      

       

      
        	
                5.  

              	
                DETERMINATION
      AND PAYMENT OF AWARDS TO
PARTICIPANTS

              

      

       

      
        	
                A.  

              	
                Participant
      Awards in connection with a Plan Year shall be the sum of the payments
      earned with respect to the achievement of goals for each performance
      measure established for that Plan Year by the Committee under Section
      4.

              

      

       

      
        	
                B.  

              	
                In
      the first quarter of the year following the subject Plan Year, the
      Committee shall, based on the recommendations of, and in consultation
      with, the Chief Executive Officer, determine for that Plan Year, Company
      performance against the pre-determined operating goals.  The
      Committee shall also, based upon the recommendations of, and in
      consultation with, the Chief Executive Officer, as well as the Committee’s
      independent analysis, subjectively assess the Company’s achievement of
      strategic goals and each Participant’s achievement of individual goals for
      that Plan Year.

              

      

       

      
        	
                C.  

              	
                With
      respect to a Plan Year, the Committee shall have the discretion to
      determine, based upon the recommendations of, and in consultation
      with,
      the Chief Executive Officer, as well as the Committee’s independent
      analysis, the extent
      to which goals have been met, including whether adjustments to goals, or the
      weighting of performance measures, and/or actual results should be
      made.  The Committee shall have the discretion to increase,
      decrease or eliminate at any time prior to payment the amount otherwise
      payable in connection with a Participant Award for the subject Plan
      Year.  In
      using its discretion hereunder the Committee shall take into account such
      factors as it deems appropriate, including adjustments for variances due
      to market developments (e.g., changes in the LME, the Midwest Premium,
      accounting changes) and for changes in underlying assumptions when the
      performance measures and goals were
set.

              

      

       

      
        	
                D.  

              	
                A
      pro-rated portion of a Participant Award shall be paid to a Participant
      whose employment by the Company or a Subsidiary is terminated prior to the
      end of a Plan Year due to death, Disability, Retirement, Termination Other
      than for Cause, or other reason approved by the Committee. The pro-rated
      portion payable to such Participant shall be determined by multiplying his
      or her Participant Award by a fraction, the numerator of which is the
      number of weeks of his or her full employment by the Company or a
      Subsidiary during such Plan Year and the denominator of which is
      52.  Payment of a pro-rated Participant Award will be made when
      Participant Awards are otherwise paid under the AIP.

              

      

       

      
        	
                E.  

              	
                If
      a Participant’s employment with the Company or a Subsidiary has been
      terminated prior to the last business day of a Plan Year, other than by
      death, Disability, Retirement, Termination Other than for Cause, or other
      reason approved by the Committee, no Participant Award shall be payable to
      such Participant with respect to that Plan Year.

              

      

       

      
        	
                F.  

              	
                Participant
      Awards shall be paid to Participants in cash.  In the event of
      the death of a Participant prior to the payment of a Participant Award,
      payment shall be made to his or her beneficiary, or if no beneficiary has
      been designated or if a beneficiary who has been designated dies prior to
      the receipt of payment, the Participant Award shall be paid to the
      personal representative of the Participant.  Each Participant
      Award shall be paid during the calendar year that begins immediately
      following the end of the Plan Year for which such Participant Award is
      made.  Notwithstanding the foregoing provision as to payment of
      Awards in cash, the Committee shall have the discretion to pay a
      Participant Award in shares of Common Stock of the Company pursuant and
      subject to all of the terms and provisions of the Company’s Amended and
      Restated 1996 Stock Incentive Plan if the Committee determines it is
      prudent to do so, given Company cash constraints or other relevant
      circumstances.

              

      

       

      
        	
                6.  

              	
                PARTICIPATION

              

      

       

      An
employee eligible to be a Participant hereunder shall participate in the AIP
only to the extent that the Committee may from time to time determine that such
employee shall be a Participant, and any Participant who participates in the AIP
in any one year may be excluded from participation in the AIP in any other
year.

       

      
        	
                7.  

              	
                TERM

              

      

       

      The AIP
shall continue until such time as it may be terminated by action of the
Committee; provided
however, that upon any
termination of the AIP, Awards already granted but not yet paid to Participants
shall continue to be subject to the provisions of the AIP.

       

      
        	
                8.  

              	
                ADMINISTRATION

              

      

       

      
        	
                A.  

              	
                The
      Committee has full power and authority to amend, modify, terminate,
      construe, interpret and administer the AIP.  Any interpretation
      of the AIP by the Committee or any action or decision by the Committee
      administering the AIP shall be final and binding on all
      Participants.

              

      

       

      
        	
                B.  

              	
                In
      carrying out its duties hereunder the Committee may in its discretion (1)
      appoint such committees comprised of some or all of the members of the
      Committee, with such powers as the Committee shall in each case determine,
      (2) authorize one or more members of the Committee or any agent to execute
      or deliver any instrument or instruments in behalf of the Committee, and
      (3) employ such counsel, agents and other services as the Committee may
      require.

              

      

       

      
        	
                C.  

              	
                Pursuant
      to the direction of the Chief Executive Officer, the Company shall follow
      such procedures as the Chief Executive Officer or the Chief Executive
      Officer’s designees deem necessary and appropriate to implement the
      provisions of the AIP.

              

      

       

      
        	
                9.  

              	
                WITHHOLDING

              

      

       

      The
Company and its Subsidiaries shall, to the extent required by law, have the
right to deduct from payments of any kind due to a recipient hereunder, or to
otherwise require payment by said recipient, of the amount of any federal, state
or local taxes required by law to be withheld with respect to the amounts of
such payments.

       

      
        	
                10.  

              	
                RECOUPMENT

              

      

       

      The
payment after January 1, 2008 of any Participant Awards under the AIP shall be
subject to recoupment by the Company under and in accordance with the provisions
of any Incentive Compensation Recoupment Policy that may be adopted by the Board
from time to time.

       

      
        	
                11.  

              	
                EMPLOYEE
      RIGHTS

              

      

       

      No
employee of the Company or any Subsidiary has a claim or right to be a
Participant in the AIP, to continue as a Participant, or to be granted Awards
under the AIP.  The Company and its Subsidiaries are not obligated to
give uniform treatment to Participants, except as and to the extent required by
applicable law.  Participation in the AIP does not create a contract
of employment between a Participant and the Company or any of its Subsidiaries,
and does not give a Participant the right to be retained in the employment of
the Company or its Subsidiaries; nor does participation in the AIP imply or
confer any other rights.  Nothing contained in the AIP shall be deemed
to require the Company or its Subsidiaries to deposit, invest or set aside any
amounts for the payments of any Participant Awards; nor will anything herein be
deemed to give any Participant any ownership, security, or other rights in any
assets of the Company or its Subsidiaries.

       

      
        	
                12.  

              	
                CHIEF
      EXECUTIVE OFFICER

              

      

       

      The
Committee shall make Awards to the Chief Executive Officer in its sole
discretion.  Notwithstanding anything contained herein to the
contrary, to the extent proscribed by the Nasdaq Marketplace Rules, the
Company’s Charter of the Committee and other applicable laws, rules and
regulations, the Chief Executive Officer shall not provide recommendations with
respect to Awards for the Chief Executive Officer.

       

      
        	
                13.  

              	
                SECTION
      409A

              

      

       

      The AIP
is intended to comply with the provisions of Section 409A of the Code and shall
be interpreted in a manner consistent with the requirements of such law to the
extent applicable.

       

      
        	
                14.  

              	
                GOVERNING
      LAW AND VALIDITY

              

      

       

      The AIP,
all Awards that may be granted hereunder, and all related matters shall be
governed by and construed and enforced in accordance with the laws of the State
of Delaware and any applicable federal law.  The invalidity or
illegality of any provision hereof shall not be deemed to affect the validity of
any other provision.

       

       

      Adopted
by the Board of Directors on April 7, 2008.

       

       

      /s/
John P. O'Brien        

      John
P. O’Brien

      Chairman
of the Board

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Annex
A

       

       

      Performance
Measure Weighting

       

      
        	 
      	 	
                Performance
      Measure Weighting, by Participant/Position

              	 
	
                Performance
      Measures

              	 	
                CEO

              	 	 	
                COO,
      CAO

              	 	 	
                Business
      Development

              	 	 	
                Other

              	 
	
                Operating Measures
    (Corporate)

              	 	 	 	 	 	 	 	 	 	 	 	 
	
                Operating
      Income

              	 	 	12.5	%	 	 	25.0	%	 	 	7.5	%	 	 	20.0	%
	
                Conversion
      Cost

              	 	 	12.5	%	 	 	25.0	%	 	 	7.5	%	 	 	20.0	%
	
                Safety
      (TCIR)

              	 	 	5.0	%	 	 	10.0	%	 	 	5.0	%	 	 	10.0	%
	
                Strategic Measures
    (Corporate)

              	 	 	50.0	%	 	 	20.0	%	 	 	60.0	%	 	 	30.0	%
	
                Individual Discretionary Measures
      (Individual)

              	 	 	20.0	%	 	 	20.0	%	 	 	20.0	%	 	 	20.0	%
	
                Total

              	 	 	100	%	 	 	100	%	 	 	100	%	 	 	100	%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]