ALLOY STEEL INTERNATIONAL, INC.
2000 STOCK OPTION PLAN
1. Purpose. The purpose of this Alloy Steel International, Inc. 2000 Stock Option Plan (the "Plan") is to provide
a means whereby Alloy Steel International, Inc. and any present or future subsidiaries (collectively referred to as
the "Company") may, through the grant of options to purchase shares of the Company's common stock, $.01 par
value per share (the "Common Stock"), attract and retain persons of ability as key employees, members of the
Board of Directors and consultants and motivate such individuals to exert their best efforts on behalf of the
2. Shares Subject to the Plan. Options may be granted by the Company from time to time to eligible individuals
to purchase an aggregate of 500,000 shares of Common Stock and 500,000 of such shares shall be reserved for
options granted under the Plan (subject to adjustment as provided in Section 5(h) hereof). The shares issued
upon exercise of options issued under the Plan may be authorized and unissued shares or shares held by the
Company in its treasury. If any option granted under the Plan shall terminate or expire, new options covering such
shares may thereafter be granted to other eligible individuals.
3. Eligibility. Options may be granted under the Plan to employees of the Company, including officers, who are
designated as key employees by the Committee (as defined in Section 4 hereof). Members of the Board of
Directors and consultants of the Company selected by the Committee shall also be eligible to receive options
under the Plan.
4. Administration of the Plan. This Plan shall be administered by a committee (the "Committee") of at least two
members of the Board of Directors, as appointed from time to time. Any action of the Committee with respect to
administration of the Plan shall be taken pursuant to (i) a majority vote at a meeting of the Committee (to be
documented by minutes), or (ii) the unanimous written consent of its members.
Subject to the provisions of the P