SEC Contract Filing

Filing Date: 2017-03-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>a105-amendment.htm
<DESCRIPTION>FORM OF AMENDMENT TO 2016 RESTRICTED STOCK UNIT AWARD AGREEMENT
<TEXT>
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<div><a name="sa60a2bf6ef744e80acbf4295a78af2d6"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 10.5</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">KAISER ALUMINUM CORPORATION</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2006 EQUITY AND PERFORMANCE INCENTIVE PLAN</font></div><div style="line-height:120%;padding-bottom:24px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">AMENDMENT TO RESTRICTED STOCK UNIT AWARD AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THIS AMENDMENT TO RESTRICTED STOCK UNIT AWARD AGREEMENT (this &#8220;Amendment&#8221;), effective as of March 8, 2017, amends the Restricted Stock Award Agreement, effective as of March 5, 2016 (the &#8220;Award Agreement&#8221;), evidencing the grant of Restricted Stock Units by Kaiser Aluminum Corporation, a Delaware corporation (the &#8220;Company&#8221;), to the undersigned Participant (the &#8220;Participant&#8221;) pursuant to the provisions of the Kaiser Aluminum Corporation 2006 Equity and Performance Incentive Plan (the &#8220;Plan&#8221;). All capitalized terms used herein shall have the meanings ascribed to them in the Plan unless specifically set forth otherwise herein.;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Company and the Participant have determined that it is in the best interests of both such parties to amend the Award Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOW THEREFORE, the Company and the Participant agree as follows:</font></div><div style="line-height:120%;padding-left:0px;text-align:left;text-indent:48px;"><font style="text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:10pt;">Section 3(b) of the Award Agreement is hereby amended to read in its entirety as follows:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company shall issue or deliver Common Shares to settle vested RSUs granted hereunder: (i) except with respect to Sections 5 and 6 of this Agreement, on the applicable date set forth under the &#8220;Vesting Schedule&#8221; on the electronic cover page to which this Agreement is attached; (ii) in the event of the Participant&#8217;s death (the event contemplated by Section 5(a) of this Agreement) or &#8220;separation from service&#8221; from the Company within the meaning of Section 409A of the Code and Section 1.409A-1(h) of the Treasury Regulations (the event for purposes of Section 409A of the Code contemplated by either Section 5(b), 5(c), or 5(d) of this Agreement), on the date of such event; or (iii) with respect to an event contemplated by Section 6 of this Agreement, on the date of the Change in Control; provided, that if the Change in Control does not constitute a &#8220;change of control event&#8221; (as described in Treasury Regulation Section&#160;1.409A-3(i)(5)(i)) with respect to the Company, the Common Shares will not be issued or delivered as a result of such event and shall instead be issued or delivered in accordance with this Section 3(b) of this Agreement upon the next event contemplated hereby.</font></div></td></tr></table><div style="line-height:120%;padding-left:0px;text-align:left;text-indent:48px;"><font style="text-align:left;font-family:inherit;font-size:10pt;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:10pt;">Section 3 of the Award Agreement is hereby revised to add a new subsection (c) thereto to read in its entirety as follows (with all subsequent subsections of Section 3 being re-lettered accordingly):</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-f