EXHIBIT 10.42 Summary - Executive Severance Package Purpose: To provide reduction- in- force benefits for certain key employees from January 1997 through June 1998 Requirements: - Employees must fulfill service and performance stipulations through designated termination date Severance Payment Tiers Amounts Tier I - Office of 18 months base salary the Chief plus 1997 termination Executive allowance package Tier II - all 12 months base salary other officers of plus 1997 termination Reynolds Metals allowance package Company Tier III - other 6 months base salary key employees plus 1997 termination allowance package Outplacement Full individualized outplacement services until individual is successfully placed. Incentive If the employee works at least six months during the incentive year, then a pro-rata award based on performance and number of months worked during incentive year will be made. Release Employees must sign a release to be Requirement eligible for benefits under this policy. Note: "Officer" does not include assistant officers.