Document:

EXHIBIT 10.12

                                                              February 17, 2005

Sunrise Securities Corp.
641 Lexington Avenue
25th Floor
New York, New York 10022

                  Re:   International Metal Enterprises, Inc.
                        -------------------------------------

Gentlemen:

                  This letter will confirm the agreement of the undersigned to
purchase warrants ("Warrants") of International Metal Enterprises, Inc.
("Company") included in the units ("Units") being sold in the Company's initial
public offering ("IPO") upon the terms and conditions set forth herein. Each
Unit is comprised of one share of Common Stock and two Warrants. The shares of
Common Stock and Warrants will not be separately tradeable until 90 days after
the effective date of the Company's IPO unless Sunrise Securities Corp.
("Sunrise") informs the Company of its decision to allow earlier separate
trading.

                  The undersigned agrees that this letter agreement constitutes
an irrevocable order for Sunrise to purchase for the undersigned's account
within the forty-trading day period commencing on the date separate trading of
the Warrants commences ("Separation Date") up to _____________ Warrants at
market prices not to exceed $0.70 per Warrant ("Maximum Warrant Purchase").
Sunrise (or such other broker dealer(s) as Sunrise may assign the order to)
agrees to fill such order in such amounts and at such times as it may determine,
in its sole discretion, during the forty-trading day period commencing on the
Separation Date. Sunrise further agrees that it will not charge the undersigned
any fees and/or commissions with respect to such purchase obligation.

                  The undersigned may notify Sunrise that all or part of the
Maximum Warrant Purchase will be made by an affiliate of the undersigned (or
another person or entity introduced to Sunrise by the undersigned (a
"Designee")) who (or which) has an account at Sunrise and, in such event,
Sunrise will make such purchase on behalf of said affiliate or Designee;
provided, however, that the undersigned hereby agrees to make payment of the
purchase price of such purchase in the event that the affiliate or Designee
fails to make such payment.

                  The undersigned agrees that neither he nor any affiliate or
Designee shall sell or transfer the Warrants until after the consummation of a
merger, capital stock exchange, asset acquisition or other similar business
combination and acknowledges that, at the option of Sunrise, the certificates
for such Warrants shall contain a legend indicating such restriction on
transferability.

                                                     Very truly yours,

                                                     ------------------exv10w1

 

Exhibit 10.1

EQUITY OFFICE PROPERTIES TRUST

NON-QUALIFIED SHARE OPTION AGREEMENT

FOR MEMBERS OF THE BOARD OF TRUSTEES

     This NON-QUALIFIED SHARE OPTION AGREEMENT (the “Agreement”), is entered into and made
effective as of ___between Equity Office Properties Trust, a Maryland real estate
investment trust (the “Company”), and ___(the “Optionee”).

W I T N E S S E T H:

     WHEREAS, the Company has granted the Optionee the right to purchase authorized common shares
of beneficial interest of the Company, par value of $.01 per share (“Shares”), as authorized under
the Equity Office Properties Trust
[1997 Share Option and Share Award Plan, as amended][2003 Share Option and Share Incentive Plan, as amended](the “Plan”).

     NOW, THEREFORE, in consideration of the foregoing, and the promises and mutual covenants set
forth in this Agreement, the Company and Optionee hereby agree as follows:

     1. Grant of Option. Subject to the terms and conditions provided in this Agreement and the
Plan, the Company hereby grants to the Optionee a non-qualified share option (the “Option”) to
purchase all or part of ___Shares, effective ___(the “Grant Date”).

     2. Term of Option.

	 	(a)  	Except as provided below, the term of the Option shall be for a
period of ten (10) years beginning on the Grant Date and ending on ___
(the “Expiration Date”).

	 	(i)  	If the Optionee’s Service (defined below)
terminates for cause, the Option shall expire immediately and all
rights to purchase Shares under the Option shall cease. Termination
for cause shall be determined by the Compensation Committee of the
Board of Trustees (the “Committee”) in its discretion. For purposes of
this Agreement and the Plan, an Optionee’s “Service” shall continue
until he or she is no longer an employee, officer, trustee or
consultant of the Company or any [Extended Company]
[Subsidiary] (as defined in the
Plan).
	 
	 	(ii)  	If the Optionee’s Service terminates other
than:

	 	(A)  	for cause;

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	 	(B)  	because of the Optionee’s death
or Disability (as defined in the Plan);
	 
	 	(C)  	in connection with the Trustee’s
failure to be re-elected to the Board; or
	 
	 	(D)  	following a “Change in Control”
of the Company (defined below),

	 	   	the Option shall not be exercisable with respect to any additional
Shares as determined below in Paragraph 4 on the date such Service
terminates, and shall expire three (3) months after the date of
termination of the Optionee’s Service. As of the effective date of
the termination of Service and thereafter, the Optionee shall be
allowed to exercise the Option with respect to the number of Shares
as to which the Option is exercisable as of the date of the
termination, but only if the Optionee has satisfied any outstanding
debts or liabilities to the Company and has returned all Company
property in his possession.
	 
	 	(iii)  	If the Optionee’s Service terminates because
of his death, the Option shall be exercisable in full and shall expire
twelve (12) months after the date of the Optionee’s death and shall be
exercisable by the person or persons to whom the Option passes by will
or by the laws of descent and distribution in accordance with Paragraph
6 below.
	 
	 	(iv)  	If the Optionee’s Service terminates because of
his Disability, in connection with the Optionee’s failure to be
re-elected to the Board, or following a Change in Control of the
Company, the Option shall be immediately exercisable in full and shall
expire on the Expiration Date.

	 	(b)  	Notwithstanding the foregoing provisions, the “Plan
Administrator” (defined below) may provide, at any time before the Expiration
Date, that the Option shall not expire prior to the date it would otherwise
expire under this paragraph, and may provide, in connection therewith,

	 	(i)  	the date or event that will cause the Option to
expire (or that the Option will expire on the Expiration Date); and/or
	 
	 	(ii)  	the extent to which the Option shall continue
to become exercisable.

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	 	   	Notwithstanding the foregoing, in no event shall the Option be exercisable
later than the Expiration Date, and all rights to purchase Shares pursuant
to the Option shall cease as of the Expiration Date or its earlier
expiration as provided herein.
	 
	 	(c)  	Notwithstanding any other provision in this Agreement, the
Company’s Chief Legal Counsel, in his sole and absolute discretion, may suspend
the Optionee’s right to exercise an Option for up to thirty (30) days if he
determines that the Optionee’s Service has been or, in his sole and absolute
judgment, may be suspended or terminated for any reason.
	 
	 	[(d)  	For purposes of this Agreement, a “Change in Control” shall be
deemed to occur upon:

(i) the acquisition by any entity, person or group of more than fifty
percent (50%) of the outstanding Shares from the holders thereof;

(ii) a merger or consolidation of the Company with one or more other
entities as a result of which the ultimate holders of outstanding
Shares immediately prior to such merger hold less than fifty percent
(50%) of the shares of beneficial ownership of the surviving or
resulting corporation; or

(iii) a direct or indirect transfer of substantially all of the
property of the Company other than to an entity of which the Company
directly or indirectly owns at least fifty percent (50%) of the shares
of beneficial ownership.]

	 	[(d)  	A “Change in Control” shall be deemed to occur upon:

	 	•  	the acquisition by any entity, person or group of more than thirty percent (30%) of the combined
voting power of the outstanding voting securities of Equity Office;
	 
	 	•  	approval by shareholders of Equity Office of a merger, consolidation or reorganization of Equity
Office with one (1) or more other entities, as a result of which the holders of all outstanding
voting securities of Equity Office immediately prior to such transaction hold less than seventy
percent (70%) of the combined voting power of the outstanding voting securities of the surviving or
resulting corporation in substantially the same relative proportion as their ownership of the
outstanding voting securities of Equity Office immediately before the transaction and the incumbent
members of the Board of Trustees of Equity Office immediately before the transaction do not
constitute at least a majority of the members of the board of the resulting corporation; or
	 
	 	•  	approval by shareholders of Equity Office of a complete liquidation or dissolution of Equity
Office; or
	 
	 	•  	the rejection by the voting beneficial owners of the outstanding Shares of the entire slate of
trustees proposed by the Board at a single election of trustees; or
	 
	 	•  	
the rejection by the voting beneficial owners of the outstanding Shares of one-half or more of the
trustees proposed by the Board over any two or more consecutive elections of trustees; or
	 
	 	•  	approval by shareholders of Equity Office of an agreement for the sale of substantially all of
the assets of Equity Office other than to an entity of which Equity Office directly or indirectly
owns at least seventy percent (70%) of the voting share.]

	 	(e)  	For purposes of this Agreement, “Plan Administrator” shall mean
the President and Chief Executive Officer of the Company and any one member of
the Committee, or the full Committee. Notwithstanding the foregoing, where the
affected Optionee is a “covered employee” for purposes of Section 162(m) of the
Code,

	 	(i)  	any authority of the Plan Administrator may
only be exercised if the existence of such authority would not cause
the Option to fail to constitute performance based compensation on its
Date of Grant under Treasury Regulation Section 1.162-27; and
	 
	 	(ii)  	“Plan Administrator” shall mean only the full
Committee if the exercise of such authority by the President and Chief
Executive Officer and any one member of the Committee would adversely
affect the Option’s status as performance based compensation and its
exercise by the full Committee would not so affect such status.

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     3. Purchase Price. The per share purchase price of the Shares shall be $___subject
to adjustment as provided below in Paragraph 5.

     4. Exercise of Share Option. This Paragraph 4 describes the time and manner in which
the Share Option may be exercised.

	 	(a)  	The Share Option shall be exercisable in accordance with a vesting schedule
under which ___(_/_) of the Share Options will vest on the ___anniversary of
the Grant Date, and ___(_/_) of the Share Options will vest on each of the
___anniversaries of the Grant Date. Notwithstanding the foregoing, the
Share Option shall become fully vested and immediately exercisable with respect to all
of the Shares if the Optionee’s Service terminates as a result of his or her death,
Disability or retirement at or after his or her attainment of age 62 or following a
Change in Control.
	 
	 	(b)  	Once the Share Option becomes exercisable, the Optionee or such other persons
as are entitled to exercise the Share Option (as described in Paragraphs 2(c) and 6
hereof) may exercise the Share Option by providing written notice to exercise prior to
the Expiration Date to the attention of Fidelity Investments, or such other broker as
the Company shall identify in a written notice to Optionee as the Company’s designated
broker for the Plan (the “Designated Broker”). Such written notice to exercise or
electronic transmission of notice to exercise shall be in a form acceptable to the
Designated Broker and may state that the Share Option is being exercised thereby and
the number of Shares in respect of which it is being exercised. Such written notice
shall be signed by the person or persons so exercising the Share Option and shall be
accompanied by payment in full of the purchase price for such Shares, together with any
required state, federal and payroll withholding taxes. Payments under this Paragraph 4
may be made (i) in cash, (ii) in Shares to be valued at the Fair Market Value thereof
(as defined under the Plan) on the date of such exercise, (iii) with other
consideration deemed to be acceptable by the Committee, or (iv) with a combination of
any of the foregoing means. If the Share Option shall be exercised by any person or
entity other than the Optionee, such written notice and payment must also be
accompanied by appropriate proof of the right of such person or entity to exercise the
Share Option. As soon as practicable following its receipt of sufficient written
notice, payment and any other required documentation, the Designated Broker shall
register, in the name of the person or entity exercising the Share Option, the Shares
purchased under the Share Option.
	 
	 	(c)  	Notwithstanding any provision of this Agreement or the Plan to the contrary,
the Optionee or such other persons as are entitled to exercise the Share Option (as
described in Paragraphs 2(c) and 6 hereof) will be prohibited from exercising the Share
Option to the extent that the Chief Legal Counsel of the Company has determined that
purchases and sales of Company securities should be restricted because of the existence
or potential existence of material nonpublic information

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concerning the Company, whether or not such determination has been communicated to
the Optionee or such other persons. If the Chief Legal Counsel of the Company has
made such a determination and the Optionee or such other persons give notice of an
intent to exercise the Share Option (and satisfy all other conditions to the
exercise of the Share Option), the Chief Legal Counsel shall advise the Optionee or
such other persons concerning such restrictions, and unless such notice is
withdrawn, the effective time of the Optionee’s exercise shall be postponed to the
earlier of the date that the Chief Legal Counsel determines that such restriction is
no longer necessary with respect to exercises of the Share Option or the day before
the date that the Share Option expires.

     5. Adjustment of Shares Subject to the Share Option. In the event of any change in
the number of outstanding Shares by reason of any Share dividend, split, recapitalization, merger,
consolidation, combination, exchange of Shares or other similar corporate change, the aggregate
number and kind of Shares subject to the Share Option shall be proportionately adjusted by the
Committee so that the aggregate value of such Shares shall remain unchanged, and the terms of this
Agreement may be adjusted by the Committee in such manner as it deems equitable. If the foregoing
adjustment results in a fractional number of Shares being subject to the Share Option, then upon
any exercise of the Share Option, the Company or its agent shall pay cash to the Optionee (or such
other person or entity exercising the Share Option) in an amount equal to the excess of the Fair
Market Value (as defined under the Plan) of such fractional Share over its exercise price. All
adjustments under this Paragraph 5 shall be made in the sole discretion of the Committee as it
deems necessary and appropriate and shall be effective as of the day such action necessitating such
adjustment becomes effective. Notwithstanding the foregoing, in no event shall the price per Share
provided under this Agreement be adjusted below the par value of any such Share.

     6. Transferability. The Share Option shall not be transferable other than:

	 	(a)  	by will or the laws of descent and distribution;
	 
	 	(b)  	pursuant to a “qualified domestic relations order” (as such term is defined
under the Internal Revenue Code (the “Code”)), to the extent not inconsistent with the
applicable provisions of the Code; or
	 
	 	(c)  	pursuant to a transfer made by the Optionee during his or her lifetime to his
or her spouse, child or children, grandchild or grandchildren, or other family member
or to a trust for the benefit of one (1) or more of such family members, provided that:
(i) the transferee thereof shall hold such Share Option subject to all of the
conditions and restrictions contained herein and in the Plan; and (ii) as a condition
of such transfer, the Company may require the transferee to agree in writing (in a form
acceptable to the Committee) that the grant is subject to such conditions and
restrictions.

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The Share Option may not be assigned, transferred, pledged or hypothecated in any way, shall
not be assignable by operation of law, nor subject to execution, attachment or similar
process, except as provided in this Paragraph 6. Any attempted assignment, transfer,
pledge, hypothecation or other disposition of the Share Option contrary to the provisions of
this Paragraph 6 and of the Plan, and the levy of any execution, attachment or similar
process upon the Share Option, shall be null and void and without effect.

     7. Withholding Taxes. To the extent that income recognized by the Optionee with
respect to the Option is subject to all withholding tax requirements, payment of part or all of the
required withholding taxes may be satisfied as follows:

	 	(i)  	the Company may withhold from amounts payable
to the Optionee as compensation or otherwise an amount necessary to
satisfy all withholding tax requirements;
	 
	 	(ii)  	the Optionee may elect to deliver to the
Company unrestricted Shares having a fair market value determined as of
the date of such delivery equal to the amount required to be withheld;
	 
	 	(iii)  	the Company may permit any delivery of
unrestricted Shares to be made by withholding Shares otherwise issuable
pursuant to the grant giving rise to the tax withholding obligation; or
	 
	 	(iv)  	the Optionee may remit to the Company an amount
sufficient to satisfy payment.

     8. Service Rights of Optionee. This Agreement shall not constitute a contract of
continued Service, and the grant of the Option to the Optionee does not confer upon the Optionee
the right to be retained in the Service of the Company or any
[Extended Company] [Subsidiary].

     9. Shareholder Rights. The Optionee or other person or entity exercising the Option
shall have no rights as a shareholder of record of the Company with respect to Shares issuable upon
the exercise of the Option until such Shares have been issued. Except as otherwise expressly
provided in the Plan, no adjustment shall be made for dividends or other rights for which the
record date is prior to the earlier of the date such Shares are issued and the date the Optionee
becomes entitled to such Shares. All Shares purchased upon the exercise of the Option as provided
herein shall be fully paid and non-assessable.

     10. Availability of Shares. At all times during the term of the Option, the Company
shall (i) reserve and keep available a sufficient number of Shares to satisfy the requirements of
this Agreement, (ii) pay all original issue taxes, if any, with respect to the issuance of Shares
pursuant to the exercise hereof and all other fees and expenses necessarily incurred by the Company
in connection therewith, and (iii) from time to time, use its best efforts to comply with all laws
and regulations which, in the opinion of the Company’s Chief Legal Counsel, shall be applicable
thereto.

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     11. Notices. Each notice relating to this Agreement shall be given in writing and
shall be sufficiently given if sent by registered or certified mail, or by nationally recognized
overnight delivery service, postage or charges prepaid, to the address as hereinafter provided. Any
such written notice or communication given by mail shall be deemed to have been given two (2)
business days after the date so mailed, and such written notice or communication given by overnight
delivery service shall be deemed to have been given one (1) business day after the date so sent.
Each written notice to the Company shall be addressed to it at its offices at Two North Riverside
Plaza, Suite 2100, Chicago, Illinois 60606, Attention: Chief Legal Counsel (or, in the case of
notices pursuant to Paragraph 4(b) hereof, Attention: Fidelity Investments, P.O. Box 770001,
Cincinnati, Ohio 45277-0003) or such other address identified in a written notice from the Company
to the Optionee delivered in the manner prescribed in this Paragraph 11. Each written notice to
the Optionee or other person or entity then entitled to exercise the Share Option shall be
addressed to the Optionee or such other person or entity at the Optionee’s last known address on
the records of the Company.

     12. Incorporation of the Plan. Notwithstanding the terms, conditions and restrictions
set forth herein, this Agreement shall be subject to and governed by all of the terms and
conditions of the Plan. This Agreement hereby incorporates the Plan by reference, a copy of which
is available to the Optionee upon written request to the Chief Legal Counsel. Any term or
condition addressed in the Plan on which this Agreement is silent shall be governed and
administered in accordance with the terms of the Plan. In the event of any discrepancy between the
express terms and conditions of this Agreement and those of the Plan, the terms and conditions of
the Plan shall control.

     13. Interpretation. The interpretation and construction by the Committee of any terms
or conditions of the Plan, this Agreement or other matters related to the Plan shall be final and
conclusive.

     14. Enforceability. This Agreement shall be binding upon the Optionee and his estate,
assignee, transferee, personal representative and beneficiaries.

*       *       *

     IN WITNESS WHEREOF, each of the undersigned have executed this Agreement as of the day and
year first written above.

	 	 	 	 	 	 	 
	 	 	EQUITY OFFICE PROPERTIES TRUST	 	 
	 	 	 	 	 	 	 
	 	 	
By:	 	 

	 	 

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Its:	 	 
	 	 	 	 	 
	 	 	OPTIONEE:
	 	 	 	 	 
	 	 	______________________________

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