Document:

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                                                                    Exhibit 10.2

             EXECUTIVE OFFICER (OTHER THAN CEO) SEVERANCE AGREEMENT

                                                     [DATE]

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Dear __________:

Reference is made to the agreement between us, dated ___________, 20__, ("Prior
Agreement"), setting forth the benefits to be provided to you in the event of
the termination of your employment upon the circumstances therein specified.
Upon your execution of a counterpart of this letter, the Prior Agreement shall
be deemed amended and, as so amended, is restated in its entirety to read as
hereinafter set forth.

AK Steel Corporation ("AKS" of "Company"), since its formation, has established
itself as a strong competitor in the steel industry. Continuity of the
management of AKS is a critical factor to the continued growth and success of
AKS. As an executive officer of AKS, you will have the opportunity as outlined
in Section A ("Severance Section") of this Executive Officer Severance Agreement
("Agreement") to receive severance benefits if your employment with the Company
ends under certain circumstances. AKS provides this severance benefits
opportunity because the Board of Directors ("Board") of AK Steel Holding
Corporation ("Holding"), of which AKS is a wholly-owned subsidiary, believes it
is in the best interest of Holding and AKS to reinforce and encourage the
continued attention and dedication of executive officers to their assigned
duties.

As an executive officer of AKS, you will be involved in decision-making
processes in your area of responsibility which involve AKS's proprietary and
confidential information. You will also have access and exposure to other
confidential competitive AKS information. Therefore, because of your involvement
with and access to proprietary and confidential information and in exchange for
AKS's agreement to provide you with the severance benefits opportunities set out
in this Agreement, you agree to be bound by the executive responsibilities set
forth in Section B of this Agreement ("Executive Responsibilities Section").

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This Agreement establishes time limits for bringing claims for severance
benefits under this Agreement ("Severance Claims") and any claims or
controversies arising out or relating to your employment relationship with AKS
or the termination of that relationship ("Employment Claims"), excluding claims
for workers' compensation and unemployment compensation benefits and excluding
the Company's right to seek injunctive or other equitable relief to enforce the
terms of the Executive Responsibilities Section. The Agreement also provides
that Severance Claims and Employment Claims must be resolved through the
arbitration process set forth in this Agreement.

A.   Severance

     1.   Providing of Severance Benefits

          Holding shall cause AKS to provide and AKS shall provide to you the
          benefits set forth in the Severance Section if your employment with
          AKS (including for the purposes hereof, its subsidiaries and
          Affiliates, as hereinafter defined) is terminated during the term of
          the Severance Section as provided herein.

     2.   Purpose

          The Severance Section establishes severance benefits opportunities
          relating to the termination of your employment with AKS for reasons
          other than: (i) your voluntary retirement; (ii) your becoming totally
          and permanently disabled under the AKS long-term disability plan or
          policy; or (iii) your death. The Severance Section supersedes any and
          all prior severance agreements or severance provisions within
          agreements with AKS or any predecessor business, as well as all other
          AKS severance plans, policies and practices, except to the extent
          incorporated or restated herein. Subject to the foregoing, neither the
          termination of your employment nor anything contained in the Severance
          Section shall have any affect upon your rights under (i) any
          tax-qualified "pension benefit plan", as such term is defined in the
          Employee Retirement Income Security Act of 1974, as amended ("ERISA");
          (ii) any "welfare benefit plan" as defined in ERISA, including by way
          of illustration and not limitation, any medical, surgical or
          hospitalization benefit coverage or long-term disability benefit
          coverage; or (iii) any non-qualified deferred compensation
          arrangement, including by way of illustration and not limitation, any
          non-qualified pension plan or deferred compensation plan.

     3.   Termination of Employment

          The date upon which the termination of your employment becomes
          effective

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               is hereinafter referred to as the "Date of Termination." The
               period between the date of notice of termination and the Date of
               Termination is referred to as the "Notice Period." AKS may
               relieve you of your employment duties upon the giving of any
               notice of termination or at any time during any Notice Period;
               provided, however, during such Notice Period or the balance
               thereof, you shall continue to receive your full salary and
               Employment Benefits (as defined in Section A(6)(b) below). This
               Severance Section provides you with benefits in the event of the
               termination of your employment during the term of the Severance
               Section in accordance with the following paragraphs.

          (a)  Involuntary Termination Without Cause

               AKS may terminate your employment without Cause (as defined in
               Section A(3)(b) below), but only upon written notice given to you
               by AKS not less than thirty (30) days prior to the Date of
               Termination. From and after the Date of Termination, pursuant to
               this Section A(3)(a), you shall be entitled to those benefits
               provided under Sections A(4) and A(8) as applicable.

          (b)  Involuntary Termination For Cause

               AKS may terminate your employment for Cause, but only upon
               written notice, specifying the facts or circumstances
               constituting such Cause, which notice may be given on or at any
               time prior to the Date of Termination. For the purposes of this
               Section A(3)(b), "Cause" means a willful engaging in gross
               misconduct materially and demonstrably injurious to AKS.
               "Willful" means an act or omission in bad faith and without
               reasonable belief that such act or omission was in or not opposed
               to the best interests of AKS. From and after your Date of
               Termination, pursuant to this Section A(3)(b), you shall be
               entitled to those benefits provided under Section A(7).

          (c)  Voluntary Termination Without Good Reason

               You may voluntarily terminate your employment without Good Reason
               (as defined in Section A(3)(d) below), but only upon written
               notice given to AKS by you not less than thirty (30) days prior
               to the Date of Termination. From and after the Date of
               Termination, pursuant to this Section A(3)(c), you shall be
               entitled to those benefits provided under Sections A(7) and A(8)
               as applicable.

          (d)  Voluntary Termination For Good Reason

               You may voluntarily terminate your employment for Good Reason (as
               herein defined), but only upon written notice, specifying the
               facts or circumstances

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               constituting such Good Reason, given to AKS by you at least
               thirty (30) days prior to the Date of Termination and not more
               than sixty (60) days following the occurrence of the
               circumstances constituting such Good Reason. For the purposes of
               this Section A(4)(d), "Good Reason" shall mean the occurrence,
               without your express written consent, of any of the following
               circumstances (unless, in the case of clauses (i), (v), (vi),
               (vii) or (viii) below, such circumstances are fully corrected
               prior to the Date of Termination specified in the notice of
               termination):

               (i)  the assignment to you of any duties inconsistent with your
                    position within AKS or a significant adverse alteration in
                    the nature or status of the responsibilities of your
                    employment;

               (ii) a reduction by AKS in your annual base salary, but no such
                    reduction shall be effective with respect to your benefits
                    under Section A(4) if you have given timely notice pursuant
                    to this Section A(3)(d);

              (iii) a requirement by AKS that you be based anywhere other than
                    the principal executive offices of AKS except for required
                    travel on AKS business to an extent substantially consistent
                    with customary business travel obligations;

               (iv) the failure of AKS to pay to you any portion of your
                    compensation within seven (7) days of the date such
                    compensation is due;

               (v)  the failure of AKS, at any time within 24 months following
                    the occurrence of a Change In Control (as defined in Section
                    A(6)(c) hereof), to continue in effect any compensation plan
                    in which you participated immediately prior to such Change
                    In Control, which plan is material to your total
                    compensation, unless an equitable arrangement (embodied in
                    an ongoing substitute or alternative plan) has been made
                    with respect to such plan, or the failure of AKS to continue
                    your participation in such compensation plan (or in such
                    substitute or alternative plan) on a basis not materially
                    less favorable to you, both in terms of the amount of
                    benefits provided and the level of your participation
                    relative to other participants, than that existing
                    immediately prior to such Change In Control;

               (vi) any material reduction, except to the extent permitted by
                    Section A(6)(b) hereof, in your Employment Benefits;

              (vii) the failure of AKS to obtain a satisfactory agreement from
                    any successor corporation to assume and agree to perform
                    this

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                    Agreement, as contemplated in Section D(5) hereof; or

             (viii) any purported termination of your employment by AKS that
                    is not effective in compliance with the provisions of
                    Sections A(3)(a) or A(3)(b) hereof, as the case may be.

               If you give notice of termination for Good Reason, then, during
          the Notice Period (which shall not exceed 60 days), your full base
          salary and Employment Benefits shall be the same as in effect prior to
          the occurrence of the circumstances constituting such Good Reason,
          subject to the right of AKS to make changes to your Employment
          Benefits to the extent permitted by Section A(6)(b). From and after
          the Date of Termination, pursuant to this Section A(3)(d), you shall
          be entitled to those benefits provided under Sections A(4) and A(8) as
          applicable.

          (e)  Voluntary Termination After Change In Control

               You may voluntarily terminate your employment, with or FF without
               Good Reason, during the thirty (30)-day period immediately
               following the six (6)-month anniversary of a Change In Control,
               but only upon written notice given to AKS by you during such
               thirty (30)-day period specifying the Date of Termination which,
               unless otherwise agreed by you and AKS, shall not be less than
               thirty (30) days nor more than sixty (60) days following the end
               of such thirty (30)-day period. From and after the Date of
               Termination, pursuant to this Section A(3)(e), you shall be
               entitled to those benefits provided under Sections A(4) and A(8)
               as applicable.

4.   Special Severance Benefits

     (a)  If your employment with AKS is involuntarily terminated by AKS without
          Cause in accordance with Section A(3)(a), you voluntarily terminate
          your employment for Good Reason in accordance with Section A(3)(d), or
          you voluntarily terminate your employment after a Change In Control in
          accordance with Section A(3)(e), then the Company will pay you,
          regardless of whether or not you execute a release of claims,
          severance pay equal to your base salary, less applicable tax
          withholdings and deductions, for a period of six (6) months from your
          Date of Termination. The aggregate base salary payable in accordance
          with this Section A(4)(a) shall be paid to you in a single,
          undiscounted, lump sum payment within ten (10) days following the Date
          of Termination unless you have requested, in writing, at any time
          prior to your Date of Termination to receive such payments of your
          base salary in regular monthly payments.

     (b)  If your employment with AKS is involuntarily terminated by AKS without

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          Cause in accordance with Section A(3)(a), you voluntarily terminate
          your employment for Good Reason in accordance with Section A(3)(d), or
          you voluntarily terminate your employment after a Change In Control in
          accordance with Section A(3)(e), and you sign a release of all claims
          against Holding, AKS, and AKS's subsidiaries and Affiliates which is
          acceptable to AKS ("Release of Claims"), then you shall be entitled,
          in addition to those benefits provided for at Section A(4)(a), to the
          following benefits, less applicable tax withholdings and deductions:

          (i)  Severance pay equal to your base salary shall be paid for an
               additional period beyond the six (6) month period paid pursuant
               to Section A(4)(a) of (1) thirty (30) months, if the notice of
               your termination is given within 24 months after the occurrence
               of a Change In Control or (2) eighteen (18) months, if the notice
               of termination is given at any time other than within 24 months
               after the occurrence of a Change In Control (hereafter, the total
               thirty-six (36) month period or twenty-four (24) month period, as
               applicable, under Section A(4)(a) and A(4)(b)(i) will be referred
               to as "Severance Pay Period"). The aggregate thirty (30) months
               or eighteen (18) months of additional base salary payable in
               accordance with this Section A(4)(b)(i) shall be paid to you in a
               single, undiscounted, lump sum payment within ten (10) days
               following the effective date of the Release of Claims unless you
               have requested, in writing, at any time prior to the effective
               date of the Release of Claims to receive payments of your base
               salary in regular monthly payments.

          (ii) (1) Within ten (10) days following the effective date of the
               Release of Claims, you will receive a lump-sum payment equal in
               amount to the result obtained by application of the following
               formula: P = (x) times (y) times (z), where:

               P       =        the lump-sum payment;

               (x)     =        twelve times your monthly base salary;

               (y)     =        the fraction obtained by dividing your
                                annual incentive compensation
                                which was paid or is payable to you for the
                                immediately preceding calendar year by your
                                actual base salary for such year; and

               (z)     =        3.0 (if the notice of your termination is given
                                within 24 months after the occurrence of a

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                                Change In Control, or 2.0 (if the notice of your
                                termination is given at any time other than
                                within 24 months after the occurrence of a
                                Change in Control).

               (2)  Within ten (10) days following the later of the effective
                    date of the Release of Claims or the date that payment is
                    made to active employees of AKS, you shall receive a
                    pro-rata payment of the annual incentive payment you would
                    have received for the year in which your Date of Termination
                    occurs. Such payment shall be: (A) pro-rated based upon your
                    Date of Termination and (B) determined without giving effect
                    to any contrary provision of the applicable incentive plan,
                    and without giving effect to any reduction in such annual
                    incentive payment that could result from any amendment to or
                    termination of such annual incentive plan or a reduction in
                    your level of participation in connection with a Change In
                    Control. For purposes of this calculation, a termination for
                    Good Reason under Section A(3)(d) or after a Change In
                    Control under Section A(3)(e) shall not be considered a
                    voluntary termination under the annual incentive plan. If
                    the plan is amended or terminated subsequent to a Change In
                    Control such that a pro-rated payment cannot be calculated,
                    then you shall receive the maximum payment, at your level of
                    participation prior to the Change In Control, pro-rated
                    based upon your Date of Termination.

               (3)  Without giving effect to any contrary provision of the
                    applicable long-term incentive plan, you shall receive: (A)
                    payment for the prior year's performance under the plan at
                    the same time as all other participants receive such
                    payments, but no earlier than the effective date of the
                    Release of Claims, and (B) an additional amount equal to the
                    amount in (A) within sixty (60) days following the later of
                    the effective date of the Release of Claims or your Date of
                    Termination. If the amount in (A) has not yet been paid as
                    of the later of the effective date of the Release of Claims
                    or your Date of Termination, you shall receive an amount
                    equal to two times the amount in (A) at the next long-term
                    incentive payment date or within sixty (60) days of your
                    Date of Termination, whichever is earlier. For purposes of
                    this calculation, a termination for Good Reason under
                    Section A(3)(d) or after a Change In Control under Section
                    A(3)(e) shall not be considered a voluntary

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                    termination under the long-term incentive plan. Such payment
                    shall be determined without giving effect to any reduction
                    in such long-term incentive payment that could result from
                    any amendment to or termination of such plan or a reduction
                    in your level of participation in connection with a Change
                    In Control. If the plan is amended or terminated such that
                    no calculation of the payment in (A) above for the prior
                    year's performance can be made, then you shall receive twice
                    the maximum payment in cash, at your level of participation
                    prior to the Change In Control, in full payment of the
                    amounts in (A) and (B) above.

         (iii) Notwithstanding any provision to the contrary in the AK Steel
               Holding Corporation Stock Incentive Plan as amended or any other
               similar plan of AKS or Holding (each, a "Plan"), or under the
               terms of any grant, award agreement or form for exercising any
               right under the Plan, you shall have the right:

               (1)  to exercise any stock option awarded to you under the Plan
                    without regard to any waiting period required by the Plan or
                    award agreement (but subject to a minimum six month holding
                    period from the date of award and any restrictions imposed
                    by law) from the effective date of the Release of Claims
                    until the first to occur of the third anniversary of your
                    Date of Termination or the date the award expires by its
                    terms, and

               (2)  to the absolute ownership of any shares of stock granted to
                    you under the Plan, free of any restriction on your right to
                    transfer or otherwise dispose of the shares (but subject to
                    a minimum six month holding period from the date of grant
                    and any restrictions imposed by law), regardless of whether
                    entitlement to the shares is contingent or absolute by the
                    terms of the grant; and Holding and AKS shall take such
                    action as soon as practicable after the effective date of
                    the Release of Claims as is necessary or appropriate to
                    eliminate any restriction on your ownership of, or your
                    right to sell or assign, any such shares; or AKS shall pay
                    you, in exchange for such shares, no later than ten (10)
                    days after the effective date of the Release of Claims, an
                    amount in cash equal to the greatest aggregate market value
                    of the shares during the Notice Period.

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                    You agree, for a period of six (6) months after your
                    Termination Date, to continue to comply with all AKS and
                    Holding policies and directives related to trading in
                    Holding stock which were in effect prior to your notice of
                    termination. If your compliance with such policies and
                    directives precludes you from exercising any stock options
                    or selling any shares of stock described in paragraphs (1)
                    and (2) above for a period of more than sixty (60) days from
                    the first day of your Notice Period, then AKS will pay you
                    in cash the difference between the average share price
                    during the Notice Period and, if less, the actual share
                    price received by you at the time of sale provided you have
                    completed such sale within sixty (60) days from your first
                    opportunity to do so. The average sale price during the
                    Notice Period will be determined by averaging the highest
                    share price and the lowest share price during the Notice
                    Period. Any such differential payment will be paid to you
                    within thirty (30) days after you provide written notice to
                    AKS requesting such payment, but no earlier than the
                    effective date of the Release of Claims. Such notice is to
                    be directed to the attention of the Secretary of AKS and
                    contain the relevant stock transaction dates and actual
                    share price information.

               (iv) During the Severance Pay Period your Employment Benefits
                    shall be continued, subject to the right of AKS to make any
                    changes to your Employment Benefits permitted in accordance
                    with Section A(6)(b); provided, however, that you shall not:

                    (1)  accumulate vacation pay for periods after the Date of
                         Termination;

                    (2)  qualify during the Severance Pay Period for sickness
                         and accident, salary continuation, and long-term
                         disability plan benefits if you are not eligible for
                         these benefits on the Date of Termination;

                    (3)  be eligible to continue to make contributions to any
                         Internal Revenue Code ` 401(k) plan maintained by AKS
                         or qualify for a share of any employer contribution
                         made to any tax-qualified defined contribution plan; or

                    (4)  be eligible to accumulate service for pension plan
                         purposes; and

                    provided, further, that if, during the Severance Pay Period,
                    you are eligible to receive life insurance, medical,
                    hospital and other health

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                    insurance benefits ("Life and Health Insurance") either
                    based upon employment with another employer or based upon
                    benefits available to you as a retiree of another employer,
                    the obligations of AKS to continue to provide you with Life
                    and Health Insurance shall be limited solely to those
                    benefits necessary to assure that, together with the
                    corresponding benefits provided to you under any other
                    plans, you receive total benefits comparable to those to
                    which you were entitled at the Date of Termination. You must
                    report to the Vice President, Human Resources of AKS your
                    eligibility for another employer's active or retiree Life
                    and Health Insurance within ten (10) days after becoming
                    eligible.

               (v)  You shall qualify for full COBRA health benefit continuation
                    coverage upon the expiration of the Severance Pay Period.

               (vi) You shall be entitled, at no cost to you, to up to twelve
                    (12) months of full executive outplacement assistance with
                    an agency selected by AKS.

          (c)  You shall receive payment of your benefit under the AK Steel
               Corporation Executive Minimum and Supplemental Retirement Plan
               (the "SERP") in accordance with the provisions of the SERP.
               Notwithstanding the foregoing, if your employment with AKS is
               involuntarily terminated by AKS without Cause in accordance with
               Section A(3)(a), or if at any time after a Change In Control you
               voluntarily terminate your employment with AKS (or any Affiliate,
               any successor of AKS, or any entity which as a result of the
               completion of the transactions causing a Change In Control
               becomes affiliated with AKS) for Good Reason in accordance with
               Section A(3)(d), or after a Change In Control in accordance with
               Section A(03)(e), within ten (10) days following the later of the
               effective date of the Release of Claims or your Date of
               Termination you will receive, in addition to any benefits you may
               be entitled to under Sections A(4)(a) and A(4)(b) above, a lump
               sum payment in an amount equal to the benefit you would be
               entitled to under the SERP determined as if (i) your Vesting Date
               (as defined under the SERP) had occurred prior to the Date of
               Termination (if it has not already occurred as of the Date of
               Termination) and (ii) you had attained age 60 prior to the Date
               of Termination (if you have not already attained age 60 as of the
               Date of Termination). The amount of any such additional benefit
               shall be calculated as of the Date of Termination in accordance
               with the benefit formula under the SERP (as if you had attained
               age 60, or your actual age if greater), and the payment of such
               benefit shall be in lieu of any payment under the SERP.

          (d)  You shall not be required to mitigate the amount of any payment
               provided for

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               in this Section A(4) by seeking other employment or otherwise,
               nor shall the amount of any payment or benefits provided for in
               this Section A(4) be reduced by any compensation or benefits
               earned by you as the result of employment by another employer
               (except as expressly provided in Section A(4)(b)(iv) above) or by
               retirement benefits, or be offset against any amount claimed to
               be owed by you to AKS or any of its Affiliates or successors.

          (e)  For purposes of calculating any amount due under this Agreement,
               the effect of any deferral of income shall be disregarded and all
               sums due shall be calculated as if no such deferral had been
               made.

5.   Certain Tax Matters

          (a)  If any of the payments provided to you pursuant to Section A(4)
               hereof (the "Contract Payments") or any other portion of the
               Total Payments (as defined below) becomes subject at any time to
               the tax (the "Excise Tax") imposed by section 4999 of the
               Internal Revenue Code of 1986, as amended (the "Code"), AKS shall
               pay to you at the time specified in Section A(5)(b) below, an
               additional amount (the "Gross-Up Payment") such that the net
               amount retained by you, after deduction of the Excise Tax on any
               Contract Payments and/or other Total Payments, any federal and
               state and local income tax and Excise Tax upon the payment(s)
               provided for by this paragraph, and any interest, penalties or
               additions to tax payable by you with respect thereto, shall be
               equal to the present value of the Contract Payments and such
               other Total Payments. For purposes of determining whether any of
               the foregoing payments will be subject to the Excise Tax and the
               amount of such Excise Tax, (i) any other payments or benefits
               received or to be received by you in connection with a Change In
               Control or the termination of your employment (whether such
               payments are Contract Payments or are payable pursuant to the
               terms of any other plan, arrangement or agreement with AKS,
               Holding or any of their respective Affiliates or successors, any
               person whose actions result in a Change In Control or any
               corporation which, as a result of the completion of the
               transactions causing a Change In Control, will become affiliated
               with AKS or Holding within the meaning of section 1504 of the
               Code (such other payments, together with the Contract Payments,
               the "Total Payments")) shall be treated as "parachute payments"
               within the meaning of section 28OG(b)(2) of the Code, and all
               "excess parachute payments" within the meaning of section
               28OG(b)(1) shall be treated as subject to the Excise Tax, except
               to the extent that, in the opinion of tax counsel selected by
               AKS's independent auditors and acceptable to you ("Tax Counsel"),
               the Total Payments (in whole or in part) do not constitute
               parachute payments, or such excess parachute payments are
               otherwise not subject to the Excise Tax, (ii) the amount of the
               Total Payments that shall be treated as subject to the Excise

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               Tax shall be equal to the lesser of (1) the total amount of the
               Total Payments or (2) the amount of excess parachute payments
               within the meaning of sections 28OG(b)(1) (after applying clause
               (i) hereof), and (iii) the value of any noncash benefits or any
               deferred payment or benefit shall be determined by AKS'
               independent auditors in accordance with the principles of
               sections 28OG(d)(3) and (4) of the Code. For purposes of
               determining the amount of the Gross-Up Payment(s), you shall be
               deemed to pay federal income taxes at the highest marginal rate
               of federal income taxation applicable to individuals in the
               calendar year in which the Gross-Up Payment(s) is (are) to be
               made and state and local income taxes at the highest marginal
               rates of taxation applicable to individuals as are in effect in
               the state and locality of your residence in the calendar year in
               which the Gross-Up Payment(s) is (are) to be made, net of the
               maximum reduction in federal income taxes that could be obtained
               from deduction of such state and local taxes. In the event that
               the Excise Tax is subsequently determined to be less than the
               amount taken into account hereunder, you shall repay to AKS at
               the time that the amount of such reductionin Excise Tax is
               finally determined the portion of the Gross-Up Payment
               attributable to such reduction (plus the portion of the Gross-Up
               Payment attributable to the Excise Tax and federal and state and
               local income tax imposed on the Gross-Up Payment being repaid by
               you if such repayment results in a federal and state and local
               income tax deduction), plus interest on the amount of such
               repayment at the applicable federal rate (as defined in section
               1274(d) of the Code). In the event that the Excise Tax is
               determined to exceed the amount taken into account hereunder
               (including by reason of any payment the existence or amount of
               which cannot be determined at the time of the Gross-up Payment),
               AKS shall make an additional gross-up payment in respect of such
               excess (plus any interest payable with respect to such excess) at
               the time that the amount of such excess is finally determined.

          (b)  The Gross-up Payment(s) provided for in section A(5)(a) above
               shall be made within ten (10) days following the later of the
               effective date of the Release of Claims or the Date of
               Termination or, with respect to any portion of the Excise Tax not
               determined on or before the later of such dates to be due, upon
               the imposition of such portion of the Excise Tax; provided,
               however, that if the amounts of such payments cannot be finally
               determined on or before the later of such dates, AKS shall pay to
               you within ten (10) days of the later of such dates an estimate,
               as determined in good faith by AKS, of the minimum amount of such
               payments and shall pay the remainder of such payments (together
               with interest at the rate provided in section 1274(b)(2)(B) of
               the Code) as soon as the amount thereof can be determined but in
               no event later than the thirtieth day after the later of such
               dates. In the event that the amount of the estimated payments
               exceeds the amount subsequently finally determined to have been
               due, such excess shall constitute a loan by the

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               Corporation to you, payable on the tenth day after demand by the
               Corporation (together with interest at the rate provided in
               section 1274(b)(2)(B) of the Code).

          (c)  In the event of any change in, or further interpretation of,
               sections 28OG or 4999 of the Code and the regulations promulgated
               thereunder, you shall be entitled, by written notice to AKS, to
               request an opinion of Tax Counsel regarding the application of
               such change to any of the foregoing, and AKS shall use its best
               efforts to cause such opinion to be rendered as promptly as
               practicable. All fees and expenses of Tax Counsel incurred in
               connection with this Agreement shall be borne by AKS.

6.   Definitions

     For purposes of this Agreement the following terms shall have the following
     meanings:

     (a)  "Affiliate" of any specified person means (i) any other person which,
          directly or indirectly, is in control of, is controlled by or is under
          common control with such specified person or (ii) any other person who
          is a director or officer (1) of such specified person, (2) of any
          subsidiary of such specified person or (3) of any person described in
          clause (i) above. For purposes of this definition, control of a person
          means the power, direct or indirect, to direct or cause the direction
          of the management and policies of such person whether by contract or
          otherwise and the terms "controlling" and "controlled" have meanings
          correlative to the foregoing.

     (b)  "Employment Benefits" means the employee benefit plans, policies, and
          practices of AKS (excluding any severance policies and practices other
          than this Agreement) that generally apply to other salaried employees
          or managers in accordance with the terms thereof as they may be
          amended from time to time. Your Employment Benefits may be modified
          from time to time after the date hereof without violation of this
          Agreement if the changes apply generally to other members of
          management of AKS.

     (c)  "Change In Control" means the occurrence of any of the following
          events:

          (i)  any "Person" (as such term is used in Sections 13(d) and 14(d) of
               Securities Exchange Act of 1934, as amended (the "Exchange Act"),
               is or becomes the beneficial owner (as defined in Rules 13d-3 and
               13d-5 under the Exchange Act, except that a Person shall be
               deemed to have "beneficial ownership" of all shares that any such
               Person has the right to acquire, whether such right is
               exercisable immediately or only after the passage of time),
               directly or indirectly, of more than

                                       13

<PAGE>

               40% of the total voting power of the Voting Equity Interests of
               Holding; provided, however, that a Person shall not be deemed the
               "beneficial owner" of shares tendered pursuant to a tender or
               exchange offer made by that Person or any Affiliate of that
               Person until the tendered shares are accepted for purchase or
               exchange;

          (ii) during any period of two consecutive years, individuals who at
               the beginning of such period constituted the Board (together with
               any new directors whose election by such Board, or whose
               nomination for election by the shareholders of Holding, as the
               case may be, was approved by a vote of 66-2/3% of the directors
               then still in office who were either directors at the beginning
               of such period or whose election or nomination for election was
               previously so approved) cease for any reason to constitute a
               majority of the Board then in office; or

         (iii) Holding fails to own 100% of the outstanding stock of AKS;
               provided, however, that it shall not be deemed a Change in
               Control if Holding merges into AKS except that, in such case, AKS
               shall be substituted for Holding for purposes of this definition
               of "Change in Control" and this clause (iii) shall no longer be
               applicable.

     (c)  "Voting Equity Interests" of a corporation means all classes of stock
          then outstanding and normally entitled to vote in the election of
          directors or other governing body of such corporation.

7.   Benefits Upon Voluntary Termination or Termination for Cause

     Upon your Date of Termination for Cause in accordance with Section A(3)(b)
     or your Date of Termination without Good Reason in accordance with Section
     A(3)(c), you will not be entitled to benefits under Section A(4) of this
     Agreement, but you nevertheless shall be eligible for any benefits provided
     in accordance with the plans and practices of AKS which are applicable to
     employees generally.

8.   Benefits Based on Age and Service

     Notwithstanding any provision in this Agreement to the contrary, if your
     employment with AKS terminates for any reason under Section A(3) other than
     involuntary termination for Cause under Section A(3)(b); and if on your
     Date of Termination (i) you have attained at least age 50, (ii) you are a
     participant in the AK Steel Corporation Executive Minimum and Supplemental
     Retirement Plan ("SERP") and you are vested in your SERP benefit, (iii)the
     sum of your age and your years of service with AKS equals or exceeds 65,
     and (iv) you execute a Release of Claims (as defined in Section 4(b)); then
     the following provisions shall be applicable, effective

                                       14

<PAGE>

     as of the effective date of the Release of Claims:

     (a)  If you are not otherwise eligible for retiree medical insurance
          coverage from AKS, AKS shall make available to you retiree medical
          insurance coverage, the benefits and duration of which shall at least
          be comparable to the benefits and duration of the retiree medical
          insurance coverage generally available to retired salaried employees
          of AKS; provided however, if at any time on or after your Date of
          Termination you are eligible to receive retiree medical insurance
          coverage based upon benefits available to you as a retiree of another
          employer, the obligations of AKS to continue to provide you with
          retiree medical insurance coverage under this Section A(8) shall be
          limited solely to those benefits necessary to assure that, together
          with the corresponding benefits provided to you under any other pan,
          you receive total benefits comparable to those to which you were
          entitled on the effective date of the Release of Claims. You must
          report to the Vice President, Human Resources of AKS your eligibility
          for another employer's retiree medical insurance coverage. Benefits
          provided under this Section A(8) may be modified from time to time
          after the date hereof without violation of this Agreement if the
          changes are consistent with changes that generally apply to the
          retiree medical coverage available to other salaried employees of AKS.

     (b)  Notwithstanding any provisions to the contrary in the AK Steel Holding
          Corporation Stock Incentive Plan, the AK Steel Corporation Annual
          Management Incentive Plan, and AK Steel Corporation Long-Term
          Performance Plan, the AK Steel Corporation Executive Deferred
          Compensation Plan, and the AK Steel Corporation Supplemental Thrift
          Plan (collectively, the "Plans"), your termination of employment
          hereunder shall be considered your "retirement" solely for purposes of
          determining the amount of any benefits, and the method of payment of
          any benefits, under the Plans.

B.   Executive Responsibilities

     1.   Confidentiality

          (a)  During your employment with AKS and subsequent to the termination
               of that employment for any reason, you will not disclose to any
               person or use for the benefit of yourself or any other person or
               entity any confidential or proprietary information of AKS without
               the prior written consent of the Vice President, Human Resources
               of AKS. Upon your termination of employment with the Company for
               any reason, you will immediately deliver to AKS any and all AKS
               information which you have in your possession or control,
               including but not limited to, information about AKS's practices,
               procedures, operations, trade secrets, customer lists, financial
               matters, or product marketing. You will deliver this information
               to AKS in whatever format in which you have it, including

                                       15

<PAGE>

               but not limited to paper, disk, hard drive, tape, electronic
               storage, Palm Pilot or other PDA, or CD-ROM. You will also
               deliver to AKS any and all AKS property, including but not
               limited to, company credit cards, property access keys and cards,
               planners, day books, customer lists, laboratory notebooks,
               cellular/digital phones, computers, software, and Palm Pilots (or
               other PDA).

          (b)  You also agree that you remain bound by the Employee Invention
               and Confidential Information Agreement which you executed.

     2.   Covenant Not to Compete

          In exchange for AKS's agreement to provide you with the severance
          benefits opportunities set out in this Agreement (including the
          opportunity to receive six months of severance pay set out at Section
          A(4)(a) of the Agreement) and the compensation provided to you as an
          executive officer, you agree that, during your employment at AKS and
          for a period of one year following the termination of your employment
          with AKS for any reason, you agree not to be employed by, or serve as
          director of or consultant or advisor to, any business engaged directly
          or indirectly in the melting, hot rolling, cold rolling, or coating of
          carbon, electrical or stainless steel, or in the manufacturing of
          steel pipe and tubing products, or that is reasonably likely to engage
          in such business during the one-year period following the date when
          your employment with AKS terminates; provided however, if a Change In
          Control occurs, the foregoing restriction applicable to the one year
          period following your Date of Termination shall lapse and be null and
          void.

     3.   Non-Solicitation and Non-Disparagement

          (a)  During your employment at AKS and for a period of five years
               following the termination of your employment with AKS for any
               reason, you agree that you will not solicit directly or cause or
               encourage another person or entity to solicit any employee of the
               Company or its subsidiaries or Affiliates for employment by any
               entity which is engaged directly or indirectly in the melting,
               hot rolling, cold rolling, or coating of carbon, electrical or
               stainless steel, or in the manufacturing of steel pipe and tubing
               products or that is reasonably likely to engage in such business
               during the one year period following your termination of
               employment.

                                       16

<PAGE>

          (b)  You also agree that, during your employment with AKS and
               subsequent to the termination of that employment for any reason,
               you will not disparage the Company or its subsidiaries or its
               Affiliates, operations, products, employees, officers, or
               directors.

     4.   Conflicts of Interest

          You agree for so long as you are employed by AKS to avoid dealings and
          situations which would create a conflict of interest with AKS. In this
          regard, you agree to comply with the AKS policy regarding conflicts of
          interest. You further agree to immediately report to the Vice
          President, Human Resources of AKS any conflict or potential conflict
          of interest with AKS.

     5.   Injunctive Relief

          You recognize and acknowledge that your involvement in decision making
          processes which involve AKS's proprietary and confidential information
          and your access to confidential competitive information will be such
          that, in the event of a breach of the Confidentiality (Section B(1))
          and Covenant Not to Compete (Section B(2)) provisions of this
          Agreement (hereafter referred to together as "Confidentiality and CNC
          Provisions"), monetary damages would be an insufficient remedy for
          AKS, and that AKS would be entitled to injunctive relief in the
          appropriate court to restrain the breach and otherwise enforce the
          Confidentiality and CNC Provisions without proof of actual damages.

C.   Time Limits for Bringing Claims; Arbitration of Claims

     1.   Time Within Which Severance Claims and Employment Claims Must be
          Brought

          Severance Claims must be filed within one (1) year from the Date of
          Termination. Employment Claims must be filed within one (1) year after
          the occurrence of the action or actions upon which the claim is based.
          You agree to waive any statute of limitations to the contrary.

     2.   Arbitration of Severance Claims and Employment Claims

          Severance Claims and Employment Claims shall be submitted to final and
          binding arbitration, subject to the Rules of Arbitration attached to
          this Agreement as Exhibit A. Employment Claims subject to arbitration
          include, but are not limited to, allegations of unlawful
          discrimination based on race, sex, religion, age, national origin,
          disability, and retaliation and any other

                                       17

<PAGE>

          claim of a violation of a right created or protected by local, state,
          or federal law.

          You and AKS agree that it is the intention of you and AKS to avoid
          litigation in court of Severance Claims and Employment Claims and you
          and AKS, therefore, specifically waive any right you or AKS would
          otherwise have to have Severance and Employment Claims decided by a
          judge or jury. You understand that this Agreement does not limit your
          right to file a charge with or to assist any administrative agency,
          including the Equal Employment Opportunity Commission and the National
          Labor Relations Board. However, you further agree that, should any
          person, organization, or other entity file, charge, claim, sue, or
          cause or permit to be filed any civil action, suit or legal proceeding
          involving those matters which you have agreed to submit to final and
          binding arbitration, you will not seek or accept any personal relief
          in any such proceeding.

          You and AKS agree that this agreement to arbitrate and the arbitration
          award are enforceable under and subject to the Federal Arbitration
          Act, 9 U.S.C. ` 1 et. seq. You and AKS consent that judgment upon the
          arbitration award may be entered in an appropriate court of competent
          jurisdiction located in Butler County, Ohio or in the United States
          District Court for the Southern District of Ohio.

D.   Miscellaneous

     1.   Term

          The Agreement is effective as of _______________, 20___ (the
          "Effective Date"). The term of this Agreement is five (5) years,
          except that the term of Sections B, C, D, and Exhibit A are
          indefinite. The Agreement shall be automatically renewed annually from
          and after the Effective Date, unless written notice of non-renewal is
          given by you or by AKS at least ninety (90) days prior to the
          expiration of the term, including any extension thereof.

     2.   Notice

          Notices required or permitted under this Agreement shall be in writing
          and shall be deemed to have been given when personally delivered or
          mailed by United States certified mail, return receipt requested,
          postage prepaid, addressed to the intended recipient at its or his or
          her last known address. Notices to AKS shall be marked for the
          attention of the Vice President, Human Resources of AKS.

                                       18

<PAGE>

     3.   No Contract of Employment

          Nothing in this Agreement shall be construed as a contract or promise
          of continued employment with AKS, AKS's subsidiaries or Affiliates. As
          an "at-will" employee of AKS, your employment may be terminated by you
          or AKS at any time.

     4.   Modification; Waiver

          No provision of this Agreement may be waived, modified or discharged
          except pursuant to a written instrument signed by you and the Chairman
          of the Board or the Chief Executive Officer of AKS.

     5.   Successors; Binding Agreement

          (a)  AKS and Holding will require any successor (whether direct or
               indirect, by purchase, merger, consolidation or otherwise) to all
               or substantially all of the business and/or assets of AKS to
               expressly assume and agree to perform this Agreement in the same
               manner and to the same extent that AKS would be required to
               perform it if no such succession had taken place.

          (b)  This Agreement shall inure to the benefit of and be enforceable
               by you and your personal or legal representatives, executors,
               administrators, successors, heirs, distributees, devisees and
               legatees. If you should die while any amount would still be
               payable to you hereunder had you continuedto live, all such
               amounts, unless otherwise provided herein, shall be paid in
               accordance with the terms of this Agreement to your devisee,
               legatee or other designee, or, if there is no such devisee,
               legatee or designee, to your estate.

     6.   Counterparts

          This Agreement may be executed in one or more counterparts, each of
          which shall be deemed to be an original but all of which together will
          constitute one and the same instrument.

     7.   Severability; Validity

          The provisions of the Agreement (including Exhibit A) are severable
          and the validity or unenforceability of any provision shall not effect
          the validity or enforceability of any other provision, with the
          following exception. If a court rules that Section C(2)'s provisions
          regarding the agreement to waive the right

                                       19

<PAGE>

          to have Severance Claims or Employment Claims decided by judge or jury
          are unenforceable, any and all rights created by Section C(2) of the
          Agreement and Exhibit A to the Agreement will be voided retroactively,
          and the proceeds of any arbitration award must be returned to the
          party from which they originated.

     8.   Choice of Law; Forum Selection

          This Agreement shall be governed by the laws of the United States and
          the laws of the State of Ohio, both as to interpretation and
          performance. Any action or other legal proceeding not subject to
          arbitration under this Agreement or any action or legal proceeding
          regarding the enforceability of this Agreement shall be brought
          exclusively in an appropriate court of competent jurisdiction located
          in Butler County, Ohio (if the action is brought in state court) or in
          the Southern District of Ohio (if such action is brought in federal
          court). Any action brought within such courts shall not be transferred
          or removed by you to any other state or federal court.

                                            Sincerely,

                                            AK STEEL HOLDING CORPORATION

Accepted and agreed to this ____ day
_______________, 20___.                     By:______________________________
                                               Richard M. Wardrop, Jr.

______________________________              AK STEEL CORPORATION

[NAME]
                                           By:_____________________________
                                               Richard M. Wardrop, Jr.

                                       20

<PAGE>

                                    EXHIBIT A
                              RULES FOR ARBITRATION

1.   The arbitration hearing ("Hearing") will take place in Middletown, Ohio,
     unless the parties mutually agree to another location.

2.   The arbitration process will be governed by the National Rules for the
     Resolution of Employment Disputes ("National Rules") of the American
     Arbitration Association ("AAA") except to the extent they are modified by
     the Executive Officer Severance Agreement ("Agreement") and this Exhibit A
     to the Agreement.

3.   Either you or AKS may initiate the arbitration process by filing a written
     demand for monetary or non-monetary relief and notice of intent to
     arbitrate ("Notice") with any regional office of the AAA and paying the
     filing fee as set out in the National Rules. The Notice must be filed
     within the time limits established in Section C(1) of the Agreement. The
     date the Notice is considered "filed" for purposes of Section C(1) of the
     Agreement and this rule is the date the Notice is received in an AAA
     regional office.

4.   You and AKS will share equally any AAA administrative fee other than the
     filing fee. The Company will pay all of the arbitrator's fees. You and AKS
     will bear your own litigation costs and expenses (including attorneys'
     fees), unless the arbitrator awards attorneys fees to a prevailing party in
     accordance with the law applicable to the matter in dispute.

5.   You and AKS will agree upon an arbitrator selected from a panel of
     arbitrators chosen by and maintained at the headquarters office of the AAA
     in New York. Arbitrators on this panel will have the following three
     qualifications: (1) membership on the AAA's National Employment Dispute
     roster; (2) membership on AAA's labor-management roster; and (3) at least
     fifteen years experience as an arbitrator. After the filing of a written
     notice of intent to arbitrate, the AAA will send simultaneously to you and
     AKS an identical list of names of ten (10) persons chosen from the panel.
     You and AKS will have ten (10) days from the transmittal date in which to
     strike any names objected to, number the remaining names in order of
     preference, and return the list to the AAA. If no arbitrator is acceptable
     to both you and AKS or the person who has been approved on both lists and
     selected by the AAA cannot serve promptly, another list or lists will be
     sent out by the AAA in accordance with the above procedure until an
     arbitrator is agreed upon by you and AKS.

6.   Any pre-hearing disputes will be presented to the arbitrator for
     expeditious, final and binding resolution.

7.   You have had an opportunity to review the National Rules and will be given
     the opportunity to review these rules at any time.

8.   The remedy and relief which may be granted by the arbitrator is that which
     the arbitrator deems just and equitable considering what would have been
     available to the parties had the matter been heard in court.

<PAGE>

9.   Discovery - Obtaining Information. You and AKS recognize that a primary
     benefit each derives from entering into the Agreement is that we avoid the
     delay and costs normally associated with litigation. Therefore, you and AKS
     agree that neither party will be entitled to conduct any discovery prior to
     the Hearing except that:

     (a)  AKS will furnish you with copies of all non-privileged documents in
          your personnel file;

     (b)  if you are pursuing a claim against AKS for discharge, you will
          furnish AKS with records of your earnings and benefits relating to
          your subsequent employment and all documents relating to your efforts
          to obtain subsequent employment;

     (c)  AKS and you will exchange no later than seven days prior to the
          Hearing copies of all documents which either party intends to
          introduce as evidence at the Hearing and a list of witnesses either
          party intends to present to the Hearing;

     (d)  you will be allowed (at your expense) to take the deposition of your
          immediate supervisor and the individual who made the decision which
          resulted in your claim (if that individual is not your immediate
          supervisor) for a period not to exceed two hours each, and AKS will be
          allowed (at its expense) to depose you for a period not to exceed two
          hours; and

     (e)  either you or AKS may ask the arbitrator to grant additional discovery
          to the extent permitted by the National Rules if it is demonstrated
          that such discovery is necessary for a fair arbitration and no less
          expensive alternative for exchanging the information exists.

          Nothing herein will prevent either you or AKS from taking the
          deposition of any witness where: (a) the sole purpose for taking the
          deposition is to use the deposition in lieu of the witness testifying
          at the hearing; and (b) the witness is, in good faith, unavailable to
          testify in person at the hearing due to poor health, residency and
          employment more than 50 miles from the hearing site, conflicting
          travel plans or other comparable reason.

10.  You and AKS will have the opportunity to submit to the arbitrator a
     post-hearing brief in support of your respective positions.

11.  All aspects of the procedure under the Agreement, including the hearing,
     the record of the proceedings, and the arbitrator's decision are
     confidential and will not be open to the public, except (a) to the extent
     you and AKS agree otherwise in writing, (b) as may be appropriate in any
     subsequent proceedings between you and AKS, or (c) as may otherwise be
     appropriate in response to a governmental agency or legal process.<PAGE>

                                                                    Exhibit 10.9

                              AK STEEL CORPORATION

                      EXECUTIVE DEFERRED COMPENSATION PLAN

                       -----------------------------------

                         (effective as of July 1, 2002)

<PAGE>

                              AK STEEL CORPORATION

                      EXECUTIVE DEFERRED COMPENSATION PLAN

                       ARTICLE I: INTRODUCTION AND PURPOSE

AK Steel Corporation hereby adopts the AK Steel Corporation Executive Deferred
Compensation Plan, effective as of July 1, 2002. The purpose of the Plan is to
aid AK Steel Corporation and its subsidiaries and affiliates in attracting and
retaining key personnel by providing a vehicle for such employees to accumulate
additional retirement savings to supplement the retirement benefits available to
them under the qualified retirement plans sponsored by AK Steel Corporation.

The Plan is an unfunded deferred compensation arrangement maintained by AK Steel
Corporation for the purpose of providing supplemental retirement benefits for a
select group of management or highly compensated employees within the meaning of
sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income
Security Act of 1974, as amended.

                             ARTICLE II: DEFINITIONS

As used in the Plan, the following terms, when capitalized, shall have the
following meanings, except when otherwise indicated by the context:

2.1  "Account" means the account (including any sub-accounts) established under
this Plan for the benefit of a Participant.

2.2  "Administrator" means the Compensation Committee of the Board of Directors,
or such other committee or person designated by the Board of Directors.

2.3  "Base Salary" means the rate at which that portion of an employee's
compensation is paid as regular periodic base wages while he is an employee of
the Company, disregarding any adjustment in accordance with any Pretax
Authorization Agreement under the Thrift Plan, any deferrals under section125 of
the Code, or any Elective Deferral made under this Plan.

2.4  "Beneficiary" means the person, entity or entities designated by a
Participant to receive the balance of the Participant's Account in the event of
the Participant's death. In the absence of an express designation under this
Plan, a Participant's Beneficiary shall be his estate.

2.5  "Board of Directors" means the Board of Directors of the Company.

2.6  "Change in Control" has the same meaning under this Plan as under the Trust
Agreement for the AK Steel Corporation Non-Qualified Supplemental Retirement
Plans.

2.7  "Chairman" means the Chairman of the Board of Directors.

                                        1

<PAGE>

2.8   "Code" means the Internal Revenue Code of 1986, as amended.

2.9   "Company" means AK Steel Corporation and any successor to all or
substantially all of the assets or business of AK Steel Corporation.

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

2.11  "Election Form" means the participation election form as approved and
prescribed by the Administrator.

2.12  "Elective Deferral" means all or any portion of a Participant's
compensation which the Participant irrevocably elects to defer pursuant to a
written election made in accordance with the provisions of Article VI.

2.13  "Eligible Employee" means any elected officer or member of management of
the Company who is selected by the Chairman and approved by the Administrator to
be eligible for benefits under this Plan and who completes and files an Election
Form with the Administrator.

2.14  "Fixed Income Fund" has the same meaning under this Plan as under the
Thrift Plan.

2.15  "Investment Funds" means such funds as are made available to participants
under the Thrift Plan (and its associated Trust Agreement) for the investment by
participants of their accounts under the Thrift Plan, and/or such other funds as
may be made available by the Administrator from time to time.

2.16  "Participant" means an Eligible Employee who has an Account under the Plan
or a person who was such as of his Termination Date and who retains, or whose
Beneficiary retains, a benefit under the Plan which has not been distributed.

2.17  "Plan" means the AK Steel Corporation Executive Deferred Compensation Plan
as set forth in this instrument, as it may be amended thereafter.

2.18  "Plan Year" means the calendar year.

2.19  "Pretax Contributions" has the same meaning under this Plan as under the
Thrift Plan.

2.20  "Termination Date" means the date a Participant's employment with the
Company terminates for any reason, including death.

2.21  "Thrift Plan" means the AK Steel Corporation Thrift Plan, Plan Document A,
as amended, and any successor or replacement plan for such plan.

                                       2

<PAGE>

2.22  "Thrift Plan Transfer Amount" means with respect to any Plan Year, and
subject to the limitations imposed on contributions to the Thrift Plan by
sections 401(k), 401(m), 402, or 415 of the Code, that portion of the
Participant's Elective Deferrals for such Plan Year that is equal in amount to
the maximum Pretax Contributions permitted under the Thrift Plan for such Plan
Year. In no case shall the Thrift Plan Transfer Amount include any interest,
earnings or gains credited under this Plan.

2.23  "Thrift Plan Transfer Period" means the period from January 1 to and
including March 15 of each Plan Year.

2.24  "Trust" means the Trust Agreement for the AK Steel Corporation
Non-Qualified Supplemental Retirement Plans, as amended, and any successor or
replacement trust for such trust.

2.25  "Trustee" means the trustee under the Trust.

                       ARTICLE III: ADMINISTRATION OF PLAN

This Plan shall be administered by the Administrator or such delegate as the
Administrator may designate from time to time. The Administrator (or such
delegate) shall have full discretion to interpret the Plan's terms, and to
resolve claims which may arise under the Plan.

                         ARTICLE IV: SOURCE OF BENEFITS

4.1   General. The Company may pay benefits due under the terms of this Plan
directly from its assets or from assets held in the Trust. All assets held by
the Trust shall at all times be assets of the Company. The benefits payable
under this Plan shall be unfunded for all purposes of the Code and ERISA.

4.2   Assets of the Company. Nothing contained in this Plan shall give or be
deemed to give any Participant or any other person any interest in any property
of the Trust or of the Company or any right except to receive such payments as
are expressly provided hereunder.

4.3   Funding upon Change in Control. In the event of a Change in Control, the
Company shall fully fund all benefits then accrued under this Plan by delivering
sufficient assets to the Trustee in cash or in kind. Such funding obligation may
be secured by an irrevocable letter of credit issued to the Trustee by such bank
or other lending institution as approved by the Administrator.

                    ARTICLE V: ELIGIBILITY AND PARTICIPATION

5.1   Eligibility. Participation in this Plan shall be limited to Eligible
Employees. Participation shall commence upon the completion and filing with the
Administrator of a properly completed Election Form. An Eligible Employee who
becomes a Participant shall continue to be a Participant until such time as his
Account has been completely distributed to him or his Beneficiary.

                                        3

<PAGE>

5.2   Removal. The Chairman, subject to the approval from time to time by the
Administrator, may remove any Participant from future participation in this
Plan. Such removal shall not affect the removed Participant's benefits under
this Plan that accrued prior to the effective date of the removal. Such benefits
shall be distributed to the removed Participant in accordance with procedures
established by the Administrator.

                         ARTICLE VI: DEFERRAL ELECTIONS

6.1   Initial Election. With respect to any Plan Year, an Eligible Employee may
elect to defer a percentage or specific dollar amount of one or more components
of his compensation during such Plan Year (or remainder thereof if the
individual becomes an Eligible Employee during the Plan Year) by completing an
Election Form and delivering it to the Administrator within thirty (30) days
following his designation as an Eligible Employee; provided however, such
election shall be effective only if the percentage or specific dollar amount of
compensation so elected to be deferred hereunder exceeds the maximum Pretax
Contributions permitted under the Thrift Plan for such Plan Year.

6.2   Annual Election. Subject to the provisions of Sections 6.3, an Eligible
Employee who does not initially elect to defer compensation in accordance with
Section 6.1 when first eligible, and each other Participant, may, by completing
an Election Form and delivering it to the Administrator on or before December
31st of any Plan Year, elect to defer a percentage or dollar amount of one or
more components of compensation payable to the Participant during the Plan Year
that commences immediately after the Administrator receives a timely filed
Election Form; provided however, such election shall be effective only if the
percentage or specific dollar amount of compensation so elected to be deferred
hereunder exceeds the maximum Pretax Contributions permitted under the Thrift
Plan for such Plan Year.

6.3   Elective Deferral Procedures.

      (a) Base Salary. Except as provided under Section 6.1, a Participant's
election to defer either a percentage or a specific dollar amount of such
Participant's Base Salary shall only be effective on the first day of the Plan
Year beginning after the date of timely delivery to the Administrator of a
properly signed and completed Election Form in accordance with Section 6.2. A
Participant may only change his deferral election with respect to Base Salary
under this Plan prospectively and in accordance with Section 6.2, with the
change to become effective as of the first day of the Plan Year following
delivery of written notice to the Administrator; provided however, a Participant
may revoke such election for the remainder of the Plan Year to which the
election relates following delivery of written notice to the Administrator.

      (b) Annual Bonuses. Except as provided under Section 6.1, a Participant
may elect to defer all or any portion of any regular or annual bonus earned in
any Plan Year by such Participant if a properly completed Election Form is
delivered to the Administrator prior to the first day of the Plan Year with
respect to which the bonus is earned. Such election is irrevocable

                                        4

<PAGE>

on and after the first day of such Plan Year, regardless of the actual date the
bonus with respect to such Plan Year would otherwise be paid.

          (c)  Long-Term Incentive Bonuses. Except as provided under Section
6.1, a Participant may elect to defer all or any portion of any long-term
incentive bonus earned by such Participant with respect to any period that is
longer than a single Plan Year as designated by the Company. Any such election
shall be made no later than the first day of the twelfth (12/th/) month
preceding the end of such period in which the long-term incentive bonus is
earned, and such election shall be irrevocable after the first day of such
twelfth (12/th/) month.

6.4  Elections Irrevocable. Any election to defer compensation that is timely
filed as provided under this Article VI shall be irrevocable after the
commencement of the period to which the election relates, except as expressly
otherwise provided in this Article VI or in Section 8.7.

6.5  Thrift Plan Transfers. By authorizing Elective Deferrals under this Plan, a
Participant who is eligible to participate in the Thrift Plan shall be deemed to
have authorized the Trustee and the Administrator to pay to the Trustee under
the Thrift Plan on or before the last day of the Thrift Plan Transfer Period an
amount equal to the Thrift Plan Transfer Amount, provided such Participant is
employed by the Company on the date such transfer would otherwise be made.

6.6  Vesting. Except as provided in Sections 8.7 and 10.4, a Participant shall
at all times be fully vested in his Account.

                              ARTICLE VII: ACCOUNTS

7.1  Participants' Accounts. The Administrator shall establish an Account for
each Participant. Each such Account shall be credited not less frequently than
quarterly with the Participant's Elective Deferrals, together with any income,
gain or loss allocable to such Account in accordance with Section 7.2, and
reduced to reflect any amounts paid from such Account. The Administrator shall
establish such sub-accounts for each Participant as are necessary for the proper
administration of the Plan. The Administrator shall periodically provide each
Participant with a statement of his Account reflecting the contributions,
income, gains and losses, and distributions from such Account since the prior
statement.

7.2  Investment Elections. Each Participant may elect the manner in which his
Account is invested among the Investment Funds in accordance with procedures
established by the Administrator. Participants may change their investment
elections among the Investment Funds during the Plan Year in accordance with
such procedures. Each Participant's Account shall be credited with earnings or
losses as if the Account was actually invested in such Investment Funds as
elected by the Participant. If a Participant does not direct the investment of
his Account (or any portion thereof), such Participant shall be deemed to have
elected to direct the investment of his Account (or such portion) in the Fixed
Income Fund, or any successor to the Fixed Income Fund as the Administrator
shall determine.

                                        5

<PAGE>

7.3  Investments. Notwithstanding any provision in this Plan to the contrary,
the Investment Funds are to be used for measurement purposes only under this
Plan. A Participant's election of any Investment Funds under Section 7.2, the
allocation of his Account among such Investment Funds, and the calculation of
additional amounts to be credited or debited to a Participant's Account shall
not be considered or construed as an actual investment of his Account in any
Investment Funds. In the event that the Company or the Trustee actually invest
funds in any Investment Funds, Participants shall have no rights to or interest
in any such funds.

                        ARTICLE VIII: PAYMENT OF BENEFITS

8.1  Forms of Payment.

     (a)  Lump-Sum. A Participant's vested Account balance will be paid in a
     single lump-sum payment unless an installment payment is elected in
     accordance with Section 8.1(b) below. If no method of distribution is
     designated, any distribution shall be made in a single lump-sum.

     (b)  Installments. A Participant may elect to receive distribution of his
     Account balance upon the Participant's Retirement or Early Retirement (as
     these terms are defined in the Thrift Plan) or in at least two (2) but not
     more than five (5) annual installments. Installments shall be in equal
     annual payments with the amount of each payment to be adjusted from time to
     time as is necessary to reflect earnings, gains and losses allocable to his
     remaining Account balance. An election of installment payments must be made
     in writing and delivered to the Administrator on or before December 31st of
     the Plan Year prior to the Plan Year in which the first installment payment
     is to be made. Unless otherwise determined by the Administrator, in its
     sole discretion, any election of installment payments shall be void upon:
     (1) the Participant's death, in which case such Participant's Account
     balance shall be paid in accordance with Section 8.3; (2) the Participant's
     total and permanent disability, in which case such Participant's Account
     balance shall be paid in accordance with Section 8.4; or (3) the date of
     the Participant's involuntary termination of employment, in which case such
     Participant's Account balance shall be paid in accordance with Section
     8.1(a) above.

8.2  Commencement of Benefits.

     (a)  General. A Participant's Account shall be paid, or commence to be paid
     in the case of installments, to the Participant, or in the case of the
     Participant's death, to the Participant's Beneficiary, within thirty (30)
     days following the Participant's Termination Date.

     (b)  Default. If a Participant's Account is not paid in accordance with
     Section 8.2(a) for any reason (other than the suspension of benefits by
     reason of insolvency of the Company in accordance with the Trust), the
     Participant (or the Participant's Beneficiary in the case of a distribution
     following the Participant's death) may direct the Trustee to make
     distribution to the Participant by delivering to the Trustee a written,
     sworn

                                        6

<PAGE>

     statement, certifying that the Participant has qualified for commencement
     of benefits under the terms of this Plan and stating the amount of benefits
     to be paid to the Participant. Any distribution under this Section 8.2(b)
     shall be paid in a single lump-sum regardless of the form of distribution
     previously elected by the Participant.

8.3  Distribution upon Death. If a Participant dies prior to the complete
distribution of his Account, the balance of the Account then remaining shall be
paid within thirty (30) days following the Participant's death to the
Participant's designated Beneficiary in a single lump-sum payment.

8.4  Distribution upon Disability. If a Participant becomes totally and
permanently disabled in the judgment of the Administrator, the balance of the
Participant's Account shall commence to be paid to the Participant within thirty
(30) days following the Administrator's finding of total and permanent
disability but not more than thirty (30) days following the commencement of
disability benefits from either federal social security or under the Company's
long-term disability plan. Any such finding by the Administrator shall be
contained in a writing setting forth the basis for such conclusion, signed by
the Administrator and dated to establish the date disability is confirmed for
the purposes of this Plan. Qualification for federal social security benefits or
for long-term disability benefits under the Company's long-term disability plan
shall be conclusive proof of qualification for disability benefits under this
Plan.

8.5  Distribution upon Removal. If a Participant is removed from participation
in this Plan pursuant to Section 5.2, payment of the Participant's Account to
the Participant may, notwithstanding the provisions of Section 8.2(a), and in
the discretion of the Administrator, commence prior to the Participant's
Termination Date according to procedures approved by the Administrator.

8.6  Unforeseen Financial Emergency. If a Participant suffers an unforeseen
financial emergency, as defined herein, the Administrator, in its sole
discretion, may pay to the Participant only that portion of his Account which
the Administrator determines to be necessary to satisfy the emergency need,
including any amounts necessary to pay any federal, state or local income taxes
reasonably anticipated to result from the distribution. A Participant requesting
an emergency payment shall apply for the payment in writing in a form approved
by the Administrator and shall provide such additional information as the
Administrator may require. For purposes of this paragraph, "unforeseen
emergency" means an immediate and heavy financial need resulting from any of the
following:

     (a)  expenses which are not covered by insurance and which the Participant
or his spouse or dependent has incurred as a result of, or is required to incur
in order to receive, medical care or long-term custodial care of a dependent of
the Participant; or

     (b)  the need to prevent eviction of a Participant from his principal
residence or foreclosure on the mortgage of the Participant's principal
residence; or

     (c)  expenses which are not covered by insurance and which the Participant
or his spouse or dependent has incurred as a result of an accident or natural
catastrophe; or

                                       7

<PAGE>

     (d)  any other circumstance that is determined by the Administrator in its
sole discretion to constitute an unforeseen emergency which is not covered by
insurance and which cannot reasonably be relieved by the liquidation of the
Participant's other assets.

8.7  Early Withdrawal on Demand. Notwithstanding any other provision of the
Plan, a Participant may, upon written request to the Administrator, elect to
receive a distribution of the Participant's entire Account under the Plan
subject to the penalties described below:

     (a)  the lump-sum payment will be equal to 90% of the Participant's then
current Account;

     (b)  the remaining balance of the Participant's Account shall be forfeited;
and

     (c)  the Participant will not be eligible to make any Elective Deferrals
until the first day of the January following the one-year period measured from
the date of withdrawal, and then only if otherwise eligible to participate under
the terms of the Plan.

Notwithstanding the foregoing, any election to defer any portion of any annual
bonus or long-term incentive bonuses that was delivered to the Administrator in
any Plan Year prior to the Plan Year in which the notice of withdrawal on demand
is delivered to the Administrator shall remain in effect in accordance with the
terms of the election.

The amount payable under this Section 8.7 shall be paid within forty-five (45)
days following receipt by the Administrator of the Participant's written request
for withdrawal.

8.8  Withholding. All federal, state or local taxes that the Administrator
determines are required to be withheld from any payments made pursuant to this
Article VIII shall be withheld by the Company. Each Participant shall be solely
responsible for any and all taxes payable on any sums distributed to or on
behalf of any Participant under this Plan.

              ARTICLE IX: INTERPRETATION, AMENDMENT AND TERMINATION

9.1  Interpretation of the Plan. This document contains the terms of the Plan.
However, the Administrator shall have, and the Board of Directors expressly
reserves to itself and its designate, the broadest possible power to exercise
its discretion to interpret the terms of this Plan and to resolve any question
regarding any person's rights under the Plan. Any such interpretation shall be
final and binding upon a Participant, his spouse and his heirs and subject to
review only in accordance with Section 9.2.

9.2  Claims Procedure. Any Participant or other person questioning the rights of
any person under the Plan shall submit such question in writing to the
Administrator, or its designate, for resolution. No person shall have any claim
or cause of action for any benefit under this Plan until the Administrator, or
its designate, has responded to such written claim, which response shall not be
unreasonably delayed. It is the intent of the Company, and each Participant
agrees as a condition of participation, that any judicial review of any decision
hereunder shall be limited

                                        8

<PAGE>

to a determination of whether the Administrator, or its designate, acted
arbitrarily or capriciously, and that any decision of the Administrator or its
designate shall be enforced unless the action taken is found by a court of
competent jurisdiction to have been arbitrary or capricious.

9.3  Amendment or Termination of Plan. The Board of Directors may, at any time,
with or without notice to any person, amend or terminate this Plan; provided,
however, that neither the amendment nor the termination of the Plan may reduce a
Participant's Account or adversely affect the rights of any Participant to the
benefits accrued by the Participant prior to the date of the action
accomplishing the amendment or termination.

                            ARTICLE X: MISCELLANEOUS

10.1 Unsecured General Creditor. The Plan shall at all times be entirely
unfunded and no provision shall at any time be made with respect to segregating
any assets of the Company for payment of any benefits hereunder. No Participant
or Beneficiary shall acquire any property interest in his Account or any other
assets of the Company, their rights being limited to receiving from the Company
deferred payments as set forth in this Plan and these rights are conditioned
upon continued compliance with the terms and conditions of this Plan. To the
extent that any Participant or Beneficiary acquires a right to receive benefits
under this Plan, such right shall be no greater than the right of any unsecured
general creditor of the Company.

10.2 Obligations to the Company. If a Participant becomes entitled to a
distribution of benefits under this Plan, and if at such time the Participant
has any outstanding debt, obligation or other liability representing an amount
owed to the Company, then the Company may offset such amounts against the amount
of benefits otherwise distributable under the Plan. Such determination shall be
made by the Administrator.

10.3 Assignment or Alienation. Except as required by law, no right of a
Participant or designated Beneficiary to receive payments under this Plan shall
be subject to transfer, anticipation, commutation, alienation, sale, assignment,
encumbrance, charge, pledge, or hypothecation or to execution, attachment, levy
or similar process or assignment by operation of law and any attempt, voluntary
or involuntary, to effect any such action shall be null and void and of no
effect.

10.4 Forfeiture for Cause. Any Participant may be terminated for "Cause" with
written notice setting forth the Cause for termination. "Cause" means a willful
engaging in gross misconduct materially and demonstrably injurious to the
Company. "Willful" means an act or omission in bad faith and without reasonable
belief that such act or omission was in or not opposed to the best interests of
the Company. Any such determination shall be made by the Administrator in its
sole discretion. Notwithstanding the provisions of Section 6.6, upon termination
for Cause, such Participant shall forfeit any earnings allocated to such
Participant's Account under Article VII. In no event shall any Elective
Deferrals be subject to forfeiture.

10.5 Sale of Business. Neither the sale of all of the outstanding stock of the
Company or its parent company, AK Steel Holding Corporation, nor the sale of
substantially all of the assets of

                                        9

<PAGE>

the Company shall be or be deemed to be a termination of service for the purpose
of establishing a Participant's right to commence to receive benefits under this
Plan.

10.6  General Conditions. Any retirement benefit or any other benefit payable
under the Thrift Plan shall be paid solely in accordance with the terms and
conditions of the Thrift Plan and nothing in this Plan shall operate or be
construed in any way to modify, amend or affect the terms and provisions of the
Thrift Plan.

10.7  No Guaranty of Benefits. Nothing contained in the Plan shall constitute a
guaranty by any person that the assets of the Company will be sufficient to pay
any benefit hereunder.

10.8  No Enlargement of Rights. No Participant or Beneficiary shall have any
right to a benefit under the Plan except in accordance with the terms of the
Plan. Establishment of the Plan shall not be construed to give any Participant
the right to be retained in the service of the Company.

10.9  Construction. Article and section headings in this Plan are for
convenience of reference only and shall not be considered as part of the terms
of the Plan. Words in the masculine gender include the feminine, and the
singular includes the plural, and vice versa, unless qualified by the context.

10.10 Validity. In the event any provision of this Plan is found by a court of
competent jurisdiction to be invalid, void or unenforceable, such provision
shall be stricken and the remaining provisions shall continue in full force and
effect.

10.11 Binding on Successors, Purchasers, Transferees and Assignees. The Plan
shall be binding upon any successor or successors of the Company whether by
merger, consolidation, or otherwise. In the event of the sale or transfer of
substantially all of the assets of the Company to any successor, purchaser,
transferee or assignee, the Company agrees that as a condition of such sale or
transfer, the successor, purchaser, transferee or assignee shall adopt and
assume the Plan at the time of the sale, transfer or assignment including,
without limitation, all obligations which have accrued or may accrue in the
future, and shall be bound by all the terms and provisions of the Plan, and the
Company shall remain fully liable under the Plan.

10.12 Applicable Law. This Plan is subject to interpretation under federal law
and, to the extent applicable, the law of the State of Ohio.

                                               AK STEEL HOLDING CORPORATION
                                               AK STEEL CORPORATION

                                               By:    __________________________

                                               Title: __________________________

Adopted: April 18, 2002

                                       10

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