Document:

EX-10.8

 

Exhibit 10.8

AMENDMENT AGREEMENT

     THIS AMENDMENT AGREEMENT is made as of March 22, 2005, by and between Century Aluminum
Company, a Delaware corporation (the “Company”), and David W. Beckley (the “Executive”).

RECITALS

     A. The Company and the Executive are parties to an Employment Agreement, made as of January 1,
2002, pursuant to which the parties agreed that the Company would employ Executive as Executive
Vice President and Chief Financial Officer. The Employment Agreement was amended as of December 9,
2003. That amended agreement is hereafter referred to as the “Employment Agreement”.

     B. Executive has expressed his interest in retiring from the Company prior to December 31,
2005. The Company believes it is in the best interest of the Company to have Executive serve until
December 31, 2005.

     C. Executive is willing to continue his employment with the Company on the terms and
conditions set forth in this Amendment Agreement.

     THE PARTIES AGREE AS FOLLOWS:

     1. Term of Employment. Executive agrees he will continue to serve the Company as its
Executive Vice President and Chief Financial Officer through December 31, 2005. Executive also
agrees he shall make himself available to consult with the Company after December 31, 2005, as may
be reasonably requested by the Company.

     2. Special Bonus. Provided Executive satisfactorily completes his service as provided
in paragraph 1. of this Amendment Agreement, Executive shall be paid early in calendar year 2006 a
special bonus equal in amount to 50% of his then current base pay. This special bonus shall be in
addition to all other compensation he shall be entitled to receive under his Employment Agreement
or otherwise.

     3. Incorporation of Amendment Agreement and SPA. Except as explicitly set forth in
the Amendment Agreement, the parties do not intend to modify the terms and conditions of the
Employment Agreement or the SPA, those terms and conditions shall remain in full force and effect,
and they shall be incorporated into this Amendment Agreement by this reference.

 

 

	 	 	 	 	 
	CENTURY ALUMINUM COMPANY	 	 
	 
	 	 	 	 
	By:

	 	/s/ Gerald J. Kitchen
	 	 
	

	 	 	 	 
	 
	 	 	 	 
	Title:

	 	Executive Vice President	 	 
	

	 	 	 	 
	 
	 	 	 	 
	

	 	/s/ David W. Beckley	 	 
	

	 	 	 	 
	

	 	David W. BeckleyEX-10.9

 

Exhibit 10.9

CENTURY ALUMINUM COMPANY

SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION

     The following is a summary of compensation to be paid to the non-employee directors of Century
Aluminum Company (the “Company”) for the year ended December 31, 2005 as determined by the
Compensation Committee of the Company’s Board of Directors on March 21, 2005. For additional
information regarding the compensation of the Company’s non-employee directors, please read the
Company’s definitive proxy statement relating to its 2005 annual meeting of shareholders to be
filed pursuant to Regulation 14A of the Securities Exchange Act of 1934, as amended.

	 	•  	Annual retainer of $25,000 for Board membership, except for the Chairman
of the Audit Committee, who will receive an additional $5,000 for serving in that
capacity.
	 
	 	•  	$2,000 for each Board or Board Committee meeting attended, except for the
Chairman of the Audit Committee, who will receive $3,000 per Audit Committee meeting
attended.
	 
	 	•  	Each non-employee director continuing in office after the 2005 annual
meeting of stockholders will receive options to purchase 3,000 shares of the Company’s
common stock at an exercise price equal to the market price of such shares on the date
of the grant.
	 
	 	•  	Reimbursement for travel and other expenses incurred in attending Board
and Board Committee meetings.EX-10.10

 

Exhibit 10.10

CENTURY ALUMINUM COMPANY

SUMMARY OF CERTAIN 2004 COMPENSATION FOR NAMED EXECUTIVE OFFICERS

     The following is a summary of certain compensation paid to each person who will be designated
a named executive officer (“NEO”) of Century Aluminum Company (the “Company”) in
the proxy statement for the Company’s 2005 annual meeting of shareholders (“2005 Proxy”).
For additional information regarding the compensation of the NEOs, please read the 2005 Proxy,
which will be filed with the Securities and Exchange Commission pursuant to Regulation 14A of the
Securities Exchange Act of 1934, as amended.

     The following table summarizes: (i) the performance share payouts received by each NEO based
on the vesting of performance shares previously awarded under the Company’s 1996 Stock Incentive
Plan for the 2002 – 2004 performance period, and (ii) cash bonuses awarded to the NEOs under the
Company’s incentive compensation plan for the year ended December 31, 2004 based on the Company’s
performance and the Compensation Committee’s subjective evaluation of each NEO’s performance. The
vesting levels of the performance shares and cash bonuses were determined by the Compensation
Committee of the Company’s Board of Directors on March 21, 2005.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Name	 	Title	 	2004
Salary	 	Vested Performance Shares	 	2004 Bonus
	Craig A. Davis

	 	Chairman and Chief
Executive Officer
	 	$	809,167	 	 	 	38,291	 	 	$	1,810,000	 
	Jack E. Gates

	 	Executive Vice President
and Chief Operating Officer
	 	 	310,417	 	 	 	6,176	 	 	 	511,250	 
	Gerald J. Kitchen

	 	Executive Vice President,
General Counsel, Chief
Administrative Officer and
Secretary
	 	 	279,083	 	 	 	10,131	 	 	 	497,775	 
	David W. Beckley

	 	Executive Vice President
and Chief Financial Officer
	 	 	281,292	 	 	 	10,023	 	 	 	431,200	 
	Daniel J. Krofcheck

	 	Vice President and Treasurer
	 	 	195,292	 	 	 	5,166	 	 	 	341,700<PAGE>

                                                                   EXHIBIT 10(a)

                         MONTHLY SERVICER'S CERTIFICATE

                              CONSUMERS FUNDING LLC
                $468,592,000 SECURITIZATION BONDS, SERIES 2001-1

    Pursuant to Section 3.05 of the Servicing Agreement dated as of November
     8, 2001 (the "Consumers Servicing Agreement") between Consumers Energy
                   Company, as Servicer and Consumers Funding
          LLC, as Issuer, the Servicer does hereby certify as follows:

Capitalized terms used in the Monthly Servicer's Certificate (the "Monthly
Certificate") have their respective meanings as set forth in the Servicing
Agreement. References herein to certain sections and subsections are
references to the respective sections of the Servicing Agreement.

                       Current BILLING MONTH: January 2005

<TABLE>
<CAPTION>
CURRENT BILLING MONTH        1/5/2005 - 2/2/2005                       COLLECTION CURVE 100%
<S>                                                             <C>                <C>
 STANDARD BILLING FOR PRIOR BILLING MONTH

Residential Total Billed                                        $161,286,389
Residential SECURITIZATION CHARGE (SC) Billed                   $  1,517,808       0.941%

Commercial Total Billed                                         $ 87,786,726
Commercial SECURITIZATION CHARGE (SC) Billed                    $  1,434,527       1.634%

Industrial Total Billed                                         $ 47,249,997
Industrial SECURITIZATION CHARGE (SC) Billed                    $  1,387,795       2.937%

 YTD NET WRITE-OFFS AS A % OF BILLED REVENUE

 Non-Residential Customer Net Write-offs                               0.110%
 Residential Customer Net Write-offs                                   0.520%
 Total Net Write-offs                                                  0.300%

 AGGREGATE SC COLLECTIONS

TOTAL SC REMITTED FOR BILLING MONTH
Residential Class SC Collected                                  $  1,543,634
Commercial Class SC Collected                                   $  1,439,056
Industrial Class SC Collected                                   $  1,202,412

Total SC Collected                                              $  4,185,102

 Aggregate SC Remittances for January 2005 BILLING MONTH        $  4,185,102
 Aggregate SC Remittances for February 2005 BILLING MONTH       $          0
 Aggregate SC Remittances for March 2005 BILLING MONTH          $          0
 TOTAL CURRENT SC REMITTANCES                                   $  4,185,102
</TABLE>

                                                                     Page 1 of 3

<PAGE>

<TABLE>
<CAPTION>
CURRENT BILLING MONTH        1/5/2005 - 2/2/2005                       COLLECTION CURVE 100%
<S>                                                             <C>
CALCULATED SC COLLECTED AMOUNT
RESIDENTIAL
A-1 Residential SC Collected                                    $  1,468,509
A-3 Residential T.O.D. SC Collected                             $      6,719
A-4 Alternate Residence SC Collected                            $     34,830
A-5 Residential Farm/Life Support SC Collected                  $     33,576

TOTAL RESIDENTIAL SC COLLECTED                                  $  1,543,634

COMMERCIAL
B-1 General Primary   (041) SC Collected                        $     21,638
B-General Secondary   (010) SC Collected                        $    277,062
C- General Secondary   (011) SC Collected                       $    503,182
D-General Primary   (018) SC Collected                          $    308,390
F-Primary High Load Factor   (032) SC Collected                 $     52,201
GH-General Service Heating   (013) SC Collected                 $      6,346
H- Water Heating Service   (014) SC Collected                   $        736
L-1 General Energy-Only Street Lighting SC Collected            $      3,384
L-2 General Service (Cust Owned) St Light SC Collected          $      3,244
L-3 General Service (Co Owned) St Light SC Collected            $     17,267
L-4 General Service Outdoor Lighting Commercial SC Collected    $          2
PS-1 General Secondary Public Pumping SC Collected              $      7,702
PS-2 General Primary Public Pumping SC Collected                $      9,583
PS-3 General Optional Primary Public Pumping SC Collected       $     48,266
R-1 General Secondary Resale SC Collected                       $          3
R-2 General Secondary Resale SC Collected                       $        892
R-3 General Primary Resale SC Collected                         $     33,969
ROA-P Retail Open Access Primary (110) SC Collected             $     97,631
ROA-S Retail Open Access Secondary Com SC Collected             $     37,576
SC - Special Contract Commercial SC Collected                   $      1,919
SPEC Grand Rapids Special Contract SC Collected                 $      3,296
UR-General Unmetered SC Collected                               $      4,767

TOTAL COMMERCIAL SC COLLECTED                                   $  1,439,056

INDUSTRIAL
B-1 General Primary   (042) SC Collected                        $     17,948
B-General Secondary   (020) SC Collected                        $     34,865
C- General Secondary   (021) SC Collected                       $     79,600
CG-Cogeneration/Small Power Production Purchase SC Collected    $      1,574
D-General Primary   (028) SC Collected                          $    456,562
F-Primary High Load Factor   (033) SC Collected                 $     70,963
GH-General Service Heating   (023) SC Collected                 $         75
GMD General Motors SC Collected                                 $     49,673
GMF General Motors SC Collected                                 $    114,737
GMF-1 General Motors SC Collected                               $      4,727
GMJ-1 General Motors SC Collected                               $      6,569
</TABLE>

                                                                     Page 2 of 3

<PAGE>

<TABLE>
<CAPTION>
CURRENT BILLING MONTH        1/5/2005 - 2/2/2005                        COLLECTION CURVE 100%
<S>                                                             <C>
 H- Water Heating Service   (024) SC Collected                  $          1
 I-General Primary Interruptible   (034) SC Collected           $      3,830
 J-1General Alternative Electric Metal Melting SC Collected     $     27,661
 J-General Primary Electric Furnace   (037) SC Collected        $      5,002
 L-4 General Service Outdoor Lighting Industrial SC Collected   $          1
 R-3 General Primary Resale (027) SC Collected                  $        780
 ROA-P Retail Open Access Primary (111) SC Collected            $    236,510
 ROA-S Retail Open Access Secondary Ind SC Collected            $      6,054
 SC - Special Contract Industrial SC Collected                  $     85,280

 TOTAL INDUSTRIAL SC COLLECTED                                  $  1,202,412

 TOTAL SC COLLECTED                                             $  4,185,102
</TABLE>

Executed as of this 15th day of February 2005.

                                         CONSUMERS ENERGY COMPANY
                                         AS SERVICER

                                         /s/ Glenn P. Barba
                                         ---------------------------------------
                                         Glenn P. Barba, Vice President,
                                         Controller and Chief Accounting Officer

CC: Consumers Funding LLC
    One Energy Plaza
    Jackson, Mi  49201

                                                                     Page 3 of 3

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