Document:

exv10w1

Exhibit 10.1

     AMENDMENT TO SECOND AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT AND WAIVER dated as of
May 26, 2009 (this “Amendment and Waiver”) among CMC RECEIVABLES, INC. (the “Seller”), COMMERCIAL
METALS COMPANY (the “Servicer”), LIBERTY STREET FUNDING LLC (“Liberty”), GOTHAM FUNDING CORPORATION
(“Gotham”, and together with Liberty, the “Buyers”), THE BANK OF NOVA SCOTIA (“Scotia”), THE BANK
OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH (“BTMU”, and together with Scotia, the “Managing
Agents”) and THE BANK OF NOVA SCOTIA, as Administrative Agent (the “Administrative Agent”).

WITNESSETH:

     WHEREAS, the Seller, the Servicer, the Buyers, the Managing Agents and the Administrative
Agent are parties to a Second Amended and Restated Receivables Purchase Agreement dated as of April
30, 2008 (as from time to time amended prior to the date hereof, the “RPA”);

     WHEREAS, the parties desire to amend the RPA;

     NOW, THEREFORE, the parties agree as follows:

SECTION 1. DEFINITIONS

     Defined terms used herein and not defined herein shall have the meanings assigned to such
terms in the RPA.

SECTION 2. WAIVER OF TERMINATION EVENTS

     The Administrative Agent, the Managing Agents and the Buyers each hereby waive any Termination
Event arising under Section 10.01(r) of the RPA as a result of the average Default Ratio for the
three consecutive Accounting Periods ended April 30, 2009 exceeding 3%.

     The Administrative Agent, the Managing Agents and the Buyers each hereby waive any Termination
Event arising under Section 10.01(s) of the RPA as a result of the average Dilution Ratio for the
three consecutive Accounting Periods ended April 30, 2009 exceeding 5%.

     The limited waivers set forth in this Amendment and Waiver shall be effective only in the
specific instances and for the specific purposes for which expressly given herein and shall not be
deemed to apply to any other event or circumstance.

SECTION 3. AMENDMENT OF RPA

     The parties hereto agree that, effective as of May 26, 2009:

 

 

	 	(a)	 	The definition of “Commitment Termination Date” set forth in Section 1.01 of
the RPA shall be amended by replacing the date “May 26, 2009” set forth therein with
the date “June 12, 2009”.
	 
	 	(b)	 	The definition of “Expiration Date” set forth in Section 1.01 of the RPA shall
be amended by replacing the date “May 26, 2009” set forth therein with the date “June
12, 2009”.
	 
	 	(c)	 	The definition of “Reserve Period” set forth in Section 1.01 of the RPA shall
be amended by replacing the date “May 26, 2009” set forth therein with the date “June
12, 2009”.

SECTION 4. GOVERNING LAW

     THIS AMENDMENT AND WAIVER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK, WITHOUT REGARD TO ITS CONFLICTS OF LAWS RULES (OTHER THAN SECTION 5-1401 OF
NEW YORK’S GENERAL OBLIGATIONS LAW).

SECTION 5. EXECUTION IN COUNTERPARTS

     This Amendment and Waiver may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which, when so executed, shall be deemed to be an
original and all of which, when taken together, shall constitute one and the same Amendment and
Waiver. Delivery of an executed counterpart of a signature page to this Amendment and Waiver by
facsimile shall be effective as delivery of a manually executed counterpart of this Amendment and
Waiver.

SECTION 6. CONFIRMATION OF AGREEMENT

     Each of the parties to the RPA agree that, except as amended or waived hereby, the RPA
continues in full force and effect. The Seller and the Servicer hereby represent and warrant that,
after giving effect to the effectiveness of this Amendment and Waiver, their respective
representations and warranties contained in the RPA are true and correct in all material respects
upon and as of such effectiveness with the same force and effect as though made on and as of such
date (except to the extent that such representations and warranties relate solely to an earlier
date). All references in any Purchase Document to the RPA on and after the date hereof shall be
deemed to refer to the RPA as amended hereby.

[Signature Page Follows]

2

 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment and Waiver to be duly
executed by their authorized officers as of the day and year first above written.

	 	 	 	 	 	 	 	 	 	 	 
	CMC RECEIVABLES, INC.,

as Seller	 	 	 	COMMERCIAL METALS COMPANY,

as Servicer	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Louis Federle
	 	 	 	By:
	 	/s/ Murray R. McClean	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Name: Louis Federle
	 	 	 	 	 	Name: Murray R. McClean	 	 
	 

	 	Title:   Treasurer
	 	 	 	 	 	Title:   President and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	THE BANK OF NOVA SCOTIA,

as Managing Agent and Administrative Agent	 	 	 	LIBERTY STREET FUNDING LLC,

as Buyer	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Michael Eden
	 	 	 	By:
	 	/s/ Bernard J. Angelo	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Name: Michael Eden
	 	 	 	 	 	Name: Bernard J. Angelo	 	 
	 

	 	Title:   Director
	 	 	 	 	 	Title:   Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	THE BANK OF TOKYO-MITSUBISHI UFJ, 
LTD., NEW YORK BRANCH,

as Managing Agent	 	 	 	GOTHAM FUNDING CORPORATION,

as Buyer	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Aditya Reddy
	 	 	 	By:
	 	/s/ Louise E. Colby	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Name: Aditya Reddy
	 	 	 	 	 	Name: Louise E. Colby	 	 
	 

	 	Title:   VP and Manager
	 	 	 	 	 	Title:   Vice President	 	 

Signature Page to RPA Extension Amendment
May 2009

 

Acknowledged and Agreed to by:

	 	 	 	 	 	 	 	 	 	 	 
	STRUCTURAL METALS, INC., d/b/a

CMC STEEL TEXAS	 	 	 	SMI STEEL, INC., d/b/a

CMC STEEL ALABAMA	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Murray R. McClean
	 	 	 	By:
	 	/s/ Murray R. McClean	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Authorized Signatory
	 	 	 	 	 	Authorized Signatory	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	OWEN ELECTRIC STEEL COMPANY OF SOUTH

CAROLINA, d/b/a CMC

STEEL SOUTH CAROLINA	 	 	 	CMC STEEL FABRICATORS, INC.,

d/b/a CMC JOIST	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Murray R. McClean
	 	 	 	By:
	 	/s/ Murray R. McClean	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	Authorized Signatory
	 	 	 	 	 	Authorized Signatory	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	HOWELL METAL COMPANY,

d/b/a CMC HOWELL METAL	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Murray R. McClean	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	Authorized Signatory	 	 	 	 	 	 	 	 

Signature Page to RPA Extension Amendment
May 2009exv10w2

Exhibit 10.2

RESTRICTED STOCK UNIT AWARD AGREEMENT

COMMERCIAL METALS COMPANY

2006 LONG-TERM EQUITY INCENTIVE PLAN

Pursuant to the Commercial Metals Company 2006 Long-Term Equity Incentive Plan (the “Plan”) for
employees of Commercial Metals Company, a Delaware corporation (the “Company”) and its
Subsidiaries,

 

(the “Participant”)

has been granted a Restricted Stock Unit Award in accordance with Section 6.6 of the Plan.

     1. Terms of Award. The number of shares of Common Stock that may be delivered to the
Participant under this Award Agreement (this “Agreement”) is                      (the “Awarded Units”). The
Date of Grant of this Award is May      , 2009. Each Awarded Unit represents the right to receive
delivery of one share of the Company’s Common Stock as herein provided

     2. Subject to Plan. This Agreement is subject to the terms and conditions of the
Plan, and the terms of the Plan shall control to the extent not otherwise inconsistent with the
provisions of this Agreement. To the extent the terms of the Plan are inconsistent with the
provisions of this Agreement, this Agreement shall control. The capitalized terms used herein that
are defined in the Plan shall have the same meanings assigned to them in the Plan. This Agreement
is subject to any rules promulgated pursuant to the Plan by the Board or the Committee and
communicated to the Participant in writing.

     3. Vesting; Timing of Delivery of Shares. Except as specifically provided in this
Agreement and subject to certain restrictions and conditions set forth in the Plan, the Awarded
Units shall be vested as follows:

     a. All of the Awarded Units shall vest upon the following (i) for 20
consecutive Trading Days between the Date of Grant and May 19, 2012, the closing
price of the Common Stock on the Principal Market is at least $30 per share (as
adjusted during such period pursuant to Article 11 of the Plan) and the Company
ranks at or greater than the 50th percentile on a Total Stockholder Return basis as
compared to its Peer Group with the Total Stockholder Return being based on the
average of the closing prices on the Principal Market for each Trading Day for the
month of December 2008 versus the average of the closing prices on the Principal
Market for each Trading Day for the month of December 2011; or (ii) for 20
consecutive Trading Days between the Date of Grant and May 19, 2012, the closing
price of the Common Stock on the Principal Market is at least $24 per share (as
adjusted during such period pursuant to Article 11 of the Plan) and the Company
ranks at or greater than the 80th percentile on a Total Stockholder Return basis as
compared to its Peer Group with the Total Stockholder Return being based on the
average of the closing prices on the Principal Market for each Trading Day for the
month of December 2008 versus the average of the closing prices on the Principal
Market for each Trading Day for the month of December 2011.

     b. The determination of whether any vesting criteria have been met is to be made by the
Committee in a manner consistent with prior practice.

 

 

     c. For purposes of this Agreement, the following terms shall have the meanings set
forth below:

     “Peer Group” means the following companies: AK Steel Holding Corporation,
Allegheny Technologies Incorporated, Gerdau Ameristeel Corporation, Mueller
Industries, Inc., Nucor Corporation, Reliance Steel & Aluminum Co., Schnitzer Steel
Industries, Inc., Sims Metal Management Limited, Steel Dynamics, Inc., The Timken
Company, United States Steel Corporation, and Worthington Industries. If between
the Date of Grant and December 31, 2011, any member of the Peer Group for any reason
is no longer a public company with common stock listed for trading, then such member
shall not be considered a member of the Peer Group for any calculations related to
this Agreement. If at least 25% of the companies that constitute the original Peer
Group cease to be public companies with common stock listed for trading between the
Date of Grant and December 31, 2011, the Committee has the right to add additional
companies to the Peer Group; provided, however, the Peer Group shall not
consist of more than twelve companies.

     “Principal Market” means the New York Stock Exchange, or if the Common Stock is
not traded on the New York Stock Exchange, the NASDAQ Global Select Market, the
NASDAQ Global Market, the NASDAQ Capital Market, the NYSE AMEX or any successor
exchanges.

     “Total Stockholder Return” is a comparative valuation using a per share price
at the beginning of the period compared to a per share price at the end of the
period with cash dividends assumed to purchase additional fractional shares at the
closing price as of the ex-dividend date.

     “Trading Day” means any day on which the Common Stock is traded on the
Principal Market, or, if the Principal Market is not the principal trading market
for the Common Stock, then on the principal securities market on which the shares of
the Common Stock are then traded; provided that “Trading Day” shall not include any
day on which the shares of the Common Stock are scheduled to trade on such exchange
or market for less than 4.5 hours or any day that the shares of the Common Stock are
suspended from trading during the final hour of trading on such exchange or market
(or if such exchange or market does not designate in advance the closing time of
trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New
York, New York time).

     Notwithstanding the foregoing, the vesting of all Awarded Units shall automatically accelerate
in full upon (i) the Participant’s death; (ii) the Participant’s Termination of Service as a result
of his Total and Permanent Disability; or (iii) the occurrence of a Change in Control.

     Subject to the conditions hereinafter set forth, upon the vesting of Awarded Units, or as soon
as practical following vesting, and in no event, later than 60 days after vesting of Awarded Units,
the Company shall deliver to the Participant or the Participant’s personal representative a number
of shares of Common Stock equal to the aggregate number of vested Awarded Units credited to the
Participant. Shares of Common Stock shall only be delivered under this Section 3 if the
Participant or Participant’s personal representative has made appropriate arrangements with the
Company in accordance with Section 15.6 of the Plan for applicable taxes which are required to be
withheld under federal, state or local law or the tax withholding requirement has otherwise been
satisfied.

     4. Forfeiture of Awarded Units. Awarded Units that are not vested in accordance with
Section 3

 

 

shall be forfeited on the earlier of the date of the Participant’s Termination of
Service or May 19, 2012. Upon
forfeiture, all of the Participant’s rights with respect to the forfeited Awarded Units shall
cease and terminate, without any further obligations on the part of the Company.

     5. Restrictions on Awarded Units and Rights of a Stockholder. Awarded Units represent
a promise by the Company to deliver shares of Common Stock to the Participant upon the terms
provided herein. Awarded Units that are not vested in accordance with Section 3 and which
are subject to forfeiture in accordance with Section 4 shall be subject to the terms,
conditions, provisions, and limitations of this Section 5. The Participant will have no
rights as a stockholder (including, without limitation, the right to vote) except as specifically
provided in this Section 5, with respect to any shares of Common Stock covered by this
Agreement until the issuance of a certificate or certificates to the Participant for the shares.
Except as otherwise provided in Article 11 of the Plan, no adjustment shall be made for dividends
or other rights for which the record date is prior to the issuance of such certificate or
certificates. Subject to the provisions of the Plan and the other terms of this Agreement, from
the Date of Grant until the date shares of Common Stock are delivered to the Participant under the
Awarded Units (the “Restriction Period”), the Participant shall not be permitted to sell, transfer,
pledge or assign any of the Awarded Units or any shares of Common Stock that may be delivered under
the Awarded Units.

     6. Book Entry or Certificate Issuance of Shares and Legend. All shares of Common
Stock delivered under the Awarded Units shall be subject to the terms of this Agreement and shall
be represented by, at the option of the Company, either book entry registration in the Company’s
direct registration services (“DRS”) or by a certificate or certificates. All shares of Common
Stock delivered under the Awarded Units that are issued in certificate form shall bear the legend
first described below. All shares of Common Stock delivered under the Awarded Units that are
issued in book entry DRS form shall be subject to the same restrictions described in the legend
first described below.

     The following legend shall be placed on all certificates representing shares of Common Stock
delivered under Awarded Units:

On the face of the certificate, the following legend shall be inserted on a certificate
evidencing Common Stock issued under the Awarded Units if the shares were not issued in a
transaction registered under the applicable federal and state securities laws:

“Transfer of this stock is restricted in accordance with conditions
printed on the reverse of this certificate.”

On the reverse, the following legend shall be inserted on a certificate evidencing Common
Stock issued under the Awarded Units if the shares were not issued in a transaction
registered under the applicable federal and state securities laws:

“Shares of stock represented by this certificate have been acquired
by the holder for investment and not for resale, transfer or
distribution, have been issued pursuant to exemptions from the
registration requirements of applicable state and federal securities
laws, and may not be offered for sale, sold or transferred other
than pursuant to effective registration under such laws, or in
transactions otherwise in compliance with such laws, and upon
evidence satisfactory to the Company of compliance with such laws,
as to which the Company may rely upon an opinion of counsel
satisfactory to the Company.”

 

 

     All shares of Common Stock delivered under the Awarded Units that are owned by the Participant
shall be subject to the terms of this Agreement and, if the shares were not issued in a transaction
registered under the
applicable federal and state securities laws, shall be represented by a certificate or
certificates bearing the foregoing legend.

     7. Delivery of Certificates. Certificates for shares of Common Stock delivered under
Awarded Units shall be delivered to the Participant after, and only after, the Restriction Period
has expired without forfeiture pursuant to Section 4 by either delivery of certificated
shares or book entry DRS registration.

     8. Spouse Bound. The spouse of the Participant individually is bound by, and such
spouse’s interest, if any, in any Awarded Units is subject to, the terms of this Agreement.

     9. Specific Performance. The parties acknowledge that remedies at law will be
inadequate remedies for breach of this Agreement and consequently agree that this Agreement shall
be enforceable by specific performance. The remedy of specific performance shall be cumulative of
all of the rights and remedies at law or in equity of the parties under this Agreement.

     10. Participant’s Representations. Notwithstanding any of the provisions hereof, the
Participant hereby agrees that he will not acquire any shares of Common Stock, and that the Company
will not be obligated to issue any shares of Common Stock to the Participant hereunder, if the
issuance of such shares shall constitute a violation by the Participant or the Company of any
provision of any law or regulation of any governmental authority. Any determination in this
connection by the Company shall be final, binding, and conclusive. The obligations of the Company
and the rights of the Participant are subject to all applicable laws, rules, and regulations.

     11. Investment Representation. Unless the Common Stock is issued to him in a
transaction registered under applicable federal and state securities laws, by his execution hereof,
the Participant represents and warrants to the Company that all Common Stock which may be acquired
hereunder will be acquired by the Participant for investment purposes for his own account and not
with any intent for resale or distribution in violation of federal or state securities laws.
Unless the Common Stock is issued to him in a transaction registered under the applicable federal
and state securities laws, all certificates issued with respect to the Common Stock shall bear an
appropriate restrictive investment legend and shall be held indefinitely, unless they are
subsequently registered under the applicable federal and state securities laws or the Participant
obtains an opinion of counsel, in form and substance satisfactory to the Company and its counsel,
that such registration is not required.

     12. Participant’s Acknowledgments. The Participant acknowledges that a copy of the
Plan has been made available for his review by the Company, and represents that he is familiar with
the terms and provisions thereof, and hereby accepts this Award subject to all the terms and
provisions thereof. The Participant hereby agrees to accept as binding, conclusive, and final all
decisions or interpretations of the Committee or the Board, as appropriate, upon any questions
arising under the Plan or this Agreement.

     13. Law Governing; Venue. This Agreement shall be governed by, construed, and
enforced in accordance with the laws of the State of Texas (excluding any conflict of laws rule or
principle of Texas law that might refer the governance, construction, or interpretation of this
agreement to the laws of another state). Any action or proceeding seeking to enforce any provision
of, or based on any right arising out of, this Agreement shall be brought in the courts of the
State of Texas, County of Dallas, or, if it has or can acquire jurisdiction, in the United States
District Court for the Northern District of Texas, and each of the parties irrevocably submits to
the exclusive jurisdiction of each such court in any such proceeding, waives any objection it may
now or hereafter have to venue or convenience of forum, agrees that all claims in respect of

 

 

the
proceedings shall be heard and determined only in any such court and agrees not to bring any
proceeding arising out of or relating to this Agreement in any other court.

     14. No Right to Continue Service or Employment. Nothing herein shall be construed to
confer upon the Participant the right to continue in the employ of the Company or any Subsidiary,
or interfere with or restrict in any way the right of the Company or any Subsidiary to discharge
the Participant as an Employee at any time.

     15. Legal Construction. In the event that any one or more of the terms, provisions,
or agreements that are contained in this Agreement shall be held by a court of competent
jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason, the invalid,
illegal, or unenforceable term, provision, or agreement shall not affect any other term, provision,
or agreement that is contained in this Agreement and this Agreement shall be construed in all
respects as if the invalid, illegal, or unenforceable term, provision, or agreement had never been
contained herein.

     16. Covenants and Agreements as Independent Agreements. Each of the covenants and
agreements that are set forth in this Agreement shall be construed as a covenant and agreement
independent of any other provision of this Agreement. The existence of any claim or cause of
action of the Participant against the Company, whether predicated on this Agreement or otherwise,
shall not constitute a defense to the enforcement by the Company of the covenants and agreements
that are set forth in this Agreement.

     17. Entire Agreement. This Agreement together with the Plan supersede any and all
other prior understandings and agreements, either oral or in writing, between the parties with
respect to the subject matter hereof and constitute the sole and only agreements between the
parties with respect to the said subject matter. All prior negotiations and agreements between the
parties with respect to the subject matter hereof are merged into this Agreement. Each party to
this Agreement acknowledges that no representations, inducements, promises, or agreements, oral or
otherwise, have been made by any party or by anyone acting on behalf of any party, which are not
embodied in this Agreement or the Plan and that any agreement, statement or promise that is not
contained in this Agreement or the Plan shall not be valid or binding or of any force or effect.

     18. Parties Bound. The terms, provisions, and agreements that are contained in this
Agreement shall apply to, be binding upon, and inure to the benefit of the parties and their
respective heirs, executors, administrators, legal representatives, and permitted successors and
assigns, subject to the limitation on assignment expressly set forth herein. No person or entity
shall be permitted to acquire any Awarded Units without first executing and delivering an agreement
in the form satisfactory to the Company making such person or entity subject to the restrictions on
transfer contained in Section 5 hereof.

     19. Modification. No change or modification of this Agreement shall be valid or
binding upon the parties unless the change or modification is in writing and signed by the parties;
provided, however, that the Company may change or modify the terms of this Agreement without the
Participant’s consent or signature if the Company determines, in its sole discretion, that such
change or modification is necessary for purposes of compliance with or exemption from the
requirements of Section 409A of the Code or any regulations or other guidance issued thereunder.
Notwithstanding the preceding sentence, the Company may amend the Plan or revoke the Awarded Units
to the extent permitted by the Plan.

     20. Headings. The headings that are used in this Agreement are used for reference and
convenience purposes only and do not constitute substantive matters to be considered in construing
the terms and provisions of this Agreement.

 

 

     21. Gender and Number. Words of any gender used in this Agreement shall be held and
construed to include any other gender, and words in the singular number shall be held to include
the plural, and vice versa, unless the context requires otherwise.

     22. Notice. Any notice required or permitted to be delivered hereunder shall be
deemed to be delivered only when actually received by the Company or by the Participant, as the
case may be, at the addresses set forth below, or at such other addresses as they have theretofore
specified by written notice delivered in accordance herewith:

     a. Notice to the Company shall be addressed and delivered as follows:

Commercial Metals Company

6565 N. MacArthur Blvd., Suite 800

Irving, TX 75039

Attention: General Counsel

Facsimile: (214) 689-4326

     b. Notice to the Participant shall be addressed and delivered as set forth on the
signature page.

     23. Tax Requirements. The Participant is hereby advised to consult immediately with
his own tax advisor regarding the tax consequences of this Agreement. The Company or, if
applicable, any Subsidiary (for purposes of this Section 23 the term “Company” shall be
deemed to include any applicable Subsidiary), shall have the right to deduct from all amounts paid
in cash or other form in connection with the Plan, any Federal, state, local, or other taxes
required by law to be withheld in connection with this Award. The Company may, in its sole
discretion, also require the Participant receiving shares of Common Stock issued under the Plan to
pay the Company the amount of any taxes that the Company is required to withhold in connection with
the Participant’s income arising with respect to this Award. Such payments shall be required to be
made when requested by Company and may be required to be made prior to the delivery of any
certificate representing shares of Common Stock. Such payment may be made at the election of the
Participant (i) by the delivery of cash to the Company in an amount that equals (or exceeds, to the
extent necessary to avoid the issuance of fractional shares under (iii) below) the required tax
withholding obligations of the Company; (ii) if the Company, in its sole discretion, so consents in
writing, the actual delivery by the Participant to the Company of shares of Common Stock that the
Participant has not acquired from the Company within six (6) months prior thereto, which shares so
delivered have an aggregate Fair Market Value that equals or exceeds (to avoid the issuance of
fractional shares under (iii) below) the required tax withholding payment; (iii) if the Company, in
its sole discretion, so consents in writing, the Company’s withholding of a number of shares to be
delivered upon the vesting of this Award, which shares so withheld have an aggregate Fair Market
Value that equals (but does not exceed) the required tax withholding payment (the “Share Retention
Method”); or (iv) any combination of (i), (ii), or (iii). Notwithstanding anything else in the
Plan or this Agreement to the contrary, if the Participant is subject to Section 16 of the
Securities Exchange Act of 1934, he shall satisfy such withholding obligation under this
Section 23 by the Share Retention Method, and neither the Company nor the Committee shall
have any discretion to permit the satisfaction of such withholding obligation by any other means.

 

 

     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Participant, to evidence his consent and approval of all the terms
hereof, has duly executed this Agreement, as of the date specified in Section 1 hereof.

	 	 	 	 	 
	 	COMPANY:

COMMERCIAL METALS COMPANY

 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	PARTICIPANT:

 	 
	 	
 	 
	 	Signature 	 
	 
	 	Name:
 	 	 
	 	
Address:

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