Document:

EX-10.30

EXHIBIT 10.30

MCJUNKIN RED MAN HOLDING CORPORATION

SUBSCRIPTION AGREEMENT

     SUBSCRIPTION AGREEMENT (this “Agreement”) dated as of September 10, 2008 by and among
McJunkin Red Man Holding Corporation, a Delaware corporation (the “Company”), Andrew Lane
(the “Subscriber”) and, for purposes of Section 7 only, PVF Holdings LLC (“PVF”).

RECITALS

     WHEREAS, on September 10, 2008, the Company and the Subscriber entered into an employment
agreement whereby, subject to the terms set forth therein, the Company agreed to employ the
Subscriber as Chief Executive Officer of the Company; and

     WHEREAS, in exchange for the Cash Consideration (as defined below), the Subscriber desires to
purchase from the Company, and the Company desires to issue to the Subscriber, the Purchased Shares
(as defined below).

     NOW THEREFORE, in consideration of the mutual promises herein made, and in consideration of
the representations, warranties, and covenants herein contained, the Company and the Subscriber
hereby agree as set forth below.

          Section 1. Agreement to Sell and Purchase Securities. Subject to the terms and
provisions set forth in this Agreement, (a) Subscriber agrees to purchase 340.4379 shares of common
stock, par value $0.01 per share, of the Company (the “Common Stock”), at a purchase price
of $8,812.18 per share, for an aggregate purchase price of $3,000,000 (the “Cash
Consideration”) and (b) in consideration for the Cash Consideration, the Company agrees to
issue, sell and deliver to the Subscriber 340.4379 shares of Common Stock (the “Purchased
Shares”).

          Section 2. Closing. The delivery of the Purchased Shares to the Subscriber shall take
place at a closing (the “Closing”) on September 12, 2008 or at such other date as the
Company and the Subscriber may agree in writing. The Subscriber shall deliver the Cash
Consideration to the Company by wire transfer of immediately available funds or by such other form
of payment acceptable to the Company so that at the Closing, the Company can deliver the Purchased
Shares against receipt of cleared funds. The time and date upon which the Closing occurs is herein
called the “Closing Date.”

          Section 3. Acceptance. This Agreement is subject to the acceptance of the Company.
The Company reserves the right to accept or reject the subscription of Purchased Shares or any
portion thereof. Upon such acceptance, this Agreement shall become a binding agreement between the
Company, the Subscriber, and for purposes of Section 7 only, PVF.

          Section 4. Representations and Warranties of the Subscriber. The Subscriber
represents, warrants and agrees that:

 

 

          (a) The Subscriber has all requisite power and authority to execute and deliver this Agreement
and any and all instruments necessary or appropriate in order to effectuate fully the terms and
conditions of this Agreement and to perform and consummate his obligations hereunder. This
Agreement has been duly and validly executed and delivered by the Subscriber and constitutes a
valid and legally binding obligation of the Subscriber, enforceable against the Subscriber in
accordance with its terms and conditions, except as enforceability thereof may be limited by any
applicable bankruptcy, reorganization, insolvency or other laws affecting creditors’ rights
generally or by general principles of equity.

          (b) The execution, delivery and performance of this Agreement by the Subscriber does not (i)
violate, conflict with, or constitute a breach of or default under any agreement to which the
Subscriber is a party or which he is bound or (y) violate any law, regulation, order, writ,
judgment, injunction or decree applicable to the Subscriber. No consent or approval of, or filing
with, any governmental or regulatory body is required to be obtained or made by the Subscriber in
connection with the execution and delivery of this Agreement.

          (c) The Subscriber is acquiring the Purchased Shares for his own account, for investment and
not with a view to the sale or distribution thereof, nor with any present intention of distributing
or selling the same. The Purchased Shares have not been registered under the U.S. Securities Act
of 1933, as amended (the “Securities Act”), and, consequently, the materials relating to
the offer have not been subject to review and comment by the staff of the Securities and Exchange
Commission or any other governmental authority. Furthermore, there is not now and there may never
be any public market for the Purchased Shares. Rule 144 promulgated under the Securities Act is
not presently available with respect to the sale of any Purchased Shares.

          (d) The Subscriber is an “accredited investor,” as such term is defined in Rule 501(a) of
Regulation D promulgated under the Securities Act and, in connection with the execution of this
Agreement, the Subscriber agrees to deliver such certificates to that effect as the board of
directors of the Company may request.

          (e) The Subscriber has had an opportunity to ask questions and receive answers concerning the
terms and conditions of the offering of the Purchased Shares and has had full access to such other
information concerning the Company as he has requested. The Subscriber’s knowledge and experience
in financial and business matters is such that he is capable of evaluating the merits and risk of
the investment in the Purchased Shares. The Subscriber has carefully reviewed the terms and
provisions of this Agreement and has evaluated the restrictions and obligations contained herein.
In furtherance of the foregoing, the Subscriber represents and warrants that (i) no representation
or warranty, express or implied, whether written or oral, as to the financial condition, results of
operations, prospects, properties or business of the Company or as to the desirability or value of
an investment in the Company has been made to the Subscriber by or on behalf of the Company, (ii)
the Subscriber has relied upon his own independent appraisal and investigation, and the advice of
his own counsel, tax advisors
and other advisors, regarding the risks of an investment in the Company and (iii) the

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Subscriber will continue to bear sole responsibility for making his own independent evaluation and
monitoring of the risks of his investment in the Company.

          (f) The Subscriber’s financial situation is such that the Subscriber can afford to bear the
economic risk of holding the Purchased Shares for an indefinite period and the Subscriber can
afford to suffer the complete loss of his investment in the Purchased Shares.

          (g) The Subscriber is not subscribing for the Purchased Shares as a result of or subsequent to
any advertisement, article, notice or other communication published in any newspapers, magazine or
similar media or broadcast over television or radio, or presented at any seminar or meeting, or any
solicitation of a subscription by a person or entity not previously known to the Subscriber in
connection with investments in securities generally.

          (h) The Subscriber understands and acknowledges that (i) he is being issued the Purchased
Shares as part of a written compensatory contract pursuant to Rule 701 of the Securities Act for
services to the Company and its affiliates, and (ii) he or she would not be issued the Purchased
Shares if he or she were not an employee of the Company or one of its affiliates.

          (i) The Subscriber hereby acknowledges that any investment gain attributable to ownership of
the Purchased Shares will not be taken into consideration for any compensation purpose.

          Section 5. Survival. All of the representations, warranties and agreements of the
Subscriber set forth herein shall survive the execution and delivery of this Agreement.

          Section 6. Subscriber’s Employment. Nothing in this Agreement shall confer upon the
Subscriber any right to continue in the employ of the Company or any of its affiliates or interfere
in any way with the right of the Company or any of its affiliates, as the case may be, in their
sole discretion, to terminate the Subscriber’s employment or to increase or decrease the
Subscriber’s compensation at any time.

          Section 7. Stockholders Agreement

          (a) The Subscriber hereby agrees to become a party to the Management Stockholders Agreement by
and among PVF Holdings LLC, the Company and the Executives parties thereto, dated as of March 27,
2007, as amended, attached hereto as Exhibit A (the “Stockholders Agreement”).
Except as otherwise expressly set forth in this Section 7, the Subscriber hereby agrees to be bound
by, and subject to, all of the representations, warranties, covenants, terms and conditions set
forth in the Stockholders Agreement that are applicable to an Executive (as defined in the
Stockholders Agreement). Execution and delivery of this Agreement by the Subscriber
shall also constitute execution and delivery by him of the Stockholders Agreement, without
further action of any party.

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          (b) The Company, PVF and the Subscriber hereby agree that effective upon the consummation of a
Qualified IPO (as defined in the Stockholders Agreement) of the Company, the Subscriber shall no
longer be a party to the Stockholders Agreement and the Stockholders Agreement shall automatically
terminate, without further action of any party, with respect to the Subscriber and the Purchased
Shares; provided that no such termination shall relieve any party thereto (including the
Subscriber) of any liability or damages to any other party thereto resulting from a breach of the
Stockholders Agreement prior to such termination.

          Section 8. Governing Law; Waiver of Jury Trial. This Agreement shall be governed by
and construed and enforced in accordance with the laws of the State of Delaware, without reference
to the conflict of laws principles thereof. The parties hereby irrevocably submit to the personal
jurisdiction of the courts of the State of Delaware located in the County of New Castle and the
Federal courts of the United States of America located in the County of New Castle solely in
respect of the interpretation and enforcement of the provisions of this Agreement and of the
documents referred to in this Agreement, and in respect of the transactions contemplated hereby,
and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the
interpretation or enforcement hereof or of any such document, that it is not subject thereto or
that such action, suit or proceeding may not be brought or is not maintainable in said courts or
that the venue thereof may not be appropriate or that this Agreement or any such document may not
be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with
respect to such action or proceeding shall be heard and determined in such a Delaware State or
Federal court located in the County of New Castle. The parties hereby consent to and grant any
such court jurisdiction over the person of such parties and, to the extent permitted by law, over
the subject matter of such dispute and agree that mailing of process or other papers in connection
with any such action or proceeding in the manner provided in this Agreement or in such other manner
as may be permitted by law shall be valid and sufficient service thereof. Each of the parties
irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any and
all rights to trial by jury in connection with any litigation arising out of or relating to this
Agreement or the transactions contemplated hereby.

          Section 9. Assignment; Binding Effect; Third Party Beneficiaries. Neither this
Agreement nor any of the rights, interests or obligations hereunder shall be assigned by the
Subscriber (whether by operation of law or otherwise) without the prior written consent of the
Company. Subject to the preceding sentence, this Agreement shall be binding upon and shall inure
to the benefit of the parties hereto and their respective successors and assigns. Each of the
Company’s affiliates is a third party beneficiary under this Agreement. Notwithstanding anything
contained in this Agreement to the contrary, nothing in this Agreement (other than as set forth in
the immediately preceding sentence), express or implied, is intended to confer on any person other
than the parties
hereto or their respective heirs, successors, executors, administrators and assigns any
rights, remedies, obligations or liabilities under or by reason of this Agreement.

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          Section 10. Entire Agreement. This Agreement and the Stockholders Agreement
constitute the entire agreement among the parties with respect to the subject matter hereof and
supersede all prior agreements and understandings (oral and written) among the parties with respect
thereto.

          Section 11. Severability. Any term or provision of this Agreement which is invalid or
unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of
such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this Agreement or otherwise affecting the validity or enforceability of any of
the terms or provisions of this Agreement in any other jurisdiction. If any provision of this
Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so
broad as is enforceable.

          Section 12. Revocability. This Agreement may not be withdrawn or revoked by the
Subscriber in whole or in part without the prior written consent of the Company.

          Section 13. Notices. All notices, requests, demands, claims and other communications
provided for under the terms of this Agreement shall be in writing. Any notice, request, demand,
claim or other communication hereunder shall be sent by (i) personal delivery (including receipted
courier service) or overnight delivery service, (ii) facsimile during normal business hours, with
confirmation of receipt, to the number indicated, (iii) reputable commercial overnight delivery
service courier or (iv) registered or certified mail, return receipt requested, postage prepaid and
addressed to the intended recipient as set forth below:

	 	 	 	 	 	 	 
	 

	 	If to the Company:
	 	McJunkin Red Man Holding Corporation

835 Hillcrest Drive

Charleston, WV 25311

Attention: General Counsel

Facsimile: 304-348-1557
	 
	 	 	 	 
	 

	 	with a copy to:
	 	GS Capital Partners

85 Broad Street

New York, NY 10004

Attention: Jack Daly

Facsimile: 212-357-5505
	 
	 	 	 	 
	 

	 	 	 	and
	 
	 	 	 	 
	 

	 	 	 	Fried, Frank, Harris, Shriver & Jacobson LLP
	 

	 	 	 	One New York Plaza
	 

	 	 	 	New York, NY 10004
	 

	 	 	 	Attention: Robert C. Schwenkel, Esq.
	 

	 	 	 	Facsimile: 212-859-4000

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	 	If to the Subscriber:
	 	 Andrew Lane, at his principal office at
the Company (during the term of his employment with the Company), and at all
times to his principal residence as reflected in the records of the Company.

          All such notices, requests, consents and other communications shall be deemed to have been
given when received. Either party may change its facsimile number or its address to which notices,
requests, demands, claims and other communications hereunder are to be delivered by giving the
other parties hereto notice in the manner then set forth.

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          IN WITNESS WHEREOF, this Agreement has been duly executed as of the date first above written.

	 	 	 	 	 
	 	SUBSCRIBER

 	 
	 	/s/
Andrew Lane	 
	 	
Andrew Lane

 	 
	 
	 	MCJUNKIN RED MAN HOLDING CORPORATION

 	 
	 	By:  	/s/
Stephen W. Lake	 
	 	 	Name:  	Stephen W. Lake	 
	 	 	Title:  	Sr. Vice President, General Counsel &
Corporate Secretary	 
	 
	 
	 	For purposes of Section 7 only:

PVF HOLDINGS LLC

 	 
	 	By:  	/s/
Stephen W. Lake	 
	 	 	Name:  	Stephen W. Lake	 
	 	 	Title:  	Sr. Vice President, General Counsel &
Corporate Secretary	 
	 

[Signature Page to Subscription Agreement]EX-10.31

EXHIBIT
10.31

MCJUNKIN RED MAN HOLDING CORPORATION

NONQUALIFIED STOCK OPTION AGREEMENT

     THIS AGREEMENT (this “Agreement”), is made effective as of September 10, 2008 (the
“Date of Grant”), between McJunkin Red Man Holding Corporation, a Delaware corporation (the
“Company”), PVF Holdings LLC, a Delaware limited liability company (“PVF Holdings
LLC”) (solely for purposes of Section 15 hereof), and Andrew Lane (the “Participant”).

RECITALS:

     WHEREAS, the Company has adopted the McJ Holding Corporation 2007 Stock Option Plan (the
“Plan”), which Plan is incorporated herein by reference and made a part of this Agreement.
Capitalized terms not otherwise defined herein shall have the meanings given thereto in the Plan;
and

     WHEREAS, the Committee has determined that it would be in the best interests of the Company
and its shareholders to grant an Option to the Participant pursuant to the Plan and the terms set
forth herein.

     NOW THEREFORE, in consideration of the services to be provided by the Participant to the
Company pursuant to the Employment Agreement entered into by the Company and the Executive on
September 10, 2008 (the “Employment Agreement”), and of the mutual covenants hereinafter
set forth, the parties agree as follows:

     1. Grant of the Option. The Company hereby grants to the Participant the right and
option (the “Option”) to purchase, on the terms and conditions hereinafter set forth, all
or any part of an aggregate of 3,517.8582 Shares, subject to adjustment as set forth in the Plan.
The Option Price shall be $8,812.18, which the Company and the Participant agree is not less than
the Fair Market Value of the Shares as of the date hereof.

     2. Vesting; Period of Exercise.

          (a) Subject to the earlier termination or cancellation of the Option as set forth herein, the
Option shall vest and become exercisable as follows:

               (i) Prior to the second (2nd) anniversary of the Date of Grant, no portion of the
Option shall vest or be exercisable;

               (ii) On and after the second (2nd) anniversary of the Date of Grant, the Option
shall vest and be exercisable with respect to an aggregate of one-fourth (1/4) of the Shares
originally subject to the Option, provided that the Participant’s Employment with the Company has
not terminated as of such anniversary;

               (iii) On and after the third (3rd) anniversary of the Date of Grant, the Option
shall vest and be exercisable with respect to an aggregate of one-half (1/2) of the Shares

 

 

originally subject to the Option, provided that the Participant’s Employment with the Company
has not terminated as of such anniversary;

               (iv) On and after the fourth (4th) anniversary of the Date of Grant, the Option
shall vest and be exercisable with respect to an aggregate of three-fourths (3/4) of the Shares
originally subject to the Option, provided that the Participant’s Employment with the Company has
not terminated as of such anniversary; and

               (v) On and after the fifth (5th) anniversary of the Date of Grant, the Option shall
vest and be exercisable with respect to an aggregate of one hundred percent (100%) of the Shares
originally subject to the Option, provided that the Participant’s Employment with the Company has
not terminated as of such anniversary.

               (vi) Notwithstanding the foregoing, in the event that the Participant’s Employment is
terminated (A) by the Company other than for Cause or Disability (as each is defined in the
Employment Agreement), (B) by the Executive for Good Reason (as defined in the Employment
Agreement) or (C) by reason of the Executive’s death or Disability, the Option shall, to the extent
not then vested, become vested as follows: if termination occurs during the first two (2) years of
employment, a pro-rata portion of 1/4 of the Shares subject to the Option will vest, such pro-rata
portion to be determined based on the number of months worked since the date of grant divided by
twenty four (24), and if termination occurs during the third (3rd), fourth (4th) or fifth (5th)
years of employment, a pro-rata portion of 1/4 of the Shares subject to the Option will vest, such
pro-rata portion to be determined based on the number of months worked since the previous vesting
date divided by twelve (12).

               (vii) Notwithstanding the foregoing, in the event of the occurrence of a Change in Control (as
defined in the Employment Agreement), the Option shall, to the extent not then vested,
automatically become fully vested and exercisable.

The portion of the Option which has become vested and exercisable as described herein is
hereinafter referred to as the “Vested Portion.”

          (b) If the Participant’s Employment is terminated by the Company for Cause, the Option shall,
whether or not vested, be automatically canceled without payment of consideration therefor.

          (c) If the Participant’s Employment with the Company terminates for any reason other than (A)
by the Company for Cause or Disability, or (B) by reason of the Participant’s death or Disability,
the Option shall, to the extent not previously vested, be automatically canceled by the Company
without payment of consideration therefor, and the Vested Portion of the Option shall remain
exercisable until the earliest to occur of (A) the ten (10) year anniversary of the Date of Grant
and (B) ninety (90) days following the date of the Participant’s termination of Employment.

          (d) If the Participant’s Employment with the Company is terminated due to the Participant’s
death or Disability, the Participant may exercise all or any part of the Vested Portion of the
Option at any time prior to the earliest to occur of (A) the ten (10) year

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anniversary of the Date of Grant and (B) twenty-four (24) months following such termination of
Employment.

     3. Method of Exercise.

          (a) The Vested Portion of the Option may be exercised by delivering to the Company at its
principal office written notice of intent so to exercise. Such notice shall specify the number of
Shares for which the Option is being exercised (the “Purchased Shares”) and shall be
accompanied by payment in full of the Option Price in cash or by check or wire transfer;
provided, however, that with the written consent of the Committee (which consent
may be withheld for any or no reason), payment of such aggregate exercise price may instead be
made, in whole or in part, by (A) the delivery to the Company of a certificate or certificates
representing Shares having a Fair Market Value on the date of exercise equal to the aggregate
exercise price, duly endorsed or accompanied by a duly executed stock power, which delivery
effectively transfers to the Company good and valid title to such shares, free and clear of any
pledge, commitment, lien, claim or other encumbrance (such shares to be valued on the basis of the
aggregate Fair Market Value thereof on the date of such exercise), or (B) by a reduction in the
number of Purchased Shares to be issued upon such exercise having a Fair Market Value on the date
of exercise equal to the aggregate exercise price in respect of the Purchased Shares, provided that
the Company is not then prohibited from purchasing or acquiring such Shares. The Participant shall
not have any rights to dividends or other rights of a stockholder with respect to Shares subject to
the Option until the Participant has given written notice of exercise of the Option, paid in full
for such Shares and, if applicable, has satisfied any other conditions imposed by the Committee or
pursuant to the Plan or this Agreement.

          (b) Notwithstanding any other provision of the Plan or this Agreement to the contrary, the
Option may not be exercised prior to the completion of any registration or qualification of the
Option or the Shares under applicable state and federal securities or other laws, or under any
ruling or regulation of any governmental body or national securities exchange (collectively, the
“Legal Requirements”) that the Committee shall in its sole discretion determine to be
necessary or advisable, unless an exemption to such registration or qualification is available and
satisfied. The Committee may establish additional procedures as it deems necessary or desirable in
connection with the exercise of the Option or the issuance of any Shares upon such exercise to
comply with any Legal Requirements. Such procedures may include but are not limited to the
establishment of limited periods during which the Option may be exercised or that following receipt
of the notice of exercise and prior to the completion of the exercise, the Participant will be
required to affirm the exercise of the Option following receipt of any disclosure deemed necessary
or desirable by the Committee.

          (c) Upon the Company’s determination that the Option has been validly exercised as to any of
the Shares, the Company shall issue certificates in the Participant’s name for such Shares. Such
certificates will be held by the Company on behalf of the Participant until such time as the Shares
represented by such certificates are transferred as permitted by the Stockholders Agreement.

          (d) In the event of the Participant’s death or Disability, the Option shall remain exercisable
by the Participant’s executor or administrator, or the person or persons to

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whom the Participant’s rights under this Agreement shall pass by will or by the laws of
descent and distribution as the case may be, for the period set forth in Section 2(d) (and the term
“Participant” shall be deemed to include such heir or legatee). Any such heir or legatee
of the Participant shall take rights herein granted subject to the terms and conditions hereof.

          (e) In consideration of the grant of this Option, the Participant agrees that, as a condition
to the exercise of any option to purchase Shares (whether this Option or any other option), the
Participant shall, with respect to such Shares, have become a party to the Stockholders Agreement.

     4. No Right to Continued Employment. The granting of the Option evidenced hereby and
this Agreement shall impose no obligation on the Company or any Affiliate to continue the
Employment of the Participant and shall not lessen or affect the Company’s or its Affiliates’ right
to terminate the Employment of such Participant.

     5. Legend on Certificates. The certificates representing the Shares purchased by
exercise of the Option shall be subject to such stop transfer orders and other restrictions as the
Committee may deem advisable under the Plan or the rules, regulations, and other requirements of
the Securities and Exchange Commission, any stock exchange upon which such Shares are listed, and
any applicable federal or state laws, and the Committee may cause a legend or legends to be put on
any such certificates to make appropriate reference to such restrictions.

     6. Transferability. Unless otherwise determined by the Committee, the Option may not
be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the
Participant otherwise than by will or by the laws of descent and distribution, and any such
purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void
and unenforceable against the Company or any Affiliate; provided, that the designation of a
beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or
encumbrance. No such permitted transfer of the Option to heirs or legatees of the Participant
shall be effective to bind the Company unless the Committee shall have been furnished with written
notice thereof and a copy of such evidence as the Committee may deem necessary to establish the
validity of the transfer and the acceptance by the transferee or transferees of the terms and
conditions hereof. During the Participant’s lifetime, the Option is exercisable only by the
Participant.

     7. Withholding. The Participant shall be required to pay to the Company or any
Affiliate, and the Company shall have the right and is hereby authorized to withhold, any
applicable withholding taxes in respect of the Option, its exercise or any payment or transfer
under, or with respect to, the Option and to take such other action as may be necessary in the
opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. The
Participant shall be solely responsible for the payment of all taxes relating to the payment or
provision of any amounts or benefits hereunder.

     8. Securities Laws. Upon the acquisition of any Shares pursuant to the exercise of
the Option, the Participant will make or enter into such written representations, warranties and
agreements as the Committee may reasonably request in order to comply with applicable securities
laws or with this Agreement.

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     9. Successors in Interest. This Agreement shall inure to the benefit of and be
binding upon any successor to the Company. This Agreement shall inure to the benefit of the
Participant’s legal representatives. All obligations imposed upon the Participant and all rights
granted to the Company under this Agreement shall be binding upon the Participant’s heirs,
executors, administrators and successors.

     10. Resolution of Disputes. Any dispute or disagreement which may arise under, or as
a result of, or in any way relate to, the interpretation, construction or application of this
Agreement shall be determined by the Board. Any determination made hereunder shall be final,
binding and conclusive on the Participant, the Participant’s heirs, executors, administrators and
successors, and the Company and its subsidiaries for all purposes.

     11. Notices. Any notice necessary under this Agreement shall be addressed to the
Company in care of its Secretary at the principal executive office of the Company and to the
Participant at the address appearing in the personnel records of the Company for the Participant or
to either party hereto at such other address as either party may hereafter designate in writing to
the other. Any such notice shall be deemed effective upon receipt thereof by the addressee.

     12. Choice of Law. This Agreement shall be governed by and construed in accordance
with the laws of the state of New York, without regard to principles of conflicts of laws.

     13. Option Subject to Plan. By entering into this Agreement, the Participant agrees
and acknowledges that the Participant has received and read a copy of the Plan. The Option is
subject to the Plan. The terms and provisions of the Plan, as it may be amended from time to time,
are hereby incorporated herein by reference. In the event of a conflict between any term or
provision contained herein and a term or provision of the Plan, the applicable terms and provisions
of the Plan, as applicable, will govern and prevail.

     14. Accredited Investor Status Representation of Participant. Please check the box
next to any of the following statements that apply:

	 	o	 	Your individual net worth, or joint net worth with your spouse, as of the date hereof,
exceeds $1,000,000;
	 
	 	o	 	You had individual income in excess of $200,000 in each of the two most recent years, or
joint income with your spouse in excess of $300,000 in each of those years, and have a
reasonable expectation of reaching the same income level in the current year; or
	 
	 	o	 	None of the statements above apply.

     15. Adoption of Stockholders Agreement.

          (a) The parties hereto agree that, upon the grant of the Option hereunder, the Participant
shall be made a party to the Management Stockholders Agreement among PVF LLC (formerly known as McJ
Holding LLC), the Company, and the other parties thereto (the “Stockholders Agreement”) as
an “Executive” (as defined in the Stockholders Agreement) with the rights and obligations of
holders of “Stock” (as defined in the Stockholders Agreement) and

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the Participant hereby agrees to become a party to the Stockholders Agreement and to be bound
by, and subject to, all of the representations, covenants, terms and conditions of the Stockholders
Agreement that are applicable to an Executive with such rights and obligations. Execution and
delivery of this Agreement by the Participant shall also constitute execution and delivery by the
Participant of the Stockholders Agreement, without further action of any party. A copy of the
Stockholders Agreement is attached hereto as Exhibit A. In addition to the representations
and warranties in the Stockholders Agreement that Participant makes as an Executive, the
Participant represents and warrants to the Company that (A) the Participant has carefully reviewed
the Stockholders Agreement and has also reviewed all other documents the Participant deems
necessary or desirable in order for the Participant to become a party to the Stockholders Agreement
(by executing this Agreement), (B) the Participant has been granted the opportunity to ask
questions of, and receive answers from, representatives of the Company concerning the Stockholders
Agreement and the terms and conditions thereof that the Participant deems necessary and (C) this
Agreement (and by executing this Agreement, the Stockholders Agreement) has been duly executed and
delivered by Participant and constitutes a valid and binding agreement of Participant enforceable
against the Participant in accordance with its terms and the terms of the Stockholders Agreement.

          (b) The Company, PVF Holdings LLC and the Participant hereby agree that effective upon the
consummation of a Qualified IPO (as defined in the Stockholders Agreement) of the Company, the
Participant shall no longer be a party to the Stockholders Agreement and the Stockholders Agreement
shall automatically terminate, without further action of any party, with respect to the Option
granted to the Participant hereunder and any shares received by the Participant upon the exercise
of the Option; provided that no such termination shall relieve any party thereto (including the
Participant) of any liability or damages to any other party thereto resulting from a breach of the
Stockholders Agreement prior to such termination.

     16. Signature in Counterparts. This Agreement may be signed in counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon
the same instrument.

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as of the Date
of Grant.

	 	 	 	 	 
	 	MCJUNKIN RED MAN HOLDING CORPORATION

 	 
	 	By:  	/s/ Stephen W. Lake	 
	 	 	Name:  	Stephen W. Lake	 
	 	 	Title:  	Senior Vice President, General Counsel and
Corporate Secretary	 
	 
	 	PVF HOLDINGS LLC (for purposes of Section 15 only)

 	 
	 	By:  	/s/ Stephen W. Lake	 
	 	 	Name:  	Stephen W. Lake	 
	 	 	Title:  	Senior Vice President, General Counsel and
Corporate Secretary	 
	 
	 	PARTICIPANT

 	 
	 	By:  	/s/ Andrew
Lane	 
	 	 	Name:  	Andrew Lane 	 
	 	 	 	 

 

 

	 	 	 	 	 

EXHIBIT A

Stockholders Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]