X0201 4 2004-03-22 0000003982 ALLIS CHALMERS CORP ACLM 0001224769 SEWARD TODD C 7660 WOODWAY, SUITE 200 HOUSTON TX 77063 0 1 0 0 Chief Accounting Officer Option to Purchase Common Stock .55 2004-03-22 4 A 0 150000 0 A 2013-12-16 Common Stock, par value $0.15 per share 150000 150000 D The option is exercisable (a) immediately with respect to 50,000 shares, (b) on December 16, 2004 with respect to an additional 50,000 shares, and (c) on December 16, 2005 with respect to the remaining 50,000 shares. Not applicable. Todd C. Seward 2004-03-24