Document:

INDEMNIFICATION
      AGREEMENT

    

    This
      INDEMNIFICATION AGREEMENT, dated as of the 8th day of May 2006 is made by and
      between WINNER MEDICAL GROUP INC., a Nevada corporation (the "Company"), and
      Dr.
      Horngjon Shieh, an officer or director of the Company (the
“Indemnitee”).

    

    RECITALS

    

    A. The
      Company and the Indemnitee recognize that the present state of the law is too
      uncertain to provide the Company's officers and directors with adequate and
      reliable advance knowledge or guidance with respect to the legal risks and
      potential liabilities to which they may become personally exposed as a result
      of
      performing their duties for the Company;

    

    B. The
      Company and the Indemnitee are aware of the substantial growth in the number
      of
      lawsuits filed against corporate officers and directors in connection with
      their
      activities in such capacities and by reason of their status as
      such;

    

    C. The
      Company and the Indemnitee recognize that the cost of defending against such
      lawsuits, whether or not meritorious, is typically beyond the financial
      resources of most officers and directors of the Company;

    

    D. The
      Company and the Indemnitee recognize that the legal risks and potential
      liabilities, and the threat thereof, associated with proceedings filed against
      the officers and directors of the Company bear no reasonable relationship to
      the
      amount of compensation received by the Company's officers and
      directors;

    

    E. The
      Company, after reasonable investigation prior to the date hereof, has determined
      that the liability insurance coverage available to the Company as of the date
      hereof is inadequate, unreasonably expensive or both. The Company believes,
      therefore, that the interest of the Company and its current and future
      shareholders would be best served by a combination of (i) such insurance as
      the
      Company may obtain pursuant to the Company's obligations hereunder and (ii)
      a
      contract with its officers and directors, including the Indemnitee, to indemnify
      them to the fullest extent permitted by law (as in effect on the date hereof,
      or, to the extent any amendment may expand such permitted indemnification,
      as
      hereafter in effect) against personal liability for actions taken in the
      performance of their duties to the Company;

    

    F. Section
      78.7502 of the Nevada Revised Statutes empowers Nevada corporations to indemnify
      their officers and directors and further states that the indemnification
      provided by Section 78.7502 shall not be deemed exclusive of any other rights
      to
      which those seeking
      indemnification may be entitled under the articles of incorporation or any
      bylaw, agreement, vote of shareholders or disinterested directors or otherwise,
      both as to action in an official capacity and as to action in another capacity
      while holding such office; thus, Section 78.7502 does not by itself limit the
      extent to which the Company may indemnify persons serving as its officers and
      directors;

     

    G. The
      Company's Articles of Incorporation and Bylaws authorize the indemnification
      of
      the officers and directors of the Company in excess of that expressly permitted
      by Section 78.7502;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    H. The
      Board
      of Directors of the Company has concluded that, to retain and attract talented
      and experienced individuals to serve as officers and directors of the Company
      and to encourage such individuals to take the business risks necessary for
      the
      success of the Company, it is necessary for the Company to contractually
      indemnify its officers and directors, and to assume for itself liability for
      expenses and damages in connection with claims against such officers and
      directors in connection with their service to the Company, and has further
      concluded that the failure to provide such contractual indemnification could
      result in great harm to the Company and its shareholders;

    

    I. The
      Company desires and has requested the Indemnitee to serve or continue to serve
      as a director or officer of the Company, free from undue concern for the risks
      and potential liabilities associated with such services to the Company;
      and

    

    J. The
      Indemnitee is willing to serve, or continue to serve, the Company, provided,
      and
      on the expressed condition, that he is furnished with the indemnification
      provided for herein.

    

    AGREEMENT

    

    NOW,
      THEREFORE, the Company and Indemnitee agree as follows:

    

    1. DEFINITIONS.

    

    (a) “EXPENSES”
      means, for the purposes of this Agreement, all direct and indirect costs of
      any
      type or nature whatsoever (including, without limitation, any fees and
      disbursements of Indemnitee's counsel, accountants and other experts and other
      out-of-pocket costs) actually and reasonably incurred by the Indemnitee in
      connection with the investigation, preparation, defense or appeal of a
      Proceeding; provided, however, that Expenses shall not include judgments, fines,
      penalties or amounts paid in settlement of a Proceeding.

    

    (b) “PROCEEDING”
      means, for the purposes of this Agreement, any threatened, pending or completed
      action or proceeding, whether civil, criminal, administrative or investigative
      (including an action brought by or in the right of the Company) in which
      Indemnitee may be or may have been involved as a party or otherwise, by reason
      of the fact that Indemnitee is or was a director or officer of the Company,
      by
      reason of any action taken by him or of any inaction on his part while acting
      as
      such director or officer or by reason of the fact that he is or was serving
      at
      the request of the Company as a director, officer, employee or agent of another
      foreign or domestic corporation, partnership, joint venture, trust or other
      enterprise, or was a director or officer of the foreign or domestic corporation
      which was a predecessor corporation to the Company or of another enterprise
      at
      the request of such predecessor corporation, whether or not he is serving in
      such capacity at the time any liability or expense is incurred for which
      indemnification or reimbursement can be provided under this
      Agreement.

     

    2. AGREEMENT
      TO SERVE.

    

    Indemnitee
      agrees to serve or continue to serve as a director or officer of the Company
      to
      the best of his abilities at the will of the Company or under separate contract,
      if such contract exists, for so long as Indemnitee is duly elected or appointed
      and qualified or until such time as he tenders his resignation in writing.
      Nothing contained in this Agreement is intended to create in Indemnitee any
      right to continued employment. 

     

    
      
        
        

      

      
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    3. INDEMNIFICATION.

    

    (a) THIRD
      PARTY PROCEEDINGS. The Company shall indemnify Indemnitee against Expenses,
      judgments, fines, penalties or amounts paid in settlement (if the settlement
      is
      approved in advance by the Company) actually and reasonably incurred by
      Indemnitee in connection with a Proceeding (other than a Proceeding by or in
      the
      right of the Company) if Indemnitee acted in good faith and in a manner
      Indemnitee reasonably believed to be in the best interests of the Company,
      and,
      with respect to any criminal action or proceeding, had no reasonable cause
      to
      believe Indemnitee's conduct was unlawful. The termination of any Proceeding
      by
      judgment, order, settlement, conviction, or upon a plea of NOLO CONTENDERE
      or
      its equivalent, shall not, of itself, create a presumption that Indemnitee
      did
      not act in good faith and in a manner which Indemnitee reasonably believed
      to be
      in the best interests of the Company, or, with respect to any criminal
      Proceeding, had no reasonable cause to believe that Indemnitee's conduct was
      unlawful.

    

    (b) PROCEEDINGS
      BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by law,
      the
      Company shall indemnify Indemnitee against Expenses and amounts paid in
      settlement, actually and reasonably incurred by Indemnitee in connection with
      a
      Proceeding by or in the right of the Company to procure a judgment in its favor
      if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
      to be in the best interests of the Company and its shareholders. Notwithstanding
      the foregoing, no indemnification shall be made in respect of any claim, issue
      or matter as to which Indemnitee shall have been adjudged liable to the Company
      in the performance of Indemnitee's duty to the Company and its shareholders
      unless and only to the extent that the court in which such action or proceeding
      is or was pending shall determine upon application that, in view of all the
      circumstances of the case, Indemnitee is fairly and reasonably entitled to
      indemnity for expenses and then only to the extent that the court shall
      determine.

    

    (c) SCOPE.
      Notwithstanding any other provision of this Agreement but subject to SECTION
      14(b), the Company shall indemnify the Indemnitee to the fullest extent
      permitted by law, notwithstanding that such indemnification is not specifically
      authorized by other provisions of this Agreement, the Company's Articles of
      Incorporation, the Company's Bylaws or by statute.

    

    4. LIMITATIONS
      ON INDEMNIFICATION.

    

    Any
      other
      provision herein to the contrary notwithstanding, the Company shall not be
      obligated pursuant to the terms of this Agreement: 

     

    (a) EXCLUDED
      ACTS. To indemnify Indemnitee for any acts or omissions or transactions from
      which a director may not be relieved of liability under applicable
      law;

     

    
      
        
        

      

      
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    (b) EXCLUDED
      INDEMNIFICATION PAYMENTS. To indemnify or advance Expenses in violation of
      any
      prohibition or limitation on indemnification under the statutes, regulations
      or
      rules promulgated by any state or federal regulatory agency having jurisdiction
      over the Company.

    

    (c) CLAIMS
      INITIATED BY INDEMNITEE. To indemnify or advance Expenses to Indemnitee with
      respect to Proceedings or claims initiated or brought voluntarily by Indemnitee
      and not by way of defense, except with respect to proceedings brought to
      establish or enforce a right to indemnification under this Agreement or any
      other statute or law or otherwise as required under Section 78.7502 of the
      Nevada Revised Statutes, but such indemnification or advancement of Expenses
      may
      be provided by the Company in specific cases if the Board of Directors has
      approved the initiation or bringing of such suit;

    

    (d) LACK
      OF
      GOOD FAITH. To indemnify Indemnitee for any Expenses incurred by the Indemnitee
      with respect to any proceeding instituted by Indemnitee to enforce or interpret
      this Agreement, if a court of competent jurisdiction determines that each of
      the
      material assertions made by the Indemnitee in such proceeding was not made
      in
      good faith or was frivolous; 

    

    (e) INSURED
      CLAIMS. To indemnify Indemnitee for Expenses or liabilities of any type
      whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes
      or penalties, and amounts paid in settlement) which have been paid directly
      to
      or on behalf of Indemnitee by an insurance carrier under a policy of directors'
      and officers' liability insurance maintained by the Company or any other policy
      of insurance maintained by the Company or Indemnitee;

    

    (f) CLAIMS
      UNDER SECTION 16(b). To indemnify Indemnitee for Expenses and the payment of
      profits arising from the purchase and sale by Indemnitee of securities in
      violation of Section 16(b) of the Securities Exchange Act of 1934, as amended,
      or any similar successor statute. 

    

    5. DETERMINATION
      OF RIGHT TO INDEMNIFICATION.

    

    Upon
      receipt of a written claim addressed to the Board of Directors for
      indemnification pursuant to SECTION 3, the Company shall determine by any of
      the
      methods set forth in Section 78.751 of the Nevada Revised Statutes whether
      Indemnitee has met the applicable standards of conduct which makes it
      permissible under applicable law to indemnify Indemnitee. If a claim under
      SECTION 3 is not paid in full by the Company within ninety (90) days after
      such
      written claim has been received by the Company, the Indemnitee may at any time
      thereafter bring suit against the Company to recover the unpaid amount of the
      claim and, unless such action is dismissed by the court as frivolous or brought
      in bad faith, the Indemnitee shall be entitled to be paid also the expense
      of
      prosecuting such claim. The court in which such action is brought shall
determine
      whether Indemnitee or the Company shall have the burden of proof concerning
      whether Indemnitee has or has not met the applicable standard of
      conduct.

     

    
      
        
        

      

      
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    6. ADVANCEMENT
      AND REPAYMENT OF EXPENSES.

    

    Subject
      to SECTION 4 hereof, the Expenses incurred by Indemnitee in defending and
      investigating any Proceeding shall be paid by the Company in advance of the
      final disposition of such Proceeding within 30 days after receiving from
      Indemnitee the copies of invoices presented to Indemnitee for such Expenses,
      if
      Indemnitee shall provide an undertaking to the Company to repay such amount
      to
      the extent it is ultimately determined that Indemnitee is not entitled to
      indemnification. In determining whether or not to make an advance hereunder,
      the
      ability of Indemnitee to repay shall not be a factor. Notwithstanding the
      foregoing, in a proceeding brought by the Company directly, in its own right
      (as
      distinguished from an action bought derivatively or by any receiver or trustee),
      the Company shall not be required to make the advances called for hereby if
      the
      Board of Directors determines, in its sole discretion, that it does not appear
      that Indemnitee has met the standards of conduct which make it permissible
      under
      Applicable law to indemnify Indemnitee and the advancement of Expenses would
      not
      be in the best interests of the Company and its shareholders.

    

    7. PARTIAL
      INDEMNIFICATION.

    

    If
      the
      Indemnitee is entitled under any provision of this Agreement to indemnification
      or advancement by the Company of some or a portion of any Expenses or
      liabilities of any type whatsoever (including, but not limited to, judgments,
      fines, penalties, and amounts paid in settlement) incurred by him in the
      investigation, defense, settlement or appeal of a Proceeding, but is not
      entitled to indemnification or advancement of the total amount thereof, the
      Company shall nevertheless indemnify or pay advancements to the Indemnitee
      for
      the portion of such Expenses or liabilities to which the Indemnitee is entitled.
      

    

    8. NOTICE
      TO
      COMPANY BY INDEMNITEE.

    

    Indemnitee
      shall notify the Company in writing of any matter with respect to which
      Indemnitee intends to seek indemnification hereunder as soon as reasonably
      practicable following the receipt by Indemnitee of written notice thereof;
      provided, however, that any delay in so notifying the Company shall not
      constitute a waiver by Indemnitee of his rights hereunder. The written
      notification to the Company shall be addressed to the Board of Directors and
      shall include a description of the nature of the Proceeding and the facts
      underlying the Proceeding and be accompanied by copies of any documents filed
      with the court in which the Proceeding is pending. In addition, Indemnitee
      shall
      give the Company such information and cooperation as it may reasonably require
      and as shall be within Indemnitee's power.

    

    9. MAINTENANCE
      OF LIABILITY INSURANCE.

    

    (a) Subject
      to SECTION 4 hereof, the Company hereby agrees that so long as Indemnitee shall
      continue to serve as a director or officer of the Company and thereafter so
      long
      as Indemnitee shall be subject to any possible Proceeding, the Company, subject
      to SECTION 9(B), shall use reasonable commercial efforts to obtain and maintain
      in full force and effect directors' and officers' liability insurance (“D&O
      Insurance”) which provides Indemnitee the same rights and benefits as are
      accorded to the most favorably insured of the Company's directors, if Indemnitee
      is a director; or of the Company's officers, if Indemnitee is not a director
      of
      the Company but is an officer.

     

    
      
        
        

      

      
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    (b) Notwithstanding
      the foregoing, the Company shall have no obligation to obtain or maintain
      D&O Insurance if the Company determines in good faith that such insurance is
      not reasonably available, the premium costs for such insurance are
      disproportionate to the amount of coverage provided, the coverage provided
      by
      such insurance is limited by exclusions so as to provide an insufficient
      benefit, or the Indemnitee is covered by similar insurance maintained by a
      subsidiary or parent of the Company.

    

    (c) If,
      at
      the time of the receipt of a notice of a claim pursuant to SECTION 8 hereof,
      the
      Company has D&O Insurance in effect, the Company shall give prompt notice of
      the commencement of such Proceeding to the insurers in accordance with the
      procedures set forth in the respective policies. The Company shall thereafter
      take all necessary or desirable action to cause such insurers to pay, on behalf
      of the Indemnitee, all amounts payable as a result of such Proceeding in
      accordance with the terms of such policies. 

    

    10. DEFENSE
      OF CLAIM.

    

    In
      the
      event that the Company shall be obligated under SECTION 6 hereof to pay the
      Expenses of any Proceeding against Indemnitee, the Company, if appropriate,
      shall be entitled to assume the defense of such Proceeding, with counsel
      approved by Indemnitee, which approval shall not be unreasonably withheld,
      upon
      the delivery to Indemnitee of written notice of its election to do so. After
      delivery of such notice, approval of such counsel by Indemnitee and the
      retention of such counsel by the Company, the Company will not be liable to
      Indemnitee under this Agreement for any fees of counsel subsequently incurred
      by
      Indemnitee with respect to the same Proceeding, provided that (i) Indemnitee
      shall have the right to employ his counsel in any such Proceeding at
      Indemnitee's expense; and (ii) if (A) the employment of counsel by Indemnitee
      has been previously authorized by the Company, or (B) Indemnitee shall have
      reasonably concluded that there may be a conflict of interest between the
      Company and the Indemnitee in the conduct of such defense or (C) the Company
      shall not, in fact, have employed counsel to assume the defense of such
      Proceeding, then the fees and expenses of Indemnitee's counsel shall be at
      the
      expense of the Company.

    

    11. ATTORNEYS'
      FEES.

    

    In
      the
      event that Indemnitee or the Company institutes an action to enforce or
      interpret any terms of this Agreement, the Company shall reimburse Indemnitee
      for all of the Indemnitee's reasonable fees and expenses in bringing and
      pursuing such action or defense, unless as part of such action or defense,
      a
      court of competent jurisdiction determines that the material assertions made
      by
      Indemnitee as a basis for such action or defense were not made in good faith
      or
      were frivolous.

     

    12. CONTINUATION
      OF OBLIGATIONS.

    

    All
      agreements and obligations of the Company contained herein shall continue during
      the period the Indemnitee is a director or officer of the Company, or is or
      was
      serving at the request of the Company as a director, officer, fiduciary,
      employee or agent of another corporation, partnership, joint venture, trust
      or
      other enterprise, and shall continue thereafter so long as the Indemnitee shall
      be subject to any possible proceeding by reason of the fact that Indemnitee
      served in any capacity referred to herein.

     

    
      
        
        

      

      
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    13. SUCCESSORS
      AND ASSIGNS.

     

    This
      Agreement establishes contract rights that shall be binding upon, and shall
      inure to the benefit of, the successors, assigns, heirs and legal
      representatives of the parties hereto.

    

    14. NON-EXCLUSIVITY.

    

    (a) The
      provisions for indemnification and advancement of expenses set forth in this
      Agreement shall not be deemed to be exclusive of any other rights that the
      Indemnitee may have under any provision of law, the Company's Articles of
      Incorporation or Bylaws, the vote of the Company's shareholders or disinterested
      directors, other agreements or otherwise, both as to action in his official
      capacity and action in another capacity while occupying his position as a
      director or officer of the Company.

    

    (b) In
      the
      event of any changes, after the date of this Agreement, in any applicable law,
      statute, or rule which expand the right of a Nevada corporation to indemnify
      its
      officers and directors, the Indemnitee's rights and the Company's obligations
      under this Agreement shall be expanded to the full extent permitted by such
      changes. In the event of any changes in any applicable law, statute or rule,
      which narrow the right of a Nevada corporation to indemnify a director or
      officer, such changes, to the extent not otherwise required by such law, statute
      or rule to be applied to this Agreement, shall have no effect on this Agreement
      or the parties' rights and obligations hereunder.

    

    15. EFFECTIVENESS
      OF AGREEMENT.

    

    To
      the
      extent that the indemnification permitted under the terms of certain provisions
      of this Agreement exceeds the scope of the indemnification provided for in
      the
      Nevada Revised Statutes, such provisions shall not be effective unless and
      until
      the Company's Articles of Incorporation authorize such additional rights of
      indemnification. In all other respects, the balance of this Agreement shall
      be
      effective as of the date set forth on the first page and may apply to acts
      of
      omissions of Indemnitee which occurred prior to such date if Indemnitee was
      an
      officer, director, employee or other agent of the Company, or was serving at
      the
      request of the Company as a director, officer, employee or agent of another
      corporation, partnership, joint venture, trust or other enterprise, at the
      time
      such act or omission occurred.

    

    16. SEVERABILITY.

    

    Nothing
      in this Agreement is intended to require or shall be construed as requiring
      the
      Company to do or fail to do any act in violation of applicable law. The
      Company's inability, pursuant to court order, to perform its obligations under
      this Agreement shall not constitute a breach of this Agreement. The provisions
      of this Agreement shall be severable as provided in this SECTION 16. If this
      Agreement or any portion hereof shall be invalidated on any ground by any court
      of competent jurisdiction, then the Company shall nevertheless indemnify
      Indemnitee to the full extent permitted by any applicable portion of this
      Agreement that shall not have been invalidated, and the balance of this
      Agreement not so invalidated shall be enforceable in accordance with its
      terms.

     

    
      
        
        

      

      
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    17.
      GOVERNING LAW.

    

    This
      Agreement shall be interpreted and enforced in accordance with the laws of
      the
      State of Nevada, without reference to its conflict of law principals. To the
      extent permitted by applicable law, the parties hereby waive any provisions
      of
      law which render any provision of this Agreement unenforceable in any respect.
      

    

    18. NOTICE.

    

    All
      notices, requests, demands and other communications under this Agreement shall
      be in writing and shall be deemed duly given (i) if delivered by hand and
      receipted for by the party addressee or (ii) if mailed by certified or
      registered mail with postage prepaid, on the third business day after the
      mailing date. Addresses for notice to either party are as shown on the signature
      page of this Agreement, or as subsequently modified by written
      notice.

    

    19. MUTUAL
      ACKNOWLEDGMENT.

    

    Both
      the
      Company and Indemnitee acknowledge that in certain instances, federal law or
      applicable public policy may prohibit the Company from indemnifying its
      directors and officers under this Agreement or otherwise. Indemnitee understands
      and acknowledges that the Company has undertaken or may be required in the
      future to undertake with the appropriate state or federal regulatory agency
      to
      submit for approval any request for indemnification, and has undertaken or
      may
      be required in the future to undertake with the Securities and Exchange
      Commission to submit the question of indemnification to a court in certain
      circumstances for a determination of the Company's right under public policy
      to
      indemnify Indemnitee.

    

    20. COUNTERPARTS.

    

    This
      Agreement may be executed in one or more counterparts, each of which shall
      constitute an original.

     

    21. AMENDMENT
      AND TERMINATION.

    

    No
      amendment, modification, termination or cancellation of this Agreement shall
      be
      effective unless in writing signed by both parties hereto.

    

    [Signature
      Page Follows]

     

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF, the parties have executed this Agreement as of the day and
      year
      set forth above.

     

    
      
        
          	COMPANY:	INDEMNITEE:
	 	 
	WINNER
                  MEDICAL GROUP INC.	 
	 	 	
                
	By: /s/Jianquan
                  Li  
	 /s/Horngjon
                  Shieh                                
                  
	
                  Name:
                    Jianquan Li

                  Title:
                    CEO and President

                	
                  Dr.
                    Horngjon Shieh, PhD, MBA

                
	 	 
	
                  Address: 
                    Winner
                    Industrial Park

                  
                    Bulong
                      Road, Longhua

                    
                      Shenzhen
                        City, 518109

                      
                        People’s
                          Republic of China

                      

                    

                  

                	
                  Address:    Flat 37B, Tower 3, The
                    Victoria 
                    Towers,
                      188 Canton Road, TST, 

                    Kowloon,
                      Hong Kong 

                  

                   

                
	 	 
	
                  
                    Fax:
                      (86-755) 28134588

                  

                	Fax:
                  (852) 27778856

        

      

    

     

    
      [Signature
        Page to Indemnification Agreement]Exhibit
      10.1

    

    

    Century
      Aluminum of
      West
      Virginia, Inc.

    Route
      2
      South

    Ravenswood,
      West Virginia 26164

    Monterey,
      California 26
      April
2006

    

    
      
        

      
SELLER’S SALES CONTRACT No. 161.06.27133-S

    BUYER’S
      PURCHASE CONTRACT No. XXXXXXXXX

    
      

    

    

    This
      Agreement is made
      on
26
      April
      2006
      (the
“Effective
      Date”)
      between Century Aluminum of
      West
      Virginia Inc., Route 2 South Ravenswood,
      West
      Virginia 26164, USA (the
      “Buyer”)
      and
GLENCORE
      AG, Baarermattstrasse
      3, CH-6341, Baar, Switzerland (the “Seller”).

    

    
      	1.	
              SCOPE
                OF THE AGREEMENT

            

    

    Seller
      agrees to sell alumina and Buyer agrees to buy alumina on
      the
      terms and conditions set out below.

    

    
      	2.	
              DEFINITIONS

            

    

    1
      ton 1
      metric
      ton or
      1000
      kilograms or 2204.62 lbs.

    

    US$
      and
      cents
      Means
      the lawful currency of the United States of America.

     

    
      	
              INCOTERMS
                2000

            	
              Means
                the publication entitled “ICC Official Rules for the Interpretation of
                Trade Terms - Incoterms 2000”, published by the International Chamber of
                Commerce (2000 edition).

            
	 	 
	
               

            	
              Alumina
                Means sandy calcined metallurgical grade alumina from
                any one of the following source refineries at
                Seller’s option and any
                other mutually agreed source origins:

            
	 	 
	
               

            	
              *

            
	 	 
	
              Banking
                Day

            	
              Means
                any day except a Saturday or Sunday on which banks in the City of
                New
                York, New York, United States of America are generally open for the
                conduct of business.

            
	 	 
	
              Business
                Day

            	
              Means
                any day except a Saturday or Sunday on which banks in the City of
                New
                York, New York, United States of America are generally open for the
                conduct of business.

            
	 	 
	
              Calendar
                Month

            	
              Refers
                to a named month in the Gregorian calendar.

            
	 	 
	
              Contract
                Period

            	
              Means
                (i) each Contract Year (except the last Contract Year) and (ii) the
                period
                commencing on the first day of the last Contract Year and ending
                on the
                last day of the Calendar Month in which this Agreement
                terminates.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Contract
                Year

            	
              Means
                2007 and each Year thereafter that falls (in whole or in part) within
                the
                Term of this Agreement.

            
	 	 
	
              LME

            	
              Means
                the daily
                cash settlement price for high grade aluminium,
                as
                published in Platt’s Metals Week averaged over the Quotational
                Period.

            
	 	 
	
              Loss

            	
              Means,
                with respect to this Agreement an amount that a party reasonably
                determines in good faith to be its total losses and costs (or gain,
                in
                which case expressed as a negative number) in connection with this
                Agreement as the case may be, including any loss of bargain, cost
                of
                funding or, at the election of such party but without duplication,
                loss or
                cost incurred as a result of its terminating, liquidating, obtaining
                or
                re-establishing any hedge or related trading position (or any gain
                resulting from any of them). Loss includes losses and costs (or gains)
                in
                respect of any payment or delivery required to have been made (assuming
                satisfaction of any applicable condition precedent) on or before
                the date
                of determination of such loss and not made. Loss does not include
                a
                party’s legal fees. 

            
	 	 
	
              Month
                of Actual Shipment

            	
              Means
                in respect of any shipment of Alumina
                the calendar month in which shipment takes place,
                as
                evidenced by the Bill of Lading date

            
	 	 
	
              Month
                of Scheduled Shipment

            	
              Means
                the calendar month in which
                the relevant
                shipment has been scheduled,
                as
                per clause 6
                below,
                or
                as otherwise agreed in writing between the parties.

            
	 	 
	
              Quotational
                Period

            	
              Means
                the month prior to the Month
                of Scheduled
                Shipment.

            
	 	 
	
              Year

            	
              Means
                a year in the Gregorian calendar, which shall commence on 1
                January
                and
                end on 31 December.

            

    

     

     

    
      	3.	
              TERM

            

    

    The
      term
      of this Agreement (the “Term”) shall be from the Effective Date until December
      31, 2009. 

    

    
      	4.	
              MATERIAL
                AND QUALITY

            

    

    

    
      	4.1	
              Alumina
                supplied under this Agreement will comply with the specifications
                for the
                applicable source refinery attached as per Annex 1. If Seller’s supplier
                changes the specifications for alumina produced by such supplier,
                Seller
                may propose that Buyer accept Alumina conforming to such revised
                specifications under this Agreement and Buyer shall not unreasonably
                withhold or delay such consent. Seller hereby
                warrants
                that
                Alumina delivered pursuant to this Agreement shall conform to the
                chemical
                and physical specifications set out in Annex 1 or such other
                specifications as are from time to time agreed between Buyer and
                Seller in
                writing (the “Specifications”).

            

    

    

    
      	4.2	
              Seller
                has
                the option to provide up
                to a maximum of four (4) Alumina sourced origins per Contract Year
                (defined as 1 January - 31 December) with the origin(s) under each
                Contract Year to be declared by the Seller no later than November
                30th
                of
                the year prior to the Contract Year in question. Seller acknowledges
                that
                the use of multiple origins may have financial and operational impacts
                on
                Buyer. Accordingly, each of Seller and Buyer agree to use their reasonable
                efforts to establish a mutually acceptable shipping schedule that
                avoids
                to a practicable extent financial and operational impacts to either
                party.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	4.3	
              Seller
                has the right to propose alternative supply campaigns after November
                30th
                which will
                be
                subject to review
                and acceptance by Buyer
                at
                its discretion,
                not to be unreasonably with held or delayed.
                

            

    

    

    
      	5.	
              QUANTITY

            

    

    

    
      	5.1	
              The
                following quantities of Alumina shall be delivered under each Contract
                Year:

            

    

    

    
      	
              2007:

            	
              330,000
                MT min/max

            
	
              2008:

            	
              330,000
                MT min/max

            
	
              2009:

            	
              330,000
                MT min/max

            

    

    

    
      	6.	
              SHIPMENT

            

    

    

    
      
        	6.1	
                Not
                  later than 60
                  days prior to the beginning of each Contract Year, Buyer shall
                  notify
                  Seller
                  in
                  writing of
                  the amount of Alumina which Buyer expects to require for delivery
                  in each
                  Month during the Contract Period, which notice shall include a
                  proposed
                  vessel loading schedule for such Contract Year (the “Proposed Vessel
                  Loading Schedule”).

              

      

    

    

    
      	6.2	
              The
                Proposed Vessel Loading Schedule shall
                specify:

            

    

    

    
      	
            	(a)	
              the
                total number of shipments for the relevant Contract Year, each shipment
                numbered from one onwards consecutively;

            

    

    

    
      	
            	(b)	
              the
                Month of Scheduled Shipment;

            

    

    

    
      	
            	(c)	
              the
                quantity (lot size) of Alumina to be supplied by Seller and accepted
                by
                Buyer for each such shipment; and

            

    

    

    
      	
            	(d)	
              the
                preliminary laydays
                for each shipment.

            

    

    

    
      	6.3	
              Each
                Proposed Vessel Loading Schedule is subject to Seller’s
                approval,
                which
                shall not be unreasonably withheld or
                delayed.

            

    

    

    
      
        
          
            	6.4	
                    Buyer
                      and Seller are to mutually agree on a Vessel
                      Loading Schedule
                      by
                      no later than 30th November
                      of
                      the year prior to the Contract
                      Period
                      in
                      question. Once approved, the Vessel
                      Loading Schedule
                      shall be final and binding on both parties (the “Final Vessel Loading
                      Schedule”). The Final Vessel Loading Schedule shall not be amended unless
                      agreed in writing by both
                      the Seller
                      and Buyer.

                  

          

        

      

    

    

    
      	6.5	
              The
                shipments, in lot sizes of between 25,000 - 35,000 MT, are to be
                approximately evenly distributed over each Contract Year. Lot sizes
                to be
                adjusted to reflect the physical limitations of the loading port
                origin
                and or origins declared for the contract
                year.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	6.6	
              Buyer,
                for shipping purposes, has the option to declare +/- 5 percent under
                each
                shipment. with the final shipment in any given Contract Year adjusted
                to
                reflect the balance Alumina declared under clause 5
                above.

            

    

    

    
      	7.	
              PACKING

            

    

    In
      Bulk

    

    
      	8.	
              DELIVERY

            

    

    FOB
      ST at
      the load port of the respective source refinery. All vessels provided
shall
      be
      suitable for loading and/or discharging and in conformity with the restrictions
      and limitations at the respective load ports and/or discharge ports at the
      time
      of shipping.

    

    
      	9.	
              PRICE

            

    

    

    
      	9.1	
              2007:The
                applicable percentage shall be determined by negotiation between
                a
                put
                and call
                pricing range under which Seller has
                the right to sell at *
                of
                the LME per Metric Ton and Buyer has
                the right to buy at *
                of
                the LME per Metric Ton. The applicable percentage shall be agreed
                between
                Buyer and Seller by no later than November 15th
                of
                the year preceding the Contract Year in question. If no agreement
                is
                reached by
                that date and
                neither party exercises its
                right to either put
                or
                call
                by the same date,
                then deliveries under the Agreement shall be suspended for the Contract
                Year in question.

            

    

    

    
      	9.2	
              2008:
                The
                applicable percentage shall be determined by negotiation between
                a
                put
                and call
                pricing range under which Seller has
                the right to sell at *
                of
                the LME per Metric Ton and Buyer has
                the right to buy at *
                of
                the LME per Metric Ton. The applicable percentage
                shall be agreed
                between
                Buyer and Seller by no later than November 15th
                of
                the year preceding the Contract Year in question. If no agreement
                is
                reached by
                that date and
                neither party exercises its
                right to either put
                or
                call
                by the same date,
                then deliveries under the Agreement shall be suspended for the Contract
                Year in question.

            

    

    

    
      	9.3	
              2009:
                The
                applicable percentage shall be determined by negotiation between
                a
                put
                and call
                pricing range under which Seller has
                the right to sell at *
                of
                the LME per Metric Ton and Buyer has
                the right to buy at *
                of
                the LME per Metric Ton. The applicable percentage
                shall be agreed
                between
                Buyer and Seller by no later than November 15th
                of
                the year preceding the Contract Year in question. If no agreement
                is
                reached by
                that date and
                neither party exercises its
                right to either put
                or call
                by the
                same date,
                then deliveries under the Agreement shall be suspended for the Contract
                Year in question.

            

    

    

    
      	10.	
              PAYMENT

            

    

    

    
      	10.1	
              Net
                30 days after Bill of Lading date by
                telegraphic transfer
                against presentation of the following standard shipping
                documents:

            

    

    

    
      	
            	(a)	
              Seller’s
                commercial invoice in triplicate.

            

    

    
      	
            	(b)	
              Full
                set (3/3) of clean on board ocean Bills of Lading, made out To Order
                and
                Blank Endorsed, marked “Freight payable as per Charter
                Party”.

            

    

    
      	
            	(c)	
              Certificate
                of Weight in triplicate issued by an
                independent surveyor.
                

            

    

    
      	
            	(d)	
              Certificate
                of Quality/Analysis in triplicate issued by the
                producer of the Alumina (the
“Producer”).

            

    

    
      	
            	(e)	
              Certificate
                of Origin in triplicate issued by the
                Producer.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	11.	
              FREIGHT

            

    

    

    
      	11.1	
              Buyer
                and Seller may agree
                by no later than November 30th of the Year prior to the Contract
                Year in
                question that Seller may provide freight services to Buyer on terms
                and
                conditions to be agreed by Seller and Buyer whereby Seller or its
                nominee will provide freight services to Buyer in addition to those
                obligations of Seller under this Agreement. 

            

    

    

    
      	11.2	
              If
                Buyer and Seller mutually agree on a freight services agreement,
                the cost
                of the same will be added as a cost per Metric Ton to the unit value
                as
                determined under clause 9
                above
                for the Contract
                Year
                in
                question.

            

    

    

    
      	12.	
              LOADING
                CONDITIONS

            

    

    

    The
      standard Producer terms and conditions at the time of shipment at the port
      of
      loading for the respective source refinery are to apply, including applicable
      charter party demurrage and despatch rate at the time of the shipment. In case
      no demurrage / despatch rate is mentionedin the standard loadport conditions
      then the demurrage/ despatch rate shall be as per the Charter Party (C/P).
      Seller shall be responsible for promptly supplying to Buyer a copy of such
      load
      port requirements, which shall form a part of, and be deemed included in, this
      Agreement once the Final Vessel Loading Schedule for a particular Contract
      Year
      has been agreed.

    

    
      	13.	
              INSURANCE

            

    

    

    
      	13.1	
              If
                Buyer and Seller agree
                that Seller shall provide freight services during the relevant Contract
                Year,
                then Seller shall be responsible for providing insurance from loading
                through to discharge port for the full CIF value, calculated in accordance
                with the terms of this Agreement against full risks in accordance
                with
                current Institute Marine
                Cargo
                Clauses (all risks) including War Risks and SRCC, average irrespective
                of
                percentage, with the addition of the customary 10% (ten
                percent).

            

    

    

    
      	13.2	
              In
                addition, Seller shall
                provide
                Buyer with
                an
                Original Insurance certificate in duplicate for 110% of invoice value
                covering All Risks, War Risks and SRCC Clauses.

            

    

    

    
      	14.	
              TITLE
                AND RISK

            

    

    

    Title
      and
risk
      will
      pass from Seller to Buyer when the Alumina passes over the ship’s rail at the
      port of loading.

    

    
      	15.	
              DETERMINATION
                OF WEIGHT

            

    

     

    Seller
      shall, at its cost, arrange for the determination of the weight of the shipload
      at the load
      port by
      means of draft survey from an
      independent surveyor before commencement and after completion of loading and
      shall obtain a certificate of weight from an independent qualified marine
      surveyor. The determined weight shall be reported on the Bill of Lading and
      for
      all purposes will be final, binding and conclusive as to the weight of the
      shipload. Buyer shall have the right to have a representative present at such
      weight determination at Buyer’s expense.

    

    
      	16.	
              SAMPLING

            

    

     

    Seller
      shall, at its cost, arrange for the Producer
      to take
      a bulk sample of the Alumina from the shipload in accordance with the Producer’s
      standard procedures and divide it into three
      (3)
      equal
      parts. Each of those samples shall be placed in a sealed sample container.
      A
      label showing Seller’s name, name of vessel, weight of the shipload and Bill of
      Lading date shall be affixed to each sample container. One sample shall be
      delivered to Buyer (along with a report of the analysis), and two shall be
      retained by Seller or Producer,
      one for
      its own analysis and one for a referee analysis, in case such analysis is
      required by either party. Buyer shall have the right to have a representative
      present at such sampling at Buyer’s expense.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	17.	
              ANALYSIS

            

    

    

    
      	17.1	
              Seller
                shall, at its cost, arrange for analysis of its own alumina samples
                taken
                pursuant to Clause
                16
                above,
                in accordance with
                the Producer’s
                customary analysis
                procedures. Unless a referee analysis is carried out in accordance
                with
                Clause
                18 below, Seller's sample analysis
                shall be final, binding and conclusive on the parties
                hereto.

            

    

    

    
      	17.2	
              The
                Alumina shall be deemed to conform
                to
                the applicable Specifications unless Buyer notifies Seller within
                30
                (thirty)
                days
                of receipt of the Alumina that said Alumina does not conform to the
                Specifications and the nature of the non-conformity. Within 14
                (fourteen)
                days
                of receipt of any notice of non-conformity, Seller shall advise Buyer
                whether or not it accepts that the relevant Alumina does not conform
                with
                the applicable Specifications.

            

    

    

    
      	18.	
              REFEREE
                ANALYSIS

            

    

    

    In
      case
      of disagreement between Buyer and Seller about the conformity
      of any
      Alumina supplied under this Agreement,
      then at
      the request of either party the sample retained by Seller/Producer
      for
      referee analysis shall be analysed in accordance with the Producer’s
      standard analysis procedures by a laboratory mutually agreed upon by the parties
      (or, failing agreement, Societe Generale de Surveillance SA), and the analysis
      of such laboratory shall be final, binding and conclusive on the parties. Each
      party shall be entitled (at its own cost) to be represented during such referee
      analysis. The cost of the said analysis will be borne by the party whose results
      differ most from those given by the referee laboratory.

    

    
      	19.	
              FAILURE
                TO MEET SPECIFICATIONS

            

    

    

    
      	19.1	
              If
                any Alumina delivered hereunder does not meet the Specifications
                (“Non-Conforming Alumina”), Buyer and Seller will endeavour to reach
                agreement on what actions should be taken with respect thereto. If
                and to
                the extent that Buyer and Seller reach any agreement with respect
                to any
                action to be taken with respect to any Non-Conforming Alumina, the
                provisions of this Section shall be deemed to be modified accordingly
                (but
                only to the extent necessary to reflect such agreement and only in
                respect
                of such Non-Conforming Alumina). 

            

    

    

    
      	19.2	
              In
                respect of any Non-Conforming Alumina delivered hereunder, Buyer
                shall
                have the option to: 

            

    

    

    
      	
            	(a)	
              nevertheless
                take delivery subject to payment to Buyer by Seller of compensation
                as
                hereinafter provided. The parties shall confer in an endeavour to
                agree
                upon the compensation to be paid to Buyer by Seller to compensate
                Buyer
                for any loss in value of the alumina attributable to the alumina
                not
                meeting the Specifications. If the parties are unable to agree upon
                an
                amount of compensation payable by Seller, the question shall be referred
                to arbitration pursuant to Clause 22
                and in that arbitration the arbitrators shall be bound by the provisions
                of this clause and clauses
                28 and 29 below; or 

            

    

    

    
      	
            	(b)	
              promptly
                reject the Alumina by giving written notice to Seller. If Buyer
                elects
                to reject any Non-Conforming
                Alumina:

            

    

    

    
      	
            	(i)	
              title
                to such Non-Conforming Alumina shall revert to Seller on the date
                on which
                Buyer gives
                notice thereof;
                provided that risk of loss of such Non-Conforming Alumina shall remain
                with Buyer until Buyer ships, disposes of or otherwise deals with
                the
                Non-Conforming Alumina as directed
                by Seller (acting reasonably);

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
            	(ii)	
              Seller
                shall refund any amount paid by Buyer for such Non-Conforming
                Alumina;

            

    

    

    
      	
            	(iii)	
              upon
                receipt by Buyer of the
                amounts
                required pursuant to clause (iv)
                below, Buyer will ship, dispose of or otherwise deal with the
                Non-Conforming Alumina in such manner as may be directed by Seller
                (acting
                reasonably);
                and

            

    

    

    
      	
            	(iv)	
              Seller
                shall reimburse Buyer for (i) all shipping, insurance and other
                out-of-pocket direct costs reasonably incurred and documented by
                Buyer in
                carrying out the directions of Seller;
                and (ii) the Replacement Losses if any, (as defined in
                clause 19.3 below)
                incurred by Buyer in procuring alumina from third parties as a substitute
                for Non-Conforming Alumina;
                or

            

    

    

    
      	
            	(c)	
              Seller
                and Buyer may agree for a replacement cargo to be delivered to Buyer
                on
                terms to be agreed.

            

    

    

    
      	19.3	
              “Replacement
                Losses” shall mean
                the excess, if any, of the
                purchase price,
                transportation, insurance and freight costs actually incurred by
                Buyer,
                acting reasonably, in procuring alumina from third parties as a substitute
                for the Non-Conforming Alumina and
                the
                purchase price,
                transportation, insurance and freight costs Buyer would have paid
                to
                obtain Alumina
                in
                accordance with the terms of this Agreement.
                The precise amount payable in respect of Replacement Losses shall
                be
                determined
                (i)
                by
                Buyer acting reasonably, with a statement of such Losses and copies
                of
                calculations, invoices and the methodology in respect of Buyer’s
                determination of such Losses provided by Buyer in writing to Seller
                not
                later than the 30th
                day after the date on which such Alumina is finally determined to
                be
                Non-Conforming Alumina in accordance with this Agreement, and (ii)
                confirmed in writing by Seller within 10 Business
                Days of receipt, failing which either party may refer such determination
                to arbitration pursuant to Clause 22.

            

    

    

    
      	19.4	
              In
                respect of any Non-Conforming Alumina delivered hereunder,
                Buyer shall use its commercially reasonable efforts to
                utilize the remedy specified in Clause 19.2 (a) above. Should this
                remedy
                not be possible, despite Buyers best efforts to do so, then Buyer
                may
                elect one of the above remeidies specified in Clause 19.2 (b).
                If
                Buyer fails to make any election hereunder, the Non-Conforming Alumina
                shall be deemed for the
                purposes of this Agreement to meet the
                Specifications.

            

    

    

    
      	19.5	
              The
                remedies conferred on Buyer in respect of any Non-Conforming Alumina
                delivered hereunder shall be the sole and exclusive remedies of Buyer
                against
                Seller in
                respect of such Non-Conforming Alumina and, except as expressly set
                out in
                this Clause
                19, Seller shall not be liable to Buyer or
                any of its affiliates (whether
                in contract, tort or otherwise) for any loss or damage of any nature
                arising out of such Non-Conforming Alumina.

            

    

    

    
      	20.	
              FORCE
                MAJEURE

            

    

    

    
      	20.1	
              “Force
                Majeure” means any cause or event reasonably beyond the control of a
                party, including, but not limited to fires, earthquakes, lightning,
                floods, explosions, storms, landslides and other acts of natural
                calamity
                or acts of god; navigational accidents or maritime peril; vessel
                damage or
                loss; strikes, grievances, actions by or among workers or lock-outs
                (whether or not such labour difficulty could be settled by acceding
                to any
                demands of any such labour group of individuals); accidents at, closing
                of, or restrictions upon the use of mooring facilities, docks, ports,
                harbours, railroads or other navigational or transportation mechanisms;
                disruption or breakdown of, storage plants, terminals, machinery
                or other
                facilities (except to the extent such disruption or breakdown is
                caused by
                the wilful misconduct or gross negligence of Seller); acts of war,
                hostilities (whether declared or undeclared), civil commotion, embargoes,
                blockades, terrorism, sabotage or acts of the public enemy; any act
                or
                omission of any governmental authority; good faith compliance with
                any
                order, request or directive of any governmental authority; curtailment,
                interference, failure or cessation of supplies beyond the reasonable
                control of a party; or any other cause beyond the reasonable control
                of a
                party, whether similar or dissimilar to those above and whether
                foreseeable or unforeseeable, which, by the exercise of due diligence,
                such party could not have been able to avoid or overcome. A party’s
                inability economically to perform its obligations under this Agreement
                or
                financial hardship shall not constitute an event of Force
                Majeure.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	20.2	
              Subject
                to the terms of this Agreement, neither party shall be liable to
                the other
                if it is rendered unable by an event of Force Majeure to perform
                in whole
                or in part any obligation or condition of this Agreement, except
                for any
                payment or indemnification obligations, for so long as the event
                of Force
                Majeure exists and to the extent that performance is prevented or
                delayed
                by the event of Force Majeure; provided, however, that:

            

    

    

    
      	
            	(a)	
              the
                party prevented from performing shall use reasonable
                efforts
                to
                avoid or remove the event of Force Majeure,
                including, without limitation, if
                Seller declares a
                Force
                Majeure
                in
                good faith
                in
                relation to an origin which has
                been accepted or deemed to have been accepted under clause
                4 above, then the Seller shall use reasonable efforts to source an
                alternative cargo to that originally affected by the Force Majeure
                and
                the
                time for performance of this Agreement shall be extended until the
                earlier
                of the duration of the Force Majeure event and the time reasonably
                necessary for Seller to
                source an
                alternative cargo to that originally affected by the Force Majeure;
                

            

    

    

    
      	
            	(b)	
              the
                settlement of strikes or other events of labour unrest shall
                lie
                entirely within the discretion of the party having the difficulty
                and
                such
                party shall
                not be required to settle such strikes or labour unrest by acceding
                to the
                demands of the opposing party when such course of action is deemed
                inadvisable by
                the party having the difficulty;
                and

            

    

    

    
      	
            	(c)	
              if
                any Force Majeure limits rather
                than prevents Seller’s
                production or delivery of Alumina
                then
                Seller shall be obligated to deliver to Buyer, on a proportional
                basis,
                such
                quantity from the actually produced or deliverable total quantity,
                in the
                proportion of
                Seller’s annual commitment to Buyer and Seller’s total combined annual
                commitment to all the purchasers under Seller’s sales agreements with
                respect to the sale and delivery of Alumina in effect during the
                period of
                such Force Majeure.

            

    

     

    
      	20.3	
              During
                the period that performance by one of the parties of a part or whole
                of
                its obligations has been suspended by reason of an event of Force
                Majeure,
                the other party likewise may suspend the performance of all or a
                part of
                its obligations to the extent that such suspension is commercially
                reasonable, except for any payment and indemnification
                obligations.

            

    

     

    
      	20.4	
              The
                party rendered unable to perform shall give prompt (and in any event
                to
                the extent practicable, within one Business
                Day after becoming aware of
                the Force Majeure event)
                written notice to the other party of the occurrence of a Force Majeure
                event, including, to the extent feasible, the details,
                the expected duration and
                the volume of products affected. Such party also shall promptly notify
                the
                other when the event of Force
                Majeure
                is
                terminated. 

            

    

     

    
      	20.5	
              Upon
                a Force Majeure affecting Seller, Buyer may elect to either:
                

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(a)	
              in
                circumstances where the inability of Seller to deliver Alumina to
                Buyer
                would in the reasonable opinion of Buyer lead to a situation whereby
                the
                stocks of alumina at Buyer’s (or
                Buyer’s affiliate’s) smelter
                would reach critically low levels, Buyer may, upon written notice
                to
                Seller purchase from other suppliers any or all of the quantities
                of
                alumina
                which Seller is or expects to be unable to deliver and
                (i) Seller
                shall not be liable to Buyer for any cost, expense or loss whatsoever
                of
                Buyer arising out of any purchase Buyer may make from other suppliers;
                (ii)
                Buyer
                shall give Seller written notice of any such purchase
                (the “Covered Alumina”),
                the amount of which shall be deducted from the quantity to
                be purchased during
                the Contract Period in which Buyer makes such purchase
                and (iii) Seller’s obligation to source an alternative supply under clause
                20.2(a) shall cease with respect to the Covered Alumina;
                or

            

    

     

    
      	
            	(b)	
              extend
                the term of this Agreement to the extent that Seller has invoked
                this
                provision (in which case
                the price for Alumina in effect for the extended term shall be the
                same as
                the price in effect for Alumina scheduled to be delivered but not
                delivered during the Force
                Majeure).

            

    

    

    
      	20.6	
              Upon
                a Force Majeure affecting Buyer, Seller may elect to
                either:

            

    

    

    
      	
            	(a)	
              sell
                to other buyers the Alumina which Buyer is or expects to be unable
                to
                accept, and Buyer shall not be liable to Seller for any cost, expense
                or
                loss arising out of any such sales; Seller shall give Buyer written
                notice
                of any such sale, the amount of which shall be deducted from the
                quantity
                purchased
                during
                the Contract Period in which Seller makes such sale; or
                

            

    

    

    
      	
            	(b)	
              extend
                the term of this Agreement to the extent that Buyer has invoked this
                provision (in
                which case
                the price for Alumina in effect for the extended term shall be the
                same as
                the price in effect for Alumina scheduled to be delivered but not
                delivered during the Force Majeure).

            

    

    

    
      	20.7	
              Notwithstanding
                the foregoing provisions, upon a Force Majeure which
                continues
                for a period of six consecutive months or more, then:

            

    

    

    
      	
            	(a)	
              for
                a Force Majeure affecting Buyer, Seller may, elect at any time thereafter
                to terminate this Agreement to the extent of the deliveries of Alumina
                affected by the Force Majeure,with immediate effect, provided that
                the
                Force Majeure is continuing as of the date of such notice, by sending
                a
                written notice to Buyer as provided in this Agreement announcing
                exercise
                of such right of termination;

            

    

    

    
      	
            	(b)	
              for
                a Force Majeure affecting Seller, Buyer may elect at any time thereafter
                to terminate this Agreement to the extent of the deliveries of Alumina
                affected by the Force Majeure, with immediate effect, provided that
                the
                Force Majeure is continuing as of the date of such notice, by sending
                a
                written notice to Seller as provided in this Agreement announcing
                exercise
                of such right of termination

            

    

    

    Alternatively,
      the
      party
      not affected by the Force
      Majeure may continue to exercise its rights as set forth above,
      as
      applicable, and not exercise the right of termination provided in this
      clause.

    

    
      	21.	
              GOVERNING
                LAW/JURISDICTION

            

    

    

    This
      agreement shall be subject to and construed under the laws of the State of
      New
      York, excluding the rules of conflicts or choice of law and excluding the United
      Nations Convention on Contracts for the International Sale of Goods.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	22.	
              ARBITRATION
                / DISPUTE RESOLUTION

            

    

     

    Any
      controversy, dispute, or claim arising out of or relating to this Agreement,
      or
      the breach thereof, shall be settled by arbitration administered by the American
      Arbitration Association under its Commercial Arbitration Rules, and judgement
      on
      the award rendered by the arbitrators may be entered in any court having
      jurisdiction thereof. There shall be three arbitrators, and the arbitration
      shall be conducted in the English language in New York, New York,
      U.S.A.

     

    
      	23.	
              TAXES
                AND TARIFFS

            

    

    

    
      	23.1	
              Any
                taxes, tariffs and duties whether existing or new on the Alumina
                or on
                commercial documents relating thereto or on the cargo itself, imposed
                in
                the country of origin shall be borne by
                Seller.

            

    

    

    
      	23.2	
              Any
                taxes, tariffs and duties whether existing or new on the Alumina
                or on
                commercial documents relating thereto or on the cargo itself, imposed
                in
                the country of discharge and/or the importing country shall be borne
                by
                Buyer.

            

    

     

    
      	24.	
              LICENSES

            

    

    

    
      Buyerundertakes
        that all the necessary import licences and all other authorisations required
        for
        the alumina have been obtained (and/or will be obtained) for the entire quantity
        covered by this Agreement. Buyer furthermore guarantees that such licences
        will
        remain in force for the Term.

    

    

    
      	25.	
              ASSIGNMENT/THIRD
                PARTY RIGHTS

            

    

    

    
      	25.1	
              Without
                the prior written consent of the other party, which consent shall
                not be
                unreasonably withheld, or delayed, neither party may assign its rights
                or
                obligations under this Agreement in full or in part, except
                that:

            

    

    

    
      
        
          	
                	(a)	
                  Seller
                    and its
                    assigns may without such consent assign all or a portion of their
                    rights
                    to receive and obtain payment under this Agreement in connection
                    with
                    securitisation or bank funding arrangements including the arbitration
                    and
                    law clauses herein;
                    and 

                

        

      

    

    
      
        
          	
                	
                  (b)

                	
                  Buyer
                    and its assigns may without such consent assign all or a portion
                    of their
                    rights under this Agreement to any wholly owned, direct or indirect,
                    subsidiary of Buyer. 

                

        

      

    

    

    
      	25.2	
              Any
                assignment under clause 25.1(a)
                above will not detract from Seller’s obligations under this
                Agreement.

            

    

    

    
      	25.3	
              Any
                purported assignment under clause 25.1(b) will only be valid upon
                Buyer
                providing a guarantee for the obligations of the proposed assignee
                in a
                form reasonably acceptable to
                Seller.

            

    

    

    
      	25.4	
              Except
                as expressly provided in this
                clause,
                a
                person who is not a party to this contract has no right under the
                Contracts (Rights of Third Parties) Act 1999 (“the Act”) to enforce any
                term of this contract but this does not affect any right or remedy
                of a
                third party which exists or is available apart from the
                Act.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	26.	
              FAILURE
                TO ACCEPT DELIVERY AND FAILURE TO
                DELIVER

            

    

     

    
      	26.1	
              If
                Buyer fails to accept delivery for any reason other than
                Force Majeure, Seller shall be entitled to (i) sell to other buyers
                the
                  Alumina which Buyer is or appears to be unable to accept, in which
                event
                Buyer shall be liable to Seller for any loss, including any loss
                of
                purchase price and any such transportation, insurance and freight
                costs
                actually incurred by Buyer, acting reasonably, in selling alumina
                to third
                parties in excess of such transportation, insurance and freight costs
                Seller would have incurred in accordance with the terms of this Agreement;
                or (ii) extend the term of this Agreement. If Seller elects to extend
                the
                term of this Agreement, the price for Alumina in effect for the extended
                term shall be the same as the price in effect for Alumina scheduled
                to be
                delivered but which Buyer was unable to accept. Buyer shall give
                Seller
                written notice immediately upon anticipating an inability to accept
                delivery. Buyer’s liability for failure to accept
                shall be limited to that
                portion
                of
                the quantity of Alumina which Buyer is unable to
                accept.

            

    

    

    
      	26.2	
              If
                Seller fails to deliver for any reason other than Force Majeure,
                Buyer
                shall be entitled to (i) purchase from other sellers the quantity
                of
                alumina which Seller is or appears to be unable to deliver, in which
                event
                Seller shall be liable to Buyer for the excess, if any, of the purchase
                price, transportation, insurance and freight costs actually incurred
                by
                Buyer, acting reasonably, in procuring alumina from third parties
                as a
                substitute for the Alumina and the purchase price, transportation,
                insurance and freight costs Buyer would have paid to obtain Alumina
                in
                accordance with the terms of this Agreement; or (ii) extend the term
                of
                this Agreement. If Buyer elects to extend the term of this Agreement,
                the
                price for Alumina in effect for the extended term shall the same
                as the
                price in effect for Alumina scheduled to be delivered but which Seller
                was
                unable to deliver. Seller shall give Buyer written notice immediately
                upon
                anticipating an inability to deliver. Seller’s liability for failure to
                deliver shall be limited to that portion of the quantity of Alumina
                which
                Seller is unable to deliver.

            

    

    

    
      	27.	
              DEFAULT

            

    

    

    
      
        	27.1	
                An
                  event of default (“Event
                  of Default”)
                  with respect to a party (the “Defaulting
                  Party”)
                  shall mean any of the following:

              

      

    

    

    
      	
            	(a)	
              the
                failure of the Defaulting Party to pay when due any
                payment
                required under
                this Agreement within 10 Banking Days after written notice thereof;
                

            

    

    

    
      	
            	(b)	
              except
                to the extent covered by clauses 19
                and 26,
                the failure of the Defaulting Party to comply in all material respects
                with its other material obligations under this Agreement and such
                failure
                remains uncured for 10 Banking Days after written notice thereof;
                

            

    

    

    
      	
            	(c)	
              any
                representation or warranty made by the Defaulting Party under this
                Agreement shall prove to be untrue in
                any material respect;

            

    

     

    
      	
            	(d)	
              the
                Defaulting Party (i)
                makes an assignment or any general arrangement for the benefit of
                creditors, (ii)
                files a petition or otherwise commences, authorizes or acquiesces
                in the
                commencement of a proceeding or cause of action under any bankruptcy
                or
                similar law for the protection of creditors, or has such a petition
                filed
                against it and such petition is not withdrawn or dismissed for 30
                days
                after such filing, (iii)
                otherwise becomes bankrupt or insolvent (however evidenced), (iv)
                is unable to pay its debts as they fall due, makes a composition
                with its
                creditors, commits any act of bankruptcy, becomes subject to an order
                for
                winding up or dissolution or to the appointment of an administrator,
                examiner, receiver, custodian, liquidator, trustee or other similar
                official; or

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(e)	
              The
                occurrence of a material adverse change in the financial standing
                or
                creditworthiness of the Buyer when
                compared to the Buyer's financial
                standing as at the date of the contract which change, in the reasonable
                opinion
                of the Seller, affects Buyer's ability
                to perform its financial obligations in respect of this
                Agreement
                (including any other transactions between the parties), and the Buyer
                fails to provide or procure reasonable security in the form of, inter
                alia, a guarantee, letter of credit or other credit support in a
                form
                acceptable to the Seller for the performance of its financial obligations
                to the Seller in respect of this
                Agreement
                within three (3) Banking Days of the Seller's request therefor.
                

            

    

    

    
      	27.2	
              Upon
                the occurrence and during the continuation of an Event of Default,
                the
                other party (the "Non-Defaulting
                Party")
                may in its sole discretion:

            

    

    

    
      	
            	(a)	
              notify
                the Defaulting Party of an early termination date (which shall be
                no
                earlier that the date of such notice) on which this Agreement and
                the
                transactions contemplated hereunder shall terminate (the "Early
                Termination Date");

            

    

    

    
      	
            	(b)	
              withhold
                any payments due to the Defaulting Party until such Event of Default
                is
                cured; and/or

            

    

    

    
      	
            	(c)	
              suspend
                performance of its obligations under this Agreement until such Event
                of
                Default is cured. If a notice of an Early Termination Date is given
                under
                this Section, the Early Termination Date will occur on the designated
                date
                whether or not the relevant Event of Default is then
                continuing.

            

    

    

    
      	27.3	
              Once
                an Early
                Termination Date is established, the Non-Defaulting Party shall in
                good
                faith calculate its Losses, resulting from the termination of the
                transactions(s) contemplated hereunder (the “Terminated Transaction(s)”),
                aggregate such Losses with respect to the Terminated Transaction
                into a
                single net amount, and then notify the Defaulting Party of the net
                amount
                owed or owing. The Non-Defaulting Party will calculate its Losses
                as of
                the Early Termination Date, or, if that is not reasonably practicable,
                as
                of the earliest date thereafter that is reasonably practicable. If
                the
                Non-Defaulting Party’s aggregate losses and costs
                exceed its aggregate gains,
                the Defaulting Party shall, within 10 Banking Days of its receipt
                of such
                notice pay the net amount to the Non-Defaulting Party, including
                interest
                at a rate of 1.5% per month from the Early Termination Date until
                paid,
                plus any other amounts due and owing under this Agreement to
                the Non-Defaulting Party. If the Non-Defaulting Party’s aggregate gains
                exceed its aggregate losses and costs, if any, resulting from such
                early
                termination, the Non-Defaulting Party shall, after giving effect
                to any
                set
                off
                rights, pay the net amount without interest to the Defaulting Party
                on the
                date 10 Banking Days after the Early Termination Date.
                

            

    

    

    
      	27.4	
              If
                an Event of Default occurs and/or an Early Termination Date is
                established, the Non-Defaulting Party may (at its election) set
                off
                any or all amounts which the Defaulting Party owes to the Non-Defaulting
                Party under
                this Agreement
                against any or all amounts which the Non-Defaulting owes to the Defaulting
                Party under
                this Agreement.
                Notwithstanding
                any provision to the contrary contained in this Agreement, the
                Non-Defaulting Party shall not be required to pay to the Defaulting
                Party
                any net amount due to an early termination until the Non-Defaulting
                Party
                receives confirmation satisfactory to it in its reasonable discretion
                that
                (i) all amounts due and payable as of the Early Termination Date
                by the
                Defaulting Party under all transactions, under this Agreement, or
                otherwise with the Non-Defaulting Party have
                been fully and finally paid, and (ii) all other obligations of any
                kind
                whatsoever of the Defaulting Party to make any payments to the
                Non-Defaulting Party or any of its affiliates under this Agreement
                or
                otherwise which are due and payable as of the Early Termination Date
                have
                been fully and finally performed.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	27.5	
              Each
                party stipulates that the payment obligations set forth in this
                section
                for the damages incurred are a reasonable approximation of the anticipated
                harm or loss and acknowledges the difficulty of estimation of actual
                damages, and each party hereby waives the right to contest such payments
                as unenforceable, a penalty or otherwise. Neither party shall be
                entitled
                to recover any additional damages as a consequence of such harm or
                loss.

            

    

    

    
      	28.	
              LIMITED
                WARRANTY

            

    

    

    Any
      express or implied condition, warranty, term, guarantee or representation,
      statutory or otherwise, not expressly stated in this Agreement is hereby
      excluded.

    

    
      	29.	
              INDIRECT
                LOSSES

            

    

    

    Neither
      Seller nor Buyer shall be liable, whether in contract or in tort or otherwise,
      for indirect, consequential or special damages or losses of whatsoever nature,
      however caused
      and
      whether or not a party knew of the possibility of such damages.

     

    
      	30.	
              SUSPENSION
                OF QUOTATIONS

            

    

    

    
      	30.1	
              The
                metal prices and currency quotations specified under this Agreement
                are
                the quotations in general use for the pricing of the Alumina.

            

    

    

    
      	30.2	
              If
                any of these price quotations cease to exist or cease to be published
                or
                should no longer be internationally recognised as the basis for the
                settlement of concentrates contracts
                (a
                "Market Disruption Event"),
                then upon the request of either party, Buyer and Seller will promptly
                use
                the following methods to agree on a new pricing
                basis:

            

    

     

    
      	
            	(a)	
              Negotiated
                Fallback:
                which means that each party will, promptly upon becoming aware of
                the
                Market Disruption Event, negotiate in good faith to agree with the
                other
                on a relevant price (or a method for determining a relevant price),
                and,
                if the parties have not so agreed on or before the fifth Business
                Day
                following the date
                of the Market Disruption Event, clause (b) below
                shall apply.

            

    

    

    
      	
            	(b)	
              Dealer
                Fallback:
                which means that
                the parties shall expeditiously and jointly and in good faith agree
                on
                three independent leading dealers in the principal trading market
                for the
                relevant underlying commodity market from
                among those dealers with the highest credit standing.
                Such dealers shall be appointed to make a determination of the
                reasonable
                price payable for the shipments to be made under this
                Agreement
                taking into consideration the latest available quotation for the
                relevant
                commodity
                and any other information that, in good faith, they deem relevant.
                The
                price
                to be paid under this Agreement
                shall be the arithmetic mean of the three prices
                determined by
                such dealers, in which case such calculation shall be binding and
                conclusive absent manifest error. If the parties have not agreed
                upon the
                appointment of the dealers on or before the sixth Business Day following
                the day on which this clause
                becomes applicable, or if a determination of the price
                cannot be obtained from at least three dealers, then
                the dispute shall be referred to arbitration in accordance with clause
                22.

            

    

    

    
      	31.	
              INCOTERMS

            

    

    

    Insofar
      as not inconsistent herewith INCOTERMS 2000 (and any later amendments thereto)
      shall apply to this Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	32.	
              CHANGE
                OF EVENT

            

    

    

    In
      the
      event of any actual or prospective change in the organisation, control or
      management of Buyer, including without limitation, a change to the majority
      shareholding or privatisation or equivalent process of Buyer, this Agreement
      will not be changed or in any way modified and shall continue in full force
      and
      affect. 

    

    
      	33.	
              NOTICES

            

    

    

    All
      notices, requests and other communications hereunder shall be in writing and
      shall be deemed to have been duly given or made when sent by first class mail,
      postage paid, or via telex or telefax addressed to:

    

    Century
      Aluminum Company

    2511
      Garden Road, Building A, Suite 200, Monterey, CA 93940

    Telefax
      No :
      (831)
      642-9964

    Telephone
      No: (831) 642-9300

    Attention:
      General Counsel

    

    Century
      Aluminum Company

    P.O.
      Box
      500, 1627 State Route 271 N., Hawesville, KY 42348

    Telefax
      No :
      (270)
      852-2882

    Telephone
      No: (270) 852-2816

    Attention:
      Director of Purchasing

    

    Glencore
      AG (Please insert proper details)

    

    
      	34.	
              LANGUAGE

            

    

    

    This
      Agreement is prepared in English and the English language shall be authoritative
      and final.

    

    
      	35.	
              ENTIRE
                AGREEMENT

            

    

    

    This
      Agreement constitutes the entire agreement between the parties with respect
      to
      the subject-matter hereof and supersedes any previous agreements between the
      parties relating to the subject-matter. Each party acknowledges and represents
      that it has not relied on or been induced to enter into this Agreement by any
      representation, warranty or undertaking other than those expressly set out
      in
      this Agreement. A party is not liable to the other party for a representation,
      warranty or undertaking of whatsoever nature that is not expressly set out
      in
      this Agreement.

    

    
      	36.	
              REPRESENTATIONS
                AND WARRANTIES

            

    

    

    Each
      party represents and warrants to the other that:

    

    
      	36.1	
              Status: 
                it
                is duly organized under the laws of the jurisdiction of its formation
                and
                each possesses the capacity to sue and be sued in its own name and
                has the
                power to carry on its business and to own its property and other
                assets;

            

    

    

    
      	36.2	
              Power
                and authority: 
                it
                has the power to execute, deliver and perform its obligations under
                this
                Agreement and any related agreements and to carry out the transactions
                contemplated by those documents and all necessary corporate, shareholder
                and other action has been or will be taken to authorise the execution,
                delivery and performance of the
                same;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	36.3	
              Binding
                obligations: 
                its obligations under this Agreement and any related agreements constitute
                their legal, valid, binding and enforceable
                obligations;

            

    

    

    
      	36.4	
              Contraventions: 
                the execution, delivery and performance by it of this Agreement does
                not:

            

    

    

    
      	
            	(a)	
              contravene
                any applicable law or regulation or any order of any governmental
                or other
                official authority, body or agency or any judgment, order or decree
                of any
                court having jurisdiction over it;

            

    

    

    
      	
            	(b)	
              conflict
                with, or result in any breach of any of the terms of, or constitute
                a
                default under, any agreement or other instrument to which it is a
                party or
                any license
                to
                which it is subject or by which it or any of its property is bound;
                or

            

    

    

    
      	
            	(c)	
              contravene
                or conflict with its constitutional
                documents;

            

    

    

    
      	36.5	
              Insolvency: 
                neither it nor any of its
                affiliates has taken any action nor have any steps been taken (including
                the presentation of a petition or the filing or service of a notice)
                or
                legal procedures been started or threatened against it for winding-up,
                dissolution or reorganisation, the enforcement of any encumbrance
                over its
                assets or for the appointment of a receiver, administrative receiver,
                or
                administrator, trustee, regulator, supervisor or similar officer
                of it or
                of any of its assets;

            

    

    

    
      	36.6	
              No
                default: 
                Neither it nor any of it’s affiliates is (nor would be with any of the
                giving of notice, the lapse of time, the determination of materiality,
                or
                the satisfaction of any other condition) in breach of or in default
                under
                any agreement to which it is a party or which is binding on it or
                any of
                its assets in a manner or to an extent which could reasonably be
                expected
                to have a material adverse effect;
                and

            

    

    

    
      	36.7	
              Litigation: 
                no
                action, litigation, arbitration or administrative proceeding has
                been
                commenced, or is pending or threatened, against it or any of it’s
                affiliates which, if decided adversely, could reasonably be expected
                to
                have a material adverse effect and nor is there subsisting any unsatisfied
                judgment or award given against it or any of it’s affiliates by any court,
                arbitrator or other body.

            

    

    

    
      	37.	
              ILLEGALITY/SEVERABILITY

            

    

    

    If
      any
      provision of this Agreement is or becomes illegal, invalid or unenforceable
      in
      any jurisdiction, that shall not affect the legality, validity or enforceability
      in that jurisdiction of any other provision of this Agreement; or the legality,
      validity or enforceability in any other jurisdiction of that or any other
      provision of this Agreement.

    

    
      	38.	
              NO
                WAIVER OF RIGHTS

            

    

     

    A
      failure
      or delay in exercising any right, power or privilege in respect of this
      Agreement will not be presumed to operate as a waiver, and a single or partial
      exercise of any right, power or privilege will not be presumed to preclude
      any
      subsequent or further exercise, of that right, power or privilege or the
      exercise of any other right, power or privilege.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF
      the
      parties have executed this Agreement
      as of
      the respective dates specified below with effect from the Effective Date
      specified on the first page of this Agreement.

    Accepted:

    
 

    
      	 	 	 	 
	/s/ Robert
              R.
              Nielsen	 	 	/s/
              Rolf Rickenbacker
	
              
Century
              Aluminum of West Virginia, Inc	 	 	
              
Glencore
              AG
	 	 	 	 
	Place and
              Date: As
              of April 26, 2006.	 	 	Place and
              Date:
              April 26, 2006

    

    

    

    *PORTIONS
      OF THIS EXHIBIT (MARKED BY AN ASTERISK) HAVE BEEN OMITTED AND FILED SEPARATELY
      WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO THE
      AN
      APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24B-2 OF THE SECURITIES
      EXCHANGE ACT OF 1934, AS AMENDED.

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