Delaware
(State of incorporation)
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84-2745636
(I.R.S. Employer Identification No.)
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Title of each class
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Trading Symbol
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Name of each exchange on which registered
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Common Stock
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ARNC
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New York Stock Exchange
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Large accelerated filer ☐
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Accelerated filer ☐
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Non-accelerated filer ☑
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Smaller reporting company ☐
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Emerging growth company ☐
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Page
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•
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ParentCo will complete the internal reorganization as a result of which Arconic Rolled Products Corporation will become the holding company for the ParentCo operations comprising, and the entities that will conduct, the Arconic Corporation Businesses;
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•
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ParentCo will change its name to “Howmet Aerospace Inc.”;
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“Arconic Rolled Products Corporation” will change its name to “Arconic Corporation”; and
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•
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using a portion of the net proceeds from one or more financing transactions on or prior to the completion of the distribution, Arconic Corporation will make a cash distribution to ParentCo. The payment to ParentCo will be calculated as the difference between (i) the approximately $1,165 of net proceeds from the aggregate indebtedness and (ii) the difference between a beginning cash balance at the Separation Date of $500 and the amount of cash held by Arconic Corporation Businesses at March 31, 2020 ($72 as of December 31, 2019).
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Aleris
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Hydro (Norway)
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Nanshan (China)
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AMAG (Austria)
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Kaiser Aluminum
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Novelis
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Constellium (Netherlands)
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Kobe (Japan)
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UACJ (Japan)
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Granges (Sweden)
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Country
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Location
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Products
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Brazil
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Itapissuma(1)
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Specialty Foil
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China
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Kunshan
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Sheet and Plate
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Qinhuangdao(2)
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Sheet and Plate
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Hungary
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Székesfehérvár
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Sheet and Plate/Slabs and Billets
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Russia
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Samara
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Sheet and Plate/Extrusions and Forgings
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United Kingdom
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Birmingham
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Plate
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United States
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Davenport, IA
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Sheet and Plate
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Danville, IL
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Sheet and Plate
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Hutchinson, KS
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Sheet and Plate
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Lancaster, PA
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Sheet and Plate
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Alcoa, TN(3)
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Sheet
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San Antonio, TX(4)
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Sheet
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Texarkana, TX(2)(5)
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Slabs
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Constellium (France)
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Otto Fuchs (Germany)
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Unna (Germany)
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Impol (Poland)
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Taber (USA)
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Ye Fong (Taiwan)
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Kaiser (USA)
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UAC (USA/Romania)
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Country
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Location
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Products
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Germany
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Hannover(1)
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Extrusions
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South Korea
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Kyoungnam(2)
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Extrusions
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United States
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Chandler, AZ(1)
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Extrusions
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Lafayette, IN
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Extrusions
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Baltimore, MD(1)
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Extrusions
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Massena, NY(1)
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Extrusions
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•
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North America — Apogee, Oldcastle and YKK
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•
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Europe — Schüco (Germany), Hydro/SAPA (Norway), Reynaers (Belgium) and Corialis (Belgium)
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Composite Material — Alucobond, Alucoil and Alpolic
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Coil Coated Sheet — Euramax, Novelis and Hydro
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Country
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Location
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Products
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Canada
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Lethbridge, Alberta
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Architectural Products and Systems
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France
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Merxheim(1)
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Architectural Products
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United Kingdom
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Runcorn
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Architectural Products and Systems
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United States
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Springdale, AR
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Architectural Products and Systems
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Visalia, CA
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Architectural Products and Systems
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Eastman, GA
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Architectural Products
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Bloomsburg, PA
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Architectural Products and Systems
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Cranberry, PA
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Architectural Products and Systems
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For the Years Ended December 31,
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|||||||
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2019
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2018
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2017
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Rolled products
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77
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%
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75
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%
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75
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%
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Architectural systems
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15
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%
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15
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%
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16
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%
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•
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economic and commercial instability risks, including those caused by sovereign and private debt default, corruption, and changes in local government laws, regulations and policies, such as those related to tariffs, sanctions and trade barriers (including tariffs imposed by the United States as well as retaliatory tariffs
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•
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imposed by China or other foreign entities), taxation, exchange controls, employment regulations and repatriation of assets or earnings;
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•
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geopolitical risks such as political instability, civil unrest, expropriation, nationalization of properties by a government, imposition of sanctions, and renegotiation or nullification of existing agreements;
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•
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war or terrorist activities;
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kidnapping of personnel;
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•
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major public health issues such as an outbreak of a pandemic or epidemic (such as the recent novel strain of coronavirus (“COVID-19”),which has resulted in travel restrictions and shutdown of certain businesses globally, Sudden Acute Respiratory Syndrome, Avian Influenza, H7N9 virus, or the Ebola virus), which could cause disruptions in our operations, workforce, supply chain and/or customer demand;
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•
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difficulties enforcing contractual rights and intellectual property, including a lack of remedies for misappropriation, in certain jurisdictions;
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changes in trade and tax laws that may impact our operations and financial condition and/or result in our customers being subjected to increased taxes, duties and tariffs and reduce their willingness to use our services in countries in which we are currently manufacturing their products;
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rising labor costs;
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labor unrest, including strikes;
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compliance with antitrust and competition regulations;
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compliance with foreign labor laws, which generally provide for increased notice, severance and consultation requirements compared to U.S. laws;
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aggressive, selective or lax enforcement of laws and regulations by national governmental authorities;
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compliance with the Foreign Corrupt Practices Act and other anti-bribery and corruption laws;
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compliance with U.S. laws concerning trade, including the International Traffic in Arms Regulations, the Export Administration Regulations, and the sanctions, regulations and embargoes administered by the U.S. Department of Treasury’s Office of Foreign Assets Control;
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imposition of currency controls; and
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adverse tax laws and audit rulings.
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identify and evolve with emerging technological and broader industry trends in our target end-markets;
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identify and successfully execute on a strategy to remain an essential and sustainable element of our customers’ supply chains;
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fund, develop, manufacture and bring innovative new products and services to market quickly and cost-effectively;
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monitor disruptive technologies and understand customers’ and competitors’ abilities to deploy those disruptive technologies; and
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achieve sufficient return on investment for new products based on capital expenditures and research and development spending.
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have economic or business interests or goals that are inconsistent with or opposed to ours;
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exercise veto rights to block actions that we believe to be in our or the joint venture’s or strategic alliance’s best interests;
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take action contrary to our policies or objectives with respect to investments; or
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as a result of financial or other difficulties, be unable or unwilling to fulfill their obligations under the joint venture, strategic alliance or other agreements, such as contributing capital to expansion or maintenance projects.
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Generally, our working capital requirements and capital for our general corporate purposes, including capital expenditures and acquisitions, have historically been satisfied as part of the corporate-wide cash management policies of ParentCo. Following the completion of the separation, our results of operations and cash flows are likely to be more volatile, and we may need to obtain additional financing from banks, through public offerings or private placements of debt or equity securities, strategic relationships or other arrangements, which may or may not be available and may be more costly.
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•
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Prior to the separation, our business has been operated by ParentCo as part of its broader corporate organization, rather than as an independent company. ParentCo or one of its affiliates performed various corporate functions for us, such as
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Currently, our business is integrated with the other businesses of ParentCo. Historically, we have shared economies of scope and scale in costs, employees, vendor relationships and customer relationships. While we have sought to minimize the impact on us when separating these arrangements, there is no guarantee these arrangements will continue to capture these benefits in the future.
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As a current part of ParentCo, we take advantage of ParentCo’s overall size and scope to obtain more advantageous procurement terms. After the separation, as a standalone company, we may be unable to obtain similar arrangements to the same extent as ParentCo did, or on terms as favorable as those ParentCo obtained, prior to completion of the separation.
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After the completion of the separation, the cost of capital for our business may be higher than ParentCo’s cost of capital prior to the separation.
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Our historical financial information does not reflect the debt that we have incurred and will incur as part of the separation.
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As an independent public company, we will separately become subject to, among other things, the reporting requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the regulations of the NYSE and will be required to prepare our standalone financial statements according to the rules and regulations required by the SEC. These reporting and other obligations will place significant demands on our management and administrative and operational resources. Moreover, to comply with these requirements, we anticipate that we will need to migrate our systems, including information technology systems, implement additional financial and management controls, reporting systems and procedures and hire additional accounting and finance staff. We expect to incur additional annual expenses related to these steps, and those expenses may be significant. If we are unable to implement our financial and management controls, reporting systems, information technology and procedures in a timely and effective fashion, our ability to comply with our financial reporting requirements and other rules that apply to reporting companies under the Exchange Act could be impaired.
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•
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requiring a substantial portion of our cash flow from operations to make interest payments;
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making it more difficult to satisfy debt service and other obligations;
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•
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increasing the risk of a future credit ratings downgrade of our debt, which could increase future debt costs and limit the future availability of debt financing;
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increasing our vulnerability to general adverse economic and industry conditions;
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•
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reducing the cash flow available to fund capital expenditures and other corporate purposes and to grow our business;
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•
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limiting our flexibility in planning for, or reacting to, changes in our business and the industry;
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placing us at a competitive disadvantage relative to our competitors that may not be as highly leveraged with debt; and
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limiting our ability to borrow additional funds as needed or take advantage of business opportunities as they arise, pay cash dividends or repurchase securities.
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make investments, loans, advances, guarantees and acquisitions;
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dispose of assets;
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incur or guarantee additional debt and issue certain disqualified equity interests and preferred stock;
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make certain restricted payments, including a limit on dividends on equity securities or payments to redeem, repurchase or retire equity securities or other indebtedness;
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engage in transactions with affiliates;
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enter into certain restrictive agreements;
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create liens on assets to secure debt; and
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consolidate, merge, sell or otherwise dispose of all or substantially all of our or a subsidiary guarantor’s assets.
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actual or anticipated fluctuations in our operating results;
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•
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changes in earnings estimated by securities analysts or our ability to meet those estimates;
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the operating and stock price performance of comparable companies;
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•
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changes to the regulatory and legal environment under which we operate;
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•
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actual or anticipated fluctuations in commodities prices; and
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•
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domestic and worldwide economic conditions.
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•
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the ability of our remaining directors to fill vacancies on our Board of Directors that do not arise as a result of removal by stockholders;
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•
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limitations on stockholders’ ability to call a special stockholder meeting;
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•
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rules regarding how stockholders may present proposals or nominate directors for election at stockholder meetings; and
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•
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the right of our Board of Directors to issue preferred stock without stockholder approval.
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For the year ended and as of December 31,
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2019
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2018
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2017
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2016
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2015
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||||||||||
Sales
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$
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7,277
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$
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7,442
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$
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6,824
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|
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$
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6,661
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|
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$
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7,046
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Restructuring and other charges
|
87
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(104
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)
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133
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67
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|
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171
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|||||
Net income (loss)
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225
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|
170
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|
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209
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|
|
155
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(60
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)
|
|||||
Net income (loss) attributable to Arconic Corporation
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225
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|
|
170
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|
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209
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|
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155
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|
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(60
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)
|
|||||
Unaudited pro forma earnings per share attributable to Arconic Corporation common shareholders(1):
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||||||||||
Basic
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$
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2.07
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|
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$
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1.56
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|
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$
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1.92
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$
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1.42
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$
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(0.55
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)
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Diluted
|
2.07
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|
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1.56
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|
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1.92
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|
|
1.42
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|
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(0.55
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)
|
|||||
Cash dividends declared per common share
|
*
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|
|
*
|
|
|
*
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|
|
*
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|
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*
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|
|||||
Total assets
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$
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4,741
|
|
|
$
|
4,795
|
|
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$
|
4,902
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|
|
$
|
4,705
|
|
|
$
|
4,627
|
|
Total debt
|
250
|
|
|
250
|
|
|
255
|
|
|
256
|
|
|
253
|
|
|||||
Cash provided from operations
|
457
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|
|
503
|
|
|
182
|
|
|
618
|
|
|
**
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|
|||||
Capital expenditures
|
201
|
|
|
317
|
|
|
241
|
|
|
350
|
|
|
**
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(1)
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For all periods presented, earnings per share was calculated based on the 109,021,376 shares of Arconic Corporation common stock estimated to be distributed on April 1, 2020 in connection with the completion of the Separation and is considered pro forma in nature. This estimate was determined by applying the Separation Ratio to the 436,085,504 shares of ParentCo’s outstanding common stock as of the Record Date. The same number of shares was used to calculate both basic and diluted pro forma earnings per share as Arconic Corporation does not have any common share equivalents.
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2019
|
|
2018
|
|
2017
|
||||||
Cost of goods sold(1)
|
$
|
14
|
|
|
$
|
11
|
|
|
$
|
35
|
|
Selling, general administrative, and other expenses(2)
|
115
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|
|
56
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|
|
120
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|
|||
Research and development expenses
|
11
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|
|
24
|
|
|
28
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|
|||
Provision for depreciation and amortization
|
10
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|
|
10
|
|
|
10
|
|
|||
Restructuring and other charges(3)
|
7
|
|
|
50
|
|
|
6
|
|
|||
Interest expense
|
115
|
|
|
125
|
|
|
162
|
|
|||
Other expenses (income), net(4)
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(6
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)
|
|
(12
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)
|
|
(285
|
)
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(1)
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For all periods presented, amount principally relates to an allocation of expenses for ParentCo’s retained pension and other postretirement benefit obligations associated with closed and sold operations.
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(2)
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In 2019, amount includes an allocation of $40 for costs incurred by ParentCo associated with the proposed separation transaction (see The Proposed Separation above). In 2017, amount includes an allocation of $30 in costs related to ParentCo’s proxy, advisory, and governance-related matters.
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(3)
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In 2018, amount includes an allocation of settlement and curtailment charges and benefits related to several actions taken (lump sum payments and benefit reductions) by ParentCo associated with pension and other postretirement benefit plans.
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(4)
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In 2017, amount includes an allocation of two gains related to ParentCo’s investing and financing activities. Specifically, an allocation of $182 associated with the sale of a portion of ParentCo’s investment in Alcoa Corporation common stock and an allocation of $87 related to an exchange of cash and the remaining portion of ParentCo’s investment in Alcoa Corporation common stock to acquire a portion of ParentCo’s outstanding debt. These amounts were allocated to Arconic Corporation in preparing the accompanying Combined Financial Statements as the Company participates in ParentCo’s centralized treasury function, which includes cash and debt management. As a result, Arconic Corporation benefited from the cash received by ParentCo and/or the reduction of ParentCo debt, including the reduction in related interest cost, in the respective transactions.
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2019
|
|
2018
|
|
2017
|
||||||
Third-party sales*
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$
|
5,609
|
|
|
$
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5,731
|
|
|
$
|
5,125
|
|
Intersegment sales
|
25
|
|
|
15
|
|
|
15
|
|
|||
Total sales
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$
|
5,634
|
|
|
$
|
5,746
|
|
|
$
|
5,140
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Segment operating profit
|
$
|
455
|
|
|
$
|
328
|
|
|
$
|
384
|
|
Third-party aluminum shipments (kmt)*
|
1,390
|
|
|
1,309
|
|
|
1,257
|
|
*
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In 2019, 2018, and 2017, third-party sales included $131, $145, and $133, respectively, and third-party aluminum shipments included 64 kmt, 60 kmt, and 60 kmt, respectively, related to sales to ParentCo’s Howmet Aerospace Businesses. These sales are deemed to be related-party sales and are presented as such on Arconic Corporation’s Statement of Combined Operations.
|
|
2019
|
|
2018
|
|
2017
|
||||||
Third-party sales*
|
$
|
550
|
|
|
$
|
546
|
|
|
$
|
518
|
|
Segment operating profit
|
$
|
(36
|
)
|
|
$
|
1
|
|
|
$
|
34
|
|
Third-party aluminum shipments (kmt)*
|
60
|
|
|
59
|
|
|
59
|
|
*
|
In 2019, 2018, and 2017, third-party sales included $52, $61, and $49, respectively, and third-party aluminum shipments included 7 kmt, 7 kmt, and 6 kmt, respectively, related to sales to ParentCo’s Howmet Aerospace Businesses. These sales are deemed to be related-party sales and are presented as such on Arconic Corporation’s Statement of Combined Operations.
|
|
2019
|
|
2018
|
|
2017
|
||||||
Third-party sales
|
$
|
1,118
|
|
|
$
|
1,140
|
|
|
$
|
1,066
|
|
Segment operating profit
|
$
|
112
|
|
|
$
|
91
|
|
|
$
|
82
|
|
|
2019
|
|
2018
|
|
2017
|
||||||
Total segment operating profit
|
$
|
531
|
|
|
$
|
420
|
|
|
$
|
500
|
|
Unallocated amounts:
|
|
|
|
|
|
|
|
|
|||
Cost allocations(1)
|
(150
|
)
|
|
(101
|
)
|
|
(193
|
)
|
|||
Restructuring and other charges(2)
|
(87
|
)
|
|
104
|
|
|
(133
|
)
|
|||
Other
|
(17
|
)
|
|
(49
|
)
|
|
(42
|
)
|
|||
Combined operating income
|
$
|
277
|
|
|
$
|
374
|
|
|
$
|
132
|
|
Interest expense(2)
|
(115
|
)
|
|
(129
|
)
|
|
(168
|
)
|
|||
Other income (expenses), net(2)
|
15
|
|
|
(4
|
)
|
|
287
|
|
|||
Combined income before income taxes
|
$
|
177
|
|
|
$
|
241
|
|
|
$
|
251
|
|
(1)
|
Cost allocations are composed of an allocation of ParentCo’s general administrative and other expenses related to operating its corporate headquarters and other global administrative facilities, as well as an allocation of ParentCo’s research and development expenses associated with its corporate technical center (see Cost Allocations in Overview above).
|
(2)
|
See same titled sections under Earnings Summary in Results of Operations above for a description of notable changes.
|
|
Total
|
|
2020
|
|
2021-2022
|
|
2023-2024
|
|
Thereafter
|
||||||||||
Operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Raw material purchase obligations
|
$
|
213
|
|
|
$
|
200
|
|
|
$
|
13
|
|
|
—
|
|
|
—
|
|
||
Energy-related purchase obligations
|
51
|
|
|
24
|
|
|
24
|
|
|
3
|
|
|
—
|
|
|||||
Other purchase obligations
|
22
|
|
|
5
|
|
|
11
|
|
|
4
|
|
|
2
|
|
|||||
Operating leases
|
158
|
|
|
38
|
|
|
51
|
|
|
31
|
|
|
38
|
|
|||||
Interest related to debt(1)
|
273
|
|
|
12
|
|
|
24
|
|
|
24
|
|
|
213
|
|
|||||
Estimated minimum required pension funding(2)
|
11
|
|
|
3
|
|
|
5
|
|
|
3
|
|
|
—
|
|
|||||
Other postretirement benefit payments(2)
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||
Layoff and other restructuring payments
|
21
|
|
|
21
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Deferred revenue arrangements
|
6
|
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Uncertain tax positions
|
21
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
21
|
|
|||||
Financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Debt(1)
|
250
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
250
|
|
|||||
Investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Capital projects
|
111
|
|
|
99
|
|
|
12
|
|
|
—
|
|
|
—
|
|
|||||
Totals
|
$
|
1,138
|
|
|
$
|
408
|
|
|
$
|
140
|
|
|
$
|
65
|
|
|
$
|
525
|
|
(1)
|
Subsequent to December 31, 2019, Arconic Corporation incurred $1,200 in indebtedness. See Obligations for Financing Activities below for scheduled annual repayments and Obligations for Operating Activities below for the related interest obligations.
|
(2)
|
Effective January 1, 2020, Arconic Corporation assumed approximately $1,900 in employee benefit plan obligations. See Obligations for Operating Activities below for estimated annual pension contributions and other postretirement benefit payments.
|
|
|
|
|
Pension benefits
|
|
Other postretirement
benefits |
||||||||||||||||||||
|
|
|
|
For the year ended
December 31,
|
|
For the year ended
December 31, |
||||||||||||||||||||
Type of Plan
|
|
Type of Expense
|
|
2019
|
|
2018
|
|
2017
|
|
2019
|
|
2018
|
|
2017
|
||||||||||||
Direct Plans
|
|
Net periodic benefit cost*
|
|
$
|
5
|
|
|
$
|
5
|
|
|
$
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Shared Plans
|
|
Multiemployer contribution expense
|
|
61
|
|
|
67
|
|
|
82
|
|
|
21
|
|
|
21
|
|
|
20
|
|
||||||
Shared Plans
|
|
Cost allocation
|
|
20
|
|
|
20
|
|
|
39
|
|
|
4
|
|
|
5
|
|
|
4
|
|
||||||
|
|
|
|
$
|
86
|
|
|
$
|
92
|
|
|
$
|
126
|
|
|
$
|
26
|
|
|
$
|
26
|
|
|
$
|
24
|
|
*
|
In each of 2019, 2018, and 2017, net periodic benefit cost for pension benefits was comprised of service cost of $3 and non-service cost of $2.
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Sales to unrelated parties
|
|
$
|
7,094
|
|
|
$
|
7,236
|
|
|
$
|
6,642
|
|
Sales to related parties (A)
|
|
183
|
|
|
206
|
|
|
182
|
|
|||
Total Sales (C and D)
|
|
7,277
|
|
|
7,442
|
|
|
6,824
|
|
|||
Cost of goods sold (exclusive of expenses below)
|
|
6,270
|
|
|
6,549
|
|
|
5,866
|
|
|||
Selling, general administrative, and other expenses
|
|
346
|
|
|
288
|
|
|
361
|
|
|||
Research and development expenses
|
|
45
|
|
|
63
|
|
|
66
|
|
|||
Provision for depreciation and amortization
|
|
252
|
|
|
272
|
|
|
266
|
|
|||
Restructuring and other charges (E)
|
|
87
|
|
|
(104
|
)
|
|
133
|
|
|||
Operating income
|
|
277
|
|
|
374
|
|
|
132
|
|
|||
Interest expense (F)
|
|
115
|
|
|
129
|
|
|
168
|
|
|||
Other (income) expenses, net (G)
|
|
(15
|
)
|
|
4
|
|
|
(287
|
)
|
|||
Income before income taxes
|
|
177
|
|
|
241
|
|
|
251
|
|
|||
(Benefit) provision for income taxes (I)
|
|
(48
|
)
|
|
71
|
|
|
42
|
|
|||
Net income
|
|
225
|
|
|
170
|
|
|
209
|
|
|||
Less: Net income attributable to noncontrolling interests
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Net income attributable to Arconic Rolled Products Corporation
|
|
$
|
225
|
|
|
$
|
170
|
|
|
$
|
209
|
|
|
|
Arconic Rolled Products
Corporation
|
|
Noncontrolling
interests
|
|
Total
|
||||||||||||||||||||||||||||||
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
|
2019
|
|
2018
|
|
2017
|
|
2019
|
|
2018
|
|
2017
|
||||||||||||||||||
Net income
|
|
$
|
225
|
|
|
$
|
170
|
|
|
$
|
209
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
225
|
|
|
$
|
170
|
|
|
$
|
209
|
|
Other comprehensive income (loss), net
of tax (K):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Change in unrecognized net actuarial loss and
prior service cost related to pension and other
postretirement benefits
|
|
(11
|
)
|
|
4
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(11
|
)
|
|
4
|
|
|
(4
|
)
|
|||||||||
Foreign currency translation adjustments
|
|
56
|
|
|
(164
|
)
|
|
(214
|
)
|
|
—
|
|
|
—
|
|
|
2
|
|
|
56
|
|
|
(164
|
)
|
|
(212
|
)
|
|||||||||
Total Other comprehensive income (loss), net of
tax
|
|
45
|
|
|
(160
|
)
|
|
(218
|
)
|
|
—
|
|
|
—
|
|
|
2
|
|
|
45
|
|
|
(160
|
)
|
|
(216
|
)
|
|||||||||
Comprehensive income (loss)
|
|
$
|
270
|
|
|
$
|
10
|
|
|
$
|
(9
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2
|
|
|
$
|
270
|
|
|
$
|
10
|
|
|
$
|
(7
|
)
|
December 31,
|
|
2019
|
|
2018
|
||||
Assets
|
|
|
|
|
|
|
||
Current assets:
|
|
|
|
|
|
|
||
Cash and cash equivalents
|
|
$
|
72
|
|
|
$
|
81
|
|
Receivables from customers, less allowances of $2 in both periods (A)
|
|
384
|
|
|
408
|
|
||
Other receivables
|
|
136
|
|
|
127
|
|
||
Inventories (L)
|
|
820
|
|
|
818
|
|
||
Prepaid expenses and other current assets
|
|
28
|
|
|
42
|
|
||
Total current assets
|
|
1,440
|
|
|
1,476
|
|
||
Properties, plants, and equipment, net (M)
|
|
2,744
|
|
|
2,861
|
|
||
Goodwill (N)
|
|
386
|
|
|
385
|
|
||
Operating lease right-of-use assets (O)
|
|
125
|
|
|
—
|
|
||
Deferred income taxes (I)
|
|
14
|
|
|
15
|
|
||
Other noncurrent assets
|
|
32
|
|
|
58
|
|
||
Total assets
|
|
$
|
4,741
|
|
|
$
|
4,795
|
|
Liabilities
|
|
|
|
|
||||
Current liabilities:
|
|
|
|
|
||||
Accounts payable, trade
|
|
$
|
1,061
|
|
|
$
|
1,165
|
|
Accrued compensation and retirement costs
|
|
80
|
|
|
66
|
|
||
Taxes, including income taxes
|
|
21
|
|
|
37
|
|
||
Environmental remediation (T)
|
|
83
|
|
|
69
|
|
||
Operating lease liabilities (O)
|
|
33
|
|
|
—
|
|
||
Other current liabilities
|
|
63
|
|
|
56
|
|
||
Total current liabilities
|
|
1,341
|
|
|
1,393
|
|
||
Long-term debt (P)
|
|
250
|
|
|
250
|
|
||
Deferred income taxes (I)
|
|
87
|
|
|
82
|
|
||
Accrued pension and other postretirement benefits (H)
|
|
64
|
|
|
55
|
|
||
Environmental remediation (T)
|
|
125
|
|
|
170
|
|
||
Operating lease liabilities (O)
|
|
96
|
|
|
—
|
|
||
Other noncurrent liabilities and deferred credits (Q)
|
|
50
|
|
|
168
|
|
||
Total liabilities
|
|
2,013
|
|
|
2,118
|
|
||
Contingencies and commitments (T)
|
|
|
|
|
||||
Equity
|
|
|
|
|
||||
Parent Company net investment (A)
|
|
2,419
|
|
|
2,415
|
|
||
Accumulated other comprehensive income (K)
|
|
295
|
|
|
250
|
|
||
Sub-total equity
|
|
2,714
|
|
|
2,665
|
|
||
Noncontrolling interest
|
|
14
|
|
|
12
|
|
||
Total equity
|
|
2,728
|
|
|
2,677
|
|
||
Total liabilities and equity
|
|
$
|
4,741
|
|
|
$
|
4,795
|
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Operating Activities
|
|
|
|
|
|
|
|
|
|
|||
Net income
|
|
$
|
225
|
|
|
$
|
170
|
|
|
$
|
209
|
|
Adjustments to reconcile net income to cash provided from operations:
|
|
|
|
|
|
|
||||||
Depreciation and amortization
|
|
252
|
|
|
272
|
|
|
266
|
|
|||
Deferred income taxes (I)
|
|
(67
|
)
|
|
(4
|
)
|
|
29
|
|
|||
Restructuring and other charges (E)
|
|
87
|
|
|
(104
|
)
|
|
133
|
|
|||
Net loss (gain) from investing activities—asset sales (G)
|
|
2
|
|
|
4
|
|
|
(267
|
)
|
|||
Net periodic pension benefit cost (H)
|
|
5
|
|
|
5
|
|
|
5
|
|
|||
Stock-based compensation (J)
|
|
40
|
|
|
22
|
|
|
30
|
|
|||
Other
|
|
8
|
|
|
1
|
|
|
(2
|
)
|
|||
Changes in assets and liabilities, excluding effects of acquisitions,
divestitures, and foreign currency translation adjustments:
|
|
|
|
|
|
|
||||||
Decrease (Increase) in receivables
|
|
2
|
|
|
(24
|
)
|
|
(32
|
)
|
|||
(Increase) in inventories
|
|
(5
|
)
|
|
(51
|
)
|
|
(137
|
)
|
|||
Decrease (Increase) in prepaid expenses and other current assets
|
|
10
|
|
|
24
|
|
|
(4
|
)
|
|||
(Decrease) Increase in accounts payable, trade
|
|
(100
|
)
|
|
247
|
|
|
71
|
|
|||
(Decrease) in accrued expenses
|
|
(67
|
)
|
|
(38
|
)
|
|
(51
|
)
|
|||
Increase (Decrease) in taxes, including income taxes
|
|
41
|
|
|
1
|
|
|
(32
|
)
|
|||
Pension contributions (H)
|
|
(3
|
)
|
|
(4
|
)
|
|
(4
|
)
|
|||
Decrease (Increase) in noncurrent assets
|
|
5
|
|
|
(2
|
)
|
|
(14
|
)
|
|||
Increase (Decrease) in noncurrent liabilities
|
|
22
|
|
|
(16
|
)
|
|
(18
|
)
|
|||
Cash provided from operations
|
|
457
|
|
|
503
|
|
|
182
|
|
|||
Financing Activities
|
|
|
|
|
|
|
||||||
Net transfers (to) from Parent Company
|
|
(296
|
)
|
|
(531
|
)
|
|
148
|
|
|||
Distributions to noncontrolling interests
|
|
—
|
|
|
—
|
|
|
(14
|
)
|
|||
Other
|
|
1
|
|
|
(5
|
)
|
|
2
|
|
|||
Cash (used for) provided from financing activities
|
|
(295
|
)
|
|
(536
|
)
|
|
136
|
|
|||
Investing Activities
|
|
|
|
|
|
|
||||||
Capital expenditures
|
|
(201
|
)
|
|
(317
|
)
|
|
(241
|
)
|
|||
Proceeds from the sale of assets and businesses (S)
|
|
31
|
|
|
307
|
|
|
(9
|
)
|
|||
Cash used for investing activities
|
|
(170
|
)
|
|
(10
|
)
|
|
(250
|
)
|
|||
Effect of exchange rate changes on cash and cash equivalents
and restricted cash
|
|
(1
|
)
|
|
(2
|
)
|
|
4
|
|
|||
Net change in cash and cash equivalents and restricted cash
|
|
(9
|
)
|
|
(45
|
)
|
|
72
|
|
|||
Cash and cash equivalents and restricted cash at beginning of year
|
|
81
|
|
|
126
|
|
|
54
|
|
|||
Cash and cash equivalents and restricted cash at end of year
|
|
$
|
72
|
|
|
$
|
81
|
|
|
$
|
126
|
|
|
|
Parent
Company net
investment
|
|
Accumulated
other
comprehensive
income
|
|
Noncontrolling
interests
|
|
Total
equity
|
||||||||
Balance at December 31, 2016
|
|
$
|
2,177
|
|
|
$
|
628
|
|
|
$
|
25
|
|
|
$
|
2,830
|
|
Net income
|
|
209
|
|
|
—
|
|
|
—
|
|
|
209
|
|
||||
Other comprehensive (loss) income (K)
|
|
—
|
|
|
(218
|
)
|
|
2
|
|
|
(216
|
)
|
||||
Change in ParentCo contribution
|
|
198
|
|
|
—
|
|
|
—
|
|
|
198
|
|
||||
Distributions
|
|
—
|
|
|
—
|
|
|
(14
|
)
|
|
(14
|
)
|
||||
Balance at December 31, 2017
|
|
$
|
2,584
|
|
|
$
|
410
|
|
|
$
|
13
|
|
|
$
|
3,007
|
|
Net income
|
|
170
|
|
|
—
|
|
|
—
|
|
|
170
|
|
||||
Other comprehensive loss (K)
|
|
—
|
|
|
(160
|
)
|
|
—
|
|
|
(160
|
)
|
||||
Change in ParentCo contribution
|
|
(339
|
)
|
|
—
|
|
|
—
|
|
|
(339
|
)
|
||||
Other
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
(1
|
)
|
||||
Balance at December 31, 2018
|
|
$
|
2,415
|
|
|
$
|
250
|
|
|
$
|
12
|
|
|
$
|
2,677
|
|
Adoption of accounting standard (B)
|
|
73
|
|
|
—
|
|
|
—
|
|
|
73
|
|
||||
Net income
|
|
225
|
|
|
—
|
|
|
—
|
|
|
225
|
|
||||
Other comprehensive income (K)
|
|
—
|
|
|
45
|
|
|
—
|
|
|
45
|
|
||||
Change in ParentCo contribution
|
|
(294
|
)
|
|
—
|
|
|
—
|
|
|
(294
|
)
|
||||
Other
|
|
—
|
|
|
—
|
|
|
2
|
|
|
2
|
|
||||
Balance at December 31, 2019
|
|
$
|
2,419
|
|
|
$
|
295
|
|
|
$
|
14
|
|
|
$
|
2,728
|
|
|
2019
|
|
2018
|
|
2017
|
||||||
Cost of goods sold(1)
|
$
|
14
|
|
|
$
|
11
|
|
|
$
|
35
|
|
Selling, general administrative, and other expenses(2)
|
115
|
|
|
56
|
|
|
120
|
|
|||
Research and development expenses
|
11
|
|
|
24
|
|
|
28
|
|
|||
Provision for depreciation and amortization
|
10
|
|
|
10
|
|
|
10
|
|
|||
Restructuring and other charges (E)(3)
|
7
|
|
|
50
|
|
|
6
|
|
|||
Interest expense (F)
|
115
|
|
|
125
|
|
|
162
|
|
|||
Other expenses (income), net (G)(4)
|
(6
|
)
|
|
(12
|
)
|
|
(285
|
)
|
(1)
|
For all periods presented, amount principally relates to an allocation of expenses for ParentCo’s retained pension and other postretirement benefit obligations associated with closed and sold operations.
|
(2)
|
In 2019, amount includes an allocation of $40 for costs incurred by ParentCo associated with the proposed separation transaction (see The Proposed Separation above). In 2017, amount includes an allocation of $30 in costs related to ParentCo’s proxy, advisory, and governance-related matters.
|
(3)
|
In 2018, amount includes an allocation of settlement and curtailment charges and benefits related to several actions taken (lump sum payments and benefit reductions) by ParentCo associated with pension and other postretirement benefit plans.
|
(4)
|
In 2017, amount includes an allocation of two gains related to ParentCo’s investing and financing activities. Specifically, an allocation of $182 associated with the sale of a portion of ParentCo’s investment in Alcoa Corporation common stock and an allocation of $87 related to an exchange of cash and the remaining portion of ParentCo’s investment in Alcoa Corporation common stock to acquire a portion of ParentCo’s outstanding debt. These amounts were allocated to Arconic Corporation in preparing the accompanying Combined Financial Statements as the Company participates in ParentCo’s centralized treasury function, which includes cash and debt management. As a result, Arconic Corporation benefited from the cash received by ParentCo and/or the reduction of ParentCo debt, including the reduction in related interest cost, in the respective transactions.
|
|
Structures
|
|
Machinery
and
equipment
|
Rolled Products
|
32
|
|
21
|
Extrusions
|
32
|
|
19
|
Building and Construction Systems
|
24
|
|
18
|
|
Software
|
|
Other
intangible
assets
|
Rolled Products
|
5
|
|
6
|
Extrusions
|
3
|
|
10
|
Building and Construction Systems
|
4
|
|
19
|
For the year ended December 31,
|
|
Rolled
Products
|
|
Extrusions
|
|
Building and
Construction
Systems
|
|
Total
Segments
|
||||||||
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Ground Transportation
|
|
$
|
2,428
|
|
|
$
|
117
|
|
|
$
|
—
|
|
|
$
|
2,545
|
|
Building and Construction
|
|
182
|
|
|
—
|
|
|
1,118
|
|
|
1,300
|
|
||||
Aerospace
|
|
1,016
|
|
|
291
|
|
|
—
|
|
|
1,307
|
|
||||
Industrial Products
|
|
1,069
|
|
|
92
|
|
|
—
|
|
|
1,161
|
|
||||
Packaging
|
|
885
|
|
|
—
|
|
|
—
|
|
|
885
|
|
||||
Other
|
|
29
|
|
|
50
|
|
|
—
|
|
|
79
|
|
||||
Total end-market revenue
|
|
$
|
5,609
|
|
|
$
|
550
|
|
|
$
|
1,118
|
|
|
$
|
7,277
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Ground Transportation
|
|
$
|
2,585
|
|
|
$
|
107
|
|
|
$
|
—
|
|
|
$
|
2,692
|
|
Building and Construction
|
|
217
|
|
|
—
|
|
|
1,140
|
|
|
1,357
|
|
||||
Aerospace
|
|
895
|
|
|
285
|
|
|
—
|
|
|
1,180
|
|
||||
Industrial Products
|
|
994
|
|
|
104
|
|
|
—
|
|
|
1,098
|
|
||||
Packaging
|
|
1,005
|
|
|
—
|
|
|
—
|
|
|
1,005
|
|
||||
Other
|
|
35
|
|
|
50
|
|
|
—
|
|
|
85
|
|
||||
Total end-market revenue
|
|
$
|
5,731
|
|
|
$
|
546
|
|
|
$
|
1,140
|
|
|
$
|
7,417
|
|
2017
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Ground Transportation
|
|
$
|
2,110
|
|
|
$
|
92
|
|
|
$
|
—
|
|
|
$
|
2,202
|
|
Building and Construction
|
|
204
|
|
|
—
|
|
|
1,065
|
|
|
1,269
|
|
||||
Aerospace
|
|
887
|
|
|
273
|
|
|
—
|
|
|
1,160
|
|
||||
Industrial Products
|
|
894
|
|
|
123
|
|
|
—
|
|
|
1,017
|
|
||||
Packaging
|
|
995
|
|
|
—
|
|
|
—
|
|
|
995
|
|
||||
Other
|
|
35
|
|
|
30
|
|
|
1
|
|
|
66
|
|
||||
Total end-market revenue
|
|
$
|
5,125
|
|
|
$
|
518
|
|
|
$
|
1,066
|
|
|
$
|
6,709
|
|
|
Rolled
Products
|
|
Extrusions
|
|
Building and
Construction
Systems
|
|
Total
|
||||||||
2019
|
|
|
|
|
|
|
|
|
|
|
|
||||
Sales:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Third-party sales–unrelated party
|
$
|
5,478
|
|
|
$
|
498
|
|
|
$
|
1,118
|
|
|
$
|
7,094
|
|
Third-party sales–related party
|
131
|
|
|
52
|
|
|
—
|
|
|
183
|
|
||||
Intersegment sales
|
25
|
|
|
3
|
|
|
—
|
|
|
28
|
|
||||
Total sales
|
$
|
5,634
|
|
|
$
|
553
|
|
|
$
|
1,118
|
|
|
$
|
7,305
|
|
Segment operating profit
|
$
|
455
|
|
|
$
|
(36
|
)
|
|
$
|
112
|
|
|
$
|
531
|
|
Supplemental information:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Provision for depreciation and amortization
|
$
|
185
|
|
|
$
|
29
|
|
|
$
|
18
|
|
|
$
|
232
|
|
Restructuring and other charges (E)
|
47
|
|
|
—
|
|
|
33
|
|
|
80
|
|
||||
2018
|
|
|
|
|
|
|
|
|
|
|
|
||||
Sales:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Third-party sales–unrelated party
|
$
|
5,586
|
|
|
$
|
485
|
|
|
$
|
1,140
|
|
|
$
|
7,211
|
|
Third-party sales–related party
|
145
|
|
|
61
|
|
|
—
|
|
|
206
|
|
||||
Intersegment sales
|
15
|
|
|
3
|
|
|
—
|
|
|
18
|
|
||||
Total sales
|
$
|
5,746
|
|
|
$
|
549
|
|
|
$
|
1,140
|
|
|
$
|
7,435
|
|
Segment operating profit
|
$
|
328
|
|
|
$
|
1
|
|
|
$
|
91
|
|
|
$
|
420
|
|
Supplemental information:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Provision for depreciation and amortization
|
$
|
212
|
|
|
$
|
23
|
|
|
$
|
18
|
|
|
$
|
253
|
|
Restructuring and other charges (E)
|
(156
|
)
|
|
—
|
|
|
(3
|
)
|
|
(159
|
)
|
||||
2017
|
|
|
|
|
|
|
|
|
|
|
|
||||
Sales:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Third-party sales–unrelated party
|
$
|
4,992
|
|
|
$
|
469
|
|
|
$
|
1,066
|
|
|
$
|
6,527
|
|
Third-party sales–related party
|
133
|
|
|
49
|
|
|
—
|
|
|
182
|
|
||||
Intersegment sales
|
15
|
|
|
2
|
|
|
1
|
|
|
18
|
|
||||
Total sales
|
$
|
5,140
|
|
|
$
|
520
|
|
|
$
|
1,067
|
|
|
$
|
6,727
|
|
Segment operating profit
|
$
|
384
|
|
|
$
|
34
|
|
|
$
|
82
|
|
|
$
|
500
|
|
Supplemental information:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Provision for depreciation and amortization
|
$
|
205
|
|
|
$
|
22
|
|
|
$
|
16
|
|
|
$
|
243
|
|
Restructuring and other charges (E)
|
73
|
|
|
—
|
|
|
11
|
|
|
84
|
|
||||
|
|
|
|
|
|
|
|
||||||||
2019
|
|
|
|
|
|
|
|
|
|
|
|
||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segment assets
|
$
|
3,603
|
|
|
$
|
463
|
|
|
$
|
481
|
|
|
$
|
4,547
|
|
Supplemental information:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Capital expenditures
|
162
|
|
|
18
|
|
|
9
|
|
|
189
|
|
||||
Goodwill (N)
|
246
|
|
|
71
|
|
|
69
|
|
|
386
|
|
||||
2018
|
|
|
|
|
|
|
|
|
|
|
|
||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Segment assets
|
$
|
3,627
|
|
|
$
|
490
|
|
|
$
|
469
|
|
|
$
|
4,586
|
|
Supplemental information:
|
|
|
|
|
|
|
|
|
|
|
|
||||
Capital expenditures
|
255
|
|
|
32
|
|
|
21
|
|
|
308
|
|
||||
Goodwill (N)
|
245
|
|
|
71
|
|
|
69
|
|
|
385
|
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Sales:
|
|
|
|
|
|
|
|
|
|
|||
Total segment sales
|
|
$
|
7,305
|
|
|
$
|
7,435
|
|
|
$
|
6,727
|
|
Elimination of intersegment sales
|
|
(28
|
)
|
|
(18
|
)
|
|
(18
|
)
|
|||
Other*
|
|
—
|
|
|
25
|
|
|
115
|
|
|||
Combined sales
|
|
$
|
7,277
|
|
|
$
|
7,442
|
|
|
$
|
6,824
|
|
*
|
For all periods presented, the Other amount represents third-party sales generated by the Latin America extrusions business, which was sold in April 2018 (see Note S).
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Income before income taxes:
|
|
|
|
|
|
|
|
|
|
|||
Total segment operating profit
|
|
$
|
531
|
|
|
$
|
420
|
|
|
$
|
500
|
|
Unallocated amounts:
|
|
|
|
|
|
|
|
|
|
|||
Cost allocations (A)
|
|
(150
|
)
|
|
(101
|
)
|
|
(193
|
)
|
|||
Restructuring and other charges (E)
|
|
(87
|
)
|
|
104
|
|
|
(133
|
)
|
|||
Other
|
|
(17
|
)
|
|
(49
|
)
|
|
(42
|
)
|
|||
Combined operating income
|
|
$
|
277
|
|
|
$
|
374
|
|
|
$
|
132
|
|
Interest expense (F)
|
|
(115
|
)
|
|
(129
|
)
|
|
(168
|
)
|
|||
Other income (expenses), net (G)
|
|
15
|
|
|
(4
|
)
|
|
287
|
|
|||
Combined income before income taxes
|
|
$
|
177
|
|
|
$
|
241
|
|
|
$
|
251
|
|
December 31,
|
|
2019
|
|
2018
|
||||
Assets:
|
|
|
|
|
|
|
||
Total segment assets
|
|
$
|
4,547
|
|
|
$
|
4,586
|
|
Unallocated amounts:
|
|
|
|
|
|
|
||
Cash and cash equivalents
|
|
72
|
|
|
81
|
|
||
Corporate fixed assets, net
|
|
103
|
|
|
102
|
|
||
Deferred income taxes (I)
|
|
14
|
|
|
15
|
|
||
Other
|
|
5
|
|
|
11
|
|
||
Combined assets
|
|
$
|
4,741
|
|
|
$
|
4,795
|
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Sales:
|
|
|
|
|
|
|
|
|
|
|||
United States
|
|
$
|
4,760
|
|
|
$
|
4,713
|
|
|
$
|
4,146
|
|
Hungary*
|
|
614
|
|
|
675
|
|
|
608
|
|
|||
Russia*
|
|
512
|
|
|
553
|
|
|
500
|
|
|||
China
|
|
486
|
|
|
487
|
|
|
486
|
|
|||
France
|
|
277
|
|
|
328
|
|
|
293
|
|
|||
United Kingdom
|
|
230
|
|
|
218
|
|
|
213
|
|
|||
Other
|
|
398
|
|
|
468
|
|
|
578
|
|
|||
|
|
$
|
7,277
|
|
|
$
|
7,442
|
|
|
$
|
6,824
|
|
*
|
In all periods presented, sales of a portion of aluminum products from Arconic Corporation’s plant in Russia were completed through the Company’s international selling company located in Hungary.
|
December 31,
|
|
2019
|
|
2018
|
||||
Long-lived assets:
|
|
|
|
|
|
|
||
United States
|
|
$
|
2,018
|
|
|
$
|
2,028
|
|
China
|
|
255
|
|
|
274
|
|
||
Russia
|
|
231
|
|
|
253
|
|
||
Hungary
|
|
100
|
|
|
112
|
|
||
United Kingdom
|
|
84
|
|
|
84
|
|
||
France
|
|
18
|
|
|
22
|
|
||
Other
|
|
38
|
|
|
88
|
|
||
|
|
$
|
2,744
|
|
|
$
|
2,861
|
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net (gain) loss on divestitures of assets and businesses (S)
|
$
|
(20
|
)
|
|
$
|
(152
|
)
|
|
$
|
60
|
|
Asset impairments
|
68
|
|
|
4
|
|
|
43
|
|
|||
Layoff costs
|
30
|
|
|
1
|
|
|
31
|
|
|||
Other*
|
9
|
|
|
53
|
|
|
2
|
|
|||
Reversals of previously recorded layoff and other costs
|
—
|
|
|
(10
|
)
|
|
(3
|
)
|
|||
Restructuring and other charges
|
$
|
87
|
|
|
$
|
(104
|
)
|
|
$
|
133
|
|
*
|
In 2019, 2018, and 2017, Other includes $7, $50, and $6, respectively, related to the allocation of ParentCo’s corporate restructuring charges to Arconic Corporation (see Cost Allocations in Note A).
|
|
Layoff costs
|
|
Other costs
|
|
Total
|
||||||
Reserve balances at December 31, 2016
|
$
|
12
|
|
|
$
|
4
|
|
|
$
|
16
|
|
2017
|
|
|
|
|
|
|
|
|
|||
Cash payments
|
(18
|
)
|
|
(2
|
)
|
|
(20
|
)
|
|||
Restructuring charges
|
31
|
|
|
1
|
|
|
32
|
|
|||
Other(1)
|
(3
|
)
|
|
(1
|
)
|
|
(4
|
)
|
|||
Reserve balances at December 31, 2017
|
22
|
|
|
2
|
|
|
24
|
|
|||
2018
|
|
|
|
|
|
|
|
|
|||
Cash payments
|
(12
|
)
|
|
(1
|
)
|
|
(13
|
)
|
|||
Restructuring charges
|
1
|
|
|
1
|
|
|
2
|
|
|||
Other(1)
|
(10
|
)
|
|
1
|
|
|
(9
|
)
|
|||
Reserve balances at December 31, 2018
|
1
|
|
|
3
|
|
|
4
|
|
|||
2019
|
|
|
|
|
|
|
|
|
|||
Cash payments
|
(12
|
)
|
|
(3
|
)
|
|
(15
|
)
|
|||
Restructuring charges
|
30
|
|
|
2
|
|
|
32
|
|
|||
Other(1)
|
1
|
|
|
(1
|
)
|
|
—
|
|
|||
Reserve balances at December 31, 2019(2)
|
$
|
20
|
|
|
$
|
1
|
|
|
$
|
21
|
|
(1)
|
Other includes reversals of previously recorded restructuring charges and the effects of foreign currency translation.
|
(2)
|
The remaining reserves are expected to be paid in cash during 2020.
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Amount charged to expense
|
|
$
|
115
|
|
|
$
|
129
|
|
|
$
|
168
|
|
Amount capitalized
|
|
12
|
|
|
9
|
|
|
8
|
|
|||
|
|
$
|
127
|
|
|
$
|
138
|
|
|
$
|
176
|
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Interest income
|
|
$
|
(13
|
)
|
|
$
|
(13
|
)
|
|
$
|
(10
|
)
|
Foreign currency (gains) losses, net
|
|
(17
|
)
|
|
17
|
|
|
1
|
|
|||
Net loss (gain) from asset sales
|
|
2
|
|
|
4
|
|
|
(267
|
)
|
|||
Other, net
|
|
13
|
|
|
(4
|
)
|
|
(11
|
)
|
|||
|
|
$
|
(15
|
)
|
|
$
|
4
|
|
|
$
|
(287
|
)
|
|
|
|
|
Pension benefits
|
|
Other postretirement benefits
|
||||||||||||||||||||
|
|
|
|
For the year ended December 31,
|
|
For the year ended December 31,
|
||||||||||||||||||||
Type of Plan
|
|
Type of Expense
|
|
2019
|
|
2018
|
|
2017
|
|
2019
|
|
2018
|
|
2017
|
||||||||||||
Direct Plans
|
|
Net periodic benefit cost
|
|
$
|
5
|
|
|
$
|
5
|
|
|
$
|
5
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Shared Plans
|
|
Multiemployer contribution
|
|
61
|
|
|
67
|
|
|
82
|
|
|
21
|
|
|
21
|
|
|
20
|
|
||||||
Shared Plans
|
|
Cost allocation
|
|
20
|
|
|
20
|
|
|
39
|
|
|
4
|
|
|
5
|
|
|
4
|
|
||||||
|
|
|
|
$
|
86
|
|
|
$
|
92
|
|
|
$
|
126
|
|
|
$
|
25
|
|
|
$
|
26
|
|
|
$
|
24
|
|
|
|
Pension benefits
|
||||||
December 31,
|
|
2019
|
|
2018
|
||||
Change in benefit obligation
|
|
|
|
|
|
|
||
Benefit obligation at beginning of year
|
|
$
|
122
|
|
|
$
|
134
|
|
Service cost
|
|
3
|
|
|
3
|
|
||
Interest cost
|
|
4
|
|
|
4
|
|
||
Actuarial losses (gains)
|
|
17
|
|
|
(5
|
)
|
||
Benefits paid
|
|
(5
|
)
|
|
(7
|
)
|
||
Foreign currency translation impact
|
|
1
|
|
|
(7
|
)
|
||
Benefit obligation at end of year
|
|
$
|
142
|
|
|
$
|
122
|
|
Change in plan assets
|
|
|
|
|
|
|
||
Fair value of plan assets at beginning of year
|
|
$
|
70
|
|
|
$
|
79
|
|
Actual return on plan assets
|
|
7
|
|
|
(3
|
)
|
||
Employer contributions
|
|
3
|
|
|
4
|
|
||
Benefits paid
|
|
(4
|
)
|
|
(5
|
)
|
||
Foreign currency translation impact
|
|
3
|
|
|
(5
|
)
|
||
Fair value of plan assets at end of year
|
|
$
|
79
|
|
|
$
|
70
|
|
Funded status
|
|
$
|
(63
|
)
|
|
$
|
(52
|
)
|
Amounts recognized in the Combined Balance Sheet consist of:
|
|
|
|
|
|
|
||
Noncurrent assets
|
|
$
|
2
|
|
|
$
|
2
|
|
Current liabilities
|
|
(2
|
)
|
|
(1
|
)
|
||
Noncurrent liabilities
|
|
(63
|
)
|
|
(53
|
)
|
||
Net amount recognized
|
|
$
|
(63
|
)
|
|
$
|
(52
|
)
|
Amounts recognized in Accumulated Other Comprehensive Income consist of:
|
|
|
|
|
|
|
||
Net actuarial loss, before tax effect
|
|
$
|
58
|
|
|
$
|
45
|
|
Other changes in plan assets and benefit obligations recognized in Other
Comprehensive Income consist of:
|
|
|
|
|
|
|
||
Net actuarial loss (gain)
|
|
$
|
16
|
|
|
$
|
(3
|
)
|
Amortization of accumulated net actuarial loss
|
|
(3
|
)
|
|
(3
|
)
|
||
Total, before tax effect
|
|
$
|
13
|
|
|
$
|
(6
|
)
|
|
|
|
|
|
|
|
Pension benefits
|
||||||
|
|
2019
|
|
2018
|
||||
The projected benefit obligation and accumulated benefit obligation for all defined benefit
pension plans was as follows:
|
|
|
|
|
|
|
||
Projected benefit obligation
|
|
$
|
142
|
|
|
$
|
122
|
|
Accumulated benefit obligation
|
|
133
|
|
|
115
|
|
||
The aggregate projected benefit obligation and fair value of plan assets for pension plans
with projected benefit obligations in excess of plan assets was as follows:
|
|
|
|
|
|
|
||
Projected benefit obligation
|
|
123
|
|
|
104
|
|
||
Fair value of plan assets
|
|
57
|
|
|
50
|
|
||
The aggregate accumulated benefit obligation and fair value of plan assets for pension
plans with accumulated benefit obligations in excess of plan assets was as follows:
|
|
|
|
|
|
|
||
Accumulated benefit obligation
|
|
113
|
|
|
98
|
|
||
Fair value of plan assets
|
|
57
|
|
|
50
|
|
|
|
Pension benefits
|
||||||||||
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Service cost
|
|
$
|
3
|
|
|
$
|
3
|
|
|
$
|
3
|
|
Interest cost
|
|
4
|
|
|
4
|
|
|
4
|
|
|||
Expected return on plan assets
|
|
(5
|
)
|
|
(5
|
)
|
|
(5
|
)
|
|||
Recognized net actuarial loss(1)
|
|
3
|
|
|
3
|
|
|
3
|
|
|||
Net periodic benefit cost(2)
|
|
$
|
5
|
|
|
$
|
5
|
|
|
$
|
5
|
|
(1)
|
In 2020, the Company expects to recognize $4 in net periodic benefit cost for the amortization of the accumulated net actuarial loss (see Note U).
|
(2)
|
Service cost was included within Cost of goods sold and all other cost components were included in Other (income) expenses, net on the accompanying Statement of Combined Operations.
|
|
Benefit obligations
|
|
Net periodic benefit cost
|
|||||||||||
|
December 31,
|
|
For the year ended December 31,
|
|||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
2017
|
|||||
Discount rate
|
2.29
|
%
|
|
3.12
|
%
|
|
3.12
|
%
|
|
2.94
|
%
|
|
3.26
|
%
|
Rate of compensation increase
|
3.20
|
|
|
3.42
|
|
|
3.42
|
|
|
3.33
|
|
|
3.31
|
|
Expected long-term rate of return on plan assets
|
—
|
|
|
—
|
|
|
6.73
|
|
|
6.72
|
|
|
6.76
|
|
|
|
|
|
Plan assets
at December 31, |
||||
Asset class
|
|
Policy range
|
|
2019
|
|
2018
|
||
Equities
|
|
20 – 50%
|
|
42
|
%
|
|
40
|
%
|
Fixed income
|
|
20 – 50%
|
|
38
|
|
|
40
|
|
Other investments
|
|
15 – 30%
|
|
20
|
|
|
20
|
|
Total
|
|
|
|
100
|
%
|
|
100
|
%
|
December 31,
|
|
2019
|
|
2018
|
||||
Equity securities(1)
|
|
$
|
33
|
|
|
$
|
28
|
|
Fixed income:
|
|
|
|
|
|
|
||
Intermediate and long duration government/credit(2)
|
|
$
|
26
|
|
|
$
|
23
|
|
Other
|
|
—
|
|
|
1
|
|
||
|
|
$
|
26
|
|
|
$
|
24
|
|
Other investments(3):
|
|
|
|
|
|
|
||
Real estate
|
|
$
|
8
|
|
|
$
|
7
|
|
Other
|
|
8
|
|
|
7
|
|
||
|
|
$
|
16
|
|
|
$
|
14
|
|
Net asset value sub-total
|
|
$
|
75
|
|
|
$
|
66
|
|
Other fixed income
|
|
4
|
|
|
4
|
|
||
Total
|
|
$
|
79
|
|
|
$
|
70
|
|
(1)
|
Equity securities consist of the plans’ share of commingled funds that are invested in the stock of publicly-traded companies.
|
(2)
|
Intermediate and long duration government/credit securities consist of institutional funds that are invested in provincial bonds.
|
(3)
|
Other investments consist of both institutional funds that are invested in global real estate and a relative value multi-strategy hedge fund.
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
United States
|
|
$
|
126
|
|
|
$
|
171
|
|
|
$
|
264
|
|
Foreign
|
|
51
|
|
|
70
|
|
|
(13
|
)
|
|||
|
|
$
|
177
|
|
|
$
|
241
|
|
|
$
|
251
|
|
For the year ended December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Current:
|
|
|
|
|
|
|
|
|
|
|||
Federal
|
|
$
|
—
|
|
|
$
|
47
|
|
|
$
|
(7
|
)
|
Foreign
|
|
16
|
|
|
20
|
|
|
17
|
|
|||
State and local
|
|
3
|
|
|
8
|
|
|
3
|
|
|||
|
|
19
|
|
|
75
|
|
|
13
|
|
|||
Deferred:
|
|
|
|
|
|
|
|
|
|
|||
Federal
|
|
(70
|
)
|
|
(13
|
)
|
|
(1
|
)
|
|||
Foreign
|
|
11
|
|
|
9
|
|
|
28
|
|
|||
State and local
|
|
(8
|
)
|
|
—
|
|
|
2
|
|
|||
|
|
(67
|
)
|
|
(4
|
)
|
|
29
|
|
|||
Total
|
|
$
|
(48
|
)
|
|
$
|
71
|
|
|
$
|
42
|
|
|
|
|
|
|
|
|
(1)
|
In 2019, a net tax benefit was recognized related to a U.S. tax election which caused the deemed liquidation of a foreign subsidiary's assets into its U.S. tax parent.
|
(2)
|
In December 2017, a $50 tax benefit was recorded with respect to the enactment of the Tax Cuts and Jobs Act of 2017 (the “2017 Act”).
|
|
|
2019
|
|
2018
|
||||||||||||
December 31,
|
|
Deferred
tax
assets
|
|
Deferred
tax
liabilities
|
|
Deferred
tax
assets
|
|
Deferred
tax
liabilities
|
||||||||
Depreciation
|
|
$
|
15
|
|
|
$
|
213
|
|
|
$
|
23
|
|
|
$
|
185
|
|
Employee benefits
|
|
43
|
|
|
—
|
|
|
33
|
|
|
—
|
|
||||
Loss provisions
|
|
53
|
|
|
—
|
|
|
61
|
|
|
—
|
|
||||
Deferred income/expense
|
|
8
|
|
|
3
|
|
|
7
|
|
|
3
|
|
||||
Tax loss carryforwards
|
|
115
|
|
|
—
|
|
|
109
|
|
|
—
|
|
||||
Operating lease right-of-use asset and liabilities
|
|
33
|
|
|
33
|
|
|
—
|
|
|
—
|
|
||||
Other
|
|
32
|
|
|
10
|
|
|
6
|
|
|
11
|
|
||||
|
|
$
|
299
|
|
|
$
|
259
|
|
|
$
|
239
|
|
|
$
|
199
|
|
Valuation allowance
|
|
(113
|
)
|
|
—
|
|
|
(107
|
)
|
|
—
|
|
||||
|
|
$
|
186
|
|
|
$
|
259
|
|
|
$
|
132
|
|
|
$
|
199
|
|
December 31, 2019
|
|
Expires
within
10 years
|
|
Expires
within
11-12 years
|
|
No
Expiration(1)
|
|
Other(2)
|
|
Total
|
||||||||||
Tax loss carryforwards
|
|
$
|
55
|
|
|
$
|
4
|
|
|
$
|
56
|
|
|
$
|
—
|
|
|
$
|
115
|
|
Other
|
|
—
|
|
|
—
|
|
|
19
|
|
|
165
|
|
|
184
|
|
|||||
Valuation allowance
|
|
(51
|
)
|
|
(1
|
)
|
|
(61
|
)
|
|
—
|
|
|
(113
|
)
|
|||||
|
|
$
|
4
|
|
|
$
|
3
|
|
|
$
|
14
|
|
|
$
|
165
|
|
|
$
|
186
|
|
(1)
|
Deferred tax assets with no expiration may still have annual limitations on utilization.
|
(2)
|
Other represents deferred tax assets whose expiration is dependent upon the reversal of the underlying temporary difference. A substantial amount of Other relates to (i) employee benefits that will become deductible for tax purposes over an extended period of time as contributions are made to employee benefit plans and payments are made to retirees, (ii) fixed assets which are deductible for tax purposes according to tax depreciation methodologies, (iii) and accruals and reserves, which are typically deductible for tax purposes during the period payments are made, which can vary depending on the nature of the item.
|
December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Balance at beginning of year
|
|
$
|
107
|
|
|
$
|
103
|
|
|
$
|
88
|
|
Establishment of new allowances(1)
|
|
—
|
|
|
—
|
|
|
3
|
|
|||
Net change to existing allowances(2)
|
|
18
|
|
|
7
|
|
|
7
|
|
|||
Release of allowances
|
|
(11
|
)
|
|
—
|
|
|
—
|
|
|||
Foreign currency translation
|
|
(1
|
)
|
|
(3
|
)
|
|
5
|
|
|||
Balance at end of year
|
|
$
|
113
|
|
|
$
|
107
|
|
|
$
|
103
|
|
(1)
|
This line item reflects valuation allowances initially established as a result of a change in management’s judgment regarding the realizability of deferred tax assets.
|
(2)
|
This line item reflects movements in previously established valuation allowances, which increase or decrease as the related deferred tax assets increase or decrease. Such movements occur as a result of remeasurement due to a tax rate change and
|
December 31,
|
|
2019
|
|
2018
|
|
2017
|
||||||
Balance at beginning of year
|
|
$
|
18
|
|
|
$
|
23
|
|
|
$
|
—
|
|
Additions for tax positions of the current year
|
|
—
|
|
|
—
|
|
|
23
|
|
|||
Additions for tax positions of prior years
|
|
4
|
|
|
—
|
|
|
—
|
|
|||
Reductions for tax positions of prior years
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|||
Foreign currency translation
|
|
(1
|
)
|
|
(1
|
)
|
|
—
|
|
|||
Balance at end of year
|
|
$
|
21
|
|
|
$
|
18
|
|
|
$
|
23
|
|
|
|
Stock options
|
|
Stock units
|
||||||||||
|
|
Number of
options
|
|
Weighted
average
exercise price
|
|
Number of
units
|
|
Weighted
average FMV
per unit
|
||||||
Outstanding, January 1, 2019
|
|
1,614,320
|
|
|
$
|
24.93
|
|
|
1,379,722
|
|
|
$
|
21.18
|
|
Granted
|
|
—
|
|
|
—
|
|
|
590,000
|
|
|
20.95
|
|
||
Exercised
|
|
(583,126
|
)
|
|
21.38
|
|
|
—
|
|
|
—
|
|
||
Converted
|
|
—
|
|
|
—
|
|
|
(482,847
|
)
|
|
15.48
|
|
||
Expired or forfeited
|
|
(91,585
|
)
|
|
25.56
|
|
|
(124,148
|
)
|
|
22.00
|
|
||
Performance share adjustment
|
|
—
|
|
|
—
|
|
|
(3,320
|
)
|
|
27.34
|
|
||
Other
|
|
129,686
|
|
|
26.94
|
|
|
59,390
|
|
|
21.07
|
|
||
Outstanding, December 31, 2019
|
|
1,069,295
|
|
|
27.05
|
|
|
1,418,797
|
|
|
22.91
|
|
|
|
2019
|
|
2018
|
|
2017
|
||||||
Pension and other postretirement benefits (H)
|
|
|
|
|
|
|
|
|
|
|||
Balance at beginning of period
|
|
$
|
(32
|
)
|
|
$
|
(36
|
)
|
|
$
|
(32
|
)
|
Other comprehensive (loss) income:
|
|
|
|
|
|
|
|
|
|
|||
Unrecognized net actuarial loss and prior service cost
|
|
(16
|
)
|
|
1
|
|
|
(8
|
)
|
|||
Tax benefit
|
|
3
|
|
|
1
|
|
|
2
|
|
|||
Total Other comprehensive (loss) income before reclassifications, net
of tax
|
|
(13
|
)
|
|
2
|
|
|
(6
|
)
|
|||
Amortization of net actuarial loss and prior service cost(1)
|
|
3
|
|
|
3
|
|
|
3
|
|
|||
Tax expense(2)
|
|
(1
|
)
|
|
(1
|
)
|
|
(1
|
)
|
|||
Total amount reclassified from Accumulated other comprehensive
loss, net of tax(4)
|
|
2
|
|
|
2
|
|
|
2
|
|
|||
Total Other comprehensive (loss) income
|
|
(11
|
)
|
|
4
|
|
|
(4
|
)
|
|||
Balance at end of period
|
|
$
|
(43
|
)
|
|
$
|
(32
|
)
|
|
$
|
(36
|
)
|
Foreign currency translation
|
|
|
|
|
|
|
|
|
|
|||
Balance at beginning of period
|
|
$
|
282
|
|
|
$
|
446
|
|
|
$
|
660
|
|
Other comprehensive income (loss)(3)
|
|
56
|
|
|
(164
|
)
|
|
(214
|
)
|
|||
Balance at end of period
|
|
$
|
338
|
|
|
$
|
282
|
|
|
$
|
446
|
|
Accumulated other comprehensive income
|
|
$
|
295
|
|
|
$
|
250
|
|
|
$
|
410
|
|
(1)
|
These amounts were included in the non-service component of net periodic benefit cost for pension and other postretirement benefits (see Note H).
|
(2)
|
These amounts were included in Provision for income taxes on the accompanying Statement of Combined Operations.
|
(3)
|
In all periods presented, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.
|
(4)
|
A positive amount indicates a corresponding charge to earnings and a negative amount indicates a corresponding benefit to earnings. These amounts were reflected on the accompanying Statement of Combined Operations in the line items indicated in footnotes 1 through 3.
|
December 31,
|
|
2019
|
|
2018
|
||||
Finished goods
|
|
$
|
237
|
|
|
$
|
235
|
|
Work-in-process
|
|
738
|
|
|
812
|
|
||
Purchased raw materials
|
|
85
|
|
|
79
|
|
||
Operating supplies
|
|
69
|
|
|
65
|
|
||
|
|
1,129
|
|
|
1,191
|
|
||
LIFO reserve
|
|
(309
|
)
|
|
(373
|
)
|
||
|
|
$
|
820
|
|
|
$
|
818
|
|
December 31,
|
|
2019
|
|
2018
|
||||
Land and land rights
|
|
$
|
27
|
|
|
$
|
27
|
|
Structures:
|
|
|
|
|
|
|
||
Rolled Products
|
|
1,057
|
|
|
1,068
|
|
||
Extrusions
|
|
153
|
|
|
152
|
|
||
Building and Construction Systems
|
|
95
|
|
|
96
|
|
||
Other
|
|
15
|
|
|
24
|
|
||
|
|
1,320
|
|
|
1,340
|
|
||
Machinery and equipment:
|
|
|
|
|
|
|
||
Rolled Products
|
|
4,661
|
|
|
4,629
|
|
||
Extrusions
|
|
539
|
|
|
537
|
|
||
Building and Construction Systems
|
|
201
|
|
|
191
|
|
||
Other
|
|
147
|
|
|
164
|
|
||
|
|
5,548
|
|
|
5,521
|
|
||
|
|
6,895
|
|
|
6,888
|
|
||
Less: accumulated depreciation and amortization
|
|
4,466
|
|
|
4,341
|
|
||
|
|
2,429
|
|
|
2,547
|
|
||
Construction work-in-progress
|
|
315
|
|
|
314
|
|
||
|
|
$
|
2,744
|
|
|
$
|
2,861
|
|
|
Rolled
Products
|
|
Extrusions
|
|
Building and
Construction
Systems
|
|
Other*
|
|
Total
|
||||||||||
Balances at December 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Goodwill
|
$
|
252
|
|
|
$
|
71
|
|
|
$
|
99
|
|
|
$
|
25
|
|
|
$
|
447
|
|
Accumulated impairment losses
|
—
|
|
|
—
|
|
|
(28
|
)
|
|
(25
|
)
|
|
(53
|
)
|
|||||
Goodwill, net
|
252
|
|
|
71
|
|
|
71
|
|
|
—
|
|
|
394
|
|
|||||
Translation
|
(7
|
)
|
|
—
|
|
|
(2
|
)
|
|
—
|
|
|
(9
|
)
|
|||||
Balances at December 31, 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Goodwill
|
245
|
|
|
71
|
|
|
97
|
|
|
—
|
|
|
413
|
|
|||||
Accumulated impairment losses
|
—
|
|
|
—
|
|
|
(28
|
)
|
|
—
|
|
|
(28
|
)
|
|||||
Goodwill, net
|
245
|
|
|
71
|
|
|
69
|
|
|
—
|
|
|
385
|
|
|||||
Translation
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|||||
Balances at December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Goodwill
|
246
|
|
|
71
|
|
|
97
|
|
|
—
|
|
|
414
|
|
|||||
Accumulated impairment losses
|
—
|
|
|
—
|
|
|
(28
|
)
|
|
—
|
|
|
(28
|
)
|
|||||
Goodwill, net
|
$
|
246
|
|
|
$
|
71
|
|
|
$
|
69
|
|
|
$
|
—
|
|
|
$
|
386
|
|
*
|
Other represents activity related to Arconic Corporation’s Latin America extrusions business, which is reflected in Corporate. Arconic Corporation sold this business in April 2018 (see Note S).
|
December 31, 2019
|
|
Gross
carrying
amount
|
|
Accumulated
amortization
|
|
Net carrying
amount
|
||||||
Computer software
|
|
$
|
193
|
|
|
$
|
(177
|
)
|
|
$
|
16
|
|
Patents and licenses
|
|
28
|
|
|
(28
|
)
|
|
—
|
|
|||
Other
|
|
21
|
|
|
(12
|
)
|
|
9
|
|
|||
Total other intangible assets
|
|
$
|
242
|
|
|
$
|
(217
|
)
|
|
$
|
25
|
|
December 31, 2018
|
|
Gross
carrying
amount
|
|
Accumulated
amortization
|
|
Net carrying
amount
|
||||||
Computer software
|
|
$
|
194
|
|
|
$
|
(172
|
)
|
|
$
|
22
|
|
Patents and licenses
|
|
28
|
|
|
(28
|
)
|
|
—
|
|
|||
Other
|
|
34
|
|
|
(14
|
)
|
|
20
|
|
|||
Total other intangible assets
|
|
$
|
256
|
|
|
$
|
(214
|
)
|
|
$
|
42
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||
2019
|
$
|
—
|
|
|
$
|
34
|
|
2020
|
38
|
|
|
28
|
|
||
2021
|
29
|
|
|
22
|
|
||
2022
|
22
|
|
|
17
|
|
||
2023
|
17
|
|
|
14
|
|
||
2024
|
14
|
|
|
13
|
|
||
Thereafter
|
38
|
|
|
30
|
|
||
Total lease payments
|
$
|
158
|
|
|
$
|
158
|
|
Less: imputed interest
|
29
|
|
|
|
|||
Present value of lease liabilities
|
$
|
129
|
|
|
|
December 31,
|
|
2019
|
|
2018
|
||||
Sale-leaseback financing obligation
|
|
$
|
—
|
|
|
$
|
119
|
|
Accrued compensation and retirement costs
|
|
45
|
|
|
38
|
|
||
Other
|
|
5
|
|
|
11
|
|
||
|
|
$
|
50
|
|
|
$
|
168
|
|
|
2019
|
|
2018
|
|
2017
|
||||||
Interest, net of amount capitalized*
|
$
|
107
|
|
|
$
|
120
|
|
|
$
|
146
|
|
Income taxes, net of amount refunded
|
$
|
29
|
|
|
24
|
|
|
37
|
|
*
|
Amount includes cash paid by ParentCo related to interest expense allocated to Arconic Corporation (see Cost Allocations in Note A).
|
|
First
|
|
Second
|
|
Third
|
|
Fourth(1)
|
|
Year
|
||||||||||
2019
|
|
|
|
|
|
|
|
|
|
||||||||||
Sales
|
$
|
1,841
|
|
|
$
|
1,923
|
|
|
$
|
1,805
|
|
|
$
|
1,708
|
|
|
$
|
7,277
|
|
Net income (loss)
|
$
|
41
|
|
|
$
|
5
|
|
|
$
|
(7
|
)
|
|
$
|
186
|
|
|
$
|
225
|
|
Net income (loss) attributable to Arconic Corporation
|
$
|
41
|
|
|
$
|
5
|
|
|
$
|
(7
|
)
|
|
$
|
186
|
|
|
$
|
225
|
|
Pro forma earnings per share attributable to Arconic Corporation common shareholders(2):
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
$
|
0.38
|
|
|
$
|
0.04
|
|
|
$
|
(0.07
|
)
|
|
$
|
1.71
|
|
|
$
|
2.07
|
|
Diluted
|
$
|
0.38
|
|
|
$
|
0.04
|
|
|
$
|
(0.07
|
)
|
|
$
|
1.71
|
|
|
$
|
2.07
|
|
2018
|
|
|
|
|
|
|
|
|
|
||||||||||
Sales
|
$
|
1,836
|
|
|
$
|
1,915
|
|
|
$
|
1,882
|
|
|
$
|
1,809
|
|
|
$
|
7,442
|
|
Net income
|
$
|
31
|
|
|
$
|
10
|
|
|
$
|
30
|
|
|
$
|
99
|
|
|
$
|
170
|
|
Net income attributable to Arconic Corporation
|
$
|
31
|
|
|
$
|
10
|
|
|
$
|
30
|
|
|
$
|
99
|
|
|
$
|
170
|
|
Pro forma earnings per share attributable to Arconic Corporation common shareholders(2):
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
$
|
0.29
|
|
|
$
|
0.09
|
|
|
$
|
0.28
|
|
|
$
|
0.91
|
|
|
$
|
1.56
|
|
Diluted
|
$
|
0.29
|
|
|
$
|
0.09
|
|
|
$
|
0.28
|
|
|
$
|
0.91
|
|
|
$
|
1.56
|
|
Name
|
|
Age
|
|
Position
|
Timothy D. Myers
|
|
54
|
|
President (Chief Executive Officer designate)
|
Erick R. Asmussen
|
|
53
|
|
Executive Vice President and Chief Financial Officer
|
Mary E. Zik
|
|
48
|
|
Vice President, Controller
|
Name
|
|
Age
|
|
Position
|
Melissa M. Miller
|
|
48
|
|
Executive Vice President and Chief Human Resources Officer
|
Diana C. Toman
|
|
41
|
|
Executive Vice President, Chief Legal Officer and Secretary
|
Mark J. Vrablec
|
|
59
|
|
Executive Vice President and Chief Commercial Officer
|
Name
|
|
Age
|
|
Position
|
Timothy D. Myers
|
|
54
|
|
Director and Chief Executive Officer
|
Christopher L. Ayers
|
|
53
|
|
Director
|
Name
|
|
Age
|
|
Position
|
Frederick “Fritz” A. Henderson
|
|
61
|
|
Chairman
|
William F. Austen
|
|
61
|
|
Director
|
Margaret “Peg” S. Billson
|
|
58
|
|
Director
|
Austin G. Camporin
|
|
37
|
|
Director
|
Jacques Croisetiere
|
|
65
|
|
Director
|
Elmer L. Doty
|
|
65
|
|
Director
|
Carol S. Eicher
|
|
61
|
|
Director
|
E. Stanley O’Neal
|
|
68
|
|
Director
|
Jeffrey Stafeil
|
|
50
|
|
Director
|
|
Audit
|
|
Compensation
and Benefits
|
|
Finance
|
|
Governance
and
Nominating
|
William F. Austen*
|
ü
|
|
Chair
|
|
ü
|
|
|
Christopher L. Ayers*
|
ü
|
|
|
|
ü
|
|
|
Margaret “Peg” S. Billson*
|
|
|
ü
|
|
|
|
|
Austin G. Camporin*
|
|
|
|
|
ü
|
|
|
Jacques Croisetiere*
|
Chair
|
|
|
|
Chair
|
|
|
Elmer L. Doty
|
|
|
|
|
|
|
|
Carol S. Eicher*
|
|
|
|
|
|
|
ü
|
Frederick “Fritz” A. Henderson*
|
|
|
|
|
|
|
ü
|
Timothy D. Myers
|
|
|
|
|
|
|
|
E. Stanley O’Neal*
|
|
|
ü
|
|
|
|
Chair
|
Jeffrey Stafeil*
|
ü
|
|
|
|
ü
|
|
|
COMMITTEE
|
|
RESPONSIBILITIES
|
Audit Committee
|
|
• Oversees the integrity of the financial statements and internal controls, including review of the scope and the results of the audits of the internal and independent auditors
• Appoints the independent auditors and evaluates their independence and performance
• Reviews the organization, performance and adequacy of the internal audit function
• Pre-approves all audit, audit-related, tax and other services to be provided by the independent auditors
• Oversees Arconic Corporation’s compliance with legal, ethical and regulatory requirements
• Reviews employee retirement plan assets and liabilities
• Discusses with management and the auditors the policies with respect to risk assessment and risk management, including major financial risk exposures
|
Compensation and Benefits Committee
|
|
• Establishes the Chief Executive Officer’s compensation for Board ratification, based upon an evaluation of performance in light of approved goals and objectives
• Reviews and approves the compensation of Arconic Corporation’s officers
• Oversees the implementation and administration of Arconic Corporation’s compensation and benefits plans, including pension, savings, incentive compensation and equity-based plans
• Reviews and approves general compensation and benefit policies
• Approves the Compensation Discussion and Analysis for inclusion in the proxy statement
• Has the sole authority to retain and terminate a compensation consultant, as well as to approve the consultant’s fees and other terms of engagement
|
Finance Committee
|
|
Reviews and provides advice and counsel to the Board regarding Arconic Corporation’s:
|
|
|
• capital structure;
• financing transactions;
• capital expenditures and capital plan;
• acquisitions and divestitures;
• share repurchase and dividend programs;
• policies relating to interest rate, commodity and currency hedging; and
• employee retirement plan performance and funding.
|
Governance and Nominating Committee
|
|
• Identifies individuals qualified to become Board members and recommends them to the full Board for consideration, including evaluating all potential candidates, whether initially recommended by management, other Board members or stockholders
• Reviews and makes recommendations to the Board regarding the appropriate structure and operations of the Board and Board committees
• Makes recommendations to the Board regarding Board committee assignments
• Develops and annually reviews corporate governance guidelines for the Company, and oversees other corporate governance matters
• Reviews related person transactions
• Oversees an annual performance review of the Board, Board committees and individual director nominees
• Periodically reviews and makes recommendations to the Board regarding director compensation
|
•
|
Amended and Restated Certificate of Incorporation
|
•
|
Amended and Restated Bylaws
|
•
|
Board Confidentiality Policy
|
•
|
Corporate Governance Guidelines
|
•
|
Director Independence Standards
|
•
|
Anti-Corruption Policy
|
•
|
Business Conduct Policies
|
•
|
Code of Ethics for the CEO, CFO and Other Financial Professionals
|
•
|
Hiring Members (or Former Members) of Independent Public Auditors
|
•
|
Human Rights Policy
|
•
|
Insider Trading Policy
|
•
|
Political Contributions
|
•
|
Related Person Transaction Approval Policy
|
•
|
Charters of each of our Board committees
|
1.
|
Directors must have demonstrated the highest ethical behavior and must be committed to Arconic Corporation’s values.
|
2.
|
Directors must be committed to seeking and balancing the legitimate long-term interests of all of Arconic Corporation’s stockholders, as well as its other stakeholders, including its customers, employees and the communities where Arconic Corporation has an impact. Directors must not be beholden primarily to any special interest group or constituency.
|
3.
|
It is the objective of the Board that all non-management directors be independent. In addition, no director should have, or appear to have, a conflict of interest that would impair that director’s ability to make decisions consistently in a fair and balanced manner.
|
4.
|
Directors must be independent in thought and judgment. They must each have the ability to speak out on difficult subjects; to ask tough questions and demand accurate, honest answers; to constructively challenge management; and at the same time, act as an effective member of the team, engendering by his or her attitude an atmosphere of collegiality and trust.
|
5.
|
Each director must have demonstrated excellence in his or her area and must be able to deal effectively with crises and to provide advice and counsel to the Chief Executive Officer and his or her peers.
|
6.
|
Directors should have proven business acumen, serving or having served as a chief executive officer, or other senior leadership role, in a significant, complex organization; or serving or having served in a significant policy-making or leadership position in a well-respected, nationally or internationally recognized educational institution, not-for-profit organization or governmental entity; or having achieved a widely recognized position of leadership in the director’s field of endeavor which adds substantial value to the oversight of material issues related to Arconic Corporation’s business.
|
7.
|
Directors must be committed to understanding Arconic Corporation and its industry; to regularly preparing for, attending and actively participating in meetings of the Board and its committees; and to ensuring that existing and
|
8.
|
Directors must understand the legal responsibilities of board service and fiduciary obligations. All members of the Board should be financially literate and have a sound understanding of business strategy, business environment, corporate governance and board operations. At least one member of the Board must satisfy the requirements of an “audit committee financial expert.”
|
9.
|
Directors must be self-confident and willing and able to assume leadership and collaborative roles as needed. They need to demonstrate maturity, valuing Board and team performance over individual performance and respect for others and their views.
|
10.
|
New director nominees should be able and committed to serve as a member of the Board for an extended period of time.
|
11.
|
While the diversity, the variety of experiences and viewpoints represented on the Board should always be considered, a director nominee should not be chosen nor excluded solely or largely because of race, color, gender, national origin or sexual orientation or identity. In selecting a director nominee, the committee will focus on any special skills, expertise or background that would complement the existing Board, recognizing that Arconic Corporation’s businesses and operations are diverse and global in nature.
|
12.
|
Directors should have reputations, both personal and professional, consistent with Arconic Corporation’s image and reputation.
|
(i)
|
employment of Arconic Corporation executive officers (except employment of an Arconic Corporation executive officer that is an immediate family member of another Arconic Corporation executive officer, director, or nominee for director) as long as the Compensation and Benefits Committee has approved the executive officers’ compensation;
|
(ii)
|
director compensation that the Board has approved;
|
(iii)
|
any transaction with another entity in which the aggregate amount involved does not exceed the greater of $1,000,000 or 2% of the other entity’s total annual revenues, if a related person’s interest arises only from:
|
(a)
|
such person’s position as an employee or executive officer of the other entity; or
|
(b)
|
such person’s position as a director of the other entity; or
|
(c)
|
the ownership by such person, together with his or her immediate family members, of less than a 10% equity interest in the aggregate in the other entity (other than a partnership); or
|
(d)
|
both such position as a director and ownership as described in (b) and (c) above; or
|
(e)
|
such person’s position as a limited partner in a partnership in which the person, together with his or her immediate family members, have an interest of less than 10%;
|
(iv)
|
charitable contributions in which a related person’s only relationship is as an employee (other than an executive officer), or a director or trustee, if the aggregate amount involved does not exceed the greater of $250,000 or 2% of the charitable organization’s total annual receipts;
|
(v)
|
transactions, such as the receipt of dividends, in which all stockholders receive proportional benefits;
|
(vi)
|
transactions involving competitive bids;
|
(vii)
|
transactions involving the rendering of services as a common or contract carrier, or public utility, at rates or charges fixed in conformity with law or governmental authority; and
|
(viii)
|
transactions with a related person involving services as a bank depositary of funds, transfer agent, registrar, trustee under a trust indenture, or similar services.
|
1.
|
Timothy D. Myers was appointed as Arconic Corporation’s President on February 11, 2020 and will serve as Chief Executive Officer following separation.
|
2.
|
Erick R. Asmussen was appointed as Arconic Corporation's Executive Vice President and Chief Financial Officer and is expected to serve in this position following separation.
|
3.
|
Melissa M. Miller is expected to serve as Executive Vice President and Chief Human Resources Officer of Arconic Corporation commencing upon the separation.
|
4.
|
Diana C. Toman is expected to serve as Executive Vice President, Chief Legal Officer and Secretary of Arconic Corporation commencing upon the separation.
|
5.
|
Mark J. Vrablec is expected to serve as Executive Vice President and Chief Commercial Officer of Arconic Corporation commencing upon the separation.
|
6.
|
Mary E. Zik was appointed as Arconic Corporation’s Vice President and Controller, on February 11, 2020 and is expected to serve in this position following separation.
|
1.
|
Pay for Performance: ParentCo links compensation to measured performance in key areas. ParentCo’s strategic priorities are reflected in its metrics at the corporate, group and individual levels.
|
2.
|
Cancellation of Unvested Equity Awards Upon Termination of Employment: Unvested ParentCo equity awards are generally forfeited upon termination of employment, other than in connection with disability, death or change in control, or if retirement-eligible.
|
3.
|
Robust Stock Ownership Guidelines: ParentCo officers and directors are subject to stock ownership guidelines to align their interests with stockholder interests.
|
4.
|
Double-Trigger Change in Control Provisions: ParentCo equity awards for ParentCo named executive officers generally require a “double-trigger” of both a change in control and termination of employment for vesting acceleration benefits to apply.
|
5.
|
Active Engagement with Investors: ParentCo engages with investors throughout the year to obtain insights that guide ParentCo’s executive compensation programs.
|
6.
|
Independent Compensation Consultant: The ParentCo Compensation and Benefits Committee retains a compensation consultant, who is independent and without conflicts of interest with ParentCo.
|
7.
|
Conservative Risk Profile: ParentCo generally applies varied performance measures in incentive programs to mitigate risk that executives will be motivated to pursue results with respect to any one performance measure to the detriment of ParentCo as a whole.
|
8.
|
Claw-Back Policy: Both ParentCo’s annual cash incentive compensation plan and its stock incentive plan contain “claw-back” provisions providing for reimbursement of incentive compensation from ParentCo named executive officers in certain circumstances.
|
1.
|
No Guaranteed Bonuses: ParentCo’s annual incentive compensation plan is performance-based and does not include any minimum payment levels.
|
2.
|
No Parachute Tax Gross-Ups: ParentCo’s Change in Control Severance Plan provides that no excise or other tax gross-ups will be paid.
|
3.
|
No Short Sales, Derivative Transactions or Hedging: ParentCo does not allow short sales or derivative or speculative transactions in, or hedging of, ParentCo securities by its directors, officers or employees. Directors and certain officers are also prohibited from pledging ParentCo securities as collateral.
|
4.
|
No Dividends on Unvested Equity Awards: ParentCo does not pay dividends on unvested equity awards but accrues dividend equivalents that only vest when and if the award vests.
|
5.
|
No Share Recycling or Option Repricing: ParentCo equity plans prohibit share recycling, the adding back of shares tendered in payment of the exercise price of a stock option award or withheld to pay taxes, and repricing underwater stock options.
|
6.
|
No Significant Perquisites: ParentCo limits the perquisites it pays to its named executive officers to those that serve reasonable business purposes.
|
1.
|
Make equity long-term incentive (“LTI”) compensation the most significant portion of total compensation for senior executives and managers.
|
2.
|
Choose annual incentive compensation (“IC”) metrics and LTI metrics that focus management’s actions on achieving the greatest positive impact on ParentCo’s financial performance and that include a means to assess and motivate performance relative to peers.
|
3.
|
Set annual IC and LTI targets that challenge management to achieve continuous improvement in performance and deliver long-term growth.
|
4.
|
Target total compensation at median of market, while using annual IC and LTI compensation to motivate performance and to attract and retain exceptional talent.
|
Compensation Type
|
|
Guiding Principle
|
Base Salary
|
|
Target total direct compensation, including salary, at median of market to provide competitive pay
|
Short-Term Annual Incentive Compensation
|
|
Choose annual IC weighted metrics that focus management’s actions on achieving greatest positive impact on ParentCo’s financial performance and that include a means to assess and motivate performance relative to peers
Set annual IC targets that challenge management to achieve continuous improvement as part of an overall strategy to deliver long-term growth
Take into account individual performance that may include non-financial measures of the success of ParentCo
|
Long-Term Incentive Compensation
|
|
Make LTI equity the most significant portion of total compensation for senior executives and managers
Set LTI target grant levels in line with median among industry peers that are competitive to attract, retain and motivate executives and factor in individual performance and future potential for long-term retention
In prior years, ParentCo has granted a portion of each ParentCo named executive officer’s LTI awards as performance-based restricted share units, choosing performance metrics that focus management’s actions on achieving the greatest positive impact on ParentCo’s financial performance and that include a means to assess and motivate performance relative to peers and setting targets that challenge management to achieve continuous improvement in performance and deliver long-term growth. However, in anticipation of the separation and given the difficulty of continuing to measure multi-year performance goals after the separation, 100% of the full value LTI awards granted to ParentCo named executive officers in 2019 (other than the ParentCo chief executive officer, who received certain performance-based restricted share units in connection with the extension of his employment agreement) are in the form of time-based vesting restricted share units.
|
Alcoa Corp.
|
|
Spirit AeroSystems
|
U.S. Steel
|
|
TransDigm Group
|
Reliance Steel & Aluminum
|
|
Triumph Group
|
AK Steel Holding
|
|
Oshkosh
|
Commercial Metals
|
|
Terex Corp.
|
Allegheny Technologies
|
|
AGCO Corp.
|
Olin Corp.
|
|
Stanley Black & Decker
|
The Chemours Co.
|
|
Dover Corp.
|
Ball Corp.
|
|
Flowserve Corp.
|
Harris
|
|
AMETEK
|
|
Worthington Industries
|
L3 Technologies
|
|
General Cable
|
|
Xylem
|
Rockwell Collins
|
|
TE Connectivity
|
|
CSX
|
SAIC
|
|
Ameren
|
|
Norfolk Southern
|
Spirit AeroSystems
|
|
AVANGRID
|
|
Agilent Technologies
|
Textron
|
|
CMS Energy
|
|
Boston Scientific
|
Triumph Group
|
|
Eversource Energy
|
|
Zimmer Biomet
|
Air Products and Chemicals
|
|
PPL
|
|
Alcoa
|
Axalta Coating Systems
|
|
UGI
|
|
Allegheny Technologies
|
Chemours Company
|
|
Vistra Energy
|
|
Commercial Metals
|
Eastman Chemical
|
|
WEC Energy Group
|
|
Newmont Mining
|
Ecolab
|
|
Williams Companies
|
|
Peabody Energy
|
Mosaic
|
|
Ball
|
|
United States Steel
|
Praxair
|
|
Crown Holdings
|
|
CVR Energy
|
Westlake Chemical
|
|
Fortive Corporation
|
|
DCP Midstream
|
EMCOR Group
|
|
Goodyear Tire & Rubber
|
|
EnLink Midstream
|
Jacobs Engineering
|
|
Greif
|
|
Occidental Petroleum
|
Fortune Brands Home & Security
|
|
Ingersoll Rand
|
|
ONEOK
|
Masco
|
|
Owens Corning
|
|
BorgWarner
|
Newell Brands
|
|
Parker Hannifin
|
|
Cooper Standard Automotive
|
Polaris Industries
|
|
Rockwell Automation
|
|
Dana
|
Sonoco Products
|
|
Snap-on Inc.
|
|
Harley-Davidson
|
Avery Dennison
|
|
Stanley Black & Decker
|
|
Oshkosh
|
Berry Plastics
|
|
Terex
|
|
Tenneco
|
Clorox
|
|
Timken
|
|
Trinity Industries
|
PVH Corp.
|
|
Vulcan Materials
|
|
|
1.
|
A balance of corporate and business unit weighting in incentive compensation programs;
|
2.
|
A balanced mix between short-term and long-term incentives;
|
3.
|
Caps on incentives;
|
4.
|
Use of multiple performance measures in the annual cash incentive compensation plan and the equity LTI plan;
|
5.
|
Discretion retained by the ParentCo Compensation and Benefits Committee to adjust awards;
|
6.
|
Stock ownership guidelines requiring holding substantial equity in ParentCo until retirement;
|
7.
|
Claw-back policies applicable to all forms of incentive compensation;
|
8.
|
Anti-hedging provisions in ParentCo’s Insider Trading Policy; and
|
9.
|
Restricting stock options to 20% of the value of equity awards to senior officers.
|
1.
|
Market positioning based on peer group data;
|
2.
|
Individual, group, and corporate performance;
|
3.
|
Complexity and importance of the role and responsibilities;
|
4.
|
Aggressiveness of targets;
|
5.
|
Contributions that positively impact Arconic Corporation’s future performance;
|
6.
|
Unanticipated events impacting target achievement;
|
7.
|
Retention of key individuals in a competitive talent market; and
|
8.
|
Leadership and growth potential.
|
Arconic Corporation Named Executive Officer
|
|
Base Salary
|
||
Timothy D. Myers, Chief Executive Officer
|
|
$
|
850,000
|
|
Arconic Corporation Named Executive Officer
|
|
Annual Incentive Compensation Opportunity
|
Timothy D. Myers, Chief Executive Officer
|
|
125% of base salary
|
Arconic Corporation Named
Executive Officer
|
|
Grant Date Value of
2020 Time-Based
Annual LTI Award
|
|
Grant Date Value of
2020 Performance-Based
Annual LTI Award
(at Target)
|
|
Timothy D. Myers, Chief Executive Officer
|
|
1,720,000
|
(1)
|
2,580,000
|
(2)
|
Name and Principal
Position
|
|
Year
|
|
Salary
($)
|
|
Bonus
($)
|
|
Stock
Awards
($)
|
|
Option
Awards
($)
|
|
Non-Equity
Incentive Plan
Compensation
($)
|
|
Change in
Pension Value
and Non-
Qualified
Deferred
Compensation
Earnings
($)
|
|
All Other
Compensation
($)
|
|
Total
($)
|
||||||||||||||||
(a)
|
|
(b)
|
|
(c)
|
|
(d)
|
|
(e)
|
|
(f)
|
|
(g)
|
|
(h)
|
|
(i)
|
|
(j)
|
||||||||||||||||
Timothy D. Myers(1)
|
|
2019
|
|
$
|
574,333
|
|
|
$
|
—
|
|
|
$
|
1,200,001
|
|
|
$
|
—
|
|
|
$
|
861,500
|
|
|
$
|
657,119
|
|
|
$
|
58,705
|
|
|
$
|
3,351,658
|
|
Chief Executive Officer
|
|
2018
|
|
$
|
542,500
|
|
|
$
|
—
|
|
|
$
|
1,056,189
|
|
|
$
|
264,036
|
|
|
$
|
233,818
|
|
|
$
|
—
|
|
|
$
|
57,120
|
|
|
$
|
2,153,663
|
|
|
|
2017
|
|
$
|
436,250
|
|
|
$
|
—
|
|
|
$
|
949,308
|
|
|
$
|
228,052
|
|
|
$
|
396,356
|
|
|
$
|
516,994
|
|
|
$
|
19,333
|
|
|
$
|
2,546,293
|
|
1.
|
Mr. Myers served as Executive Vice President and Group President, Global Rolled Products, Extrusions and Building and Construction Systems. Summary Compensation Table data reflects compensation for the positions in which Mr. Myers served at ParentCo in 2019. Mr. Myers became President of Arconic Corporation as of February 11, 2020 and will become Chief Executive Officer following separation.
|
|
|
Company Matching Contribution
|
|
3% Retirement Contribution
|
|
Total Company
Contribution
|
||||||||||||||
Name
|
|
Savings Plan
|
|
Def. Comp. Plan
|
|
Savings Plan1
|
|
Def. Comp. Plan
|
|
|||||||||||
Timothy D. Myers
|
|
$
|
16,800
|
|
|
$
|
17,660
|
|
|
$
|
8,400
|
|
|
$
|
15,844
|
|
|
$
|
58,705
|
|
|
|
|
|
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards(1)
|
|
All Other
Stock Awards:
Number of
Shares
of Stock
or Units(2)
(#)
|
|
2019 Grant
Date Fair
Value of
Stock and
Option
Awards
($)
|
|||||||||||||
Name
|
|
Grant Dates
|
|
Threshold ($)
|
|
Target ($)
|
|
Maximum ($)
|
|
|
|
|
|||||||||
(a)
|
|
(b)
|
|
(c)
|
|
(d)
|
|
(e)
|
|
(i)
|
|
(l)
|
|||||||||
Timothy D. Myers
|
|
|
|
$
|
287,167
|
|
|
$
|
574,333
|
|
|
$
|
1,723,000
|
|
|
|
|
|
|
|
|
|
|
2/28/2019
|
|
|
|
|
|
|
|
|
|
|
64,900
|
|
|
$
|
1,200,001
|
|
|
|
Option Awards
|
|
Stock Awards
|
|||||||||||||||||||||||
Name
|
|
Number of
Securities
Underlying
Unexercised
Options
(Exercisable)
(#)
|
|
Number of
Securities
Underlying
Unexercised
Options
(Unexercisable)
(#)
|
|
Equity
Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Unearned
Options (#)
|
|
Option
Exercise
Price ($)
|
|
Option
Expiration
Date
|
|
Number
of
Shares
or Units
of Stock
That
Have
Not
Vested
(#)
|
|
Market
Value of
Shares
or Units
of Stock
That
Have Not
Vested
($)
|
|
Equity
Incentive
Plan Awards:
Number
of
Unearned
Shares,
Units or
Other
Rights
That Have
Not
Vested (#)
|
|
Equity
Incentive
Plan
Awards:
Market or
Payout
Value of
Unearned
Shares,
Units or
Other
Rights
That Have
Not Vested
($)
|
|||||||||
(a)
|
|
(b)
|
|
(c)
|
|
(d)
|
|
(e)
|
|
(f)
|
|
(g)
|
|
(h)
|
|
(i)
|
|
(j)
|
|||||||||
Timothy D. Myers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Awards1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
132,780
|
|
|
4,085,641
|
|
|
—
|
|
|
—
|
|
|
Time-Vested Options2
|
|
12,144
|
|
|
12,143
|
|
|
—
|
|
|
$
|
21.13
|
|
|
1/13/2027
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,990
|
|
|
17,980
|
|
|
—
|
|
|
$
|
30.22
|
|
|
1/19/2028
|
|
|
|
|
|
|
|
|
|
|
|
|
Name(1)
|
|
Plan Name(s)
|
|
Years of
Credited
Service
|
|
Present Value of
Accumulated
Benefits
|
|
Payments During
Last Fiscal Year
|
|||
Timothy D. Myers
|
|
ParentCo Retirement Plan
|
|
26.52
|
|
|
$
|
1,213,338
|
|
|
|
|
|
Excess Benefits Plan C
|
|
|
|
|
$
|
1,661,316
|
|
|
|
|
|
Total
|
|
|
|
|
$
|
2,874,654
|
|
|
N/A
|
Name
|
|
Executive
Contributions
in 2019
($)
|
|
Registrant
Contributions
in 2019
($)
|
|
Aggregate
Earnings in
2019
($)
|
|
Aggregate
Withdrawals
Distributions
($)
|
|
Aggregate
Balance at
12/31/2019
FYE
($)
|
|||||||
(a)
|
|
(b)
|
|
(c)
|
|
(d)
|
|
(e)
|
|
(f)
|
|||||||
|
|
|
|
|
|
|
|
272,235E
|
|
|
|
|
|
|
|||
Timothy D. Myers
|
|
$
|
17,660
|
|
|
$
|
33,505
|
|
|
2,169D
|
|
—
|
|
|
$
|
680,629
|
|
Name
|
|
Estimated Net
Present Value of
Cash Severance
Payments
|
|
Estimated Net
Present Value of
Two Years
Additional
Retirement Accrual
|
|
Estimated net
present value of
continued active
health care benefits
|
|
Total
|
||||||||
Timothy D. Myers
|
|
$
|
1,138,237
|
|
|
$
|
1,377,103
|
|
|
$
|
41,664
|
|
|
$
|
2,557,004
|
|
Name
|
|
Estimated net present value of change
in control severance and benefits
|
||
Timothy D. Myers
|
|
$
|
6,092,905
|
|
Compensation Element
|
|
|
Amount
|
|||
Annual Cash Retainer
|
|
|
|
$
|
120,000
|
|
Annual Equity Award (Restricted Share Units Granted Following Each Annual Meeting of Stockholders)
|
|
|
|
$
|
150,000
|
|
Other Annual Fees
|
|
|
|
|
|
|
Chairman of the Board Fee
|
|
|
|
$
|
130,000
|
|
Lead Director Fee
|
|
|
|
$
|
30,000
|
|
Audit Committee Chair Fee (includes Audit Committee Member Fee)
|
|
|
|
$
|
20,000
|
|
Compensation and Benefits Committee Chair Fee
|
|
|
|
$
|
15,000
|
|
Other Committee Chair Fee
|
|
|
|
15,000
|
|
|
Per Meeting Fee for Meetings in Excess of Regularly Scheduled Meetings
|
|
|
|
$
|
1,200
|
|
Name and Address of Beneficial Owner
|
|
Amount and Nature of Beneficial
Ownership
|
|
Percent of Class
|
||
The Vanguard Group
100 Vanguard Blvd
Malvern, PA 19355
|
|
10,712,362
|
(1
|
)
|
9.83
|
%
|
Elliott Investment Management L.P.
40 West 57th Street
New York, NY 10019
|
|
10,391,414
|
(2
|
)
|
9.53
|
%
|
BlackRock, Inc.
55 East 52nd Street
New York, NY 10055
|
|
8,479,035
|
(3
|
)
|
7.78
|
%
|
First Pacific Advisors, LP
J. Richard Atwood
Steven T. Romick
11601 Wilshire Blvd., Suite 1200
Los Angeles, CA 90025
|
|
5,678,986
|
(4
|
)
|
5.21
|
%
|
Name of Beneficial Owner
|
|
Shares of
Common Stock(1)
|
|
Deferred Share
Units(2)
|
|
Deferred
Restricted Share
Units(3)
|
|
Total
|
||||
Directors
|
|
|
|
|
|
|
|
|
|
|
|
|
William F. Austen
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Christopher L. Ayers
|
|
1,875
|
|
|
—
|
|
|
7,310
|
|
|
9,185
|
|
Margaret “Peg” S. Billson
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Austin G. Camporin
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Jacques Croisetiere
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Elmer L. Doty(4)
|
|
17,670
|
|
|
—
|
|
|
4,321
|
|
|
21,991
|
|
Carol S. Eicher
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Frederick “Fritz” A. Henderson
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
E. Stanley O’Neal
|
|
—
|
|
|
11,717
|
|
|
10,418
|
|
|
22,135
|
|
Jeffrey Stafeil
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Executive Officers
|
|
|
|
|
|
|
|
|
|
|
|
|
Erick R. Asmussen
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Timothy D. Myers*
|
|
28,198
|
|
|
5,285
|
|
|
24,744
|
|
|
58,227
|
|
Melissa M. Miller
|
|
3,787
|
|
|
—
|
|
|
7,987
|
|
|
11,774
|
|
Diana C. Toman
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Mark J. Vrablec
|
|
3,792
|
|
|
799
|
|
|
14,372
|
|
|
18,963
|
|
Mary E. Zik
|
|
1,624
|
|
|
—
|
|
|
2,820
|
|
|
4,444
|
|
All directors and executive officers as a group
(16 persons)
|
|
56,946
|
|
|
17,801
|
|
|
71,972
|
|
|
146,719
|
|
•
|
certain assets related to the Arconic Corporation Businesses, which we refer to as the “Arconic Corporation Assets,” will be retained by or transferred to Arconic Corporation or one of its subsidiaries, including:
|
•
|
equity interests in certain ParentCo subsidiaries that hold assets relating to the Arconic Corporation Businesses;
|
•
|
the Arconic Corporation brands, certain other trade names and trademarks, and certain other intellectual property (including patents, know-how and trade secrets), software, information and technology used in the Arconic Corporation Businesses or related to the Arconic Corporation Assets, the Arconic Corporation Liabilities (as defined below) or the Arconic Corporation Businesses;
|
•
|
facilities related to the Arconic Corporation Businesses;
|
•
|
contracts (or portions thereof) that relate to the Arconic Corporation Businesses;
|
•
|
rights and assets expressly allocated to Arconic Corporation pursuant to the terms of the separation agreement or certain other agreements entered into in connection with the separation;
|
•
|
permits that primarily relate to the Arconic Corporation Businesses; and
|
•
|
certain liabilities related to the Arconic Corporation Businesses or the Arconic Corporation Assets, which we refer to as the “Arconic Corporation Liabilities,” will be retained by or transferred to Arconic Corporation. Subject to limited exceptions, liabilities that relate primarily to the Arconic Corporation Businesses, including liabilities of various legal entities that will be subsidiaries of Arconic Corporation following the separation, will be Arconic Corporation Liabilities; and
|
•
|
all of the assets and liabilities (including whether accrued, contingent or otherwise) other than the Arconic Corporation Assets and the Arconic Corporation Liabilities (such assets and liabilities, other than the Arconic Corporation Assets and the Arconic Corporation Liabilities, we refer to as the “Howmet Aerospace Assets” and “Howmet Aerospace Liabilities,” respectively) will be retained by or transferred to Howmet Aerospace.
|
•
|
the SEC declaring effective the registration statement on Form 10; there being no order suspending the effectiveness of the registration statement in effect; and no proceedings for such purposes having been instituted or threatened by the SEC;
|
•
|
the information statement included in the Form 10 having been made available to ParentCo stockholders;
|
•
|
the receipt by ParentCo and continuing validity of an opinion of its outside counsel, satisfactory to the ParentCo Board of Directors, regarding the qualification of the distribution, together with certain related transactions, as a “reorganization” within the meaning of Sections 355 and 368(a)(1)(D) of the Code;
|
•
|
the internal reorganization having been completed and the transfer of assets and liabilities of the Arconic Corporation Businesses from ParentCo to Arconic Corporation, and the transfer of assets and liabilities of the Howmet Aerospace Businesses from Arconic Corporation to ParentCo, having been completed in accordance with the separation agreement;
|
•
|
the receipt of one or more opinions from an independent appraisal firm to the ParentCo Board of Directors as to the solvency of Howmet Aerospace and Arconic Corporation after the completion of the distribution, in each case in a form and substance acceptable to the ParentCo Board of Directors in its sole and absolute discretion;
|
•
|
all actions necessary or appropriate under applicable U.S. federal, state or other securities or blue sky laws and the rules and regulations thereunder having been taken or made and, where applicable, having become effective or been accepted; and
|
•
|
the execution of certain agreements contemplated by the separation agreement;
|
•
|
no order, injunction or decree issued by any government authority of competent jurisdiction or other legal restraint or prohibition preventing the consummation of the separation, the distribution or any of the related transactions being in effect;
|
•
|
the shares of Arconic Corporation common stock to be distributed having been accepted for listing on the NYSE, subject to official notice of distribution;
|
•
|
ParentCo having received certain proceeds from financing arrangements and being satisfied in its sole and absolute discretion that, as of the effective time of the distribution, it will have no further liability under such arrangements; and
|
•
|
no other event or development existing or having occurred that, in the judgment of ParentCo’s Board of Directors, in its sole and absolute discretion, makes it inadvisable to effect the separation, the distribution and the other related transactions.
|
•
|
the Arconic Corporation Liabilities;
|
•
|
Arconic Corporation’s failure or the failure of any other person to pay, perform or otherwise promptly discharge any of the Arconic Corporation Liabilities, in accordance with their respective terms, whether prior to, at or after the distribution;
|
•
|
except to the extent relating to a Howmet Aerospace Liability, any guarantee, indemnification or contribution obligation for the benefit of Arconic Corporation by Howmet Aerospace that survives the distribution;
|
•
|
any breach by Arconic Corporation of the separation agreement or any of the ancillary agreements; and
|
•
|
any untrue statement or alleged untrue statement or omission or alleged omission of material fact in the Form 10 or in the information statement included in the Form 10 (as amended or supplemented), except for any such statements or omissions made explicitly in Howmet Aerospace’s name.
|
•
|
Howmet Aerospace will agree to indemnify, defend and hold harmless Arconic Corporation, each of Arconic Corporation’s affiliates and each of Arconic Corporation’s affiliates’ directors, officers and employees from and against all liabilities relating to, arising out of or resulting from:
|
•
|
the Howmet Aerospace Liabilities;
|
•
|
the failure of Howmet Aerospace or any other person to pay, perform or otherwise promptly discharge any of the Howmet Aerospace Liabilities in accordance with their respective terms whether prior to, at or after the distribution;
|
•
|
except to the extent relating to an Arconic Corporation Liability, any guarantee, indemnification or contribution obligation for the benefit of Howmet Aerospace by Arconic Corporation that survives the distribution;
|
•
|
any breach by Howmet Aerospace of the separation agreement or any of the ancillary agreements; and
|
•
|
any untrue statement or alleged untrue statement or omission or alleged omission of a material fact made explicitly in Howmet Aerospace’s name in the Form 10 or in the information statement included in the Form 10 (as amended or supplemented).
|
|
2019
|
||
Audit Fees
|
$
|
4.7
|
|
Audit-Related Fees
|
—
|
|
|
Tax Fees
|
—
|
|
|
All Other Fees
|
—
|
|
|
Total
|
$
|
4.7
|
|
(1)
|
The Company’s combined financial statements, the notes thereto and the report of the Independent Registered Public Accounting Firm are included in Part II Item 8 Financial Statements and Supplementary Data.
|
(2)
|
Financial statement schedules have been omitted because they are not applicable, not required, or the required information is included in the Combined Financial Statements or Notes thereto.
|
Exhibit
Number
|
|
Exhibit Description
|
|
Form of Separation and Distribution Agreement by and between Arconic Inc. and Arconic Rolled Products Corporation (incorporated by reference to Exhibit 2.1 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Tax Matters Agreement by and between Arconic Inc. and Arconic Rolled Products Corporation (incorporated by reference to Exhibit 2.2 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Employee Matters Agreement by and between Arconic Inc. and Arconic Rolled Products Corporation (incorporated by reference to Exhibit 2.3 to Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
|
|
Form of Patent Know-How and Trade Secret License Agreement by and between Arconic Inc. and Arconic Rolled Products Corporation (incorporated by reference to Exhibit 2.4 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Patent Know-How and Trade Secret License Agreement by and between Arconic Rolled Products Corporation and Arconic Inc. (incorporated by reference to Exhibit 2.5 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Trademark License Agreement by and between Arconic Rolled Products Corporation and Arconic Inc. (incorporated by reference to Exhibit 2.6 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Trademark License Agreement by and between Arconic Inc. and Arconic Rolled Products Corporation (incorporated by reference to Exhibit 2.7 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Master Agreement for Product Supply by and between Arconic Massena LLC, Arconic Lafayette LLC, Arconic Davenport LLC and Arconic Inc. (incorporated by reference to Exhibit 2.8 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Metal Supply & Tolling Agreement by and between Arconic-Köfém Mill Products Hungary Kft and Arconic-Köfém Kft, dated January 1, 2020
|
|
|
Use Agreement by and between Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság and Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság, dated January 6, 2020.
|
|
|
Land Use Right Agreement by and between Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság and Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság, dated January 6, 2020
|
|
|
Service Level Agreement for Central Engineering and Maintenance by and between Arconic-Köfém Kft and Arconic-Köfém Mill Products Hungary Kft, dated January 1, 2020
|
Exhibit
Number
|
|
Exhibit Description
|
|
Service Level Agreement for Energy, Steam and Water by and between Arconic-Köfém Kft and Arconic-Köfém Mill Products Hungary Kft, dated January 31, 2020
|
|
|
Land Use Right Agreement by and between Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság and Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság, dated January 6, 2020
|
|
|
Form of Second Supplemental Tax and Project Certificate and Agreement by and among Arconic Inc., Arconic Davenport LLC and Arconic Rolled Products Corporation (incorporated by reference to Exhibit 2.15 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Lease and Property Management Agreement by and between Arconic Inc. and Arconic Massena LLC (incorporated by reference to Exhibit 2.16 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Certificate of Incorporation of Arconic Rolled Products Corporation, effective August 14, 2019
|
|
|
Amendment to Certificate of Incorporation of Arconic Rolled Products Corporation, effective March 18, 2020
|
|
|
Form of Amended and Restated Bylaws of Arconic Corporation (incorporated by reference to Exhibit 3.2 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
Form of Arconic Corporation 2020 Stock Incentive Plan (incorporated by reference to Exhibit 10.1 to Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
|
|
Form of Indemnification Agreement by and between Arconic Corporation and individual directors or officers (incorporated by reference to Exhibit 10.2 to the registrant’s registration statement on Form 10 filed on December 17, 2019)
|
|
|
United Company RUSAL – Trading House Agreement for the Supply of Aluminum Products by and between United Company RUSAL — Trading House and Arconic SMZ, dated December 27, 2016 (incorporated by reference to Exhibit 10.3 to the registrant’s registration statement on Form 10 filed on December 17, 2019)*
|
|
|
Form of Arconic Corporation Deferred Fee Plan for Directors (incorporated by reference to Exhibit 10.4 to Amendment No. 1 to the registrant’s registration statement on Form 10 filed on January 22, 2020)
|
|
|
Form of Arconic Corporation Annual Cash Incentive Plan (incorporated by reference to Exhibit 10.5 to Amendment No. 1 to the registrant’s registration statement on Form 10 filed on January 22, 2020)
|
|
|
Form of Arconic Corporation Non-Employee Director Compensation Policy (incorporated by reference to Exhibit 10.6 to Amendment No. 1 to the registrant’s registration statement on Form 10 filed on January 22, 2020)
|
|
|
Employment Letter Agreement between Arconic Inc. and Timothy D. Myers, dated as of January 13, 2020
(incorporated by reference to Exhibit 10.7 to Amendment No. 1 to the registrant’s registration statement on Form
10 filed on January 22, 2020)
|
|
|
Employment Letter Agreement between Arconic Inc. and Erick R. Asmussen, dated as of January 29, 2020 (incorporated by reference to Exhibit 10.8 to Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
|
|
Employment Letter Agreement between Arconic Inc. and Diana C. Toman, dated as of January 28, 2020
(incorporated by reference to Exhibit 10.9 to Amendment No. 2 to the registrant’s registration statement on Form
10 filed on February 7, 2020)
|
|
|
Form of Arconic Corporation Change in Control Severance Plan (incorporated by reference to Exhibit 10.10 to Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
|
|
Form of Arconic Corporation Executive Severance Plan (incorporated by reference to Exhibit 10.11 to
Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
|
|
Arconic Corporation Deferred Compensation Plan (incorporated by reference to Exhibit 10.12 to Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
|
|
Arconic Corporation Excess Plan C (incorporated by reference to Exhibit 10.13 to Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
Exhibit
Number
|
|
Exhibit Description
|
|
Indenture, among Arconic Rolled Products Corporation, the guarantors from time to time party thereto, U.S. Bank National Association, as trustee, U.S. Bank National Association, as collateral agent, and U.S. Bank National Association, as registrar, paying agent and authenticating agent, dated February 7, 2020 (incorporated by reference to Exhibit 10.14 to Amendment No. 2 to the registrant’s registration statement on Form 10 filed on February 7, 2020)
|
|
|
Credit Agreement, dated as of March 25, 2020, by and among the Company, the designated borrowers from time to time party thereto, the lenders and issuing banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on March 26, 2020)
|
|
|
Subsidiaries of the Registrant
|
|
|
Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
March 30, 2020
|
By
|
/s/ Mary E. Zik
|
|
|
Mary E. Zik
|
|
|
Vice President and Controller (Also signing as Principal Accounting Officer)
|
Signature
|
Title
|
Date
|
/s/ Timothy D. Myers
|
|
March 30, 2020
|
Timothy D. Myers
|
Chief Executive Officer and Director
(Principal Executive Officer)
|
|
/s/ Erick R. Asmussen
|
|
March 30, 2020
|
Erick R. Asmussen
|
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
|
|
*By
|
/s/ Christopher L. Ayers
|
|
Christopher L. Ayers
|
|
|
|
|
|
|
Metal Supply & Tolling Agreement
|
|
Fémszállítási és Nyersanyag Feldolgozási Megállapodás
|
This Metal Supply & Tolling Agreement (“Agreement”) is made by and between Arconic-Köfém Mill Products Hungary Kft, a Hungarian corporation (“Seller”) and Arconic-Köfém Kft, a Hungarian corporation (“Buyer”). Seller and Buyer can be referred to as a “Party” individually or “Parties” collectively.
|
|
A jelen Fémszállítási és bérmunka-megállapodás („Megállapodás”) az Arconic-Köfém Mill Products Hungary Kft. magyar társaság („Eladó”) és az Arconic-Köfém Kft. magyar társaság („Vevő”) között jött létre. A Megállapodásban az Eladó és a Vevő külön-külön „Fél”, együttesen „Felek” megjelöléssel is szerepel.
|
WHEREAS, the Parties desire for Seller to consign and sell homogenized aluminum forging stock billet, cut to specification, to Buyer;
|
|
MIVEL a Felek szándéka, hogy az Eladó specifikáció szerint darabolt, homogenizált alumíniumból készült kovácsolt nyersdarabokat szállítson és értékesítsen a Vevő részére;
|
WHEREAS, the Parties desire for Seller to provide tolling and logistical services to make homogenized aluminum forging stock billet, cut to specification, from revert made available to Seller by Buyer; and
|
|
MIVEL a Felek szándéka, hogy az Eladó a Vevő számára nyersanyag-feldolgozási és logisztikai szolgáltatásokat nyújtson, amelynek során a Vevő által biztosított visszatérő anyagból specifikáció szerint darabolt, homogenizált alumíniumból készült kovácsolt nyersdarabokat készít; és
|
WHEREAS, the Parties desire for Seller to provide services to Buyer in the form of cutting aluminum forging stock billet provided by Buyer.
|
|
MIVEL a Felek szándéka, hogy az Eladó a Vevő által biztosított alumínium kovácsolt nyersdarabok darabolására irányuló szolgáltatást nyújtson a Vevőnek,
|
NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, Buyer and Seller, intending to be legally bound, agree as follows:
|
|
ENNEK MEGFELELŐEN – az alábbi kölcsönös kötelezettségvállalások és megállapodások, valamint egyéb valós ellenérték figyelembevételével, amelyek átvételét és kielégítő voltát a Felek elismerik – a Vevő és az Eladó jogi kötőerő keletkeztetésének szándékával az alábbiakról állapodik meg:
|
•
Term. This Agreement is effective January 1, 2020 and expires on December 31, 2024, unless sooner terminated as agreed to by the Parties in writing or as provided in this Agreement.
|
|
•
Időbeli Hatály. A jelen Megállapodás 2020. január 1. napján lép hatályba és 2024. december 31. napján jár le, hacsak a Felek írásban ennél korábbi megszüntetésről nem állapodnak meg, illetve a jelen Megállapodás eltérően nem rendelkezik.
|
2. Products and Services. In accordance with this Agreement, Seller agrees to consign and sell the Products described in Exhibit A and to sell the Services described in Exhibit B as Buyer may order from time to time.
|
|
2. Termékek és Szolgáltatások. Az Eladó a jelen Megállapodás rendelkezéseinek megfelelően vállalja azon A. mellékletben felsorolt Termékek leszállítását és eladását, valamint azon B. mellékletben leírt Szolgáltatások teljesítését, amelyeket a Vevő időről időre megrendel.
|
3. Pricing and Payment. The prices for the Products and Services are identified in Exhibit C.
|
|
3. Árak és fizetés. A Termékek és Szolgáltatások árát a C. melléklet rögzíti.
|
4. Terms and Conditions & Definitions. The terms and conditions governing the consignment, purchase and sale of Products and Services pursuant to this Agreement are set forth in Exhibits A, B, and D. Definitions for terms used in this Agreement are set forth in Exhibit E.
|
|
4. Szerződési Feltételek és Fogalommeghatározások. A Termékek és a Szolgáltatások jelen Megállapodás szerinti konszignációs, vételi és eladási feltételeit az A., B és D. melléklet, a jelen Megállapodásban használt kifejezések fogalommeghatározását pedig az E. melléklet rögzíti.
|
5. Termination.
|
|
5. A Megállapodás megszűnése.
|
a. This Agreement may be terminated, in whole or in part, as follows:
|
|
a. A jelen Megállapodás részben vagy egészben az alábbiak szerint szüntethető meg:
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i. by mutual agreement in writing;
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i. közös megállapodással írásban;
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ii. by written notice of the non-breaching Party if the other Party is in material breach of this Agreement and such Party fails to cure the breach within ninety (90) days of receipt of a written notice from the non-breaching Party specifying the nature of the breach, provided that the cure period for a failure to timely pay is thirty (30) days, not 90 days; or
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ii. a vétlen Fél általi írásos felmondással, amennyiben a másik Fél súlyosan megszegi a jelen Megállapodást, és a vétlen Fél – a szerződésszegés jellegét is rögzítő – írásos felszólítása átvételétől számított 90 (kilencven) napon belül a szerződésszegést nem orvosolja, azzal, hogy a fizetési késedelem orvoslására nyitva álló idő nem 90, hanem 30 (harminc) nap; vagy
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iii. by written notice to a Party if the other Party is adjudicated as bankrupt, or if a receiver or trustee is appointed for it or for a substantial portion of its assets used in performing this Agreement, or if it makes an assignment of substantially all such assets for the benefit of its creditors, or if it commences a voluntary petition in bankruptcy, or if it otherwise becomes insolvent in either law or equity.
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iii. a Félnek küldött írásos felmondással, amennyiben a Fél fizetésképtelenségét a bíróság kimondja, a társaság egésze vagy vagyonának a jelen Megállapodás során használt, jelentős része tekintetében felszámolót vagy vagyonfelügyelőt neveznek ki, vagy a társaság lényegében a teljes ilyen vagyont a hitelezőire ruházza, saját maga ellen csődeljárást indít, vagy a jogszabályok vagy a méltányosságon alapuló szokásjog értelmében egyéb módon fizetésképtelenné válik.
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b. Upon the expiration or termination of this Agreement for any reason, (i) the Parties will conduct a final physical inventory and reconciliation of Revert, Scrap, WIP, Deliverables and Products within thirty (30) business days of the final day of this Agreement and (ii) Seller shall deliver all Deliverables and (iii) the non-breaching party shall determine whether the Parties shall complete the production of Product (or Deliverables, as the case may be) out of WIP and deliver such items to Buyer. In such circumstances, Seller may invoice upon delivery and the payment terms for such items are set forth in Exhibit D, Section 5(C). Seller will either return Scrap and Revert to Buyer or utilize such items for the completion of orders per subsections (i) and (ii) below.
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b. Amennyiben a jelen Megállapodás lejár vagy bármely okból megszűnik, i. a Felek a jelen Megállapodás utolsó napjától számított 30 (harminc) munkanapon belül elvégzik a Visszatérő Anyagok, a Hulladék, a Folyamatban Lévő Munkák, a Leszállítandók és a Termékek végső fizikai leltározását és egyeztetését; és ii. az Eladó átadja a Leszállítandókat; továbbá iii. a vétlen Fél meghatározza, hogy a Felek befejezik-e a Folyamatban Lévő Munkákon kívül eső Termék (vagy az adott esetnek megfelelően a Leszállítandók) előállítását, és azokat leszállítják-e a Vevőnek. Ilyen esetben az Eladó a leszállításkor állíthatja ki a számláját, azzal, hogy az ilyen tételekre irányadó fizetési feltételeket a D. melléklet 5.C. pontja rögzíti. A Hulladékot és a Visszatérő Anyagot az Eladó visszaszolgáltatja a Vevőnek vagy felhasználja a megrendelések teljesítésére az alábbi i. és ii. alpont szerint.
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i. Upon termination of this Agreement by Seller: Seller shall determine whether (a) to make Products in consignment available to Buyer for sale or whether to pick up Products in consignment at Buyer’s expense, (b) to complete the sale and purchase of Firm Fixed Orders for Products and Services.
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i. A jelen Megállapodás Eladó általi felmondása esetén: az Eladó meghatározza, hogy a) a konszignációban lévő Termékek értékesíthetők-e a Vevő számára, vagy a konszignációban lévő Termékek a Vevő költségére elhozandók-e, b) a Termékekre és Szolgáltatásokra leadott Határozott Rögzített Megrendelések adásvétele teljesítendő-e.
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ii. Upon termination of this Agreement by Buyer: Buyer shall determine whether (a) to purchase Products in consignment or whether to have Seller pick up Products in consignment at Seller’s expense, (b) to complete the sale and purchase of Firm Fixed Orders for Products and Services.
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ii. A jelen Megállapodás Vevő általi felmondása esetén: A Vevő meghatározza, hogy a) a konszignációban lévő Termékeket megvásárolja-e, vagy a konszignációban lévő Termékeket az Eladó saját költségére elvigye-e, b) a Termékekre és Szolgáltatásokra leadott Határozott Rögzített Megrendelések adásvétele teljesítendő-e.
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6. Incorporation by Reference. Exhibits A - E are attached hereto, made part hereof, and incorporated by reference herein.
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6. Hivatkozás a mellékletekre. A jelen Megállapodáshoz csatolt és hivatkozott A–E. mellékletek a Megállapodás részét képezik.
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7. Precedence of Documents. In the event of any conflict between the documents comprising this Agreement, the order of precedence will be as follows:
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7. A dokumentumok rangsora. Amennyiben a jelen Megállapodást alkotó dokumentumok között ellentmondás merül fel, a rendelkezések az alábbi sorrendben irányadók:
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A. The first 5 pages of this Agreement and Exhibit E
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A. A jelen Megállapodás első 5 oldala és az E. melléklet
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B. Exhibit A (Products) and Exhibit B (Services)
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B. Az A. melléklet (Termékek) és a B. melléklet (Szolgáltatások)
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C. Exhibit C (Pricing)
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C. A C. melléklet (Árszabás)
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D. Exhibit D (Terms and Conditions)
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D. A D. melléklet (Általános szerződési feltételek)
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8. Notices. All notices required or permitted to be given pursuant to this Agreement or any of the exhibits hereto shall be in writing and shall be valid and sufficient if dispatched by a) registered or certified mail, postage prepaid; b) hand delivery; or c) overnight courier.
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8. Értesítések. A jelen Megállapodás vagy annak bármely melléklete alapján küldendő vagy küldhető értesítéseket írásban kell továbbítani, és azok akkor minősülnek érvényesnek és megfelelőnek, ha a) bérmentesítve, ajánlott vagy tértivevényes levélként adják fel, b) személyes átadással vagy c) expressz futárszolgálattal kézbesítik.
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If to BUYER:
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A VEVŐ részére:
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Arconic-Kofem Kft.
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Arconic-Kofem Kft.
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1-15 Verseci utca, Szekesfehervar
8000 Hungary
Attn: Istvan Katus
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1-15 Verseci utca, Szekesfehervar
8000 Hungary
Cimzett: Istvan Katus Címzett:
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If to SELLER:
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Az ELADÓ részére:
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Arconic-Kofem Mill Products Hungary Kft.
1-15 Verseci utca, Szekesfehervar
8000 Hungary
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Arconic-Kofem Mill Products Hungary Kft.
1-15 Verseci utca, Szekesfehervar
8000 Hungary
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Attn: Balazs Gabor
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Címzett: Balazs Gabor
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Each Party may change its address or other notice information in any respect, by giving written notice to the other Party.
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A címét vagy egyéb kapcsolattartási adatait bármely Fél módosíthatja a másik Félnek küldött írásos értesítéssel.
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9. Entire Agreement. This Agreement, together with the exhibits hereto and purchase orders issued by Buyer and accepted by Seller, set forth the entire agreement between Buyer and Seller with respect to the subject matter hereof and supersedes and overrides all prior negotiations, commitments and writings, including but not limited to boilerplate terms and conditions contained in purchase orders, sales order acknowledgement forms or other documents exchanged between the Parties in connection with their obligations hereunder. Seller and Buyer acknowledge that purchase orders, sales acknowledgment forms and other standard documents may be utilized by the Parties for purposes of convenience in the administration of this Agreement, however any standard terms and conditions contained therein are for informational purposes only and shall not vary the terms of this Agreement.
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9. A Megállapodás teljessége. Annak tárgya vonatkozásában a jelen Megállapodás képezi a Vevő és az Eladó teljes megállapodását annak mellékleteivel, valamint a Vevő által feladott és az Eladó által elfogadott megrendelésekkel együtt, és felülír és hatályon kívül helyez minden korábbi tárgyalást, vállalást és írásos kommunikációt, ideértve többek között a Felek által az e Megállapodás szerinti kötelezettségeikkel kapcsolatban egymásnak küldött megrendelésekben, értékesítési visszaigazoló nyomtatványokban vagy egyéb dokumentumokban szereplő standard feltételeket is. Az Eladó és a Vevő tudomásul veszi, hogy a Felek a jelen Megállapodás ügyintézése során, annak egyszerűsítése érdekében megrendelőlapokat, értékesítési visszaigazoló nyomtatványokat és egyéb formanyomtatványokat használhatnak, azonban az ezekben szereplő esetleges általános szerződési feltételek kizárólag tájékoztatásul szolgálnak, és nem módosítják a jelen Megállapodás feltételeit.
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10. Counterparts. This Agreement may be executed in any number of counterparts, which together shall constitute one and the same document.
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10. Példányok. A jelen Megállapodás bármennyi ellenpéldányban aláírható, amelyek együttesen alkotják ugyanazt az egy okiratot.
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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized representatives as of the dates written below.
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A FENTIEK HITELÉÜL a Felek megfelelő felhatalmazással rendelkező képviselői az alulírott napon ezennel aláírják a jelen Megállapodást.
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Arconic-Köfém Mill Products Hungary Kft.
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Arconic-Köfém Mill Products Hungary Kft.
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By:
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Aláíró:
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Name:
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Név:
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Title:
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Beosztás:
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Date:
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Kelt:
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Arconic-Köfém Kft.
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Arconic-Köfém Kft.
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By:
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Aláíró:
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Name:
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Név:
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Title:
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Beosztás:
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Date:
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Kelt:
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DÁTUM
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2020 január 6.
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DATED
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6 January 2020
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
- és -
(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
- and -
(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
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HASZNÁLATI SZERZŐDÉS
a Székesfehérvár belterület 9820/15 helyrajzi szám alatt bejegyzett ingatlan vonatkozásában
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USE AGREEMENT
relating to the property registered under the land registry number Székesfehérvár, urban zone 9820/15
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TARTALOMJEGYZÉK
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CONTENTS
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1.TELEKINGATLAN HASZNÁLATA 2
2.KÖLTSÉGEK ÉS SZOLGÁLTATÁSOK 5
3.HATÁLY 6
4.TÖRVÉNYEN ALAPULÓ ELŐVÁSÁRLÁSI JOG 6
5.ÉRTESÍTÉSEK 7
6.A SZERZŐDÉS MÓDOSÍTÁSA 8
7.RÉSZLEGES ÉRVÉNYTELENSÉG 8
8.JOG 9
9.JOGUTÓDLÁS 9
10.NYELV 9
11.KIJELENTÉSEK ÉS SZAVATOSSÁGVÁLLALÁSOK 9
12.EGYÉB 10
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1.USE OF THE PLOT PROPERTY 2
2.COSTS AND SERVICES 5
3.EFFECT 6
4.STATUTORY RIGHT OF FIRST REFUSAL 6
5.NOTICES 7
6.AMENDMENT 8
7.PARTIAL INVALIDITY 8
8.GOVERNING LAW 9
9.LEGAL SUCCESSION 9
10.GOVERNING LANGUAGE 9
11.REPRESENTATIONS AND WARRANTIES 9
12.MISCELLANEOUS 10
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A JELEN SZERZŐDÉS 2020. január 6. napján jött létre
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THIS AGREEMENT is made on 6 January 2020
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AZ ALÁBBI FELEK KÖZÖTT:
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BETWEEN:
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (székhely: 8000 Székesfehérvár, Verseci u. 1-15.; cégjegyzékszám: 07-09-001598; adószám: 10584215-2-07; statisztikai számjele: 10584215-2442-113-07) ("Arconic") és
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (registered seat: 8000 Székesfehérvár, Verseci u. 1-15.; company registration number: 07-09-001598; tax number: 10584215-2-07; statistical identification number: 10584215-2442-113-07) ("Arconic"); and
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(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (székhelye: 8000 Székesfehérvár, Verseci u. 1-15.; cégjegyzékszáma: 07-09-030481; adószáma: 27104705-2-07; statisztikai számjele: 27104705-2442-113-07) ("Mill Products")
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(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (registered seat: 8000 Székesfehérvár, Verseci u. 1-15.; company registration number: 07-09-030481; tax number: 27104705-2-07; statistical identification number: 27104705-2442-113-07) ("Mill Products")
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(Arconic és Mill Products külön-külön a továbbiakban: "Fél" vagy "Tulajdonostárs", együttesen: "Felek" vagy "Tulajdonostársak")
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(Arconic and Mill Products hereinafter individually referred to as a "Party" or a "Co-Owner", collectively as the "Parties" or the "Co-Owners").
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ELŐZMÉNYEK:
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BACKGROUND:
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•
A Felek rögzítik, hogy az Arconic 46/100 arányú tulajdonát és a Mill Products 54/100 arányú tulajdonát képezi az ingatlan-nyilvántartásban a Székesfehérvár belterület 9820/15 helyrajzi szám alatt bejegyzett ingatlan ("Telek Ingatlan").
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The Parties record, that the Property registered under the land registry number Székesfehérvár urban zone 9820/15 ("Plot Property") is owned by Arconic in a 46/100 ratio and by Mill Products in a 54/100 ratio.
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B Az Arconic kérelmet nyújtott be az illetékes ingatlan-nyilvántartási hatósághoz annak érdekében, hogy a Telek Ingatlanon található felépítményeket önálló ingatlanokként az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény 12. § a) pontjának aa) alpontja és az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény végrehajtásáról szóló 109/1999 (XII.29.) FVM rendelet 59. § (2) bekezdése alapján bejegyeztesse az ingatlan-nyilvántartásba. A felépítmények az Arconic kérelmének megfelelően a Székesfehérvár belterület 9820/15/A - 9820/15/V helyrajzi számok alatt önálló helyrajzi számmal rendelkező felépítményként az ingatlan-nyilvántartásba bejegyzésre kerültek (együttesen a „Felépítmények”). A félreértések elkerülése végett a 'Telek Ingatlan' kifejezés nem foglalja magában a Felépítményeket.
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B Arconic previously submitted a request to the competent land registry office in order to have the buildings erected on the Plot Property registered as separate properties in accordance with Section 12 point a) subpoint aa) of Act CXLI of 1997 on the land registry and Section 59 paragraph (2) of FVM Regulation No. 109/1999 (XII.29.) on the implementation of Act CXLI of 1997 on the land registry. In accordance with Arconic's request, the buildings (collectively the "Buildings") have been registered under topographical lot numbers 9820/15/A through 9820/15/V in the land registry. For the sake of clarity, the term 'Plot Property' shall not include the Buildings.
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C Az Arconic tagjai 2019. szeptember 9. napján kiválási szerződést kötöttek, amely alapján kiválás jogcímen a Mill Products mint jogutód megszerezte az Arconic-tól mint jogelődtől a Telek Ingatlan 54/100 tulajdoni hányadát, valamint a 4. sz. mellékletben meghatározott Felépítmények (a "Mill Products Felépítmények") kizárólagos tulajdonjogát. A Felépítmények közül az 5. sz. mellékletben meghatározott Felépítmények (az "Arconic Felépítmények") továbbra is az Arconic kizárólagos (1/1 arányú) tulajdonában maradtak.
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C The quotaholders of Arconic signed a Secession Agreement dated 9 September 2019, according to which and under the legal title of secession, Mill Products, as legal successor, acquired from Arconic, as legal predecessor, the 54/100 property ratio of (interest in) the Plot Property, and the exclusive (1/1) ownership of the Buildings specified in Annex 4 (the "Mill Products Buildings"). The Buildings specified in Annex 5 (the "Arconic Buildings") remained the exclusive (1/1) property of Arconic.
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D A Felek rögzítik, hogy a jelen Szerződés aláírásával egyidejűleg (i) a Mill Products Felépítmények és az Arconic Felépítmények tekintetében földhasználati jogot alapító szerződéseket (együttesen "Földhasználati Jogot Alapító Szerződések"); továbbá (ii) egyes közmű és egyéb szolgáltatások tárgyában szolgáltatási szerződéseket (a "Szolgáltatási Szerződések") írtak (illetve írnak) alá egymással.
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D The Parties record that, simultaneously with the execution of this Agreement, they executed (or will execute) (i) land use right agreements with respect to the Mill Products Buildings and the Arconic Buildings (collectively the "Land Use Right Agreements") as well as (ii) various service contracts (collectively the "Service Contracts") with respect to certain public utility and other services on the Plot Property.
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E Tekintettel arra, hogy a Telek Ingatlan a Felek közös tulajdonában áll, a Felek, mint Tulajdonostársak szándéka, hogy a jelen Szerződésben foglalt feltételek szerint közöttük létrejött megegyezés és megállapodás útján közösen határozzák meg a Telek Ingatlan használatát.
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E Considering that the Plot Property is in the joint ownership of the Parties, it is the intention of the Parties as Co-Owners to jointly control the use of the Plot Property through consensus and agreement between them subject to the terms and conditions hereof.
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A FELEK AZ ALÁBBIAKBAN ÁLLAPODNAK MEG:
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IT IS AGREED BY THE PARTIES AS FOLLOWS:
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A TELEK INGATLAN HASZNÁLATA
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USE OF THE PLOT PROPERTY
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1.1 Közösen használt területek
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1.1 Commonly used areas
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(a) A jelen Szerződés aláírásával a Tulajdonostársak elismerik és elfogadják, hogy a Tulajdonostársak mindegyike jogosult az 1. sz. melléklet szerinti utak, járdák és egyéb gyalogutak használatára, a nap 24 órájában, az év 365 napján.
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(a) By signing this Agreement, the Co-Owners acknowledge and agree that each Co-Owner shall be entitled to use the roads, pavements and other footways indicated in Annex 1 attached hereto 24 hours a day, 365 days a year.
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(b) A fenti a) pont értelmében a 'Tulajdonostárs' magában foglalja a Tulajdonostárs bármely vezető tisztségviselőjét, munkavállalóját, megbízottját és vendégét, továbbá bármely olyan személyt, aki a Tulajdonostárs beleegyezésével vagy felhívására használja a Telek Ingatlant vagy azon tartózkodik.
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(b) For the purposes of point a) above, the term 'Co-Owner' shall also include any managers, employees, contractors and visitors of the Co-Owner as well as any other persons using or on the Plot Property with the consent or at the invitation of the Co-Owner.
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1.2 Kizárólagosan használt területek
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1.2 Exclusively used areas
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(a) A jelen Szerződés aláírásával a Tulajdonostársak elismerik és elfogadják, hogy Arconic kizárólagosan jogosult a 2. sz. melléklet szerinti, lilával kiemelt területek használatára, hasznosítására és hasznaiknak szedésére a nap 24 órájában, az év 365 napján az összes olyan út, járda és egyéb gyalogút kivételével, amelyet az 1.1. pont szerint mindkét Tulajdonostárs használhat.
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(a) By signing this Agreement, the Co-Owners acknowledge and agree that Arconic shall have the exclusive right to use, utilize and enjoy all benefits of the areas highlighted in purple in Annex 2 24 hours a day, 365 days a year, save any roads, pavements and other footways located on the same area which may be used by both Co-Owners commonly as set forth in Section 1.1.
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(b) A jelen Szerződés aláírásával a Tulajdonostársak elismerik és elfogadják, hogy a Mill Products kizárólagosan jogosult a 2. sz. melléklet szerinti, zölddel kiemelt területek használatára, hasznosítására és hasznaiknak szedésére a nap 24 órájában, az év 365 napján az összes olyan út, járda és egyéb gyalogút kivételével, amelyet az 1.1. pont szerint mindkét Tulajdonostárs használhat.
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(b) By signing this Agreement, the Co-Owners acknowledge and agree that Mill Products shall have the exclusive right to use, utilize and enjoy all benefits of the areas highlighted in green in Annex 2 24 hours a day, 365 days a year, save any roads, pavements and other footways located on the same area which may be used by both Co-Owners commonly as set forth in Section 1.1.
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(c) Az a) és b) pontok rendelkezéseitől függetlenül, a Mill Products kizárólagosan jogosult a 3. sz. melléklet szerint a Telek Ingatlanon található iparvágányok használatára, hasznosítására, hasznainak szedésére, a nap 24 órájában, az év 365 napján.
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(c) Notwithstanding the provisions of points a) and b) above, Mill Products shall have the exclusive right to use, utilize and enjoy all benefits of all industrial rail tracks located on the Plot Property as shown in Annex 3 24 hours a day, 365 days a year.
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(d) A fenti a) pont értelmében az 'Arconic' magában foglalja az Arconic bármely vezető tisztségviselőjét, munkavállalóját, megbízottját és vendégét, továbbá bármely olyan személyt, aki a Tulajdonostárs beleegyezésével vagy felhívására használja a Telek Ingatlant vagy azon tartózkodik.
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(d) For the purposes of point a) above, the term 'Arconic' shall also include any managers, employees, contractors and visitors of Arconic as well as any other persons using or on the Plot Property with the consent or at the invitation of Arconic.
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(e) A fenti b) pont értelmében a 'Mill Products' magában foglalja a Mill Products bármely vezető tisztségviselőjét, munkavállalóját, megbízottját és vendégét, továbbá bármely olyan személyt, aki a Tulajdonostárs beleegyezésével vagy felhívására használja a Telek Ingatlant vagy azon tartózkodik.
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(e) For the purposes of points b) and c) above, the term 'Mill Products' shall also include any managers, employees, contractors and visitors of Mill Products as well as any other persons using or on the Plot Property with the consent or at the invitation of Mill Products.
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1.3 A Tulajdonostársak rögzítik, hogy a jelen Szerződés aláírásának napján a 2. sz. melléklet szerinti, pirossal kiemelt területeket a Hydro Extrusion Hungary Korlátolt Felelősségű Társaság (székhelye: 8000 Székesfehérvár, Verseci u. 1-15.; cégjegyzékszáma: 07-09-012901; adószáma: 13913483-2-07; statisztikai számjele: 13913483-2550-113-07) használja, a Tulajdonostársakkal kötött különböző bérleti szerződések alapján.
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1.3 The Co-Owners record that as of the execution of this Agreement the areas marked in red in Annex 2 are used by Hydro Extrusion Hungary Korlátolt Felelősségű Társaság (registered seat: 8000 Székesfehérvár, Verseci u. 1-15.; company registration number: 07-09-012901; tax number: 13913483-2-07; statistical identification number: 13913483-2550-113-07) under various lease agreements entered into with the Co-Owners.
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1.4 A Telek Ingatlan fejlesztésével és használatával kapcsolatos összes kérdéshez, beleértve bármely tervezett építési munkát, a Tulajdonostársak egyhangú határozata szükséges beleértve - az előbbiek általános érvényének korlátozása nélkül - a Telek Ingatlanon építeni tervezett bármely új felépítmény helyszínét, műszaki leírását és jogi helyzetét. Bármely Tulajdonostárs kérheti a másik Tulajdonostárs jóváhagyását, engedélyét vagy hozzájárulását a Telek Ingatlan használatával vagy fejlesztésével kapcsolatos javasolt intézkedéshez. Valamennyi jelen Szerződés szerinti esetben, amikor a Telek Ingatlan fejlesztésével vagy használatával kapcsolatos javasolt intézkedéshez valamely Tulajdonostárs jóváhagyása, engedélye vagy hozzájárulása szükséges, a jóváhagyás, engedély vagy hozzájárulás megadottnak tekintendő, kivéve ha a tiltakozó Tulajdonostárs a jóváhagyás, engedély vagy hozzájárulás iránti kérelem kézhezvételétől számított 30 napon belül a javasolt intézkedés ellen a tiltakozás okát is megjelölő írásos kifogást terjeszt elő. A jelen Szerződés hatálya alatt a Felek törekednek arra, hogy a Telek Ingatlant a jelen Szerződés aláírása időpontjában fennálló tulajdoni hányaduknak megfelelően fejlesszék.
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1.4 All questions affecting the development or use of the Plot Property, including any contemplated construction works, shall be determined by unanimous agreement of the Co-Owners including, without limiting the generality of the foregoing, the location, technical specifications and legal status of any new buildings intended to be erected on the Plot Property. Any Co-Owner may request from the other Co-Owner its approval, authorization or consent to any proposed action concerning the development or use of the Plot Property. In any instance under this Agreement, in which the approval, authorization or consent of any of the Co-Owners to any proposed action concerning the development or use of the Plot Property is requested, such approval, authorization or consent shall be deemed to have been given unless written objection to such proposed action setting out the grounds for such objection is given by the objecting Co-Owner to the other Co-Owner within 30 days of receipt of the written request for such approval, authorization or consent. The Parties shall endeavour throughout the term of this Agreement to ensure that they shall each develop the Plot Property to an extent which reflects their co-ownership interests (property ratios) as at the execution of this Agreement.
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1.5 A Tulajdonostársak megállapodnak, hogy a jelen Szerződés szerinti jogaik gyakorlása során tartózkodnak egymás szükségtelen háborításától és jóhiszeműen együttműködnek egymással, valamint az ésszerű legnagyobb gondosság mellett segítséget nyújtanak egymásnak a jelen Szerződés hatálya alatt.
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1.5 The Co-Owners agree that, when exercising their rights granted in this Agreement, they shall refrain from each other's unnecessary disturbance and shall cooperate with each other in good faith and use their reasonable best efforts to assist each other during the term of this Agreement.
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1.6 A Tulajdonostársak kötelesek betartani a Telek Ingatlan tekintetében közösen elfogadott szabályzatokat, és ezek Tulajdonostársak egyhangú határozata általi esetleges módosításait, kiegészítéseit. Emellett a Tulajdonostársak kötelesek bármely olyan személlyel, aki a Tulajdonostárs beleegyezésével vagy felhívására használja a Telek Ingatlant, vagy azon tartózkodik, betartatni a jelen Szerződést és a közösen elfogadott szabályzatokat, beleértve ezek Tulajdonostársak egyhangú határozata általi esetleges módosításait, kiegészítéseit.
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1.6 The Co-Owners shall comply with the mutually adopted rules and regulations applicable to the Plot Property, including all such amendments or additions thereto as may from time to time be unanimously agreed to by the Co-Owners. Further, the Co-Owners shall ensure that all persons using or on the Plot Property with the consent of or at the invitation of a Co-Owner shall comply with the terms of this Agreement and those of the mutually adopted rules and regulations, including all such amendments or additions thereto as may from time to time be unanimously agreed to by the Co-Owners.
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1.7 Az egyértelműség kedvéért a jelen Szerződés aláírása és teljesítése, valamint a Tulajdonostársak Polgári Törvénykönyvről szóló 2013. évi V. törvény (a "Ptk.") 5:73. §-a szerinti tulajdonostársi kapcsolata nem hoz létre a Tulajdonostársak között társulást vagy bármely más társaságot.
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1.7 For the sake of clarity, the execution and performance of this Agreement shall not create nor shall the relationship of the Co-Owners as co-owners under section 5:73 of Act V of 2013 on the Civil Code (the "Civil Code") constitute a partnership between the Co-Owners or any agency whatsoever.
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2. KÖLTSÉGEK ÉS SZOLGÁLTATÁSOK
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2. COSTS AND SERVICES
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2.1 A Tulajdonostársak eltérő írásos megállapodásának hiányában a Telek Ingatlannal összefüggő összes költséget és díjat (korlátozás nélkül beleértve az összes javítási és karbantartási költséget, telekadót és biztosítási díjat) a Tulajdonostársak tulajdoni hányadaik arányában viselnek.
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2.1 Unless otherwise agreed by the Co-Owners in writing, any and all costs and fees (also including, without limitation, any and all repair and maintenance costs, property taxes and insurance fees) related to the Plot Property shall be borne by all Co-Owners in proportion of their co-ownership interests (property ratios).
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2.2 Bármely Tulajdonostárs felhívás útján követelheti azon Tulajdonostárstól, aki nem fizette meg a 2.1. pontban meghatározott költségek és díjak rá eső részét, hogy a Tulajdonostárs a felhívás kézhezvételétől számított 15 napon belül fizesse meg az összes költség rá eső részét.
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2.2 Each Co-Owner may demand by notice from the other Co-Owner that has not paid its share of the costs and fees specified in Section 2.1 that that Co-Owner pay its proportionate portion of any of the costs within 15 days of the receipt of the notice.
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2.3 A Tulajdonostársak rögzítik, hogy a jelen Szerződés aláírásával egyidejűleg megkötötték a Szolgáltatási Szerződéseket a Telek Ingatlannal kapcsolatos egyes közmű és egyéb szolgáltatásokra vonatkozóan (mind a közös, mind a kizárólagos használatú területekre kiterjedően).
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2.3 The Co-Owners record that, simultaneously with the execution of this Agreement, they entered into the Service Contracts regarding certain public utility and other services related to the Plot Property (including both the commonly used and the exclusively used areas).
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3. HATÁLY
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3. EFFECT
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3.1 A jelen Szerződés annak mindkét Fél általi aláírásával lép hatályba, és a Tulajdonostársak Telek Ingatlanon fennálló tulajdoni hányadának fennállásáig áll fenn.
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3.1 This Agreement shall enter into force upon execution by both Parties and shall continue to exist until the Co-Owners retain their interests to the Plot Property.
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3.2 A Felek kötelezettséget vállalnak arra, hogy a jelen Szerződésben foglaltak érvényesülése érdekében a Telek Ingatlant (az itt meghatározott korlátozások keretein belül) csak úgy adják el vagy ruházzák át más módon, vagy adják más birtokába, használatába, hogy a jelen Szerződésben foglaltakról a Telek Ingatlan (vagy annak része) használatára bármely jogcímen jogosulttá váló új személyt megfelelően tájékoztatják, és biztosítják, hogy az érintett személy vállalja a jelen Szerződésben rögzített kötelezettségeket és azoknak eleget tesz.
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3.2 The Parties undertake that in order for the provisions of this Agreement to prevail, they will only sell or otherwise transfer possession or use of the Plot Property (subject to the limitations set forth herein) after properly informing the person newly entitled to use the Plot Property (or any part thereof), under any legal title, of the provisions of this Agreement and after ensuring that such person agrees to enter into, and comply with the terms of this Agreement.
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4. TÖRVÉNYEN ALAPULÓ ELŐVÁSÁRLÁSI JOG
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4. STATUTORY RIGHT OF FIRST REFUSAL
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4.1 A Tulajdonostársak tudomással bírnak arról, hogy a Ptk. 5:81. §-a szerint a Tulajdonostárs Telek Ingatlanon fennálló tulajdoni hányadára a másik Tulajdonostársat elővásárlási, előbérleti és előhaszonbérleti jog illeti meg (együttesen "Elővásárlási Jog") harmadik személyekkel szemben.
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4.1 The Co-Owners are aware that, according to section 5:81 of the Civil Code, in relation to a Co-Owner's interest to the Plot Property, the other Co-Owner shall have a right of pre-emption and a right of first refusal for lease or tenancy (together the "Right of First Refusal") before any third parties.
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4.2 Az Elővásárlási Jog gyakorlása tekintetében a Tulajdonostársak az alábbiakban állapodnak meg:
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4.2 Regarding the exercise of the Right of First Refusal, the Co-Owners agree as follows:
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(a) Az elővásárlási jog gyakorlására felhívó nyilatkozatot a kötelezett Tulajdonostársnak írásban kell eljuttatnia a jogosult Tulajdonostárs közhiteles nyilvántartás(ok)ból kitűnő székhelyére, csatolva a vételi ajánlatot tett harmadik személy által és a Kötelezett Tulajdonostárs által is jóváhagyott adásvételi vagy bérleti szerződést vagy az adásvételi vagy bérleti szerződésre vonatkozó lényeges elemeket tartalmazó szándéknyilatkozatot;
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(a) The obliged Co-Owner shall send the notice calling on the beneficiary Co-Owner to exercise the Right of First Refusal to the beneficiary Co-Owner's registered seat as indicated in official public register(s), attaching either the SPA or lease agreement (as the case may be) approved by the obliged Co-Owner and the third party making an offer or a letter of intent issued by the third party making an offer and containing the main terms of the sale and purchase or the lease agreement (as the case may be);
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(b) A jogosult Tulajdonostárs az elővásárlási jogát a kötelezett Tulajdonostárs nyilatkozatának kézhezvételétől számított 30 napon belül jogosult írásban megtenni, oly módon, hogy az elővásárlási jogot gyakorló nyilatkozatát ezen 30 napos határidőn belül írásban köteles eljuttatni a kötelezett Tulajdonostárs közhiteles nyilvántartás(ok)ból kitűnő székhelyére.
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(b) Within 30 days of receiving the obliged Co-Owner's statement, the beneficiary Co-Owner shall have the right to exercise the Right of First Refusal in written form by sending its statement, exercising the Right of First Refusal, within these 30 days in written form to the obliged Co-Owner's seat as indicated in official public register(s).
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(c) Az elővásárlási jog gyakorlásáról való lemondásnak kell tekinteni, ha a jogosult Tulajdonostárs a fenti 30 napos határidőn belül nem juttatja el az elővásárlási jog gyakorlásáról szóló nyilatkozatát a kötelezett Tulajdonostárs közhiteles nyilvántartás(ok)ból kitűnő székhelyére.
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(c) Should the entitled Co-Owner fail to send its statement about the exercise of the Right of First Refusal within the 30-day deadline mentioned above to the obliged Co-Owner's registered seat indicated in official public register(s), it shall be deemed as a waiver of the Right of First Refusal.
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5. ÉRTESÍTÉSEK
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5. NOTICES
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5.1 A jelen Szerződésben meghatározott, és az annak alapján küldendő értesítéseket, felhívásokat írásba kell foglalni és a Felek közhiteles nyilvántartás(ok)ból kitűnő mindenkori székhelyére kell megküldeni átvételi elismervénnyel igazolt közvetlen kézbesítés vagy tértivevényes ajánlott levél útján.
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5.1 Notices defined and to be sent under this Agreement shall be made in writing and sent through personal delivery with a signed confirmation of receipt or in the form of registered mail with acknowledgement of receipt requested, to the Parties' respective registered seats indicated in official public registers.
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5.2 A Felek az egymással való kapcsolattartásra a következő személyeket jelölik ki:
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5.2 The Parties appoint the following contact persons:
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Az Arconic részéről: Szabó Ferenc
Cím: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: ferenc.szabo@howmet.com
A Mill Products részéről: Varga Zsuzsa
Cím: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: zsuzsa.varga@arconic.com
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On behalf of Arconic: Ferenc Szabó
Address: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: ferenc.szabo@howmet.com
On behalf of Mill Products: Zsuzsa Varga
Address: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: zsuzsa.varga@arconic.com
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5.3 A Felek részére elküldött értesítést a következő időpontokban kell kézbesítettnek tekinteni: (i) személyes kézbesítés esetén akkor, amikor a küldeményt az adott Félnek átadják; (ii) postázás esetén az igazolt kézbesítéskor azzal, hogy az értesítést akkor is kézbesítettnek kell tekinteni, ha a tértivevény „átvételt megtagadta”, „nem kereste”, „elköltözött”, illetve „ismeretlen” vagy ezekkel egyenértékű egyéb jelzéssel érkezik vissza. Ha a személyes vagy futár útján történő kézbesítés a fenti címen a munkanapokon 9-16 óráig azért volt sikertelen, mert a címzett nem volt elérhető vagy a küldemény átvételét megtagadta, a küldeményt a kézbesítés megkísérlésének napját követő munkanapon kell kézbesítettnek tekinteni. Az e-mail útján közölt értesítés nem minősül írásbeli közlésnek, és semmilyen körülmények között nem válik joghatályossá.
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5.3 Any notice sent to a Party shall be deemed delivered when: (i) it is delivered to the given party in case of personal delivery; (ii) acknowledged by the receipt in case of delivery by post. Notices shall be deemed delivered even if the acknowledgement of receipt is returned with any of the indications "refused", "unclaimed", "moved", "unknown" or any equivalent indication. If the delivery was unsuccessful at the addresses above on working days between 9 am and 4 pm because the recipient was not available or refused the reception of the consignment, the consignment shall be deemed to be delivered on the working day after the day of the attempted delivery. Notices delivered by e-mail shall not be considered as written notices and shall not be effective under any circumstances.
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6. A SZERZŐDÉS MÓDOSÍTÁSA
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6. AMENDMENT
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A jelen Szerződés csak akkor módosítható, ha a módosítást mindkét Fél írásban elfogadja.
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This Agreement may only be amended by both Parties in writing.
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7. RÉSZLEGES ÉRVÉNYTELENSÉG
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7. PARTIAL INVALIDITY
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Amennyiben a jelen Szerződés valamely rendelkezését részben vagy egészben jogellenesnek, érvénytelennek vagy végrehajthatatlannak nyilvánítják, az semmilyen módon nem befolyásolja vagy érinti hátrányosan a jelen Szerződés többi rendelkezésének jogszerűségét, érvényességét és végrehajthatóságát.
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Should any provision of this Agreement be partially or entirely declared illegal, invalid or unenforceable, it does not in any way influence or adversely affect the legality, validity or enforceability of the remaining provisions of this Agreement.
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8. JOG
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8. GOVERNING LAW
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A jelen Szerződés és az abból eredő vagy azzal összefüggő valamennyi kérdésre (korlátozás nélkül beleértve bármely szerződéses vagy nem szerződésen alapuló kötelezettséget) Magyarország joga alkalmazandó és a Szerződés annak alapján értelmezendő, azzal hogy a Felek kizárják bármely olyan kollíziós jogszabály alkalmazását, amely Magyarországon kívül bármely más jogrendszer szabályainak alkalmazását eredményezné.
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This Agreement and all the questions resulting from or in connection with it (including, without limitation, any contractual or non-contractual obligation) are governed by Hungarian law and the Agreement shall be interpreted according to it, with the proviso, that the Parties exclude the application of any conflict-of-law rules which would result in the application of any other legal system other than the Hungarian.
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9. JOGUTÓDLÁS
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9. LEGAL SUCCESSION
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A jelen Szerződés hasznai és terhei a Felek jogutódaira és engedményeseire átszállnak, és azokat közvetlenül jogosítják és kötelezik. Mindkét Fél köteles gondoskodni arról, hogy jogutódja félként belép a jelen Szerződésbe.
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The rights and obligations under this Agreement shall transfer, give entitlement to and oblige directly the Parties' legal successors and assignees. Each Party shall be obliged to procure that their legal successor will become a party to this Agreement.
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10. NYELV
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10. GOVERNING LANGUAGE
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A jelen Szerződést a Felek magyar és angol nyelven írták alá, a két változat közötti bármely eltérés esetén a magyar nyelvű változat az irányadó.
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The Parties signed this Agreement in Hungarian and English; in case there is any discrepancy between the two versions, the Hungarian version shall prevail.
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11. KIJELENTÉSEK ÉS SZAVATOSSÁGVÁLLALÁSOK
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11. REPRESENTATIONS AND WARRANTIES
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Arconic kijelenti és szavatolja, hogy Magyarország területén jogszerűen bejegyzett gazdasági társaság és a jelen Szerződés megkötéséhez való jogosultsága semmilyen korlátozás alá nem esik. Mill Products kijelenti, hogy Magyarország területén jogszerűen bejegyzett gazdasági társaság és a jelen Szerződés megkötéséhez való jogosultsága semmilyen korlátozás alá nem esik.
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Arconic represents and warrants that it is a legally registered business association in Hungary and its right to sign this Agreement is not subject to any restrictions. Mill Products represents and warrants that it is a legally registered business association in Hungary and its right to sign this Agreement is not subject to any restrictions.
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12. EGYÉB RENDELKEZÉSEK
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12. MISCELLANEOUS
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12.1 Amennyiben a Tulajdonostársak egyhangúan a Telek Ingatlan átruházásáról határoznak, a Telek Ingatlan adásvételéből származó bevételt a Tulajdonostársak tulajdoni hányadának arányában kell szétosztani.
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12.1 If, at any time, the Co-Owners shall unanimously agree to sell the entire Plot Property, the sale proceeds derived from the Plot Property shall be distributed to the Co-Owners in proportion to their co-ownership interests (property ratios).
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12.2 A jelen Szerződés és a Földhasználati Jogot Alapító Szerződések bármelyikének rendelkezései közti bármely eltérés esetén utóbbi rendelkezései az irányadóak.
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12.2 In the case of any discrepancy between the provisions of this Agreement and those of any of the Land Use Right Agreements, the provisions of the latter shall prevail.
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12.3 Bármely Tulajdonostárs által a másik Tulajdonostárs kötelezettségeinek megszegéséhez vagy az azok teljesítésével való késedelemhez kifejezetten vagy hallgatólagosan adott hozzájárulás, vagy ezzel kapcsolatos jogról való lemondás nem értelmezhető a Tulajdonostárs bármely más kötelezettségének megszegéséhez, vagy az annak teljesítésével való késedelemhez adott hozzájárulásnak, vagy ezzel kapcsolatos jogról való lemondásnak.
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12.3 No consent or waiver, expressed or implied by any Co-Owner of any breach or default by a Co-Owner in the performance by the other Co-Owner of its obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance by such Co-Owner hereunder.
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A Felek kijelentik, hogy a jelen Szerződésben foglaltak az akaratuknak minden tekintetben megfelelnek.
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The Parties declare that the content of this Agreement corresponds with their contractual will in all respects.
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Mellékletek:
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Annexes:
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1. sz. melléklet: Utak, járdák és egyéb gyalogutak
2. sz. melléklet: Kizárólagosan használt területek
3. sz. melléklet: Iparvágányok
4. sz. melléklet: A Mill Products Felépítmények listája
5. sz. melléklet: Az Arconic Felépítmények listája
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Annex 1: Roads, pavements and other footways
Annex 2: Exclusively used areas
Annex 3: Industrial rail tracks
Annex 4: List of the Mill Products Buildings
Annex 5: List of the Arconic Buildings
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[ Aláírások a következő oldalon. ]
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[ Signatures on next page. ]
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Székesfehérvár, 2020. január 6. napján
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Székesfehérvár, 6 January 2020
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______________________________________
Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság
Tulajdonostárs
Képviseli: Katus István Gábor, ügyvezető
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Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság
Co-Owner
Represented by: István Gábor Katus, managing director
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Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság
Tulajdonostárs
Képviseli: Gábor Balázs, ügyvezető
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______________________________________
Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság
Co-Owner
Represented by: Balázs Gábor, managing director
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DÁTUM
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2020 január 6.
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DATED
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6 January 2020
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(1) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
- és -
(2) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
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(1) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
- and -
(2) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
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FÖLDHASZNÁLATI JOGOT SZABÁLYOZÓ SZERZŐDÉS
a Székesfehérvár belterület 9820/15 helyrajzi szám alatt bejegyzett ingatlan vonatkozásában
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LAND USE RIGHT AGREEMENT
relating to the property registered under the land registry number Székesfehérvár urban zone 9820/15
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TARTALOMJEGYZÉK
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CONTENTS
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1.FÖLDHASZNÁLATI JOG 5
2.A FÖLDHASZNÁLATI JOG TARTAMA ÉS MEGSZŰNÉSE 10
3.TÖRVÉNYEN ALAPULÓ ELŐVÁSÁRLÁSI JOG 10
4.ÉRTESÍTÉSEK 11
5.A SZERZŐDÉS MÓDOSÍTÁSA 12
6.RÉSZLEGES ÉRVÉNYTELENSÉG 12
7.JOG 13
8.JOGUTÓDLÁS 13
9.NYELV 13
10.MAGYAR JOGI SZEMÉLYEK 13
11.MEGHATALMAZÁS 14
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1.LAND USE RIGHT 5
2.DURATION OF THE LAND USE RIGHT AND ITS EXPIRY 10
3.STATUTORY RIGHT OF FIRST REFUSAL 10
4.NOTICES 11
5.AMENDMENT 12
6.PARTIAL INVALIDITY 12
7.GOVERNING LAW 13
8.LEGAL SUCCESSION 13
9.GOVERNING LANGUAGE 13
10.HUNGARIAN LEGAL PERSONS 13
11.POWER OF ATTORNEY 14
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A JELEN SZERZŐDÉS 2020. január 6. napján jött létre
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THIS AGREEMENT is made on 6 January 2020
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AZ ALÁBBI FELEK KÖZÖTT:
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BETWEEN:
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(1) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (székhelye: 8000 Székesfehérvár, Verseci u. 1-15.; cégjegyzékszáma: 07-09-030481; adószáma: 27104705-2-07; statisztikai számjele: 27104705-2442-113-07) („Mill Products”); ÉS
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(1) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (registered seat: 8000 Székesfehérvár, Verseci u. 1-15.; company registration number: 07-09-030481; tax number: 27104705-2-07; statistical identification number: 27104705-2442-113-07) („Mill Products”); AND
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(2) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (SZÉKHELYE: 8000 SZÉKESFEHÉRVÁR, VERSECI U. 1-15.; CÉGJEGYZÉKSZÁMA: 07-09-001598; ADÓSZÁMA: 10584215-2-07; STATISZTIKAI SZÁMJELE: 10584215-2442-113-07) („ARCONIC”)
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(2) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (REGISTERED SEAT: 8000 SZÉKESFEHÉRVÁR, VERSECI U. 1-15.; COMPANY REGISTRATION NUMBER: 07-09-001598; TAX NUMBER: 10584215-2-07; STATISTICAL IDENTIFICATION NUMBER: 10584215-2442-113-07) („ARCONIC”)
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(Arconic és Mill Products megnevezése a továbbiakban külön-külön „Fél”, együttesen „Felek”).
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(Mill Products and Arconic are hereinafter individually referred to as a "Party" and collectively referred to as the "Parties").
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ELŐZMÉNYEK:
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BACKGROUND:
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A Felek rögzítik, hogy az Arconic 46/100 arányú tulajdonát és a Mill Products 54/100 tulajdonát képezi az ingatlan-nyilvántartásban a Székesfehérvár belterület 9820/15 helyrajzi szám alatt bejegyzett ingatlan ("Telek Ingatlan").
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The Parties record, that the Property registered under the land registry number Székesfehérvár urban zone 9820/15 ("Plot Property") is owned by Arconic in a 46/100 ratio and by Mill Products in a 54/100 ratio.
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B Az Arconic korábban kérelmet nyújtott be az illetékes ingatlan-nyilvántartási hatósághoz annak érdekében, hogy a Telek Ingatlanon található 66 darab felépítmény önálló ingatlanokként az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény 12. § a) pontjának aa) alpontja és az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény végrehajtásáról szóló 109/1999 (XII.29.) FVM rendelet 59. § (2) bekezdése alapján bejegyeztesse az ingatlan-nyilvántartásba. A felépítmények az Arconic kérelmének megfelelően a 2. sz. melléklet szerinti helyrajzi számok alatt önálló helyrajzi számmal rendelkező felépítményként az ingatlan-nyilvántartásba bejegyzésre kerültek (együttesen a „Felépítmények”).
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B Previously, Arconic submitted a request to the competent land registry office in order to have the 66 buildings on the Plot Property registered as separate properties in accordance with Section 12 point a) subpoint aa) of Act CXLI of 1997 on the land registry and Section 59 paragraph (2) of FVM Regulation no 109/1999 (XII.29.) on the implementation of Act CXLI of 1997 on the land registry. In accordance with Arconic's request, the buildings have been registered under the topographical lot numbers listed in Annex 2 in the land registry as buildings with separate land registry numbers (collectively the „Buildings”).
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C Az Arconic tagjai 2019. szeptember 9. napján kiválási szerződést kötöttek, amely alapján kiválás jogcímen a Mill Products mint jogutód megszerezte az Arconic-tól mint jogelődtől a Telek Ingatlan 54/100 tulajdoni hányadát, valamint a 3. sz. melléklet szerinti helyrajzi számú ingatlanok (a "Mill Products Felépítmények") kizárólagos tulajdonjogát. A Felépítmények közül a 4. sz. melléklet szerinti helyrajzi számú Felépítmények (az "Arconic Felépítmények") továbbra is az Arconic kizárólagos tulajdonában maradtak. A Felek rögzítik továbbá, hogy jelen Szerződés megkötésével egyidejűleg vagy ahhoz közeli időpontban (i) a Telek Ingatlan használatának megosztása tárgyában használati megosztási megállapodást (a "Használati Szerződés"); (ii) egyes közmű és egyéb szolgáltatások tárgyában pedig szolgáltatási szerződéseket (a "Szolgáltatási Szerződések") is szándékoznak kötni egymással.
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C The shareholders of Arconic signed a Demerger Deed dated 9 September 2019, according to which under the legal title of secession Mill Products, as the legal successor, acquired from Arconic, as legal predecessor, the 54/100 property ratio of the Plot Property, and the exclusive ownership of the properties registered under topographical lot numbers listed in Annex 3 (the "Mill Products Buildings"). The Buildings registered under topographical lot numbers listed in Annex 4 (the "Arconic Buildings") remain the exclusive property of Arconic. The Parties record that simultaneously with, or close in time to, the execution of this Agreement, they intend to sign (i) an agreement sharing the right of use of the Plot Property (the "Use Agreement"); and (ii) service contracts regarding certain public utilities and other services (the "Service Contracts").
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D Tekintettel arra, hogy a Telek Ingatlan a Felek közös tulajdonában áll, míg az Arconic Felépítmények az Arconic kizárólagos tulajdonában állnak, a Felek az Arconic Felépítmények javára és a Telek Ingatlan terhére a törvény erejénél fogva létrejött földhasználati jogot a jelen Szerződésben kívánják szabályozni.
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D Considering that the Plot Property is in the joint ownership of the Parties, while the Arconic Buildings are the exclusive properties of Arconic, the Parties wish to regulate in this Agreement the land use right existing by virtue of law for the benefit of the Arconic Buildings and encumbering the Plot Property.
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A FELEK AZ ALÁBBIAKBAN ÁLLAPODNAK MEG:
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IT IS AGREED:
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FÖLDHASZNÁLATI JOG
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LAND USE RIGHT
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1.1 A Felek rögzítik, hogy a törvény erejénél fogva földhasználati jog („Földhasználati Jog”) áll fenn a 4. sz. mellékletben felsorolt Arconic Felépítmények mindenkori tulajdonosa javára. Az egyes Arconic Felépítmények Telek Ingatlanon belüli elhelyezkedését („Földhasználati Joggal Érintett Terület”) a jelen Szerződés 1. sz. mellékleteként csatolt vázrajz („Vázrajz”) mutatja. Az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény végrehajtásáról szóló 109/1999 (XII.29.) FVM rendelet 9/A. § (2) bekezdésben foglaltaknak megfelelően a Földhasználati Jog gyakorlásának szabályozása körében a Felek a jelen Szerződésben foglaltaknak megfelelően állapodnak meg a Földhasználati Jog terjedelmében.
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1.1 The Parties record that a land use right ("Land Use Right") exists, by virtue of law, in favour of the owner of the Arconic Buildings as listed in Annex 4. The location of the Arconic Buildings within the Plot Property ("Area Covered by the Land Use Right") is indicated on the layout ("Layout") attached to this Agreement as Annex 1. In accordance with Section 9/A paragraph (2) of FVM Regulation no 109/1999 (XII.29.) on the implementation of Act CXLI 1997 on the land registry the Parties regulate the Land Use Right in detail in this Agreement.
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1.2 A Felek egyezően kijelentik, hogy a Földhasználati Jog gyakorlására vonatkozó szabályokat a jelen Szerződésben határozzák meg, melyre tekintettel kérik a Tisztelt Földhivatalt, hogy az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény végrehajtásáról szóló 109/1999. (XII.29.) FVM rendelet 34. §-a alapján a földhasználati jog gyakorlása szerződéses szabályozásának tényét az ingatlan-nyilvántartásba a Telek Ingatlan és az Arconic Felépítmények tulajdoni lapjain feljegyezni szíveskedjen, mely feljegyzéshez a Felek ezennel kifejezett, feltétlen és visszavonhatatlan hozzájárulásukat adják.
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1.2 The Parties declare, that they set out the rules regulating the exercise of the Land Use Right in this Agreement, and therefore, they request the Honorable Land Registry Office to record the fact of the contractual regulation of the land use right on the title deeds of the Plot Property and the Arconic Buildings in accordance with FVM Regulation no 109/1999. (XII.29.) on the implementation of Act CXLI of 1997 on the land registry, to which recording the Parties hereby grant their express, unconditional and irrevocable consent.
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1.3 Addig a napig, amíg az Arconic Felépítmények vagy azok bármelyike a Vázrajzon meghatározott területen áll, az Arconic-nak, illetve az Arconic Felépítmények mindenkori tulajdonosainak kizárólagos joguk van ahhoz, hogy a Földhasználati Joggal Érintett Területet és az Arconic Felépítményeket használják, hasznosítsák, előnyeit élvezzék. Az Arconic Felépítményekkel kapcsolatos mindennemű költséget és kiadást az Arconic és jogutódai viselnek.
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1.3 Until the day the Arconic Buildings or any of them stand on the area set out on the Layout, Arconic and the then current owners of the Arconic Buildings have the exclusive right to use, utilize and enjoy all benefits of the Area Covered by the Land Use Right and the Arconic Buildings. Any costs and expenses associated with the Arconic Buildings shall be borne by Arconic and its legal successors.
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1.4 Átjárási jog
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1.4 Right of way
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(a) A Felek ezennel megállapodnak, hogy az Arconic Felépítmények és a Földhasználati Joggal Érintett Terület rendeltetésszerű használata által megkívánt mértékben az Arconic Felépítmények mindenkori tulajdonosa, birtokosa és vendégei jogosultak a Telek Ingatlanon zavartalanul ingyenesen átjárni napi 24 (huszonnégy) órában, évi 365 (háromszázhatvanöt) napon.
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(a) The Parties hereby agree, that to the extent required for the proper use of the Arconic Buildings and the Area Covered by the Land Use Right, the respective owners, possessors and guests of the Arconic Buildings are entitled to pass through the Plot Property undisturbed, free of charge 24 (twenty-four) hours a day, 365 (three hundred and sixty-five) days a year.
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(b) A Felek megállapodnak abban, hogy az Arconic Felépítmények mindenkori tulajdonosai, birtokosai és vendégei az (a) pont szerinti ingyenes átjárási jogot kizárólag a Telek Ingatlan mindenkori tulajdonosai, birtokosai és használói érdekeinek kíméletével, a Telek Ingatlanon és Mill Products Felépítményekben folytatott tevékenység szükségtelen zavarása nélkül gyakorolhatják. A Felek rögzítik, hogy a Telek Ingatlanon található közlekedési infrastruktúra karbantartása és javítása a Telek Ingatlan azon mindenkori tulajdonosának a kötelezettsége, akihez azt a Használati Szerződés telepíti.
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(b) The Parties agree, that the respective owners, possessors and guests of the Arconic Buildings shall exercise their free of charge right of way granted in point (a) only with respecting the interests of the respective owners, possessors and users of the Plot Property, and without the unnecessary disturbance of the activity on the Plot Property and in the Mill Products Buildings. The Parties record, that the maintenance and the service of the transport infrastructure on the Plot Property is the obligation of that respective owner of the Plot Property, to whom the Use Agreement allocates it.
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1.5 Tűzvédelmi menekülési útvonal
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1.5 Fire protection escape routes
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(a) A Felek a jogutódaikra is kiterjedő hatállyal ezennel megállapodnak, hogy az Arconic Felépítmények tűzvédelmi jogszabályi és hatósági előírásoknak megfelelő menekülési útvonala biztosítása érdekében az Arconic Felépítmények mindenkori tulajdonosai, birtokosai, használói jogosultak Telek Ingatlan közterületre nyíló legközelebbi kijáratához vezető útvonalat tűzvédelmi menekülési útvonal biztosítása céljából - a tűzvédelmi jogszabályi és hatósági előírásoknak való megfeleléshez és tűz valamint tűzvédelmi gyakorlat esetén meneküléshez (a "Menekülési Útvonal") a szükséges mértékben ingyenesen használni és azt igénybe venni.
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(a) The Parties, also binding their legal successors, agree, that in order to ensure an escape route for the Arconic Buildings in compliance with the legal and regulatory fire protection provisions, the respective owners, possessors and users of the Arconic Buildings are entitled to use and make use of the Plot Property's route leading to the nearest exit to a public area, free of charge and to the extent necessary, in order to ensure a fire protection escape route - to comply with the legal and regulatory fire protection provisions and for escaping in case of a fire or a fire drill ("Escape Route").
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(b) Az (a). pont alapján a Telek Ingatlan mindenkori tulajdonosai kötelesek minden tőlük ésszerűen elvárhatót megtenni annak érdekében, hogy a Menekülési Útvonal zavartalanul, és a jogszabályi és hatósági előírásoknak megfelelően az Arconic Felépítmények számára biztosítottak legyenek. A Telek Ingatlan mindenkori tulajdonosai kötelesek bármely hatósági eljárásban az Arconic Felépítmények mindenkori tulajdonosai kérésére írásban nyilatkozni arról, hogy az Arconic Felépítmények mindenkori tulajdonosai, birtokosai, használói jogosultak a Menekülési Útvonalat a tűzvédelmi jogszabályi és hatósági előírásoknak való megfeleléshez szükséges mértékben ingyenesen használni és azt igénybe venni.
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(b) With respect to point (a) above, the owners of the Plot Property are obliged to take every step which could reasonably be required in order to secure and provide the Escape Route for the Arconic Buildings without any disturbance and in compliance with the legal and regulatory provisions. The respective owners of the Plot Property are obliged to provide a written declaration in any administrative procedure, at the request of the respective owners of the Arconic Buildings confirming that the respective owners, possessors and users of the Arconic Buildings are entitled to use and make use of the Escape Route free of charge and to the extent necessary to comply with the legal and regulatory fire protection provisions.
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1.6 Az Arconic Felépítmények közműellátásának biztosítása
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1.6 Ensuring the public utility supply of the Arconic Buildings
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(a) A Felek a jogutódaikra is kiterjedő hatállyal ezennel megállapodnak, hogy az Arconic Felépítmények közműellátása biztosítása érdekében a Telek Ingatlan mindenkori tulajdonosai kötelesek lehetővé tenni, hogy az Arconic Felépítmények azok mindenkori tulajdonosainak költségviselése mellett csatlakozzanak a Telek Ingatlanon található közműhálózatra, vagy amennyiben ez a Telek Ingatlan tulajdonosait ésszerűen nem zavarja a Telek Ingatlan használatában közvetlenül a közterületen található közműhálózatra. A Felek a jogutódaikra is kiterjedő hatállyal ezennel megállapodnak, hogy bármilyen az Arconic Felépítmények tulajdonosai által létesítendő új közműkapcsolat (ideértve annak a Telek Ingatlanon áthaladó szakaszát is) engedélyezésének és kiépítésének költségét - ideértve különösen, de nem kizárólagosan, a közműfejlesztési hozzájárulások megfizetését - teljes egészében az Arconic Felépítmények tulajdonosai kötelesek viselni. A kizárólagosan az Arconic Felépítmények által használt közműhálózati elemek karbantartása és javítása az Arconic Felépítmények mindenkori tulajdonosainak a kötelezettsége.
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(a) The Parties, also binding their legal successors, agree, that in order to ensure the public utility supply of the Arconic Buildings, the respective owners of the Plot Property shall allow the Arconic Buildings, with its respective owners bearing the costs, to connect to the utility supply of the Plot Property or if it does not reasonably disturb the owners of the Plot Property directly to the utilities provided located on public property adjacent to the Plot Property. The Parties, also binding their legal successors, agree, that the cost of the authorization and establishment of any new utility connection (including any new connection crossing the Plot Property) to be established by the owners of the Arconic Buildings shall be borne by the owners of the Arconic Buildings, including but not limited to the utility development fees. The maintenance and service of the public utility elements exclusively used by the Arconic Buildings is the obligation of the respective owners of the Arconic Buildings.
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(b) Az (a). pont alapján a Telek Ingatlan mindenkori tulajdonosai kötelesek minden ésszerűen elvárhatót megtenni annak érdekében, hogy az (a). pont szerinti közműhálózati használati jog az Arconic Felépítmények mindenkori tulajdonosai számára biztosított legyen és az egyes csatlakozási pontokon keresztül az Arconic Felépítmények működéséhez és használatához szükséges közműellátás folyamatosan megvalósulhasson. A Telek Ingatlan mindenkori tulajdonosai kötelesek bármely hatósági eljárásban az Arconic Felépítmények mindenkori tulajdonosai kérésére írásban nyilatkozni arról, hogy az Arconic Felépítmények mindenkori tulajdonosai a Telek Ingatlant és annak közműhálózatát az Arconic Felépítmények közműellátásának biztosítása érdekében jogosultak ingyenesen használni és azokat igénybe venni. A Telek Ingatlan mindenkori tulajdonosai a Telek Ingatlan közműellátását biztosító épületrészeket, berendezéseket és közműhálózati elemeket nem jogosult elbontani (megszüntetni), a közműellátás megszűnését vagy akadályozását eredményező módon átalakítani.
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(b) With respect to point (a), the owners of the Plot Property are obliged to take every step which could reasonably be required to secure for the respective owners of the Arconic Buildings the public utility right of use mentioned in point (a), and availability of the public utility connection points so that the Arconic Buildings can be serviced with the required public utilities. The respective owners of the Plot Property are obliged to provide a written declaration in any administrative procedure, at the request of the respective owners of the Arconic Buildings confirming that the respective owners of the Arconic Buildings are entitled to use and make use of the Plot Property and its public utility networks free of charge to secure the public utilities supply of the Arconic Buildings. The respective owners of the Plot Property are not entitled to dismantle (destroy) any part of the public utility networks of the Plot Property or to convert them in a way resulting in the cessation or the obstruction of the public utility supply of the Arconic Buildings.
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1.7 A Felek tudomásul veszik, hogy a Földhasználati Jog az Arconic Felépítmények mindenkori tényleges tulajdonosát illeti meg és az az Arconic Felépítményektől nem elválasztható. A Felek tudomásul veszik, hogy a Földhasználati Jog önállóan nem ruházható át.
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1.7 The Parties acknowledge, that the Land Use Right exists in favour of the respective, actual owner of the Arconic Buildings and cannot be separated from the Arconic Buildings. The Parties acknowledge that the Land Use Right cannot be transferred individually.
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1.8 A Felek kötelezettséget vállalnak arra, hogy a jelen Szerződésben foglaltak érvényesülése érdekében a Telek Ingatlant illetve az Arconic Felépítményeket csak úgy ruházzák át, vagy adják más birtokába, használatába, hogy a jelen Szerződésben foglaltakról az érintett ingatlan (vagy annak része) használatára bármely jogcímen jogosulttá váló új személyt megfelelően tájékoztatják és biztosítják, hogy az érintett személy a jelen szerződésben rögzített kötelezettségek tudomásulvételét a másik ingatlan tulajdonosa számára megerősítse.
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1.8 The Parties undertake that in order for the provisions in this Agreement to prevail, they will sell, transfer possession or use of the Plot Property and the Arconic Buildings only after properly informing the person, by any legal title, newly entitled to use the concerned property (or part of it) of the provisions of this Agreement and after ensuring that the person concerned confirms the acknowledgement of the obligations set forth in this Agreement to the owner of the other property.
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1.9 Amennyiben a Földhasználati Jog gyakorlása szerződéses szabályozása tényének ingatlan-nyilvántartási feljegyzéshez további jognyilatkozatok szükségesek, a Felek kölcsönösen kötelesek ezeket a másik Fél felhívására késedelem és ellenszolgáltatás nélkül megtenni.
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1.9 If further statements are necessary for the recording of the fact of the Land Use Right's contractual regulation, the Parties mutually shall provide these without delay and free of charge, at the request of the other Party.
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1.10 A Felek megállapodnak, hogy az Arconic Felépítmények mindenkori tulajdonosa a jelen Szerződés szerinti jogainak gyakorlása során köteles tartózkodni a Telek Ingatlan tulajdonosának, bérlőinek és használóinak szükségtelen zavarásától.
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1.10 The Parties agree, that the respective owner of the Arconic Buildings, when exercising its rights granted in this Agreement, shall refrain from the unnecessary disturbance of the Plot Property's owners, tenants and users.
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2. A FÖLDHASZNÁLATI JOG TARTAMA ÉS MEGSZŰNÉSE
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2. DURATION OF THE LAND USE RIGHT AND ITS EXPIRY
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2.1 A jelen Szerződés annak mindkét Fél általi aláírásával lép hatályba.
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2.1 This Agreement enters into force upon its execution by both Parties.
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2.2 A Földhasználati Jog az egyes Arconic Felépítmények tekintetében az adott Arconic Felépítmény fennállásáig áll fenn.
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2.2 The Land Use Right with regard to an Arconic Building persists until the Arconic Building stands on the Plot Property.
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2.3 A Felek kötelezettséget vállalnak arra, hogy a Földhasználati Jog megszűnésekor megtesznek minden ahhoz szükséges intézkedést és kiadnak minden olyan nyilatkozatot, amely ahhoz szükséges, hogy a Földhasználati Jog és a földhasználati jog gyakorlása szerződéses szabályozásának ténye az ingatlan-nyilvántartásból törlésre kerüljön.
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2.3 The Parties undertake that in the event of the Land Use Right's expiry, they will take every measure and issue every statement necessary to remove the Land Use Right and the fact of the contractual regulation of the land use right's exercise from the land registry.
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3. TÖRVÉNYEN ALAPULÓ ELŐVÁSÁRLÁSI JOG
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3. STATUTORY RIGHT OF FIRST REFUSAL
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3.1 A Felek tudomással bírnak arról, hogy a Polgári Törvénykönyvről szóló 2013. évi V. törvény („Ptk.”) 5:20. §-a szerint a Földhasználati Jogra tekintettel a Telek Ingatlan mindenkori tulajdonosait az Arconic Felépítményekre, míg az Arconic Felépítmények mindenkori tulajdonosait a Telek Ingatlanra elővásárlási jog illeti meg (az "Elővásárlási Jog").
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3.1 The Parties are aware that, according to section 5:20 of Act V of 2013 on the Civil Code, with regard to the Land Use Right the respective owners of the Plot Property are entitled to a right of first refusal on the Arconic Buildings, while the respective owners of the Arconic Buildings are entitled to a right of first refusal on the Plot Property (the "Right of First Refusal").
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3.2 Az Elővásárlási Jog gyakorlása tekintetében a Felek az alábbiakban állapodnak meg:
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3.2 Regarding the exercise of the Right of First Refusal, the Parties agree as follows:
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(a) Az elővásárlási jog gyakorlására felhívó nyilatkozatot a kötelezett Félnek írásban kell eljuttatnia a jogosult Fél (Felek) közhiteles nyilvántartás(ok)ból kitűnő székhelyére, csatolva a vételi ajánlatot tett harmadik személy által és a Kötelezett Fél által is jóváhagyott, az adásvételi szerződés tervezetét vagy az adásvételre vonatkozó lényeges elemeket tartalmazó vételi szándéknyilatkozatot;
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(a) The obliged Party shall send the notice calling on the beneficiary Party to exercise its right of first refusal to the beneficiary Party's (Parties') seat(s) indicated in official public register(s), attaching either the the SPA approved by the obliged Party and the third party making an offer or a letter of intent issued by the third party making an offer and containing the main terms of the sale and purchase;
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(b) A jogosult Fél az elővásárlási jogát a kötelezett Fél nyilatkozatának kézhezvételétől számított 30 napon belül jogosult írásban megtenni, oly módon, hogy az elővásárlási jogot gyakorló nyilatkozatát ezen 30 napos határidőn belül írásban köteles eljuttatni a kötelezett Fél közhiteles nyilvántartás(ok)ból kitűnő székhelyére.
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(b) Within 30 days of receiving the obliged Party's statement, the beneficiary Party shall exercise its right of first refusal in written form and in such way, that it shall send its statement, exercising the right of first refusal, within these 30 days in written form to the obliged Party's seat indicated in official public register(s).
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(c) Az elővásárlási jog gyakorlásáról való lemondásnak kell tekinteni, ha a jogosult Fél a fenti 30 napos határidőn belül nem juttatja el az elővásárlási jog gyakorlásáról szóló nyilatkozatár a kötelezett Fél közhiteles nyilvántartás(ok)ból kitűnő székhelyére.
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(c) Should the entitled Party fail to send its statement about the exercise of the right of first refusal within the 30 days mentioned above to the obliged Party's seat indicated in official public register(s), it shall be deemed as a waiver of the Right of First Refusal.
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4. ÉRTESÍTÉSEK
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4. NOTICES
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4.1 A jelen Szerződésben meghatározott, és az annak alapján küldendő értesítéseket, felhívásokat írásba kell foglalni és a Felek közhiteles nyilvántartás(ok)ból kitűnő mindenkori székhelyére kell megküldeni átvételi elismervénnyel igazolt közvetlen kézbesítés vagy tértivevényes ajánlott levél útján.
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4.1 Notices defined and to be sent under this Agreement shall be made in writing and sent through personal delivery with a signed confirmation of receipt or in the form of registered mail with acknowledgement of receipt requested, to the Parties' respective registered seats indicated in official public registers.
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4.2 A Felek az egymással való kapcsolattartásra a következő személyeket jelölik ki:
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4.2 The Parties appoint the following contact person:
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A Mill Products részéről: Varga Zsuzsa
Cím: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: zsuzsa.varga@arconic.com
Az Arconic részéről: Szabó Ferenc
Cím: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: ferenc.szabo@howmet.com
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On behalf of Mill Products: Zsuzsa Varga
Address: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: zsuzsa.varga@arconic.com
On behalf of Arconic: Ferenc Szabó
Address: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: ferenc.szabo@howmet.com
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4.3 A Felek részére elküldött értesítést a következő időpontokban kell kézbesítettnek tekinteni: (i) személyes kézbesítés esetén akkor, amikor a küldeményt az adott Félnek átadják; (ii) postázás esetén az igazolt kézbesítéskor azzal, hogy az értesítést akkor is kézbesítettnek kell tekinteni, ha a tértivevény „átvételt megtagadta”, „nem kereste”, „elköltözött”, illetve „ismeretlen” vagy ezekkel egyenértékű egyéb jelzéssel érkezik vissza. Ha a személyes vagy futár útján történő kézbesítés a fenti címen a munkanapokon 9-16 óráig azért volt sikertelen, mert a címzett nem volt elérhető vagy a küldemény átvételét megtagadta, a küldeményt a kézbesítés megkísérlésének napját követő munkanapon kell kézbesítettnek tekinteni. Az e-mail útján közölt értesítés nem minősül írásbeli közlésnek, és semmilyen körülmények között nem válik joghatályossá.
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4.3 Notice sent to a Party shall be deemed delivered when: (i) it is delivered to the given party in case of personal delivery; (ii) acknowledged by the receipt in case of delivery by post. Notices shall be deemed delivered even if the acknowledgement of receipt is returned with any of the indications "refused", "unclaimed", "moved", "unknown" or any equivalent indication. If the delivery was unsuccessful at the addresses above on working days between 9 am and 16 pm because the recipient was not available or refused the reception of the consignment, the consignment shall be deemed to be delivered on the working day after the day of the attempted delivery. Notices delivered by email shall not be considered as written notices and shall not be effective under any circumstances.
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5. A SZERZŐDÉS MÓDOSÍTÁSA
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5. AMENDMENT
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A jelen Szerződés csak akkor módosítható, ha a módosítást mindkét Fél írásban elfogadja.
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This Agreement may only be amended by both parties in writing.
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6. RÉSZLEGES ÉRVÉNYTELENSÉG
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6. PARTIAL INVALIDITY
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Amennyiben a jelen Szerződés valamely rendelkezését részben vagy egészben jogellenesnek, érvénytelennek vagy végrehajthatatlannak nyilvánítják, az semmilyen módon sem befolyásolja vagy érinti hátrányosan a jelen Szerződés többi rendelkezésének jogszerűségét, érvényességét és végrehajthatóságát.
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Should any provision of this Agreement be partially or entirely declared illegal, invalid or unenforceable, it does not in any way influence or adversely affect the legality, validity or enforceability of this Agreement's remaining provisions.
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7. JOG
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7. GOVERNING LAW
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A jelen Szerződés és az abból eredő vagy azzal összefüggő valamennyi kérdésre (beleértve korlátozás nélkül bármely szerződéses vagy nem szerződésen alapuló kötelezettséget) Magyarország joga alkalmazandó és a Szerződés annak alapján értelmezendő, azzal hogy a Felek kizárják bármely olyan kollíziós jogszabály alkalmazását, amely Magyarországon kívül bármely más jogrendszer szabályainak alkalmazását eredményezné.
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This Agreement and all the questions resulting from or in connection with it (including, without limitation, any contractual or non-contractual obligation) are governed by Hungarian law and the Agreement shall be interpreted according to it, with the proviso, that the Parties exclude the application of any conflict-of-law rules which would result in the application of any other other legal system other than the Hungarian.
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8. JOGUTÓDLÁS
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8. LEGAL SUCCESSION
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A jelen Szerződés hasznai és terhei a Felek jogutódaira és engedményeseire átszállnak, és azokat közvetlenül jogosítják és kötelezik.
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The rights and obligations under this Agreement transfer, give entitlement to and oblige directly the Parties' legal successors and assignees.
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9. NYELV
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9. GOVERNING LANGUAGE
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A jelen Szerződést a Felek magyar és angol nyelven írták alá, a két változat közötti eltérés esetén a magyar nyelvű változat az irányadó.
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The Parties signed this Agreement in Hungarian and English; if there is any contradiction between the two versions then the Hungarian version shall prevail.
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10. MAGYAR JOGI SZEMÉLYEK
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10. HUNGARIAN LEGAL PERSONS
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A Mill Products kijelenti, hogy Magyarország területén jogszerűen bejegyzett gazdasági társaság és a jelen Szerződés megkötéséhez való jogosultsága semmilyen korlátozás alá nem esik. Az Arconic kijelenti, hogy Magyarország területén jogszerűen bejegyzett gazdasági társaság és a jelen Szerződés megkötéséhez való jogosultsága semmilyen korlátozás alá nem esik.
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Mill Products declares, that it is a legally registered business association in Hungary and its right to sign this Agreement is not subject to any restriction. Arconic declares, that it is a legally registered business association in Hungary and its right to sign this Agreement is not subject to any restriction.
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11. MEGHATALMAZÁS
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11. POWER OF ATTORNEY
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A Felek meghatalmazzák a DLA Piper Posztl, Nemescsói, Györfi-Tóth és Társai Ügyvédi Irodát (székhely: 1124 Budapest, Csörsz u. 49-51.; eljáró ügyvéd: dr. Fehér Helga) a jelen Szerződés elkészítésével és ellenjegyzésével és a Felek illetékes földhivatal előtt történő képviseletével.
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The Parties authorize DLA Piper Posztl, Nemescsói, Györfi-Tóth & Partners Law Firm (registered seat: 1124 Budapest, Csörsz u. 49-51.; acting attorney-at-law: dr. Helga Fehér) to prepare and countersign this Agreement, and to represent the Parties before the competent Land Registry Office.
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A Felek kijelentik, hogy a jelen Szerződésben foglaltak az akaratuknak minden tekintetben megfelelnek.
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The Parties declare, that the content of this Agreement corresponds with their contractual will in all respects.
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Mellékletek:
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Annexes:
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1. sz. melléklet: Vázrajz
2. sz. melléklet: A Telek Ingatlanon található Felépítmények helyrajzi számai
3. sz. melléklet: A Mill Products Felépítmények helyrajzi számai
4. sz. melléklet: Az Arconic Felépítmények helyrajzi számai
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Annex 1: Layout
Annex 2: Topographical lot numbers of the Buildings on the Plot Property
Annex 3: Topographical lot numbers of the Mill Products Buildings
Annex 4: Topographical lot numbers of the Arconic Buildings
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Székesfehérvár, 2020. január 6. napján
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Székesfehérvár, 6 January 2020
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______________________________________
Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság
Jogutód és kötelezett
képviseli: Gábor Balázs, ügyvezető
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______________________________________
Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság
Legal successor and obligor
Represented by: Balázs Gábor, managing director
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______________________________________
Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság
Jogelőd és jogosult
Képviseli: Katus István Gábor, ügyvezető
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______________________________________
Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság
Legal predecessor and right-holder
Represented by: István Gábor Katus, managing director
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A fenti 11. pontban foglalt meghatalmazást elfogadom és a jelen Szerződést ellenjegyzem, Székesfehérváron, 2020. január 6. napján:
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I accept the power of attorney in point 11. and countersign this Agreement, in Székesfehérvár, 6 January 2020
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____________________________
dr. Fehér Helga
Ügyvéd
KASZ: 36059892
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____________________________
dr. Helga Fehér
Attorney at Law
Bar Associaton Number: 36059892
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GBE/GBE/396179/17/CEEM/6084693.1
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1
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GBE/GBE/396179/17/CEEM/6084367.1
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1
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DÁTUM
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2020 január 6.
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DATED
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6 January 2020
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
- és -
(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
- and -
(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG
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FÖLDHASZNÁLATI JOGOT SZABÁLYOZÓ SZERZŐDÉS
a Székesfehérvár belterület 9820/15 helyrajzi szám alatt bejegyzett ingatlan vonatkozásában
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LAND USE RIGHT AGREEMENT
relating to the property registered under the land registry number Székesfehérvár urban zone 9820/15
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TARTALOMJEGYZÉK
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CONTENTS
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1.FÖLDHASZNÁLATI JOG 5
2.A FÖLDHASZNÁLATI JOG TARTAMA ÉS MEGSZŰNÉSE 10
3.TÖRVÉNYEN ALAPULÓ ELŐVÁSÁRLÁSI JOG 10
4.ÉRTESÍTÉSEK 11
5.A SZERZŐDÉS MÓDOSÍTÁSA 13
6.RÉSZLEGES ÉRVÉNYTELENSÉG 13
7.JOG 13
8.JOGUTÓDLÁS 13
9.NYELV 13
10.MAGYAR JOGI SZEMÉLYEK 14
11.MEGHATALMAZÁS 14
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1.LAND USE RIGHT 5
2.DURATION OF THE LAND USE RIGHT AND ITS EXPIRY 10
3.STATUTORY RIGHT OF FIRST REFUSAL 10
4.NOTICES 11
5.AMENDMENT 13
6.PARTIAL INVALIDITY 13
7.GOVERNING LAW 13
8.LEGAL SUCCESSION 13
9.GOVERNING LANGUAGE 13
10.HUNGARIAN LEGAL PERSONS 14
11.POWER OF ATTORNEY 14
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A JELEN SZERZŐDÉS 2020. január 6. napján jött létre
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THIS AGREEMENT is made on 6 January 2020
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AZ ALÁBBI FELEK KÖZÖTT:
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BETWEEN:
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (SZÉKHELYE: 8000 SZÉKESFEHÉRVÁR, VERSECI U. 1-15.; CÉGJEGYZÉKSZÁMA: 07-09-001598; ADÓSZÁMA: 10584215-2-07; STATISZTIKAI SZÁMJELE: 10584215-2442-113-07) („ARCONIC”); ÉS
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(1) ARCONIC-KÖFÉM SZÉKESFEHÉRVÁRI KÖNNYŰFÉMMŰ KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (REGISTERED SEAT: 8000 SZÉKESFEHÉRVÁR, VERSECI U. 1-15.; COMPANY REGISTRATION NUMBER: 07-09-001598; TAX NUMBER: 10584215-2-07; STATISTICAL IDENTIFICATION NUMBER: 10584215-2442-113-07) („ARCONIC”); AND
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(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (székhelye: 8000 Székesfehérvár, Verseci u. 1-15.; cégjegyzékszáma: 07-09-030481; adószáma: 27104705-2-07; statisztikai számjele: 27104705-2442-113-07) („Mill Products”)
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(2) ARCONIC-KÖFÉM MILL PRODUCTS HUNGARY KORLÁTOLT FELELŐSSÉGŰ TÁRSASÁG (registered seat: 8000 Székesfehérvár, Verseci u. 1-15.; company registration number: 07-09-030481; tax number: 27104705-2-07; statistical identification number: 27104705-2442-113-07) („Mill Products”)
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(Arconic és Mill Products megnevezése a továbbiakban külön-külön „Fél”, együttesen „Felek”).
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(Arconic and Mill Producst are hereinafter individually referred to as a "Party" and collectively referred to as the "Parties").
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ELŐZMÉNYEK:
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BACKGROUND:
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•
A Felek rögzítik, hogy az Arconic 46/100 arányú tulajdonát és a Mill Products 54/100 tulajdonát képezi az ingatlan-nyilvántartásban a Székesfehérvár belterület 9820/15 helyrajzi szám alatt bejegyzett ingatlan ("Telek Ingatlan").
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The Parties record, that the Property registered under the land registry number Székesfehérvár urban zone 9820/15 ("Plot Property") is owned by Arconic in a 46/100 ratio and by Mill Products in a 54/100 ratio.
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B Az Arconic korábban kérelmet nyújtott be az illetékes ingatlan-nyilvántartási hatósághoz annak érdekében, hogy a Telek Ingatlanon található 66 darab felépítmény önálló ingatlanokként az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény 12. § a) pontjának aa) alpontja és az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény végrehajtásáról szóló 109/1999 (XII.29.) FVM rendelet 59. § (2) bekezdése alapján bejegyeztesse az ingatlan-nyilvántartásba. A felépítmények az Arconic kérelmének megfelelően a 2. sz. melléklet szerinti helyrajzi számok alatt önálló helyrajzi számmal rendelkező felépítményként az ingatlan-nyilvántartásba bejegyzésre kerültek (együttesen a „Felépítmények”).
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B Previously, Arconic submitted a request to the competent land registry office in order to have the 66 buildings on the Plot Property registered as separate properties in accordance with Section 12 point a) subpoint aa) of Act CXLI of 1997 on the land registry and Section 59 paragraph (2) of FVM Regulation no 109/1999 (XII.29.) on the implementation of Act CXLI of 1997 on the land registry. In accordance with Arconic's request, the buildings have been registered under the topographical lot numbers listed in Annex 2 in the land registry as buildings with separate land registry numbers (collectively the „Buildings”).
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C Az Arconic tagjai 2019. szeptember 9. napján kiválási szerződést kötöttek, amely alapján kiválás jogcímen a Mill Products mint jogutód megszerezte az Arconic-tól mint jogelődtől a Telek Ingatlan 54/100 tulajdoni hányadát, valamint a 3. sz. melléklet szerinti helyrajzi számú ingatlanok (a "Mill Products Felépítmények") kizárólagos tulajdonjogát. A Felépítmények közül a 4. sz. melléklet szerinti helyrajzi számú Felépítmények (az "Arconic Felépítmények") továbbra is az Arconic kizárólagos tulajdonában maradtak. A Felek rögzítik továbbá, hogy jelen Szerződés megkötésével egyidejűleg vagy ahhoz közeli időpontban (i) a Telek Ingatlan használatának megosztása tárgyában használati megosztási megállapodást (a "Használati Szerződés"); (ii) egyes közmű és egyéb szolgáltatások tárgyában pedig szolgáltatási szerződéseket (a "Szolgáltatási Szerződések") is szándékoznak kötni egymással.
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C The shareholders of Arconic signed a Demerger Deed dated 9 September 2019, according to which under the legal title of secession Mill Products, as the legal successor, acquired from Arconic, as legal predecessor, the 54/100 property ratio of the Plot Property, and the exclusive ownership of the properties registered under topographical lot numbers listed in Annex 3 (the "Mill Products Buildings"). The Buildings registered under topographical lot numbers listed in Annex 4 (the "Arconic Buildings") remain the exclusive property of Arconic. The Parties record that simultaneously with, or close in time to, the execution of this Agreement, they intend to sign (i) an agreement sharing the right of use of the Plot Property (the "Use Agreement"); and (ii) service contracts regarding certain public utilities and other services (the "Service Contracts").
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D Tekintettel arra, hogy a Telek Ingatlan a Felek közös tulajdonában áll, míg a Mill Products Felépítmények a Mill Products kizárólagos tulajdonában állnak , a Felek a Mill Products Felépítmények javára és a Telek Ingatlan terhére a törvény erejénél fogva létrejött földhasználati jogot a jelen Szerződésben kívánják szabályozni.
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D Considering that the Plot Property is in the joint ownership of the Parties, while the Mill Products Buildings are the exclusive properties of Mill Products, the Parties wish to regulate in this Agreement the land use right existing by virtue of law for the benefit of the Mill Products Buildings and encumbering the Plot Property.
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A FELEK AZ ALÁBBIAKBAN ÁLLAPODNAK MEG:
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IT IS AGREED:
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FÖLDHASZNÁLATI JOG
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LAND USE RIGHT
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1.1 A Felek rögzítik, hogy a törvény erejénél fogva földhasználati jog („Földhasználati Jog”) áll fenn a 3. sz. mellékletben felsorolt Mill Products Felépítmények mindenkori tulajdonosa javára. Az egyes Mill Products Felépítmények Telek Ingatlanon belüli elhelyezkedését („Földhasználati Joggal Érintett Terület”) a jelen Szerződés 1. sz. mellékleteként csatolt vázrajz („Vázrajz”) mutatja. Az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény végrehajtásáról szóló 109/1999 (XII.29.) FVM rendelet 9/A. § (2) bekezdésben foglaltaknak megfelelően a Földhasználati Jog gyakorlásának szabályozása körében a Felek a jelen Szerződésben foglaltaknak megfelelően állapodnak meg a Földhasználati Jog terjedelmében.
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1.1 The Parties record that a land use right ("Land Use Right") exists, by virtue of law, in favour of the owner of the Mill Products Buildings as listed in Annex 3. The location of the Mill Products Buildings within the Plot Property ("Area Covered by the Land Use Right") is indicated on the layout ("Layout") attached to this Agreement as Annex 1. In accordance with Section 9/A paragraph (2) of FVM Regulation no 109/1999 (XII.29.) on the implementation of Act CXLI 1997 on the land registry the Parties regulate the Land Use Right in detail in this Agreement.
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1.2 A Felek egyezően kijelentik, hogy a Földhasználati Jog gyakorlására vonatkozó szabályokat a jelen Szerződésben határozzák meg, melyre tekintettel kérik a Tisztelt Földhivatalt, hogy az ingatlan-nyilvántartásról szóló 1997. évi CXLI. törvény végrehajtásáról szóló 109/1999. (XII.29.) FVM rendelet 34. §-a alapján a földhasználati jog gyakorlása szerződéses szabályozásának tényét az ingatlan-nyilvántartásba a Telek Ingatlan és a Mill Products Felépítmények tulajdoni lapjain feljegyezni szíveskedjen, mely feljegyzéshez a Felek ezennel kifejezett, feltétlen és visszavonhatatlan hozzájárulásukat adják.
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1.2 The Parties declare, that they set out the rules regulating the exercise of the Land Use Right in this Agreement, and therefore, they request the Honorable Land Registry Office to record the fact of the contractual regulation of the land use right on the title deeds of the Plot Property and the Mill Products Buildings in accordance with FVM Regulation no 109/1999. (XII.29.) on the implementation of Act CXLI of 1997 on the land registry, to which recording the Parties hereby grant their express, unconditional and irrevocable consent.
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1.3 Addig a napig, amíg a Mill Products Felépítmények vagy azok bármelyike a Vázrajzon meghatározott területen áll, a Mill Products-nak, illetve a Mill Products Felépítmények mindenkori tulajdonosainak kizárólagos joguk van ahhoz, hogy a Földhasználati Joggal Érintett Területet és a Mill Products Felépítményeket használják, hasznosítsák, előnyeit élvezzék. A Mill Products Felépítményekkel kapcsolatos mindennemű költséget és kiadást a Mill Products és jogutódai viselnek.
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1.3 Until the day the Mill Products Buildings or any of them stand on the area set out on the Layout, Mill Products and the then current owners of the Mill Products Buildings have the exclusive right to use, utilize and enjoy all benefits of the Area Covered by the Land Use Right and the Mill Products Buildings. Any costs and expenses associated with the Mill Products Buildings shall be borne by the Purchaser and its legal successors.
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1.4 Átjárási jog
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1.4 Right of way
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(a) A Felek ezennel megállapodnak, hogy a Mill Products Felépítmények és a Földhasználati Joggal Érintett Terület rendeltetésszerű használata által megkívánt mértékben a Mill Products Felépítmények mindenkori tulajdonosa, birtokosa és vendégei jogosultak a Telek Ingatlanon zavartalanul ingyenesen átjárni napi 24 (huszonnégy) órában, évi 365 (háromszázhatvanöt) napon.
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(a) The Parties hereby agree, that to the extent required for the proper use of the Mill Products Buildings and the Area Covered by the Land Use Right, the respective owners, possessors and guests of the Mill Products Buildings are entitled to pass through the Plot Property undisturbed, free of charge 24 (twenty-four) hours a day, 365 (three hundred and sixty-five) days a year.
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(b) A Felek megállapodnak abban, hogy a Mill Products Felépítmények mindenkori tulajdonosai, birtokosai és vendégei a (a) pont szerinti ingyenes átjárási jogot kizárólag a Telek Ingatlan mindenkori tulajdonosai, birtokosai és használói érdekeinek kíméletével, a Telek Ingatlanon és az Arconic Felépítményekben folytatott tevékenység szükségtelen zavarása nélkül gyakorolhatják. A Felek rögzítik, hogy a Telek Ingatlanon található közlekedési infrastruktúra karbantartása és javítása a Telek Ingatlan azon mindenkori tulajdonosának a kötelezettsége, akihez azt a Használati Szerződés telepíti.
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(b) The Parties agree, that the respective owners, possessors and guests of the Mill Products Buildings shall exercise their free of charge right of way granted in point (a) only with respecting the interests of the respective owners, possessors and users of the Plot Property, and without the unnecessary disturbance of the activity on the Plot Property and in the Arconic Buildings. The Parties record, that the maintenance and the service of the transport infrastructure on the Plot Property is the obligation of that respective owner of the Plot Property, to whom the Use Agreement allocates it.
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1.5 Tűzvédelmi menekülési útvonal
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1.5 Fire protection escape routes
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(a) A Felek a jogutódaikra is kiterjedő hatállyal ezennel megállapodnak, hogy a Mill Products Felépítmények tűzvédelmi jogszabályi és hatósági előírásoknak megfelelő menekülési útvonala biztosítása érdekében a Mill Products Felépítmények mindenkori tulajdonosai, birtokosai, használói jogosultak Telek Ingatlan közterületre nyíló legközelebbi kijáratához vezető útvonalat tűzvédelmi menekülési útvonal biztosítása céljából - a tűzvédelmi jogszabályi és hatósági előírásoknak való megfeleléshez és tűz valamint tűzvédelmi gyakorlat esetén meneküléshez (a "Menekülési Útvonal") a szükséges mértékben ingyenesen használni és azt igénybe venni.
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(a) The Parties, also binding their legal successors, agree, that in order to ensure an escape route for the Mill Products Buildings in compliance with the legal and regulatory fire protection provisions, the respective owners, possessors and users of the Mill Products Buildings are entitled to use and make use of the Plot Property's route leading to the nearest exit to a public area, free of charge and to the extent necessary, in order to ensure a fire protection escape route - to comply with the legal and regulatory fire protection provisions and for escaping in case of a fire or a fire drill ("Escape Route").
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(b) Az (a). pont alapján a Telek Ingatlan mindenkori tulajdonosai kötelesek minden tőlük ésszerűen elvárhatót megtenni annak érdekében, hogy a Menekülési Útvonal zavartalanul, és a jogszabályi és hatósági előírásoknak megfelelően a Mill Products Felépítmények számára biztosítottak legyenek. A Telek Ingatlan mindenkori tulajdonosai kötelesek bármely hatósági eljárásban a Mill Products Felépítmények mindenkori tulajdonosai kérésére írásban nyilatkozni arról, hogy a Mill Products Felépítmények mindenkori tulajdonosai, birtokosai, használói jogosultak a Menekülési Útvonalat a tűzvédelmi jogszabályi és hatósági előírásoknak való megfeleléshez szükséges mértékben ingyenesen használni és azt igénybe venni.
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(b) With respect to point (a) above, the owners of the Plot Property are obliged to take every step which could reasonably be required in order to secure and provide the Escape Route for the Mill Products Buildings without any disturbance and in compliance with the legal and regulatory provisions. The respective owners of the Plot Property are obliged to provide a written declaration in any administrative procedure, at the request of the respective owners of the Mill Products Buildings confirming that the respective owners, possessors and users of the Mill Products Buildings are entitled to use and make use of the Escape Route free of charge and to the extent necessary to comply with the legal and regulatory fire protection provisions.
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1.6 A Mill Products Felépítmények közműellátásának biztosítása
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1.6 Ensuring the public utility supply of the Mill Products Buildings
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(a) A Felek a jogutódaikra is kiterjedő hatállyal ezennel megállapodnak, hogy a Mill Products Felépítmények közműellátása biztosítása érdekében a Telek Ingatlan mindenkori tulajdonosai kötelesek lehetővé tenni, hogy a Mill Products Felépítmények azok mindenkori tulajdonosainak költségviselése mellett csatlakozzanak a Telek Ingatlanon található közműhálózatra, vagy amennyiben ez a Telek Ingatlan tulajdonosait ésszerűen nem zavarja a Telek Ingatlan használatában közvetlenül a közterületen található közműhálózatra. A Felek a jogutódaikra is kiterjedő hatállyal ezennel megállapodnak, hogy bármilyen a Mill Products Felépítmények tulajdonosai által létesítendő új közműkapcsolat (ideértve annak a Telek Ingatlanon áthaladó szakaszát is) engedélyezésének és kiépítésének költségét - ideértve különösen, de nem kizárólagosan, a közműfejlesztési hozzájárulások megfizetését - teljes egészében a Mill Products Felépítmények tulajdonosai kötelesek viselni. A kizárólagosan a Mill Products Felépítmények által használt közműhálózati elemek karbantartása és javítása a Mill Products Felépítmények mindenkori tulajdonosainak a kötelezettsége.
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(a) The Parties, also binding their legal successors, agree, that in order to ensure the public utility supply of the Mill Products Buildings, the respective owners of the Plot Property shall allow the Mill Products Buildings, with its respective owners bearing the costs, to connect to the utility supply of the Plot Property or if it does not reasonably disturb the owners of the Plot Property directly to the utilities provided located on public property adjacent to the Plot Property. The Parties, also binding their legal successors, agree, that the cost of the authorization and establishment of any new utility connection (including any new connection crossing the Plot Property) to be established by the owners of the Mill Products Buildings shall be borne by the owners of the Mill Products Buildings, including but not limited to the utility development fees. The maintenance and service of the public utility elements exclusively used by the Mill Products Buildings is the obligation of the respective owners of the Mill Products Buildings.
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(b) Az (a). pont alapján a Telek Ingatlan mindenkori tulajdonosai kötelesek minden ésszerűen elvárhatót megtenni annak érdekében, hogy az (a). pont szerinti közműhálózati használati jog a Mill Products Felépítmények mindenkori tulajdonosai számára biztosított legyen és az egyes csatlakozási pontokon keresztül a Mill Products Felépítmények működéséhez és használatához szükséges közműellátás folyamatosan megvalósulhasson. A Telek Ingatlan mindenkori tulajdonosai kötelesek bármely hatósági eljárásban a Mill Products Felépítmények mindenkori tulajdonosai kérésére írásban nyilatkozni arról, hogy a Mill Products Felépítmények mindenkori tulajdonosai a Telek Ingatlant és annak közműhálózatát a Mill Products Felépítmények közműellátásának biztosítása érdekében jogosultak ingyenesen használni és azokat igénybe venni. A Telek Ingatlan mindenkori tulajdonosai a Telek Ingatlan közműellátását biztosító épületrészeket, berendezéseket és közműhálózati elemeket nem jogosult elbontani (megszüntetni), a közműellátás megszűnését vagy akadályozását eredményező módon átalakítani.
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(b) With respect to point (a), the owners of the Plot Property are obliged to take every step which could reasonably be required to secure for the respective owners of the Mill Products Buildings the public utility right of use mentioned in point (a), and availability of the public utility connection points so that the Mill Products Buildings can be serviced with the required public utilities. The respective owners of the Plot Property are obliged to provide a written declaration in any administrative procedure, at the request of the respective owners of the Mill Products Buildings confirming that the respective owners of the Mill Products Buildings are entitled to use and make use of the Plot Property and its public utility networks free of charge to secure the public utilities supply of the Mill Products Buildings. The respective owners of the Plot Property are not entitled to dismantle (destroy) any part of the public utility networks of the Plot Property or to convert them in a way resulting in the cessation or the obstruction of the public utility supply of the Mill Products Buildings.
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1.7 A Felek tudomásul veszik, hogy a Földhasználati Jog a Mill Products Felépítmények mindenkori tényleges tulajdonosát illeti meg és az a Mill Products Felépítményektől nem elválasztható. A Felek tudomásul veszik, hogy a Földhasználati Jog önállóan nem ruházható át.
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1.7 The Parties acknowledge that the Land Use Right exists in favour of the respective, actual owner of the Mill Products Buildings and cannot be separated from the Mill Products Buildings. The Parties acknowledge that the Land Use Right cannot be transferred individually.
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1.8 A Felek kötelezettséget vállalnak arra, hogy a jelen Szerződésben foglaltak érvényesülése érdekében a Telek Ingatlant illetve a Mill Products Felépítményeket csak úgy ruházzák át, vagy adják más birtokába, használatába, hogy a jelen Szerződésben foglaltakról az érintett ingatlan (vagy annak része) használatára bármely jogcímen jogosulttá váló új személyt megfelelően tájékoztatják és biztosítják, hogy az érintett személy a jelen szerződésben rögzített kötelezettségek tudomásulvételét a másik ingatlan tulajdonosa számára megerősítse.
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1.8 The Parties undertake that in order for the provisions in this Agreement to prevail, they will sell, transfer possession or use of the Plot Property and the Mill Products Buildings only after properly informing the person, by any legal title, newly entitled to use the concerned property (or part of it) of the provisions of this Agreement and after ensuring that the person concerned confirms the acknowledgement of the obligations set forth in this Agreement to the owner of the other property.
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1.9 Amennyiben a Földhasználati Jog gyakorlása szerződéses szabályozása tényének ingatlan-nyilvántartási feljegyzéshez további jognyilatkozatok szükségesek, a Felek kölcsönösen kötelesek ezeket a másik Fél felhívására késedelem és ellenszolgáltatás nélkül megtenni.
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1.9 If further statements are necessary for the recording of the fact of the Land Use Right's contractual regulation, the Parties mutually shall provide these without delay and free of charge, at the request of the other Party.
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1.10 A Felek megállapodnak, hogy a Mill Products Felépítmények mindenkori tulajdonosa a jelen Szerződés szerinti jogainak gyakorlása során köteles tartózkodni a Telek Ingatlan tulajdonosának, bérlőinek és használóinak szükségtelen zavarásától.
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1.10 The Parties agree, that the respective owner of the Mill Products Buildings, when exercising its rights granted in this Agreement, shall refrain from the unnecessary disturbance of the Plot Property's owners, tenants and users.
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2. A FÖLDHASZNÁLATI JOG TARTAMA ÉS MEGSZŰNÉSE
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2. DURATION OF THE LAND USE RIGHT AND ITS EXPIRY
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2.1 A jelen Szerződés annak mindkét Fél általi aláírásával lép hatályba.
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2.1 This Agreement enters into force upon its execution by both Parties.
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2.2 A Földhasználati Jog az egyes Mill Products Felépítmények tekintetében az adott Mill Products Felépítmény fennállásáig áll fenn.
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2.2 The Land Use Right with regard to a Mill Products Buildings persists until the Mill Products Buildings stand on the Plot Property.
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2.3 A Felek kötelezettséget vállalnak arra, hogy a Földhasználati Jog megszűnésekor megtesznek minden ahhoz szükséges intézkedést és kiadnak minden olyan nyilatkozatot, amely ahhoz szükséges, hogy a Földhasználati Jog és a földhasználati jog gyakorlása szerződéses szabályozásának ténye az ingatlan-nyilvántartásból törlésre kerüljön.
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2.3 The Parties undertake that in the event of the Land Use Right's expiry, they will take every measure and issue every statement necessary to remove the Land Use Right and the fact of the contractual regulation of the land use right's exercise from the land registry.
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3. TÖRVÉNYEN ALAPULÓ ELŐVÁSÁRLÁSI JOG
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3. STATUTORY RIGHT OF FIRST REFUSAL
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3.1 A Felek tudomással bírnak arról, hogy a Polgári Törvénykönyvről szóló 2013. évi V. törvény („Ptk.”) 5:20. §-a szerint a Földhasználati Jogra tekintettel a Telek Ingatlan mindenkori tulajdonosait a Mill Products Felépítményekre, míg a Mill Products Felépítmények mindenkori tulajdonosait a Telek Ingatlanra elővásárlási jog illeti meg (az "Elővásárlási Jog").
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3.1 The Parties are aware that, according to section 5:20 of Act V of 2013 on the Civil Code, with regard to the Land Use Right the respective owners of the Plot Property are entitled to a right of first refusal on the Mill Products Buildings, while the respective owners of the Mill Products Buildings are entitled to a right of first refusal on the Plot Property (the "Right of First Refusal").
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3.2 Az Elővásárlási Jog gyakorlása tekintetében a Felek az alábbiakban állapodnak meg:
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3.2 Regarding the exercise of the Right of First Refusal, the Parties agree as follows:
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(a) Az elővásárlási jog gyakorlására felhívó nyilatkozatot a kötelezett Félnek írásban kell eljuttatnia a jogosult Fél (Felek) közhiteles nyilvántartás(ok)ból kitűnő székhelyére, csatolva a vételi ajánlatot tett harmadik személy által és a Kötelezett Fél által is jóváhagyott, az adásvételi szerződés tervezetét vagy az adásvételre vonatkozó lényeges elemeket tartalmazó vételi szándéknyilatkozatot;
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(a) The obliged Party shall send the notice calling on the beneficiary Party to exercise its right of first refusal to the beneficiary Party's (Parties') seat(s) indicated in official public register(s), attaching either the the SPA approved by the obliged Party and the third party making an offer or a letter of intent issued by the third party making an offer and containing the main terms of the sale and purchase;
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(b) A jogosult Fél az elővásárlási jogát a kötelezett Fél nyilatkozatának kézhezvételétől számított 30 napon belül jogosult írásban megtenni, oly módon, hogy az elővásárlási jogot gyakorló nyilatkozatát ezen 30 napos határidőn belül írásban köteles eljuttatni a kötelezett Fél közhiteles nyilvántartás(ok)ból kitűnő székhelyére.
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(b) Within 30 days of receiving the obliged Party's statement, the beneficiary Party shall exercise its right of first refusal in written form and in such way, that it shall send its statement, exercising the right of first refusal, within these 30 days in written form to the obliged Party's seat indicated in official public register(s).
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(c) Az elővásárlási jog gyakorlásáról való lemondásnak kell tekinteni, ha a jogosult Fél a fenti 30 napos határidőn belül nem juttatja el az elővásárlási jog gyakorlásáról szóló nyilatkozatár a kötelezett Fél közhiteles nyilvántartás(ok)ból kitűnő székhelyére.
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(c) Should the entitled Party fail to send its statement about the exercise of the right of first refusal within the 30 days mentioned above to the obliged Party's seat indicated in official public register(s), it shall be deemed as a waiver of the Right of First Refusal.
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4. ÉRTESÍTÉSEK
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4. NOTICES
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4.1 A jelen Szerződésben meghatározott, és az annak alapján küldendő értesítéseket, felhívásokat írásba kell foglalni és a Felek közhiteles nyilvántartás(ok)ból kitűnő mindenkori székhelyére kell megküldeni átvételi elismervénnyel igazolt közvetlen kézbesítés vagy tértivevényes ajánlott levél útján.
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4.1 Notices defined and to be sent under this Agreement shall be made in writing and sent through personal delivery with a signed confirmation of receipt or in the form of registered mail with acknowledgement of receipt requested, to the Parties' respective registered seats indicated in official public registers.
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4.2 A Felek az egymással való kapcsolattartásra a következő személyeket jelölik ki:
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4.2 The Parties appoint the following contact person:
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Az Arconic részéről: Szabó Ferenc
Cím: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: ferenc.szabo@howmet.com
A Mill Products részéről: Varga Zsuzsa
Cím: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: zsuzsa.varga@arconic.com
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On behalf of Arconic: Ferenc Szabó
Address: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: ferenc.szabo@howmet.com
On behalf of Mill Products: Zsuzsa Varga
Address: 8000 Székesfehérvár, Verseci utca 1-15.
E-mail: zsuzsa.varga@arconic.com
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4.3 A Felek részére elküldött értesítést a következő időpontokban kell kézbesítettnek tekinteni: (i) személyes kézbesítés esetén akkor, amikor a küldeményt az adott Félnek átadják; (ii) postázás esetén az igazolt kézbesítéskor azzal, hogy az értesítést akkor is kézbesítettnek kell tekinteni, ha a tértivevény „átvételt megtagadta”, „nem kereste”, „elköltözött”, illetve „ismeretlen” vagy ezekkel egyenértékű egyéb jelzéssel érkezik vissza. Ha a személyes vagy futár útján történő kézbesítés a fenti címen a munkanapokon 9-16 óráig azért volt sikertelen, mert a címzett nem volt elérhető vagy a küldemény átvételét megtagadta, a küldeményt a kézbesítés megkísérlésének napját követő munkanapon kell kézbesítettnek tekinteni. Az e-mail útján közölt értesítés nem minősül írásbeli közlésnek, és semmilyen körülmények között nem válik joghatályossá.
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4.3 Notice sent to a Party shall be deemed delivered when: (i) it is delivered to the given party in case of personal delivery; (ii) acknowledged by the receipt in case of delivery by post. Notices shall be deemed delivered even if the acknowledgement of receipt is returned with any of the indications "refused", "unclaimed", "moved", "unknown" or any equivalent indication. If the delivery was unsuccessful at the addresses above on working days between 9 am and 16 pm because the recipient was not available or refused the reception of the consignment, the consignment shall be deemed to be delivered on the working day after the day of the attempted delivery. Notices delivered by email shall not be considered as written notices and shall not be effective under any circumstances.
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5. A SZERZŐDÉS MÓDOSÍTÁSA
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5. AMENDMENT
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A jelen Szerződés csak akkor módosítható, ha a módosítást mindkét Fél írásban elfogadja.
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This Agreement may only be amended by both parties in writing.
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6. RÉSZLEGES ÉRVÉNYTELENSÉG
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6. PARTIAL INVALIDITY
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Amennyiben a jelen Szerződés valamely rendelkezését részben vagy egészben jogellenesnek, érvénytelennek vagy végrehajthatatlannak nyilvánítják, az semmilyen módon sem befolyásolja vagy érinti hátrányosan a jelen Szerződés többi rendelkezésének jogszerűségét, érvényességét és végrehajthatóságát.
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Should any provision of this Agreement be partially or entirely declared illegal, invalid or unenforceable, it does not in any way influence or adversely affect the legality, validity or enforceability of this Agreement's remaining provisions.
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7. JOG
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7. GOVERNING LAW
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A jelen Szerződés és az abból eredő vagy azzal összefüggő valamennyi kérdésre (beleértve korlátozás nélkül bármely szerződéses vagy nem szerződésen alapuló kötelezettséget) Magyarország joga alkalmazandó és a Szerződés annak alapján értelmezendő, azzal hogy a Felek kizárják bármely olyan kollíziós jogszabály alkalmazását, amely Magyarországon kívül bármely más jogrendszer szabályainak alkalmazását eredményezné.
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This Agreement and all the questions resulting from or in connection with it (including, without limitation, any contractual or non-contractual obligation) are governed by Hungarian law and the Agreement shall be interpreted according to it, with the proviso, that the Parties exclude the application of any conflict-of-law rules which would result in the application of any other other legal system other than the Hungarian.
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8. JOGUTÓDLÁS
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8. LEGAL SUCCESSION
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A jelen Szerződés hasznai és terhei a Felek jogutódaira és engedményeseire átszállnak, és azokat közvetlenül jogosítják és kötelezik.
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The rights and obligations under this Agreement transfer, give entitlement to and oblige directly the Parties' legal successors and assignees.
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9. NYELV
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9. GOVERNING LANGUAGE
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A jelen Szerződést a Felek magyar és angol nyelven írták alá, a két változat közötti eltérés esetén a magyar nyelvű változat az irányadó.
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The Parties signed this Agreement in Hungarian and English; if there is any contradiction between the two versions then the Hungarian version shall prevail.
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10. MAGYAR JOGI SZEMÉLYEK
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10. HUNGARIAN LEGAL PERSONS
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Az Arconic kijelenti, hogy Magyarország területén jogszerűen bejegyzett gazdasági társaság és a jelen Szerződés megkötéséhez való jogosultsága semmilyen korlátozás alá nem esik. A Mill Products kijelenti, hogy Magyarország területén jogszerűen bejegyzett gazdasági társaság és a jelen Szerződés megkötéséhez való jogosultsága semmilyen korlátozás alá nem esik.
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The Arconic declares, that it is a legally registered business association in Hungary and its right to sign this Agreement is not subject to any restriction. The Mill Products declares, that it is a legally registered business association in Hungary and its right to sign this Agreement is not subject to any restriction.
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11. MEGHATALMAZÁS
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11. POWER OF ATTORNEY
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A Felek meghatalmazzák a DLA Piper Posztl, Nemescsói, Györfi-Tóth és Társai Ügyvédi Irodát (székhely: 1124 Budapest, Csörsz u. 49-51.; eljáró ügyvéd: dr. Fehér Helga) a jelen Szerződés elkészítésével és ellenjegyzésével és a Felek illetékes földhivatal előtt történő képviseletével.
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The Parties authorize DLA Piper Posztl, Nemescsói, Györfi-Tóth & Partners Law Firm (registered seat: 1124 Budapest, Csörsz u. 49-51.; acting attorney-at-law: dr. Helga Fehér) to prepare and countersign this Agreement, and to represent the Parties before the competent Land Registry Office.
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A Felek kijelentik, hogy a jelen Szerződésben foglaltak az akaratuknak minden tekintetben megfelelnek.
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The Parties declare, that the content of this Agreement corresponds with their contractual will in all respects.
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Mellékletek:
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Annexes:
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1. sz. melléklet: Vázrajz
2. sz. melléklet: A Telek Ingatlanon található Felépítmények helyrajzi számai
3. sz. melléklet: A Mill Products Felépítmények helyrajzi számai
4. sz. melléklet: Az Arconic Felépítmények helyrajzi számai
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Annex 1: Layout
Annex 2: Topographical lot numbers of the Buildings on the Plot Property
Annex 3: Topographical lot numbers of the Mill Products Buildings
Annex 4: Topographical lot numbers of the Arconic Buildings
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Székesfehérvár, 2020. január 6. napján
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Székesfehérvár, 6 January 2020
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______________________________________
Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság
Jogelőd és kötelezett
képviseli: Katus István Gábor, ügyvezető
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______________________________________
Arconic-Köfém Székesfehérvári Könnyűfémmű Korlátolt Felelősségű Társaság
Legal predecessor and obligor
Represented by: István Gábor Katus, managing director
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______________________________________
Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság
Jogutód és jogosult
Képviseli: Gábor Balázs, ügyvezető
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______________________________________
Arconic-Köfém Mill Products Hungary Korlátolt Felelősségű Társaság
Legal successor and right-holder
Represented by: Balázs Gábor, managing director
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A fenti 11. pontban foglalt meghatalmazást elfogadom és a jelen Szerződést ellenjegyzem, Székesfehérváron, 2020. január 6. napján:
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I accept the power of attorney in point 11. And countersign this Agreement, in Székesfehérvár, 6 January 2020
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____________________________
dr. Fehér Helga
Ügyvéd
KASZ: 36059892
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____________________________
dr. Helga Fehér
Attorney at Law
Bar Associaton Number: 36059892
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1.
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The name of the corporation is: ARCONIC ROLLED PRODUCTS CORPORATION
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Name
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State or Country
of Organization
|
Alti Forge Holding S.a.r.l.
|
Switzerland
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Alti Forge JSC
|
Russian Federation
|
Alumax LLC
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Tennessee
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Alumax U.K. Limited
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United Kingdom
|
Arconic Aluminium Deutschland Internationale VmbH & Co.
|
Germany
|
Arconic Architectural Products LLC
|
Delaware
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Arconic Architectural Products SAS
|
France
|
Arconic Austria Services GmbH
|
Austria
|
Arconic Automotive Castings G.P.
|
Michigan
|
Arconic China Investment Company Ltd.
|
China
|
Arconic Closure Systems International UK Limited
|
United Kingdom
|
Arconic Davenport LLC
|
Iowa
|
Arconic France Holding SAS
|
France
|
Arconic GmbH
|
Germany
|
Arconic Holding GmbH
|
Germany
|
Arconic Hungary Finance Kft
|
Hungary
|
Arconic India Private Ltd.
|
India
|
Arconic International Asia Ltd.
|
Hong Kong
|
Arconic Italia S.r.l.
|
Italy
|
Arconic Korea, Ltd.
|
South Korea
|
Arconic Kunshan Aluminum Products Company, Ltd.
|
China
|
Arconic Lafayette LLC
|
Indiana
|
Arconic Lancaster Corp.
|
Delaware
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Arconic Manufacturing Gb Limited
|
United Kingdom
|
Arconic Massena LLC
|
New York
|
Arconic Nederland Holding B.V.
|
Netherlands
|
Arconic Participacoes Ltda.
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Brazil
|
Arconic Qinhuangdao Aluminum Industries Co., Ltd.
|
China
|
Arconic Service LLC
|
Pennsylvania
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Arconic Technology LLC
|
Pennsylvania
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Arconic Tennessee LLC
|
Tennessee
|
Arconic Tube Specialties Inc.
|
Pennsylvania
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Arconic UK Finance
|
United Kingdom
|
Arconic UK Holdings Limited
|
United Kingdom
|
Halethorpe Extrusions, Inc.
|
Delaware
|
Kawneer Aluminium Deutschland, Inc.
|
Germany
|
Kawneer Commercial Windows LLC
|
Pennsylvania
|
Kawneer Company Canada Limited
|
Canada
|
Kawneer Company, Inc.
|
Delaware
|
Kawneer Espana S.L.
|
Spain
|
Kawneer France S.A.
|
France
|
Kawneer Nederland B.V.
|
Netherlands
|
Kawneer U.K. Limited
|
United Kingdom
|
OOO Arconic Rus Investment Holdings
|
Russian Federation
|
Pimalco, Inc.
|
Arizona
|
Wexal International Limited
|
Ireland
|
ZAO Arconic SMZ
|
Russian Federation
|
1.
|
I have reviewed this annual report on Form 10-K of Arconic Corporation;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(c)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Timothy D. Myers
|
Timothy D. Myers
|
Chief Executive Officer
|
1.
|
I have reviewed this annual report on Form 10-K of Arconic Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
|
(a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
(b)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
(c)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
5.
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
/s/ Erick R. Asmussen
|
Erick R. Asmussen
|
Executive Vice President and Chief Financial Officer
|
Dated:
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March 30, 2020
|
/s/ Timothy D. Myers
|
|
|
Timothy D. Myers
|
|
|
Chief Executive Officer
|
|
|
|
Dated:
|
March 30, 2020
|
/s/ Erick R. Asmussen
|
|
|
Erick R. Asmussen
|
|
|
Executive Vice President and Chief Financial Officer
|