Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 169

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 169
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 any other plan or policy maintained by the Company or any of its subsidiaries. You further acknowledge and agree that your future commencement of participation
in the Parent’s compensation and employee benefits plans (including short- and long-term incentive plans) in accordance with the terms hereof will not give rise to a claim for “Good Reason” under prong (i) or (ii) of such
definition under the Severance Plan. Further, you hereby acknowledge and agree that you will spend sufficient time at the Company’s offices, facilities and elsewhere to effectively perform your duties and responsibilities and that you may be
required to travel from time to time for business reasons, and that each of the foregoing shall not constitute “Good Reason” pursuant to prong (iii) of such definition under the Severance Plan, in each case regardless of whether
such travel is significantly greater than was customary prior to the Closing.

Except as otherwise modified herein, each of the Severance
Plan, the Incentive Plans, and the awards agreements issued to you thereunder, and any other agreement to which you are a party with the Company or any of its subsidiaries shall remain in full force and effect in accordance with its existing terms
and you will retain all of your rights thereunder as to any future transactions, changes or other matters not described in this Letter Agreement, except that “Good Reason” is to be measured against the reporting structure, authority,
duties, position, and responsibilities assigned to you at Closing in connection with your Appointment and the compensation and benefits contemplated herein. By signing below, Parent hereby assumes and agrees to be subject to and bound by the
Severance Plan from and after the Closing.

3

Scope of Confidentiality, Non-Competeand Non-SolicitRestrictions

Further, as a condition of Parent’s willingness to enter into
this Letter Agreement and your continued employment with the combined companies, you hereby reaffirm the obligations and covenants made by you in favor of the Company pursuant to that certain Participation Notice for the Severance Plan and
acknowledge and agree that from and after Closing all references to the “Company” set forth in the non-competition, non-solicitation and confidentiality
obligations set forth in your Participation Notice for the Severance Plan shall hereafter refer to each of the Company, Parent, and each of their respective direct and indirect subsidiaries (as amended, the “Restrictive Covenants”). The parties hereto acknowledge and agree that the Letter Agreement and the Restrictive Covenants