Company: ZEUS
Filing Date: 2025-10-30
Form Type: 425
Source: 0001193125-25-257069
Chunk: 166

Company: OLYMPIC STEEL INC
Filing Date: 2025-10-30
Form: 425
Chunk 166
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, if so determined by the Parent Board or an authorized committee thereof, you will be eligible to participate in an annual cash incentive plan on the same basis as similarly situated employees of Parent, with target bonus opportunities commensurate with your role as reasonably determined by the Parent Board or an authorized committee thereof. You hereby acknowledge and agree that such transition to Parent’s annual cash incentive plan (including, without limitation, the resulting modification to your annual bonus opportunity) shall not constitute “Good Reason” for purposes of the Severance Plan (as defined below).

Long-Term Incentives

In addition, it is hereby acknowledged that you and the Company have mutually agreed that you will not receive a 2026 long-term incentive award
from the Company prior to the Closing. Accordingly, so long as you do not receive any such award, Parent hereby agrees that following the Closing you will be eligible to receive a 2026 long-term incentive award from Parent relating to Parent
restricted stock units with a grant date fair value equal to no less than $1,100,000, subject to the approval of the compensation committee of the Parent Board, and that will be subject to time- and performance-based vesting conditions consistent
with the time- and performance-based vesting conditions that apply to similarly situated executives of Parent and its affiliates; provided, that, any such long-term incentive award will not provide for any special vesting terms relating to
“retirement” or a termination of employment in connection with a “retirement” and will otherwise be subject to the terms and conditions of Parent’s Second Amended and Restated 2014 Omnibus Incentive Plan, as amended or
amended and restated from time to time (the “Parent Equity Plan”).

In addition, in connection with your
Appointment and upon the occurrence of the Closing, Parent is pleased to inform you that, subject to the approval of the compensation committee of the Parent Board, you will be granted a special one-time sign-on Parent restricted stock unit award with a grant date fair value of $3,880,000 (the “Sign On RSU”) pursuant to the Parent Equity Plan and standard form of award agreement, with the
number of shares subject to each Sign On RSU determined using the per-share closing price of Parent’s common stock as of the date of Closing; provided, that in no event will the number of shares
underlying the Sign On RSU grant relate to less than 150,496 shares of Parent or more than 169,309 shares