1
EXHIBIT 10.13
AMENDMENT TO THE
QUANEX CORPORATION 1987 NON-EMPLOYEE
DIRECTOR STOCK OPTION PLAN
THIS AGREEMENT by Quanex Corporation (the "Company"),
W I T N E S S E T H:
WHEREAS, the Board of Directors of the Company previously adopted the
plan agreement known as the "Quanex Corporation 1987 Non-Employee Director Stock
Option Plan" (the "Plan"); and
WHEREAS, the Board of Directors of the Company retained the right to
amend the Plan from time to time; and
WHEREAS, the Board of Directors of the Company has approved the
following amendment to the Plan;
NOW, THEREFORE, the Board of Directors of the Company agrees that
Section 8 of the Plan is completely amended to provide as follows:
8. TRANSFERABILITY OF OPTIONS. Except as expressly provided
otherwise in an Optionee's Agreement, an Option shall not be
transferable by the Optionee otherwise than by will or under the laws
of descent and distribution, and shall be exercisable, during the
Optionee's lifetime, only by him.