Document:

Form Restricted Stock Unit Award Agreement, as amended on July 29, 2008

 Exhibit 10.6 
 RESTRICTED STOCK UNIT 
 AWARD AGREEMENT 
 Pursuant to Section 8 of the 1990 Stock Incentive Plan (the “Plan”) of Schnitzer Steel Industries, Inc., an Oregon
corporation (the “Company”), on <<Date>> the Compensation Committee of the Board of Directors of the Company authorized and granted to <<RSU Participant>> (the “Recipient”) an award of
restricted stock units with respect to the Company’s Class A Common Stock (“Common Stock”), subject to the terms and conditions of this agreement between the Company and the Recipient (this “Agreement”). By accepting
this award, the Recipient agrees to all of the terms and conditions of this Agreement. 
 1. Award and Terms of Restricted
Stock Units. The Company awards to the Recipient under the Plan «RSU_Amount» restricted stock units (the “Award”), subject to the restrictions, terms and conditions set forth in this Agreement. 
 (a) Rights under Restricted Stock Units. A restricted stock unit (a “RSU”) obligates the Company, upon vesting in
accordance with this Agreement, to issue to the Recipient one share of Common Stock for each RSU. The number of shares of Common Stock issuable with respect to each RSU is subject to adjustment as determined by the Board of Directors of the
Company as to the number and kind of shares of stock deliverable upon any merger, reorganization, consolidation, recapitalization, stock dividend, spin-off or other change in the corporate structure affecting the Common Stock generally. 

(b) Vesting Date. The RSUs awarded under this Agreement shall initially be 100% unvested and subject to forfeiture. The
Vesting Reference Date of this Award is <<Vesting Reference Date>>. Subject to Sections 1(c), (d), (e) and (f), the RSUs shall vest in equal annual installments over five years as follows: 
  

			
	 	  	% of RSUs Vested
	 Prior to Vesting Reference Date
	  	0%
	 First anniversary of the Vesting Reference Date
	  	20%
	 Second anniversary of the Vesting Reference Date
	  	40%
	 Third anniversary of the Vesting Reference Date
	  	60%
	 Fourth anniversary of the Vesting Reference Date
	  	80%
	 Fifth anniversary of the Vesting Reference Date
	  	100%

 (c) Acceleration on Death, Disability or Retirement. If the Recipient
ceases to be an employee of the Company or a parent or subsidiary of the Company by reason of the Recipient’s death, disability or retirement, all outstanding but unvested RSUs shall become immediately vested. The term “disability”
means a medically determinable physical or mental condition of the Recipient resulting from bodily injury, disease, or mental disorder which is likely to continue for the remainder of the Recipient’s life and which renders the Recipient
incapable of performing the job assigned to the Recipient by the Company or any substantially equivalent replacement job. The term “retirement” shall mean (i) normal retirement after reaching age 65, (ii) early retirement after
reaching age 55 and completing 10 years of service, or (iii) early retirement after completing 30 years of service without regard to age. 

 (d) Certain Transactions. Notwithstanding any provision in this Agreement (but
subject to the last sentence of this Section 1(d)), in the event of dissolution of the Company or a merger, consolidation or plan of exchange affecting the Company, the Compensation Committee of the Board of Directors (the “Compensation
Committee”) may, in its sole discretion and to the extent possible under the structure of the applicable transaction, select one or a combination of the following alternatives for treating this Award of RSUs: 
 (i) The Award shall remain in effect in accordance with its terms; 
 (ii) All or a portion of the RSUs shall, to the extent then still subject to the vesting restrictions, be released from the vesting
restrictions in connection with the closing of the applicable transaction; or 
 (iii) The RSUs shall be converted into
restricted stock units or restricted stock of one or more of the corporations that are the surviving or acquiring corporations in the applicable transaction. The amount and type of converted restricted stock units or restricted stock shall be
determined by the Company, taking into account the relative values of the companies involved in the applicable transaction and the exchange rate, if any, used in determining shares of the surviving corporation(s) to be held by holders of shares of
the Company following the applicable transaction. Unless otherwise determined by the Company, by action of the Compensation Committee, the converted restricted stock units or restricted stock shall continue to be subject to the forfeiture provisions
applicable to the RSUs at the time of the applicable transaction. 
 Notwithstanding the foregoing provisions of this Section 1(d) to
the contrary, no such alternative shall occur with respect to the RSUs to the extent that, if it did, a 20% tax would be imposed under Section 409A of the Internal Revenue Code on the Recipient. 
 (e) Special Acceleration in Certain Events. Notwithstanding any other provision in this Agreement, upon a change in control of the
Company, all outstanding but unvested RSUs shall become immediately vested. The term “change in control of the Company” means the occurrence of any of the following events: 
 (i) The consummation of: 
 (A) any consolidation, merger or plan of share exchange involving the Company (a “Merger”) as a result of which the holders of outstanding securities of the Company ordinarily having the right to vote for
the election of directors (“Voting Securities”) immediately prior to the Merger do not continue to hold at least 50% of the combined voting power of the outstanding Voting Securities of the surviving corporation or a parent corporation of
the surviving corporation immediately after the Merger, disregarding any Voting Securities issued to or retained by such holders in respect of securities of any other party to the Merger; or 
 (B) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or
substantially all, the assets of the Company; 
  

 2 

 (ii) At any time during a period of two consecutive years, individuals who at the
beginning of such period constituted the Board of Directors of the Company (“Incumbent Directors”) shall cease for any reason to constitute at least a majority thereof; provided, however, that the term “Incumbent Director” shall
also include each new director elected during such two-year period whose nomination or election was approved by two-thirds of the Incumbent Directors then in office; or 
 (iii) Any person shall, as a result of a tender or exchange offer, open market purchases or privately negotiated purchases from anyone other than the Company, have become the beneficial owner
(within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of Voting Securities representing 20% or more of the combined voting power of the then outstanding Voting Securities. For purposes of this
Section 1(e), the term “person” means and includes any individual, corporation, partnership, group, association or other “person,” as such term is used in Section 14(d) of the Securities Exchange Act of 1934, other than
the Company or any employee benefit plan sponsored by the Company. 
 Notwithstanding anything in this Section 1(e) to the contrary,
unless otherwise determined by the Board of Directors of the Company, no change in control of the Company shall be deemed to have occurred for purposes of this Agreement if (1) the Recipient acquires (other than on the same basis as all other
holders of shares of Common Stock of the Company) an equity interest in an entity that acquires the Company in a change in control of the Company otherwise described under subparagraph (i) of this Section 1(e), or (2) the Recipient is
part of a group that constitutes a person which becomes a beneficial owner of Voting Securities in a transaction that otherwise would have resulted in a change in control of the Company under subparagraph (iii) of this Section 1(e).

 (f) Forfeiture of RSUs on Termination of Service. If the Recipient ceases to be an employee of the Company or a
parent or subsidiary of the Company under circumstances where the RSUs have not previously vested and do not become vested pursuant to Section 1(c) or 1(d), the Recipient shall immediately forfeit all outstanding but unvested RSUs awarded
pursuant to this Agreement and the Recipient shall have no right to receive the related Common Stock. 
 (g) Restrictions
on Transfer. The Recipient may not sell, transfer, assign, pledge or otherwise encumber or dispose of the RSUs subject to this Agreement. The Recipient may designate beneficiaries to receive the shares of Common Stock underlying the RSUs subject
to this Agreement if the Recipient dies before delivery of the shares of Common Stock by so indicating on a form supplied by the Company. If the Recipient fails to designate a beneficiary, such Common Stock will be delivered to the person or persons
establishing rights of ownership by will or under the laws of descent and distribution. 
 (h) No Voting Rights;
Dividends. The Recipient shall have no rights as a shareholder with respect to the RSUs or the Common Stock underlying the RSUs until the underlying Common Stock is issued to the Recipient. The Recipient will be entitled to receive any cash
dividends declared on the Common Stock underlying the RSUs after the RSUs have vested and the Common Stock has been issued. The Company shall accrue and pay to the Recipient on the vesting of the RSUs an amount in cash equal to dividends that would
have been paid on the Common Stock underlying the RSUs after the date of the issuance of the RSUs. No interest shall be paid by the Company on accrued amounts. 
  

 3 

 (i) Delivery Date for the Shares Underlying the RSU. As soon as practicable, but
in no event later than thirty days, following a date on which any RSUs vest, the Company will issue the Recipient the Common Stock underlying the then vested RSUs in the form of uncertificated shares in book entry form; provided, however, that if
accelerated vesting of the RSU occurs pursuant to Section 1(c) by reason of the Recipient’s retirement or disability, the date of issuance of the shares underlying the RSUs shall be delayed until the date that is six months after the date
of the Recipient’s separation from service (within the meaning of Section 409A of the Internal Revenue Code); provided further, however, that if accelerated vesting of the RSUs occurs pursuant to Section 1(d) or 1(e), the date of
issuance of the shares underlying the RSUs shall occur as soon as practicable, but in no event later than thirty days, following the earliest to occur of (1) the Recipient’s separation from service (within the meaning of Section 409A
of the Internal Revenue Code (but subject to the immediately preceding proviso)), (2) the Recipient’s death or (3) a change in ownership or effective control of the Company, or in the ownership of a substantial portion of the assets
of the Company, within the meaning of Section 409A(a)(2)(A)(v) of the Internal Revenue Code. The shares of Common Stock will be issued in the Recipient’s name or, in the event of the Recipient’s death, in the name of either
(i) the beneficiary designated by the Recipient on a form supplied by the Company or (ii) if the Recipient has not designated a beneficiary, the person or persons establishing rights of ownership by will or under the laws of descent and
distribution. 
 (j) Taxes and Tax Withholding. The Recipient acknowledges and agrees that no election under
Section 83(b) of the Internal Revenue Code can or will be made with respect to the RSUs. The Recipient acknowledges that, except as provided below, on each date that shares underlying the RSUs are issued to the Recipient (the “Payment
Date”), the Value (as defined below) on that date of the shares so issued will be treated as ordinary compensation income for federal and state income and FICA tax purposes, and that the Company will be required to withhold taxes on these
income amounts. To satisfy the required minimum withholding amount, the Company shall withhold from the shares otherwise issuable the number of shares having a Value equal to the minimum withholding amount. For purposes of this Section 6, the
“Value” of a share shall be equal to the closing market price for the Common Stock on the last trading day preceding the Payment Date. Alternatively, the Company may, at its option, permit the Recipient to pay such withholding amount in
cash under procedures established by the Company. The Recipient acknowledges that under current tax law, the Company is required to withhold FICA taxes with respect to the RSUs at the earlier of (i) the issuance of shares underlying the RSUs or
(ii) the date that the Recipient becomes eligible for retirement (or the date of grant of the RSUs if the Recipient is eligible for retirement at the time the RSUs are granted). To satisfy the required minimum FICA withholding in the event that
Recipient is eligible for retirement, the Recipient shall, immediately upon notification of the amount due, pay to the Company in cash or by check amounts necessary to satisfy applicable FICA withholding requirements. If the Recipient fails to pay
the amount demanded, the Company or the Recipient’s employer may withhold that amount from other amounts payable to the Recipient, including salary, subject to applicable law. 
 (k) Not a Contract of Employment. Nothing in the Plan or this Agreement shall confer upon Recipient any right to be continued in
the employment of the Company or any parent or subsidiary of the Company, or to interfere in any way with the right of the Company or any parent or subsidiary by whom Recipient is employed to terminate Recipient’s employment at any time or for
any reason, with or without cause, or to decrease Recipient’s compensation or benefits. 
  

 4 

 2. Miscellaneous. 
 (a) Entire Agreement; Amendment. This Agreement and the Plan constitute the entire agreement of the parties with regard to the
subjects hereof. 
 (b) Interpretation of the Plan and the Agreement. The Compensation Committee shall have the sole
authority to interpret the provisions of this Agreement and the Plan and all determinations by it shall be final and conclusive. 
 (c) Electronic Delivery. The Recipient consents to the electronic delivery of notices and any prospectus and any other documents relating to this Award in lieu of mailing or other form of delivery. 
 (d) Rights and Benefits. The rights and benefits of this Agreement shall inure to the benefit of and be enforceable by the
Company’s successors and assigns and, subject to the restrictions on transfer of this Agreement, be binding upon the Recipient’s heirs, executors, administrators, successors and assigns. 
 (e) Further Action. The parties agree to execute such instruments and to take such action as may reasonably be necessary to carry
out the intent of this Agreement. 
 (f) Governing Law. This Agreement and the Plan will be interpreted under the laws
of the state of Oregon, exclusive of choice of law rules. 
 (g) Amendment of Prior RSU Awards. The Recipient
acknowledges that the Award is granted on the condition that Sections 1(i) and (j) of the Restricted Stock Unit Award Agreements for all RSUs granted to the Recipient prior to the date hereof are amended to provide for the same terms as those
set forth in Sections 1(i) and (j) of this Agreement, and by accepting the Award Recipient agrees that the prior Restricted Stock Unit Award Agreements are so amended. 
  

			
	SCHNITZER STEEL INDUSTRIES, INC.
		
	 By:
	 	  

		 	 Authorized Officer

  

 5Amended and Restated Deferred Compensation Plan

 Exhibit 10.1 
 AMENDED AND RESTATED 
 MATRIX SERVICE COMPANY 
 DEFERRED COMPENSATION PLAN 
 FOR
MEMBERS OF THE BOARD OF DIRECTORS 
 I. Introduction 
 This Matrix Service Company Deferred Compensation Plan for Members of the Board of Directors (“Plan)” was adopted effective December 31, 2006 (“Effective Date”) and is amended and restated effective
December 31, 2008. This Plan also amends in part the Matrix Service Company Deferred Compensation Plan for Members of the Board of Directors adopted effective January 1, 2005 (the “2005 Plan”) and the Deferred Fee Plan for
Members of the Board of Directors of Matrix Service Company adopted effective October 18, 2000 (the “2000 Plan”). 
 This Plan is intended to comply in all material aspects with Code1 § 409A and the Treasury Regulations
promulgated thereunder. The amendment and restatement of the Plan as of December 31, 2008 is intended to confirm compliance with Code § 409A and applicable Treasury guidance. 
 The purpose of this Plan is to: (1) permit members of the Board of Directors of Matrix Service Company (“Matrix”) to defer compensation earned for services rendered from the Effective Date, forward,
under the terms and conditions therein and (2) bring the 2000 Plan and the 2005 Plan into compliance with the provisions of Code § 409A and the applicable Treasury Regulations. 
 The terms and conditions set forth herein govern in all aspects the rights and obligations of Matrix Service Company and the “Participants” as defined herein in Article II, below. The terms and conditions
set forth herein govern all Elections to defer compensation and all payments due under such Elections under the 2000 Plan and the 2005 Plan from December 31, 2006, forward. However, Elections made and vesting dates established under the 2000
Plan and 2005 Plan shall remain in full force and effect, and the vesting dates under these prior arrangements shall not be accelerated on account of the amendments provided by this Plan. 
 II. Definitions 
 Capitalized terms appearing in this Plan have
the meanings set forth below. 
 A. “Beneficiary” means the person or persons the Participant has designated to receive the
Units, Phantom Stock or Compensation in the event of the Participant’s death. The term “Beneficiary” includes any trust established by the Participant and designated by the Participant as the Beneficiary under this Plan. 

 
  

	 1
	 “Code” means the Internal Revenue Code of 1986, as amended. 

 B. “Board” means the Board of Directors of Matrix Service Company. 
 C. “Change of Control” means (i) a “change in ownership” of Matrix of greater than fifty percent (50%) of
Matrix’ outstanding voting stock within a six (6) month period; (ii) a “change in the effective control” of Matrix, as determined by a change of greater than thirty-five percent (35%) of the ownership of Matrix
outstanding voting stock by a person or persons acting as a group within a twelve (12) month period; or (iii) a “change in the ownership of a substantial portion of the assets” of Matrix Service Company as these terms are defined
under Code § 409A(a)(2)(A)(v) and Treasury Regulations § 1.409A-3(g)(5) or other then existing and applicable Treasury Regulations promulgated under Code § 409A that define the terms “change of control” for deferred
compensation arrangements. 
 Upon identification and notice to the Board of the occurrence of one of the above events, the Board shall consider all the
facts and circumstances at its next meeting, and, on an objective basis and without the exercise of discretion, shall confirm or deny by resolution or majority vote, whether a “Change of Control” exists within the meaning of this
Agreement. Any similar determination by the Board that a “Change of Control” has occurred under the terms of any other deferred compensation or stock option plan offered by Matrix to executives or Board members shall also constitute a
determination that a “Change of Control” has occurred under this Plan. 
 D. “Compensation” means all payments, as
applicable, of Units, Phantom Stock or Deferred Fees as indicated by an Election Agreement made under this Plan, the 2000 Plan or the 2005 Plan. 
 E. “Deferred Fees” means Fees deferred under an Election Agreement and payable as Compensation under such Election Agreement. The term “Fees” includes the term “Unit(s)” under the 2000 and 2005 Plans.

 F. “Disability” means 
 1. That the Participant is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last
for a continuous period of not less than twelve (12) months as certified to the Board by the Participant’s attending physician; or 
 2. That the Participant is, by reason of such certified medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve
(12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan covering employees of the Participant’s employer; or 

 3. That the Participant has been determined to be totally disabled by the Social Security Administration.

 G. “Election” means the designation to defer Fees. 
 H. “Election Agreement” means the individual agreements executed by Matrix Service Company and each Participant under this Plan, the
2000 Plan or the 2005 Plan. The term “Election Agreement” includes the term “Deferred Fee Agreement” as defined by the 2000 Plan. 
 I. “Effective Date” means December 31, 2006. 
 J. “Fees” means all
money provided to a Member by Matrix Service Company each Plan Year in exchange for the Member’s service to the Board. 
 K.
“Matrix” means Matrix Service Company or any successor to Matrix Service Company as provided in Section VI.B., herein below. 
 L. “Member” means any individual person who serves on the Board. 
 M. “Participant” means a
Member who has executed an Election Agreement. 
 N. “Plan Year”
means the 12-month period from January 1st to December 31st each calendar year. 
 O. “Payment Date” means the date the Participant is entitled to
Compensation under the terms of this Plan. The terms of this Plan supercede the terms of the 2000 Plan and 2005 Plan as to the Payment Date. 
 P. “Termination Date” means the date that the Participant separates from service and Matrix does not anticipate, in good faith, that the Participant will return to service on the Board or will, in the future, ever be hired
by Matrix as an employee or independent contractor in some other capacity. 
 Q. “Unit” means “Phantom Stock” as
defined under the 2000 Plan and “Unit” as defined under the 2005 Plan and includes that unitary measure, having a monetary value equal to one share of Matrix’ common stock traded at the close of the Nasdaq Exchange on the effective
date of the Participant’s Election Agreement or Payment Date (as applicable). If the effective date of the Participant’s Election Agreement or Payment Date falls on a weekend or holiday, the value of the Unit shall be calculated as of the
close of the Nasdaq Exchange on the first business day after the Payment Date. 

 III. Eligibility, Elections and Participation 
 A. Eligibility. Any person who is a Member is eligible to be a Participant in this Plan, so long as the Member has not received Compensation as a
Participant in this Plan, the 2000 Plan or the 2005 Plan within the twelve (12) months prior to the date the Participant first became a Member. For purposes of the initial Plan Year of this Plan, a Member is eligible to become a Participant on
the first day of the month following the Board’s resolution or consent to adopt the Plan. 
 B. Authority to Execute the Election
Agreement. The Board will delegate to a Matrix officer the authority to execute an Election Agreement on behalf of Matrix with any Member who is eligible under subsection III.A. 
 C. Election and Participation. An eligible Member must execute an initial Election Agreement as to Fees earned during the first year of services
to the Board within thirty (30) days of becoming a Member. A Member who timely signs an Election Agreement under this Plan, the 2000 Plan or the 2005 Plan is a Participant under this Plan and is bound by the terms of the Plan. 
 D. Annual Elections. 
 1.
Outstanding Elections. Election Agreements executed under the 2000 Plan and 2005 Plan shall constitute binding Election Agreements under this Plan, so long as the terms of such Election Agreements do not conflict with the terms of this Plan.
Where the terms of the Election Agreements executed under the 2000 Plan or 2005 Plan may conflict with the terms of this Plan, the terms of this Plan shall control. Election Agreements executed under the 2000 Plan and 2005 Plan are hereby amended to
conform to the terms of this Plan. 
 2. Elections Under This Plan. Each
eligible Member who desires to elect to receive Deferred Fees for an upcoming PlanYear pursuant to this Plan, and therefore become a Participant, must execute an Election Agreement on or prior to December 31st of the Plan Year prior to the calendar year in which Fees will be earned. For example, a Participant who desires to defer Fees in 2007 must execute an Election Agreement covering
such Fees no later than December 31, 2006. If no Election is made, the Member will be compensated for Fees in cash according to the regular and customary method and payment schedule adopted by the Board. 
 E. Fees Covered by an Election. An eligible Member may specify a portion of Fees to be covered by an Election Agreement, at the Member’s
discretion. 

 F. Nature of the Election/Form of Payment. A Participant may make an Election to receive Deferred
Fees that are to be paid Compensation under this Plan only as described in Article IV herein. Elections to receive Deferred Fees and be paid Compensation in Units under the 2000 Plan or 2005 Plan shall apply under this Plan and payments of
Compensation shall be made in amounts specified by the 2000 Plan or 2005 Plan, as applicable. 
 G. Binding Nature of Elections. Once
an Election Agreement is executed by a Member and Matrix, the Election Agreement may not be modified, amended or revoked for any reason whatsoever. 
 IV.
Terms and Conditions Governing Deferred Fees and Payments of Compensation. 
 A. Duration of Deferral. Each Election
Agreement shall defer Fees covered by the Election Agreement to the date of the triggering event that is the first to occur as follows (the “Triggering Event”): 
  

	 	1.	The Termination Date; 

  

	 	2.	The “Vesting Date” defined under an Election Agreement entered into by a Participant under the 2000 Plan (but only if entered into prior to December 31, 2005);

  

	 	3.	Five (5) years following the Effective Date of the Participant’s Election Agreement; 

  

	 	4.	The date of a Change of Control; 

  

	 	5.	The date of the Participant’s Disability; or 

  

	 	6.	The date of the Participant’s death. 

 Neither the Participant, nor
any Beneficiary or assignee of the Participant, shall have any right to Compensation until the occurrence of the Triggering Event described above. The amount of Compensation due any Participant under this Plan and the applicable Election Agreement
shall be calculated as of the date of the applicable Triggering Event. Participants, and any Beneficiary of any Participant, are unsecured, general creditors of Matrix as to all amounts of Compensation payable under the Plan up to and including the
Payment Date. In no event shall a Participant’s right to Compensation, the Triggering Event, or the Payment Date be accelerated. 
 B. Time of Payment: The Payment Date. The Payment Date for Compensation under this Plan shall be: 
 1. Within thirty
(30) calendar days of the expiration of twelve (12) months from the Participant’s Termination Date, so long as the Participant has not become a Member of the Board within that twelve (12) month period and has not contracted with
Matrix or become an employee of Matrix within that period. Notwithstanding the foregoing, in the event that Compensation is payable with respect to deferrals under the 2000 Plan or 

 
2005 Plan, then if the application of the foregoing provision would cause a payment which would otherwise have been made in 2008 to be paid in
2009, such payment shall be made on December 31, 2008. Any change of time or payment under this Plan with respect to amounts deferred under the 2000 Plan or 2005 Plan shall conform with the transition rules of Internal Revenue Service
Notice 2007-86; 
 2. Within thirty (30) calendar days of the date the Participant has a Disability and has ceased being a Member as a
result of the Disability; 
 3. Within thirty (30) days after the end of the five (5) year period following the date of the
Participant’s Election; 
 4. Within thirty (30) calendar days of the Change of Control of Matrix; 
 5. Within thirty (30) calendar days of the Vesting Date defined under an Election Agreement entered into by a Participant under the 2000 Plan (but
only if entered into prior to December 31, 2005); or 
 6. Within thirty (30) calendar days of the date of the Participant’s
death, where death is the Triggering Event under subsection IV.A., above; 
 In the event a Participant becomes a Member of the Board, an independent
contractor or employee of Matrix within the twelve (12) month period following the Participant’s Termination Date, the Participant shall not be deemed to have incurred a Termination Date and no payment will be made at that time. In such an
event, the Triggering Event for payment of Compensation to the Participant shall not be deemed to have occurred until the first to occur of one of the other Triggering Events specified above or the occurrence of a subsequent
Termination Date. 
 C. Amount of Compensation. Compensation for Deferred Fees under this Plan shall be calculated as follows:

 1. Where a Participant has executed an Election Agreement under this Plan on or after December 31, 2006, Compensation shall be equal
to the amount of Deferred Fees commencing on the date of the Election, plus the rate of interest or earnings otherwise payable upon such Deferred Fees as specified in the Election Agreement for the period from the date of the Election to the date of
the Triggering Event. Any interest or earnings upon Deferred Fees shall be payable at the same time and in the same form as the payment of the Compensation to which they relate. 
 2. Where a Participant has executed an Election Agreement under the 2000 Plan or 2005 Plan, the amount of Compensation shall be equal to the value of the
Units or Compensation (including accrued interest) as 

 
specified by those Plans and defined by this Plan for the period from the date of Election to the date of the Triggering Event. Any accrued interested with
respect to Units or Compensation shall be payable at the same time and in the same from as the payment of the Units or Compensation to which they relate. 
 V. Forfeitures Notwithstanding any provision of this Plan, a Participant who has executed an Election Agreement will permanently forfeit his or her right to Deferred Fees and Compensation when, before any Payment Date, a
unanimous vote of the Board is taken (the affected Participant abstaining) and it is determined by the Board that one of the following events has occurred: 
 A. Activity Adverse to Matrix. The Participant has engaged in activity that is adverse to Matrix’ interests in connection with the Participant’s obligation to service Matrix as a Member; 

B. Fraudulent Activity. The Participant has engaged in activity that is willfully fraudulent and the activity has caused Matrix significant
economic harm; 
 C. Conviction of a Felony. The Participant has been convicted of a felony under state or federal law, and the
conviction has had an adverse impact upon Matrix. 
 The Board’s determination that any one of these events has occurred is final and not reviewable or
appealable under any administrative or judicial proceeding. 
 VI. Miscellaneous Provisions 
 A. Right to Terminate or Amend the Plan. The Board may amend or terminate this Plan at any time. However, the termination of this Plan shall not
void Election Agreements then outstanding and shall not accelerate Triggering Events or Payment Dates specified herein as to such Election Agreements. Amendments to the Plan shall also not accelerate Triggering Events or Payment Dates specified
herein for Election Agreements in force as of the date of the amendment. 

 B. Successors to Matrix Service Company. The Plan shall be deemed assigned to and binding upon any
successor entity to Matrix, and shall remain in effect as provided by Section II. K, above. 
 C. Governing Law. This Plan shall be
construed and governed by the laws of the State of Oklahoma, except when superceded by federal law. 
 D. No Trust. Neither this Plan,
nor any Election Agreement under this Plan, shall be deemed to create a trust in favor of any Member, Participant or Beneficiary. 
 E. No
Assignment. The Participant’s rights under this Plan may not be transferred, assigned or otherwise subject to alienation, except with respect to a designation of Beneficiary or Beneficiaries. The rights created under this Plan are not
subject to the claims of any Participant’s creditors. 
 F. Payment of Taxes. In the even that the terms of this Plan or any
Election Agreement is deemed by any state or federal taxing authority to create a presently ascertainable value constructively received by the Participant on the effective date of the Election Agreement, Matrix shall pay to the Participant the
amount of any interest or penalties assessed specifically on account of the Plan’s terms or a Participant’s failure to include amounts of Deferred Fees into gross income in the tax year the Election is made. Notwithstanding the foregoing,
any such interest or penalties shall be paid no later than the December 31 of the year following the year in which the payments are remitted by the Participant to the taxing authority. 
 G. Headings. Headings contained in this Plan are for the convenience of Matrix and the Participants and do no alter, supplement or amend the terms
and conditions of the Plan. 
 H. No Contract for Services. The terms of this Plan do not create a contract for services for any
specific duration between the Member and Matrix. 
 I. Entire Plan. This Plan contains the entire agreement between Matrix and the
Participants and Members. Unless expressly referenced herein, the terms of any prior arrangement governing the same subject matter, including the terms of the 2000 Plan and 2005 Plan do not survive the adoption of this Plan. This Plan may not be
amended absent a resolution or consent passed and/or executed by a majority of the Board. This Plan may be executed in one or more counterparts. 
  

					
	MATRIX SERVICE COMPANY	  	
			
	By:	  	 /s/ Nancy E. Austin
	  	
	Its:	  	V.P. Human Resources	  	

					
		
	BOARD OF DIRECTORS OF MATRIX SERVICE COMPANY	  	
			
		  	 /s/ Michael J. Hall - Chairman of the Board of Directors
	  	
			
		  	 /s/ Michael J. Bradley - Director
	  	
			
		  	 /s/ I. Edgar Hendrix - Director
	  	
			
		  	 /s/ Paul K. Lackey - Director
	  	
			
		  	 /s/ Tom E. Maxwell - Director
	  	
			
		  	 /s/ David E. Tippeconnic - Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00151-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00151-of-00352.parquet"}]]