Document:

exv4w1

Exhibit 4.1

Stock Award

RETENTION BONUS AWARD AGREEMENT

     This Retention Bonus Award Agreement (this “Agreement”) is made and entered into this
___ day of                      2009 by and among Resolute Energy Corporation (the “Company”),
Resolute Holdings Sub, LLC (“Holdings Sub”), Resolute Holdings, LLC (“Holdings”)
and                      (“Employee”). The Company, Holdings Sub, Holdings and Employee are
referred to collectively as the “Parties” and individually as a “Party.”

RECITALS

     WHEREAS, the Company, Holdings Sub and Holdings have entered into a Purchase and IPO
Reorganization Agreement with Hicks Acquisition Company I, Inc., Resolute Subsidiary Corporation,
Resolute Aneth, LLC, and HH-HACI, L.P., pursuant to which the Company will succeed to the ownership
of certain oil and natural gas assets previously owned by indirect subsidiaries of Holdings and
become parent of Hicks Acquisition Company I, Inc. (the “Transactions”); and

     WHEREAS, in consideration of the contribution of oil and natural gas assets to the Company,
Holdings Sub is entitled to receive 9,200,000 shares of common stock, $0.0001 per share, of the
Company (the “Common Stock”), 200,000 of which (the “Retention Bonus Shares”) were,
at the direction of Holdings Sub, permitted to be re-allocated for issuance by the Company to
selected persons who have been employees of a subsidiary of Holdings Sub (“Resolute
Employees”); and

     WHEREAS, Holdings Sub has directed the Company to issue the Retention Bonus Shares to Resolute
Employees; and

     WHEREAS, the Company has selected Employee for receipt of the number of shares of Common Stock
set forth in Section 1(a) (the “Bonus Shares”), reflecting its desire (i) with respect to
the Initial Issuance Shares (as defined below), to reward Employee for his/her contribution of
value resulting in the successful completion of the Transactions and (ii) with respect to the
Deferred Issuance Shares (as defined below), to create an incentive for Employee to remain employed
by the Company until the first anniversary of the closing date of the Transactions (the
“Deferred Payment Date”); and

     WHEREAS, the Initial Issuance Shares (as defined below) have been awarded to Employee, and are
being held in an escrow account in which Holdings, acting as escrow agent, is holding the Initial
Issuance Shares on behalf of Employee as beneficial owner, subject to certain conditions, including
the execution by Employee of this Agreement; and

     WHEREAS, Employee was employed by the Company on the closing date of the Transactions and is
employed by the Company as of the date of this Agreement and desires to accept the Award on the
terms and conditions set forth herein.

     NOW THEREFORE, in consideration of the foregoing and the mutual covenants and promises
contained herein, the sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

 

AGREEMENT

     1. Retention Bonus.

          (a) Award. The Company awards to Employee, and Employee accepts from the Company, on
the terms and conditions set forth herein, a retention bonus award (“Retention Bonus
Award”) payable as follows:

               (i) Stock Award.

                    (1)                      Retention Bonus Shares (the “Initial Issuance Shares”) have been awarded
to Employee (the issuance on such date being referred to as the “Initial Issuance”) and
Employee is the beneficial owner of such shares.

                    (2)                      Retention Bonus Shares shall be issued by Company and disbursed to Employee by
Holdings in its capacity as escrow agent on the Deferred Payment Date (the issuance on such date
being referred to herein as the “Deferred Issuance” and the Retention Bonus Shares to be
issued on the Deferred Payment Date being referred to herein as the “Deferred Issuance
Shares”) and Employee shall be the owner of such share on the Deferred Payment Date, provided,
however, that such issuance shall be made no later than the first March 15th following
the end of the year in which the Deferred Payment Date falls, or, in the event that the issuance is
made pursuant to Section 4 or Section 5, such issuance shall be made no later than the first March
15th following the end of the year in which Employee terminates his or her employment
with the Company or the year in which a Change in Control occurs.

                    (3) The Company has deposited the Initial Issuance Shares and the Deferred Issuance Shares
into an escrow account maintained by Holdings as escrow agent, as set forth in the escrow agreement
attached as Annex A to this Agreement.

                    (4) Notwithstanding anything herein to the contrary, the Company shall not issue to Employee
any such shares of Common Stock issuable hereunder which, when aggregated with all other shares of
Common Stock issued to Resolute Employees as Retention Bonus Awards, exceed 200,000 shares of
Common Stock.

               (ii) Condition to Receipt of Deferred Issuance Shares. The Company will not be
required to issue the Deferred Issuance Shares to Employee unless the Employee remains continuously
employed by the Company through the Deferred Payment Date, except under the circumstances set forth
in Section 4 or Section 5 below. Except as so provided, in the event that the Employee’s
employment with the Company is terminated for any reason by the Company or is terminated by him or
her voluntarily, then, in either such event, the Employee’s rights under this Agreement and any
right to receive the Deferred Issuance Shares shall lapse and terminate immediately upon the
effective date of termination. The Parties acknowledge that Employee has no rights in the Deferred
Issuance Shares prior to the Deferred Payment Date, and that the Deferred Issuance Shares are not
eligible for an election to be taxed at the time of grant under Section 83(b) of Internal Revenue
Code of 1986, as amended (the “Code”). Accordingly, if Employee does make such an election
under Section 83(b) of the Code, then any right of

-2-

 

Employee under this Agreement to receive the Deferred Issuance Shares will lapse and terminate
immediately upon the date of such election.

               (iii) Issuance and Disbursement.

                    (1) The Initial Issuance Shares are included in a stock certificate (the “Initial Issuance
Certificate”) in the name of Holdings, which shall hold such shares on behalf of Employee.
After execution of this Agreement in accordance with Section 1(a)(i)(1) and satisfaction of any
other conditions to issuance, including compliance with applicable securities laws, Holdings shall
request that the Company issue a new certificate representing the Initial Issuance Shares in the
name of Employee, make a corresponding reduction in the number of Retention Bonus Shares
represented by the Initial Issuance Certificate, and disburse the Initial Issuance Shares to
Employee (the “Initial Certification”). Disbursement must occur no later than March 15,
2010. Concurrent with the Initial Certification, Holdings shall disburse to Employee any
distributions paid in respect of the Initial Issuance Shares prior to the Initial Certification.
Employee shall be treated as the owner of the Initial Issuance Shares for federal income tax
purposes while such shares are held in escrow and until the Initial Certification.

                    (2) During the one -year period prior to vesting, the Deferred Issuance Shares shall, in
combination with all other Retention Bonus Shares subject to Deferred Issuance, be represented by a
stock certificate (the “Deferred Issuance Certificate”) in the name of Holdings, which
shall hold such shares on behalf of Employee and other Resolute Employees. Upon satisfaction of
the vesting condition, Holdings shall request that the Company issue a new certificate representing
the Deferred Issuance Shares in the name of Employee and make a corresponding reduction in the
number of Retention Bonus Shares represented by the Deferred Issuance Certificate and disburse the
Deferred Issuance Shares to Employee. Prior to the Deferred Payment Date, Holdings shall have the
right to vote the Deferred Issuance Shares in such manner as Holdings shall determine and to
receive any distributions paid on the Deferred Issuance Shares. Holding shall be treated as the
owner of the Deferred Issuance Shares for federal income tax purposes while such shares are held in
escrow and until the Deferred Payment Date.

               (iv) Disposition of Deferred Issuance Shares in the Event of Forfeiture. In the event
that Employee is not employed by the Company at the Deferred Payment Date (other than by reason of
the events set forth in Section 4 or under the circumstances contemplated by Section 5), the
Company shall reissue the Deferred Issuance Shares so forfeited by Employee in the name of
Holdings, and Holdings shall be the owner of such shares for all purposes. If requested by the
Company, Employee shall execute and deliver to the Company blank stock powers for use in connection
with the transfer to Holdings of Deferred Issuance Shares that do not become vested.

     2. Withholding and Taxes.

          (a) Employee is required to pay to the Company, and the Company has the right and is hereby
authorized to withhold, from any shares of Common Stock deliverable under any Retention Bonus Award
or from any compensation or other amounts owing to Employee, the

-3-

 

amount (in cash, Common Stock, other securities or other property) of any required withholding
taxes in respect of the Retention Bonus Award, or any payment or transfer under a Retention Bonus
Award and to take such other action as may be necessary in the opinion of the Company to satisfy
all obligations for the payment of such withholding and taxes.

          (b) Without limiting the generality of clause (a) above, the Company may, in its sole
discretion, satisfy, in whole or in part, the foregoing withholding liability by withholding from
the number of shares of Common Stock otherwise issuable or deliverable pursuant to the settlement
of the Retention Bonus Award a number of shares with a Fair Market Value (as defined below) equal
to such withholding liability (but no more than the minimum required statutory withholding
liability). The Company may require Employee, through payroll withholding, cash payment, or
otherwise, to make adequate provisions for any such tax withholding obligation of the Company
arising in connection with such Retention Bonus Award.

          (c) Employee agrees to be responsible for the payment of any taxes due on any and all
compensation provided by the Company pursuant to the Retention Bonus Award. Employee agrees to
indemnify the Company and hold the Company harmless from any and all claims or penalties asserted
against the Company for any failure to pay taxes due on any compensation provided by the Company
pursuant to the Retention Bonus Award.

          (d) For purposes of this Agreement, “Fair Market Value” per share means the last sale
price for a share of Common Stock as furnished by the New York Stock Exchange (“NYSE”) or
other principal stock exchange on which the Common Stock is then listed for the date in question
or, if no sales of Common Stock were reported by the NYSE or other such exchange on that date, the
last price for a share of Common Stock as furnished by the NYSE or other such exchange for the next
preceding day on which sales of Common Stock were reported by the NYSE. If the Common Stock is no
longer listed or is no longer actively traded on the NYSE or listed on a principal stock exchange
as of the applicable date, the Fair Market Value of the Common Stock shall be the value as
reasonably determined by the Company for purposes of the award in the circumstances.

          (e) It is the intention of the Parties that issuances of Common Stock under this Agreement
qualify for the exception from Section 409A of the Code for “short-term deferrals” and this
Agreement shall be interpreted consistently with such intent.

     3. At-Will Employment. Nothing in this Agreement alters Employee’s status as an
at-will employee with the Company. Both the Company and Employee reserve the right to terminate
Employee’s employment at any time, for any reason or no reason, with or without warning or notice.

     4. Termination of Employment by Reason of Death or Disability.

          (a) In the event that Employee’s employment with the Company is terminated by reason of
Employee’s death or Disability, the Company shall provide that the Deferred Issuance be made as of
or promptly following the date of termination, and any such issuance shall be made within the time
period prescribed by Section 1(a), above.

-4-

 

          (b) For purposes of this Section 4, “Disability” means that Employee, in the
determination of the Company, is unable to engage in any substantial gainful activity by reason of
any medically determinable physical or mental impairment that can be expected to result in death or
can be expected to last for a continuous period of not less than 12 months.

     5. Possible Acceleration of Award Upon Change in Control.

          (a) The Company may, in its discretion, provide that the Deferred Issuance be made upon the
occurrence of a Change in Control, and any such issuance shall be made within the time period
prescribed by Section 1(a) above.

          (b) For purposes of this Section 5, a “Change in Control” will be deemed to occur
upon:

               (i) The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more
than 50% of either (1) the then-outstanding shares of Common Stock of the Company (the
“Outstanding Company Common Stock”) or (2) the combined voting power of the
then-outstanding voting securities of the Company entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however, that, for
purposes of this definition, the following acquisitions shall not constitute a Change in Control:
(A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company
or any affiliate of the Company or a successor, or (D) any acquisition by any entity pursuant to a
transaction that complies with Sections (iii)(1), (2) and (3) below;

               (ii) Individuals who, as of the date of this Agreement and after giving effect to the
completion of the Transactions, constitute the Company’s board of directors (the “Incumbent
Board”) cease for any reason to constitute a majority of the directors of the Company;
provided, however, that any individual becoming a director subsequent to the date of this Agreement
whose election, or nomination for election by the Company’s stockholders, was approved by a vote of
at least two-thirds of the directors then comprising the Incumbent Board (including for these
purposes, the new members whose election or nomination was so approved, without counting the member
and his predecessor twice) shall be considered as though such individual were a member of the
Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of
office occurs as a result of an actual or threatened election contest with respect to the election
or removal of directors or other actual or threatened solicitation of proxies or consents by or on
behalf of a person other than the Company’s board of directors;

               (iii) Consummation of a reorganization, merger, statutory share exchange or consolidation or
similar corporate transaction involving the Company or any of its subsidiaries, a sale or other
disposition of all or substantially all of the assets of the Company, or the acquisition of assets
or stock of another entity by the Company or any of its subsidiaries (each, a “Business
Combination”), in each case unless, following such Business Combination, (1) all or
substantially all of the individuals and entities that were the beneficial owners of the

-5-

 

Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately
prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the
then-outstanding shares of common stock and the combined voting power of the then-outstanding
voting securities entitled to vote generally in the election of directors, as the case may be, of
the entity resulting from such Business Combination (including, without limitation, an entity that,
as a result of such transaction, owns the Company or all or substantially all of the Company’s
assets directly or through one or more subsidiaries (a “Parent”)) in substantially the same
proportions as their ownership immediately prior to such Business Combination of the Outstanding
Company Common Stock and the Outstanding Company Voting Securities, as the case may be; (2) no
person (excluding any entity resulting from such Business Combination or a Parent or any employee
benefit plan (or related trust) of the Company or such entity resulting from such Business
Combination) beneficially owns, directly or indirectly, more than 50% of, respectively, the
then-outstanding shares of common stock of the entity resulting from such Business Combination or
the combined voting power of the then-outstanding voting securities of such entity, except to the
extent that the ownership in excess of 50% existed prior to the Business Combination; and (3) a
majority of the members of the Company’s board of directors or trustees of the entity resulting
from such Business Combination or a Parent were members of the Incumbent Board at the time of the
execution of the initial agreement or of the action of the Board providing for such Business
Combination; or

               (iv) Approval by the stockholders of the Company of a complete liquidation or dissolution of
the Company other than in the context of a transaction that does not constitute a Change in Control
under clause (iii) above.

     Notwithstanding the foregoing, (1) the board may waive the requirement described in paragraph
(i) above that a person must acquire more than 50% of the Outstanding Company Stock or Outstanding
Company Voting Securities for a Change in Control to have occurred if the board determines that the
percentage acquired by a person is significant (as determined by the board in its discretion) and
that waiving such condition is appropriate in light of all facts and circumstances, and (2) no
compensation that has been deferred for purposes of Section 409A of the Code shall be payable as a
result of a Change in Control unless the Change in Control qualifies as a change in ownership or
effective control of the Company within the meaning of Section 409A of the Code.

     6. Company Decisions. All decisions and interpretations of this Agreement by the
Company, including by its board of directors or any committee charged with the interpretation and
administration hereof, shall be final, binding and conclusive. In particular, the Company is
entitled to establish what constitutes a termination of employment and will be the sole judge for
purposes of this Agreement of whether Employee continues to render services to the Company and the
date, if any, upon which such employment will be deemed to have terminated. Unless otherwise
provided by an express policy of the Company, the employment relationship will not be considered
terminated in the case of (a) sick leave, (b) military leave, or (c) any other leave of absence
authorized by the Company; provided that unless reemployment upon the expiration of such leave is
guaranteed by contract or law, such leave is for a period of not more than three months. In the
case of any Employee on an approved leave of absence, continued vesting of the Retention Bonus
Award while on leave from the employ of the Company may be

-6-

 

suspended until the Employee returns to service, unless the Company otherwise provides or applicable law
otherwise requires.

     7. Nontransferability of Rights. Employee does not have the power or right to
transfer, assign, anticipate, mortgage, or otherwise encumber his or her rights under this
Agreement. Rights under this Agreement shall not be subject to seizure for the payment of debts,
judgments, alimony, or separate maintenance or be transferable by operation of law in the event of
bankruptcy, insolvency, divorce or separation.

     8. No Claim Against Employee. Nothing contained herein shall be construed as giving
Employee or Employee’s beneficiary, or any other person, any equity or other interest of any kind
in any assets of the Company, or creating a trust of any kind or a fiduciary relationship of any
kind between the Company and any such person.

     9. Confidentiality. All discussions pertaining to this Agreement, including but not
limited to the number of shares of Common Stock awarded or other terms or conditions of the
negotiations or the agreement reached, shall be kept strictly confidential by Employee from all
persons and entities other than the Parties to this Agreement. However, Employee may disclose the
Agreement received only if necessary (i) for the rendition of professional advice or services from
an attorney, financial advisor, insurance provider, or accountant (after instructing them that the
amount is confidential), (ii) for the limited purpose of making disclosures required by law to
agents of local, state, or federal governments, or (iii) in response to compulsory process. In the
latter instance, Employee will give the Company ten days advance notice prior to any disclosure to
afford the Company the opportunity to obtain any necessary or appropriate protective orders.

     10. Adjustments. In the event of a stock split, stock dividend, reverse stock split,
reclassification or recapitalization, the Company shall, to the extent (if any) and at such time as
it deems appropriate and equitable in the circumstances, proportionately adjust the number of
shares of Common Stock subject to Deferred Issuance. In the event of a merger, consolidation or
other reorganization that does not constitute a Change in Control, the Company shall, to the extent
(if any) and at such time as it deems appropriate and equitable in the circumstances, make
provision for the assumption, substitution or exchange of Deferred Issuance Shares for the shares
of the resulting entity in the merger, consolidation or reorganization. Any adjustment,
substitution or exchange made pursuant to this Section 10 shall be made in a manner that, in the
good faith determination of the Company, will not likely result in the imposition of additional
taxes or interest under Section 409A of the Code.

     11. Representations and Warranties. Employee represents and warrants as follows:

          (a) Employee has received and reviewed a Prospectus describing the Resolute Energy Corporation
Retention Bonus Awards.

          (b) Employee has read this Agreement, including the escrow agreement attached hereto as Annex
A, and agrees to the conditions and obligations set forth in it.

          (c) Employee is voluntarily executing this Agreement after having been advised to consult with
legal counsel and after having had the opportunity to consult with legal

-7-

 

counsel and without being pressured or influenced by any statement or representation or
omission of any person acting on behalf of the Company (other than those expressly contained
herein).

          (d) Employee has full and complete legal capacity to enter into this Agreement.

          (e) Employee has not assigned or transferred, and will not assign or transfer, any of his or
her rights under this Agreement.

          (f) Employee is not otherwise entitled to receive the consideration given to him pursuant to
this Agreement.

     12. Enforcement. The Parties are free to pursue any remedies available to them to
enforce this Agreement.

     13. Amendment. This Agreement may be amended, modified or supplemented only by the
written agreement of Employee, the Company and Holdings.

     14. Binding Effect. This Agreement and the rights and obligations hereunder are
binding upon and inure to the benefit of the Parties hereto and their respective heirs, legal
representatives, and successors.

     15. Headings. The headings in this Agreement are inserted for convenience and
identification only and are not intended to describe, interpret, define, or limit the scope,
extent, or intent of this Agreement or any provision hereof.

     16. Choice of Law and Venue. The validity of this Agreement and any of its terms and
provisions, as well as the rights and duties of the Parties hereunder, is governed by the laws of
the State of Colorado (without regard to its conflicts of law doctrines). Any dispute arising from
or relating to this Agreement shall be resolved in the Colorado state or federal courts.

     17. Severability and Invalid Provisions. If any provision of this Agreement is held
to be illegal, invalid, or unenforceable under present or future laws effective during the term
hereof, such provision is fully severable; and this Agreement will be construed and enforced as if
such illegal, invalid, or unenforceable provision had never comprised a part hereof; and the
remaining provisions hereof shall remain in full force and effect and shall not be affected by the
illegal, invalid, or unenforceable provision or by its severance herefrom.

     18. Entire Award. This Agreement embodies the entire agreement and understanding of
the parties hereto, and supersedes all prior agreements or understandings (whether written or
oral), with respect to the subject matter hereof. There are no restrictions, promises,
representations, warranties, covenants or undertakings, other than those expressly set forth or
referred to herein.

     19. Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

-8-

 

     IN WITNESS WHEREOF, this Agreement has been duly executed as of the date set forth above:

	 	 	 	 	 	 
	RESOLUTE ENERGY CORPORATION	 	EMPLOYEE
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 
	 	 
	 

	 	Title:
	 	Signature
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	 	 	PRINT NAME

	 	 	 	 	 
	RESOLUTE HOLDINGS, LLC

 	 	 
	By:  	 	 	 
	 	Title: 	 	 
	 	 	 	 
	 
	RESOLUTE HOLDINGS SUB, LLC

 	 	 
	By:  	 	 	 
	 	Title: 	 	 
	 	 	 	 
	 

-9-exv4w1

Exhibit 4.1

RELIANCE STEEL & ALUMINUM CO.

SECOND AMENDMENT

TO AMENDED AND RESTATED CREDIT AGREEMENT

          This SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is dated as
of September 25, 2009 and entered into by and among Reliance Steel & Aluminum Co., a California
corporation (“Borrower”), the lenders party to the Credit Agreement (the “Lenders”) and Bank of
America, N.A., as administrative agent for the Lenders (the “Administrative Agent”) and is made
with reference to that certain Amended and Restated Credit Agreement dated as of November 9, 2006,
as amended by a First Amendment dated as of July 31, 2008 (the “Credit Agreement”), by and among
Borrower, Lenders and Administrative Agent. Capitalized terms used herein without definition shall
have the same meanings herein as set forth in the Credit Agreement.

RECITALS

          WHEREAS, Borrower desires to modify certain provisions of the Credit Agreement.

          WHEREAS, Borrower and the Lenders have agreed to make such modifications on the terms and
subject to the conditions contained in this Amendment.

          NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto agree as follows:

Section 1. AMENDMENTS TO THE CREDIT AGREEMENT

     1.1 Borrowers. RSAC Management Corp., a California Corporation (“RSAC
Management”) having merged with Borrower party to this Amendment as of January 1, 2009 as
permitted by Section 7.7(a) of the Credit Agreement, (a) all references in the Credit
Agreement and the other Loan Documents to RSAC Management shall be construed as solely references
to Borrower party to this Amendment; (b) all references to more than one Borrower are amended to
refer to the remaining Borrower; and (c) provisions of the Credit Agreement and the other Loan
Documents are adjusted to have their correlative meaning in respect of a single Borrower.

     1.2 New Definitions. The following new definitions are added to Section 1.1
of the Credit Agreement in correct alphabetical order to read as follows:

     “‘Extended Maturity Date’ has the meaning given in the definition of ‘Maturity
Date.’”

     “‘Extending Lender’ means each Lender whose Commitment appears in the
Commitment of Extending Lenders column on Schedule 2.1 to the Second Amendment and
its successors and assigns in accordance with Section 10.6.”

     “‘Initial Maturity Date’ has the meaning given in the definition of “Maturity
Date.”

     “‘Non-Extending Lender’ means any Lender that is not an Extending Lender.”

     “‘Second Amendment’ means the Second Amendment to this Agreement dated as of
September 25, 2009.”

 

 

     “‘Second Amendment Effective Date’ means the date on which the Administrative
Agent notifies the parties to this Agreement that all of the conditions to the effectiveness
of the Second Amendment have been satisfied.”

     “‘Travel Main Acquisition’ means the Acquisition by Borrower of all outstanding
capital stock of Travel Main Corporation, a Delaware corporation, for an aggregate
consideration not to exceed $80,000,000, of which not more than $50,000,000 is paid by
assumption of Indebtedness that is non-recourse to Borrower and its Subsidiaries, except for
normal and customary carve-outs, and the remainder of which is paid in cash.”

     1.3 Amended Definitions. The definitions of “Base Rate,” “Commitment,” “EBIT,” “Fee
Letter,” “Maturity Date” and “Net Income” in Section 1.1 of the Credit Agreement are
deleted in their entirety and are replaced with the following definitions:

     “‘Base Rate’ means, for any day, a fluctuating rate per annum equal to the
highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for
such day as publically announced from time to time by Bank of America as its “Prime Rate”
and (c) the rate determined by Bank of America to be the Eurodollar Rate for a one month
Interest Period beginning on such day (or if such day is not a Business Day, the immediately
preceding Business Day) plus 1%, where, the ‘Prime Rate’ is a rate set by Bank of
America based upon various factors including Bank of America’s costs and desired return,
general economic conditions and other factors, and is used as a reference point for pricing
some loans, which may be priced at, above or below such announced rate. Any change (i) in
such Prime Rate announced by Bank of America shall take effect at the opening of business on
the day specified in the public announcement of such change and (ii) in such Eurodollar Base
Rate shall take effect on the date of such change.”

     “‘Commitment’ means (a) until the Initial Maturity Date, for each Lender, the
amount set forth opposite such Lender’s name on Schedule 2.1 and (b) on and after
the Initial Maturity Date, for each Extending Lender, the amount set forth opposite such
Extending Lender’s name on Schedule 2.1, as any such Commitment amount of any Lender
may be reduced or adjusted from time to time pursuant to the terms of this Agreement
(collectively, as of any time, the ‘Aggregate Commitments’). The respective Pro
Rata Shares of the Aggregate Commitments as of the Second Amendment Effective Date are set
forth in Schedule 2.1 attached to the Second Amendment.”

     “‘EBIT’ means, with respect to any Person and with respect to any fiscal
period, the sum of (a) Net Income of that Person for that period,
plus (b) any non-operating non-recurring loss reflected in such Net Income,
minus (c) any non-operating non-recurring gain reflected in such Net Income,
plus (d) Interest Expense of that Person for that period, plus (e) the
aggregate amount of federal and state taxes on or measured by income of that Person for that
period (whether or not payable during that period) plus (f) non-recurring non-cash
expenses (excluding depreciation and amortization) of that Person, including, without
limitation, non-cash expense realized on an accelerated basis in connection with prepayment
of the Term Loan, in the case of each clause (a) through (f) in accordance with GAAP.”

     “‘Fee Letter’ means, collectively, any fee letters entered into among Borrower,
Administrative Agent and Arranger with respect to fees payable under this Agreement.”

     “‘Maturity Date’ means (a) for the $80,000,000 of the Commitments held by the
Non-Extending Lenders, November 9, 2011 (the ‘Initial Maturity Date’) and (b) for
the

2

 

$1,020,000,000 of the Commitments held by the Extending Lenders, November 9, 2012 (the
‘Extended Maturity Date’); provided, however, that if Borrower shall
fail to timely make any payments payable to the Non-Extending Lenders on the Initial
Maturity Date, the Extended Maturity Date shall coincide with the Initial Maturity Date.”

     “‘Net Income’ means, with respect to any fiscal period, the consolidated net
income of Borrower and its Subsidiaries, excluding any consolidated net income not
attributable to Borrower and its Subsidiaries, for that period, determined in accordance
with GAAP, consistently applied.

     1.4 Applicable Margin. The introductory paragraph and pricing grid appearing in the
definition of “Applicable Margin” in Section 1.1 of the Credit Agreement are deleted in
their entirety and replaced with the following paragraph and pricing grid:

     “‘Applicable Margin’ means, for any Pricing Period, the per annum amounts set
forth below (in basis points per annum) opposite the applicable Pricing Level;
provided, however, that until Administrative Agent’s receipt of the
Compliance Certificate for the period ending September 30, 2009 required under Section
6.2(a), such amounts for Extending Lenders shall be those indicated for Pricing Level 4:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Extending Lenders
	 	 	 	 	Non-Extending Lenders	 	and Swing Line Lender
	 	 	Total	 	 	 	 	 	 	 	 	 	 	 	 
	Pricing	 	Leverage	 	Letters of Credit	 	Base Rate	 	Commitment	 	Letters of Credit	 	Base Rate	 	Commitment
	Level	 	Ratio	 	Eurodollar Rate +	 	+	 	Fee	 	Eurodollar Rate +	 	+	 	Fee
	1
	 	>0.55:1.00	 	 	100.0	 	 	 	0.0	 	 	 	25.0	 	 	 	400.0	 	 	 	300.0	 	 	 	50.0	 
	2
	 	<0.55:1.00 but >0.45:1.00	 	 	75.0	 	 	 	0.0	 	 	 	15.0	 	 	 	400.0	 	 	 	300.0	 	 	 	50.0	 
	3
	 	<0.45:1.00 but >0.35:1.00	 	 	55.0	 	 	 	0.0	 	 	 	12.5	 	 	 	375.0	 	 	 	275.0	 	 	 	45.0	 
	4
	 	<0.35:1.00 but >0.25:1.00	 	 	45.0	 	 	 	0.0	 	 	 	10.0	 	 	 	350.0	 	 	 	250.0	 	 	 	40.0	 
	5
	 	<0.25:1.00	 	 	37.5	 	 	 	0.0	 	 	 	8.0	 	 	 	325.0	 	 	 	225.0	 	 	 	35.0	 

     1.5 Minimum Amount. The definition of “Minimum Amount” is amended to add the end
thereof the following sentence:

“Notwithstanding the foregoing, the Minimum Amount of Loans that may be repaid on the
Initial Maturity Date shall be the amount, if any required, to repay Loans required to be
repaid on such date in accordance with Section 2.16 of this Agreement.”

     1.6 Swing Line Loans. Sections 2.3(a) and 2.3(b) of the Credit
Agreement are amended to replace the term “Maturity Date” with “Extended Maturity Date.”

     1.7 Expiration Date of Letters of Credit. Sections 2.4(a) and 2.4(f)
of the Credit Agreement are amended to replace the term “Maturity Date” with “Extended Maturity
Date.”

3

 

     1.8 Voluntary Reduction or Termination of Commitments. The first proviso to the first
sentence in Section 2.6 of the Credit Agreement is amended to read as follows:

“provided, that Borrower shall not terminate or reduce the Commitments if, after
giving effect thereto and any concurrent prepayment hereunder, the Outstanding Obligations
would exceed the Aggregate Commitments or the Letter of Credit Usage would exceed the
remaining Commitments of the Extending Lenders;”

     1.9 Initial Maturity Date. A new Section 2.16 is added immediately after
Section 2.15 to read as follows:

     “2.16 The Initial Maturity Date and Payments to Non-Extending Lenders.

     “(a) On the Initial Maturity Date, in addition to repaying Committed Loans to the
Non-Extending Lenders in accordance with Section 2.7(a) together with interest
thereon, Borrower agrees to (i) pay to Administrative Agent for the account of the
Non-Extending Lenders accrued and unpaid fees and expenses payable to Non-Extending Lenders
under Section 2.8 or any other provisions of this Agreement and (ii) prepay Swing
Line Loans and other Committed Loans, together with interest thereon, in accordance with
Sections 2.3 and 2.5, respectively, in an aggregate principal amount equal
to the amount, if any, by which (A) the Outstanding Amount of Loans remaining after
repayment of Committed Loans to the Non-Extending Lenders in accordance with Section
2.7(a) plus the Outstanding Amount of Letter of Credit Usage on the Initial Maturity
Date exceeds (B) the Aggregate Commitments of the Extending Lenders. Any such prepayments
shall be applied first to Swing Line Loans and then to Committed Loans, and any such
repayment of a Eurodollar Rate Loan made as contemplated by this Section 2.16(a) on
a date other than the last day of the relevant Interest Period shall be accompanied by any
amount payable in accordance with Section 3.6.

     “(b) Unless the Aggregate Commitments otherwise terminate on or prior to the Initial
Maturity Date, on the Initial Maturity Date, the Commitments of the Non-Extending Lenders
will terminate, and the Swing Line Lender and Issuing Lender shall automatically be deemed
to have (i) repurchased from each of the Non-Extending Lenders, and the Non-Extending
Lenders shall be deemed to have sold, the outstanding participation interests in outstanding
Swing Line Loans and Letter of Credit Usage, respectively, previously sold to such
Non-Extending Lender by the Swing Line Lender and the Issuing Lender pursuant to
Sections 2.3(d) and 2.4(c) and (ii) sold the participation interests so
repurchased to the Extending Lenders, and the Extending Lenders shall be deemed to have
purchased such participation interests, in accordance with their respect Pro Rata Shares of
the Aggregate Commitments remaining outstanding under this Agreement.

     “(c) Each Extending Lender’s and Non-Extending Lender’s Pro Rata Share of interest and
commitment fees payable hereunder shall be determined taking into account the differing
Applicable Margins applicable to the Extending Lenders and Non-Extending Lenders,
respectively.”

     1.10 Investments. Section 7.2(f) of the Credit Agreement is deleted in its
entirety and replaced with the following:

     “(f) Other Investments in the aggregate not exceeding (i) during the period from the
Second Amendment Effective Date until and including June 30, 2010, $35,000,000 and (ii)
after
June 30, 2010, 10% of Consolidated Net Worth as of the end of the most recently ended Fiscal
Quarter.”

4

 

     1.11 Permitted Indebtedness. Section 7.3(h) of the Credit Agreement is
deleted in its entirety and replaced with the following:

     “(h) (i) non-recourse Indebtedness (subject to normal and customary carve-outs) not to
exceed $50,000,000 incurred in connection with the Travel Main Acquisition and (ii) other
Indebtedness in addition to that described in the preceding clause (i) and Sections
7.3(a) through 7.3(g) above incurred for business purposes (including, without
limitation, capital leases and Synthetic Leases) in an aggregate principal amount at any one
time outstanding not to exceed $75,000,000.”

     1.12 Acquisitions. Section 7.8(a) of the Credit Agreement is deleted in its
entirety and replaced with the following:

     “(a) (i) Make or agree to make any Acquisition as of any date if after giving effect
thereto, Borrower would not be in compliance with the terms and conditions of this Agreement
on a pro forma basis or (ii) except for the Travel Main Acquisition, (A) make or agree to
make any Acquisition during the period from the Second Amendment Effective Date through and
including December 31, 2009 or (B) make or agree to make any Acquisition during the period
from and including January 1, 2010 through and including June 30, 2010 if, after giving
effect thereto, the aggregate consideration paid for Acquisitions (other than the Travel
Main Acquisition) during such period would exceed the sum of (A) 100% of the EBITDA of
Borrower and its Subsidiaries, on a consolidated basis, during the most recent four Fiscal
Quarters for which financial statements have been received by the Administrative Agent
pursuant to Section 6.1 plus (B) the amount of consideration paid in equity
securities of Borrower for Acquisitions on or after January 1, 2010 plus the proceeds of
common stock (net of customary fees, commissions, costs and other expenses incurred in
connection therewith) otherwise issued by the Borrower on or after the Second Amendment
Effective Date; or”

     1.13 Interest Coverage Ratio. Section 7.10 of the Credit Agreement is deleted
in its entirety and replaced with the following:

     “7.10 Interest Coverage Ratio. Permit the Interest Coverage Ratio to be less
than (a) as of September 30, 2009, December 31, 2009 and March 31, 2010, 2.00 to 1.00 or (b)
as of the last day of any other Fiscal Quarter, 3.00 to 1.00.”

     1.14 Total Leverage Ratio. Section 7.11 of the Credit Agreement is deleted in
its entirety and replaced with the following:

     “7.11 Total Leverage Ratio. Permit the Total Leverage Ratio to be greater than
(a) as of September 30, 2009, December 31, 2009 and March 31, 2010, 0.50 to 1.00 or (b) as
of the last day of any other Fiscal Quarter, 0.60 to 1.00.

     1.15 Distributions. Section 7.14 of the Credit Agreement is deleted in its
entirety and replaced with the following:

     “7.14 Distributions. (a) Make any Distribution at any time, whether from
capital, income or otherwise, and whether in Cash or other Property if, after giving effect
thereto,

5

 

Borrower would not be in compliance with the terms and conditions of this Agreement on
a pro forma basis or (b) make any Distributions for the retirement, redemption, purchase or
other acquisition of Borrower’s or any of its Subsidiaries’ equity securities during the
period from the Second Amendment Effective Date until and including June 30, 2010 in an
aggregate amount in excess of $35,000,000 or (c) declare or pay dividends or other
Distributions on account of equity securities of Borrower or any of its Subsidiaries during
the period from the Second Amendment Effective Date until and including June 30, 2010 in an
aggregate amount in excess of the sum of (i) $40,000,000 plus (ii), to the extent that
Borrower issues common equity securities after the Second Amendment Effective Date,
dividends and other Distributions on such common equity securities proportionate to the
Distributions made during such period on account of common equity securities outstanding
immediately prior to the Second Amendment Effective Date.”

     1.16 Amendments. Section 10.1(b) of the Credit Agreement is amended to delete
the phrase “except for any such extension made in accordance with Section 2.12.”

     1.17 Subsidiaries. Schedule 5.15 of the Credit Agreement is deleted in its
entirety and replaced with Schedule 5.15 to this Amendment.

Section 2. CONDITIONS TO EFFECTIVENESS

          This Amendment shall become effective when all of the following conditions precedent have been
satisfied:

               A. Administrative Agent shall have received all of the following, and each in form and
substance satisfactory to Administrative Agent:

                    (i) at least one original, telecopied or electronically delivered counterpart of this
Amendment executed by Extending Lenders comprising Requisite Lenders, Borrower, Guarantors and
Administrative Agent;

                    (ii) evidence that the Term Loan has been or will be repaid in full no later than the Second
Amendment Effective Date; and

                    (iii) such other assurances, certificates, documents, consents or opinions as Administrative
Agent may reasonably require.

               B. Borrower shall have executed a fee letter with Arranger and Administrative Agent, and
Arranger shall have received the fees that are due and payable thereunder.

               C. Borrower shall have paid to Administrative Agent for the pro rata account of each Extending
Lender timely executing and delivering this Amendment an amendment fee equal to 25 basis points of
such Lender’s Commitment.

               D. Attorney Costs of Administrative Agent to the extent invoiced prior to or on the Second
Amendment Effective Date, plus such additional amounts of Attorney Costs as shall constitute
Administrative Agent’s reasonable estimate of Attorney Costs incurred or to be incurred by it
through the closing proceedings (provided that such estimate shall not hereafter preclude final
settling of accounts between Borrower and Administrative Agent) shall have been paid.

6

 

               E. On or before the Second Amendment Effective Date, all corporate and other proceedings taken
or to be taken in connection with the transactions contemplated hereby and all documents incidental
thereto not previously found acceptable by Administrative Agent, acting on behalf of Lenders, and
its counsel shall be reasonably satisfactory in form and substance to Administrative Agent and such
counsel, and Administrative Agent and such counsel shall have received all such counterpart
originals or certified copies of such documents as Administrative Agent may reasonably request.

Section 3. BORROWER’S REPRESENTATIONS AND WARRANTIES

          In order to induce Lenders to enter into this Amendment and to amend the Credit Agreement in
the manner provided herein, Borrower represents and warrants to each Lender that the following
statements are true, correct and complete:

     3.1 Corporate Power and Authority. Borrower has all requisite corporate power and authority
to enter into this Amendment and to carry out the transactions contemplated by, and perform its
obligations under, the Credit Agreement as amended by this Amendment.

     3.2 Authorization of Agreements. The execution and delivery of this Amendment have been duly
authorized by all necessary corporate action on the part of Borrower.

     3.3 No Conflict. The execution and delivery by Borrower of this Amendment, and the
consummation of the transactions contemplated hereby do not and will not (i) violate any provision
of any law or any governmental rule or regulation applicable to Borrower or any of its
Subsidiaries, the certificate or articles of incorporation or bylaws of Borrower or any of its
Subsidiaries or any order, judgment or decree of any court or other agency of government binding on
Borrower or any of its Subsidiaries, (ii) conflict with, result in a breach of or constitute (with
due notice or lapse of time or both) a default under any Contractual Obligation to which Borrower
or any of its Subsidiaries is a party or by which Borrower or any of its Subsidiaries or any of its
or their Property is bound or affected, other than (1) conflicts that will be resolved on or before
the Second Amendment Effective Date or (2) conflicts that could not reasonably be expected to have
a Material Adverse Effect.

     3.4 Governmental Consents. The execution and delivery by Borrower of this Amendment and the
performance by Borrower of the Credit Agreement, as amended hereby do not and will not require any
registration with, consent or approval of, or notice to, or other action to, with or by, any
federal, state or other Governmental Authority or regulatory body, except such consent and approval
which have been obtained on or prior to the Second Amendment Effective Date or registration or
notice which have been made on or prior to the First Amendment Effective Date.

     3.5 Binding Obligation. This Amendment has been duly executed and delivered by Borrower and
is the legally valid and binding obligation of Borrower, enforceable against it in accordance with
its terms, except as the same as may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable
principles relating to enforceability.

     3.6 Representations and Warranties From Credit Agreement. The representations and warranties
contained in Section 5 of the Credit Agreement are and will be true, correct and complete
in all material respects on and as of the Second Amendment Effective Date, except to the extent
such representations and warranties specifically relate to an earlier date, in which case they were
true, correct and complete in all material respects on and as of such earlier date.

7

 

     3.7 Absence of Default. No event has occurred and is continuing or will result from the
consummation of the transactions contemplated by this Amendment that would constitute a Default or
an Event of Default.

Section 4. MISCELLANEOUS

     4.1 Reference to and Effect on the Credit Agreement and the Other Loan Documents.

          A. On and after the Second Amendment Effective Date, each reference in the Credit Agreement to
“this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit
Agreement, and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement shall mean and be a reference
to the Credit Agreement as amended hereby.

          B. Except as specifically amended by this Amendment, the Credit Agreement, the Master
Subsidiary Guaranty and the other Loan Documents shall remain in full force and effect and are
hereby ratified and confirmed.

          C. The execution, delivery and performance of this Amendment shall not, except as expressly
provided herein, constitute a waiver of any provision of, or operate as a waiver of any right,
power or remedy of Administrative Agent or any Lender under, the Credit Agreement, the Master
Subsidiary Guaranty or any of the other Loan Documents.

     4.2 Headings. Section and subsection headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment for any other
purpose or be given any substantive effect.

     4.3
Applicable Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF CALIFORNIA, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

     4.4 Counterparts; Effectiveness. This Amendment may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when so executed and
delivered shall be deemed an original, but all such counterparts together shall constitute but one
and the same instrument; signature pages may be detached from multiple separate counterparts and
attached to a single counterpart so that all signature pages are physically attached to the same
document.

[Remainder of page intentionally left blank]

8

 

          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective officers thereunto duly authorized as of the date first written
above.

	 	 	 	 	 	 	 
	 	 	BORROWER:	 	 
	 
	 	 	 	 	 	 
	 	 	RELIANCE STEEL & ALUMINUM CO.,	 	 
	 	 	a California corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David H. Hannah	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	David H. Hannah	 	 
	 

	 	Title:
	 	Chairman and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Karla Lewis	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Karla Lewis	 	 
	 

	 	Title:
	 	Executive Vice President and Chief Financial
Officer	 	 

S-1

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.,	 	 
	 	 	as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ken Puro	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ken Puro	 	 
	 

	 	Title:
	 	Vice President	 	 

S-2

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.,	 	 
	 	 	as Issuing Lender, Swing Line Lender and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Matthew Koenig	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Matthew Koenig	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

S-3

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, N.A.,	 	 
	 	 	as Syndication Agent and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Stender E. Sweeney II	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Stender E. Sweeney II	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

S-4

 

	 	 	 	 	 	 	 
	 	 	CITICORP NORTH AMERICA, INC.,	 	 
	 	 	as Co-Documentation Agent and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ George Calfo	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	George Calfo	 	 
	 

	 	Title:
	 	Managing Director	 	 

S-5

 

	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A.	 	 
	 	 	as Co-Documentation Agent and a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ling Li	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Ling Li	 	 
	 

	 	Title:
	 	Vice President	 	 

S-6

 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, N.A.,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David W. Shaw	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	David W. Shaw	 	 
	 

	 	Title:
	 	Vice President	 	 

S-7

 

	 	 	 	 	 	 	 
	 	 	KEYBANK NATIONAL ASSOCIATION,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Suzannah Harris	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Suzannah Harris	 	 
	 

	 	Title:
	 	Vice President	 	 

S-8

 

	 	 	 	 	 	 	 
	 	 	UNION BANK, N.A., as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Peter Thompson	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Peter Thompson	 	 
	 

	 	Title:
	 	Vice President	 	 

S-9

 

	 	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION,	 	 
	 	 	as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Richard J. Ameny, Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Richard J. Ameny, Jr.	 	 
	 

	 	Title:
	 	Vice President	 	 

S-1

 

	 	 	 	 	 	 	 
	 	 	UBS LOAN FINANCE LLC,
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Irja R. Otsa
	 	/s/ Marie A. Haddad
	 	 	 	 	   	   	   
	 

	 	Name:
	 	Irja R. Otsa
	 	Marie A. Haddad
	 

	 	Title:
	 	Associate Director

Banking Products

Services US
	 	Associate Director

Banking Products

Services US

S-2

 

	 	 	 	 	 
	 	 	COMERICA BANK,
	 	 	as a Lender
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Elise M. Moore
	 

	 	 	 	 
	 

	 	Name:
	 	Elise M. Moore
	 

	 	Title:
	 	Vice President

S-3

 

	 	 	 	 	 
	 	 	FIFTH THIRD BANK,
	 	 	as a Lender
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Gary S. Losey
	 

	 	 	 	 
	 

	 	Name:
	 	Gary S. Losey
	 

	 	Title:
	 	Vice President

S-4

 

	 	 	 	 	 	 	 
	 	 	BNP PARIBAS,
	 	 	as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Jamie Dillon
	 	/s/ Joseph Mack
	 	 	 	 	   
	 

	 	Name:
	 	Jamie Dillon
	 	Joseph Mack
	 

	 	Title:
	 	Managing Director
	 	Vice President

S-5

 

	 	 	 	 	 
	 	 	THE NORTHERN TRUST COMPANY,
	 	 	as a Lender
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Morgan A. Lyons
	 

	 	 	 	 
	 

	 	Name:
	 	Morgan A. Lyons
	 

	 	Title:
	 	Vice President

S-6

 

CONSENT AND AGREEMENT OF GUARANTORS

     THIS CONSENT AND AGREEMENT OF GUARANTORS (“Consent”) is executed and delivered as of the
Second Amendment Effective Date by the undersigned (the “Guarantors”), in favor of the Lenders and
Administrative Agent under the Credit Agreement, as amended by the foregoing Amendment. Unless
otherwise defined herein, capitalized terms used herein shall have the meanings ascribed to them in
the Credit Agreement, as amended.

W I T N E S S E T H:

     WHEREAS, the Guarantors have executed and delivered the Master Subsidiary Guaranty under the
Credit Agreement; and

     WHEREAS, it is a condition to the foregoing Amendment that the Guarantors shall have executed
this Consent;

     NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Guarantors hereby consent to the Amendment and agree that the Guaranty
continues in full force and effect.

     IN WITNESS WHEREOF, each Guarantor has executed this Guaranty by its duly authorized officer
as of the date first written above.

(Intentionally left blank.)

 

 

     IN WITNESS WHEREOF, each Guarantor has executed this Guaranty by its duly authorized officer
as of the date first written above.

GUARANTORS:

ALLEGHENY STEEL DISTRIBUTORS, INC.

ALUMINUM AND STAINLESS, INC.

AMERICAN METALS CORPORATION

AMI METALS, INC.

CCC STEEL, INC.

CHAPEL STEEL CORP.

CHATHAM STEEL CORPORATION

CLAYTON METALS, INC.

CREST STEEL CORPORATION

DELTA STEEL, INC.

DURRETT SHEPPARD STEEL CO., INC.

EARLE M. JORGENSEN COMPANY

FERALLOY CORPORATION

INFRA-METALS CO.

LBT, INC.

LIEBOVICH BROS., INC.

METALS SUPPLY COMPANY, LTD.

PACIFIC METAL COMPANY

PDM STEEL SERVICE CENTERS, INC.

PHOENIX CORPORATION

PRECISION FLAMECUTTING AND STEEL, INC.

PRECISION STRIP INC.

PRECISION STRIP TRANSPORT, INC.

SERVICE STEEL AEROSPACE CORP.

SISKIN STEEL & SUPPLY COMPANY, INC.

SMITH PIPE & STEEL COMPANY

SUGAR STEEL CORPORATION

TOMA METALS, INC.

VIKING MATERIALS, INC.

YARDE METALS, INC.

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 
	 

	 	Name:
	Karla Lewis	 	 
	 

	 	Title:
	 	Vice President and Secretary of each of the foregoing
	 	 
	 
	 	 	 	 	 	 
	 	 	PNA GROUP, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 
	 

	 	Name:
	Karla Lewis	 	 
	 

	 	Title:
	 	Vice President, Chief Financial Officer and Secretary of the foregoing	 	 

 

 

SCHEDULE 2.1

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Pro Rata Share	 
	 	 	 	 	 	 	Pro Rata Share	 	 	 	 	 	 	After	 
	 	 	 	 	 	 	Before Termination	 	 	 	 	 	 	Termination of	 
	 	 	 	 	 	 	of Non-Extending	 	 	Commitment of	 	 	Non-Extending	 
	 	 	 	 	 	 	Lenders’	 	 	Extending	 	 	Lenders’	 
	            Lender	 	Commitment	 	 	Commitments	 	 	Lender	 	 	Commitments
	Bank of America, N.A.
	 	$	200,000,000.00	 	 	 	18.181818182	%	 	$	200,000,000.00	 	 	 	19.607843137	%
	Wachovia Bank, N.A.
	 	$	125,000,000.00	 	 	 	11.363636364	%	 	$	125,000,000.00	 	 	 	12.254901961	%
	JPMorgan Chase Bank, N.A.
	 	$	125,000,000.00	 	 	 	11.363636364	%	 	$	125,000,000.00	 	 	 	12.254901961	%
	Citicorp North America, Inc.
	 	$	125,000,000.00	 	 	 	11.363636364	%	 	$	125,000,000.00	 	 	 	12.254901961	%
	Wells Fargo Bank, N.A.
	 	$	100,000,000.00	 	 	 	9.090909091	%	 	$	100,000,000.00	 	 	 	9.803921569	%
	Key Bank National Association
	 	$	50,000,000.00	 	 	 	4.545454545	%	 	$	50,000,000.00	 	 	 	4.901960784	%
	Union Bank, N.A.
	 	$	50,000,000.00	 	 	 	4.545454545	%	 	$	50,000,000.00	 	 	 	4.901960784	%
	U.S. Bank National Association
	 	$	50,000,000.00	 	 	 	4.545454545	%	 	$	50,000,000.00	 	 	 	4.901960784	%
	Credit Suisse, Cayman Islands Branch
	 	$	45,000,000.00	 	 	 	4.090909091	%	 	 	 	 	 	 	 	 
	UBS Loan Finance LLC
	 	$	45,000,000.00	 	 	 	4.090909091	%	 	$	45,000,000.00	 	 	 	4.411764706	%
	Comerica Bank
	 	$	40,000,000.00	 	 	 	3.636363636	%	 	$	40,000,000.00	 	 	 	3.921568627	%
	Fifth Third Bank
	 	$	40,000,000.00	 	 	 	3.636363636	%	 	$	40,000,000.00	 	 	 	3.921568627	%
	BNP Paribas
	 	$	35,000,000.00	 	 	 	3.181818182	%	 	$	35,000,000.00	 	 	 	3.431372549	%
	Mizuho Corporate Bank, Ltd.
	 	$	35,000,000.00	 	 	 	3.181818182	%	 	 	 	 	 	 	 	 
	The Northern Trust Company
	 	$	35,000,000.00	 	 	 	3.181818182	%	 	$	35,000,000.00	 	 	 	3.431372549	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL
	 	$	1,100,000,000	 	 	 	100.000000000	%	 	$	1,020,000,000.00	 	 	 	100.000000000	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 

1

 

SCHEDULE 5.15

SUBSIDIARIES1

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	Form of	 	 	 	# of Shares Owned
	 	 	of	 	Legal	 	# of Shares	 	and
	Name	 	Organization	 	Entity	 	Outstanding	 	by Whom 
	Allegheny Steel Distributors, Inc.
	 	PA
	 	Corporation
	 	1,000

	 	1,000
by RSA
	 	 	 	 	 	 	 
	 	 
	Aluminum and Stainless, Inc.
	 	LA
	 	Corporation
	 	5,582

	 	5,582
by RSA
	 	 	 	 	 	 	 
	 	 
	American Metals Corporation2
	 	CA
	 	Corporation
	 	100

	 	100
by RSA
	 	 	 	 	 	 	 
	 	 
	AMI Metals, Inc.
	 	TN
	 	Corporation
	 	1,400

	 	1,400
by RSA
	 	 	 	 	 	 	 
	 	 
	AMI Metals Europe SPRL3
	 	Belgium
	 	Corporation
	 	210,855

	 	189,770 by AMI

21,085 by RSA
	 	 	 	 	 	 	 
	 	 
	CCC Steel, Inc.
	 	DE
	 	Corporation
	 	3,625.8

	 	3,625.8
by RSA
	 	 	 	 	 	 	 
	 	 
	Chapel Steel Corp.
	 	PA
	 	Corporation
	 	597

	 	597
by RSA
	 	 	 	 	 	 	 
	 	 
	Chatham Steel Corporation
	 	GA
	 	Corporation
	 	9,585.667

	 	9,585.667
by RSA
	 	 	 	 	 	 	 
	 	 
	Clayton Metals, Inc.
	 	IL
	 	Corporation
	 	1,000

	 	1,000 
by RSA
	 	 	 	 	 	 	 
	 	 
	Crest Steel Corporation
	 	CA
	 	Corporation
	 	13,140.604465
Voting
1,314,060.4
Non-Voting

	 	13,140.604465
Voting
by RSA
1,314,060.4
Non-Voting
by RSA
	 	 	 	 	 	 	 
	 	 
	Delta Steel, Inc. 4
	 	TX
	 	Corporation
	 	2,000

	 	2,000
by PNA Group8

1

 

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	Form of	 	 	 	# of Shares Owned
	 	 	of	 	Legal	 	# of Shares	 	and
	Name	 	Organization	 	Entity	 	Outstanding	 	by Whom 
	Durrett Sheppard Steel Co., Inc.
	 	CA
	 	Corporation
	 	100

	 	100
by RSA
	 	 	 	 	 	 	 
	 	 
	Earle M. Jorgensen (Asia) SDN. BHD.
	 	Malaysia
	 	Corporation
	 	100

	 	100
by RAH10
	 	 	 	 	 	 	 
	 	 
	Earle M. Jorgensen Company5
	 	DE
	 	Corporation
	 	1,000

	 	1,000
by RSA
	 	 	 	 	 	 	 
	 	 
	Everest Metals (Suzhou) Co. Ltd.
	 	PRC
	 	Corporation
	 	100% equity interest

	 	100% equity interest 
by RPP6
	 	 	 	 	 	 	 
	 	 
	Feralloy Corporation
	 	DE
	 	Corporation
	 	40,000

	 	40,000
by PNA Group8
	 	 	 	 	 	 	 
	 	 
	Infra-Metals Co.
	 	GA
	 	Corporation
	 	10,000

	 	10,000
by PNA Group8
	 	 	 	 	 	 	 
	 	 
	LBT, Inc.
	 	IL
	 	Corporation
	 	1,200

	 	1,200
by Liebovich7
	 	 	 	 	 	 	 
	 	 
	Liebovich Bros., Inc.7
	 	IL
	 	Corporation
	 	13,203

	 	13,203 
by RSA
	 	 	 	 	 	 	 
	 	 
	Metals Supply Company, Ltd. 8
	 	TX
	 	Corporation
	 	10,000

	 	10,000 
by PNA Group8
	 	 	 	 	 	 	 
	 	 
	Metalweb Limited
	 	UK
	 	Corporation
	 	550,701

	 	550,701
by RSA
	 	 	 	 	 	 	 
	 	 
	Pacific Metal Company
	 	OR
	 	Corporation
	 	100

	 	100
by RSA
	 	 	 	 	 	 	 
	 	 
	PDM Steel Service Centers, Inc.
	 	CA
	 	Corporation
	 	1,000

	 	1,000
by RSA
	 	 	 	 	 	 	 
	 	 
	Phoenix Corporation
	 	GA
	 	Corporation
	 	6,229

	 	6,229
by RSA
	 	 	 	 	 	 	 
	 	 
	PNA Group, Inc.
	 	DE
	 	Corporation
	 	1,000

	 	1,000
by RSA8
	 	 	 	 	 	 	 
	 	 
	Precision Flamecutting and Steel, Inc.
	 	TX
	 	Corporation
	 	1,000

	 	1,000
by PNA Group8

2

 

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	Form of	 	 	 	# of Shares Owned
	 	 	of	 	Legal	 	# of Shares	 	and
	             Name	 	Organization	 	Entity	 	Outstanding	 	by Whom 
	Precision Strip, Inc.9
	 	OH
	 	Corporation
	 	1,000 
Class A Voting
3,935
Class B Non-Voting

	 	1,000 
Class A Voting
by RSA
3,935
Class B Non-Voting
by RSA
	 	 	 	 	 	 	 
	 	 
	Precision Strip Transport, Inc.
	 	OH
	 	Corporation
	 	60
Class A Voting

	 	60
Class A Voting
by Precision Strip9
	 	 	 	 	 	 	 
	 	 
	Reliance Asia Holdings Pte. Ltd. 10
	 	Singapore
	 	Corporation
	 	3,702,000

	 	3,702,000
by RSA
	 	 	 	 	 	 	 
	 	 
	Reliance Metalcenter Asia Pacific Pte. Ltd.
	 	Singapore
	 	Corporation
	 	3,000,000

	 	3,000,000
by RAH10
	 	 	 	 	 	 	 
	 	 
	Reliance Metals Canada Limited11
	 	Alberta, Canada
	 	Corporation
	 	1

	 	1
by EMJ
	 	 	 	 	 	 	 
	 	 
	Reliance Pan Pacific Pte.Ltd.6
	 	Singapore
	 	Corporation
	 	8,228,860 ordinary shares

	 	8,228,860
by RSA
	 	 	 	 	 	 	 
	 	 
	Service Steel Aerospace Corp. 12
	 	DE
	 	Corporation
	 	100

	 	100
by RSA
	 	 	 	 	 	 	 
	 	 
	Siskin Steel & Supply Company, Inc. 13
	 	TN
	 	Corporation
	 	88,000
voting common
3,691,116
non-voting common

	 	88,000
by RSA
3,691,116
by RSA
	 	 	 	 	 	 	 
	 	 
	Smith Pipe & Steel Company
	 	AZ
	 	Corporation
	 	396,100 common
500,000 preferred

	 	396,100 common shares 
by Delta Steel, Inc. 4,8
500,000 preferred shares 
by Delta Steel, Inc.4,8
	 	 	 	 	 	 	 
	 	 
	Sugar Steel Corporation
	 	IL
	 	Corporation
	 	87,008.60

	 	87,008.60
by PNA Group8

3

 

	 	 	 	 	 	 	 	 	 
	 	 	Jurisdiction	 	Form of	 	 	 	# of Shares Owned
	 	 	of	 	Legal	 	# of Shares	 	and
	Name	 	Organization	 	Entity	 	Outstanding	 	by Whom 
	Team Tube Canada ULC (formerly RSAC Canada (Tube) ULC)
	 	Alberta, Canada
	 	Corporation
	 	44,707

	 	44,707
by RMCL11
	 	 	 	 	 	 	 
	 	 
	Toma Metals, Inc.
	 	PA
	 	Corporation
	 	100

	 	100
by RSA
	 	 	 	 	 	 	 
	 	 
	Valex Corp.
	 	CA
	 	Corporation
	 	114,000

	 	(a) 3,000 
by Dan Mangan
(b) 111,000 
by RSA
	 	 	 	 	 	 	 
	 	 
	Valex China Co., Ltd.
	 	PRC
	 	Corporation
	 	 

	 	100% by Valex Holdings14
	 	 	 	 	 	 	 
	 	 
	Valex Holdings Limited
	 	Hong Kong
	 	Corporation
	 	10,000

	 	8,800 by Valex14
	 	 	 	 	 	 	 
	 	 
	Valex Korea Co., Ltd.
	 	Korea
	 	Corporation
	 	364,515

	 	364,515 
by Valex15
	 	 	 	 	 	 	 
	 	 
	Viking Materials, Inc.
	 	MN
	 	Corporation
	 	6,543
voting common
3,182.1
non-voting common

	 	6,543 
voting common 
by RSA
3,182.1
non-voting common
by RSA
	 	 	 	 	 	 	 
	 	 
	Yarde Metals, Inc.
	 	CT
	 	Corporation
	 	15,000

	 	15,000
by RSA

 

			
	1	 	All subsidiaries of RSAC Management Corp. (“RSAC”) became subsidiaries of Reliance
Steel & Aluminum Co. (“RSA”) as a result of the merger of RSAC into RSA effective as of
January 1, 2009. In addition, Lusk Metals merged with and into RSA effective July 1, 2009.
	 
	2	 	The membership interests of American Steel L.L.C. were contributed to American Metals
Corporation shortly before the entities were merged effective January 2, 2009.
	 
	3	 	AMI Metals, Inc. owns 90% of the outstanding equity interest of AMI Metals Europe
SPRL, a Belgium corporation, and RSA owns the remaining 10%.
	 
	4	 	Delta Steel L.P. was merged into a corporation to change the form of entity.
	 
	5	 	Encore Metals (USA), Inc. was merged into Earle M. Jorgensen Company (“EMJ”).

4

 

			
	6	 	Reliance Pan Pacific Pte. Ltd. (“RPP”) is a Singapore corporation that owns 100% of
the outstanding equity interest of Everest Metals (Suzhou) Co. Ltd., a corporation formed
under the laws of the People’s Republic of China. RSA owns 100% of the equity interest of
RPP.
	 
	7	 	Liebovich Bros., Inc. owns 100% of the outstanding common stock of LBT, Inc.
	 
	8	 	PNA Group Holding Corporation was merged with PNA Intermediate Holding Corporation,
which in turn was merged with PNA Group, Inc. (“PNA Group”). As a result of these mergers,
RSA owns all of the outstanding shares of PNA Group, which owns, directly or
indirectly all of the outstanding securities of the identified operating subsidiaries.
	 
	9	 	Precision Strip, Inc. owns 100% of the outstanding common stock of Precision Strip
Transport, Inc.
	 
	10	 	Reliance Asia Holding Pte. Ltd. (“RAH”) was formed as a holding company for certain
foreign subsidiaries and owns all of the outstanding common shares of Earle M. Jorgensen
(Asia) SDN. BHD. and Reliance Metalcenter Asia Pacific Pte. Ltd.
	 
	11	 	Reliance Metals Canada Limited (“RMCL”) was formed in connection with the merger of
Earle M. Jorgensen (Canada) Inc. and Encore Group Limited, both of which now operate as
divisions of RMCL. The outstanding share is owned by Earle M. Jorgensen Company as of January
1, 2009.
	 
	12	 	Dynamic Metals International L.L.C. was merged with and into Service Steel Aerospace
Corp. as of August 1, 2008.
	 
	13	 	Industrial Metals and Surplus, Inc. was merged with and into Siskin Steel & Supply
Company, Inc. as of December 31, 2007.
	 
	14	 	Valex Corp. owns approximately 88% of the outstanding shares of Valex Holdings
Limited. The remaining 12% of the shares is owned by a joint venture partner.
	 
	15	 	Valex Corp. owns 100% of the outstanding common stock of Valex Korea Co. Ltd., a
Korean corporation, but employees of Valex Korea Co., Ltd. hold options to acquire up to
approximately 1% of the outstanding common stock.

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]