AKS » Topics » ARTICLE 1: INTRODUCTION AND PURPOSE

These excerpts taken from the AKS 10-Q filed Nov 6, 2007.

ARTICLE I: INTRODUCTION AND PURPOSE

AK Steel Corporation hereby amends and restates the AK Steel Corporation Executive Deferred Compensation Plan (“Plan”), effective as of October 18, 2007. The purpose of the Plan is to aid AK Steel Corporation and its subsidiaries and affiliates in attracting and retaining key personnel by providing a vehicle for such employees to accumulate additional retirement savings to supplement the retirement benefits available to them under the qualified retirement plans sponsored by AK Steel Corporation.

The purpose of this amendment and restatement is to bring the Plan into compliance with the requirements of Section 409A of the Code and applicable Treasury Regulations thereunder (referred to collectively as “Section 409A”). The terms of the Plan shall be interpreted in such manner as to be in compliance with the requirements of Section 409A, including the grandfathering provisions thereof. Participants’ accrued benefits under the Plan as of December 31, 2004 shall be grandfathered (within the meaning of Section 409A) and remain subject to the terms and conditions of the Plan as in effect on that date. This amendment and restatement is in no way intended to materially modify (within the meaning of the term “material modification” under Section 409A) the Plan as in effect on December 31, 2004 with respect to Participants’ grandfathered accrued benefits as of such date.

The Plan is an unfunded deferred compensation arrangement maintained by AK Steel Corporation for the purpose of providing supplemental retirement benefits for a select group of management or highly compensated employees within the meaning of sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended

ARTICLE I: INTRODUCTION AND PURPOSE

AK Steel Holding Corporation and AK Steel Corporation (“Company”) hereby amends and restates the AK Steel Corporation Directors’ Deferred Compensation Plan (“Plan”), effective as of October 18, 2007. The purpose of the Plan is to aid the Company in attracting and retaining as members of its Board of Directors individuals whose abilities, experience and judgment can contribute to the continued growth of the Company.

The purpose of this amendment and restatement is to bring the Plan into compliance with the requirements of Section 409A of the Code and applicable Treasury Regulations thereunder (referred to collectively as “Section 409A”). The terms of the Plan shall be interpreted in such manner as to be in compliance with the requirements of Section 409A, including the grandfathering provisions thereof. Participants’ accrued benefits under the Plan as of December 31, 2004 shall be grandfathered (within the meaning of Section 409A) and remain subject to the terms and conditions of the Plan as in effect on that date. This amendment and restatement is in no way intended to materially modify (within the meaning of the term “material modification” under Section 409A) the Plan as in effect on December 31, 2004 with respect to Participants’ grandfathered accrued benefits as of such date.

The Plan is an unfunded deferred compensation arrangement maintained by the Company for the purpose of providing supplemental retirement benefits for a select group of individuals within the meaning of sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended.

ARTICLE 1: INTRODUCTION AND PURPOSE

AK Steel Corporation hereby amends and restates the AK Steel Corporation Executive Minimum and Supplemental Retirement Plan (“Plan”), effective as of October 18, 2007. The purpose of the Plan is to aid the Company and its subsidiaries and affiliates in attracting and retaining key personnel.

The purpose of this amendment and restatement is to bring the Plan into compliance with the requirements of Section 409A of the Code and applicable Treasury Regulations thereunder (referred to collectively as “Section 409A”) and to make certain other changes to the Plan. The terms of the Plan shall be interpreted in such manner as to be in compliance with the requirements of Section 409A, including the grandfathering provisions thereof. With respect to Members whose Vesting Date occurred on or before December 31, 2004, such Members’ accrued benefits under the Prior Plan as of December 31, 2004 shall be grandfathered (within the meaning of Section 409A) and remain subject to the terms and conditions of the Prior Plan. This amendment and restatement is in no way intended to materially modify (within the meaning of the term “material modification” under Section 409A) the Prior Plan with respect to such Members’ grandfathered accrued benefits as of December 31, 2004.

The Plan is an unfunded deferred compensation arrangement maintained by the Company for the purpose of providing supplemental retirement benefits for a select group of management or highly compensated employees within the meaning of Section 201(2) and 301(a)(3) of the Employee Retirement Income Security Act of 1974, as amended. Any obligations under the Plan shall be the joint and several obligations of AK Steel Holding Corporation, the Company and each of their respective subsidiaries and affiliates.

EXCERPTS ON THIS PAGE:

10-Q (3 sections)
Nov 6, 2007

RELATED TOPICS for AKS:

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