0000927946-06-000054 Sample Contracts

HAYNES INTERNATIONAL, INC. NONQUALIFIED STOCK OPTION AGREEMENT
Nonqualified Stock Option Agreement • April 6th, 2006 • Haynes International Inc • Steel works, blast furnaces & rolling & finishing mills

The Compensation Committee of the Board of Directors of Haynes International, Inc. (the "Company") on March 31, 2006 ("Date of Grant") has granted you an option (the "Option") to purchase 15,000 Shares of the Company pursuant to the Haynes International, Inc. Amended and Restated Stock Option Plan, dated as of November 7, 2005 (the "Plan"), upon the following terms and conditions of this Nonqualified Stock Option Agreement ("Agreement"):