AK Steel Holding (AKS)

ARTICLE VIII: PAYMENT OF BENEFITS

8.1 Forms of Payment. A Participant’s Account balance will be paid in a single lump-sum payment.

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8.2 Commencement of Benefits. A Participant’s Account shall be paid to the Participant, or in the case of the Participant’s death, to the Participant’s Beneficiary, within thirty (30) days following the Participant’s Termination Date.

8.3 Distribution upon Disability. If a Participant becomes totally and permanently disabled in the judgment of the Administrator, the balance of the Participant’s Account shall commence to be paid to the Participant within thirty (30) days following the Administrator’s finding of total and permanent disability. Any such finding by the Administrator shall be contained in a writing setting forth the basis for such conclusion, signed by the Administrator and dated to establish the date disability is confirmed for the purposes of this Plan. Qualification for federal social security benefits shall be conclusive proof of qualification for disability benefits under this Plan.

8.4 Unforeseeable Financial Emergency. If a Participant suffers an unforeseeable financial emergency, as defined herein, the Administrator, in its sole discretion, may pay to the Participant only that portion of his Account which the Administrator determines to be necessary to satisfy the emergency need, including any amounts necessary to pay any federal, state or local income taxes reasonably anticipated to result from the distribution. A Participant requesting an emergency payment shall apply for the payment in writing in a form approved by the Administrator and shall provide such additional information as the Administrator may require. For purposes of this paragraph, “unforeseeable emergency” means an immediate and heavy financial need resulting from any of the following:

(a) expenses which are not covered by insurance and which the Participant or his spouse or dependent has incurred as a result of an illness or accident; or

(b) the need to prevent eviction of a Participant from his principal residence or foreclosure on the mortgage of the Participant’s principal residence; or

(c) expenses which are not covered by insurance and which the Participant or his spouse or dependent has incurred as a result of a casualty or natural catastrophe; or

(d) any other extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant which is not covered by insurance and which cannot reasonably be relieved by the liquidation of the Participant’s other assets.

8.5 Withholding. All federal, state or local taxes that the Administrator determines are required to be withheld from any payments made pursuant to this Article VIII shall be withheld by the Company. Each Participant shall be solely responsible for any and all taxes payable on any sums distributed to or on behalf of any Participant under this Plan.

ARTICLE VIII: PAYMENT OF BENEFITS

8.1 Forms of Payment. A Participant’s vested Account balance will be paid in a single lump-sum payment.

8.2 Commencement of Benefits. A Participant’s Account shall be paid to the Participant, or in the case of the Participant’s death, to the Participant’s Beneficiary, within thirty (30) days following the Participant’s Termination Date.

8.3 Distribution upon Disability. If a Participant becomes totally and permanently disabled in the judgment of the Administrator, the balance of the Participant’s Account shall be paid to the Participant within thirty (30) days following the Administrator’s finding of total and permanent disability. The term “totally and permanently disabled” for purposes of this Plan shall have the same meaning as under the AK Steel Corporation Noncontributory Pension Plan, provided however, qualification for federal social security benefits or for long-term disability benefits under the Company’s long-term disability plan shall be conclusive proof of qualification for disability benefits under this Plan. Any such finding by the Administrator shall be contained in a writing setting forth the basis for such conclusion, signed by the Administrator and dated to establish the date disability is confirmed for the purposes of this Plan.

8.4 Unforeseeable Financial Emergency. If a Participant suffers an unforeseeable financial emergency, as defined herein, the Administrator, in its sole discretion, may pay to the Participant only that portion of his Account which the Administrator determines to be necessary to satisfy the emergency need, including any amounts necessary to pay any federal, state or local income taxes reasonably anticipated to result from the distribution. A Participant requesting an emergency payment shall apply for the payment in writing in a form approved by the Administrator and shall provide such additional information as the Administrator may require. For purposes of this paragraph, “unforeseeable emergency” means an immediate and heavy financial need resulting from any of the following:

(a) expenses which are not covered by insurance and which the Participant or his spouse or dependent has incurred as a result of an illness or accident; or

(b) the need to prevent eviction of a Participant from his principal residence or foreclosure on the mortgage of the Participant’s principal residence; or

(c) expenses which are not covered by insurance and which the Participant or his spouse or dependent has incurred as a result of a casualty or natural catastrophe; or

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(d) any other extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant which is not covered by insurance and which cannot reasonably be relieved by the liquidation of the Participant’s other assets.

8.5 Withholding. All federal, state or local taxes that the Administrator determines are required to be withheld from any payments made pursuant to this Article VIII shall be withheld by the Company. Each Participant shall be solely responsible for any and all taxes payable on any sums distributed to or on behalf of any Participant under this Plan.

8.6 Six-Month Waiting Period. Notwithstanding any provision of the Plan to the contrary, with respect to any Participant who on his Termination Date is deemed to be a “specified employee” within the meaning of Section 409A, his benefit under the Plan shall not be paid prior to the earlier of: (i) the expiration of the six-month period measured from the date of his “separation from service” (as defined in Section 409A) with the Company, or (ii) his death. Such Participant shall be entitled to interest on such delayed payment for such six-month period (or shorter period as the case may be), accrued at the average prime rate in effect during such period of delay, which shall be added to his benefit payable under the Plan. The average prime rate of interest for this purpose shall be the average over such period of the daily prime rate of interest published by the Fifth Third Bank, Cincinnati, Ohio or its successors.