Document:

Exhibit

Exhibit 10(l)(2)

SECOND AMENDMENT TO ARCONIC
EMPLOYEES’ EXCESS BENEFITS PLAN C
(as amended and restated effective August 1, 2016)

Pursuant to Section 5.1 of the Arconic Employees’ Excess Benefits Plan C (“Plan”), the Plan is amended effective January 1, 2018, as follows:  

1.    Article I (“Definitions”) of the Plan shall be amended by deleting definition of “Committee” therefrom.

2.     Article I (“Definitions”) of the Plan shall be amended by inserting the following definitions of “Benefits Investments Committee” and “Benefits Management Committee” therein:

“Benefits Investments Committee” means the Benefits Investments Committee of Arconic Inc., which shall have authority over the investment and management of any and all corporate assets attributable or allocated to this Excess Plan (to the extent that this Excess Plan becomes funded). Prior to January 1, 2018, such authority was vested in the Benefits Management Committee.

“Benefits Management Committee” means the Benefits Management Committee of Arconic Inc. (previously known as the Benefits Management Committee of Alcoa Inc.), which shall have powers over administration of this Excess Plan as provided herein. 

3.    Article I (“Definitions”) of the Plan shall be amended by restating the definition of “Company” as follows (with new language underlined and deleted language stricken):

“Company” means Arconic Inc. (previously known as Alcoa Inc.).  Alcoa Inc.  It is contemplated that Alcoa Inc. will formally change its corporate name to Arconic Inc. in the second half of 2016.

4.    References in the Plan to the “Committee” in the following sections shall be revised to be references to the “Benefits Management Committee”: 2.4, 4.1, 5.1, 7.1 and 8.1.

5.    Section 3.1 of the Plan shall be amended by inserting the following sentence at the end thereof:

To the extent that this Excess Plan becomes funded in the future, the Benefits Investments Committee shall have authority over the investment and management of any and all corporate assets attributable or allocated to this Excess Plan.  In this regard, the Benefits Investments Committee shall have the authority to approve, to adopt, to amend, to merge and to terminate any trust established to secure any such assets.

6.    In all other respects, the Plan is ratified and confirmed.Exhibit

Exhibit 10(oo)(1)

FIRST AMENDMENT TO THE
RTI INTERNATIONAL METALS, INC. 2014 STOCK AND INCENTIVE PLAN, AS AMENDED AND
 ASSUMED BY ARCONIC INC.

This First Amendment (this “Amendment”) to the RTI International Metals, Inc. 2014 Stock and Incentive Plan, as amended and assumed by Arconic Inc. (the “2014 RTI Plan”) (all capitalized terms not defined herein shall have the meanings ascribed to them in the 2014 RTI Plan) is adopted as of January 19, 2018 by the Board of Directors of Arconic Inc. (the “Company”).
1.The definition of “Affiliate” or “Affiliated Company” in Section 2(c) of the 2014 RTI Plan is hereby amended and restated in its entirety to read as follows:
“Affiliate” shall have the meaning set forth in Rule 12b-2 under Section 12 of the Exchange Act.”
2.The definition of Change of Control in Section 2(g) of the 2014 RTI Plan is hereby amended and restated in its entirety to read as follows:  
“Change in Control” means the occurrence of an event set forth in any one of the following paragraphs:
(i)    any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 30% or more of either (A) the then-outstanding Stock (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes hereof, the following acquisitions shall not constitute a Change of Control: (1) any acquisition directly from the Company, (2) any acquisition by the Company, (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its Affiliates or (4) any acquisition pursuant to a transaction that complies with clauses (A), (B), and (C) of paragraph (iii) of this definition;
(ii)  individuals who, as of May 24, 2017, constituted the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to May 24, 2017 whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board shall not be considered a member of the Incumbent Board unless and until such individual is elected to the Board at an annual meeting of the Company occurring after the date such individual initially assumed office, so long as such election occurs pursuant to a nomination approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board, which nomination is not made pursuant to a Company contractual obligation;
(iii)   consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its Subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its Subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, 55% or more of the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any corporation resulting from such Business Combination or any employee benefit 

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plan (or related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 30% or more of, respectively, the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) of the entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such entity entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent securities), except to the extent that such ownership existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or
(d)   the shareholders of the Company approve a plan of complete liquidation or dissolution of the Company.
3.        The definition of Person in Section 2(bb) of the 2014 RTI Plan is hereby deleted and replaced with “[Reserved.]”
4.    Except as expressly amended hereby, the terms and conditions of the 2014 RTI Plan shall remain in full force and effect.  Section 23(i) of the Plan (Governing Law) shall apply to this Amendment as if set forth herein.

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Exhibit 10(p)

ARCONIC INC.

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

Effective December 5, 2017, except as otherwise stated herein
1.General.  This Non-Employee Director Compensation Policy (the "Policy"), sets forth the cash and equity-based compensation that has been approved by the Board of Directors (the "Board") of Arconic Inc., a Pennsylvania corporation, (the "Company") as payable to eligible non-employee members of the Board ("Non-Employee Directors"), as of December 5, 2017 or such other date stated herein. The cash and equity-based compensation described in this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each Non-Employee Director who may be eligible to receive such compensation. This Policy shall remain in effect until it is revised or rescinded by further action of the Board. The terms and conditions of this Policy shall supersede any prior cash or equity compensation arrangements between the Company and its Non-Employee Directors. As of December 31, 2017, Arconic Inc. will reincorporate in Delaware via merger with a newly formed Delaware-incorporated subsidiary, and as from such reincorporation date, references to the "Company" herein shall be with respect to such Delaware corporation.
2.Cash Compensation.

(a) Annual Retainers. Each Non-Employee Director shall be eligible to receive an annual cash retainer of $120,000 for service on the Board. In addition, a Non-Employee Director shall receive the following additional annual retainers, as applicable: 
	
		
	Non-Employee Director Position
	Additional Annual Cash Retainer Fee

	Chairman of the Board
	$300,000(1)

	Audit Committee Chair Fee (includes Audit Committee Member Fee)
	$27,500

	Audit Committee Member Fee 
	$11,000

	Compensation and Benefits Committee Chair Fee
	$20,000

	Other Committee Chair Fee
	$16,500

(1) Effective as of October 23, 2017.
(b) Payment of Retainers. The annual retainers described in Section 2(a) shall be earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in arrears not later than the third business day following the end of each calendar quarter (if not deferred by the Non-Employee Director in accordance with subsection (d) hereof). In the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 2(a), for an entire calendar quarter, the retainer paid to such Non-Employee Director shall be prorated for the portion of such calendar quarter actually served as a Non-Employee Director, or in such positions, as applicable. 
(c) Exceptional Meeting Fees. Effective January 1, 2018, a fee of $1,500 shall be paid to a Non-Employee Director for each Board or committee meeting attended by such Non-Employee Director in excess of the number of regular Board or committee meetings scheduled by the Board for the applicable calendar year. Such exceptional meeting fees shall be paid by the Company in arrears not later than the third business day following the end of the calendar quarter in which any such exceptional meeting occurs (if not deferred by the Non-Employee Director in accordance with subsection (d) hereof). 

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(d) Deferral of Retainers. Non-Employee Directors may elect to defer payment of all or a portion of the annual retainers described in Section 2(a) and the exceptional meeting fees described in Section 2(c) into specified investment funds and/or into vested restricted share units for shares of the Company's common stock, which deferral will be made pursuant to the terms of the Company's Amended and Restated Deferred Fee Plan for Directors or its successor plan (the "Deferred Fee Plan"). Unless otherwise determined by the Board, any restricted share units will be granted under the 2013 Arconic Stock Incentive Plan or its successor plan (the "Equity Plan"), on the date on which such retainer(s) would otherwise have been paid in cash. The extent to which a Non-Employee Director may defer annual retainer payments into vested restricted share units will therefore be subject to any limit on awards granted to a Non-Employee Director set forth in the Equity Plan. As of the date hereof, subject to amendment at the Company’s annual meeting of stockholders in 2018 ("2018 Annual Meeting") in accordance with Section 5 below, such limit on awards under the Equity Plan is $250,000 in any one-year period (the “Award Limit”). 
3.Equity Compensation. Non-Employee Directors shall be granted the equity awards described below. The awards described below in paragraphs 3(a) and 3(b) shall be granted under and shall be subject to the terms and provisions of the Equity Plan and shall be granted subject to an award agreement in substantially the same form approved by the Board prior to or as of the grant date, setting forth the terms of the award (the "Award Terms"), consistent with the Equity Plan. For purposes of this Section 3, the number of shares subject to any restricted share unit award will be determined by dividing the grant date dollar value specified under subsection (a) or (b) hereof by the Fair Market Value (as defined in the Equity Plan) of a share of the Company's common stock on the date of grant.
(a) Annual Equity Award. Commencing as of the Company’s 2018 Annual Meeting, a person who is a Non-Employee Director immediately following each annual meeting of the Company's stockholders and who will continue to serve as a Non-Employee Director following such annual meeting shall be automatically granted on the second market trading day following the date of each such annual meeting a restricted share unit award with a grant date value equal to $150,000 (the "Annual Equity Award"). The Annual Equity Award shall vest on the earlier of the first anniversary date of the grant date or the date of the Company's next subsequent annual meeting of stockholders following the grant date.
(b) Pro-Rated Annual Equity Award. On the fifth market trading day following a person's initial appointment as a Non-Employee Director, and provided such person has not otherwise received an Annual Equity Award for the relevant year under Section 3(a), the Non-Employee Director shall be automatically granted a restricted share unit award with a grant date value equal to $120,000 if such person’s initial appointment as a Non-Employee Director occurs prior to the 2018 Annual Meeting or  $150,000 if such person’s initial appointment as a Non-Employee Director occurs on or after the 2018 Annual Meeting, in each case multiplied by a fraction, the numerator of which is 365 less the number of days that have elapsed since the date of the Company's last annual meeting of stockholders and the Non-Employee Director's date of initial appointment, and the denominator of which is 365 (the "Pro-Rated Award"). The Pro-Rated Award shall vest on the date of the Company's next subsequent annual meeting of stockholders following the date of the Non-Employee Director's appointment to the Board. 
(c) Special Vesting of Equity Awards. Notwithstanding Sections 3(a) or (b) above and as shall be further set forth in the Award Terms: (i) unvested equity awards shall vest in full upon the death of a Non-Employee Director or upon a Change in Control where a Replacement Award is not provided or the Non-Employee Director’s service is terminated (where Change in Control and Replacement Award are as defined in the Equity Plan); and (ii) unvested equity awards shall vest on a pro-rata basis in the event of a Non-Employee Director's termination of service for any other reason.
(d) Deferral of Equity Award. Payment of the Annual Equity Award or any Pro-Rated Award will be deferred until the Non-Employee Director's separation from service, in accordance with the terms of the Deferred Fee Plan, unless otherwise required by applicable laws.
4.Stock Ownership Guideline. Within a period of six years from the date of a person's initial appointment as a Non-Employee Director, each Non-Employee Director is required to attain ownership of at least $750,000 in the Company's common stock and must maintain such ownership until retirement from the Board.

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5.Director Compensation Limit. As shall be further set forth in the Equity Plan and presented to the Company’s stockholders for approval at the Company’s 2018 Annual Meeting in place of the Award Limit, the sum of the grant date value of all equity awards granted and all cash compensation paid by the Company to a Non-Employee Director as compensation for services as a Non-Employee Director shall not exceed $750,000 during any calendar year. For avoidance of doubt, compensation shall count towards this limit for the fiscal year in which it is granted or earned, and not later when distributed, in the event it is deferred.
6.Policy Subject to Amendment, Modification and Termination. This Policy may be amended, modified or terminated by the Board in the future at its sole discretion, provided that no such action that would materially and adversely impact the rights with respect to annual retainers payable in the fiscal quarter during which a Non-Employee Director is then performing services shall be effective without the consent of the affected Non-Employee Director. 

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