Document:

EX-4.7

 Exhibit 4.7 

FORM OF 
 AMENDMENT
AGREEMENT 
 THIS AMENDMENT AGREEMENT (this “Agreement”) is entered into and effective as of
[    ], 2021, by and among Legato Merger Corp., a Delaware corporation (“Legato”), Algoma Steel Group Inc. (formerly known as 1295908 B.C. Ltd.), a company organized under the laws of the Province of British
Columbia (“Algoma”), Continental Stock Transfer & Trust Company, a New York limited purpose trust company (“Continental”), as warrant agent, and TSX Trust Company, a company existing under the laws of
Canada (“TSX”), as Canadian co-warrant agent (“Co-Agent”). Capitalized terms used but not defined herein have the meanings given to
such terms in the Warrant Agreement (as defined below). 
 WHEREAS, Legato and Continental have previously entered into a warrant agreement,
dated as of January 19, 2021 (the “Warrant Agreement”), governing the terms of Legato’s outstanding warrants to purchase shares of common stock of Legato (the “Warrants”); 

WHEREAS, Legato has entered into an Agreement and Plan of Merger, dated as of May 24, 2021 (the “Merger Agreement”), by
and among Legato, Algoma, Algoma Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of Algoma (“Merger Sub”), pursuant to which Merger Sub, will merge through a statutory merger with and
into Legato, with Legato surviving the merger as a direct, wholly-owned subsidiary of Algoma (the transactions contemplated by the Merger Agreement are referred to herein as the “Merger”); 

WHEREAS, at the closing of the Merger (the “Closing”), each outstanding share of Legato’s common stock, par value
$0.0001 per share, will be converted into and exchanged for the right to receive one common share of Algoma (the “Common Shares”); 

WHEREAS, pursuant to Section 2.8(c) of the Merger Agreement and Section 4.5 of the Warrant Agreement, upon the Closing, each
Warrant issued and outstanding immediately prior thereto will be converted into a warrant to purchase Common Shares (collectively, the “Algoma Warrants”), and the rights and obligations of Legato under the Warrant Agreement shall
become rights and obligations of Algoma; 
 WHEREAS, as a result of the foregoing, the parties hereto wish for Legato to cease to have any
rights, interests or obligations in or under the Warrant Agreement and for Algoma to accept and become entitled to and possess all such rights and interests and become subject to all such obligations thereunder, in each case, effective upon the
Closing; and 
 WHEREAS, in connection with the foregoing, the Company desires that TSX be appointed as
Co-Agent for the Warrants under the Warrant Agreement, and TSX is willing to so act as Co-Agent, in connection with the issuance, registration, transfer, exchange,
redemption, and exercise of the Warrants; 
 NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged,
the parties hereby agree as follows: 
 1. Amendment of Warrant Agreement. Effective as of the Closing, Legato shall hereby cease to
have any rights, interest or obligation in or under the Warrant Agreement and Algoma hereby agrees to accept and to become entitled to and possess, all of Legato’s rights and interests, and to become subject to all of Legato’s obligations,
in and under the Warrant Agreement, and Algoma hereby confirms that it agrees to all rights, interests and obligations under the Algoma Warrants. Unless the context otherwise requires, from and after the Closing, any references in the Warrant
Agreement or the Warrants to: (i) the “Company” shall mean Algoma; (ii) “Common Stock” or “shares” shall mean the Common Shares; and (iii) the “Board of Directors” or any committee thereof shall
mean the board of directors of Algoma or any committee thereof. 

 2. Replacement Instruments. As of the Closing, all outstanding instruments evidencing
Warrants shall automatically be deemed to evidence Algoma Warrants reflecting the conversion and adjustment to the terms and conditions described herein and in Section 4.5 of the Warrant Agreement. Following the Closing, upon request by
any holder of a Algoma Warrant, Algoma shall issue a new instrument for such Algoma Warrant to the holder thereof. 
 3. Appointment of Co-Agent. The Company hereby appoints TSX to act as Co-Agent for the Company for the Warrants in Canada, and TSX hereby accepts such appointment and agrees to perform the
same in accordance with the terms and conditions set forth in this Agreement and the Warrant Agreement. 
 4. Amendments to Warrant
Agreement. To the extent required by this Agreement, the Warrant Agreement is hereby deemed amended pursuant to Section 9.8 thereof to reflect the subject matter contained in this Agreement, effective as of the Closing, including as set
forth below: 
  

	 	(a)	 Except as context or applicable law or regulations, including those of any securities exchange on which the
Warrants are listed, require otherwise, all references to “Warrant Agent” shall be deemed to refer to the Warrant Agent and the Co-Agent, as applicable. 

 

	 	(b)	 Section 2.2 of the Warrant Agreement is hereby amended by deleting such Section and
replacing it entirely as follows: 

 2.2. Uncertificated Warrants. Notwithstanding anything
herein to the contrary, any Warrant, or portion thereof, may be issued as part of, and be represented by, a Unit, and any Warrant may be issued in uncertificated or book-entry form through (i) the Warrant Agent and/or the facilities of The
Depository Trust Company (“DTC”), in the United States or (ii) the Co-Agent and/or the facilities of CDS Clearing and Depository Services Inc. in Canada (“CDS” and, each
DTC and CDS, a “Depositary”), or other book-entry depositary system, in each case as determined by the Board of Directors of the Company or by an authorized committee thereof. Any Warrant so issued shall be evidenced by a book
position on the register of holders to be maintained by the Warrant Agent pursuant to this Agreement and such Warrants shall have the same terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent in
accordance with the terms of this Agreement. 
 Upon the written order of the Company, the Warrant Agent shall authenticate
uncertified warrants (whether upon original issuance, exchange, registration of transfer or otherwise) by completing its internal procedures and the Company shall, and hereby acknowledges that it shall, thereupon be deemed to have duly and validly
issued such uncertified warrants under this Agreement. Such authentication shall be conclusive evidence that such uncertificated warrant has been duly issued hereunder and that the holder or holders are entitled to the benefits of this Agreement.
The Warrant Register shall be final and conclusive evidence as to all matters relating to uncertificated warrants with respect to which this Agreement requires the Warrant Agent to maintain records or accounts. In case of differences between the
register at any time and any other time, the register at the later time shall be controlling, absent manifest error and such uncertificated warrants are binding on the Company. 

 

	 	(c)	 Section 2.3 of the Warrant Agreement is hereby amended by deleting such Section and
replacing it entirely as follows: 

 2.3. Effect of Countersignature. Certificated Warrants will be countersigned by
the Warrant Agent upon the receipt of a written order of the Company. Except with respect to uncertificated Warrants as described above, unless and until countersigned by the Warrant Agent pursuant to this Agreement, the Warrant shall be invalid and
of no effect and may not be exercised by the holder thereof. 
 No certified warrant shall be considered issued and shall be obligatory or
shall entitle the holder thereof to the benefits of this Agreement, until it has been certified by manual signature by or on behalf of the Warrant Agent. The authentication of the Warrant Agent of the warrant certificates and uncertificated warrants
issued hereunder shall not be construed as a representation or warranty by such Warrant Agent as to the validity of this Agreement or the Warrants (except the due authentication thereof) and such Warrant

  
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Agent shall in no respect be liable or answerable for the use made of the Warrants or any of them or of the consideration thereof except as otherwise specified herein. 

 

	 	(d)	 Section 2.4.1 of the Warrant Agreement is hereby amended by deleting such Section and
replacing it entirely as follows: 

 2.4.1. Warrant Register. Each of the Warrant Agent and the Co-Agent shall maintain books (“Warrant Register”) for the registration of original issuance and the registration of transfer of the Warrants relating to the Warrants held in their respective
jurisdictions. Upon the issuance of the Warrants, the Warrant Agent or the Co-Agent, as applicable, shall issue and register the Warrants in the names of the respective holders thereof in such denominations
and otherwise in accordance with instructions delivered to the Warrant Agent or the Co-Agent by the Company. Any registered holders of Warrants who hold such securities on the Warrant Register maintained by
the Warrant Agent shall surrender their Warrants for exchange, transfer or exercise to the Warrant Agent. Any registered holders of Warrants who hold such securities on the Warrant Register maintained by the
Co-Agent shall surrender their Warrants for exchange, transfer or exercise to the Co-Agent. 
  

	 	(e)	 Section 2.5 of the Warrant Agreement is hereby amended by adding the words “and
Toronto” after the words “New York City” in the first sentence thereof. 

  

	 	(f)	 The Warrant Agreement is hereby amended by adding the following Sections. 

2.8. Book Entry (Non Certificated) Warrants. Notwithstanding any other provision in this Agreement, no Warrants
issued in the name of a Depository (“Global Warrants”) may be exchanged in whole or in part for Warrants registered, and no transfer of any Global Warrants in whole or in part may be registered, in the name of any person other than
the Depository for such Global Warrants or a nominee thereof unless: 
  

	 	a)	 the Depository notifies the Company that it is unwilling or unable to continue to act as depository in
connection with the Warrants and the Company is unable to locate a qualified successor; 

  

	 	b)	 the Company determines that the Depository is no longer willing, able or qualified to discharge properly its
responsibilities as holder of the Global Warrants and the Company is unable to locate a qualified successor; 

  

	 	c)	 the Depository ceases to be a clearing agency or otherwise ceases to be eligible to be a depository and the
Company is unable to locate a qualified successor; 

  

	 	d)	 the Company determines that the Warrants shall no longer be held as uncertified warrants through the
Depository; 

  

	 	e)	 such right is required by applicable law, as determined by the Company and the Company’s counsel; or

  

	 	f)	 such right is requested by a beneficial owner and approved by the Company in its sole discretion.

 Following which, Warrants for those holders requesting the same shall be registered to the beneficial
owners of such Warrants or their nominees as directed by the Depository. The Company shall provide an officer’s certificate giving notice to the Warrant Agent of the occurrence of any event outlined in this Section 2.8. 

  
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 Subject to the provisions of this Section 2.8 any exchange of Global
Warrants for Warrants which are not Global Warrants may be made in whole or in part in accordance with the provisions of this Agreement. All such Warrants issued in exchange for a Global Warrant or any portion thereof shall be registered in such
names as the Depository for such Global Warrants shall direct and shall be entitled to the same benefits and subject to the same terms and conditions (except insofar as they relate specifically to Global Warrants) as the Global Warrants or portion
thereof surrendered upon such exchange.
 The rights of beneficial owners of Warrants who hold securities entitlements in
respect of the Warrants through the book entry registration system shall be limited to those established by applicable law and agreements between the Depository and institutions that participate in the applicable Depository’s book-entry
registration system (“Book Entry Participants”) and between such Book Entry Participants and the beneficial owners of Warrants who hold securities entitlements in respect of the Warrants through the book entry registration system,
and such rights must be exercised through a Book Entry Participant in accordance with the rules and procedures of the Depository. 

Notwithstanding anything herein to the contrary, neither the Company nor the Warrant Agent nor the Co-Agent nor any agent thereof shall have any responsibility or liability for: 
  

	 	a)	 the electronic records maintained by the Depository relating to any ownership interests or any other
interests in the Warrants or the depository system maintained by the Depository, or payments made on account of any ownership interest or any other interest of any person in any Warrant represented by an electronic position in the book entry
registration system (other than the Depository or its nominee); 

  

	 	b)	 maintaining, supervising or reviewing any records of the Depository or any Book Entry Participant relating
to any such interest; or 

  

	 	c)	 any advice or representation made or given by the Depository or those contained herein that relate to the
rules and regulations of the Depository or any action to be taken by the Depository on its own direction or at the direction of any Book Entry Participant. 

The Company may terminate the application of the Section 2.8 in its sole direction in which case all Warrants shall be
evidenced by warrant certificates registered in the name of a person other than the Depository. 
 Section 2.9
Authorization of Warrants and underlying Common Shares. Subject to the terms and conditions of this Agreement, and subject to any adjustment hereunder, a total of 24,329,000 Warrants (comprising the maximum amount of Public Warrants, Private
Warrants and Working Capital Warrants to be issued) plus any Post IPO Warrants issued after the date hereof, entitling the holders thereof to acquire up to 24,329,000 Common Shares, plus any shares underlying the exercise of any Post IPO Warrants,
are hereby authorized to be issued hereunder upon the terms and conditions herein set forth. 
  

	 	(g)	 Section 3.3.1 of the Warrant Agreement is hereby amended by deleting the first
paragraph of such Section and replacing it entirely as follows: 

 3.3.1. Payment. Subject to
the provisions of the Warrant and this Agreement, a Warrant, when countersigned or authenticated by the Warrant Agent, may be exercised by the registered holder thereof by surrendering it, at the offices of the Warrant Agent or the Co-Agent, as applicable, or at the office of any successor as Warrant Agent, in the Borough of Manhattan, City and State of New York or the City of Toronto in the Province of Ontario, with the subscription form, as
set forth in the Warrant, duly executed, and by paying in full the Warrant Price (in U.S. dollars) for each Common Share as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, as
follows: 

  
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	 	(h)	 Section 3.3.1(c) of the Warrant Agreement is hereby amended by adding the words
“on a cashless basis” following the words “or their permitted transferees,” in the first sentence thereof: 

  

	 	(i)	 Section 3.3.1 of the Warrant Agreement is hereby amended by adding the following
two paragraphs after paragraph (d) thereof as follows: 

 A beneficial owner of uncertificated
warrants evidenced by a security entitlement in respect of Warrants in the book-based registration system who desires to exercise Warrants must do so by causing a Book Entry Participant to deliver to the Depository on behalf of the entitlement
holder, notice of the owner’s intention to exercise Warrants in a manner acceptable to the Depository. Forthwith upon receipt by the Depository of such notice, as well as payment for the aggregate Warrant Price, the Depository shall deliver to
the Warrant Agent confirmation of its intention to exercise Warrants (“Confirmation”) in a manner acceptable to the Warrant Agent, including by electronic means through the book-based registration system. 

Payment representing the aggregate Warrant Price must be provided to the appropriate office of the Book-Entry Participant in a
manner acceptable to it. A notice in form acceptable to the Book-Entry Participant and payment from such beneficial owner should be provided to the Book-Entry Participant sufficiently in advance so as to permit the Book-Entry Participant to deliver
notice and payment to the Depository and for the Depository in turn to deliver notice and payment to the Warrant Agent prior to the Expiration Date. The Depository will initiate the exercise by way of the Confirmation and forward the Warrant Price
electronically to the Warrant Agent and the Warrant Agent will execute the exercise by causing the issuance to the Depository through the book-based registration system the Common Stock to which the exercising holder is entitled pursuant to the
exercise. Any expense associated with the exercise process will be for the account of the entitlement holder exercising the Warrants and/or the Book-Entry Participant exercising the Warrants on its behalf. 

 

	 	(j)	 Section 3.3.5 of the Warrant Agreement is hereby amended by adding the following
two paragraphs at the end thereof as follows: 

 As a result of these limitations, in all instances whereby
the holder of a Warrant has elected to be subject to the provisions contained in this subsection 3.3.5, such warrant exercises will be forwarded to the Company for their approval. Such approval will be provided to the Warrant Agent or the Co-Agent in the form of a certificate of the Company confirming that such holder will not beneficially own in excess of the Maximum Percentage of the issued and outstanding Common Shares as a result of such exercise
and therefore instructing the Warrant Agent or the Co-Agent to proceed with the exercise requested and the Warrant Agent or the Co-Agent shall be fully protected in
relying on such certificate. 
 Neither the Warrant Agent nor the Co-Agent will not
process any exercise of Warrants from holders of a Warrant who have elected to be subject to the provisions contained in this subsection 3.3.5 unless it has received the above certificate from the Company. For greater certainty, neither the Warrant
Agent nor the Co-Agent will have responsibility for monitoring the beneficial ownership level of the Common Shares held by holders and neither will have any liability in regards to the determinations made of
whether or not a holder would become a beneficial holder in excess of the Maximum Percentage of the issued and outstanding Common Shares, such determinations will be the sole responsibility of the Company. 

 

	 	(k)	 The Warrant Agreement is hereby amended by adding the following Section: 

4.11 Protection of Warrant Agent and Co-Agent. Each of the Warrant Agent
and Co-Agent shall not: 
 (a) at any time be under any duty or responsibility to any
holder to determine whether any facts exist which may require any adjustment contemplated by Section 4 or with respect to the nature or extent of any such adjustment when made, or with respect to the method employed in making the same; 

  
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 (b) be accountable with respect to the validity or value (or the kind of
amount) of any Common Shares or any shares or other securities or property which may at any time be issued or delivered upon the exercise of the rights attaching to any Warrant; or 

(c) be responsible for any failure of the Company to issue, transfer or deliver shares or certificates for the same upon the
surrender of any Warrants for the purpose of the exercise of such rights or to comply with any of the covenants contained in this Article 4. 

The Warrant Agent and Co-Agent shall be entitled to act and rely upon the certificates
or adjustment calculations for the Company or the Company’s auditors and any other documents filed by the Company pursuant to Section 4 without verification or liability. 

 

	 	(l)	 Section 5.1 of the Warrant Agreement is hereby amended by deleting such Section
and replacing it entirely as follows: 

 5.1. Registration of Transfer. The Warrant Agent or Co-Agent, as applicable, shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures, in the
case of certificated Warrants, properly guaranteed and accompanied by appropriate instructions for transfer. Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be
cancelled by the Warrant Agent or the Co-Agent. In the case of certificated Warrants, the Warrants so cancelled by the Warrant Agent shall be delivered by the Warrant Agent to the Company from time to time
upon request. All transfers of Warrants held in book entry form with the applicable Depository will not be reflected on the Warrant Register. 
  

	 	(m)	 The Warrant Agreement is hereby amended by adding the following Section: 

6.5 Responsibility for Calculations. All calculations required to be made under Section 3.3.1(b),
Section 3.3.1(c), Section 3.3.1(d), Section 3.3.5 and Section 6 will be the responsibility of the Company and confirmed by written notice to the Warrant Agent (or Co-Agent, if applicable)
of which can be relied upon for all purposes. 
  

	 	(n)	 Section 7.2 of the Warrant Agreement is hereby amended by deleting such Section and
replacing it entirely as follows: 

 7.2. Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is
lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a
new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen,
mutilated, or destroyed Warrant shall be at any time enforceable by anyone. The applicant for the issuance of a new warrant certificate pursuant to this Section 7.2 shall bear the reasonable cost of the issue thereof and in case of loss,
destruction or theft shall, as a condition precedent to the issue thereof, furnish to the Company and to the Warrant Agent evidence of ownership and of the loss, destruction or theft of the warrant certificate so lost, destroyed or stolen
satisfactory to the Warrant Agent and the Company in its sole discretion, acting reasonably, and such applicant may also be required to furnish an indemnity and surety bond in amount and form satisfactory to the Warrant Agent in its sole discretion,
acting reasonably, and shall pay the reasonable charges of the Company and the Warrant Agent in connection therewith. 
  

	 	(o)	 Section 8.2.1 of the Warrant Agreement is hereby amended by deleting such Section
and replacing it entirely as follows: 

 8.2.1. Appointment of Successor Warrant Agent. The
Warrant Agent, Co-Agent, or any respective successor hereafter appointed, may resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’
notice in writing to the Company. If the office of the Warrant Agent 

  
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or Co-Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent or Co-Agent in place of the resigning or incapacitated Warrant Agent or Co-Agent. If the Company shall fail to make such appointment within a period of thirty (30) days
after it has been notified in writing of such resignation or incapacity by such Warrant Agent or Co-Agent or by the holder of the Warrant (who shall, with such notice, submit his Warrant for inspection by the
Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent or Co-Agent at the Company’s
cost. Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of
Manhattan, City and State of New York (in the case of the Warrant Agent, or a corporation organized and existing under the laws of Canada or a Province thereof and having its principal office in the City of Toronto in the Province of Ontario, in the
case of the Co-Agent), and in each case authorized under applicable laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any
successor Warrant Agent or Co-Agent, as applicable, shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent or Co-Agent, as applicable, with like effect as if originally named as Warrant Agent or Co-Agent hereunder, without any further act or deed; but if for any reason it becomes
necessary or appropriate, the predecessor Warrant Agent or Co-Agent shall, upon payment of any outstanding fees and expenses, execute and deliver, at the expense of the Company, an instrument transferring to
such successor Warrant Agent or Co-Agent, as applicable, all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent or Co-Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent or Co-Agent all such authority, powers, rights, immunities, duties, and obligations. 
  

	 	(p)	 Section 8.4.3. of the Warrant Agreement is hereby amended by adding the following
sentences at the end thereof: 

 No duty shall rest with the Warrant Agent to determine compliance of the transferor or transferee with
applicable securities laws. The Warrant Agent shall be entitled to assume that all transfers are legal and proper. The Warrant Agent shall not incur any liability or responsibility whatever or be in any way responsible for the consequence of any
breach on the part of the Company of any of the covenants herein contained or of any acts of any directors, officers, employees, agents or servants of the Company. 
  

	 	(q)	 The Warrant Agreement is hereby amended by adding the following Section: 

8.6 Action by the Warrant Agent. The obligation of the Warrant Agent to commence or continue any act, action or proceeding for the purpose of
enforcing any rights of the Warrant Agent or the holders hereunder shall be conditional upon holders furnishing, when required by notice by the Warrant Agent, sufficient funds to commence or continue such act, action or proceeding and indemnity
reasonably satisfactory to the Warrant Agent to protect and hold harmless the Warrant Agent against the costs, charges and expenses and liabilities to be incurred thereby and any loss and damage it may suffer by reason thereof. None of the
provisions contained in this Agreement shall require the Warrant Agent to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers unless
indemnified as aforesaid. 
  

	 	(r)	 Section 9.2 of the Warrant Agreement is hereby amended by deleting such Section and
replacing it entirely as follows: 

 9.2. Notices. Any notice, statement or demand authorized
by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery, by pdf via email, or if sent by certified mail or private
courier service within five (5) days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows: 

  
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 Algoma Steel Group Inc. 

105 West Street 
 Sault Ste.
Marie, Ontario P6A 7B4 
 Attention: John Naccarato 

Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the
Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is
filed in writing by the Warrant Agent with the Company), as follows: 
 Continental Stock Transfer & Trust Company 

1 State Street 
 New York, New
York 10004 
 Attn: Compliance Department 

TSX Trust Company 
 301—100
Adelaide Street 
 Toronto, Ontario M5H 4H1 

Attn: Vice President, Trust Services 

Email: tmxestaff-corporatetrust@tmx.com 
 with a
copy in each case to: 
 Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 
 New
York, New York 10019 
 Attention: Adam M. Givertz 

Email: agivertz@paulweiss.com 
  

	 	(s)	 Section 9.5 of the Warrant Agreement is hereby amended by deleting such Section and
replacing it entirely as follows: 

 9.5. Examination of the Warrant Agreement. A copy of this
Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York and the office of the Co-Agent in the City of Toronto in the
Province of Ontario, for inspection by the registered holder of any Warrant. The Warrant Agent or Co-Agent, as applicable, may require any such holder to submit his Warrant for inspection by it. 

 

	 	(t)	 The Warrant Agreement is hereby amended by adding the following Sections: 

9.10 Currency. All dollar amounts herein are expressed in United States dollars. 

9.11 Day not a Business Day. If any day on or before which any action or notice is required to be taken or given hereunder is not
a Business Day, then such action or notice shall be required to be taken or given on or before the requisite time on the next succeeding day that is a Business Day. 

5. Applicable Law. The validity, interpretation, and performance of this Agreement shall be governed in all respects by the laws of the
State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. 

6. Counterparts. This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. Execution and delivery of this 

  
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Agreement by electronic mail or exchange of facsimile of .pdf copies bearing the facsimile signature of a party hereto shall constitute a valid and binding execution and delivery of this
Agreement by such party. 
 7. Successors. All the covenants and provisions of this Agreement shall bind and inure to the benefit of
each party’s respective successors and assigns. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the
day and year first above written. 
  

			
	LEGATO MERGER CORP.
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	ALGOMA STEEL GROUP INC.
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 
			
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	TSX TRUST COMPANY
		
	By:	 	 
		 	Name:
		 	Title:
		
	By:	 	 
		 	 Name:

		 	 Title:

 [Signature Page to Amendment Agreement]EX-10.13

 Exhibit 10.13 

FORM OF DIRECTOR AND OFFICER INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (the “Agreement”) is effective as of the ___ day of __________________,
2021 between Algoma Steel Group Inc., a company organized under the laws of the Province of British Columbia (the “Corporation”), and _________________ (the “Indemnified Party”). 

RECITALS: 
  

	A.	 The Board of Directors of the Corporation (the “Board”) considers it in the best interests
of the Corporation to assure the Indemnified Party of reasonable protection through indemnification against certain risks arising out of service to, and activities on behalf of, the Corporation to the extent permitted by law. 

 

	B.	 The constating documents of the Corporation contemplates that the Indemnified Party may be indemnified in
certain circumstances. 

 NOW THEREFORE in consideration of the mutual covenants and agreements contained herein and other
good and valuable consideration (the receipt and sufficiency of which are acknowledged), the parties agree as follows: 
  

	1.	 Interpretation 

 

	 	(a)	 Definitions. In this Agreement, the following terms have the following meaning:

 “Agreement” means this indemnification agreement, as it may be amended or restated from
time to time and the word “Section” followed by a number mean and refer to the specified section of this indemnification agreement. 

“Business Day” means any day, other than a Saturday, Sunday or statutory holiday in Vancouver, British
Columbia. 
 “Expenses” includes costs, charges and expenses, including legal and other fees, but does not
include judgments, penalties, fines or amounts paid in settlement of a Proceeding. 
 “Losses” means all
costs, charges, expenses (including other out-of-pocket expenses for attending discoveries, trials, hearings and meetings to prepare for those proceedings), losses, damages, Taxes, fees (including any legal,
professional or advisory fees or disbursements reasonably incurred), awards, settlements, liabilities, fines, penalties, statutory obligations or amounts paid to settle or dispose of a claim or satisfy a judgment, in each case, which the Indemnified
Party may reasonably suffer, sustain, incur or be required to pay in respect of a threatened, pending or completed Proceeding. 

 “Proceeding” means a claim, demand, suit, proceeding,
inquiry, hearing, discovery or investigation, of whatever nature or kind, whether threatened, reasonably anticipated, pending, commenced, continuing or completed, and any appeal, and whether or not brought by the Corporation or other entity
described in Section 3(c), as applicable. 
 “Taxes” includes any assessment, reassessment, claim or
other amount for taxes, charges, duties, levies, imposts or similar amounts, including any interest and penalties in respect thereof, but excludes taxes on any fees, salary or other form of director or officer compensation the Indemnified Party
receives. 
  

	 	(b)	 Gender and Number. Any reference in this Agreement to gender includes all genders and words importing
the singular include the plural and vice versa. 

  

	 	(c)	 Certain Phrases. In this Agreement: 

 

	 	(i)	 the words “including” and “includes” mean “including (or includes) without
limitation”; and 

  

	 	(ii)	 in the computation of periods of time from a specified date to a later specified date, unless otherwise
expressly stated, the word “from” means “from and including” and if the last day of any such period is not a Business Day, such period will end on the next Business Day. 

 

	 	(d)	 Headings, etc. The division of this Agreement into Sections and the insertion of headings are for
convenient reference only and are not to affect or be used in the construction or interpretation of this Agreement. 

  

	2.	 Indemnification. The Corporation will, subject to Section 3, indemnify and save harmless the
Indemnified Party and the heirs and legal representatives of the Indemnified Party to the fullest extent permitted by applicable law: 

  

	 	(a)	 from and against all Losses sustained or incurred by the Indemnified Party in respect of any civil,
criminal, administrative, investigative or other Proceeding to which the Indemnified Party is involved in by reason of being or having been a director or officer of the Corporation or other entity described in Section 3(c), as applicable; and

  

	 	(b)	 from and against all Losses sustained or incurred by the Indemnified Party as a result of serving as a
director or officer of the Corporation in respect of any act, matter, deed or thing whatsoever made, done, committed, omitted, permitted or acquiesced in by the Indemnified Party as director or officer of the Corporation or other entity described in
Section 3(c), as applicable, whether before or after the effective date of this Agreement and whether or not related to a Proceeding. 

  

	3.	 Entitlement to Indemnification 

  
 2 

	 	(a)	 The rights provided to an Indemnified Party hereunder will, subject to applicable law, apply without
reduction to an Indemnified Party provided that: (i) the Indemnified Party acted honestly and in good faith with the view to the best interests of the Corporation or other entity described in Section 3(c), as applicable; and (ii) in
the case of a criminal or administrative action or Proceeding, other than a civil proceeding, the Indemnified Party had reasonable grounds for believing that his conduct was lawful. 

 

	 	(b)	 This indemnity will not apply to: (i) claims initiated by the Indemnified Party against the Corporation
or any other entity described in Section 3(c), as applicable, except for claims relating to the enforcement of this Agreement; (ii) claims initiated by the Indemnified Party against any other person or entity unless the Corporation or
other entity described in Section 3(c), as applicable, has joined with the Indemnified Party in or consented to the initiation of that Proceeding; (iii) claims by the Corporation for the forfeiture by the Indemnified Party in favour of,
and recovery by, the Corporation of bonuses or other compensation received by the Indemnified Party from the Corporation due to the Indemnified Party’s violation of applicable securities or other laws; or (iv) other claims by or on behalf
of the Corporation or other entity described in Section 3(c), as applicable, against the Indemnified Party. To the extent prior court or other approval is required in connection with any indemnification obligation of the Corporation hereunder,
the Corporation will seek and use all reasonable efforts to obtain that approval as soon as reasonably possible in the circumstances. 

  

	 	(c)	 The indemnities in this Agreement also apply to an Indemnified Party in respect to his service at the
Corporation’s request as: (i) an officer or director of another corporation; or (ii) a similar role with another entity, including a partnership, trust, joint venture or other unincorporated entity. 

 

	 	(d)	 In respect of a Proceeding by or on behalf of the Corporation or other entity described in
Section 3(c), as applicable, to procure a judgment in its favour to which the Indemnified Party is made a party because of the Indemnified Party’s association with the Corporation or other entity described in Section 3(c), as
applicable, the Corporation shall, at the Indemnified Party’s request and at the Corporation’s cost, promptly make an application for approval of a court of competent jurisdiction to indemnify the Indemnified Party against all Losses in
connection with such Proceeding. 

  

	4.	 Presumptions/Knowledge. The knowledge and/or actions, or failure to act, of any other director,
officer, agent or employee of the Corporation or any other entity will not be imputed to the Indemnified Party for any purposes of determining the right to indemnification under this Agreement. 

 

	5.	 Notice by Indemnified Party. As soon as is practicable, upon the Indemnified Party becoming aware of
any Proceeding which may give rise to indemnification under this Agreement other than a Proceeding commenced by the Corporation, the Indemnified Party will give written notice to the Corporation. Failure to give notice in a timely fashion will

  
 3 

	 	 
not disentitle the Indemnified Party to indemnification, except and only to the extent that the Corporation demonstrates that the failure results in the forfeiture by the Corporation of
substantive rights or defenses. Upon receipt of such notice, the Corporation will give prompt notice of the Proceeding to any applicable insurer from whom the Corporation has purchased insurance that may provide coverage to the Indemnified Party in
respect of the Proceeding. 

  

	6.	 Investigation by Corporation. The Corporation may conduct any investigation it considers appropriate
of any Proceeding of which it receives notice under Section 5, and will pay all costs of that investigation. Upon receipt of reasonable notice from the Corporation, the Indemnified Party will, acting reasonably,
co-operate fully with the investigation provided that the Indemnified Party will not be required to provide assistance that would reasonably prejudice: (i) his defence; (ii) his ability to fulfill
his business obligations; or (iii) his business and/or personal affairs. The Indemnified Party will, for the period of time that he cooperates with the Corporation with respect to an investigation, be compensated by the Corporation at the rate
per day (or partial day) equivalent to the per diem that is payable by the Corporation to members of the Board in connection with their attendance at Board meetings, including a reimbursement for travelling and other expenses properly incurred by
the Indemnified Party in connection therewith, such expenses to be reimbursed in the same manner as similar expenses for attendance at Board meetings are reimbursed. The Indemnified Party will not be entitled to the per diem if he is employed as an
officer of the Corporation on such day. 

  

	7.	 Defence of Action. Promptly after receiving written notice of any Proceeding or threatened
Proceeding from the Indemnified Party, the Corporation shall, except as specified in Section 8, assume conduct of the defence thereof in a timely manner and retain counsel on behalf of the Indemnified Party, provided that such counsel is
reasonably satisfactory to the Indemnified Party, to represent the Indemnified Party in respect of the Proceeding. In the event the Corporation assumes conduct of the defence on behalf of the Indemnified Party, the Indemnified Party hereby consents
to the conduct thereof and of any action taken by the Corporation, in good faith, in connection therewith. The Indemnified Party shall fully cooperate in such defence including, without limitation, the provision of documents, attending examinations
for discovery, making affidavits, meeting with counsel, testifying and divulging to the Corporation and its insurers all information reasonably required to defend or prosecute the Proceeding. 

 

	8.	 Right to Independent Legal Counsel. If the Indemnified Party is named as a party or a witness to any
Proceeding, or the Indemnified Party is questioned on any of his actions, omissions or activities are in any way investigated, reviewed or examined in connection with or in anticipation of any actual or potential Proceeding, the Indemnified Party
will be entitled to retain independent legal counsel at the Corporation’s expense to act on the Indemnified Party’s behalf to provide initial assessment to the Indemnified Party of the appropriate course of action for the Indemnified
Party. The Indemnified Party will not be entitled to continued representation by independent counsel at the Corporation’s expense beyond the initial assessment unless (i) the parties reasonably agree that there is a conflict of interest
between the Corporation and the Indemnified Party, and the Indemnified Party shall have been advised by its counsel that representation of both parties by the same 

  
 4 

	 	 
counsel would be inappropriate due to the actual or potential differing interests between them or (ii) the Corporation has not appointed counsel pursuant to Section 7 in a timely
manner. 

  

	9.	 Partial Indemnification. If it is determined by a court of competent jurisdiction that the
Indemnified Party is entitled under any provisions of this Agreement to indemnification by the Corporation for some or a portion of the Losses incurred in respect of any claim but not for the total amount thereof, the Corporation shall nevertheless
indemnify the Indemnified Party for the portion thereof to which the Indemnified Party is determined by a court of competent jurisdiction to be so entitled. 

  

	10.	 Payment for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the
extent that the Indemnified Party is, by reason of the fact that the Indemnified Party is or was a director or officer of the Corporation or another entity, or acting in a capacity similar to an officer or director of another entity, at the
Corporation’s request, a witness or participant other than as a named party in a Proceeding, the Corporation will pay to the Indemnified Party all out-of-pocket
Expenses actually incurred by or on behalf of the Indemnified Party in connection therewith. The Indemnified Party will also be compensated by the Corporation at the rate per day (or partial day) equivalent to the per diem that is payable by the
Corporation to members of the Board in connection with their attendance at Board meetings provided that the Indemnified Party will not be entitled to the per diem if he is a full-time employee of the Corporation on such day. 

 

	11.	 Expenses Advances. Subject to applicable law, the Corporation will, upon request by the Indemnified
Party, make advances (“Expenses Advances”) to the Indemnified Party of all Expenses for which the Indemnified Party seeks indemnification under this Agreement before the final disposition of the relevant Proceeding. In connection
with such requests, the Indemnified Party will provide the Corporation with a written affirmation of the Indemnified Party’s good faith belief that the Indemnified Party is legally entitled to indemnification in accordance with this Agreement,
along with sufficient particulars of the Expenses to be covered by the proposed Expenses Advance to enable the Corporation to make an assessment of its reasonableness. The Indemnified Party’s entitlement to such Expenses Advance pursuant to
this Section 11 will include those Expenses incurred in connection with any Proceeding by the Indemnified Party against the Corporation seeking an adjudication or award pursuant to this Agreement. The Corporation will make payment to the
Indemnified Party within 10 days after the Corporation has received the foregoing information from the Indemnified Party. All Expenses Advances for which indemnification is sought must relate to Expenses anticipated within a reasonable time of the
request. 

 The Indemnified Party will repay to the Corporation all Expenses Advances not actually required
and will repay all Expenses Advances if it is determined by a court of competent jurisdiction that the conditions of Section 3 are not met. The Indemnified Party will provide a written undertaking to the Corporation confirming the Indemnified
Party’s obligations under the preceding sentence as a condition to receiving an Expenses Advance. 
  

	12.	 Indemnification Payments. Subject to Section 3 and with the exception of Expenses Advances which
are governed by Section 11, the Corporation will pay to the Indemnified 

  
 5 

	 	 
Party any amounts to which the Indemnified Party is entitled hereunder promptly upon the Indemnified Party providing the Corporation with reasonable details of the claim. The Corporation will,
forthwith after any request for payment to or for an Indemnified Party, seek any court approval that may be required to permit payment. If the conditions of Section 3 are not met, the Corporation will not be required to pay the Indemnified
Party any amounts pursuant to this indemnification and, further, the Indemnified Party will repay all amounts paid thereto by the Corporation pursuant to this indemnification. 

 

	13.	 Settlement. The parties will act reasonably in pursuing the settlement of any Proceeding. The
Corporation may not negotiate or effect a settlement of claims against the Indemnified Party without the consent of the Indemnified Party, acting reasonably. The Indemnified Party may negotiate a proposed settlement without the consent of the
Corporation. The Corporation will consider in good faith in the best interests of the Corporation whether or not to consent to any such proposed settlement and will advise the Indemnified Party of its determination on a timely basis. If the
Corporation advises the Indemnified Party that it does not consent to the settlement provided the settlement is expressly stated to be made by the Indemnified Party on his own behalf without any admission of liability by the Indemnified Party and/or
the Corporation, the Indemnified Party may nonetheless effect the settlement, but the Corporation will not be liable for indemnification under this Agreement with respect to any such settlement. 

 

	14.	 Directors’ & Officers’ Insurance. The Corporation will
ensure that its liabilities under this Agreement, and the potential liabilities of the Indemnified Party that are subject to indemnification by the Corporation pursuant to this Agreement, are, at all times while the Indemnified Party is a director
or officer of the Corporation or other entity described in Section 3(c), as applicable, and for a period of 6 years thereafter, supported by a directors’ and officers’ liability insurance policy (the “Policy”) with
terms and conditions reasonably appropriate for a public company of a similar size and scope as the Corporation, without regard to the financial circumstances of the Corporation. As may be required by the Policy, the Corporation will immediately
notify the Policy’s insurers of any occurrences or situations that could potentially trigger a claim under the Policy and will promptly advise the Indemnified Party that the insurers have been notified of the potential claim. If the Corporation
is sold or enters into any business combination or other transaction as a result of which the Policy is terminated and not replaced with a substantially similar policy equally applicable to the Indemnified Party, the Corporation will cause run off
“tail” insurance to be purchased for the benefit of the Indemnified Party with substantially the same coverage for the balance of the 6-year term set out in Section 24 without any gap
in coverage. The Corporation will provide to the Indemnified Party a copy of each policy of insurance providing the coverage contemplated by this Section promptly after coverage is obtained, and evidence of each annual renewal thereof, and will
promptly notify the Indemnified Party if the insurer cancels, makes material changes to coverage or refuses to renew coverage (or any part of the coverage). 

  

	 	(a)	 Deductible. If for any reason whatsoever, the Policy insurer asserts that the Indemnified Party is
subject to a deductible under any existing or future Policy purchased and maintained by the Corporation for the benefit of the Indemnified 

  
 6 

	 	 
Party, the Corporation shall pay the deductible for and on behalf of the Indemnified Party. 

  

	 	(b)	 No Double Recovery. The Corporation shall not be obligated to pay the Indemnified Party for any
Losses which have been paid on behalf of the Indemnified Party under any insurance policy maintained by the Corporation or otherwise. 

  

	 	(c)	 Subrogation. To the extent permitted by law, the Corporation shall be subrogated to all rights which
Indemnified Party may have under all policies of insurance or other contracts pursuant to which Indemnified Party may be entitled to reimbursement of, or indemnification in respect of, any Losses borne by the Corporation pursuant to this Agreement.

  

	15.	 Arbitration. Except as otherwise required by applicable law, all disputes, disagreements,
controversies or claims arising out of or relating to this Agreement, including, without limitation, with respect to its formation, execution, validity, application, interpretation, performance, breach, termination or enforcement will be determined
by arbitration to be conducted before a single arbitrator pursuant to the Canadian Arbitration Association Arbitration Rules, which will include the arbitrator determining, based on the outcomes of the arbitration, the breakdown between the
Corporation and the Indemnified Party of the costs for conducting the arbitration. 

  

	16.	 Tax Adjustment. Should any payment made pursuant to this Agreement, including the payment of
insurance premiums or any payment made by an insurer under an insurance policy, be deemed to constitute a taxable benefit or otherwise be or become subject to any tax or levy, then the Corporation will pay any amount necessary to ensure that the
amount received by or on behalf of the Indemnified Party, after the payment of or withholding for tax, fully reimburses the Indemnified Party for the actual cost, expense or liability incurred by or on behalf of the Indemnified Party. However, the
foregoing sentence will not apply to any compensation paid as per diem to the Indemnified Party pursuant to Sections 6 or 10. 

  

	17.	 Cost of Living Adjustment. The per diem payable pursuant to Sections 6 and 10 will be adjusted to
reflect changes from the date of this Agreement in the most recently published Consumer Price Index (all items) for Canada (not seasonally adjusted), published by Statistics Canada or any successor index or government agency in the event that such
per diem would otherwise be less than the as adjusted amount. 

  

	18.	 Governing Law. The Agreement and the legal relations among the parties shall be governed by, and
construed and enforced in accordance with, the laws of the province of British Columbia and the federal laws of Canada applicable therein, without regard to its conflict of laws rules that would result in the application of the laws of another
jurisdiction. 

  

	19.	 Priority and Term. The Agreement will supersede any previous agreement between the Corporation and
the Indemnified Party dealing with this subject matter, and will be deemed to be effective as of the date that is earlier of (i) the date on which the Indemnified Party 

  
 7 

	 	 
first became a director or officer of the Corporation; or (ii) the date on which the Indemnified Party first served, at the Corporation’s request, as a director or officer, or an
individual acting in a capacity similar to a director or officer, of another entity. 

  

	20.	 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of
being enforced by any rule or law, or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal substance of this Agreement is not affected in any manner
materially adverse to either party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto will negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in an acceptable manner to the end that the provisions of this Agreement are fulfilled to the fullest extent possible. 

 

	21.	 Binding Effect; Successors and Assigns. This Agreement shall bind and enure to the benefit of the
successors, heirs, executors, personal and legal representatives and permitted assigns of the parties hereto, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all the business or
assets of the Corporation. The Corporation shall require and cause any successor (whether direct or indirect, and whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by
written agreement in form and substance reasonably satisfactory to the Indemnified Party, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such
succession had taken place. Subject to the requirements of this Section 21, this Agreement may be assigned by the Corporation to any successor (whether direct or indirect, and whether by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of the Corporation. This Agreement may not be assigned by the Indemnified Party without the prior written consent of the Corporation. 

 

	22.	 Covenant. The Corporation hereby covenants and agrees that it will not take any action, including,
without limitation, the enacting, amending or repealing of any provisions of the Corporation’s constating documents, which would in any manner adversely affect or prevent the Corporation’s ability to perform its obligations under this
Agreement. 

  

	23.	 Parties to Provide Information and Co-operate. The
Corporation and the Indemnified Party shall from time to time provide such information and co-operate with the other as the other may reasonably request in respect of all matters under this
Agreement. 

  

	24.	 Survival. The obligations of the Corporation under this Agreement, other than Section 14, will
continue under the later of: (i) 10 years after the Indemnified Party ceases to be a director or officer of the Corporation or other entity described in Section 3(c), as applicable; and (ii) with respect to any Proceeding commenced prior
to the expiration of such 10-year period with respect to which the Indemnified Party is entitled to claim indemnification hereunder, one year after the final termination of that Proceeding. The
obligations of the Corporation under Section 14 of this Agreement will continue for 6 years 

  
 8 

	 	 
after the Indemnified Party ceases to be a director or officer of the Corporation or other entity described in Section 3(c), as applicable. 

 

	25.	 Acknowledgement. The Indemnified Party acknowledges that he has been advised to obtain independent
legal advice with respect to entering into this Agreement, that he has obtained such independent legal advice or has decided not to seek such advice, and that he is entering into this Agreement with full knowledge of its contents, of his own free
will and with capacity and authority to do so. 

  

	26.	 Confidentiality. The Indemnified Party shall keep this Agreement confidential and shall not disclose
it or any of its terms to any other person except and only to the extent required by applicable law. 

  

	27.	 Insolvency. The liability of the Corporation under this Agreement shall not be affected, discharged,
impaired, mitigated or released by reason of the discharge or release of the Indemnified Party in any bankruptcy, insolvency, receivership or other similar proceeding of creditors. The rights of the Indemnified Party under this Agreement shall not
be prejudiced or impaired by permitting or consenting to any assignment in bankruptcy, receivership, insolvency or any other creditor’s proceedings of or against the Corporation or other entity as described in Section 3(c), as applicable,
or by the winding-up or dissolution of the Corporation or the other entity. 

  

	28.	 Multiple Proceedings. No action or proceeding brought or instituted under this Agreement and no
recovery pursuant thereto shall be a bar or defence to any further action or proceeding which may be brought under this Agreement. 

  

	29.	 Notices. Any notice, consent, waiver or other communication given under this Agreement must be in
writing and may be given by delivering it (whether in person, by courier service or other personal method of delivery) or sending it by e-mail or other similar form of electronic record transmission:

 to the Indemnified Party at: 

[●] 

Attention: [●] 

E-Mail: [●] 

to the Corporation at: 

[105 West Street 

Sault Ste. Marie, Ontario 

P6A 7B4] 

Attention: [●] 

E-mail: [●] 

Any such communication is deemed to have been delivered on the date of personal delivery or transmission, as the case may be,
if such day is a Business Day and such delivery or transmission was received by the recipient party prior to 5 p.m. (Vancouver time) and otherwise on the next Business Day. Any party may change its address for service by notice

  
 9 

 
given in accordance with the foregoing and any subsequent notice must be sent to such party at its changed address. 
  

	30.	 Amendments. This Agreement may only be amended, supplemented or otherwise modified by written
agreement of the parties. 

  

	31.	 Waiver. The failure or delay by a party in enforcing or insisting upon strict performance of any of
the provisions of this Agreement does not constitute a waiver of such provision or in any way affect the validity or enforceability of this Agreement or deprive a party of the right, at any time or from time to time, to enforce or insist upon strict
performance of that provision or any other provision of this Agreement. Any waiver by a party of any provision of this Agreement is effective only if in writing and signed by a duly authorized representative of such party. 

 

	32.	 Time of the Essence. Time is of the essence of this Agreement. 

 

	33.	 Counterparts. This Agreement may be executed in any number of separate counterparts (including by
electronic means) and all such signed counterparts will together constitute one and the same agreement. 

 [Signature
page follows] 

  
 10 

 IN WITNESS WHEREOF the parties have executed and delivered this Agreement dated as of the date first written
above. 
  

			
	ALGOMA STEEL GROUP INC.
		
	By:	 	 
		 	Name:
		 	Title:
	
	 
	[Director/Officer]

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