Document:

Exhibit 10.32

 

SECURITIES PURCHASE
AGREEMENT

 

This Securities Purchase
Agreement (this “Agreement”) is dated as of February [__], 2020, between Can-Fite BioPharma Ltd., a company
organized under the laws of Israel (the “Company”), and each purchaser identified on the signature pages hereto
(each, including its successors and assigns, a “Purchaser” and collectively the “Purchasers”).

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act
(as defined below), the Company desires to issue and sell to each Purchaser, and each Purchaser, severally and not jointly, desires
to purchase from the Company, securities of the Company as more fully described in this Agreement.

 

NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and
adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE I.

DEFINITIONS

 

1.1 Definitions.
In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the
meanings set forth in this Section 1.1:

 

“Acquiring
Person” shall have the meaning ascribed to such term in Section 4.5.

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(j).

 

“ADS(s)”
means American Depositary Shares issued pursuant to the Deposit Agreement (as defined below), each representing thirty (30) Ordinary
Shares.

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Board
of Directors” means the board of directors of the Company.

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States, a
legal holiday in the State of Israel or any day on which banking institutions in the State of New York or in the State of Israel
are authorized or required by law or other governmental action to close; provided, however, that, for calculating Business Days
with respect to any action to be taken by the Company hereunder, Friday after 1:00 p.m. (Tel Aviv time) shall not be considered
a Business Day.

 

“Class
A Units” means each Class A unit consisting of (a) one Share, and (b) one Series A Warrant to purchase one (1) Series
A Warrant Share.

 

“Class
A Unit Purchase Price” equals $[___ per each Class A Unit, subject to adjustment for reverse and forward share splits,
share dividends, share combinations and other similar transactions of the Ordinary Shares that occur after the date of this Agreement
and prior to the Closing Date.

 

“Class
B Units” means each Class B unit consisting of (a) one Pre-Funded Warrant to initially purchase one Pre-Funded Warrant
Share, and (b) one Series A Warrant to purchase one (1) Series A Warrant Share.

 

“Class
B Unit Purchase Price” equals $[____ per each Class B Unit, subject to adjustment for reverse and forward share splits,
share dividends, share combinations and other similar transactions of the Ordinary Shares that occur after the date of this Agreement
and prior to the Closing Date.

 

     

     

    

 

“Closing”
means the closing of the purchase and sale of the Securities pursuant to Section 2.1.

 

“Closing
Date” means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable
parties thereto, and all conditions precedent to (i) the Purchasers’ obligations to pay the Subscription Amount and (ii)
the Company’s obligations to deliver the Securities, in each case, have been satisfied or waived, but in no event later than
the second (2nd) Trading Day following the date hereof.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Deposit
Agreement” means the Deposit Agreement dated as of September 19, 2012, as amended and restated as of September 11, 2013,
among the Company, The Bank of New York Mellon as Depositary and the owners and holders of ADSs from time to time, as such agreement
may be amended or supplemented.

 

“Depositary”
means The Bank of New York Mellon, as Depositary under the Deposit Agreement.

 

“Disclosure
Time” means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City time)
and before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following
the date hereof, unless otherwise instructed as to an earlier time by the Placement Agent, and (ii) if this Agreement is signed
between midnight (New York City time) and 9:00 a.m. (New York City time) on any Trading Day, no later than 9:01 a.m. (New York
City time) on the date hereof, unless otherwise instructed as to an earlier time by the Placement Agent.

 

“Disclosure
Schedules” means the Disclosure Schedules of the Company delivered concurrently herewith.

 

“Evaluation
Date” shall have the meaning ascribed to such term in Section 3.1(r).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Exempt
Issuance” means the issuance of (a) ADSs, Ordinary Shares or options to employees, officers, or directors of the Company
pursuant to any share or option plan in existence as of the date hereof, (b) ADSs or Ordinary Shares upon the exercise or exchange
of or conversion of securities exercisable or exchangeable for or convertible into ADSs or Ordinary Shares issued and outstanding
on the date of this Agreement, provided that such securities have not been amended since the date of this Agreement to increase
the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities or to extend
the term of such securities, (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of
the disinterested directors of the Company, provided that such securities are issued as “restricted securities” (as
defined in Rule 144) and carry no registration rights that require or permit the filing of any registration statement in connection
therewith during the prohibition period in Section 4.12(a) herein, and provided that any such issuance shall only be to a Person
(or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset
in a business synergistic with the business of the Company and shall provide to the Company additional benefits in addition to
the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose
of raising capital or to an entity whose primary business is investing in securities and (d) issuances of restricted ADSs or restricted
Ordinary Shares to consultants of the Company, provided that such securities are issued as “restricted securities”
(as defined in Rule 144) and carry no registration rights.

 

“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended.

 

“FDA”
shall have the meaning ascribed to such term in Section 3.1(gg).

 

     

     

    

 

“FDCA”
shall have the meaning ascribed to such term in Section 3.1(gg).

 

“IFRS”
shall have the meaning ascribed to such term in Section 3.1(h).

 

“Indebtedness”
shall have the meaning ascribed to such term in Section 3.1(z).

 

“Intellectual
Property Rights” shall have the meaning ascribed to such term in Section 3.1(o).

 

“Israeli
Company Counsel” means Doron, Tikotzky, Kantor, Gutman & Amit Gross, with offices located at B.S.R. 4 Tower, 33 Floor,
7 Metsada Street, Bnei Brak 5126112.

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Lock-Up
Agreement” means the Lock-Up Agreement for a period of 90 days following the Closing Date, executed by each of the directors
and officers of the Company.

 

“Material
Adverse Effect” shall have the meaning assigned to such term in Section 3.1(b).

 

“Material
Permits” shall have the meaning ascribed to such term in Section 3.1(m).

 

“Ordinary
Share(s)” means the ordinary shares of the Company, par value NIS 0.25 per share, and any other class of securities into
which such securities may hereafter be reclassified or changed.

 

“Ordinary
Share Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Ordinary Shares or ADSs, including, without limitation, any debt, preferred share, right, option, warrant or
other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof
to receive, Ordinary Shares or ADSs.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint share company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Pharmaceutical
Product” shall have the meaning ascribed to such term in Section 3.1(gg).

 

“Placement
Agent” means H.C. Wainwright & Co., LLC.

 

“Pre-Funded
Warrants” means, collectively, the Pre-Funded Ordinary Share purchase warrants delivered to the Purchasers at the Closing
in accordance with Section 2.2(a) hereof, which Pre-Funded Warrants shall be exercisable immediately and shall expire when exercised
in full, in the form of Exhibit A-2 attached hereto.

 

“Pre-Funded
Warrant Shares” means the ADSs and the Ordinary Shares issuable upon exercise of the Pre-Funded Warrants.

 

“Preliminary
Prospectus” means the preliminary prospectus dated February [__, 2020.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

 

“Prospectus”
means the final prospectus filed pursuant to the Registration Statement.

 

“Purchaser
Party” shall have the meaning ascribed to such term in Section 4.8.

 

     

     

    

 

“Registration
Statement” means the effective registration statement on Form F-1, with Commission (File No. 333-236064) which registers
the sale of the Securities to the Purchasers, including all information, documents and exhibits filed with or incorporated by reference
into such registration statement.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“SEC
Reports” shall have the meaning ascribed to such term in Section 3.1(h).

 

“Securities”
means the Units, Shares, the Warrants, the Warrant ADSs, the Warrant Shares and ADSs.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Series
A Warrants” means, collectively, the Series A Ordinary Shares purchase warrants delivered to the Purchasers at the Closing
in accordance with Section 2.2(a) hereof, which Series A Warrants shall be exercisable immediately upon issuance and have a term
of exercise equal to five (5) years following the initial exercise date, in the form of Exhibit A-1 attached hereto.

 

“Series
A Warrant Shares” means the ADSs and the Ordinary Shares issuable upon exercise of the Series A Warrants.

 

“Shares”
means the Ordinary Shares, as represented by ADSs issued pursuant to the Deposit Agreement, each ADS representing thirty (30) Ordinary
Shares, issued and issuable to each Purchaser pursuant to this Agreement.

 

“Short
Sales” means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include locating and/or borrowing shares of Ordinary Shares and/or ADSs). 

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for the Class A Units and/or Class B Units purchased
hereunder as specified below such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription
Amount,” in United States dollars and in immediately available funds.

 

“Subsidiary”
means any subsidiary of the Company as set forth on Schedule 3.1(a), and shall, where applicable, also include any direct
or indirect subsidiary of the Company formed or acquired after the date hereof.

 

“Trading
Day” means a day on which the New York Stock Exchange is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which ADSs and/or the Ordinary Shares are listed or quoted
for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global
Select Market, the New York Stock Exchange or the Tel Aviv Stock Exchange (or any successors to any of the foregoing).

 

     

     

    

 

“Transaction
Documents” means this Agreement, the Warrants, all exhibits and scheduled thereto and hereto and any other documents
or agreements executed in connection with the transactions contemplated hereunder.

 

“Units”
means, collectively, the Class A Units and the Class B Units.

 

“US
Company Counsel” means McDermott Will & Emery LLP with offices located at 340 Madison Avenue, New York, New York
10173,

 “Variable Rate
Transaction” shall have the meaning ascribed to such term in Section 4.12(b).

 

“Warrant
ADSs” means ADSs representing Warrant Shares.

 

“Warrants”
means, collectively, the Series A Warrants and Pre-Funded Warrants.

 

“Warrant
Shares” means, collectively, the Series A Warrant Shares and the Pre-Funded Warrant Shares.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 Closing.
On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchasers,
severally and not jointly, agree to purchase, up to an aggregate of $[__] million of Class A Units as determined pursuant to Section
2.2(a); provided, however, that, to the extent that a Purchaser determines, in its sole discretion, that such Purchaser (together
with such Purchaser’s Affiliates, and any Person acting as a group together with such purchaser or any of such Holder’s
Affiliates) would beneficially own in excess of the Beneficial Ownership Limitation, or as such Purchaser may otherwise choose,
in lieu of purchasing Class A Units such Purchaser may elect to purchase Class B Units at the Class B Unit Purchase Price in lieu
of Class A Units in such manner to result in the same aggregate purchase price being paid by such Purchaser to the Company. The
“Beneficial Ownership Limitation” shall be 4.99% (or, at the election of the Purchaser, 9.99%) of the number of Ordinary
Shares outstanding immediately after giving effect to the issuance of the Securities on the Closing Date. Each Purchaser’s
Subscription Amount as set forth on the signature page hereto executed by such Purchaser shall be made available for “Delivery
Versus Payment” (“DVP”) settlement with the Company or its designees. The Company shall deliver to each
Purchaser its respective Shares or Pre-Funded Warrants (as applicable to such Purchaser) and Series A Warrants as determined pursuant
to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the
Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices
of the Placement Agent or such other location as the parties shall mutually agree. Each Purchaser acknowledges that, concurrently
with the Closing and pursuant to the Prospectus, the Company may sell up to $[______ of additional Units to purchasers not party
to this Purchase Agreement, less such aggregate dollar amount of Units sold pursuant to this Agreement and will issue to each such
purchaser such additional Ordinary Shares and Series A Warrants or Pre-Funded Warrants and Series A Warrants in the same form and
at the same Class A Unit Purchase Price or Class B Unit Purchase Price, as issued to a Purchaser hereunder. The Company covenants
that, if the Purchaser delivers a Notice of Exercise (as defined in the Pre-Funded Warrant) no later than 12:00 p.m. (New York
City time) on the Business Day prior to the Closing Date to exercise any Pre-Funded Warrants between the date hereof and the Closing
Date, the Company shall deliver Pre-Funded Warrant Shares to the Purchaser on the Closing Date in connection with such Notice of
Exercise. Unless otherwise directed by the Placement Agent, settlement of the Shares shall occur via DVP (i.e., on the Closing
Date, the Company shall issue the Shares registered in the Purchasers’ names and addresses and released by the Transfer Agent
directly to the account(s) at the Placement Agent identified by each Purchaser; upon receipt of such Shares, the Placement Agent
shall promptly electronically deliver such Shares to the applicable Purchaser, and payment therefor shall be made by the Placement
Agent (or its clearing firm) by wire transfer to the Company).

 

     

     

    

 

2.2 Deliveries.

 

(a) On
or prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

i. this
Agreement duly executed by the Company;

 

ii. a
legal opinion of Israeli Company Counsel, in form reasonably acceptable to the Placement Agent and Purchasers; 

 

iii. a
legal opinion of US Company Counsel, in form reasonably acceptable to the Placement Agent and Purchasers; 

 

iv. the
Company shall have provided each Purchaser in writing with the Company’s wire instructions, on Company letterhead and
executed by the Chief Executive Officer or Chief Financial Officer;

 

v. the
Lock-Up Agreements; 

 

vi. subject
to the last sentence of Section 2.1, a copy of the irrevocable instructions to the Depositary instructing the Depositary to
deliver on an expedited basis via The Depository Trust Company Deposit or Withdrawal at Custodian system
(“DWAC”) Shares equal to the portion of such Purchaser’s Subscription Amount applicable to Class A
Units divided by the Class A Unit Purchase Price, registered in the name of such Purchaser;

 

vii. for
each Purchaser of Class B Units, a Pre-Funded Warrant registered in the name of such Purchaser to purchase up to a number of
Ordinary Shares equal to the portion of such Purchaser’s Subscription Amount applicable to Class B Units divided by the
Class B Unit Purchase Price, with an exercise price equal to $0.001, subject to adjustment therein;

 

viii. a
Series A Warrant registered in the name of each such Purchaser to purchase up to a number of Ordinary Shares equal to 100% of
the aggregate number of Shares and the Pre-Funded Warrant Shares underlying the Pre-Funded Warrants initially issuable on the
date hereof, if any, purchased by such Purchaser with an exercise price equal to $[___], subject to adjustment therein;
and

 

ix. the
Preliminary Prospectus and the Prospectus (which may be delivered in accordance with Rule 172 under the Securities Act).

 

(b)
On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company, the following:

 

 i. this Agreement duly executed by such Purchaser; 

 

 ii. such Purchaser’s Subscription Amount with regard to the Pre-Funded Warrants purchased by such Purchaser, if any, by wire transfer to the account specified by the Company in Section 2.2(a)(iv) above, or as otherwise agreed by the Company and the Placement Agent; and

 

 iii. such Purchaser’s Subscription Amount, which shall be made available for “Delivery Versus Payment” settlement with the Company.

 

2.3 Closing
Conditions.

 

(a) The obligations
of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the accuracy
in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect,
in all respects) when made and on the Closing Date of the representations and warranties of the Purchasers contained herein (unless
as of a specific date therein in which case they shall be accurate as of such date);

 

     

     

    

 

(ii) all obligations,
covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been performed;
and

 

(iii) the delivery
by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b) The respective
obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being met:

 

(i) the accuracy
in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect,
in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein (unless
as of a specific date therein in which case they shall be accurate as of such date);

 

(ii) all obligations,
covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

 

(iii) the delivery
by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

(iv) there
shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(v) from the
date hereof to the Closing Date, trading in the ADSs and Company’s securities shall not have been suspended by the Commission
or any Trading Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P.
shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported
by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New
York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or international
calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the
reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the Closing.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

3.1 Representations
and Warranties of the Company. Except as set forth in the Disclosure Schedules, which Disclosure Schedules shall be deemed
a part hereof and shall qualify any representation or otherwise made herein to the extent of the disclosure contained in the corresponding
section of the Disclosure Schedules, the Company hereby makes the following representations and warranties to each Purchaser:

 

(a) Subsidiaries.
All of the direct and indirect subsidiaries of the Company are set forth on Schedule 3.1(a). The Company owns, directly
or indirectly, all of the share capital or other equity interests of each Subsidiary free and clear of any Liens, and all of the
issued and outstanding share capital of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive
and similar rights to subscribe for or purchase securities. If the Company has no subsidiaries, all other references to the Subsidiaries
or any of them in the Transaction Documents shall be disregarded.

 

     

     

    

 

(b) Organization
and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly
existing, and, if applicable under the laws of the jurisdiction in which they are formed, in good standing under the laws of the
jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets
and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in violation nor default of any
of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents.
Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation
or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be
expected to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii)
a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the
Company and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform in
any material respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material
Adverse Effect”) and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking
to revoke, limit or curtail such power and authority or qualification.

 

(c) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by
it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company
and no further action is required by the Company, the Board of Directors or the Company’s shareholders in connection herewith
or therewith other than in connection with the Required Approvals. This Agreement and each other Transaction Document to which
it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the
terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance
with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

(d) No
Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to
which it is a party, the issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby
and thereby do not and will not (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate
or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any
of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, anti-dilution
or similar adjustments, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit
facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company
or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or (iii)
subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal
and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected;
except in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material
Adverse Effect.

 

(e) Filings,
Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i)
the filings required pursuant to Section 4.4 of this Agreement, (ii) the filing with the Commission of the Prospectus, (iii) application(s)
to each applicable Trading Market for the listing of the applicable Securities for trading thereon in the time and manner required
thereby, and (iv) such filings as are required to be made under applicable state securities laws and the Israeli Securities Authority
and the Tel Aviv Stock Exchange, (v) filings required by the Israeli Registrar of Companies (collectively, the “Required
Approvals”).

 

     

     

    

 

(f) Issuance
of the Securities; Registration. The Shares and Warrant Shares are duly authorized and, when issued and paid for in accordance
with the applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all
Liens imposed by the Company. The Warrants are duly authorized and, when issued in accordance with this Agreement, will be duly
and validly issued, fully-paid and nonassessable, free and clear of all Liens imposed by the Company. The Company has reserved
from its duly authorized share capital the maximum number of Ordinary Shares issuable pursuant to this Agreement and the Warrants.
The Company has prepared and filed the Registration Statement in conformity with the requirements of the Securities Act, which
became effective on February [__], 2020, including the Prospectus, and such amendments and supplements thereto as may have
been required to the date of this Agreement. The Company and the Depositary have prepared and filed with the Commission a registration
statement relating to ADSs on Form F-6 (File No. 333-183741) for registration under the Securities Act (the “ADS Registration
Statement”). The Registration Statement and ADS Registration Statement are effective under the Securities Act and no
stop order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing the use of the
Preliminary Prospectus or the Prospectus has been issued by the Commission and no proceedings for that purpose have been instituted
or, to the knowledge of the Company, are threatened by the Commission. The Company, if required by the rules and regulations of
the Commission, shall file the Preliminary Prospectus or the Prospectus with the Commission pursuant to Rule 424(b). At the time
the Registration Statement, ADS Registration Statement and any amendments thereto became effective, at the date of this Agreement
and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform in all material respects
to the requirements of the Securities Act and did not and will not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein not misleading; and the Prospectus
and any amendments or supplements thereto, at the time the Preliminary Prospectus, the Prospectus or any amendment or supplement
thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities
Act and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary in order
to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

(g) Capitalization.
The equity capitalization of the Company is as set forth on Schedule 3.1(g). The Company has not issued any share capital
since its most recently filed Form 6-K. No Person has any right of first refusal, preemptive right, right of participation, or
any similar right to participate in the transactions contemplated by the Transaction Documents. Except as set forth on Schedule
3.1(g) and as a result of the purchase and sale of the Securities, there are no outstanding options, warrants, scrip rights
to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible
into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any ADSs, Ordinary Shares,
or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to issue
additional ADSs, Ordinary Shares or Ordinary Share Equivalents. The issuance and sale of the Securities will not obligate the Company
to issue ADSs or Ordinary Shares or other securities to any Person (other than the Purchasers) and will not result in a right of
any holder of Company securities to adjust the exercise, conversion, exchange or reset price under any of such securities. There
are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions,
and there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become
bound to redeem a security of the Company or such Subsidiary. The Company does not have any share appreciation rights or “phantom
share” plans or agreements or any similar plan or agreement. All of the outstanding share capital of the Company are duly
authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state securities
laws where applicable, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to
subscribe for or purchase securities. Except for the Required Approvals, no further approval or authorization of any shareholder,
the Board of Directors or others is required for the issuance and sale of the Securities. There are no shareholders agreements,
voting agreements or other similar agreements with respect to the Company’s share capital to which the Company is a party
or, to the knowledge of the Company, between or among any of the Company’s shareholders.

 

     

     

    

 

(h) SEC
Reports; Financial Statements. The Company has filed all reports, schedules, forms, statements and other documents required
to be filed by the Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof,
for the one year preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such
material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, together with
the Preliminary Prospectus and the Prospectus, being collectively referred to herein as the “SEC Reports”) on
a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration
of any such extension. As of their respective dates, the SEC Reports complied in all material respects with the requirements of
the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading. The Company has never been an issuer subject
to Rule 144(i) under the Securities Act. The financial statements of the Company included in the SEC Reports comply in all material
respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect
at the time of filing. Such financial statements have been prepared in accordance with IFRS accounting principles applied on a
consistent basis during the periods involved (“IFRS”), except as may be otherwise specified in such financial
statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by IFRS,
and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for
the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements,
to normal, immaterial, year-end audit adjustments.

 

(i) Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included
within the SEC Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof, (i) there has
been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect,
(ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses
incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the
Company’s financial statements pursuant to IFRS or disclosed in filings made with the Commission, (iii) the Company has not
altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property
to its shareholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its share capital and (v)
the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company share
option plans. The Company does not have pending before the Commission any request for confidential treatment of information. Except
for the issuance of the Securities contemplated by this Agreement or as set forth on Schedule 3.1(i), no event, liability,
fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to
the Company or its Subsidiaries or their respective businesses, prospects, properties, operations, assets or financial condition
that would be required to be disclosed by the Company under applicable securities laws at the time this representation is made
or deemed made that has not been publicly disclosed at least 1 Trading Day prior to the date that this representation is made.

 

(j) Litigation.
Except as set forth on Schedule 3.1(j), there is no action, suit, inquiry, notice of violation, proceeding or investigation
pending or, to the knowledge of the Company, threatened against or affecting the Company, any Subsidiary or any of their respective
properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county,
local or foreign) (collectively, an “Action”) which (i) adversely affects or challenges the legality, validity
or enforceability of any of the Transaction Documents or the Shares or (ii) could, if there were an unfavorable decision, have
or reasonably be expected to result in a Material Adverse Effect. Except as set forth on Schedule 3.1(j), neither the Company
nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation
of or liability under federal or state securities laws or a claim of breach of fiduciary duty, which could result in a Material
Adverse Effect. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation
by the Commission involving the Company or any current or former director or officer of the Company. The Commission has not issued
any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary
under the Exchange Act or the Securities Act.

 

     

     

    

 

(k) Labor
Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of
the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’
employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither
the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe
that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or
any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure
or proprietary information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant
in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of
its Subsidiaries to any liability with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance
with all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and
conditions of employment and wages and hours, except where the failure to be in compliance could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

 

(l) Compliance.
Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been
waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the
Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is
bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any
court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation
of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental
protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case of
(i), (ii) and (iii) as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(m) Regulatory
Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports,
except where the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (“Material
Permits”), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation
or modification of any Material Permit.

 

(n) Title
to Assets. The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them
and good and marketable title in all personal property owned by them that is material to the business of the Company and the Subsidiaries,
in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not
materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens
for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with IFRS
and, the payment of which is neither delinquent nor subject to penalties. Any real property and facilities held under lease by
the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which the Company and the
Subsidiaries are in compliance in all material respects.

 

(o) Intellectual
Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark
applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights
and similar rights necessary or required for use in connection with their respective businesses as described in the SEC Reports
and which the failure to so have could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”).
None of, and neither the Company nor any Subsidiary has received a notice (written or otherwise) that any of, the Intellectual
Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2)
years from the date of this Agreement except as would not reasonably be expected to have a Material Adverse Effect. Neither the
Company nor any Subsidiary has received, since the date of the latest audited financial statements included within the SEC Reports,
a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights
of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the
Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of
the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable security measures to protect the secrecy,
confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.

 

     

     

    

 

(p) Insurance.
The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and
in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including,
but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe
that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage
from similar insurers as may be necessary to continue its business without a significant increase in cost.

 

(q) Transactions
With Affiliates and Employees. Except as set forth on Schedule 3.1(q), none of the officers or directors of the Company
or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party
to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director,
or any such employee has a substantial interest or is an officer, director, trustee, shareholder, member or partner, in each case
in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses
incurred on behalf of the Company and (iii) other employee benefits, including share option agreements under any share option plan
of the Company.

 

(r) Sarbanes-Oxley;
Internal Accounting Controls. The Company and the Subsidiaries are in material compliance with any and all applicable requirements
of the Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated
by the Commission thereunder that are effective as of the date hereof and as of the Closing Date. The Company and the Subsidiaries
maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed
in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with IFRS and to maintain asset accountability, (iii) access to assets is permitted
only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The
Company and the Subsidiaries have established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure that information
required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized
and reported, within the time periods specified in the Commission’s rules and forms. The Company’s certifying officers
have evaluated the effectiveness of the disclosure controls and procedures of the Company and the Subsidiaries as of the end of
the period covered by the most recently filed Form 20-F under the Exchange Act (such date, the “Evaluation Date”).
The Company presented in its most recently filed Form 20-F under the Exchange Act the conclusions of the certifying officers about
the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation
Date, there have been no changes in the internal control over financial reporting (as such term is defined in the Exchange Act)
that have materially affected, or is reasonably likely to materially affect, the internal control over financial reporting of the
Company and its Subsidiaries.

 

     

     

    

 

(s) Certain
Fees. Except as set forth in the Preliminary Prospectus and the Prospectus, no brokerage or finder’s fees or commissions
are or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent,
investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents. Other than
for Persons engaged by any Purchaser, if any, the Purchasers shall have no obligation with respect to any fees or with respect
to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection
with the transactions contemplated by the Transaction Documents.

 

(t) Investment
Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities, will
not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as
amended. The Company shall conduct its business in a manner so that it will not become an “investment company” subject
to registration under the Investment Company Act of 1940, as amended.

 

(u) Registration
Rights. Except as set forth in Schedule 3.1(u), no Person has any right to cause the Company to effect the registration
under the Securities Act of any securities of the Company or any Subsidiary.

 

(v) Listing
and Maintenance Requirements. The ADSs are registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company
has taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the
ADSs under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such
registration. Except as set forth on Schedule 3.1(v), the Company has not, in the 12 months preceding the date hereof, received
notice from any Trading Market on which the ADSs or Ordinary Shares are or have been listed or quoted to the effect that the Company
is not in compliance with the listing or maintenance requirements of such Trading Market. Except as set forth on Schedule 3.1(v),
the Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all
such listing and maintenance requirements. The ADSs are currently eligible for electronic transfer through The Depository Trust
Company or another established clearing corporation and the Company is current in payment of the fees to The Depository Trust Company
(or such other established clearing corporation) in connection with such electronic transfer.

 

(w) Application
of Takeover Protections. The Company and the Board of Directors have taken all necessary action, if any, in order to render
inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement)
or other similar anti-takeover provision under the Company’s certificate of incorporation (or similar charter documents)
or the laws of its state of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and
the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation
as a result of the Company’s issuance of the ADSs and the Purchasers’ ownership of the ADSs.

 

(x) Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company
confirms that neither it nor any other Person acting on its behalf has provided any of the Purchasers or their agents or counsel
with any information that it believes constitutes or might constitute material, non-public information which is not otherwise disclosed
in the Prospectus. The Company understands and confirms that the Purchasers will rely on the foregoing representation in effecting
transactions in securities of the Company. All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding
the Company and its Subsidiaries, their respective businesses and the transactions contemplated hereby, including the Disclosure
Schedules to this Agreement, is true and correct in all material respects and does not contain any untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances
under which they were made, not misleading. The press releases disseminated by the Company during the twelve months preceding the
date of this Agreement taken as a whole do not contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which
they were made and when made, not misleading. The Company acknowledges and agrees that no Purchaser makes or has made any representations
or warranties with respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2 hereof.

 

     

     

    

 

(y) No
Integrated Offering. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2,
neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would cause this offering
of the Securities to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions
of any Trading Market on which any of the securities of the Company are listed or designated.

 

(z) Solvency.
Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt by the
Company of the proceeds from the sale of the Securities hereunder, (i) the fair saleable value of the Company’s assets exceeds
the amount that will be required to be paid on or in respect of the Company’s existing debts and other liabilities (including
known contingent liabilities) as they mature, (ii) the Company’s assets do not constitute unreasonably small capital to carry
on its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular
capital requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability
thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive, were it to liquidate
all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in
respect of its liabilities when such amounts are required to be paid. The Company does not intend to incur debts beyond its ability
to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt).
The Company has no knowledge of any facts or circumstances which lead it to believe that it will file for reorganization or liquidation
under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date. Schedule 3.1(z) sets
forth as of the date hereof all outstanding secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the
Company or any Subsidiary has commitments. For the purposes of this Agreement, “Indebtedness” means (x) any
liabilities for borrowed money or amounts owed by the Company in excess of $50,000 (other than trade accounts payable incurred
in the ordinary course of business), (y) all guaranties, endorsements and other contingent obligations in respect of indebtedness
of others to third parties, whether or not the same are or should be reflected in the Company’s consolidated balance sheet
(or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions
in the ordinary course of business; and (z) the present value of any lease payments in excess of $50,000 due under leases required
to be capitalized in accordance with GAAP. Neither the Company nor any Subsidiary is in default with respect to any Indebtedness.

 

(aa) Tax
Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a
Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local
income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject,
(ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due
on such returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of
all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid
taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or
of any Subsidiary know of no basis for any such claim.

 

(bb) Foreign
Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent
or other person acting on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any
unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns
from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person
acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any
provision of FCPA.

 

     

     

    

 

(cc) Accountants.
The Company’s independent registered public accounting firm is as set forth in the Prospectus. To the knowledge and belief
of the Company, such accounting firm (i) is a registered public accounting firm as required by the Exchange Act and (ii) shall
express its opinion with respect to the financial statements to be included in the Company’s Annual Report for the fiscal
year ended December 31, 2019.

 

(dd) Acknowledgment
Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers is acting
solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in
any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given
by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the transactions
contemplated thereby is merely incidental to the Purchasers’ purchase of the Securities. The Company further represents to
each Purchaser that the Company’s decision to enter into this Agreement and the other Transaction Documents has been based
solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

 

(ee) Acknowledgment
Regarding Purchaser’s Trading Activity. Anything in this Agreement or elsewhere herein to the contrary notwithstanding
(except for Sections 3.2(f) and 4.12 hereof), it is understood and acknowledged by the Company that: (i) none of the Purchasers
has been asked by the Company to agree, nor has any Purchaser agreed, to desist from purchasing or selling, long and/or short,
securities of the Company, or “derivative” securities based on securities issued by the Company or to hold the Shares
for any specified term; (ii) past or future open market or other transactions by any Purchaser, specifically including, without
limitation, Short Sales or “derivative” transactions, before or after the closing of this or future private placement
transactions, may negatively impact the market price of the Company’s publicly-traded securities; (iii) any Purchaser, and
counter-parties in “derivative” transactions to which any such Purchaser is a party, directly or indirectly, presently
may have a “short” position in the Ordinary Shares and/or ADSs, and (iv) each Purchaser shall not be deemed to have
any affiliation with or control over any arm’s length counter-party in any “derivative” transaction. The Company
further understands and acknowledges that (y) one or more Purchasers may engage in hedging activities at various times during the
period that the ADSs and Shares are outstanding, and (z) such hedging activities (if any) could reduce the value of the existing
shareholders' equity interests in the Company at and after the time that the hedging activities are being conducted.  The
Company acknowledges that such aforementioned hedging activities do not constitute a breach of any of the Transaction Documents.

 

(ff) Regulation
M Compliance.  The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly,
any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate
the sale or resale of any of the ADSs or Shares, (ii) sold, bid for, purchased, or, paid any compensation for soliciting purchases
of, any of the ADSs or Shares, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase
any other securities of the Company, other than, in the case of clauses (ii) and (iii), compensation paid to the Company’s
placement agent in connection with the placement of the ADSs and Shares.

 

(gg) FDA.
As to each product subject to the jurisdiction of the U.S. Food and Drug Administration (“FDA”) under the Federal
Food, Drug and Cosmetic Act, as amended, and the regulations thereunder (“FDCA”) that is manufactured, packaged,
labeled, tested, distributed, sold, and/or marketed by the Company or any of its Subsidiaries (each such product, a “Pharmaceutical
Product”), such Pharmaceutical Product is being manufactured, packaged, labeled, tested, distributed, sold and/or marketed
by the Company in compliance with all applicable requirements under FDCA and similar laws, rules and regulations relating to registration,
investigational use, premarket clearance, licensure, or application approval, good manufacturing practices, good laboratory practices,
good clinical practices, product listing, quotas, labeling, advertising, record keeping and filing of reports, except where the
failure to be in compliance would not have a Material Adverse Effect. There is no pending, completed or, to the Company's knowledge,
threatened, action (including any lawsuit, arbitration, or legal or administrative or regulatory proceeding, charge, complaint,
or investigation) against the Company or any of its Subsidiaries, and none of the Company or any of its Subsidiaries has received
any notice, warning letter or other communication from the FDA or any other governmental entity, which (i) contests the premarket
clearance, licensure, registration, or approval of, the uses of, the distribution of, the manufacturing or packaging of, the testing
of, the sale of, or the labeling and promotion of any Pharmaceutical Product, (ii) withdraws its approval of, requests the recall,
suspension, or seizure of, or withdraws or orders the withdrawal of advertising or sales promotional materials relating to, any
Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by the Company or any of its Subsidiaries,
(iv) enjoins production at any facility of the Company or any of its Subsidiaries, (v) enters or proposes to enter into a consent
decree of permanent injunction with the Company or any of its Subsidiaries, or (vi) otherwise alleges any violation of any laws,
rules or regulations by the Company or any of its Subsidiaries, and which, either individually or in the aggregate, would have
a Material Adverse Effect. The properties, business and operations of the Company have been and are being conducted in all material
respects in accordance with all applicable laws, rules and regulations of the FDA.  The Company has not been informed by the
FDA that the FDA will prohibit the marketing, sale, license or use in the United States of any product proposed to be developed,
produced or marketed by the Company nor has the FDA expressed any concern as to approving or clearing for marketing any product
being developed or proposed to be developed by the Company.

 

     

     

    

 

(hh) Office
of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company's knowledge, any director, officer, agent,
employee or affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of
Foreign Assets Control of the U.S. Treasury Department (“OFAC”).

 

(ii) U.S.
Real Property Holding Corporation. The Company is not and has never been a U.S. real property holding corporation within the
meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s
request.

 

(jj) Bank
Holding Company Act. Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act
of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the
“Federal Reserve”). Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly
or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent or
more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither
the Company nor any of its Subsidiaries or Affiliates exercises a controlling influence over the management or policies of a bank
or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

 

(kk) Money
Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money
Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body
or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge
of the Company or any Subsidiary, threatened.

 

3.2 Representations
and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and warrants as
of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they
shall be accurate as of such date):

 

(a) Organization;
Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership limited liability
company or similar power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise
to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement and performance by such Purchaser
of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate, partnership, limited liability
company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to which it is a party has been
duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the
valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except: (i) as limited
by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by
applicable law.

 

     

     

    

 

(b) Understandings
or Arrangements. Such Purchaser is acquiring the Securities as principal for its own account and has no direct or indirect
arrangement or understandings with any other persons to distribute or regarding the distribution of such Securities (this representation
and warranty not limiting such Purchaser’s right to sell the Securities pursuant to the Registration Statement or otherwise
in compliance with applicable federal and state securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary
course of its business.

 

(c) Purchaser
Status. At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each date on
which it exercises any Warrants, it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2),
(a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a)
under the Securities Act.

 

(d) Experience
of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and
experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk
of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(e) Access
to Information. Such Purchaser acknowledges that it has had the opportunity to review the Transaction Documents (including
all exhibits and schedules thereto) and the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has
deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering
of the Securities and the merits and risks of investing in the Securities; (ii) access to information about the Company and its
financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate
its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without
unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. 
Such Purchaser acknowledges and agrees that neither the Placement Agent nor any Affiliate of the Placement Agent has provided such
Purchaser with any information or advice with respect to the Securities nor is such information or advice necessary or desired. 
Neither the Placement Agent nor any Affiliate has made or makes any representation as to the Company or the quality of the Securities
and the Placement Agent and any Affiliate may have acquired non-public information with respect to the Company which such Purchaser
agrees need not be provided to it.  In connection with the issuance of the Securities to such Purchaser, neither the Placement
Agent nor any of its Affiliates has acted as a financial advisor or fiduciary to such Purchaser.

 

(f) Certain
Transactions and Confidentiality. Other than consummating the transactions contemplated hereunder, such Purchaser has not,
nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed any
purchases or sales, including Short Sales, of the securities of the Company during the period commencing as of the time that
such Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company setting
forth the material pricing terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof.
Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio
managers manage separate portions of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment
decisions made by the portfolio managers managing other portions of such Purchaser’s assets, the representation set forth
above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision
to purchase the Securities covered by this Agreement. Other than to other Persons party to this Agreement or to such Purchaser’s
representatives, including, without limitation, its officers, directors, partners, legal and other advisors, employees, agents
and Affiliates, such Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction
(including the existence and terms of this transaction). Notwithstanding the foregoing, for the avoidance of doubt, nothing contained
herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing shares order
to effect Short Sales or similar transactions in the future.

 

     

     

    

 

The Company acknowledges and agrees that
the representations contained in this Section 3.2 shall not modify, amend or affect such Purchaser’s right to rely on the
Company’s representations and warranties contained in this Agreement or any representations and warranties contained in any
other Transaction Document or any other document or instrument executed and/or delivered in connection with this Agreement or the
consummation of the transactions contemplated hereby. Notwithstanding the foregoing, for the avoidance of doubt, nothing contained
herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing shares in
order to effect Short Sales or similar transactions in the future.

 

ARTICLE IV.

OTHER AGREEMENTS OF THE PARTIES

 

4.1 Warrant Shares.
If all or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the issuance
or resale of the Warrant Shares or if the Warrant is exercised via cashless exercise, the Warrant Shares issued pursuant to any
such exercise shall be issued free of all legends. If at any time following the date hereof the Registration Statement (or any
subsequent registration statement registering the sale or resale of the Warrant Shares) is not effective or is not otherwise available
for the sale or resale of the Warrant Shares, the Company shall immediately notify the holders of the Warrants in writing that
such registration statement is not then effective and thereafter shall promptly notify such holders when the registration statement
is effective again and available for the sale or resale of the Warrant Shares (it being understood and agreed that the foregoing
shall not limit the ability of the Company to issue, or any Purchaser to sell, any of the Warrant Shares in compliance with applicable
federal and state securities laws). The Company shall use commercially reasonable best efforts to keep a registration statement
(including the Registration Statement) registering the issuance or resale of the Warrant Shares effective during the term of the
Warrants.

 

4.2 Furnishing of
Information; Public Information. Until no Purchaser owns Securities, the Company covenants to maintain the registration of
the ADSs under Section 12(b) or 12(g) of the Exchange Act and to timely file (or obtain extensions in respect thereof and file
within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange
Act even if the Company is not then subject to the reporting requirements of the Exchange Act.

 

4.3 Integration.
The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined
in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities for purposes of the rules
and regulations of any Trading Market such that it would require shareholder approval prior to the closing of such other transaction
unless shareholder approval is obtained before the closing of such subsequent transaction.

 

4.4 Securities Laws
Disclosure; Publicity. The Company shall (a) by the Disclosure Time, issue a press release disclosing the material terms of
the transactions contemplated hereby, and (b) file a Report on Form 6-K, including the Transaction Documents as exhibits thereto,
with the Commission within the time required by the Exchange Act. From and after the issuance of such press release, the Company
represents to the Purchasers that it shall have publicly disclosed all material, non-public information delivered to any of the
Purchasers by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees or agents in connection
with the transactions contemplated by the Transaction Documents. In addition, effective upon the issuance of such press release,
the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement, whether written
or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees or Affiliates
on the one hand, and any of the Purchasers or any of their Affiliates on the other hand, shall terminate. The Company and each
Purchaser shall consult with each other in issuing any other press releases with respect to the transactions contemplated hereby,
and neither the Company nor any Purchaser shall issue any such press release nor otherwise make any such public statement without
the prior consent of the Company, with respect to any press release of any Purchaser, or without the prior consent of each Purchaser,
with respect to any press release of the Company, which consent shall not unreasonably be withheld or delayed, except if such disclosure
is required by law, in which case the disclosing party shall promptly provide the other party with prior notice of such public
statement or communication. Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Purchaser, or
include the name of any Purchaser in any filing with the Commission or any regulatory agency or Trading Market, without the prior
written consent of such Purchaser, except (a) as required by federal securities law in connection with the filing of final Transaction
Documents with the Commission and (b) to the extent such disclosure is required by law or Trading Market regulations, in which
case the Company shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b).

 

     

     

    

 

4.5 Shareholder
Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that any
Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including
any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company,
or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Securities
under the Transaction Documents or under any other agreement between the Company and the Purchasers.

 

4.6 Non-Public Information.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, which shall
be disclosed pursuant to Section 4.4, the Company covenants and agrees that neither it, nor any other Person acting on its behalf
will provide any Purchaser or its agents or counsel with any information that the Company believes constitutes material non-public
information, unless prior thereto such Purchaser shall have entered into a written agreement with the Company regarding the confidentiality
and use of such information. The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant
in effecting transactions in securities of the Company. To the extent that the Company delivers any material, non-public information
to a Purchaser without such Purchaser’s consent, the Company hereby covenants and agrees that such Purchaser shall not have
any duty of confidentiality to the Company, any of its Subsidiaries, or any of their respective officers, directors, agents, employees
or Affiliates, or a duty to the Company, and of its Subsidiaries or any of their respective officers, directors, agents, employees
or Affiliates not to trade on the basis of, such material, non-public information, provided that the Purchaser shall remain subject
to applicable law. To the extent that any notice provided pursuant to any Transaction Document constitutes, or contains, material,
non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission
pursuant to a Report on Form 6-K. The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant
in effecting transactions in securities of the Company.

 

4.7 Use of Proceeds.
The Company shall use the net proceeds from the sale of the Securities hereunder for working capital purposes and shall not use
such proceeds: (a) for the satisfaction of any portion of the Company’s debt (other than payment of trade payables in the
ordinary course of the Company’s business and prior practices), (b) for the redemption of any ADSs, Ordinary Shares or Ordinary
Share Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC regulations.

 

4.8 Indemnification
of Purchasers. Subject to the provisions of this Section 4.8, the Company will indemnify and hold each Purchaser and its directors,
officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a
Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser (within
the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders,
agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles
notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”)
harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments,
amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser
Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or
agreements made by the Company in this Agreement or in the other Transaction Documents or (b) any action instituted against a Purchaser
Party in any capacity, or any of them or their respective Affiliates, by any shareholder of the Company who is not an Affiliate
of such Purchaser Party, with respect to any of the transactions contemplated by the Transaction Documents (unless such action
is based upon a material breach of such Purchaser Party’s representations, warranties or covenants under the Transaction
Documents or any agreements or understandings such Purchaser Party may have with any such shareholder or any violations by such
Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which is finally judicially determined
to constitute fraud, gross negligence or willful misconduct). If any action shall be brought against any Purchaser Party in respect
of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing,
and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the
Purchaser Party. Any Purchaser Party shall have the right to employ separate counsel in any such action and participate in the
defense thereof, but the fees and expenses of such counsel shall be at the expense of such Purchaser Party except to the extent
that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a
reasonable period of time to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion
of counsel, a material conflict on any material issue between the position of the Company and the position of such Purchaser Party,
in which case the Company shall be responsible for the reasonable fees and expenses of no more than one such separate counsel.
The Company will not be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected
without the Company’s prior written consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but
only to the extent that a loss, claim, damage or liability is attributable to any Purchaser Party’s breach of any of the
representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement or in the other Transaction
Documents. The indemnification required by this Section 4.8 shall be made by periodic payments of the amount thereof during the
course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements contained herein
shall be in addition to any cause of action or similar right of any Purchaser Party against the Company or others and any liabilities
the Company may be subject to pursuant to law.

 

     

     

    

 

4.9 Listing of Shares.
The Company hereby agrees to use commercially reasonable best efforts to maintain the listing or quotation of the ADSs, Warrant
ADSs and Ordinary Shares on each Trading Market on which each is currently listed, and concurrently with the Closing, the Company
shall apply to list or quote all of the Shares, Warrant ADSs, Warrant Shares and/or ADSs on such Trading Markets and promptly secure
the listing of all of the Warrant ADSs, ADSs and Shares on such Trading Markets. The Company further agrees, if the Company applies
to have the Ordinary Shares or ADSs traded on any other Trading Market, it will then include in such application all of the ADSs,
Warrant ADSs, Shares and Warrant Shares, and will take such other action as is necessary to cause all of the ADSs, Warrant ADSs,
Shares and Warrant Shares to be listed or quoted on such other Trading Market as promptly as possible. The Company will then take
all action reasonably necessary to continue the listing and trading of its ADSs and Ordinary Shares on a Trading Market and will
comply in all material respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the
Trading Market. The Company agrees to use commercially reasonable efforts to maintain the eligibility of the ADSs for electronic
transfer through the Depository Trust Company or another established clearing corporation, including, without limitation, by timely
payment of fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic
transfer.

 

4.10 Subsequent
Equity Sales.

 

(a) From
the date hereof until thirty (30) days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter into any
agreement to issue or announce the issuance or proposed issuance of any ADSs, Ordinary Shares or Ordinary Share Equivalents.

 

(b) From
the date hereof until six (6) months following the Closing Date, the Company shall be prohibited from effecting or entering into
an agreement to effect any issuance by the Company or any of its Subsidiaries of ADSs, Ordinary Shares or Ordinary Share Equivalents
(or a combination of units thereof) involving a Variable Rate Transaction. “Variable Rate Transaction” means
a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or
exercisable for, or include the right to receive additional ADSs or Ordinary Shares either (A) at a conversion price, exercise
price or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the ADSs or
Ordinary Shares at any time after the initial issuance of such debt or equity securities, or (B) with a conversion, exercise or
exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or
upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company or the market
for ADSs or the Ordinary Shares or (ii) enters into, or effects a transaction under, any agreement, including, but not limited
to, an equity line of credit, whereby the Company may issue securities at a future determined price. Any Purchaser shall be entitled
to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to
collect damages.

 

     

     

    

 

(c) Notwithstanding
the foregoing, this Section 4.10 shall not apply in respect of an Exempt Issuance, except that no Variable Rate Transaction shall
be an Exempt Issuance.

 

4.11 Equal Treatment
of Purchasers. No consideration (including any modification of this Agreement) shall be offered or paid to any Person to amend
or consent to a waiver or modification of any provision of this Agreement unless the same consideration is also offered to all
of the parties to this Agreement. For clarification purposes, this provision constitutes a separate right granted to each Purchaser
by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class
and shall not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition
or voting of the ADSs, the Shares or otherwise.

 

4.12 Certain Transactions
and Confidentiality. Each Purchaser, severally and not jointly with the other Purchasers, covenants that neither it nor any
Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including Short Sales
of any of the Company’s securities during the period commencing with the execution of this Agreement and ending at such time
that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described
in Section 4.4.  Each Purchaser, severally and not jointly with the other Purchasers, covenants that until such time as the
transactions contemplated by this Agreement are publicly disclosed by the Company pursuant to the initial press release as described
in Section 4.4, such Purchaser will maintain the confidentiality of the existence and terms of this transaction and the information
included in the Disclosure Schedules.  Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement
to the contrary, the Company expressly acknowledges and agrees that (i) no Purchaser makes any representation, warranty or covenant
hereby that it will not engage in effecting transactions in any securities of the Company after the time that the transactions
contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in Section 4.4,
(ii) no Purchaser shall be restricted or prohibited from effecting any transactions in any securities of the Company in accordance
with applicable securities laws from and after the time that the transactions contemplated by this Agreement are first publicly
announced pursuant to the initial press release as described in Section 4.4 and (iii) no Purchaser shall have any duty of confidentiality
or duty not to trade in the securities of the Company to the Company or its Subsidiaries after the issuance of the initial press
release as described in Section 4.4.  Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment
vehicle whereby separate portfolio managers manage separate portions of such Purchaser’s assets and the portfolio managers
have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser’s
assets, the covenant set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that
made the investment decision to purchase the Securities covered by this Agreement.

 

4.13 Reserved.

 

4.14 Lock-Up Agreements.
The Company shall enforce the terms of the Lock-Up Agreements and not agree to any amendment to, or modification of, the Lock-Up
Agreements absent the prior written consent of the Placement Agent.

 

4.15 Exercise Procedures.
The form of Notice of Exercise included in the Warrants set forth the totality of the procedures required of the Purchasers in
order to exercise the Warrants. No additional legal opinion, other information or instructions shall be required of the Purchasers
to exercise their Warrants. Without limiting the preceding sentences, no ink-original Notice of Exercise shall be required, nor
shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required in order
to exercise the Warrants. The Company shall honor exercises of the Warrants and shall deliver Warrant Shares in accordance with
the terms, conditions and time periods set forth in the Transaction Documents.

 

4.16 Reservations
of Shares. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at
all times, free of preemptive rights, a sufficient number of Ordinary Shares for the purpose of enabling the Company to issue Ordinary
Shares pursuant to this Agreement and Warrant Shares pursuant to any exercise of the Warrant ADSs.

 

     

     

    

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Termination. 
This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect
whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing
has not been consummated on or before the fifth (5th) Trading Day following the date hereof; provided, however,
that no such termination will affect the right of any party to sue for any breach by any other party (or parties).

 

5.2 Fees and Expenses.
Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers,
counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation,
execution, delivery and performance of this Agreement. The Company shall pay all Depositary fees (including, without limitation,
any fees required for same-day processing of any instruction letter delivered by the Company), stamp taxes and other taxes and
duties levied in connection with the delivery of any Securities to the Purchasers.

 

5.3 Entire Agreement.
The Transaction Documents, together with the exhibits and schedules thereto, the Preliminary Prospectus and the Prospectus, contain
the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements
and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents,
exhibits and schedules.

 

5.4 Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and
shall be deemed given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered
via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto
at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such
notice or communication is delivered via facsimile at the facsimile number or email attachment at the email address as set forth
on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading
Day, (c) the second (2nd)Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight
courier service or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices
and communications shall be as set forth on the signature pages attached hereto. To the extent that any notice provided pursuant
to any Transaction Document constitutes, or contains, material, non-public information regarding the Company or any Subsidiaries,
the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 6-K.

 

5.5 Amendments;
Waivers. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed,
in the case of an amendment, by the Company and the Purchasers who purchased at least 50.1% in interest of the sum of (i) the Shares
and (ii) the Pre-Funded Warrant Shares initially issuable upon exercise of the Pre-Funded Warrants based on the initial Subscription
Amounts hereunder, or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought; provided,
that if any amendment, modification or waiver disproportionately and adversely impacts a Purchaser (or group of Purchasers), the
consent of at least 50.1% in interest of such disproportionately impacted Purchaser (or group of Purchasers) shall also be required.
No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof,
nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

 

5.6 Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect
any of the provisions hereof.

 

     

     

    

 

5.7 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.
The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser
(other than by merger). Any Purchaser may assign any or all of its rights under this Agreement to any Person to whom such Purchaser
assigns or transfers any Securities, provided that such transferee agrees in writing to be bound, with respect to the transferred
Securities, by the provisions of the Transaction Documents that apply to the “Purchasers.”

 

5.8 No Third-Party
Beneficiaries. The Placement Agent shall be the third party beneficiary of the representations and warranties of the Company
in Section 3.1 and the representations and warranties of the Purchasers in Section 3.2. This Agreement is intended for the benefit
of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision
hereof be enforced by, any other Person, except as otherwise set forth in Section 4.8 and this Section 5.8.

 

5.9 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of
conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto
or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively
in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper
or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents
to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence an action,
suit or proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company
under Section 4.8, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for its reasonable
attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action
or proceeding.

 

5.10 Survival.
The representations and warranties contained herein shall survive the Closing and the delivery of the Securities for the applicable
statute of limitations.

 

5.11 Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being
understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf”
signature page were an original thereof.

 

5.12 Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

     

     

    

 

5.13 Rescission
and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser
may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand
or election in whole or in part without prejudice to its future actions and rights; provided , however , that in the case of a
rescission of an exercise of a Warrant, the applicable Purchaser shall be required to return any ADSs or Ordinary Shares subject
to any such rescinded exercise notice concurrently with the return to such Purchaser of the aggregate exercise price paid to the
Company for such shares and the restoration of such Purchaser’s right to acquire such shares pursuant to such Purchaser’s
Warrant (including, issuance of a replacement warrant certificate evidencing such restored right).

 

5.14 Replacement
of Shares. If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall
issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu
of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the
Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also
pay any reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares.

 

5.15 Remedies.
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of
the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that
monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the
Transaction Documents and hereby agree to waive and not to assert in any action for specific performance of any such obligation
the defense that a remedy at law would be adequate.

 

5.16 Payment Set
Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document or
a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise
or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged
by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any
law (including, without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to
the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued
in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred.

 

5.17 Independent
Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance
or non-performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any
other Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the
Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers
are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction
Documents. Each Purchaser shall be entitled to independently protect and enforce its rights including, without limitation, the
rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser
to be joined as an additional party in any proceeding for such purpose. Each Purchaser has been represented by its own separate
legal counsel in its review and negotiation of the Transaction Documents. For reasons of administrative convenience only, each
Purchaser and its respective counsel have chosen to communicate with the Company through the legal counsel of the Placement Agent.
The legal counsel of the Placement Agent does not represent any of the Purchasers and only represents the Placement Agent. The
Company has elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company
and not because it was required or requested to do so by any of the Purchasers. It is expressly understood and agreed that each
provision contained in this Agreement and in each other Transaction Document is between the Company and a Purchaser, solely, and
not between the Company and the Purchasers collectively and not between and among the Purchasers.

 

     

     

    

 

5.18 Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

5.19 Construction.
The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and
every reference to share prices, ADSs, and shares of Ordinary Shares in any Transaction Document shall be subject to adjustment
for reverse and forward share splits, share dividends, share combinations and other similar transactions of the ADSs and Ordinary
Shares that occur after the date of this Agreement.

 

5.20 WAIVER OF
JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES
EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY. 

 

(Signature Pages Follow)

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated
above.

 

	CAN-FITE BIOPHARMA LTD.	 	Address for Notice:
	 	 	 
	By:	 	 	Email:
	 	Name:	 	Fax:
	 	Title:	 	 
	 	 	 
	With a copy to (which shall not constitute notice):

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

     

     

    

 

[PURCHASER SIGNATURE PAGES TO CANF SECURITIES
PURCHASE AGREEMENT]

 

IN WITNESS WHEREOF,
the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

Name of Purchaser: ________________________________________________________

Signature of Authorized Signatory of
Purchaser: _________________________________

Name of Authorized Signatory: _______________________________________________

Title of Authorized Signatory: ________________________________________________

Email Address of Authorized Signatory:_________________________________________

Facsimile Number of Authorized Signatory: __________________________________________

Address for Notice to Purchaser:

 

Address for Delivery of Warrants to the Purchaser (if not same
address for notice):

  

DWAC for Shares:

 

Subscription Amount: $_________________

 

Class A Units: _________________

 

Shares: _________________

 

Series A Warrant Shares: ______________

 

Class B Units: _______________

 

Pre-Funded Warrants:_________________

 

Series A Warrant Shares: ______________

 

EIN Number: ____________________

 

☐  Notwithstanding anything contained in this Agreement
to the contrary, by checking this box (i) the obligations of the above-signed to purchase the securities set forth in this Agreement
to be purchased from the Company by the above-signed, and the obligations of the Company to sell such securities to the above-signed,
shall be unconditional and all conditions to Closing shall be disregarded, (ii) the Closing shall occur by the second (2nd) Trading
Day following the date of this Agreement and (iii) any condition to Closing contemplated by this Agreement (but prior to being
disregarded by clause (i) above) that required delivery by the Company or the above-signed of any agreement, instrument, certificate
or the like or purchase price (as applicable) shall no longer be a condition and shall instead be an unconditional obligation of
the Company or the above-signed (as applicable) to deliver such agreement, instrument, certificate or the like or purchase price
(as applicable) to such other party on the Closing Date.

 

[SIGNATURE PAGES CONTINUE]Exhibit 4(a)

 

ARCONIC CORP. HOURLY 401(K) PLAN

 

EFFECTIVE FEBRUARY 1, 2020

 

Arconic Corp. Hourly 401(k) Plan

Effective as of February 1, 2020

 

    

     

    

 

ARCONIC CORP. HOURLY 401(K) PLAN

 

TABLE OF CONTENTS

 

	SECTION	 	PAGE
	 	 	 
	HISTORY AND PURPOSE	3
	 	 
	DEFINITIONS	4
	 	 
	GENERAL PROVISIONS	14
	SECTION 1.	PARTICIPATION	14
	SECTION 2.	EMPLOYEE SAVINGS	14
	SECTION 3.	PARTICIPATING EMPLOYER CONTRIBUTIONS (MATCH)	17
	SECTION 4.	NEGOTIATED DEFERRAL CONTRIBUTIONS, RESTRICTED DISCRETIONARY CONTRIBUTIONS, AND RETIREE MEDICAL SAVINGS CONTRIBUTIONS	17
	SECTION 5.	EMPLOYER RETIREMENT INCOME CONTRIBUTIONS (ERIC)	19
	SECTION 6.	NONFORFEITURE OF PARTICIPATING EMPLOYER CONTRIBUTIONS, NEGOTIATED DEFERRAL CONTRIBUTIONS, RESTRICTED DISCRETIONARY CONTRIBUTIONS, EMPLOYER RETIREMENT INCOME CONTRIBUTIONS, AND RETIREE MEDICAL SAVINGS CONTRIBUTIONS	21
	SECTION 7.	ROLLOVER CONTRIBUTIONS	21
	SECTION 8.	INVESTMENTS	21
	SECTION 9.	TRANSFERS BETWEEN INVESTMENTS	22
	SECTION 10.	WITHDRAWALS DURING EMPLOYMENT	23
	SECTION 11.	DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT	23
	SECTION 12.	PAYMENT OF DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT	24
	SECTION 13.	GENERAL PROVISIONS WITH RESPECT TO WITHDRAWALS	26
	SECTION 14.	NONASSIGNABILITY	27
	SECTION 15.	EXTENT OF PARTICIPANT'S RIGHTS	27
	SECTION 16.	MANAGEMENT OF FUNDS	28
	 	 	 
	OTHER PROVISIONS OF THE PLAN	32
	SECTION 17.	LOANS	32
	SECTION 18.	TRUST	33
	SECTION 19.	ADMINISTRATION	33
	SECTION 20.	AMENDMENT, MODIFICATION, SUSPENSION OR TERMINATION	35
	SECTION 21.	ADMINISTRATIVE EXPENSES	36
	SECTION 22.	SELECTION OF BENEFICIARIES	36
	SECTION 23.	PARTICIPANT'S STATEMENT	37
	SECTION 24.	EFFECTIVE DATE OF PLAN	37
	SECTION 25.	CONSTRUCTION	37

 

Arconic Corp. Hourly 401(k) Plan

Effective as of February 1, 2020

 

    i

     

    

 

 

	APPENDICES & SCHEDULES	 
	 	 
	APPENDIX A	LIMITATIONS AND DISCRIMINATION TESTING	38
	APPENDIX B	CODE SECTION 415 LIMITATIONS	48
	APPENDIX C	TOP HEAVY RULES	49
	APPENDIX D	MINIMUM DISTRIBUTION REQUIREMENTS.	51
	SCHEDULE A	MERGERS, TRANSFERS, AND RESTATEMENTS	55
	SCHEDULE B-1	ARCONIC CORP. HOURLY 401(K) PLAN PARTICIPATING EMPLOYERS, PARTICIPATING EMPLOYER CONTRIBUTIONS (MATCH) AND EMPLOYER RETIREMENT INCOME CONTRIBUTIONS (ERIC)	56
	SCHEDULE B-2	NEGOTIATED DEFERRAL CONTRIBUTIONS	58
	SCHEDULE B-3	RESTRICTED DISCRETIONARY CONTRIBUTIONS	59
	SCHEDULE B-4	RETIREE MEDICAL SAVINGS CONTRIBUTIONS	60
	SCHEDULE C-1	ACTIVE EMPLOYERS AND LOCATIONS TRANSFERRED FROM THE HOWMET AEROSPACE HOURLY RETIREMENT SAVINGS PLAN, EFFECTIVE FEBRUARY 1, 2020	61
	SCHEDULE C-2	ARCONIC CORP. HOURLY 401(K) PLAN LEGACY EMPLOYERS AND LOCATIONS TRANSFERRED FROM THE HOWMET AEROSPACE HOURLY RETIREMENT SAVINGS PLAN, EFFECTIVE FEBRUARY 1, 2020	64

 

Arconic Corp. Hourly 401(k) Plan

Effective as of February 1, 2020

 

    ii

     

    

 

ARCONIC CORP.
HOURLY 401(K) PLAN

EFFECTIVE FEBRUARY 1, 2020

 

HISTORY
AND PURPOSE

 

Effective
February 1, 2020, Arconic Rolled Products Corporation (herein called “Arconic”) established the Arconic Corp.
Hourly 401(k) Plan (the "Hourly Plan" or “Plan”) for the exclusive benefit of its eligible employees
who are paid on an hourly basis, including both collectively bargained (“Bargained”) and non-bargained (“Non-Bargained”)
employee populations. The Plan is a defined contribution, individual account 401(k) plan intended to qualify under Section 401(a) of
the Internal Revenue Code. The purpose of the Plan is to provide retirement benefits, and to enable Participants
to acquire a stock interest in the Company.

 

Effective
February 1, 2020, in anticipation of the separation into two separate publicly-traded companies, Arconic Inc. spun off certain
assets and liabilities from the Arconic Hourly Retirement Savings Plan (referred to as the Howmet Aerospace Hourly Retirement Savings
Plan, effective February 1, 2020) (the “Predecessor Plan”) to form this Plan. This Plan is intended as a continuation
of the Predecessor Plan for the Participants covered by this Plan and recognizes elections and Retirements under the Predecessor
Plan. From February 1, 2020 through the Separation Date, no person may participate concurrently in both this Plan and the
Predecessor Plan. References in this Plan to dates and actions prior to February 1, 2020, refer to the Predecessor Plan.

 

The Arconic Stock Fund
is an employee stock ownership plan (ESOP), within the meaning of Section 4975(e) of the Code, and is intended to comply
with all applicable provisions. The assets held in the ESOP must be invested primarily in employer securities as defined in Code
Section 409(l).

 

The Plan is intended
to be construed in accordance with any regulatory guidance issued with respect to applicable laws and regulations.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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DEFINITIONS

 

For the purpose of
this Plan, unless a different meaning is plainly required by the context:

 

AFFILIATE
means any non-corporate business entity or corporate business entity without voting stock, as such, which Arconic and/or
one or more Subsidiaries control in fact.

 

AFTER-TAX
SAVINGS means such portions of the total amounts contributed to the Plan by a Participant in accordance with Section 2
that are not accorded favorable tax treatment under Section 401(k) of the Code, but not including contributions made
by a Participant in excess of the annual limit on 401(k) contributions under Code Section 402(g) or in excess of
the "average deferral percentage limit" of Section 401(k) (3) of the Code.

 

ARCONIC
means Arconic Corporation. For periods prior to the Separation Date, references to Arconic shall mean Arconic Rolled
Products Corporation.

 

ARCONIC
STOCK FUND means the ESOP as described in Section 16(e), which became effective February 1, 2020.

 

AUTOMATIC
ENROLLMENT or AUTOMATICALLY ENROLLED means the automatic default enrollment in the Plan described in Sections
1(b) and 2(c) and applicable to Eligible Employees who do not opt out of the Plan.

 

AUTOMATIC
PRE-TAX RATE ESCALATION means the feature that is effective with Automatic Enrollment or that may be elected by a Participant,
in which the rate of Payroll Deduction for Pre-Tax Savings is increased until a target Payroll Deduction rate is reached. The Automatic
Pre-Tax Rate Escalation will increase effective April 1 of each year.

 

AUTOMATIC
REBALANCING means the feature described in Section 8(d).

 

BARGAINING
AGREEMENTS means the collective bargaining agreements entered into between a Participating Employer and one or more
of the unions designated in Schedule B-1.

 

BENEFICIARY
means the recipient or recipients designated by a Participant, in accordance with Section 22 of the Plan, to receive
benefits in the event of the Participant's death as either a primary beneficiary, or a contingent beneficiary who will receive
benefits in the event the primary beneficiary predeceases the Participant. Beneficiaries named under the Predecessor Plan shall
be recognized for purposes of this Plan.

 

BENEFITS
INVESTMENTS COMMITTEE means the Benefits Investments Committee of Arconic (or prior to the Separation Date, Benefits
Investments Committee of Arconic Inc.), which shall have authority over the investment of Plan assets as described herein and over
the selection of the Core Funds.

 

BENEFITS
MANAGEMENT COMMITTEE means the administrative committee of one or more persons appointed by the Board that interprets
and administers the Plan in accordance with Section 19.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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BOARD
means the Board of Directors of Arconic.

 

BROKERAGE
ACCOUNT means the investment option whereby a Participant may invest and personally manage investments outside the Core
Funds as described in Section 16(h).

 

BUSINESS
DAY means any day on which the Plan Administrator, Designee and New York Stock Exchange is open for business.

 

CODE
means the Internal Revenue Code of 1986, as amended.

 

COLA
SAVINGS means the cost of living amounts determined in accordance with all hours worked by the participant as of the
dates such amounts are calculated and allocated to a Participant's Pre-Tax Savings account for the next Payroll Period in which
such amounts would have been paid to the Participant during a Plan Year, in lieu of the Participant receiving said amounts as wages.
Such allocations shall be made in accordance with the terms and conditions of the Bargaining Agreements entered into between Arconic
and the Aluminum Workers, the Massena Office Workers, and the Davenport IBEW. Cola Savings shall be accorded favorable tax treatment
under Section 401(k) of the Code.

 

COMPANY
STOCK means common stock of Arconic and any substituted security under Section 16.

 

CONTINUOUS
SERVICE means, except as modified by the balance of this definition with respect to certain Participant populations,
the period of continuous employment with Arconic, a Subsidiary or Affiliate, either as a salaried employee or as an hourly-rated
employee, commencing with the Participant’s Employment Commencement Date or Reemployment Commencement Date. For purposes
of the preceding sentence, continuous employment with Arconic, a Subsidiary or Affiliate shall include continuous employment with
Arconic Inc. (or a Subsidiary or Affiliate of Arconic Inc. as defined in the Predecessor Plan) for periods prior to the Separation
Date. Continuous Service terminates on the Participant’s Severance from Service Date. Continuous Service upon reemployment
does not include any Continuous Service accrued prior to a termination of Continuous Service, except as follows:

 

A Participant who incurs
a Severance from Service Date and thereafter has a Reemployment Commencement Date, will have his or her Continuous Service on the
Severance from Service Date reinstated if the period between his or her Severance from Service Date and his or her Reemployment
Commencement Date is less than the greater of (a) five years or (b) the aggregate number of years of Continuous Service
earned before the Severance from Service Date.

 

CORE
FUND means any investment vehicle (including the Arconic Stock Fund and Target Maturity Funds) for Pre-Tax Savings,
After-Tax Savings, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions,
Employer Retirement Income Contributions, or Retiree Medical Savings Contributions, but excluding the Brokerage Account. The Benefits
Investments Committee will determine the Core Funds, and may make changes to the composition of the funds from time to time.

 

CURRENT
MARKET VALUE means with respect to any investment allocated to the accounts of any Participant in the Core Funds, the
unitized value of the securities and cash of the investment in the applicable Fund as of a specified date, less any fees provided
for in Section 21, valued in accordance with a procedure adopted by the investment manager for the Investment Fund and acceptable
to the Benefits Investments Committee.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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DESIGNEE
means such entity as may be chosen from time to time by the Plan Administrator and approved by the Benefits Management
Committee to handle certain specified administration functions of the Plan.

 

EFFECTIVE
DATE with respect to a distribution has the meaning prescribed in Section 13, with respect to a transfer has the
meaning prescribed in Section 9 and with respect to a qualified domestic relations order has the meaning prescribed in Section 14.

 

ELIGIBLE
COMPENSATION means: (i) the regular base salary and if applicable, the base salary adjustment (where commission
payments constitute all or part of an employee’s remuneration, the commissions actually paid as remuneration during a regular
pay period will be used to determine the Eligible Compensation for such employee).; (ii) the regular hourly wages and if applicable:
cash cola, regular vacation pay, witness pay, holiday advance pay (for a holiday not worked), bereavement pay, shift differential,
jury pay, job upgrades, schedule premium, income adjustments, and wage adjustments which are payable during such periods as the
employee is an Eligible Employee as determined by the Participating Employers. In no event may the amount of Eligible Compensation
for any Participant during any Plan Year, for any purposes under this Plan, exceed $285,000, as adjusted for any Plan Year for
cost-of-living increases in accordance with Section 401(a)(17)(B) of the Code applicable to that calendar year.

 

In
addition to the forgoing, for purposes of allocating Employer Retirement Income Contributions as indicated in Schedule B-1, Eligible
Compensation will include any Variable Compensation Awards or incentive compensation payable during such periods as the
employee is an Eligible Employee as determined by the Participating Employers.

 

In addition, Eligible
Compensation will include additional amounts set forth in Section 2(a) or 2(d) for the limited purposes contained
therein.

 

ELIGIBLE
EMPLOYEE means any person who meets all of the following conditions:

 

(a)         (1)           is
a resident or citizen of the U.S., employed by a Participating Employer at a participating Company (Company Code) and specified
location (Location Code), as indicated in Schedule B-1;

 

(2)            is
a Full-Time Employee or a Part-Time Employee and who receives regular compensation in the form of: (1) a weekly, semimonthly
or monthly salary, (2) periodic commissions, or (3) an hourly wage;

 

(3)            is
not in a unit of employees covered by a Bargaining Agreement, unless such Bargaining Agreement provides for the application of
the Plan to the employees in such unit; and

 

(4)            is
not in a group of employees excluded from coverage under the Plan by the Benefits Management Committee, or the appropriate governing
body of a Participating Employer, which is uniform in application to all employees similarly situated;

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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OR

 

(b)            Is
a Temporary Employee who, in addition to meeting the above described terms and conditions (other than (a)(2)), has at least one
year of Continuous Service.

 

The following will
in no case be Eligible Employees: agency, leased, contract employees and other individuals who are not on the payroll of the Company,
as determined by the Company, without regard to any court, or agency decision determining common-law employment status. A “leased
employee” is excluded from participation in the Plan. A “leased employee” means any person who is not an employee
of any Participating Employer and who provides services if:

 

(a)            such
services are provided pursuant to an agreement between the recipient Participating Employer and any other person or a leasing organization;

 

(b)            such
person has performed such services for the recipient Participating Employer on a substantially full-time basis for a period of
at least one year; and

 

(c)            such
services are performed under the primary direction or control of the recipient Participating Employer,

 

or as otherwise defined in Section 414(n) of
the Code.

 

Any former leased employee,
upon becoming an Eligible Employee, will receive Continuous Service credit for all prior service performed with the recipient Participating
Employer as a leased employee prior to becoming an Eligible Employee.

 

EMPLOYER
RETIREMENT INCOME CONTRIBUTIONS (ERIC) means an amount equal to the percentage of Eligible Compensation specified in
Section 5 that is contributed to Eligible Employees in accordance with Section 5 that is contributed to Eligible Employees
and as indicated in Schedule B-1, to the Eligible Employees of a specified location without regard to Employment Commencement Date
or Reemployment Commencement Date, unless an Employment Commencement Date or Reemployment Commencement Dates otherwise specified.

 

EMPLOYMENT
COMMENCEMENT DATE means the date on which an Eligible Employee is first employed by and performs an Hour of Service
for Arconic, a Subsidiary or an Affiliate (or Arconic Inc. or its subsidiaries or affiliates for periods prior to Separation Date)
as a Full-Time Employee or a Part-Time Employee, or with respect to an individual described in subsection (b) of the definition
of Eligible Employee, a Temporary Employee.

 

ERISA
means the Employee Retirement Income Security Act of 1974 as amended.

 

ESOP
or EMPLOYEE STOCK OWNERSHIP PLAN means the Arconic Stock Fund as described in Section 16(e).

 

FINANCIAL
HARDSHIP means an immediate and heavy financial need which a Participant is not able to meet from other reasonably available
resources. An immediate and heavy financial need includes:

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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(a)            Extraordinary
medical expenses incurred by the Participant, the Participant's spouse, dependents of the Participant, or primary Beneficiary;

 

(b)            Purchase,
excluding mortgage payments, of a principal residence for the Participant;

 

(c)            Payment
of tuition for the next year of post-secondary education for the Participant, his or her spouse, children, dependents or primary
Beneficiary;

 

(d)            Expenses
necessary to prevent eviction of the Participant from his principal residence, or foreclosure on the mortgage of the Participant's
principal residence;

 

(e)            Funeral
expenses of a family member or primary Beneficiary; and

 

(f)            All
other expenses that the Internal Revenue Service will accept as an immediate and heavy financial need.

 

A withdrawal will be
deemed to be necessary to satisfy an immediate and heavy financial need of a Participant if all of the following requirements are
satisfied:

 

(i)            The
withdrawal is not in excess of the amount of the immediate and heavy financial need (including taxes on such withdrawal) of the
Participant;

 

(ii)           The
Participant has obtained all distributions, other than hardship withdrawals, and all nontaxable loans currently available under
all plans maintained by the Participating Employer (unless such a loan would contribute to the hardship); and

 

(iii)           The
Participant represents in writing (including by using an electronic medium as defined in Section 1.401(a)-21(e)(3)), that
the Participant has insufficient cash or other liquid assets reasonably available to satisfy the financial need.

 

Based upon the foregoing
provisions, the Designee determines whether or not a Participant has incurred a Financial Hardship.

 

FULL-TIME
EMPLOYEE means an active employee who works 100 percent of a regular work schedule for the location where he or she
is employed.

 

FROZEN
PARTICIPANT means:

 

(a)

 

(i)             a
participant in the Arconic Retirement Plan II (“Pension Plan”) prior to December 31, 2019;

 

(ii)            employed
at a location covered by the 2019 USW Master Agreement between Arconic (or its affiliates or subsidiaries) and the United Steel,
Paper and Forestry, Rubber Manufacturing, Energy, Allied-Industrial and Service Workers International Union (“2019 Master
Agreement”);

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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(iii)            hired
or rehired by Arconic (or its affiliates or subsidiaries) on or after June 23, 2006, but prior to January 1, 2020; and

 

(iv)            who
made an irrevocable election to cease Pension Plan participation, effective as of close of business on December 31, 2019,
at such time and in such manner as required by the Pension Plan administrator.

 

OR

 

(b)

 

(i)             a
participant in the Arconic Retirement Plan II (“Pension Plan”) prior to December 31, 2019;

 

(ii)            employed
at a location covered by the 2019 collective Bargaining Agreement between Arconic Inc. (or its affiliates or subsidiaries) and
the International Union of Bricklayers and Allied Craftsworkers Local 8 SE (Union Code 401) (“2019 BAC Agreement”);

 

(iii)            hired
or rehired by Arconic (or its affiliates or subsidiaries) prior to January 1, 2020; and

 

(iv)            who
made an irrevocable election to voluntarily cease Pension Plan participation, effective as of close of business on December 31,
2019, at such time and in such manner as required by the Pension Plan administrator.

 

HOUR
OF SERVICE means:

 

(a)            Each
hour for which an employee is paid or entitled to payment for the performance of duties for Arconic, a Subsidiary or Affiliate
(or Arconic Inc. or its subsidiaries or affiliates for periods prior to Separation Date);

 

(b)            Each
hour for which an Employee is paid or entitled to payment by Arconic (or Arconic Inc. or its subsidiaries or affiliates for periods
prior to Separation Date), a Subsidiary or Affiliate on account of a period during which no duties are performed, whether or not
the employment relationship has terminated, due to vacation, holiday, illness, incapacity (including disability), layoff, jury
duty, military duty, or leave of absence; and

 

(c)            Each
hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by Arconic, a Subsidiary or Affiliate
(or Arconic Inc. or its subsidiaries or affiliates for periods prior to Separation Date) excluding any hour credited under (a) or
(b) above, which is credited to the computation period or periods to which the award, agreement or payment pertains, rather
than to the computation period in which the award, agreement or payment is made.

 

INVESTMENT
FUND means any Core Fund and the Brokerage Account.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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KEY
EMPLOYEE means any employee or former employee (including any deceased employee) who at any time during the Plan Year
that includes the determination date, as defined in Section 416(g)(4)(c) of the Code, was i) an officer of a Participating
Employer having annual compensation greater than $185,000 (as adjusted under Section 416(i)(1) of the Code, ii) a five
percent owner of the Participating Employer, or iii) a one percent owner of a Participating Employer having annual compensation
of more than $150,000. For purposes of this paragraph, compensation means compensation as defined in Section 415(c)(3) of
the Code, but includes amounts contributed by the Participating Employer pursuant to a salary reduction agreement which are excludable
from the Participant’s gross income under Section 125, 402(a), Section 401(h), Section 401(b), and Section 132(f)(4).

 

LAYOFF
or LAID-OFF means (a) for a Bargained employee, the absence from employment due to a reduction of a Participating
Employer's work force due to lack of work, where it is intended that the Participant will be subject to recall; or (b) for
a Non-Bargained hourly employee, the absence from employment due to a reduction of a Participating Employer's work force due to
lack of work, where it is intended that the Participant will be subject to recall and the Participant has not been placed on a
Temporary Layoff. A Layoff ends on the earlier of the effective date of a recall or the date the Participant's service terminates,
and such Layoff has continued for at least twenty-four months calculated from the first day of the Layoff.

 

NEGOTIATED
DEFERRAL CONTRIBUTIONS means amounts contributed by a Participating Employer as determined under Section 4(a).

 

NORMAL
RETIREMENT AGE means the date a Participant attains age 65.

 

PART-TIME
EMPLOYEE means an active employee who works at least 50 percent but less than 100 percent of the regular work schedule
for the location where he or she is employed.

 

PARTICIPANT
means:

 

(a)            an
Eligible Employee who has elected to participate in the Plan in accordance with the provisions of Section 1, or who receives
Employer Retirement Income Contributions, Restricted Discretionary Contributions, Negotiated Deferral Contributions, or Retiree
Medical Savings Contributions, or who is Automatically Enrolled in the Plan. Such a person continues as a Participant so long as
he or she has an account balance in the Plan. Notwithstanding the foregoing, a contractor, agency employee, temporary employee
or "leased employee" as defined in Section 414(n) of the Code is not a Participant under the Plan, or

 

(b)            an
Eligible Employee who is employed with a Participating Employer on December 31 of any Plan Year where such Participating Employer
has elected to make a Negotiated Deferral Contribution or Restricted Discretionary Contribution for that Plan Year, or

 

(c)            an
individual who participated in the Predecessor Plan as of January 31, 2020, who was associated with one of the companies,
locations and location business code combinations identified on Schedule C-1 or Schedule C-2. Such individuals had
their entire accounts transferred to this Plan effective February 1, 2020.

 

Effective February 1, 2020, a Participant
shall not include any person who is a participant in the Predecessor Plan prior to the Separation Date. If a Participant ceases
to participate in this Plan as a result of the transfer of such Participant’s employment to a company whose employees participate
in the Howmet Aerospace Hourly Retirement Savings Plan (“Howmet Aerospace Plan”) after February 1, 2020, but before
the Separation Date, the account balance of such Participant shall automatically be transferred from this Plan to the Howmet Aerospace
Plan and such person shall cease to be a Participant in this Plan. If a participant in the Howmet Aerospace Plan transfers employment
to Arconic (or an Affiliate or Subsidiary) after February 1, 2020, but before the Separation Date, the Howmet Aerospace Plan
account balance of such Participant shall be accepted by this Plan.

 

    	Arconic Corp. Hourly 401(k) Plan
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PARTICIPATING
EMPLOYER means Arconic, except as specified hereafter, and any other entity in which Arconic or one or more Subsidiaries
or Affiliates have an ownership interest, and that is authorized by Arconic to participate in the Plan and which adopts the Plan
by proper action of its board of directors or other governing body, provided that each said entity agrees to reimburse Arconic
from time to time upon demand for its proper portion of the expenses and contributions required to carry out the provisions hereof
and of the agreement under which the assets of the Plan are held or managed. Schedule B-1 lists applicable locations of Participating
Employers.

 

PARTICIPATING
EMPLOYER CONTRIBUTIONS means amounts contributed by a Participating Employer as determined under Section 3.

 

PARTICIPATION
DATE means the date on which an Eligible Employee commences participation in the Plan (or, if prior to February 1,
2020, the Predecessor Plan).

 

PAYROLL
DEDUCTIONS means the Pre-Tax Savings and After-Tax Savings based on a reduction of the Participants' Eligible Compensation
for the applicable Payroll Period.

 

PAYROLL
PERIOD means the regularly scheduled payroll cycles in which a Participant earns Eligible Compensation.

 

PERMANENT
LAYOFF means an absence from employment due to a reduction of the work force by a Participating Employer due to lack
of work, where it is intended that the Participant will not be subject to recall. A Participant's Continuous Service for purposes
of the Plan will be terminated on the first day of Permanent Layoff.

 

PERMANENT
SHUTDOWN means the permanent shutdown, as determined by a Participating Employer, of a plant, department or substantial
portion thereof, of a Participating Employer at which a Participant who is affected thereby is employed.

 

PLAN
means the Arconic Corp. Hourly 401(k) Plan, effective as of February 1, 2020, and as may be amended from time
to time. For periods prior to February 1, 2020, references to the Plan shall mean the Predecessor Plan.

 

PLAN
ADMINISTRATOR means Arconic.

 

PLAN
YEAR means the calendar year.

 

PREDECESSOR
PLAN means the Arconic Hourly Retirement Savings Plan (now referred to as the Howmet Aerospace Hourly Retirement Savings
Plan).

 

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PRE-TAX
CATCH-UP CONTRIBUTIONS means contributions permitted under Section 414(v) of the Code, as described in Section 2(k) of
the Plan.

 

PRE-TAX
SAVINGS means the amount by which a Participant has elected to reduce his or her Eligible Compensation and defer the
receipt thereof in accordance with Section 2, and the contribution of the said amount to the Plan, or an amount by which a
Participant's Eligible Compensation is deferred and contributed to the Plan pursuant to Automatic Enrollment.

 

PROPERLY
RECEIVED means any request to participate, to change participation in the Plan, for suspension of Payroll Deductions,
to discontinue Automatic Pre-Tax Rate Escalation, for a transfer between investments in accordance with Sections 8 or 9, to discontinue
Automatic Investment Rebalancing, or a for a withdrawal in accordance with either Section 10 or 11, or submission of a beneficiary
designation, consent or revocation in accordance with Section 22, made to the Plan Administrator or its Designee in a manner
designated by the Plan in accordance with uniform rules established by the Plan Administrator.

 

QUALIFIED
DEFAULT INVESTMENT ALTERNATIVE or QDIA means the Targeted Maturity Funds to which the Plan may direct the assets
of a Participant’s account in the absence of Participant investment direction. Each Participant’s account will be invested
in the appropriate Targeted Maturity Fund based on the Participant’s year of birth.

 

REEMPLOYMENT
COMMENCEMENT DATE means the date on which a Participant is first reemployed by a Participating Employer following a
Severance from Service Date.

 

RESTRICTED
DISCRETIONARY CONTRIBUTIONS means amounts contributed by a Participating Employer as determined under Section 4(b).

 

RETIREE
MEDICAL SAVINGS CONTRIBUTIONS means amounts contributed by a Participating Employer as determined under Section 4(c).

 

RETIREMENT
means termination of Continuous Service with rights to a pension other than a deferred vested pension benefit under
a retirement plan of Arconic and/or a Subsidiary and/or an Affiliate, termination of Continuous Service upon or after attainment
of age 55 and completion of 10 years of Continuous Service, or Normal Retirement Age.

 

ROLLOVER
CONTRIBUTION means an eligible rollover distribution as described in Section 402(c)(4) of the Code, or a direct
transfer of an eligible rollover distribution as described in Section 401(a)(31) of the Code ("Direct Rollover")
which is transferred to the Plan pursuant to Section 7.

 

SAVINGS
means the total amount of Pre-Tax Savings and After-Tax Savings contributed to the Plan in accordance with Section 2.

 

SEPARATION
DATE shall mean the legal separation of Arconic Inc. into two separate publicly traded companies (Arconic Corporation
and Howmet Aerospace Inc.)

 

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SEVERANCE
FROM SERVICE DATE means the date Continuous Service terminates and is the earliest of the date the Eligible Employee
quits, retires, is discharged (including Permanent Layoffs), or dies, the first anniversary of the first date the Eligible Employee
is absent due to a Layoff or Temporary Layoff , or the second anniversary of the first date the Eligible Employee is absent from
work for any other reason (including a disability). Notwithstanding the foregoing, an employee will not be deemed to have terminated
from Continuous Service until the second anniversary of the employee's absence, if the absence is due to the pregnancy of the Eligible
Employee, the birth of a child of the Eligible Employee or the placement of a child with the Eligible Employee in connection with
adoption proceedings, or for purposes of caring for that child for a period beginning immediately following such birth or placement.
The period between the first anniversary and second anniversary of the first day of absence will not constitute Continuous Service.
Severance from Service Date will also mean the date on which a participant ceases employment with Arconic or a Subsidiary in connection
with a sale of assets or interest in a Participating Employer and commences employment with the purchaser of such assets or interest,
provided there is no transfer to the purchaser of Plan assets and liabilities relating to such participant.

 

SUBSIDIARY
means a corporation, a majority of whose voting stock is owned or controlled by Arconic and/or one or more other Subsidiaries.

 

TARGETED
MATURITY FUNDS means the investment vehicles that are pre-mixed funds consisting of varying asset allocations that follow
an investment strategy based on a targeted retirement date. Targeted Maturity Funds are Core Funds.

 

TEMPORARY
EMPLOYEE means a person who does not work on a regular schedule, or works less than fifty percent of the regular hours
for the location where he or she is employed, or works fifty percent or more of the regular hours for the location but is hired
for a specified period of time not to exceed twelve month.

 

TEMPORARY
LAYOFF means an absence from employment for a Non-Bargained employees due to a reduction of the work force by a Participating
Employer due to lack of work, where it is intended that the Participant will not be subject to recall or the Participant has been
designated as a temporary recall in the Company’s human capital management system (currently, the Global People System),
but where there is an expectation that the Participant may return to work within the calendar year.

 

TOTAL
AND PERMANENT DISABILITY means disability by injury or disease which, on the basis of medical evidence satisfactory
to a medical doctor chosen by the Benefits Management Committee, prevents the employee from engaging in any employment with Arconic,
a Subsidiary or Affiliate suitable to his or her training and experience and that will be permanent and continuous during the remainder
of the employee's life, and the employee is not otherwise employed by Arconic, a Subsidiary or Affiliate.

 

TRUSTEE
means the Trustee or Trustees appointed by the Board or its delegate, including but not limited to the Benefits Investments
Committee in accordance with the provisions of Section 18.

 

U.S.
means the United States of America.

 

VARIABLE
COMPENSATION AWARDS means performance pay, profit sharing or gain sharing awards or other variable compensation awards
as determined by the Participating Employer and approved by the Plan Administrator. Variable Compensation Awards do not include
ratification bonuses or other one-time special bonus payments.

 

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GENERAL
PROVISIONS

 

		SECTION 1.
	PARTICIPATION

 

An Eligible Employee
participates in the Plan:

 

(a)            by
submitting an application or request for participation that is Properly Received, or by receiving Negotiated Deferral Contributions,
Restricted Discretionary Contributions, Participating Employer Contributions, or Employer Retirement Income Contributions; or

 

(b)            by
being Automatically Enrolled sixty (60) days following Employment Commencement Date or Reemployment Commencement Date, or after
an employee employed on a temporary basis becomes an Eligible Employee; or

 

(c)            by
being Automatically Enrolled sixty (60) days following the initial participation of a new Company or Location resulting from an
acquisition or restructuring of a business unit.

 

SECTION 2.EMPLOYEE
SAVINGS

 

(a)            An
Eligible Employee may elect to pay into the Plan through Payroll Deductions properly authorized by such employee, a whole percentage
of his or her Eligible Compensation in Pre-Tax Savings in an amount equal to one through twenty-five percent (25%), and After-Tax
Savings equal to one through ten percent (10%), the aggregate of which cannot be greater than twenty-five percent (25%).

 

(b)            An
Eligible Employee subject to Automatic Enrollment will be subject to automatic Payroll Deductions equal to three percent of Eligible
Compensation for any applicable payroll period, which will be contributed to the Plan as Pre-Tax Savings. Absent the Participant's
election of investment funds, such Pre-Tax Savings will be deposited into the appropriate QDIA, as described in Section 8(a).

 

(c)            Payroll
Deductions for Pre-Tax Savings made pursuant to Automatic Enrollment are subject to Automatic Pre-Tax Rate Escalation whereby,
providing the Participant has participated in the Plan at least ninety days, the Participant's Pre-Tax Savings rate will be increased
by one percent on each April 1 after his or her Participation Date until the Pre-Tax Savings rate attains a target rate of
six percent of Eligible Compensation. A Participant may change the percentage rate in whole percentages up to the maximum permitted
by the Plan or opt out of Automatic Pre-Tax Rate Escalation at any time in a manner designated by the Plan Administrator that is
Properly Received.

 

Any Participant may
elect to begin or end Automatic Pre-Tax Savings Rate Escalation at any time in a manner designated by the Plan that is Properly
Received. An election to begin Automatic Pre-Tax Saving Rate Escalation shall designate a beginning Pre-Tax Savings rate, a target
rate up to the maximum permitted by the Plan, and an annual rate (in whole percentages) by which the Pre-Tax rate increases until
the target rate is attained.

 

    	Arconic Corp. Hourly 401(k) Plan
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(d)            Pursuant
to the terms of the Master Agreement, and pursuant to the terms of the collective Bargaining Agreements between Arconic Inc. and
unions at such other locations identified below (“Other Locations”), Participants at the locations and represented
by the unions listed below may defer as Pre-Tax Savings and/or Pre-Tax Catch-Up Contributions, a maximum of fifty percent (50%)
of amounts earned under the applicable pay for performance plan in increments of ten percent (10%) and subject to the maximums
allowable by the Code and Department of Treasury regulations. The amount of any such deferrals shall be included in the definition
of Eligible Compensation for purposes of Pre-Tax Savings and/or Pre-Tax Catch-Up Contributions only and shall not be eligible for
Participating Employer Contributions.

 

2019 Master Agreement Locations

 

	Co. Code	Company Name	LOC	Location Name	Union Code	Union Name
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	193	USW 309 – SteelWorkers
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	293	USW 105 – SteelWorkers
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	294	USW 115 – SteelWorkers
	N06	Arconic Massena LLC	MAS	Massena, New York	295	USW 420 – SteelWorkers
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	401	
        BRKM 8-Brickmasons (ALC)

	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	413	
        IBEW 1379-Electricians (DAV)

 

(e)            Any
employee contributions which have been contributed to a Participant's account under a qualified defined contribution plan of a
Participating Employer which has been merged with this Plan, are credited to the Participant as Pre-Tax and After-Tax Savings Accounts,
as applicable, as determined by the Plan Administrator, and thereafter be treated like Pre-Tax and After-Tax Savings with respect
to withdrawals, loans, and investment options under the Plan. Any protected optional form of benefits provided under said qualified
defined contribution plan will be maintained under the Plan.

 

(f)            All
Participating Employer Contributions and Negotiated Deferral Contributions, Restricted Discretionary Contributions, Employer Retirement
Income Contributions, and Retiree Medical Savings Contributions are irrevocable, except that any such contribution which was made
by a mistake of fact or conditioned upon qualification of the Plan or any amendment thereof under Section 401 of the Code
or upon the deductibility of the contribution under Section 404 of the Code, will be returned to the Participating Employer
within one year after the payment of the contribution made by mistake, the denial of the qualification or the disallowance of the
deduction (to the extent disallowed), whichever is applicable.

 

(g)            A
Participant may change his or her election for Payroll Deductions, effective for the first full Payroll Period following the date
that such request is Properly Received.

 

    	Arconic Corp. Hourly 401(k) Plan
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(h)           A
Participant may direct that Payroll Deductions for Savings be discontinued beginning with the first full Payroll Period following
the date that such direction is Properly Received. A Participant may direct that such deductions be resumed beginning with the
first full Payroll Period following the date that such direction is Properly Received, except as provided in the definition of
Financial Hardship.

 

(i)            Payroll
Deductions are paid to the Trustee as soon as practicable, but no later than the period prescribed by the Department of Labor for
depositing contributions.

 

(j)            Additional
limitations on Savings, Participating Employer Contributions, Negotiated Deferral Contributions and Restricted Discretionary Contributions
are provided in Appendices A, B and C. Notwithstanding the foregoing, in the event it is determined by the Benefits Management
Committee or its Designee that for any particular month the maximum percentage of Eligible Compensation which a Participant may
elect to pay into the Plan as Pre-Tax Savings must be reduced so as to prevent the actual percentage of Pre-Tax Savings for Participants
who are Highly Compensated Employees from exceeding the elected percentage of Pre-Tax Savings of all other Participants, pursuant
to the limitations in the Appendices, the maximum percentage of Pre-Tax Savings for said Highly Compensated Employees may be reduced,
for any particular Month to the extent deemed necessary by the Benefits Management Committee or its designee. The said Participants’
previously elected percentage of After-Tax Savings will not be affected in any manner by a reduction of the maximum percentage
of Pre-Tax Savings in accordance with the foregoing.

 

(k)           An
Eligible Employee who meets the requirements listed below may make an election for a Plan Year to defer extra Pre-Tax Catch-Up
Contributions in an amount that equals an annual maximum amount of six thousand dollars ($6,500), or such other amount adjusted
for cost-of-living increases as may be provided by the Secretary of the Treasury pursuant to Section 414(v)(2) (C) of
the Code. Eligible Employees who meet the requirements are individuals who i) have attained 50 or will attain age 50 during the
applicable Plan Year, ii) are contributing no less than six percent (6%) of Eligible Compensation in Pre-Tax Savings; and iii)
have submitted an election to make Pre-Tax Catch-Up Contributions for applicable Plan Year.

 

In the case where a
Bargained Participant is awarded back wages pursuant to a settlement or arbitration agreement by which the Participant is to be
 “made whole,” in the case of an individual who is eligible to make Pre-Tax Catch-Up Contributions, the Participant
may defer any portion of the awarded back wages up to the annual maximum amount of the Pre-Tax Catch-Up Contribution for the current
Plan Year, provided an election to defer such amount is submitted prior to the date payment of the awarded back wages is made.

 

(l)            In
the case where a Bargained Participant is awarded back wages pursuant to a settlement or arbitration agreement by which the Participant
is to be “made whole” with respect to such award, the Participant must contribute Pre-Tax Savings attributable to the
back wages or portion of back wages awarded pertaining to the current Plan Year only (“Corrective Contributions”).
The Corrective Contributions will be based on the percentage of Compensation for Pre-Tax Savings designated by the Participant
in an election in effect, or defaulted to pursuant to section 2(b) and 2(c), on the date of the Participant’s termination
that preceded the period for which the award has been granted. Notwithstanding the foregoing, contributions of Corrective Contributions
may not cause the Participant’s Eligible Compensation to exceed the limitation on compensation imposed by Section 401(a)(17)
of the Code, or the limitations described in Appendices A or B.

 

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(m)            A
Participant who’s compensation is suspended due to an absence from employment due to military leave protected by Uniformed
Services Employment and Reemployment Rights Act of 1994 (“USERRA”), may upon his or her return to employment contribute
 “make up” Pre-Tax Contributions equal to the amount he or she would have contributed except for the absence based upon
the Participant’s election on file. Such make up contributions must be paid to the Plan during a period that does not exceed
the lesser of three (3) times the length of time of the military leave or five (5) years, commencing from the date employment
is resumed.

 

		SECTION
                            3.	PARTICIPATING
EMPLOYER CONTRIBUTIONS (MATCH)

 

Participating Employer
Contributions will be allocated under the Plan to the account of those Participants for whom Pre-Tax Savings are paid into the
Plan for such Payroll Period in accordance with Section 2, where the applicable Bargaining Agreement provides or where the
Participating Employer with whom the Participant is actively employed has elected to make such contributions. The contributions
will be the specific amount for each dollar of the Participant’s Eligible Compensation he or she contributes to the Plan
as Pre-Tax Savings up to six percent of the Participant’s Eligible Compensation. Schedule B-1 provides a list of Participating
Employers and Participating Employer Contributions. Subject to the terms of the Bargaining Agreement, unless disapproved by the
Benefits Management Committee, a Participating Employer’s election to make or change a Participating Employer Contribution
for current and future Plan Years may be made at any time during the Plan Year and continue until changed by the Participating
Employer. Participating Employer Contributions will be allocated to the account of Participants to whom Corrective Contributions
have been made for the current Plan Year as described in Section 2(l) above.

 

The amount of all such
Contributions are contributed on a Payroll Period basis by the Participating Employer out of current income or accumulated earnings.
All Participating Employer Contributions will be invested in the same Core Funds elected by the Participant for his or her current
Savings (or if none, then in the QDIA).

 

All employer contributions
which have been contributed to a Participant's account under a qualified defined contribution plan of a Participating Employer
which has been merged with this Plan, are credited to the Participant as Participating Employer Contributions and thereafter are
treated like Participating Employer Contributions with respect to withdrawals, loans, and investment options under the Plan. Any
protected optional form of benefits provided under said merged qualified defined contribution plan will be maintained under the
Plan.

 

		SECTION
                            4.	 NEGOTIATED DEFERRAL CONTRIBUTIONS, RESTRICTED DISCRETIONARY CONTRIBUTIONS, AND RETIREE MEDICAL SAVINGS CONTRIBUTIONS

 

(a)            Negotiated
Deferral Contributions consisting of mandatory COLA Savings shall be allocated to the Pre-Tax Savings account of each Eligible
Employee employed on the end of each Payroll Period, in accordance with an applicable Bargaining Agreement. Negotiated Deferral
Contributions will be made in an amount attributable to the period occurring in the current Plan Year for which an award of back
wages is made pursuant to a settlement or arbitration agreement by which the Participant is to be “made whole” with
respect to such award.

 

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(b)            A
Participating Employer for each Plan Year may contribute under the Plan to the account of those Eligible Employees who are employed
with said Participating Employer on the last day of the Plan Year, a Restricted Discretionary Contribution in an amount determined
in accordance with an applicable Bargaining Agreement, unless disapproved by the Benefits Management Committee. Restricted Discretionary
Contributions will be allocated to Eligible Employees based on either uniform dollar amounts or whole or partial percentages of
Eligible Compensation. A Participating Employer may elect to make one Restricted Discretionary Contribution for any Plan Year on
or before December 31 of the Plan Year. The Restricted Discretionary Contribution will be paid to the Trustee no later than
the date fixed by law for the filing of the Participating Employer’s federal income tax return for the year for which the
contribution is made, including any extensions of time granted by the Internal Revenue Service for filing the return. The Participating
Employer may direct, but is not obligated to direct, the Trustee to promptly invest such amount in the Arconic Stock Fund; otherwise,
Restricted Discretionary Contributions will be invested in accordance with the provisions of Section 8(b).

 

(c)            Participants
covered by the collective Bargaining Agreement between the master collective bargaining between Arconic Inc. and the United Steelworkers
(“Master Agreement”), and Participants in other bargaining locations described in Schedule B-4 who meet the eligibility
requirements described below will receive Retiree Medical Savings Contributions to their accounts in an amount equal to $0.40 per
hour worked. For purposes of determining Retiree Medical Savings Contributions, hours will be deemed credited with respect to any
back pay awards and military leave, but will not include hours not worked, such as but not limited to, hours credited for vacation,
holiday, jury or witness pay. Retiree Medical Savings Contributions will be contributed on a payroll basis and the Participant
will not be required to be employed on the last day of the Plan Year as a condition to receive the contribution. Contributions
will be paid to the Trustee within the period of time specified by law. Retiree Medical Savings Contributions are not subject to
withdrawals, distributions prior to termination of employment, or loans. Retiree Medical Savings Contributions will be deposited
in the appropriate QDIA, but may be transferred by the Participant from the QDIA to any elected Core Fund at any time.

 

Participants
eligible for Retiree Medical Savings Contributions are Eligible Employees employed at the Master Agreement and other bargaining
locations described in the Retiree Medical Savings Contributions table in Schedule B-4 who i) have completed one year of Continuous
Service, and ii) have an Employment Commencement Date occurring or are rehired on or after July 1, 2010, regardless of the
duration of the period the individual was separated from employment (“Retiree Medical Eligible”). Notwithstanding
the above, effective January 1, 2020, Retiree Medical Eligibles at the 2019 Master Agreement bargaining locations set forth
in Chart A immediately below, shall be eligible after completing 90 days of Continuous Service.

 

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Chart A

2019 Master Agreement Locations

 

	Co. Code	Company Name	LOC	Location Name	Union Code	Union Name
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	193	USW 309 – SteelWorkers
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	293	USW 105 – SteelWorkers
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	294	USW 115 – SteelWorkers
	N06	Arconic Massena LLC	MAS	Massena, New York	295	USW 420 – SteelWorkers

 

 

(d)            An
Eligible Employee who incurs an absence due to military leave protected by USERRA and eligible to receive Negotiated Deferral Contributions,
Restricted Discretionary Contributions, or Retiree Medical Savings Contributions will receive those contributions based on the
Eligible Compensation or applicable hours that would have been received had the individual remained actively employed during the
period of military leave.

 

		SECTION
                            5.	EMPLOYER
                                         RETIREMENT INCOME CONTRIBUTIONS (ERIC)

 

(a)            As
indicated in Schedule B-1, (i) Eligible Employees at a Company and Location, designated in Schedule B-1 will receive an Employer
Retirement Income Contribution in the amount of three percent of applicable Eligible Compensation for the Plan Year. Employer Retirement
Income Contributions of three percent of Eligible Compensation will be made to the accounts of Participants on a Payroll Period
basis, whether or not employed on the last day of the Plan Year. An Eligible Employee who incurs an absence due to military leave
protected by USERRA and eligible to receive Employer Retirement Income Contributions (“ERIC) will receive those contributions
based on the Eligible Compensation that would have been received had the individual remained actively employed during the period
of military leave.

 

Withdrawals of Employer
Retirement Income Contributions are permitted by Participants who have attained age 59 1⁄2.

 

(b)            Notwithstanding
section (a), above, pursuant to the terms of the 2019 Master Agreement, Participants hired or rehired before February 1, 2020
by Arconic Inc. (or its subsidiaries or affiliates) or by Arconic (and its Subsidiaries or Affiliates) on or after February 1,
2020 and Frozen Participants at the locations listed in Chart A will receive an Employer Retirement Income Contribution equivalent
to the higher of (a) three percent of applicable Eligible Compensation for the Plan Year or (b) the Minimum Annual Equivalent
Contribution, in the amount as shown in Chart B below. ERIC will be made to the accounts of Participants on a Payroll Period basis,
whether or not employed on the last day of the Plan Year. An Eligible Employee who incurs an absence due to military leave protected
by USERRA, FLMA, absence due to layoff, illness or injury, work-related injury or illness, leave of absence, jury or witness service,
union business, and/or union or governmental office and eligible to receive ERIC will receive those contributions based on the
Eligible Compensation that would have been received had the individual remained actively employed. Notwithstanding the above, ERIC
will cease after two years of continuous absence from work, unless a contribution is otherwise required by law.

 

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Notwithstanding the foregoing, in the event
the Participant’s annual additions would exceed the maximum annual additions that can be taken into account under the Code,
such Participant’s annual additions will be automatically reduced, in whole or in part, by the amount required to eliminate
such excess. If this causes the Participant’s ERIC allocation to be reduced or suspended in any Plan Year, the amount of
the reduction and/or suspension will be added to the ERIC amount payable the following Plan Year, to the extent permitted by applicable
limits specified under the Code (See Appendix B). Accordingly, the Participant’s ERIC allocation made for any Plan Year will
not be eligible for distributions or withdrawals until testing required under Code Section 415 is completed for the Plan Year
and any required adjustments to Plan accounts are made.

 

Except as provided above, withdrawals of
Employer Retirement Income Contributions are permitted by Participants who have attained age 59 1⁄2.

 

Chart A

2019 Master Agreement Locations

 

	Co. Code	Company Name	LOC	Location Name	Union Code	Union Name
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	193	USW 309 – SteelWorkers
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	293	USW 105 – SteelWorkers
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	294	USW 115 – SteelWorkers
	N06	Arconic Massena LLC	MAS	Massena, New York	295	USW 420 – SteelWorkers

 

Chart B

2019 Master Agreement Locations

 

Eligible Employees designated in Chart
A, above, will receive an Employer Retirement Income Contribution in the amount equivalent to the higher of three percent of applicable
Eligible Compensation or the Minimum Annual Equivalent Contribution, in the amount determined as follows:

 

	Age	Minimum Annual Equivalent ERIC
	Under 35	$1,025, or an amount otherwise specified in a successive collective Bargaining Agreement
	35 to 39	$1,475, or an amount otherwise specified in a successive collective Bargaining Agreement
	40 to 44	$1,700, or an amount otherwise specified in a successive collective Bargaining Agreement
	45 to 49	$2,075, or an amount otherwise specified in a successive collective Bargaining Agreement
	50 to 54	$3,975, or an amount otherwise specified in a successive collective Bargaining Agreement
	55 to 59	$5,500, or an amount otherwise specified in a successive collective bargaining agreement
	60 and Over	$7,000, or an amount otherwise specified in a successive collective Bargaining Agreement

 

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For this purpose, age is determined as
of the completed age as of the first day of the calendar year for which ERIC is being made and only complete years of age shall
be used; no partial years of age shall be counted.

 

		SECTION
                            6.	NONFORFEITURE
OF PARTICIPATING EMPLOYER CONTRIBUTIONS, NEGOTIATED DEFERRAL CONTRIBUTIONS, RESTRICTED DISCRETIONARY CONTRIBUTIONS, EMPLOYER RETIREMENT
INCOME CONTRIBUTIONS, AND RETIREE MEDICAL SAVINGS CONTRIBUTIONS

 

All Participating Employer
Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, Employer Retirement Income Contributions,
and Retiree Medical Savings Contributions and any investment earnings attributable thereto held in a Participant’s account
are nonforfeitable and are not subject to divestment.

 

		SECTION
                            7. 	ROLLOVER
CONTRIBUTIONS

 

An Eligible Employee
of a Participating Employer who is or may become a Participant may, unless disapproved under objective procedures established by
the Benefits Management Committee, make a Rollover Contribution to the Plan. An Eligible Employee's Rollover Contribution is credited
to his or her account and thereafter treated like the Participant's Pre-Tax Savings with respect to withdrawals, loans and investment
options under the Plan. The Plan does not accept Roth rollovers.

 

		SECTION
                            8.	INVESTMENTS

 

(a)            Savings
and Employer Retirement Income Contributions. Pre-Tax Savings (including Rollover Contributions), After-Tax Savings, and Employer
Retirement Income Contributions will be invested, at the election of the Participant, in any of the Core Funds in one percent increments.
Pre-Tax Savings of any Participant who is Automatically Enrolled and Employer Retirement Income Contributions made to the account
of a Participant who has not made investment election will be contributed to the appropriate QDIA fund, based on the Participant’s
date of birth.

 

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A Participant may change
his or her current investment election or transfer assets deposited by the Plan into a QDIA fund any day of the Plan Year, to be
effective for the next following Payroll Period, within the limitations otherwise provided in this Plan, by directing the Plan
Administrator or its Designee to make such change which direction is Properly Received.

 

(b)            Participating
Employer Contributions, and Restricted Discretionary Contributions. All Participating Employer Contributions will be invested
in the same Core Funds elected by the Participant for his or her current Savings (or if none, then in the QDIA). Restricted Discretionary
Contributions may be invested in the Arconic Stock Fund if directed by the Participating Employer, subject to Section 9, or
otherwise invested in the same Core Funds elected by the Participant for his or her current Savings (or if none, then in the QDIA).

 

(c)            Brokerage
Account. A portion of Pre-Tax or After Tax Savings, and Participating Employer Contributions, Negotiated Deferral Contributions,
Restricted Discretionary Contributions, or Employer Retirement Income Contributions subject to transfer as provided in Section 9,
or any other amounts invested in the Core Funds may be transferred in amounts of one thousand dollars ($1,000) or more and reallocated
to a Brokerage Account, a self-directed brokerage account that allows a Participant to select and personally manage investment
options not otherwise available under the Plan, in accordance with the provisions of Section 16. Any amounts to be withdrawn,
loaned or distributed from a Brokerage Account must be first transferred back to the Core Funds, as described in Section 16(h).

 

(d)            Automatic
Rebalancing of Investments. A Participant may elect to have his or her account balance automatically rebalanced, or readjusted,
at ninety-day intervals, to equal the percentage(s) directed by the Participant for investing such account balance in any
Core Fund(s). The Participant may cancel Automatic Rebalancing at any time in a manner designated by the Plan Administrator that
is Properly Received.

 

		SECTION
                            9. 	TRANSFERS
BETWEEN INVESTMENTS

 

(a)            Transfer
of Savings, Participating Employer, Negotiated Deferral, Restricted Discretionary Contributions, and Employer Retirement Income
Contributions. A Participant may elect to transfer in whole percentage increments all or part of the Current Market Value of
his or her Pre-Tax Savings, After Tax Savings, Participating Employer, Negotiated Deferral Contributions, Restricted Discretionary
Contributions, or Employer Retirement Income Contributions subject to the following:

 

(1)            Transfers
from any one or more Core Funds to the Brokerage Account may be made in amounts of one thousand dollars ($1,000) or more;

 

(2)            Transfers
may be made on a daily basis;

 

(3)            Investment
Fund transfers do not constitute a change in the Participant’s current investment election; and

 

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(4)            Transfer
provisions may be subject to restrictions imposed by mutual fund companies underlying the Core Funds.

 

(b)            Effective
Date of Transfer. The effective date of any transfer will be the date for which the appropriate direction to the Plan Administrator
or its Designee has been Properly Received.

 

(c)            Value
of Transfer. The Current Market Value of Savings, Participating Employer Contributions, Negotiated Deferral Contributions,
Restricted Discretionary Contributions, and Employer Retirement Income Contributions to be transferred into or out of an Investment
Fund are determined in accordance with the value of the Investment Fund at the close of business of the Business Day on the Effective
Date.

 

		SECTION
                            10.	WITHDRAWALS
DURING EMPLOYMENT

 

Notwithstanding
anything to the contrary herein, any and all withdrawals during employment are subject to a $250.00 minimum. Withdrawals
are not permitted prior to the termination of the Participant’s Continuous Service, except for the following:

 

(1)            Upon
attainment by the Participant of age 59 1⁄2; or

 

(2)            Upon
a determination by the Plan Administrator or Designee that the Participant has suffered a Financial Hardship with respect to Pre-Tax
Savings and investment earnings attributable thereto, and Employer Contributions contributed to the Predecessor Plan prior to January 1,
2011.

 

A Participant may withdraw
the Current Market Value of After-Tax Savings at any time (subject to a $250.00 minimum). A Participant may voluntarily withdraw
all or a portion (subject to a $250.00 minimum) of the Current Market Value of Participating Employer Contributions made to the
Predecessor Plan prior to January 1, 2011.

 

		SECTION
                            11.	DISTRIBUTIONS
UPON TERMINATION OF EMPLOYMENT

 

(a)            A
Participant whose Continuous Service terminates is eligible to receive as a distribution the Current Market Value of all Savings,
Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, and Employer Retirement
Income Contributions made to the Participant’s accounts. In the event a Participant who has terminated employment received
a total distribution of the Current Market Value of his or her account under the Plan has a Reemployment Commencement Date, he
or she will not be permitted to repay the distributed amount other than as a Rollover Contribution from an eligible retirement
plan described in Sections 402(c)(4) and 401(a)(31) of the Code, as provided in Section 7.

 

(b)          Direct
Rollovers.

 

(i)            Notwithstanding
any provision of the Plan to the contrary that would otherwise limit a distributee's election under this subsection, a distributee
may elect, at the time and in the manner prescribed by the Plan Administrator, and to have any portion of an eligible rollover
distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover.

 

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(ii)          Definitions:

 

(1)            Eligible
rollover distribution: An eligible rollover distribution means any distribution to an employee of all or any portion of the balance
to the credit of the employee in the Plan, and as otherwise described in this subsection (1). An eligible rollover distribution
does not include any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually)
made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee's
designated beneficiary, or for a specified period of ten years or more; any distribution to the extent such distribution is required
under Section 401(a)(9) of the Code; and any amount distributed on account of hardship.

 

(2)            Eligible
retirement plan: An eligible retirement plan is an individual retirement account or individual retirement annuity described in
Sections 408(a) and 408(b) of the Code, a qualified trust described in Section 401(a) of the Code that accepts
the distributee's eligible rollover distribution, an annuity plan or contract described in Sections 403(a) and 403(b) of
the Code, or an eligible plan under Section 457(b) of the Code that is maintained by a state, political subdivision of
a state, or any agency or instrumentality of a state or political subdivision of a state that agrees to separately account for
amounts transferred into such plan from this Plan. The definition of eligible retirement plan will also apply in the case of a
distribution to a surviving spouse of a Participant, or spouse or former spouse who is the alternate payee under a qualified domestic
relations order as defined in Section 414(p) of the Code. With respect to an eligible rollover distribution to a Participant’s
nonspouse Beneficiary, an eligible retirement plan is an individual retirement account or annuity described in Sections 408(a) and
408(b) of the Code established for the purpose of receiving such distribution, and identifying the deceased Participant and
Beneficiary.

 

(3)            Distributee:
A distributee includes an employee or former employee. In addition, the employee's or former employee's surviving spouse and the
employee's or former employee's spouse or former spouse who is an alternate payee under a qualified domestic relations order, as
defined in Section 414(p) of the Code, are distributees with regard to the interest of the spouse or former spouse. A
distributee includes the employee's or former employee's nonspouse Beneficiary provided the transfer of the eligible rollover distribution
is made as described in paragraph (4) below.

 

(4)            Direct
Rollover: A direct rollover is a payment by the Plan to the eligible retirement plan specified by the distributee.

 

		SECTION
                            12.	PAYMENT
OF DISTRIBUTIONS UPON TERMINATION OF EMPLOYMENT

 

(a)            Subject
to the following provisions of this Section, payment to a Participant or Beneficiary of the Current Market Value of all Savings,
Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions and Employer Retirement
Income Contributions in the Participant's account from any Investment Fund, other than the Arconic Stock Fund, upon the Participant's
termination of Continuous Service is made in cash. All amounts held in the Arconic Stock Fund at the time of the Participant's
termination of Continuous Service are paid in cash or Company Stock. Such payment will be made in accordance with the following
rules:

 

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(i)          If
the Current Market Value of all of the Participant's vested account balances (not including Rollover Contributions) in all qualified
defined contribution plans of Arconic, the Subsidiaries and Affiliates is less than one thousand dollars ($1,000), then a total
distribution of all of the Participant’s vested account balances will be made to the Participant at a time determined by
the Plan. If the Current Market Value of all of the Participant's vested account balances (not including Rollover Contributions)
in all qualified defined contribution plans of Arconic, the Subsidiaries and Affiliates is greater than one thousand dollars ($1,000)
but less than five thousand dollars ($5,000), and the Participant does not elect to have such distribution paid directly to an
eligible retirement plan specified by the Participant in a direct rollover or to receive the distribution directly in cash, then
the distribution will be paid in a direct rollover to an individual retirement account designated by the Benefits Management Committee.
The value of any delisted stock that is no longer publicly traded but that is held in the Participant’s Brokerage Account
shall not be considered for purposes of the preceding valuation. Any such delisted stock shall be distributed in-kind where the
value of the Participant's vested account balances (not including Rollover Contributions) in all qualified defined contribution
plans of Arconic, the Subsidiaries and Affiliates is less than five thousand dollars ($5,000), in a direct rollover to an individual
retirement account designated by the Benefits Management Committee. Upon such distribution of de-listed stock, the amounts distributed
will be reported for income tax purposes using reasonable methods available at such time and determined by the Plan.

 

(ii)          If
the Current Market Value of all of the Participant's vested account balances in all defined contribution plans of Arconic, the
Subsidiaries and Affiliates exceeds five thousand dollars ($5,000), the distribution is made upon the consent of the Participant,
or surviving spouse if applicable, and if no consent is given and no claim for benefits has been made, such distribution is made
in total upon his or her attainment of age 69. Prior to the distribution of the total Current Market Value of the Participant's
total account balance, the Participant, or the Beneficiary in the case of a Participant who dies with an account balance in the
Plan, may request four partial distributions (subject to a $250.00 minimum) during each Plan Year in which the account balance
is maintained in the Plan. Notwithstanding the foregoing, in the event that a claim for benefits is made, a distribution is made
no later than the 60th day after the latest of the last day of the Plan Year in which occurs: (1) the date on which the Participant
attains age 65, (2) occurs the tenth anniversary of the year in which the Participant commenced participation in the Plan,
or (3) the Participant terminates his or her service with the Participating Employer.

 

(iii)          If
a distribution is one to which Sections 401(a)(11) and 417 of the Code do not apply, such distribution may commence less than 30
days after the notice required under Section 1.411(a)-11(c) of the Income Tax Regulations is given, provided that:

 

a.            the
Plan Administrator clearly informs the Participant that the Participant has a right to a period of at least 30 days after receiving
the notice to consider the decision of whether or not to elect a distribution (and, if applicable a particular distribution option),
and

 

b.            the
Participant, after receiving the notice, affirmatively elects a distribution.

 

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(iv)            If
the Participant dies with an account balance in the Plan, the entire interest of the Participant will be distributed not later
than 5 years after the death of the Participant.

 

(b)            Upon
any distribution of Company Stock from the Arconic Stock Fund, the Trustee delivers to the recipient a certificate representing
the number of whole shares of Company Stock being distributed and cash equal to the Current Market Value on the Effective Date
of distribution of any fractional interest in a share being distributed. With respect to any shares of Company Stock which are
to be sold for the account of the recipient, the Trustee may, at its option (1) purchase such shares for Plan purposes at
the Current Market Value on the Effective Date of distribution, or (2) sell such shares on the open market for the account
of the recipient.

 

(c)            Notwithstanding
the foregoing provisions of this Section, distribution of a Participant's account balances commences the April 1 next following
the calendar year in which the Participant attains age 70-1/2 years and in accordance with Section 12(b) (or, for Participants
transferred to this Plan from the Predecessor Plan who were already receiving distributions from the Predecessor Plan after reaching
their required distribution dates, April 1 of the calendar year following the calendar year in which the Participant attained
age 70-1/2).

 

(d)            Notwithstanding
the foregoing, if a Participant is reemployed by a Participating Employer, then distribution of his or her account balances other
than minimum required distributions under Section 401(a)(9) of the Code, if any, payable to him or her during the period
of his or her reemployment is suspended until his or her subsequent termination from employment. Upon his or her subsequent termination
from employment, the Participant's account balances are paid in accordance with the foregoing provisions of this Section 12.

 

(e)            Notwithstanding
paragraphs (a) and (b) above, in the event that any qualified defined contribution plan is merged with this Plan or this
Plan is the surviving plan with respect to any assets of Participants of a merging plan which are transferred to this Plan, any
distribution options contained in the merging plan which are not contained in this Plan may be continued to be distribution options
available to the said Participant of the merging plan for distribution of his or her account, in accordance with Section 411(d)(6) of
the Code.

 

		SECTION 13.	GENERAL
PROVISIONS WITH RESPECT TO WITHDRAWALS

 

(a)            Effective
Date of Withdrawal. The Effective Date of any withdrawal from the Plan is the Business Day such request for withdrawal is Properly
Received by the Plan Administrator or its Designee.

 

(b)            Distribution
Limitations. Distribution of all amounts payable under the Plan to a Participant commences:

 

(i)            Not
later than (1) the required distribution dates or (2) the required distribution date, without violating Treasury regulations,
if any, over the life of the Participant or over the lives of the Participant and a Beneficiary, or over a period not extending
beyond the life expectancy of the Participant and a Beneficiary.

 

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(ii)            If
distribution of the Participant's interest in the Plan has begun in accordance with paragraph (i)(2) above and the Participant
dies before his or her entire interest is distributed, the Participant's remaining interest in the Plan will be distributed at
least as rapidly as under the method of distribution stated under paragraph (i)(2) above being used on the date of the Participant's
death. If the Participant dies before the distribution of his or her interest in the Plan has begun in accordance with paragraph
(i) (2) above, the entire interest of the Participant will be distributed not later than five years after the death of
the Participant.

 

For purposes of this
paragraph (b), the "required distribution date" means the date prescribed by Treasury Regulations, as amended from time
to time, which is April 1 of the calendar year following the calendar year in which the Participant attains age 70-1/2.

 

For the purposes of
this paragraph (b), any amount paid to a minor child is treated as if it had been paid to the surviving spouse if such amount will
become payable to the surviving spouse upon such child reaching majority or any other designated event as may be permitted by Treasury
Regulations, if any.

 

(c)            Appendix
D, Minimum Distribution Requirements, provides the Plan provisions to comply with Section 401(a)(9) of the Code and Treasury
Regulations §1.401(a)(9)-2 through -9, as applicable, relating to required minimum distributions.

 

		SECTION
                            14.	NONASSIGNABILITY

 

Except
as required under ERISA, no right or interest of any Participant or Beneficiary in the Plan or in such Participant’s accounts
is (a) assignable or transferable or subject to any lien in whole or in part, either directly or by operation of law or otherwise,
including, but not by way of limitation, alienation, execution, levy, garnishment, attachment, pledge, bankruptcy or in any other
manner other than a transfer as a result of death or mental incompetence, or (b) liable for, or subject to, any obligation
or liability of such Participant or Beneficiary. Such portions of the Savings, Participating Employer Contributions, Negotiated
Deferral Contributions, Restricted Discretionary Contributions, and Employer Retirement Income Contributions in the account of
a Participant as are payable to another in accordance with the provisions of a “qualified domestic relations order,”
as defined in Section 414(p) of the Code and any applicable regulations thereunder, are distributed to the party designated
in and in accordance with said order. The Effective Date of withdrawal for any such distribution is the first Business Day following
the Plan Administrator’s determination that the said order is in compliance with Section 414(p) of the Code and
any applicable regulations thereunder, and such distribution is made as soon as administratively practical thereafter. The Plan
Administrator or Designee has promulgated procedures to determine whether a domestic relations order is a qualified domestic relations
order. The procedures will be provided to a participant or alternate payee upon written request, or upon receipt of the domestic
relations order by the Plan Administrator or Designee. An administrative fee shall be charged to process each qualified
domestic relations order. The amount of any such the fee shall be determined by the Benefits Management Committee.

 

	SECTION
15.
	EXTENT OF PARTICIPANT'S RIGHTS

 

(a)            General.
No person has any interest in or right to any part of the assets held under the Plan or the income thereon, except as and to the
extent expressly provided in the Plan.

 

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At
the time of withdrawal by a Participant or Beneficiary, he or she will receive shares or cash. There is no guarantee that the Current
Market Value of any investment will be equal to or greater than the amount of the Participant's Savings therein. This Plan is designed
to comply with and operate under Section 404(c) of ERISA. A Participant and his or her Beneficiaries assume all risk
in connection with any decrease in the value of any investments allocated to such Participant's account. For purposes of
Section 404(c)(1) of ERISA, in the absence of Participant or Beneficiary investment direction, a Participant or Beneficiary
shall be treated as having exercised control over the assets invested in any investment which qualifies as a QDIA in accordance
with Section 404(c)(5) of ERISA and the regulations promulgated thereunder.

 

The Plan does not and
should not be construed as conferring any rights upon any person for a continuation of employment, nor does it interfere with the
rights of Arconic or any Subsidiary or Affiliate to terminate the employment of any person or to take any personnel action affecting
such person without regard to the effect which such action might have upon such person or his or her Beneficiaries as a prospective
recipient of benefits under the Plan.

 

(b)            Military
Service. Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect
to qualified military service will be provided in accordance with Section 414(u) of the Internal Revenue Code. The Beneficiary
of any Participant who dies, while performing “qualified military service” (as defined in Code Section 414(u)),
shall be entitled to any additional benefits (other than contributions relating to the period of qualified military service, but
including any other survivor benefits) that would have been provided under the Plan had the Participant resumed active employment
on the day preceding the Participant's death and then incurred a Severance from Service Date on account of death. This Section is
intended to comply with, and shall be interpreted to comply with, Code Section 401(a)(37).

 

		SECTION
                            16.	MANAGEMENT
OF FUNDS

 

(a)            General.
Savings, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions, and Employer
Retirement Income Contributions paid to the Trustee are invested as provided in the Plan.

 

(b)            Trustees
and Investment Managers. The Board or its designee (including but not limited to the Benefits Investments Committee when acting
in accordance with the charter of the Benefits Investments Committee) has the responsibility to appoint, review the performance
of, and remove where deemed appropriate, one or more Trustees, and one or more investment managers, each of which is a bank, insurance
company or other investment adviser qualified under Section 3(38) of ERISA. The duties of each Trustee and manager, to the
extent not set forth in the Plan, are set forth in a trust agreement or other written documents approved by the Board or its designee.
Except as otherwise provided in such documents or in the Plan, each such investment manager has sole investment control and management
responsibility with respect to those assets of the Plan for which it is designated the investment manager. The Board may delegate
its authority to appoint an investment manager, to remove an investment manager, to approve and direct the execution by the proper
officer or officers of Arconic of amendments to agreements with any investment manager, and to review the performance of any such
managers. Such delegation also includes the authority to approve written documents setting forth the duties of any manager and
to direct the execution of investment management agreements by the proper officer or officers of Arconic. No Trustee has any investment
responsibility for any assets which are subject to the investment control of another investment manager, and as to such assets
it only has custodial duties if it is the custodian.

 

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(c)            Designation
of Investment Strategy. The Board may from time to time designate, as to part or all of the assets of the Plan, that a separate
fund or funds be established. Except as otherwise provided in the Plan, as to each such separate fund the Board or its designee
may specify the investment strategy to be employed and the investment manager is thereupon relieved of responsibility for assuring
that the specified investment strategy creates suitable diversification of the overall assets of the Plan, provided that such investment
manager has followed such specifications.

 

(d)

 

(1)            Acquisition
of Fixed Income Investments by the Trustee. The Trustee will enter into investment arrangements with insurance companies, banks
or money managers, as directed by an investment manager duly appointed by the Board or its designee for the Fixed Income Fund.
The Trustee will invest all Savings and other amounts to be invested in the Fixed Income Fund in accordance with such directions.

 

(2)            Accounting
for Participant's Accounts. Participants' investments in the Fixed Income Fund are accounted for on a unit basis. The Trustee
allocates to the accounts of each Participant such units in the Fixed Income Fund as may be acquired with funds (if any) in such
Participant's accounts to be invested therein. Such allocations will be made in a uniform manner as determined by the Benefits
Investments Committee. Transfers and withdrawals are valued based on the Current Market Value per unit on the Effective Date of
the transfer or withdrawal.

 

(e)

 

(1)            Acquisition
of Company Stock by Trustee. The Savings, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted
Discretionary Contributions, and Employer Retirement Income Contributions to be invested in the Arconic Stock Fund are used by
the Trustee to purchase from time to time shares of Company Stock (i) from Arconic, at the Current Market Value thereof, or
(ii) to the extent Arconic does make shares available for purchase by the Trustee for such purpose, on the open market unless
Arconic otherwise directs. The Trustee, to the extent reasonable, invests any cash held in the fund in cash equivalents (including
commercial paper). The Trustee also holds for the purpose of allocation to the accounts of individual Participants as hereinafter
provided (i) shares of such stock which the Trustee has acquired upon withdrawal by a Participant, and (ii) shares of
such stock which the Trustee has acquired pursuant to Participants’ elections to transfer investments under the provisions
of Section 9. All shares of such stock purchased by the Trustee are carried in the accounts of the Trustee at the actual cost
thereof, including any taxes, commissions, etc. which are not paid by the Participating Employer, incident to the purchase.

 

(2)            Allocation
of Stock to Participants' Accounts. Participants' investments in the Arconic Stock Fund are accounted for on a unit basis.
The Trustee allocates to the accounts of each Participant such units in the Arconic Stock Fund as may be acquired with funds (if
any) in such Participants' accounts to be invested therein. Such allocations are made in a uniform manner as determined by the
Benefits Investments Committee. Transfers and withdrawals are valued based on the Current Market Value per unit on the Effective
Date of the transfer or withdrawal.

 

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(3)            Allocation
of Dividends to Participants' Accounts. In valuing the units, dividends are accounted for on the date the Board declares the
dividend. Once received, dividends are invested in the Arconic Stock Fund. A Participant may elect to receive an annual distribution
of the dividends posted to their account during the Plan Year. Such election must be made prior to the last dividend record date
in the Plan Year, and distribution will be made as soon as administratively practical following the date the final dividends are
posted to the Participant's account. Distribution will be paid in a lump sum from the Arconic Stock Fund. To the extent the Participant's
account balance in the Arconic Stock Fund is insufficient to pay the dividends, the balance of the distribution will be paid pro-rata
from the Participant's other Core Fund investments.

 

(4)            Stock
Splits & Dividends. Shares of Company Stock received by the Trustee by reason of a stock split or stock dividend become
part of the Arconic Stock Fund.

 

(5)            Voting.
The Trustee exercises its voting rights in accordance with written directions of each Participant with respect to at least the
number of whole shares of Company Stock held by it in the Participants' accounts on the record date for voting. With respect to
all other shares of Company Stock held by the Trustee on the record date for voting (the "Other Shares"), including but
not limited to, (i) fractional shares in the Participants' accounts (if they are not subject to direct voting), (ii) shares
for which it has not received written directions from any Participant, and (iii) any shares which have not yet been allocated
to Participants' accounts, the Trustee exercises its voting rights in the same proportion (for, against, abstain and so on) on
each matter as it exercises its voting rights with respect to shares of Company Stock for which voting directions were received
from all participants in all plans which participate in the Arconic Stock Fund.

 

(f)

 

(1)            Acquisition
of Other Investments by Trustee. Arconic has and in the future will enter into investment arrangements with various investment
managers. Any such arrangements must be approved by the Benefits Investments Committee. Expenses incurred in connection with the
purchase or sale of securities by the investment manager are paid from the applicable Investment Fund.

 

(2)            Accounting
for Participant's Accounts. Participants' investments in the Core Funds are accounted for on a unit basis. The Trustee allocates
to the accounts of each Participant such units in each of the Core Funds as may be acquired with funds (if any) in such Participant's
accounts to be invested therein. Such allocations will be made in a uniform manner as determined by the Benefits Investments Committee.
Transfers and withdrawals are valued based on the Current Market Value per unit on the Effective Date of the transfer or withdrawal.

 

(g)          Transition
Provision. Pending investment under an arrangement established pursuant to this Section, and pending distribution to Participants
following withdrawal from such an arrangement, cash is invested by the Trustee in short-term fixed income securities or cash equivalents
(including commercial paper) and the value of such securities or cash equivalents is allocated to the accounts of Participants
in an equitable manner determined by the Benefits Investments Committee.

 

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(h)          Brokerage
Account. Participants have the right to invest and personally manage investments outside of the Core Funds by investing through
the Brokerage Account offered by a broker selected by the Plan (“Broker”). Investment options through the Brokerage
Account are mutual funds (other than those already available as Core Funds), any taxable equity or fixed income security publicly
traded in a U.S. security market (including American Depository Receipts), and money market funds. Pre-Tax Savings, After-Tax Savings,
Rollover Contributions, Participating Employer Contributions, Negotiated Deferral Contributions, Restricted Discretionary Contributions,
and Employer Retirement Income Contributions that are subject to transfer as provided in Section 9, may not be directly invested
in the Brokerage Account, nor may withdrawals, distributions or loans be made directly from the Brokerage Account. Such transactions
must be processed through the Core Funds. An administrative fee shall be charged to each Participant who maintains a balance in
the Brokerage Account. The amount of any such the fee shall be determined by the Benefits Management Committee.

 

(1)            Restrictions
of Trading in the Brokerage Account. Certain restrictions apply to investment vehicles that may be available through the Brokerage
Account: Specifically, the following investments are not available through the Brokerage Account: Arconic company stock (common
or preferred) and bonds; funds currently available in the Core Funds; tax-free funds; securities of publicly traded limited partnerships;
options contracts; purchase on short sales, futures, precious metals, and currencies; real estate (other than funds); annuities;
life insurance policies; collectibles; commodities; foreign stocks (not American Depository Receipt); and margin trading and trade-away
trades that are placed by another broker and settle with the Broker.

 

(2)            Trading
within the Brokerage Account. Investment purchases in the Brokerage Account may be made after such amounts are transferred
from the Participant’s Core Fund accounts. Transfers from Core Funds may be made as provided in Section 9. Transferred
funds will be held in the Broker's money market fund until the Participant’s buy orders are received by the Broker. Trades
may be subject to initial and subsequent investment minimums required by a mutual fund.

 

Transfers are made
out of the Brokerage Account and into the Core Funds from the Schwab money market fund. If there are insufficient funds to make
the requested transfer, the participant must submit a sell order with Schwab. The proceeds of securities sold will be invested
automatically in the Broker's money market fund and will be subsequently transferred out of the Brokerage Account to the Core Funds
as directed by the Participant.

 

(3)            Expenses
Incurred by Trading and Voting. The Broker’s standard commission schedule will be deducted from the Brokerage Account
of the Participant who initiates the trades, and any other fees and expenses incurred through the Brokerage Account will be paid
directly by the Participant.

 

The Broker will execute
proxies for any securities held in the Brokerage Account in accordance with written directions of any Participant.

 

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OTHER
PROVISIONS OF THE PLAN

 

SECTION 17.LOANS

 

(a)          A
Participant may borrow a proportion of the Current Market Value of his or her Savings, Participating Employer, and Negotiated Deferral
Contributions which are eligible for transfer under Section 9(b) of this Plan ("Eligible Loan Account Balance").

 

A Participant may not
borrow Restricted Discretionary Contributions or Employer Retirement Income Contributions or Retiree Medical Savings Contributions.
In addition, a Participant may not borrow Participating Employer Contributions made on or after January 1, 2011 to the Predecessor
Plan or investment gains thereon.

 

A Participant shall pay a $100 processing
fee, or such other amount as may be designated by the Plan Administrator, for each loan request. The fee will be included in the
loan amount, subject to the limitations of this Section 17, and deducted prior to distribution of the loan.

 

A loan to a Participant, when added to the
balance of any other outstanding loans the Participant has under the Plan, cannot exceed the lesser of:

 

(1)            $50,000
reduced to the extent of the highest outstanding loan balance of the Participant's loans outstanding during the 365-day period
immediately preceding the date on which the loan is made; or

 

(2)            50%
of the sum of the Participant's (A) Eligible Loan Account Balance, plus (B) Restricted Discretionary Contributions and
vested portion of Employer Retirement Income Contributions balances.

 

A Participant may refinance
any general purpose loan for any reason at any time (but only once in a twelve-month period), as may be permitted under the Code
or ERISA.

 

(b)          Each
loan to a Participant is secured by a promissory note under which the Participant pledges and grants the Trustee an interest in
the Participant's Eligible Loan Account Balance to the extent of the unpaid loan.

 

(c)          All
loans to Participants are treated as investments of plan assets in their respective accounts. All principal and interest associated
with a Participant's repayment of a loan are credited to his or her Plan account.

 

(d)          The
Plan Administrator has developed a procedure in accordance with the Code and ERISA under which such loans from the Plan will be
made available to Participants which procedure has been approved by the Benefits Management Committee.

 

(e)          Loan
repayments will be suspended under this Plan during a period of military service as permitted under Section 414(u)(4) of
the Internal Revenue Code and the regulations promulgated under Section 72(p) of the Code. Upon the Participant’s
return to active employment, loan repayments will resume and the period of repayment extended in direct proportion of the Participant’s
period of absence for military leave.

 

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(f)          All
loans borrowed by Participants under the Predecessor Plan shall be honored on the same terms and conditions under this Plan.

 

SECTION 18.TRUST

 

All assets of the Plan
are held in trust for the Plan, except as otherwise permitted by applicable law. Arconic has entered into a trust agreement with
a national banking association which acts as Trustee under the Plan. The Board or its designee (including but not limited to the
Benefits Investments Committee when acting in accordance with the charter of the Benefits Investments Committee) may, from time
to time, amend such trust agreement (subject to its terms), remove such Trustee or any Successor Trustee and upon removal or resignation
of a Trustee, appoint a Successor Trustee.

 

SECTION 19.ADMINISTRATION

 

(a)          Duties
of Plan Administrator. The Plan Administrator or its Designee are responsible for the preparation and the filing with governmental
agencies and furnishing to Participants and Beneficiaries of all summaries, descriptions, annual and other reports, notices and
other documents, and information which are required to be so prepared and filed or furnished under ERISA or the Code, retain appropriate
records, and also have all of the other responsibilities and duties of the administrator of the Plan as set forth in ERISA, except
as otherwise provided in the Plan. Each Participating Employer by whom a Participant is employed furnishes to the Plan Administrator
or its Designee any records required for the foregoing.

 

(b)          The
Benefits Management Committee. Except as provided in Section 16 and in paragraph (a) of this Section, or to the extent
that such powers are granted to the Benefits Investments Committee in the Plan or the charter of the Benefits Investments Committee,
the complete authority to control and manage the operation and administration of the Plan is placed in the Benefits Management
Committee, which consists of one or more persons appointed from time to time by the Board.

 

(c)          Duties
of Benefits Management Committee. Subject to the limitations of the Plan, the Benefits Management Committee has the discretionary
authority to: (1) construe and interpret the Plan, (2) interpret administrative forms and other information, (3) make
credibility findings, and (4) establish supplemental regulations for the administration of the Plan and the transaction of
its business. All actions, determinations and interpretations of the Benefits Management Committee will be performed in a uniform
and nondiscriminatory manner to all Participants in similar circumstances. All interpretations of the Plan and determinations of
disputed questions made by the Benefits Management Committee are conclusive, final and binding upon the Participating Employers,
Participants, Beneficiaries, other employees and any other individuals claiming rights under the Plan, subject to a claimant's
request under paragraph (e) of this Section to have the Benefits Management Committee review the denial of a claim. When
making an interpretation or determination, the Benefits Management Committee is entitled to rely upon information furnished by
the individual, Participant, Beneficiary or Participating Employer, unless in accordance with an appeals procedure established
by the Benefits Management Committee, the claimant establishes to the satisfaction of the Benefits Management Committee that Continuous
Service, compensation or other records are erroneous.

 

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(d)          Application
for Benefits. Each person applying for a benefit under the Plan must furnish all information required under procedures approved
by the Benefits Management Committee.

 

(e)          Review
of Denial of Benefits. If any applicant's claim for benefits under the Plan is denied, the applicant will be notified in writing
of such denial. Such notice will set forth the specific reasons for such denial and will be written in a manner calculated to be
understood by the applicant. The applicant will be afforded a reasonable opportunity for a full and fair review by the Benefits
Management Committee or its Designee of the decision denying his or her claim for benefits, in accordance with a claims procedure
which the Benefits Management Committee adopts. After the final determination of an appeal by the Benefits Management Committee
or its Designee, the applicant must file any litigation arising out of the underlying facts or circumstances giving rise to such
claim and appeal, under ERISA or otherwise, within one hundred eighty (180) days following the date of the final notice provided
by the Benefits Management Committee or its Designee.

 

(f)          Extent
of Benefits Management Committee's and Benefits Investments Committee’s Responsibility. The members of the Benefits Management
Committee and Benefits Investments Committee will act in a prudent manner in the performance of their duties. No member will be
personally liable by virtue of any contract, agreement, bond or other instrument made or executed by or on behalf of such member
as a member of the Benefits Management Committee or Benefits Investments Committee. To the extent permitted by ERISA, no member
of the Benefits Management Committee or Benefits Investments Committee will be liable for any mistake of judgment made by himself
or herself or any other member, nor for any loss, unless resulting from his or her own gross negligence or willful misconduct,
and no member will be liable for the neglect, omissions or wrongdoing of any other member thereof, or of the agents or counsel
of the Benefits Management Committee or Benefits Investments Committee, as the case may be. To the extent permitted by law, Arconic
will indemnify and save harmless each member of the Benefits Management Committee and Benefits Investments Committee against all
expenses and liabilities arising out of his or her services as such, except for expenses and liabilities arising from such member's
own gross negligence or willful misconduct as determined by the Board.

 

(g)          Relationship
to Other Fiduciaries. Each fiduciary in carrying out its responsibilities under the Plan may rely upon any direction, information
or action of another fiduciary as being proper under this Plan or the documents under which the assets of the Plan are managed,
and is not required to inquire into the propriety of any such direction, information, or action. It is intended under this Plan
and such documents that each fiduciary is responsible for the proper exercise of its own powers, duties, responsibilities and obligations
under this Plan and such documents and is not responsible for any act or failure to act of another fiduciary, except as otherwise
provided by ERISA.

 

(h)          Multiple
Fiduciaries. Any person or group of persons may serve in more than one fiduciary capacity with respect to the Plan.

 

(i)          Further
Allocation of Fiduciary Duties. Any two or more fiduciaries named herein or appointed by the Board as provided herein may from
time to time agree in writing with respect to the allocation of duties and responsibilities under the Plan, including fiduciary
responsibilities, among the fiduciaries so agreeing, provided however that any reallocation of fiduciary responsibilities clearly
allocated by the Plan or by the Board requires prior approval of the Board.

 

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(j)          Delegation
of Fiduciary Duties. Any fiduciary named herein or appointed by the Board as provided herein may designate another person or
persons to carry out any or all of the duties and fiduciary responsibilities which it has under the Plan and which are specified
in such designation, except that no Trustee may delegate fiduciary responsibilities with respect to investment functions without
the prior approval of the Board.

  

(k)          Delegation
of Ministerial Duties. Any fiduciary named herein, appointed by the Board as provided herein, or designated under paragraph
(j) above may delegate ministerial duties as follows: employ one or more persons to render advice, including legal and accounting
services, with regard to any responsibility such fiduciary has under the Plan, may appoint ministerial agents (including brokers
or others who may execute investment transactions) and may delegate to others its clerical and other non-fiduciary functions.

 

(l)          No
Added Remuneration for Employees. No member of the Benefits Management Committee or Benefits Investments Committee and no other
person who renders services to or for the Plan may receive remuneration for services as such if he or she also is an employee of
Arconic, a Subsidiary or Affiliate.

 

SECTION 20.AMENDMENT,
MODIFICATION, SUSPENSION OR TERMINATION

 

(a)          Rights
Reserved. Arconic reserves the right (subject to the terms of the applicable Bargaining Agreement), by action of the Board
or the Benefits Management Committee taken in accordance with the Board's or Benefits Management Committee's operating procedures,
(1) to amend, modify, suspend or terminate the Plan or to suspend or completely discontinue contributions to the Plan, and
(2)  to terminate the Participation in the Plan of any Participating Employer or any designated group of Eligible Employees
employed either within or outside the U.S. Any Participating Employer may terminate its participation in the Plan or suspend or
discontinue its contributions under the Plan at any time upon 30 days prior written notice to the Plan Administrator. Such 30 day
notice requirement may be waived by the Benefits Management Committee. No such amendment or other action relating to the Plan may
reduce the amounts then credited to any Participant's account, or provide or have the effect of providing that the securities and
funds held in trust for the Plan or the income thereof may be used for or devoted to purposes other than the exclusive benefit
of Participants and their Beneficiaries and for the payment of expenses of the Plan.

 

(b)          Sale
of Assets, etc. In the event any assets of any business of any Participating Employer are transferred to another entity
by sale, merger, consolidation or otherwise, and the entity to which said assets are transferred has in effect, or thereupon establishes,
a tax-qualified plan and related trust for the exclusive benefit of employees which qualify under the applicable provisions of
the Code, all assets under the Plan, held in the accounts of Participants who continue in the employment of the transferee entity,
may be transferred and paid, for their respective accounts, to the trust for the tax-qualified plan of said transferee entity,
provided that any such transfer of investments will be effected in such manner as to preclude, for federal income tax purposes,
a termination of the Plan or the constructive receipt of benefits thereunder with respect to said Participants.

 

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(c)          Transfer
of Plan Assets.

 

(1)            Notwithstanding
the foregoing, in the event of any merger or consolidation of the Plan with, or a transfer of any of the assets and liabilities
of the Plan to, any other plan, each affected Participant must (as if such plan were terminated immediately after such merger,
consolidation or transfer) be entitled to a benefit under such other plan which is equal to or greater than the benefit he or she
would have been entitled to receive under the Plan immediately prior to such merger, consolidation or transfer (as if the Plan
had then terminated). In the event that assets are transferred to this Plan from any other plan sponsored by Arconic or any Subsidiary
or Affiliate, each Participant who has assets transferred from such plan or plans will be entitled to a benefit under this Plan
which is equal to or greater than the benefit he or she had under such other plan. Any protected optional form of benefits provided
under said plan will be maintained under this Plan. These provisions do not constitute a guaranty against investment losses.

 

(2)            In
the event a participant in the Arconic Corp. Salaried 401(k) Plan becomes an Eligible Employee under this Plan, all of the
participant's accounts in the Arconic Corp. Salaried 401(k) Plan will be transferred to analogous accounts in this Plan as
soon as reasonably practical after the Plan Administrator or Designee receives notice.

 

(3)            In
the event a Participant ceases to be an Eligible Employee under this Plan and the Participant becomes an eligible employee under
the Arconic Corp. Salaried 401(k) Plan, all of the Participant's accounts will be transferred to analogous accounts in the
Arconic Corp. Salaried 401(k) Plan, as soon as reasonably practical after the Plan Administrator or Designee receives notice
and the Participant ceases to be a Participant, and will be entitled to no further benefits under this Plan.

 

SECTION 21.ADMINISTRATIVE
EXPENSES

 

Except as otherwise
provided in the Plan, all costs and expenses incurred in administering the Plan, including the expenses of the Benefits Management
Committee or Benefits Investments Committee, the fees and expenses of the Trustee, the fees and charges payable under the investment
arrangements, and other legal and administrative expenses, are paid by the Plan.

 

Investments in the
Core Funds will be subject to an administrative expense fee, which will be used to pay the expenses of the Plan. The fee will be
periodically adjusted by the Plan Administrator based on the actual expenses of the Plan.

 

SECTION 22.SELECTION
OF BENEFICIARIES

 

(a)          Designation
of Beneficiary. Subject to such administrative procedures as may be adopted from time to time, the Beneficiary with respect
to all of the assets in the accounts of a Participant will be the Participant's spouse if then living, or if not, the Participant's
estate. With the written notarized consent of a Participant's spouse, a Participant may file with the Plan Administrator or its
Designee a written designation of a Beneficiary or Beneficiaries other than his or her spouse. In the event the designation of
such other Beneficiary is revoked in writing by the Participant, his or her spouse will become the Beneficiary of said assets until
such time as the Participant, with his or her spouse's written notarized consent, designates in writing another Beneficiary or
Beneficiaries. Beneficiaries named under the Predecessor Plan shall be recognized for purposes of this Plan.

 

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In the event a Participant
certifies that he or she does not have a spouse, a Beneficiary or Beneficiaries with respect to all or part of the assets in the
accounts of the Participant may be designated or revoked by the sole action of the Participant.

 

If there is no designated
Beneficiary, or if no Beneficiary is living at the time of the Participant's death, the Beneficiary is the Participant's spouse
if then living, or if not, the Participant's estate.

 

Written designations
of a primary Beneficiary or a, contingent Beneficiary to receive the assets of a Participant in the case where the primary Beneficiary
is deceased, spousal consents, and revocations are made on a form or forms approved by the Plan Administrator. Any such written
designation, consent or revocation becomes effective on the calendar day on which such designation, consent or revocation is Properly
Received. After the death of a Participant, a properly designated Beneficiary may name his or her own Beneficiary to receive a
distribution of the Beneficiary’s account balances when the Beneficiary is deceased (“Subsequent Beneficiary”).
A Subsequent Beneficiary shall receive a total distribution of the Subsequent Beneficiary’s account balance within the later
of: (i) ninety (90) days after death of the Beneficiary who named such Beneficiary or (ii) five (5) years of the
Participant’s death.

 

(b)          Other
Payments. In case of incapacity of a Participant or Beneficiary entitled to a benefit under the Plan, benefit payment are made
to such person's legal representative who makes claim therefore, or if no such claim has been received, to such other person or
persons as the Benefits Management Committee, utilizing objective criteria, selects from among dependents, next of kin, or friends.
Any payment of a benefit under the Plan in accordance with the provisions of this Section is a complete discharge of any liability
for the payment of such benefit under the Plan.

 

SECTION 23.PARTICIPANT'S
STATEMENT

 

A statement showing each Participant's interest
in each of the Plan's Investment Funds will be made available at least quarterly.

 

SECTION 24.EFFECTIVE
DATE OF PLAN

 

The Plan is effective February 1, 2020.

 

SECTION 25.CONSTRUCTION

 

It is intended that
the Plan conform to the applicable requirements of ERISA and the Code, and that the Plan and related trust agreement are considered
one if and to the extent necessary for compliance therewith. Except to the extent otherwise provided in ERISA and the Code, the
Plan is construed, regulated and administered under the laws of the state of Delaware, including its applicable statute of limitations
(as such may be superseded by any limitations period provided under the terms of the Plan).

 

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APPENDIX
A

 

LIMITATIONS
AND DISCRIMINATION TESTING

 

1.            Pre-Tax
Savings for any Plan Year of a Participant is subject to the following limitations:

 

(a)          The
applicable limit as defined in Treasury Regulation section 1.402(g)-1(d) with respect to the Pre-Tax Savings of this Plan
and elective deferrals of all other plans, contracts, or arrangements of the employer

 

(b)          if
the Participant is a Highly Compensated Employee with respect to any Participating Employer for that year, the amount that may
be made on his or her behalf in compliance with the special discrimination tests of Sections 401(k) and 401(m) of the
Code for that year, as applied separately to each Plan;

 

(c)          the
amount deductible by the Participating Employer for that year under Section 404 of the Code; and

 

(d)          the
maximum permitted amount under Appendix B of the Plan.

 

2.            To
conform the operation of the Plan to the requirements of Sections 401(k) and 401(m) of the Code and the limitations of
Paragraphs (1)(a) and (1)(b) above with respect to any Participant, the Plan Administrator may, without that Participant's
consent:

 

(a)          prospectively
modify or revoke his or her election to have Savings, Participating Employer Contributions, Negotiated Deferral Contributions,
and Restricted Discretionary Contributions made on his or her behalf,

 

(b)          distribute
to him or her the amount by which the Pre-Tax Savings made on his or her behalf for any Year exceeds the limitation of Paragraph
(1) (a) above for that year plus the amount of any income allocable to such excess (but not more than his Pre-Tax Savings
account balance) by the April 15 next following the end of that Plan Year;

 

(c)          distribute
to him or her the amount by which the Pre-Tax Savings made on his or her behalf for any Plan Year exceeds the limitations of Paragraph
(1)(b) above for that year (as determined in accordance with Section 401(k)(8)(B) of the Code) plus the amount of
any income allocable to such excess (but not more than his Pre-Tax Savings account balance) by the end of the Plan Year following
the Plan Year for which the amounts were contributed; and

 

(d)          make
appropriate adjustments to his or her Pre-Tax Savings account to reflect such distributions.

 

3.            Such
modification or revocation described in 2. above is made only if necessary under one of the following circumstances:

 

(a)          to
ensure that the discrimination tests of Section 401(k) of the Code governing permissible levels of Pre-Tax Savings contributions
for both the ESOP and non-ESOP portions of the Plan are met for such Plan Year, or to ensure that one of the following Average
Actual Deferral Percentage tests are met for both the ESOP and non-ESOP portions of the Plan for such Plan Year;

 

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(b)          to
ensure that a Participant's annual additions for any calendar year will not exceed the limitations of Appendix B; or

 

(c)          to
ensure deductibility of the Employer's entire contribution to the Plan for federal income tax purposes.

 

4.            Definitions.
For purposes of this Appendix A, the following terms are defined as follows:

 

(a)          "Actual
Deferral Percentage" means the ratio, expressed as a percentage calculated to the nearest one-hundredth of one percent, of
the amount of Pre-Tax Savings on behalf of an Eligible Employee for a Plan Year to the Eligible Employee's Compensation for the
Plan Year, whether or not the employee was a Participant for the entire Plan Year. A Highly Compensated Employee's Savings include
such savings for the Plan Year which is in excess of the limitations set forth in Section 415(c) (1) of the Code
("Excess Pre-Tax Savings"), but exclude Excess Pre-Tax Savings for Non Highly Compensated Employees. Any Eligible Employee
who does not elect to make Pre-Tax Savings and who does not receive Qualified Matching Contributions for a Plan Year will have
zero Actual Deferral Percentage for the Plan Year.

 

(b)          "Average
Actual Deferral Percentage" means, for the group of Eligible Employees who are Highly Compensated Employees for a Plan Year
or the group of Eligible Employees who are Non-Highly Compensated Employees for the Plan Year, the average of the Actual Deferral
Percentages of all Eligible Employees in such group for the Plan Year.

 

(c)          "Average
Contribution Percentage" means, for the group of Eligible Employees, other than those covered under a Bargaining Agreement,
who are Highly Compensated Employees for a Plan Year or the group of Eligible Employees, other than those covered under a Bargaining
Agreement, who are Non-Highly Compensated Employees for the Plan Year, the average of the Contribution Percentages of all Eligible
Employees in such group for the Plan Year.

 

(d)          "Contribution
Percentage" means the ratio, expressed as a percentage calculated to the nearest one-hundredth of one percent, of the sum
of Participating Employer Contributions and Negotiated Deferral Contributions (other than Qualified Matching Contributions treated
as Elective Deferrals under paragraph 7 of this Appendix) and any After-Tax Savings on behalf of an Eligible Employee for a Plan
Year to the Employee's Compensation for the Plan Year, whether or not the employee was a Participant for the entire Plan Year.
For these purposes, an Eligible Employee's Contribution Percentage for any Plan Year is calculated by excluding any forfeitures
of Excess Aggregate Contributions allocated to the Eligible Employee's account for the Plan Year.

 

(e)          "Compensation"
means the total amount of compensation (within the meaning of Section 415(c)(3) of the Code, and subject to the limitation
of Section 401(a)(17) of the Code) received by an employee from the Employer while an Eligible Employee under the Plan during
the Plan Year. An Eligible Employee's Compensation for a Plan Year includes all Pre-Tax Savings made to the plan for the Plan Year,
and all other such employee savings made by the Employer for the Plan Year to any other plan on behalf of the employee that are
not currently includible in the gross income of the employee under Sections 125, 132(f)(4), 402(a)(8), 402(h) or 403(b) of
the Code, provided that Arconic has elected to treat all such elective contributions as compensation with respect to all employees
under all plans of the Participating Employer.

 

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(f)          "Eligible
Employee" means, with respect to any Plan Year, any employee who is eligible to commence participation in the Plan under Section 1
of the Plan and to have Savings made to the Plan under Section 2 of the Plan for the Plan Year, regardless of whether any
contributions are made to the Plan on behalf of the employee for the Plan Year.

 

(g)          "Excess
Contributions" means, with respect to any Plan Year, the excess of the aggregate amount of Pre-Tax Savings, including Qualified
Matching Contributions treated as Elective Deferrals under paragraph 7 of this Appendix, actually made to the Plan on behalf of
Highly Compensated Employees for the Plan Year over the maximum amount of such contributions permitted under paragraph 5 of this
Appendix.

 

(h)          "Excess
Aggregate Contributions" means, with respect to any Plan Year, the excess of the aggregate amount of Participating Employer
Contributions and any After-Tax Savings actually made to the Plan on behalf of Highly Compensated Employees for the Plan Year over
the maximum amount of such contributions permitted under paragraph 9 of this Appendix.

 

(i)          "Employer"
means Arconic and all other entities as required to be covered under Section 414(c) of the Code.

 

(j)          "Highly
Compensated Employee" includes, for any Plan Year, the following Employees:

 

(i)            A
Highly Compensated Active Employee includes any employee (other than employees who are non-resident aliens and receive no earned
income from sources within the U.S.) who performs service for the Employer during the Determination Year and who during the Look-Back
Year:

 

(1)            was
a 5 % owner (within the meaning pursuant to Section 416(i)(1) of the Code) at any time during the year or the preceding
year, or

 

(2)            for
the preceding year received Compensation from the Employer in excess of $80,000 (as adjusted pursuant to Section 415(d) of
the Code) for such year.

 

(ii)            A
Highly Compensated Former Employee means:

 

(1)            any
employee who was a Highly Compensated Employee when the employee separated from service, or

 

(2)            any
employee who was a Highly Compensated Employee at any time after attaining the age 55.

 

(k)          "Non-Highly
Compensated Employee" means, for any Plan Year, an employee who is not a Highly Compensated Employee.

 

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(l)          "Qualified
Matching Contributions" means any Participating Employer Contributions to this Plan on behalf of Eligible Employees, provided
that amounts attributable to such contributions are not distributable merely on account of the Employee's hardship and are immediately
vested.

 

5.            Average
Actual Deferral Percentage Test. For each Plan Year, the Plan must satisfy one of the following Average Actual Deferral Percentage
tests with respect to Pre-Tax Savings, and Qualified Matching Contributions treated as Pre-Tax Savings under paragraph 7 of this
Appendix, made to both the ESOP and non-ESOP portions of the Plan for the Plan Year:

 

(a)          the
Average Actual Deferral Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year will
not exceed the Average Actual Deferral Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees
for the Plan Year multiplied by 1.25; or

 

(b)          the
Average Actual Deferral Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year will
not exceed the Average Actual Deferral Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees
for the Plan Year multiplied by two, provided that the Average Actual Deferral Percentage for the group of Eligible Employees who
are Highly Compensated Employees for the Plan Year does not exceed the Average Actual Deferral Percentage for the group of Eligible
Employees who are Non-Highly Compensated Employees by more than two percentage points.

 

(c)          The
Average Actual Deferral Percentage Test for all contributions to the ESOP portion of the Plan will be computed separately under
this Section.

 

6.            Special
Rules.

 

(a)          Aggregation
of Plans. In the event that this Plan satisfies the requirements of Section 401(a)(4), 401(k) or 410(b) of the Code
only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such sections of the
Code only if aggregated with this Plan, then the provisions stated herein will be applied by determining the Actual Deferral Percentages
of Employees as if all such plans (excluding other ESOPs) were a single plan. For plan years beginning after December 31,
1989, plans may be aggregated in order to satisfy Section 401(k) of the Code only if they have the same plan year. Notwithstanding
the foregoing, certain plans will be treated as separate if mandatorily disaggregated under regulations under Section 401(k) of
the Code.

 

(b)          In
the event the Plan does not pass the ADP test, the test will be disaggregated by removing from the test all participants who have
not attained age 21 and completed one eligibility year within 6 months of the last day of the plan year.

 

(c)          All
ESOP portions of the Savings Plan shall be aggregated for ADP with the Non-ESOP portions of the Savings Plan.

 

    	Arconic Corp. Hourly 401(k) Plan
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7.          Treatment
of Qualified Matching Contributions. If any Qualified Matching Contributions are made on behalf of Eligible Employees for a Plan
Year, Arconic may elect, in accordance with the regulations of the Secretary of Treasury under Section 401(k) of the
Code, to treat all or a portion of such Qualified Matching Contributions as Pre-Tax Savings for purposes of calculating the Actual
Deferral Percentages of Eligible Employees for the Plan Year. Any such Qualified Matching Contributions for a Plan Year must be
made no later than the end of the 12 month period immediately following the close of the Plan Year.

 

8.          Correction
of Excess Contributions.

 

(a)            General
Rule. If the Plan does not satisfy one of the Average Actual Deferral Percentage tests of paragraph 5 of this Appendix as of the
end of a Plan Year, the Excess Contributions for the Plan Year will be corrected if the Excess Contributions for the Plan Year
are timely recharacterized as employee After-Tax Savings contributions in accordance with subsection (c) below or timely distributed
to Highly Compensated Employees in accordance with subsection (d) below.

 

(b)            Allocation
of Excess Contributions. In the event the nondiscrimination requirements of paragraph 5 of this Appendix are not satisfied for
a Plan Year, the “deferral percentage leveling method” described in the preceding paragraph is performed as a first
step in order to determine the total dollar amount of Excess Contribution to be distributed: a calculation is made to determine
the dollar amount of Elective Deferrals necessary to reduce the deferral percentage of the Highly Compensated Employee with the
highest deferral percentage to be equal to the deferral percentage of the Highly Compensated Employee with the next highest deferral
percentage, and where necessary, calculations are made to determine the dollar amounts of reductions of the deferral percentage
of subsequent Highly Compensated Employees that may be required in order to satisfy the nondiscrimination requirements in paragraph
5 of this Appendix. The total dollar amount of Excess Contribution that must be distributed for the Plan Year is the sum of the
dollar amounts so calculated for each Highly Compensated Employee whose deferral percentage is so reduced.

 

Distribution of the
total amount of Excess Contribution determined in the paragraph above is made using the “dollar leveling method.” Excess
Contributions of the Highly Compensated Employee with the largest dollar amount of contributions for the Plan Year shall be distributed
to the extent necessary to cause that Highly Compensated Employee’s dollar amount of Excess Contributions to equal the dollar
amount of Excess Contributions of the Highest Compensated Employee with the next highest dollar amount of Excess Contributions
for the Plan Year. If the total amount distributed is less than the amount of total Excess Contribution, then both Highly Compensated
Employees’ amounts are reduced to the same dollar level of the Highly Compensated Employee electing the third highest dollar
amount and the dollar leveling process is repeated until the total dollar amount that should be reduced as calculated in the above
paragraph is distributed. However, if reduction of a lesser amount of contributions would equal the total dollar amount of Excess
Contributions that must be distributed for the Plan Year, the lesser amount is distributed.

 

A participant who has
had his contributions reduced in accordance with this subparagraph shall have the amount of such reduction paid to him in cash
as soon as practicable, subject to applicable payroll taxes. The amount of the Excess Contributions to be distributed shall be
reduced by excess deferrals under 402(g) previously distributed for the Plan Year. The distributions of Excess Contributions
shall include the income allocable thereto, including both the income allocable for the Plan Year for which the Contributions were
made and the income for the period between the end of that Plan Year and the date as of which the distribution is made. The distribution
of Excess Contributions shall include the income or loss allocable only for the Plan Year of the Excess Contributions, and will
not include the income or loss for the period between the end of the Plan Year and the date distribution is made. In addition,
any Company Matching Contributions associated with the Excess Contribution shall be treated as forfeiture and used to reduce the
Employer’s contribution under Section 3 of the Plan.

 

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(c)            Recharacterization
of Excess Contributions. Any recharacterization of Excess Contributions as employee After-Tax Savings will be accomplished by the
Plan Administrator in the manner provided in subsection (b) above within 2 1⁄2 months after the close of the Plan Year,
providing such notices and following such procedures as required by regulations of the Secretary of Treasury, and will be deemed
to occur no earlier than the date on which the last Highly Compensated Employee is informed in writing of the amount of his or
her recharacterized Excess Contributions and the consequences thereof. Any Excess Contributions that are recharacterized as employee
after-tax contributions for a Plan Year will, in combination with other Participating Employer Contributions to the Plan for the
Plan Year, satisfy the Average Contribution Percentage tests of paragraph 9 of this Appendix for the Plan Year. Any recharacterized
Excess Contributions remain nonforfeitable under the Plan and are subject to the same distribution requirements as Pre-Tax Savings.
Recharacterized Excess Contributions are taxable to the Highly Compensated Employee for the year in which the Highly Compensated
Employee could have originally elected to receive the Excess Contributions amount in cash.

 

(d)            Distribution
of Excess Contributions. If any Excess Contributions allocated to Highly Compensated Employees for a Plan Year are not corrected
by recharacterization under (c) above, then such Excess Contributions, plus any income and minus any loss allocable thereto,
will be distributed to Highly Compensated Employees no later than 12 months following the close of the Plan Year.

 

(e)            Income
or Loss Allocable to Excess Contributions. The income or loss allocable to the Excess Contributions referred to in subsection (d) above
include the allocable income or loss for the Plan Year of the Excess Contributions and the allocable income or loss for the period
between the end of the Plan Year and the distribution of the Excess Contributions, calculated as follows:

 

The income or loss
allocable for the Plan Year of the Excess Contributions is determined by multiplying the total investment income or loss (including
dividends, interest, realized gains or losses, and unrealized appreciation or depreciation) allocable to the Participant's Pre-Tax
Savings and amounts treated as Pre-Tax Savings under paragraph 7 of this Appendix for the Plan Year by a fraction, the numerator
of which is the Excess Contributions allocated to the Participant for the Plan Year, and the denominator of which is the total
account balance attributable to the Participant's Pre-Tax Savings and amounts treated as Pre-Tax Savings under paragraph 7 of this
Appendix as of the end of the Plan Year, reduced by the investment gain (or increased by the investment loss) allocated to such
total amount for the Plan Year.

 

The income or loss
allocable to the Excess Contributions referred to in subsection (d) above will include only the income or loss allocable for
the Plan Year of the Excess Contributions, and not the income or loss for the period between the end of the Plan Year and the distribution
of Excess Contributions.

 

(f)            Coordination
with Excess Pre-Tax Savings. The amount of any Excess Contributions to be recharacterized under subsection (c) above or distributed
under subsection (d) above with respect to any Highly Compensated Employee for a Plan Year is reduced by any excess Pre-Tax
Savings previously distributed to the Highly Compensated Employee for the employee's taxable year ending with or within the Plan
Year.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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(g)            Accounting
for Excess Contributions. The amount of Excess Contributions allocated to a Highly Compensated Employee for a Plan Year that is
recharacterized under subsection (c) above or distributed under subsection (d) above is attributed first to the Participant's
Pre-Tax Savings for the Plan Year and then, to the extent such Excess Contributions exceed the Participant's Pre-Tax Savings for
the Plan Year, attributed to amounts treated as Pre-Tax Savings under paragraph 4 of this Appendix in proportion to the amounts
of such contributions on behalf of the Participant for the Plan Year.

 

9.            Average
Contribution Percentage Tests. For each Plan Year for which Participating Employer Contributions are made to the Plan (other than
Qualified Matching Contributions treated as Pre-Tax Savings for the Plan Year under paragraph 7 of this Appendix) or any After-Tax
Savings are made to the Plan (including any Excess Contributions recharacterized as After-Tax Savings for the Plan Year under paragraph 8(c) of
this Appendix), both the ESOP and non-ESOP portions of the Plan will satisfy one of the following Average Contribution Percentage
tests for the Plan Year:

 

(a)            the
Average Contribution Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year will
not exceed the Average Contribution Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees for
the Plan Year multiplied by 1.25; or

 

(b)            the
Average Contribution Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan Year will
not exceed the Average Contribution Percentage for the group of Eligible Employees who are Non-Highly Compensated Employees for
the Plan Year multiplied by two, provided that the Average Contribution Percentage for the group of Eligible Employees who are
Highly Compensated Employees for the Plan Year does not exceed the Average Contribution Percentage for the group of Eligible Employees
who are Non-Highly Compensated Employees by more than two percentage points.

 

(c)            the
Average Contribution Percentage Test applies separately to the ESOP portion of the Plan.

 

10.          Special
Rules.

 

(a)            Aggregation
of Plans. In the event that this Plan satisfies the requirements of Section 401(a)(4), 401(m) or 410(b) of the Code
only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such sections of the
Code only if aggregated with this Plan, then the provisions stated herein will be applied by determining the Contribution Percentages
of Employees as if all such plans were a single plan. For plan years beginning after December 31, 1989, plans may be aggregated
to satisfy Section 401(m) of the Code only if they have the same plan year. Notwithstanding the foregoing, certain plans
will be treated as separate if mandatorily disaggregated under regulations under Section 401(k) of the Code.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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(b)           In
the event the Plan does not pass the ACP test, the test will be disaggregated by removing from the test all participants who have
not attained age 21 and completed one eligibility year within 6 months of the last day of the plan year.

 

(c)           All
ESOP portions of the Savings Plan shall be aggregated for ACP with the Non-ESOP portions of the Savings Plan.

 

11.          Treatment
of Pre-Tax Savings as Participating Employer Contributions.

 

Arconic may elect,
in accordance with the regulations of the Secretary of Treasury under Section 401(m) of the Code, to treat all or a portion
of the Pre-Tax Savings made on behalf of Eligible Employees for a Plan Year as Participating Employer Contributions for purposes
of calculating the Contribution Percentages of Eligible Employees for the Plan Year. Any such Pre-Tax Savings for a Plan Year must
be made no later than the end of the 12 month period immediately following the close of the Plan Year. Notwithstanding the preceding,
Arconic may elect to treat Pre-Tax Savings as Participating Employer Contributions for purposes of calculating Contribution Percentages
only if one of the Average Actual Deferral Percentage Tests of paragraph 5 of this Appendix is satisfied before the Pre-Tax Savings
are treated as Participating Employer Contribution for the Plan Year, and one of the Average Actual Deferral Percentage Tests of
paragraph 5 of this Appendix continues to be satisfied for the Plan Year excluding the Pre-Tax Savings treated as Participating
Employer Contributions for the Plan Year.

 

12.          Correction
of Excess Aggregate Contributions.

 

(a)          General
Rule. If the Plan does not satisfy one of the Average Contribution Percentages tests of paragraph 9 of this Appendix as of the
end of a Plan Year, the Excess Aggregate Contributions for the Plan Year will be corrected by the Employer if the Excess Aggregate
Contributions for the Plan Year are forfeited or timely distributed to Highly Compensated Employees in accordance with subsection
(c) below.

 

(b)          Allocation
of Excess Aggregate Contributions. In the event Excess Aggregate Contributions are made to the Plan for a Plan Year, the Contribution
Percentage for the Highly Compensated Employee with the largest dollar amount of deferrals for the Plan Year will be reduced to
minimum extent necessary either:

 

(i)            to
enable the Plan to satisfy one of the Average Contribution Percentage tests of paragraph 9 of this Appendix for the Plan Year;
or

 

(ii)           to
cause the Highly Compensated employee’s Contribution Percentage to equal the next highest Contribution Percentage of any
Highly Compensated Employee for the Plan Year.

 

This process is repeated
until the Average Contribution Percentage for the group of Eligible Employees who are Highly Compensated Employees for the Plan
Year is sufficiently reduced to enable the Plan to satisfy one of the Average Contribution Percentage tests of paragraph 9 of this
Appendix for the Plan Year. The amount of Excess Aggregate Contributions to be allocated to each Highly Compensated Employee for
the Plan Year is equal the total After-Tax Savings and Participating Employer Contributions, including Pre-Tax Savings on behalf
of the Highly Compensated Employee for the Plan Year minus the amount determined by multiplying the Highly Compensated Employee's
reduced Contribution Percentage (as determined above) by the employee's Compensation for the Plan Year.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
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(c)          Forfeiture
or Distribution of Excess Aggregate Contributions. Excess Aggregate Contributions, plus any income or minus any loss allocable
thereto, must be forfeited to the extent attributable under subsection (f) below to Participating Employer Contributions
that are not vested, and otherwise distributed to Highly Compensated Employees no later than 12 months following the close of
the Plan Year.

 

(d)          Income
or Loss Allocable to Excess Aggregate Contributions. The income or loss allocable to the Excess Aggregate Contributions referred
to in subsection (c) above include the allocable income or loss for the Plan Year of the Excess Aggregate Contributions and
the allocable income or loss for the period between the end of the Plan Year and the distribution of the Excess Aggregate Contributions,
calculated as follows:

 

(i)            the
income or loss allocable for the Plan Year of the Excess Aggregate Contributions is determined by multiplying the total investment
income or loss (including dividends, interest, realized gains or losses, and unrealized appreciation or depreciation) allocable
to the Participant's After-tax Savings, Participating Employer Contributions, and any other amounts taken into account under this
section for the Plan Year by a fraction, the numerator of which is the Excess Aggregate Contributions allocated to the Participant
for the Plan Year, and the denominator of which is the total account balance attributable to the Participant's After-tax Savings,
Participating Employer Contributions and other amounts taken into account under this section as of the end of the Plan Year, reduced
by the investment gain (or increased by the investment loss) allocated to such total amount for the Plan Year;

 

(ii)           the
income or loss allocable to the period (if any) between the end of the Plan Year of the Excess Aggregate Contributions and the
distribution of the Excess Aggregate Contributions by the Plan is determined by multiplying the total investment income or loss
allocated to the Participant's Participating Employer Contributions and amounts treated as Participating Employer Contributions
under paragraph 11 of this Appendix for such period by a fraction determined under the method described in (i) above. In
the alternative, the income or loss allocable to the period between the end of the Plan Year of the Excess Aggregate Contributions
and the distribution of the Excess Aggregate Contributions equals 10% of the income or loss allocable to the Participant's Excess
Aggregate Contributions for the Plan Year (as determined under (i) above multiplied by the number of calendar months that
elapse between the end of the Plan Year and the date of distribution. For these purposes, a distribution occurring on or before
the fifteenth day of a calendar month is treated as having been made on the last day of the preceding calendar month, and a distribution
occurring after the fifteenth date of a calendar month is treated as having been made on the first day of the following calendar
month.

 

The income or loss
will include only the income or loss allocable for the Plan Year of the Excess Aggregate Contributions, and not the income or loss
for the period between the end of the Plan Year and the distribution of Excess Aggregate Contributions.

 

    	Arconic Corp. Hourly 401(k) Plan
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(e)            Coordination
with Excess Contributions. The determination of the amount of Excess Aggregate Contributions for a Plan Year is made after the
determination of the amount of any Excess Contributions for the Plan Year.

 

(f)            Accounting
for Excess Aggregate Contributions. The amount of Excess Aggregate Contributions allocated to a Highly Compensated Employee for
a Plan Year is attributed to Participating Employer Contributions and any amounts treated as Participating Employer Contributions
in proportion to the amounts of such contributions on behalf of the Participant for the Plan Year.

 

13.          Recordkeeping
Requirements.

 

(a)            Average
Actual Deferral Percentage Tests. The Employer maintains records sufficient to demonstrate satisfaction of the Average Actual Deferral
Percentage tests of paragraph 5 of this Appendix for each Plan Year, and the extent to which any Qualified Matching Contributions
are treated as Pre-Tax Savings under paragraph 7 of this Appendix for purposes of such tests. The determination of Eligible Employees'
Actual Deferral Percentages, and the disposition of all Pre-Tax Savings (and any Qualified Matching Contributions treated as Pre-Tax
Savings under paragraph 7 of this Appendix) on behalf of Participants, must satisfy such other requirements as may be prescribed
by the Secretary of Treasury.

 

(b)            Average
Contribution Percentage Tests. The Employer maintains records sufficient to demonstrate satisfaction of the Average Contribution
Percentage tests of paragraph 9 of this Appendix for each Plan Year, and the extent to which any Pre-Tax Savings are treated as
Participating Employer Contributions under paragraph 11 of this Appendix for purposes of such tests. The determination of Eligible
Employees' Average Contribution Percentages, and the disposition of all Participating Employer Contributions (and any Pre-Tax Savings)
on behalf of Participants, must satisfy such other requirements as may be prescribed by the Secretary of Treasury.

 

14.          Distribution
of Excess Elective Deferrals. Excess Elective Deferrals means Pre-Tax Savings that is includible in a Participant's gross income
under Section 402(g) of the Code to the extent it exceeds the dollar limitation. Excess Elective Deferrals are treated
as annual additions under the Plan unless such amounts are distributed no later than the first April 15th following the close
of the Participant's taxable year. Excess Elective Deferrals are adjusted for any income or loss up to the date of distribution
as calculated under paragraph 8(e) and 12(d) of this Appendix. A Participant is deemed to notify the Plan Administrator
of Excess Elective Deferrals that arise by taking into account only those Elective Deferrals made to this Plan and any other plans
of the Employer. A Participant may assign any Excess Elective Deferrals made by the Participant to any other plans other than
those of the Employer by notifying the Plan Administrator on or before January 15th of the following year.

  

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APPENDIX
B

 

CODE
SECTION 415 LIMITATIONS

 

The limitations imposed by Section 415
of the Code are hereby incorporated by reference. If there is any discrepancy between the provisions of this Plan and the provisions
of Code Section 415 and the regulations thereunder, the discrepancy will be resolved in such a way to give full effect to
the provisions of Code Section 415.

 

The
maximum annual additions provided by the Plan will be exactly equal to the maximum amounts permitted under Code Section 415
and the regulations thereunder. In the event a Participant’s annual additions for any Plan Year would exceed the maximum
amount of annual additions permitted under Code Section 415, such Participant’s Savings are automatically reduced, in
whole or in part, by the amount required to eliminate such excess.

 

For purposes of applying the limitations
described in this Appendix B, compensation will include any differential pay received by a Participant absent for military leave
and any payment earned prior to a Participant’s separation from employment that is paid within a period ending on the later
of i) two and one-half months following the date the Participant separated from employment, or ii) the end of the Plan Year in
which the date the Participant separated from employment (“Post-Separation Compensation”). Post-Separation Compensation
will include any payments for vacation, sickness, or leave of absence that otherwise would have been included as compensation had
the Participant remained employed.

 

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APPENDIX
C

 

TOP
HEAVY RULES

 

(a)          This
Plan constitutes a "Top Heavy Plan" for a Plan Year if as of the last day of the preceding Plan Year the present value
of the cumulative account balances under the Plan for Participants who are Key Employees exceed 60 percent of the present value
of the aggregate of all account balances for all Participants in the Plan. A non-Key Employee means any Participant or former
Participant who is not a Key Employee.

 

(b)          This
Plan constitutes a Top Heavy Plan for a Plan Year if the employee benefit plans which make up the group of plans of which this
Plan is considered a part are such that, when aggregated, the sum of (1) the present value of the account balances of Key
Employees under all defined contribution plans in the group, and (2) the present value of the cumulative accrued benefits
of Key Employees under all defined benefit plans in the group exceed 60 percent of the sum of such amounts for all employees who
participate in the plans in the said group.

 

(1)            The
group of plans in which this Plan is considered a part includes (A) all plans of Arconic, the Subsidiaries and Affiliates
which enable the particular plans in which a Key Employee participates to meet the qualification requirement of Section 401(a)(4) of
the Code or Section 410 of the Code; and, (B) all plans which Arconic, in its discretion, decides to include, provided
that the inclusion of such plan or plans would not prevent the group of plans from meeting the qualification requirements of Sections
401(a)(4) and 410 of the Code. The date upon which the account balances are valued for purposes of calculating the top heavy
ratio to determine whether or not the Plan is Top Heavy for a particular Plan Year is the determination date, which is the last
day of the preceding Plan Year, or in the case of the first plan year of any plan, the last day of such plan year.

 

(2)            The
amounts of account balances of an employee as of the determination date are increased by the distributions made with respect to
the employee under the plan and any plan aggregated with the plan under Section 416(g)(2) of the Code during the one-year
period ending on the determination date. The preceding sentence also applies to distributions under a terminated plan which, had
it not been terminated, would have been aggregated with the plan under Section 416(g)(2)(A)(i) of the Code. In the case
of a distribution made for a reason other than severance from employment, death, or disability, this provision is applied by substituting
 "five-year period" for "one-year period."

 

(3)            The
accounts of any individual who has not performed services for the employer during the one-year period ending on the determination
date are not taken into account.

 

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(c)          The
following provisions are applicable to Participants for any Plan Year with respect to which the Plan is Top Heavy:

 

(1)            The
minimum Participating Employer Contribution for a Participant who is a non-Key Employee and has not separated from service at the
end of the Plan Year must not be less than three percent of his or her Eligible Compensation for the Top Heavy Plan Year. If said
allocation is less than three percent of his or her Eligible Compensation, then said allocation is the largest percentage allocated
to a Key Employee for the Top Heavy Plan Year. In the event the highest rate allocated to a Key Employee for the Top Heavy Plan
Year is less than three percent, Pre-Tax amounts contributed to the Plan are included in determining contributions made on behalf
of Key Employees. Compensation for determining a minimum benefit, a minimum contribution and for all other Top Heavy purposes is
the Participant's W-2 earnings for the calendar year that ends with the Plan Year.

 

Participating Employer
Contributions used to satisfy the minimum contribution requirements are treated as Participating Employer Contributions for purposes
of the actual contribution percentage test and other requirements of Section 401(m) of the Code.

 

(2)            With
respect to benefits accruing during any Plan Year in which the Plan is Top Heavy, average compensation is limited to amounts not
in excess of the amount permitted under Section 401(a)(17) of the Code. If the accrued benefit as of the end of the last Plan
Year before the Plan became Top Heavy is greater than the accrued benefit determined by limiting compensation, that higher accrued
benefit cannot be reduced.

 

(3)            In
the event the Plan is Top Heavy with respect to a Plan Year and ceases to be Top Heavy for a subsequent Plan Year the Participant's
account balance in any such subsequent Plan Year is not less than the Participant's Pre-Tax Savings (subject to adjustment for
earnings) computed as of the end of the most recent Plan Year for which the Plan was Top Heavy.

 

(d)          Notwithstanding
any of the above, if a non-Key Employee participates in this Plan and a defined benefit pension plan included in a required aggregation
group which is top heavy, a minimum allocation of five percent of Section 415 compensation is provided under this Plan. The
Plan will not be deemed Top Heavy if ninety percent is substituted for sixty percent in (b)(1) of this Appendix and Participating
Employer provides additional contributions to the Plan on behalf of non-Key Employees who participate in both defined benefit
and defined contribution plans maintained by a Participating Employer, in amounts at least equal to the amount set forth in Paragraph
(c)(1) of this Appendix as modified by substituting "seven and one-half percent" for "three percent."
If the non-Key Employee does not participate in a defined benefit plan maintained by Arconic, a Subsidiary or Affiliate, such
employee will receive an additional contribution of four percent.

 

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APPENDIX
D

 

MINIMUM
DISTRIBUTION REQUIREMENTS.

 

Section 1.     General
Rules

 

1.1.            Effective
Date. The provisions of this Appendix D will apply for purposes of determining required minimum distributions.

 

1.2.            Precedence.
The requirements of this Appendix D will take precedence over any inconsistent provisions of the Plan.

 

1.3.            Requirements
of Treasury Regulations Incorporated. All distributions required under this Appendix D will be determined and made in accordance
with Section 401(a)(9) of the Code and Treasury regulations §§1.401)(a)(9)-2 through -9, which will override
any inconsistent distribution provisions of the Plan. Distribution of any incidental death benefit requirements provided under
the Plan will be a distribution for purposes of this Appendix D.

 

1.4.            TEFRA
Section 242(b)(2) Elections. Notwithstanding the other provisions of this Appendix D, distributions may be made under
a designation made before January 1, 1984, in accordance with section 242(b)(2) of the Tax Equity and Fiscal Responsibility
Act (TEFRA) and the provisions of the Plan that relate to section 242(b)(2) of TEFRA.

 

Section 2.     Time
and Manner of Distribution.

 

2.1.            Required
Beginning Date. The Participant’s entire interest will be distributed, or begin to be distributed, to the Participant no
later than the Participant’s required beginning date.

 

2.2.            Death
of Participant Before Distributions Begin. If the Participant dies before distributions begin and there is a designated Beneficiary,
the Participant’s entire interest will be distributed to the designated Beneficiary by December 31 of the calendar year
containing the fifth anniversary of the Participant’s death. If the Participant’s surviving spouse is the Participant’s
sole designated beneficiary and the surviving spouse dies after the Participant but before distributions to either the Participant
or the surviving spouse begin, this election will apply as if the surviving spouse were the Participant. This election will apply
to all distributions.

 

If there is no designated
Beneficiary as of September 30 of the year following the year of the Participant’s death, the Participant’s entire
interest will be distributed by December 31 of the calendar year containing the fifth anniversary of the Participant’s
death.

 

2.3.            Forms
of Distribution. Unless the Participant’s interest is distributed in the form of an annuity purchased from an insurance company
or in a single sum on or before the required beginning date, as of the first distribution calendar year distributions will be made
in accordance with sections 3 and 4 of this Appendix D. If the Participant’s interest is distributed in the form of an annuity
purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of section 40l(a)(9) of
the Code and the Treasury regulations.

 

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Section 3.     Required
Minimum Distributions During Participant’s Lifetime.

 

3.1.         Amount
of Required Minimum Distribution For Each Distribution Calendar Year. During the Participant’s lifetime, the minimum amount
that will be distributed for each distribution calendar year is the lesser of:

 

(a)          the
quotient obtained by dividing the participant’s account balance by the distribution period in the Uniform Lifetime Table
set forth in section 1.401(a)(9)-9 of the Treasury regulations, using the participant’s age as of the Participant’s
birthday in the distribution calendar year; or

 

(b)          if
the Participant’s sole designated Beneficiary for the distribution calendar year is the Participant’s spouse, the quotient
obtained by dividing the Participant’s account balance by the number in the Joint and Last Survivor Table set forth in section
1.401(a)(9)-9 of the Treasury regulations, using the Participant’s and spouse’s attained ages as of the Participant’s
and spouse’s birthdays in the distribution calendar year.

 

3.2.         Lifetime
Required Minimum Distributions Continue Through Year of Participant’s Death. Required minimum distributions will be determined
under this section 3 beginning with the first distribution calendar year and up to and including the distribution calendar year
that includes the Participant’s date of death

 

Section 4.     Required
Minimum Distributions After Participant’s Death.

 

4.1.         Death
On or After Date Distributions Begin.

 

(a)           Participant
Survived by Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is a designated
Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the participant’s
death is the quotient obtained by dividing the Participant’s account balance by the longer of the remaining life expectancy
of the participant or the remaining life expectancy of the Participant’s designated beneficiary, determined as follows:

 

(1)            The
Participant’s remaining life expectancy is calculated using the age of the Participant in the year of death, reduced by one
for each subsequent year.

 

(2)            If
the Participant’s surviving spouse is the Participant’s sole designated Beneficiary, the remaining life expectancy
of the surviving spouse is calculated for each distribution calendar year after the year of the Participant’s death using
the surviving spouse’s age as of the spouse’s birthday in that year. For distribution calendar years after the year
of the surviving spouse’s death, the remaining life expectancy of the surviving spouse is calculated using the age of the
surviving spouse as of the spouse’s birthday in the calendar year of the spouse’s death, reduced by one for each subsequent
calendar year.

 

(3)            If
the Participant’s surviving spouse is not the Participant’s sole designated Beneficiary, the designated Beneficiary’s
remaining life expectancy is calculated using the age of the Beneficiary in the year following the year of the Participant’s
death, reduced by one for each subsequent year.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 52
	 

     

    

 

(b)            No
Designated Beneficiary. If the Participant dies on or after the date distributions begin and there is no designated Beneficiary
as of September 30 of the year after the year of the Participant’s death, the minimum amount that will be distributed
for each distribution calendar year after the year of the Participant’s death is the quotient obtained by dividing the Participant’s
account balance by the Participant’s remaining life expectancy calculated using the age of the Participant in the year of
death, reduced by one for each subsequent year.

 

4.2.         Death
Before Date Distributions Begin.

 

(a)            Participant
Survived by Designated Beneficiary. If the Participant dies before the date distributions begin and there is a designated Beneficiary,
the minimum amount that will be distributed for each distribution calendar year after the year of the Participant’s death
is the quotient obtained by dividing the Participant’s account balance by the remaining life expectancy of the Participant’s
designated Beneficiary, determined as provided in section 4.1.

 

(b)            No
Designated Beneficiary. If the Participant dies before the date distributions begin and there is no designated Beneficiary as of
September 30 of the year following the year of the Participant’s death, distribution of the Participant’s entire
interest will be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s
death.

 

(c)            Death
of Surviving Spouse Before Distributions to Surviving Spouse Are Required to Begin. If the Participant dies before the date distributions
begin, the Participant’s surviving spouse is the Participant’s sole designated Beneficiary, and the surviving spouse
dies before distributions are required to begin to the surviving spouse under section 2.2, this section 4.2 will apply as if the
surviving spouse were the Participant.

 

Section 5.     Definitions.

 

5.1.         Designated
Beneficiary. The individual who is designated as the Beneficiary under Section 22 of the Plan and is the designated beneficiary
under section 40l(a)(9) of the Internal Revenue Code and section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

 

5.2.         Distribution
calendar year. A calendar year for which a minimum distribution is required. For distributions beginning before the Participant’s
death, the first distribution calendar year is the calendar year immediately preceding the calendar year which contains the Participant’s
required beginning date. For distributions beginning after the Participant’s death, the first distribution calendar year
is the calendar year in which distributions are required to begin under section 2.2. The required minimum distribution for the
Participant’s first distribution calendar year will be made on or before the Participant’s required beginning date.
The required minimum distribution for other distribution calendar years, including the required minimum distribution for the distribution
calendar year in which the Participant’s required beginning date occurs, will be made on or before December 31 of that
distribution calendar year.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 53
	 

     

    

 

5.3.          Life
expectancy. Life expectancy as computed by use of the Single Life Table in section 1.401(a)(9)-9 of the Treasury regulations.

 

5.4.          Participant’s
account balance. The account balance as of the last valuation date in the calendar year immediately preceding the distribution
calendar year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated
to the account balance as of dates in the valuation calendar year after the valuation date and decreased by distributions made
in the valuation calendar year after the valuation date. The account balance for the valuation calendar year includes any amounts
rolled over or transferred to the plan either in the valuation calendar year or in the distribution calendar year if distributed
or transferred in the valuation calendar year.

 

5.5.          Required
beginning date. The date specified in Section 13(b) of the Plan.

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 54
	 

     

    

 

SCHEDULE
A

 

MERGERS,
TRANSFERS, AND RESTATEMENTS

 

NONE

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 55
	 

     

    

 

 

 

	
        SCHEDULE
        B-1

         

        ARCONIC
        CORP. HOURLY 401(K) PLAN

        PARTICIPATING EMPLOYERS, PARTICIPATING EMPLOYER CONTRIBUTIONS (MATCH) AND

EMPLOYER RETIREMENT INCOME CONTRIBUTIONS (ERIC)

         

	
        Company

        Code
	Company Description	LOC	Location Description	
        Union

        Code
	Union Description	Match	
        ERIC

        

	985	Arconic Lancaster Corp.	LNX	Lancaster, Pennsylvania (Alumax)	N/A	N/A	1.00	Y
	985	Arconic Lancaster Corp.	TXX	Texarkana, Texas (Alumax)	15X	USW 9448 - SteelWorkers	0.75	N/A
	R02	Arconic Architectural Products LLC	EGY	Eastman, Georgia (RMC)	N/A	N/A	1.00	Y
	N04	Arconic Davenport LLC	DAN	Danville, Illinois

Hires on/before February 28, 2018	190	USW 201B-1 - SteelWorkers (DAN)	0.80	N/A
	N04	Arconic Davenport LLC	DAN	
        Danville, Illinois

        Hires on / after March 1, 2018
	190	USW 201B-1 - SteelWorkers (DAN)	1.00	Y
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	293	USW 105 - SteelWorkers	0.75	Y#
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	413	IBEW1379 - Electricians (DAV)	0.75	N/A
	N04	Arconic Davenport LLC	HUT	Hutchinson, Kansas

Hires on/before February 28, 2006	290	USW HUT-Steelworkers	1.00	N
	N04	Arconic Davenport LLC	HUT	Hutchinson, Kansas

Hires on / after March 1, 2006	290	USW HUT-Steelworkers	1.00	Y
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	N/A	N/A	1.00	N
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	294	USW 115 - SteelWorkers	0.75	Y#
	N06	Arconic Massena LLC	MAS	Massena, New York	295	USW 420 - SteelWorkers	0.75	Y#
	N03	Arconic Technologies LLC	STS	San Antonio, Texas	N/A	N/A 	1.00	Y
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	193	USW 309 - SteelWorkers	0.50	Y#
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	401	BRKM8 - BrickMasons (ALC)	1.00	Y#

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 56
	 

     

    

 

	
        SCHEDULE
        B-1

         

        ARCONIC
        CORP. HOURLY 401(K) PLAN

        PARTICIPATING EMPLOYERS, PARTICIPATING EMPLOYER CONTRIBUTIONS (MATCH) AND

EMPLOYER RETIREMENT INCOME CONTRIBUTIONS (ERIC)

         

	
        Company

Code
	Company Description	LOC	Location Description	
        Union

        Code
	Union Description	Match	
        ERIC

        

	721	Halethorpe Extrusions, Inc.	BAL	Baltimore, Maryland	N/A	N/A	1.00	Y
	828	Kawneer Commercial Windows LLC	TRA	Traco, Kawneer Commercial Windows LLC	N/A	N/A	0.50	Y
	988	Kawneer Company, Inc.	AUX	Atlanta Service Center (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	BPX	Bloomsburg, PA (Kawneer)	60X	USW 10-0615 Paperworkers (BPX)	0.60	N/A
	988	Kawneer Company, Inc.	BTX	Jessup, Maryland (BTX)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	CHX	Chicago, Illinois (Alumax-FIX)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	CHX	Chicago, Illinois (Alumax-FIX)	46X	IAM District 8, Lodge 48 	0.50	Y
	988	Kawneer Company, Inc.	CLX	Cleveland, Ohio (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	CSX	Southern California Service Center	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	HUX	Houston, Texas (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	IVX	Irving (Dallas), Texas (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	KAX	Kansas City, Missouri (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	ORX	Orlando, Florida (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	SAX	Springdale, Arkansas (Kawneer)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	SKX	Salt Lake, Utah (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	SSX	Seattle, Washington (Alumax)	N/A	N/A	1.00	Y
	988	Kawneer Company, Inc.	VGX	Visalia, California (Kawneer)	N/A	N/A	1.00	Y
	655	Pimalco, Inc.	CDL	
         Chandler, Arizona
	
        

        137
	USW 3937-9 - SteelWorkers(PIM)	0.50	N/A

 

# Applicable only to Frozen Participants or to those hired or
rehired on or after January 1, 2020

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 57
	 

     

    

 

 

	SCHEDULE B-2

                                                                                 
 NEGOTIATED DEFERRAL CONTRIBUTIONS

                                                                                 

	Company

                                         Code
	Company
    Description	 

        Work
        Location
	Location
    Code	Union

    Code	Amount
    Per Hour Worked
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	293	0.536
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	413	0.536
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	294	0.536
	N06	Arconic Massena LLC	MAS	Massena, New York	295	0.536

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 58
	 

     

    

 

SCHEDULE
B-3

 

RESTRICTED
DISCRETIONARY CONTRIBUTIONS

 

NONE

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 59
	 

     

    

 

SCHEDULE
B-4

 

RETIREE
MEDICAL SAVINGS CONTRIBUTIONS

 

Pursuant to the Master Agreement
and other Bargaining Agreements that so provide, Participants in the bargaining units below whom on or after the date indicated
are hired or rehired, and who are not eligible for retiree medical coverage under a health and welfare plan of Alcoa, a Subsidiary
or Affiliate with respect to their prior employment, will be eligible for Retiree Medical Savings Contributions described in Section 4(c):

 

	Company
    Code	Company
    Description	Location
    (Loc)	Location
    Description	Union
    Code	Amount
    Per Hour Worked
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	193	0.40
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	401	0.40
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	293	0.40
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	413	0.40
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	294	0.40
	N06	Arconic Massena LLC	MAS	Massena, New York	295 	0.40

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 60
	 

     

    

 

	SCHEDULE C-1

                                                                                 
 ACTIVE EMPLOYERS AND LOCATIONS TRANSFERRED FROM THE HOWMET AEROSPACE
 HOURLY RETIREMENT SAVINGS PLAN, EFFECTIVE FEBRUARY 1, 2020

                                                                                 

	Company

                                         Code
	Company
    Description	LOC	Location
    Description	Union

        Code
	Union
    Description
	985	Arconic Lancaster Corp..	LNX	Lancaster, Pennsylvania (Alumax)	N/A	N/A
	985	Arconic Lancaster Corp.	TXX	Texarkana, Texas (Alumax)	15X	USW 9448 - SteelWorkers
	R02	Arconic Architectural Products LLC	EGY	Eastman, Georgia (RMC)	N/A	N/A
	N04	Arconic Davenport LLC	DAN	Danville, Illinois

Hires on/before February 28, 2018	190	USW 201B-1 - SteelWorkers (DAN)
	N04	Arconic Davenport LLC	DAN	
        Danville, Illinois

        Hires on / after March 1, 2018
	190	USW 201B-1 - SteelWorkers (DAN)
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	293	USW 105 - SteelWorkers
	N04	Arconic Davenport LLC	DAV	Davenport, Iowa	413	IBEW1379 - Electricians (DAV)
	N04	Arconic Davenport LLC	HUT	Hutchinson, Kansas

Hires on/before February 28, 2006	290	USW HUT-Steelworkers
	N04	Arconic Davenport LLC	HUT	Hutchinson, Kansas

Hires on / after March 1, 2006	290	USW HUT-Steelworkers
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	N/A	N/A
	N05	Arconic Lafayette LLC	LAF	Lafayette, Indiana	294	USW 115 - SteelWorkers
	N06	Arconic Massena LLC	MAS	Massena, New York	295	USW 420 - SteelWorkers
	N03	Arconic Technologies LLC	STS	San Antonio, Texas	N/A	N/A
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	193	USW 309 - SteelWorkers
	N02	Arconic Tennessee LLC	ALC	Alcoa, Tennessee	401	BRKM8 - BrickMasons (ALC)

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 61
	 

     

    

 

	SCHEDULE C-1

                                                                                 
 ACTIVE EMPLOYERS AND LOCATIONS TRANSFERRED FROM THE HOWMET AEROSPACE
 HOURLY RETIREMENT SAVINGS PLAN, EFFECTIVE FEBRUARY 1, 2020

                                                                                 

	Company

                                         Code
	Company
    Description	LOC	Location
    Description	Union

                                         Code
	Union
    Description
	721	Halethorpe Extrusions, Inc.	BAL	Baltimore, Maryland	N/A	N/A
	828	Kawneer Commercial Windows LLC	TRA	Traco, Kawneer Commercial Windows LLC	N/A	N/A
	988	Kawneer Company, Inc.	AUX	Atlanta Service Center (Alumax)	N/A	N/A
	988	Kawneer Company, Inc.	BPX	Bloomsburg, PA (Kawneer)	60X	USW 10-0615 Paperworkers (BPX)
	988	Kawneer Company, Inc.	BTX	Jessup, Maryland (BTX)	N/A	N/A
	988	Kawneer Company, Inc.	CHX	Chicago, Illinois (Alumax-FIX)	N/A	N/A
	988	Kawneer Company, Inc.	CHX	Chicago, Illinois (Alumax-FIX)	46X	IAM District 8, Lodge 48 
	988	Kawneer Company, Inc.	CLX	Cleveland, Ohio (Alumax)	N/A	N/A
	988	Kawneer Company, Inc.	CSX	Southern California Service Center	N/A	N/A
	988	Kawneer Company, Inc.	HUX	Houston, Texas (Alumax)	N/A	N/A
	988	Kawneer Company, Inc.	IVX	Irving (Dallas), Texas (Alumax)	N/A	N/A
	988	Kawneer Company, Inc.	KAX	Kansas City, Missouri (Alumax)	N/A	N/A
	988	Kawneer Company, Inc.	ORX	Orlando, Florida (Alumax)	N/A	N/A
	988	Kawneer Company, Inc.	SAX	Springdale, Arkansas (Kawneer)	N/A	N/A
	988	Kawneer Company, Inc.	SKX	Salt Lake, Utah (Alumax)	N/A	N/A

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 62
	 

     

    

 

	SCHEDULE C-1

                                                                                 
 ACTIVE EMPLOYERS AND LOCATIONS TRANSFERRED FROM THE HOWMET AEROSPACE
 HOURLY RETIREMENT SAVINGS PLAN, EFFECTIVE FEBRUARY 1, 2020

                                                                                 

	Company

                                         Code
	Company
    Description	LOC	Location
    Description	Union

                                         Code
	Union
    Description
	988	Kawneer Company, Inc.	SSX	Seattle, Washington (Alumax)	N/A	N/A
	988	Kawneer Company, Inc.	VGX	Visalia, California (Kawneer)	N/A	N/A
	655	Pimalco, Inc.	CDL	
        

        Chandler, Arizona
	
        

        137
	USW 3937-9 - SteelWorkers(PIM)

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 63
	 

     

    

 

	SCHEDULE C-2  

                                                                                 
 ARCONIC CORP.  HOURLY 401(K) PLAN
 LEGACY EMPLOYERS AND LOCATIONS TRANSFERRED FROM THE HOWMET AEROSPACE
 HOURLY RETIREMENT SAVINGS PLAN, EFFECTIVE FEBRUARY 1, 2020

                                                                                 

	Company

    Code	Company
    Description	LOC	Location
    Description
	DVB	Alcoa Extrusions (to Sapa Extrusions)	All	All Locations
	982	Alumax Extrusions Inc PA  	All	All Locations  
	986	Alumax Foils, Inc.  	All	All Locations  
	985	Alumax Mill Products Inc.	All	All Locations  
	R02	Arconic Architectural Products LLC	All	All Locations  
	010	Arconic Inc.	ALC	Alcoa, Tennessee  
	010	Arconic Inc.	DAN	Danville, Illinois  
	010	Arconic Inc.	DAV	Davenport, Iowa  
	010	Arconic Inc.	HKY 	Hawesville, Kentucky (ACMI)  
	010	Arconic Inc.	HUT 	Hutchinson, Kansas  
	010	Arconic Inc.	LAF 	Lafayette, Indiana  
	010	Arconic Inc.	LEB 	Lebanon, Pennsylvania  
	010	Arconic Inc.	MAS 	Massena, New York  
	010	Arconic Inc.	STS 	San Antonio, Texas(STS)  

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 64
	 

     

    

 

	SCHEDULE C-2  

                                                                                 
 ARCONIC CORP.  HOURLY 401(K) PLAN
 LEGACY EMPLOYERS AND LOCATIONS TRANSFERRED FROM THE HOWMET AEROSPACE
 HOURLY RETIREMENT SAVINGS PLAN, EFFECTIVE FEBRUARY 1, 2020

                                                                                 

	Company

Code	Company Description	LOC	Location Description
	721	Halethorpe Extrusions, Inc.  	All  	All Locations  
	828	Kawneer Commercial Windows LLC  	All  	All Locations  
	988	Kawneer Company, Inc.  	All  	All Locations  
	655	Pimalco, Inc.  	All  	All Locations  
	727	Plant City Extrusions LLC  	All  	All Locations  
	R01	Reynolds Metals Company  	EGY  	Eastman, Georgia (RMC)  
	R01	Reynolds Metals Company  	LYY  	Louisville, Kentucky (PLT #15)  
	R01	Reynolds Metals Company  	M4Y  	Muscle Shoals Alabama (ALLOYS)  
	DVD	Reynolds Metals Company (to Sapa H E Tubing)  	All  	All Locations  
	672	Tifton Aluminum Company, Inc.  	All  	All Locations  

 

    	Arconic Corp. Hourly 401(k) Plan
Effective as of February 1, 2020
	
 
 65

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