Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 163

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 163
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: | Good Reason Waiver Letter Agreement |

Dear Mr. Siegal, As you are aware, Olympic Steel, Inc., an Ohio corporation (the “ Company”), is negotiating an Agreement and Plan of Merger (the “ Merger Agreement”) to be entered into concurrently herewith between the Company and Ryerson Holding Corporation, a Delaware corporation (the “ Parent”), pursuant to which, upon the consummation of the transactions contemplated therein, the Company would be merged with and into a subsidiary of Parent and the Company and each of its direct and indirect subsidiaries will become directly and indirectly wholly owned subsidiaries of the Parent (the “ Merger”). The purpose of this letter is to memorialize our mutual understanding regarding your continued employment with the combined companies following the consummation of the transactions contemplated by the Merger Agreement (the “ Closing”). In connection with, and upon the occurrence of, the Closing, you will be appointed as the Chairman of Ryerson Holding Corporation and will have duties and responsibilities typically associated with such title, together with such other duties and responsibilities consistent with your position as reasonably assigned to you from time to time. If the Merger is not consummated for any reason, this letter agreement will be void ab initio. Upon your appointment as the Chairman of Ryerson Holding Corporation, you will remain eligible to receive the same annual rate of base salary of $500,000. Your base salary may be adjusted at the sole discretion of the Board of Directors of Parent or an authorized committee thereof from time to time, provided, however, in no event shall your annual rate of base salary be reduced below $500,000 without your written consent. Such base salary shall be in lieu of any other board compensation. By signing below and subject to, and in consideration for, your appointment as Chairman of Ryerson Holding Corporation, you acknowledge and agree that you fully and voluntarily waive your rights to submit a notice of “Good Reason” termination and/or to claim severance or other benefits in connection with such appointment or any change, individually or collectively, in your reporting structure, authority, duties, position, or responsibilities as a result of your appointment, under that certain Management Retention Agreement entered into between the Company and you (the “ Retention Agreement”), or with respect to any of your outstanding awards subject to the Amended and Restated Olympic Steel, Inc. 2007 Omnibus Incentive Plan, as may be amended from time to time (together, the “ Incentive Plans”), and the applicable award agreements issued to you there