AK Steel Holding (AKS)

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.

(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

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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 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.

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.