Employees' Excess Benefit Plan, Plan C

Exhibit 10(l)

ALCOA INC.

EMPLOYEES' EXCESS BENEFITS PLAN C

AS AMENDED AND RESTATED EFFECTIVE DECEMBER 31, 2007

Pursuant to due authorization by the Board of Directors, Alcoa Inc. has adopted the following Alcoa Inc. Employees' Excess Benefits Plan C, for the exclusive benefit of selected management and highly compensated employees, whose pension benefits calculated under certain qualified and non-qualified plans does not take into account certain deferred compensation amounts.

ARTICLE I - DEFINITIONS 1.1 The following terms have the specified meanings.

A. " Additional Compensation" means any amount which the Participant has irrevocably elected to defer under one or more of the following: (1) the Incentive Compensation Plan of the Company, not including any gain or loss thereon, (2) the Alcoa Deferred Compensation Plan, not including any gain or loss thereon, or (3) the Performance Pay Plan of the Company, not including any gain or loss thereon. B. " Annual Compensation" means the total payments made by the Company and by any Subsidiaries during a calendar year for services rendered as an employee, except as otherwise provided by contractual agreement, other than living and similar allowances and premium pay and payments made for specific purposes as determined under supplemental rules adopted by the Company. Annual Compensation will include any amounts by which the Participant has elected to reduce his or her salary under the Alcoa Savings Plan for Non-Bargaining Employees or under any cash or deferred arrangement established under Section 401(k) of Internal Revenue Code of 1986 as amended, and will include any Additional Compensation. " Special Payments" within the meaning of the Alcoa Deferred Compensation Plan are not treated as Annual Compensation. C. " Average Final Compensation" means the average Annual Compensation as determined under the Rule of Plan I in which the Participant participates.

D. " Board of Directors" means the Board of Directors of the Company. E. " Committee" means the Benefits Management Committee, which has been delegated by the Board of Directors to have the discretionary authority to interpret and administer the Plan.

F. " Company" means Alcoa Inc. G. " Excess Plan" means the amended and restated Alcoa Inc. Employees' Excess Benefit Plan C, adopted by the Company as described herein or as from time to time hereafter amended.


- 1 -

H. " Other Plans" means Plan I, any defined benefit retirement plan of any Subsidiary, Alcoa Inc. Employees' Excess Benefits Plan A (" Excess A" ) and Employees' Excess Benefits Plan B of the Company (" Excess B" ), or such similar plan of any Subsidiary, as any presently exist or may exist in the future.

I. " Participant" means any employee of the Company or any Subsidiary who meets one or more of the following requirements:

(1) retires or dies while covered under Excess B, or (2) has Additional Compensation and is a participant in Plan I, or (3) on or after January 1, 1989, retires, dies or terminates while covered under Plan I, and immediately prior to retirement, death or termination is in a job grade of 19 or above, or an equivalent of such job grades as determined by the Company.

Effective January 1, 2008, any employee who as of December 31, 2007 is a participant in Rule IC of Plan I and is in a job grade of 27 or above, or an equivalent of such job grade as determined by the Company, is excluded from participation in this Plan but will be eligible under the Alcoa Supplemental Pension Plan for Senior Executives.

J. " Pension Service" means the service used to calculate the Participant' s monthly retirement benefit under Plan I.

K. " Plan I" means Alcoa Retirement Plan I. L. " Reduced Average Final Compensation" means Average Final Compensation which is calculated by reducing each year' s Annual Compensation used by one-half of the amount, if any, received by a Participant from the Incentive Compensation Plan and the Performance Pay Plan of the Company.

M. " Subsidiary" means a corporation at least 50% of whose outstanding voting stock is owned or controlled by the Company and/or one or more other Subsidiaries, and any non-corporate business entity in which the Company and/or one or more other Subsidiaries have at least a 50% interest in capital or profits.

N. " Surviving Spouse" means a deceased Participant' s spouse who is entitled to receive surviving spouse benefits un ...