SEC Contract Filing

Filing Date: 2024-02-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.35
<SEQUENCE>4
<FILENAME>aa-ex10_35.htm
<DESCRIPTION>EX-10.35
<TEXT>
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 <div style="padding-top:0.5in;min-height:1in;box-sizing:border-box;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p></div>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Exhibit 10.35</font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
 <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:center;"><font style="text-transform:uppercase;color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">ALCOA CORPORATION<br>TERMS AND CONDITIONS FOR<br>SPECIAL RETENTION AWARDS<br>(RESTRICTED SHARE UNITS)</font></p>
 <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">These terms and conditions, including Appendices attached hereto (the &#x201c;Award Terms&#x201d;), are authorized by the Compensation and Benefits Committee (the &#x201c;Committee&#x201d;) of the Board of Directors (the &#x201c;Board&#x201d;). They are deemed to be incorporated into and form a part of the Award of special retention Restricted Share Units (&#x201c;Special Retention Award&#x201d;) issued on or after January 24, 2024, under the Alcoa Corporation 2016 Stock Incentive Plan, as may be amended from time to time (the &#x201c;Plan&#x201d;).</font></p>
 <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Terms that are defined in the Plan have the same meanings in the Award Terms.</font></p>
 <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">General Terms and Conditions</font></p>
 <div style="display:flex;margin-top:12pt;justify-content:flex-start;align-items:baseline;margin-bottom:12pt;min-width:6.667%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:6.667%;display:inline-flex;justify-content:flex-start;">1.</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">Special Retention Awards are subject to the provisions of the Plan and the provisions of the Award Terms. If the Plan and the Award Terms are inconsistent, the provisions of the Plan will govern. Interpretations of the Plan and the Award Terms by the Committee are binding on the Participant and the Company. A Special Retention Award is an undertaking by the Company to issue the number of Shares indicated in the Participant&#x2019;s account with the Company&#x2019;s designated stock plan broker or service provider (the &#x201c;Broker&#x201d;), subject to the fulfillment of certain conditions, except to the extent otherwise provided in the Plan or herein. A Participant has no voting rights or rights to receive dividends on a Special Retention Award, but the Board has authorized that dividend equivalents be accrued and paid on a Special Retention Award in accordance with paragraphs 2 and 4 below. Any dividend equivalents will be subject to the same applicable terms and conditions (including vesting, timing of payment, forfeitability and clawback) as apply to the Special Retention Award on which the dividend equivalents were credited. </font></div></div>
 <p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:12pt;text-align:center;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Vesting and Payment</font></p>
 <div style="display:flex;margin-top:12pt;justify-content:flex-start;align-items:baseline;margin-bottom:12pt;min-width:6.667%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:6.667%;display:inline-flex;justify-content:flex-start;">2.</font><div style="width:100%;display:inline;"><font style="color:#000000;white-space:pre-wrap;font-size:12pt;font-family:Times New Roman;min-width:fit-content;">A Special Retention Award will vest on the third anniversary date of the grant date and, subject to paragraph 3, will be paid to the Participant in Shares on the vesting date or within 90 days thereafter (or, if it is not practicable to make payment by such date, as soon as practicable thereafter, but in no event later than the end of the calendar year in which the vesting date occurs and/or later than the time permitted under Section 409A of the Code).</font></div></div>
 <div style="display:flex;margin-top:12pt;justify-content:flex-start;align-items:baseline;margin-bottom:12pt;min-width:6.667%;text-align:justify;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:6.667%;display:inline-flex;justify-content:flex-start;">3.</font><div style="width:100%;display:inline;"><font style="color:#0000