SEC Contract Filing

Filing Date: 2024-11-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101_3q24.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<title>Document</title></head><body><div id="i7ef205dc2dcb4dc1a6dedca5b986254a_1"></div><div style="min-height:79.2pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="margin-top:4pt;padding-left:18pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Exhibit 10.1</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">HOWMET AEROSPACE INC.</font></div><div style="padding-left:18pt;padding-right:18pt;text-align:center;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">NON-EMPLOYEE DIRECTOR COMPENSATION POLICY</font></div><div style="padding-left:18pt;padding-right:18pt;text-align:center;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Effective as of January 1, 2025</font></div><div style="margin-bottom:9pt"><font><br></font></div><div style="margin-bottom:14pt;margin-top:14pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:174%;padding-left:10.5pt;text-decoration:underline">General.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%"> This Non-Employee Director Compensation Policy (the &#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%;text-decoration:underline">Policy</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">&#34;), sets forth the cash and equity-based compensation that has been approved by the Board of Directors (the &#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%;text-decoration:underline">Board</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">&#34;) of Howmet Aerospace Inc., a Delaware corporation, (the &#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%;text-decoration:underline">Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">&#34;) as payable to eligible non-employee members of the Board (&#34;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%;text-decoration:underline">Non-Employee Directors</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">&#34;), effective as of January 1, 2025. 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. </font></div><div style="margin-bottom:14pt;margin-top:14pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:174%;padding-left:10.5pt;text-decoration:underline">Cash Compensation.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:174%"> </font></div><div style="margin-bottom:14pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%">(a)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:174%;padding-left:6.91pt;text-decoration:underline">Annual Retainers</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:174%">.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:174%"> Each Non-Employee Director shall be eligible to receive an annual cash retainer of $120,000 for service on the Board. In addition, subject to paragraph 2(b) below, a Non-Employee Director shall receive the following additional annual retainers, as applicable&#58;</font></div><div style="padding-left:53.6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.634%"><tr><td style="width:1.0%"></td><td style="width:59.167%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:38.633%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #dbdbdb;border-top:1pt solid #dbdbdb;padding:2px 1pt 2px 2.85pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Non-Employee Director Position</font></td><td colspan="3" style="border-l