Company: ZEUS
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001437749-25-009843
Chunk: 37

Company: OLYMPIC STEEL INC
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 37
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4 would be $56,433. Ms. Christen does not have a retention agreement and is not entitled to any such payments other than those in respect of her equity awards (including her phantom awards) as described above.

Employment Agreements

The Severance Plan discussed above replaced the employment agreements previously in effect during 2024 for Messrs. Marabito, Greiff and Manson. In addition to potential payments due to change in control, the Severance Plan also covers potential payments due to death or disability or involuntary terminations without cause. The Severance Plan contains a two-year non-competition and non-solicitation prohibition and customary confidentiality provisions. In connection with the termination of the formal employment agreements and commencement of participation in the Severance Plan, the Company entered into employment continuation letters with Messrs. Marabito, Greiff and Manson effective January 1, 2024, December 18, 2024, and December 18, 2024, respectively.

Under the employment continuation letters, Mr. Marabito will serve as our Chief Executive Officer, be nominated to the Board and receive a base salary of $975,000, Mr. Greiff will serve as our President & Chief Operating Officer and receive a base salary of $775,000, and Mr. Manson will serve as our Chief Financial Officer and receive a base salary of $550,000. The base salaries may be adjusted at the sole discretion of the Board or any authorized committee thereof from time to time. In addition, Messrs. Marabito, Greiff and Manson are eligible to receive an annual performance bonus in such amount and based on the Company’s performance against specific target levels as determined by the Board or any duly authorized committee thereof and participate in any long term incentive plan of the Company maintained by it from time to time, as well as participate in all welfare and benefit plans maintained or established by the Company for its senior executives.

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If Messrs. Marabito, Greiff or Manson’s employment were to be terminated without cause, they would continue to receive their base salary, annual bonus and any other benefits applicable to them under the welfare and benefit plans we maintain, including Company contributions to the Supplemental Executive Retirement Plan and 401(k) and profit-sharing plan, coverage under our medical, dental, disability and life insurance programs, reimbursement for personal tax and financial planning and an allowance for country club dues, an automobile and a cell phone, as in effect on the date of termination,