Document:

Exhibit

                                                                                        Execution Version
SEVENTH AMENDMENT TO 
FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
This SEVENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT, dated as of October 22, 2019 (this “Amendment”), is by and among Commercial Metals Company, a Delaware corporation (the “Company”), CMC International Finance S.à r.l., a company organized and existing under the laws of Luxembourg as a société à responsabilité limitée (the “Foreign Borrower”) (the Company, together with the Foreign Borrower, collectively, the “Borrowers”), the lending institutions party hereto and Bank of America, N.A., as administrative agent (the “Administrative Agent”) for itself and the other Lenders party to that certain Credit Agreement, dated as of June 26, 2014 (as amended, supplemented, and restated or otherwise modified and in effect from time to time, the “Credit Agreement”), by and among the Borrowers, the lending institutions party thereto (the “Lenders”) and the Administrative Agent.  Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Credit Agreement.
WHEREAS, the Borrowers have requested that the Lenders amend the Credit Agreement to make certain revisions to the terms and conditions of the Credit Agreement as specifically set forth in this Amendment.
NOW THEREFORE, in consideration of the foregoing premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Borrowers, the Lenders and the Administrative Agent hereby agree as follows:
§1.Amendments to Credit Agreement.
(a)Section 1.01 of the Credit Agreement is hereby amended by adding the following defined terms thereto in proper alphabetical order to read as follows:
“Covered Party” has the meaning specified in Section 11.29.
“QFC Credit Support” has the meaning specified in Section 11.29.
“Supported QFC” has the meaning specified in Section 11.29.
“U.S. Special Resolution Regimes” has the meaning specified in Section 11.29.
(b)    The definition of “Arrangers” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated to read as follows:
“Arrangers” means BofA Securities, Inc., Wells Fargo Bank, National Association, PNC Bank, National Association and Citibank, N.A., each in their capacity as a joint lead arranger and joint book manager.

SEVENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT – Page 1

(c)    The definition of “Funded Debt” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated to read as follows:
“Funded Debt” of any Person means, as of the date of determination and without duplication (a) all Indebtedness of such Person for borrowed money (other than any Receivables Facility Attributed Indebtedness of such Person) or which has been incurred in connection with the acquisition of plant, property and equipment, (b) all Capitalized Rentals of such Person, and (c) all Guaranties by such Person of Funded Debt of others.  For the avoidance of doubt, Receivables Facility Attributed Indebtedness of any Person shall not be included as Funded Debt of such Person.
(d)    The definition of “Related Parties” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated to read as follows:
“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors, consultants, service providers and representatives of such Person and of such Person’s Affiliates.
(e)    The reference to “Revolving Lender” in Section 2.05(a)(i) and Section 2.12(a) shall be amended to refer to “Revolving Credit Lender”.
(f)    The definition of “S&P” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated to read as follows:
“S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and any successor thereto.
(g)    Clause (a) of Section 1.03 of the Credit Agreement is hereby amended and restated to read as follows:
(a)    Generally.  All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except (i) for changes in the method of inventory accounting prepared in conformity with GAAP and (ii) as otherwise specifically prescribed herein.  Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, (i) Indebtedness of the Company and its consolidated Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 on financial liabilities shall be disregarded, and (ii) all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made, without giving effect to any election under FASB ASC Topic 825 “Financial Instruments” (or any other financial accounting standard having a 

SEVENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT – Page 2

similar result or effect) to value any Indebtedness of the Company or any Subsidiary at “fair value”, as defined therein. For purposes of determining the amount of any outstanding Indebtedness, no effect shall be given to (x) any election by the Company to measure an item of Indebtedness using fair value (as permitted by Financial Accounting Standards Board Accounting Standards Codification 825–10–25 (formerly known as FASB 159) or any similar accounting standard) or (y) any change in accounting for leases pursuant to GAAP resulting from the implementation of Financial Accounting Standards Board ASU No. 2016–02, Leases (Topic 842), to the extent such adoption would require recognition of a lease liability where such lease (or similar arrangement) would not have required a lease liability under GAAP as in effect on December 31, 2015.
(h)    Clause (b) of Section 1.03 of the Credit Agreement is hereby amended and restated to read as follows:
(b)    Changes in GAAP.  If at any time any change in GAAP (including the adoption of IFRS) would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Company or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Company shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Company shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Audited Financial Statements dated August 31, 2016 for all purposes of this Agreement notwithstanding any change in GAAP related thereto.
(i)    Section 1.02 of the Credit Agreement is hereby amended by adding a new subsection (e) thereto to read as follows:
(e)    Any reference herein to a merger, transfer, consolidation, amalgamation, assignment, sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of assets to a series of a limited liability company (or the unwinding of such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, assignment, sale, disposition or transfer, or similar term, as applicable, to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a Person or entity).

SEVENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT – Page 3

(j)    Clause (c) of Section 1.05 of the Credit Agreement is hereby amended and restated to read as follows:
(c)    The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “Eurocurrency Rate” or with respect to rate that is an alternative or replacement for or successor to any of such rate (including, without limitation, any LIBOR Successor Rate) or the effect of any of the foregoing, or of any LIBOR Successor Rate Conforming Changes.
(k)    Section 2.16 of the Credit Agreement is hereby amended by adding a new subsection (c) thereto to read as follows:
(c)    New Swing Line Loans/Letters of Credit. So long as any Revolving Credit Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan (and, for the avoidance of doubt, after giving effect to any reallocation described in Section 2.16(a)(iv) above) and (ii) no L/C Issuer shall be required to issue, extend, increase, reinstate or renew any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.
(l)    Article XI of the Credit Agreement is hereby amended by adding a new Section 11.29 thereto to read as follows:
11.29.  Acknowledgement Regarding Any Supported QFCs.  To the extent that the Loan Documents provide support, through a guarantee or otherwise, for any Swap Contract or any other agreement or instrument that is a QFC (such support, “QFC Credit Support”, and each such QFC, a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 
(a)    In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation 

SEVENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT – Page 4

and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.  
(b)    As used in this Section 11.29, the following terms have the following meanings:
“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.
“Covered Entity” means any of the following:  (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).
“Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.
“QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).
§2.    Conditions to Effectiveness.  This Amendment shall become effective as of the date set forth above upon the satisfaction of the following conditions:
(a)    the Administrative Agent shall have received a counterpart signature page to this Amendment, duly executed and delivered by the Borrowers, each Guarantor and the Required Lenders; 
(b)    the Administrative Agent shall have received a (i) certified resolution of the Company authorizing the execution, delivery and performance of this Amendment, and (ii) a certified resolution of the Foreign Borrower authorizing the execution, delivery and performance of this Amendment;
(c)    the Administrative Agent shall have received all invoiced out of pocket fees and expenses due and owing in connection with this Amendment; 

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(d)    the Borrowers shall have paid all reasonable invoiced fees and expenses of the Administrative Agent’s counsel, Greenberg Traurig LLP; and
(e)    the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent and its counsel, such other documents, certificates and instruments as the Administrative Agent shall reasonably require.
§3.    Representations and Warranties.  The Borrowers represent and warrant to the Administrative Agent and the Lenders as follows:
(a)    the representations and warranties contained in Article V of the Credit Agreement and the other Loan Documents are true and correct in all material respects (except that a representation or warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) on and as of the date of this Amendment, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except that any representation or warranty that is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects) as of such earlier date, and except that the representations contained in Section 5.05(a) of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to Section 6.01(a) of the Credit Agreement, respectively;
(b)    no event has occurred and is continuing which constitutes a Default or an Event of Default;
(c)    (i) the Borrowers have full power and authority to execute and deliver this Amendment and (ii) this Amendment has been duly executed and delivered by the Company and the Foreign Borrower, as the case may be, and (iii) this Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and binding obligations of the Company and the Foreign Borrower, as the case may be, enforceable in accordance with their respective terms, except as enforceability may be limited by applicable Debtor Relief Laws and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law);
(d)    neither the execution, delivery and performance of this Amendment or the Credit Agreement, as amended hereby, nor the consummation of any transactions contemplated herein or therein, will violate any Law or conflict with any Organization Documents of either Borrower, or any indenture, agreement or other instrument to which either Borrower or any of its property is subject; and
(e)    no authorization, approval, consent, or other action by, notice to, or filing with, any Governmental Authority or other Person not previously obtained is required for (i) the execution, delivery or performance by either Borrower of this Amendment or (ii) the acknowledgement by any Guarantor of this Amendment.
§4.    No Other Amendments, etc.  Except as expressly provided in this Amendment, (a) all of the terms and conditions of the Credit Agreement and the other Loan Documents (as amended and restated in connection herewith, if applicable) remain unchanged, and (b) all of the terms and conditions of the Credit Agreement, as amended hereby, and of the other Loan Documents 

SEVENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT – Page 6

(as amended and restated in connection herewith, if applicable) are hereby ratified and confirmed and remain in full force and effect.  Nothing herein shall be construed to be an amendment, consent or a waiver of any requirements of the Borrowers, or of any other Person under the Credit Agreement or any of the other Loan Documents except as expressly set forth herein or pursuant to a written agreement executed in connection herewith.  Nothing in this Amendment shall be construed to imply any willingness on the part of the Administrative Agent or any Lender to grant any similar or future amendment, consent or waiver of any of the terms and conditions of the Credit Agreement or the other Loan Documents.
§5.    Guarantor’s Acknowledgment.  By signing below, each Guarantor (a) acknowledges, consents and agrees to the execution, delivery and performance by the Borrowers of this Amendment, (b) acknowledges and agrees that its obligations in respect of its Domestic Guaranty or Foreign Guaranty, as applicable, are not released, diminished, waived or modified, impaired or affected in any manner by this Amendment or any of the provisions contemplated herein, (c) ratifies and confirms its obligations under its Domestic Guaranty or Foreign Guaranty, as applicable, and (d) acknowledges and agrees that it has no claims or offsets against, or defenses or counterclaims to, its Domestic Guaranty or Foreign Guaranty, as applicable.
§6.    Reference to the Credit Agreement.
(a)    Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, or words of like import shall mean and be a reference to the Credit Agreement, as modified hereby.  This Amendment shall be a Loan Document.
(b)    The Credit Agreement, as modified herein, shall remain in full force and effect and is hereby ratified and confirmed.
§7.    Costs, Expenses and Taxes.  The Company agrees to pay on demand all costs and expenses of the Administrative Agent in connection with the preparation, reproduction, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder (including the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto).
§8.    Execution in Counterparts.  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 to be an original and all of which when taken together shall constitute but one and the same instrument.  For purposes of this Amendment, a counterpart hereof (or signature page thereto) signed and transmitted by any Person party hereto to the Administrative Agent (or its counsel) by facsimile or other electronic imaging means (e.g., “pdf” or “tif”) is to be treated as an original.  The signature of such Person thereon, for purposes hereof, is to be considered as an original signature, and the counterpart (or signature page thereto) so transmitted is to be considered to have the same binding effect as an original signature on an original document.
§9.    Governing Law; Binding Effect.  This Amendment shall be deemed to be a contract made under and governed by and continued in accordance with the internal laws of the State of Texas applicable to agreements made and to be performed entirely within such state, provided that each party shall retain all rights arising under federal law.  This Amendment shall be binding upon 

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the parties hereto and their respective successors and assigns.  The provisions of Section 11.15 of the Credit Agreement are incorporated herein mutatis mutandis.
§10.    Headings.  Section 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.
§11.    ENTIRE AGREEMENT.  THE CREDIT AGREEMENT, AS AMENDED BY THIS AMENDMENT, AND THE OTHER LOAN DOCUMENTS, REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

[Remainder of Page Intentionally Left Blank]

SEVENTH AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT – Page 8

IN WITNESS WHEREOF, the undersigned have duly executed this Amendment as of the date first set forth above.
COMMERCIAL METALS COMPANY, 
as Borrower 
 
 
By: /s/ Paul Lawrence     
    Name:  Paul Lawrence 
    Title:    Treasurer and Vice President 
    Financial Planning and Analysis 

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

CMC INTERNATIONAL FINANCE, S.Á R.L., 
as Borrower 
 
 
By: /s/ Nathan B. Kraus      
    Name:  Nathan B. Kraus 
    Title:     Class B Manager 

By: /s/ Peter Jan van der Meer     
    Name:  Pieter Jan van der Meer 
    Title:    Class A Manager

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

BANK OF AMERICA, N.A., 
as Administrative Agent 
 
 
By: /s/ Melissa Mullis     
    Name:   Melissa Mullis
    Title:     Assistant Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

BANK OF AMERICA, N.A., 
as a Lender, an L/C Issuer and Swing Line Lender 
 
 
By: /s/ Scott Blackman     
    Name:  Scott Blackman 
    Title:     SVP

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

CITIBANK, N.A., 
as a Lender and an L/C Issuer 
 
 
By: /s/ Brad Peters     
    Name:  Brad Peters
    Title:    Director

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender 
 
 
By: /s/ Jonathan D. Beck     
    Name:  Jonathan D. Beck 
    Title:    Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

BBVA USA f/k/a COMPASS BANK, 
as a Lender 
 
 
 
By: /s/ Raj Nambiar     
    Name: Raj Nambiar
    Title:   Sr. Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

PNC BANK, NATIONAL ASSOCIATION, 
as a Lender 
 
 
By: /s/ Joseph McElhinny     
    Name:  Joseph McElhinny 
    Title:    Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

COŐPERATIEVE RABOBANK U.A., NEW YORK BRANCH, 
as a Lender 
 
 
By: /s/ Paul Moisselin     
    Name:  Paul Moisselin
    Title:    Executive Director
 
 
By: /s/ Gabrielle Rossi     
    Name:  Gabrielle Rossi
    Title:    Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

BRANCH BANKING AND TRUST COMPANY, 
as a Lender 

 
By: /s/ Jim Wright     
    Name:  Jim Wright 
    Title:    Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

BMO HARRIS BANK N.A., 
as a Lender 

 
 
By: /s/ Jason Deegan     
    Name:  Jason Deegan
    Title:    Director

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

SANTANDER BANK, N.A., 
as a Lender 
 
 
 
By:    /s/ Carolina Gutierrez     
    Name:  Carolina Gutierrez 
    Title:    Vice President
By:    /s/ Zara Kamal     
    Name:  Zara Kamal
    Title:    Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

U.S. BANK NATIONAL ASSOCIATION, 
as a Lender 

 
 
By: /s/ Jonathan F. Lindvall     
    Name:  Jonathan F. Lindvall 
    Title:    Senior Vice President

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

CAPITAL ONE, NATIONAL ASSOCIATION, 
as a Lender 

 
 
By: /s/ Neha Shah     
    Name:  Neha Shah
    Title:    Duly Authorized Signatory

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

FIFTH THIRD BANK, 
as a Lender 

 
 
By: /s/ Justin Brauer     
    Name:  Justin Brauer 
    Title:    Director

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit Agreement

ACKNOWLEDGED AND AGREED:

STRUCTURAL METALS, INC.
C M C STEEL FABRICATORS, INC.
SMI STEEL LLC
OWEN ELECTRIC STEEL COMPANY OF 
SOUTH CAROLINA
SMI-OWEN STEEL COMPANY, INC.
OWEN INDUSTRIAL PRODUCTS, INC.
CMC STEEL OKLAHOMA, LLC
CMC STEEL US, LLC
CMC REBAR WEST

By:     /s/ Paul Lawrence            
Name:     Paul Lawrence
Title:     Treasurer

CMC GH, LLC

By:     /s/ Paul Kirkpatrick            
Name:     Paul Kirkpatrick
Title:     Secretary

CMC POLAND SP. Z O.O.

By:     /s/ Jerzy Kozicz            
Name:  Jerzy Kozicz
Title:    President of the Management Board    

By:     /s/ Tomasz Flak            
Name:  Tomasz Flak
Title:    Member of the Management Board    

Signature Page to Seventh Amendment to Fourth Amended and Restated Credit AgreementExhibit

Execution Copy

TERMS AND CONDITIONS OF STOCK AWARD, EMPLOYMENT AND SEPARATION

These Terms and Conditions of Stock Award, Employment and Separation (the "Agreement") is entered into this 13th day of August, 2019 by and between COMMERCIAL METALS COMPANY, a Delaware corporation (the "Employer” or the "Company") and PAUL J. LAWRENCE (the "Executive"). The Employer and Executive are collectively referred to as the "Parties," and individually as a "Party."
R E C I T A L S

WHEREAS, as a condition to eligibility for receiving stock awards, to set terms of their continuing employment relationship, and to protect the good will and confidential business information of the Company, the Executive and the Company desire to enter into this Agreement on the terms stated herein.

WHEREAS, Executive desires to be employed by Employer in this position pursuant to all of the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is agreed as follows:

1.    PURPOSE. The purpose of this Agreement is to formalize the terms and conditions of Executive's employment with Employer as Vice President and Chief Financial Officer effective as of September I, 2019.   This Agreement may only be amended by a writing signed by both Parties.

2.    DEFINITIONS.  For the purposes of this Agreement, the following words and terms shall have the following meanings:

a.    "AFFILIATE" or   "AFFILIATES"   shall    mean    any    corporation, partnership, joint venture, association, unincorporated organization or any other legal entity that, directly or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the Employer.

b.    "CAUSE" shall mean (i) Executive's  commission of theft, embezzlement, fraud, financial impropriety, any other act of dishonesty relating to his employment  with the Company, or any willful violation of Company policies (including the Company's ethics policies) or lawful directives of the Company, or any law, rules, or regulations applicable to the Company, including, but not limited to, those established by the Securities and Exchange Commission, or any self-regulatory organization  having jurisdiction or authority over Executive or the Company or any willful failure by Executive to inform the Company of any violation of any law, rule or regulation by the Company or one of its direct or indirect subsidiaries,   provided, however, that Cause shall not include any act or omission of Executive that the Executive reasonably believes is not a violation of any such policies, directives, law, rules or regulations  based on the advice of legal counsel for the Company; (ii) Executive's willful commission of acts that would support the finding of a felony or any lesser crime having as its predicate element fraud, dishonesty, misappropriation, or moral turpitude; (iii) Executive's failure to perform his duties and obligations under this Agreement (other than during any period of disability) which failure to perform is not remedied  within  thirty  (30)  days  after  written  notice  thereof  to  the  Executive  by  the  Chief Executive  Officer  of  the Company; or  (iv) Executive's  commission  of an act  or  acts  in  the performance of his duties 

under this Agreement amounting to gross negligence or willful misconduct, including, but not limited to, any breach of Section 8 of this Agreement.

c.    CONFIDENTIAL INFORMATION.      During the   course   of   his employment, Executive will receive Confidential Information of the Company.   Confidential Information means information (1) disclosed to or known by Executive as a consequence of or through his employment with Employer or Affiliate; and (2) which relates to any aspect of Employer's   or Affiliate’s   business, research, or development.  "Confidential  Information" includes, but is not limited to, Employer's and Affiliate's trade secrets, proprietary information, business plans, marketing plans, financial information, employee performance, compensation and benefit information, cost and pricing information, identity and information pertaining to customers, suppliers and vendors, and their purchasing history with Employer, any business or technical information, design, process, procedure, formula, improvement, or any portion or phase thereof, that is owned by or has, at the time of termination, been used by the Employer, any information related to the development of products and production processes, any information concerning proposed new products and production processes, any information concerning marketing processes, market feasibility studies, cost data, profit plans, capital plans and proposed or existing marketing techniques or plans, financial information, including, without limitation, information set forth in internal records, files and ledgers, or incorporated in profit and loss statements, fiscal reports, business plans or other financial or business reports, and information provided to Employer or Affiliate by a third party under restrictions against disclosure or use by Employer or others.

d.    "CONFLICT OF INTEREST"  means  any  situation   in  which  the Executive has two or more duties or interests that are mutually incompatible and may tend to conflict with the proper and impartial discharge of the Executive's duties, responsibilities or obligations to Employer, including but not limited to those described in Employer's Code of Conduct (the "Code") that Executive has either not disclosed to Employer or has disclosed and not been granted a waiver by the Audit Committee of the Board of Directors of Employer under the provisions of such Code.

e.    "GOOD REASON” shall mean the occurrence, without Executive’s written consent, of a breach of any material provision of this Agreement by Employer.

Executive shall give Employer written notice within the guidelines of Section 409A of the Internal Revenue Code of 1986, as amended (the ''IRC") of an intent to terminate this Agreement for "Good Reason" as defined in this Agreement, and (except as set forth above) provide Employer with thirty (30) business days after receipt of such written notice from Executive to remedy the alleged Good Reason.

3.    DURATION. This Agreement shall, unless terminated as hereinafter provided, continue through August 31, 2020.  Unless Executive or Employer gives written notice of his or its intent not to renew this Agreement no later than thirty (30) days prior to its expiration, this Agreement shall automatically continue in effect for successive additional one (1) year terms subject to all other terms and conditions contained herein.

4.    DUTIES AND RESPONSIBILITIES. Effective September 1, 2019, Executive shall diligently render his services to Employer as Vice President and Chief Financial Officer in accordance with Employer’s directives, and shall use his best efforts and good faith in

2

accomplishing such directives.  Executive shall report to the Chairman of the Board of Directors of the Company, Chief Executive Officer and President of the Company as approved from time to time by the Board of Directors of the Company.  Executive agrees to devote his full-time efforts, abilities, and attention (defined to mean not normally less than forty (40) hours/week) to the business of Employer, and shall not engage in any activities which will interfere with such efforts.

5.    COMPENSATION AND BENEFITS. In return for the services to be provided by Executive pursuant to this Agreement, Employer agrees to pay Executive as follows:

a.    SALARY. Effective September 1, 2019, Executive shall receive an annual base salary of not less than $550,000.00 during the term of this Agreement.   This salary may be increased at the sole discretion of Employer, and may not be decreased without Executive's written consent.  Notwithstanding the foregoing, the Executive may voluntarily decrease his salary at any time.

b.    BONUS.  Executive shall be eligible to receive a bonus (the "Bonus”) for each fiscal year of Employer ending August 31 during the term of this Agreement pursuant to Employer's 2013 Cash Incentive Plan, as amended from time to time, Employer's discretionary incentive plan, and any other short or long-term incentive plans as may be applicable to executives of similar level in the Company. The amount of any annual or long-term bonus shall be determined by, and in the sole discretion of, Employer's Board of Directors. The Bonus, if any, shall be paid in a lump sum, as soon as practicable following the end of the Employer's fiscal year to which the Bonus relates, but in no event later than November 30 following the end of such fiscal year.

c.    PAYMENT AND REIMBURSEMENT OF EXPENSES.  Employer shall pay or reimburse the Executive for all reasonable travel and other expenses incurred by Executive in performing his obligations under this Agreement in accordance with the policies and procedures of Employer.

d.    INSURANCE, FRINGE BENEFITS AND PERQUISITES.  Executive shall  be entitled  to participate in or receive insurance and any other benefits under any plan or arrangement  generally  made  available  to  the  employees  or  executive  officers  of  Employer, including short and long-term plans for grants of equity, short and long-term bonus and incentive plans, health and welfare benefit plans, life insurance coverage, disability insurance, and hospital, surgical,  medical, and dental benefits for Executive and his qualified dependents, (to the extent Executive elects to participate in such coverage where optional), and fringe benefit plans or arrangements, all subject to and on a basis consistent with the terms, conditions, and overall administration  by Employer of such plans and arrangements.

e.    VACATION. In accordance with the policies of Employer, Executive shall be entitled to the number of paid vacation days in each employment year determined by Employer from time to time for its employees generally, but not fewer than twenty (20) business days in any employment year (prorated based on start date of employment in any year in which Executive is employed hereunder for less than the entire year in accordance with the number of days in such year during which Executive is so employed).

f.    EXECUTIVE EMPLOYEE CONTINUITY AGREEMENT. Executive and Employer are party to a separate agreement known as The Executive Employee Continuity Agreement (the "EECA").  The EECA remains in effect and is not superseded by this Agreement.

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Except as to restrictive covenants, to the extent that there are conflicts between this Agreement and the EECA, terms of the EECA shall control.    As to restrictive covenants, terms of this Agreement shall control over any conflict in terms.

6.    TERMINATION. Executive’s employment with Employer is "at-will”, meaning that either Party may terminate this Agreement and the employment relationship at any time, with or without Cause, or Good Reason.  Any termination of Executive's employment pursuant to this Agreement will also serve as termination of all offices, positions and directorships held by Executive with the Company and any of its subsidiaries and affiliates. Executive's employment will terminate upon his death, or if he is unable to perform the functions of his position with reasonable accommodation for four (4) consecutive months, or for a total of six (6) months during any twelve (12) month period.   Employer may terminate Executive’s employment at any time without notice for Cause (in accordance with the provisions of Section 2(b) herein), or, following fourteen (14) days written notice to Executive, without Cause.

a.    Executive may terminate his employment upon ninety (90) days written notice to Employer.   In the event Executive terminates his employment in this manner, he shall remain in Employer's employ subject to all terms and conditions of this Agreement for the entire ninety (90) day period, performing such duties to which Executive may be directed by the Company.

b.    Executive may terminate this Agreement for Good Reason in accordance with the provisions of Section 2(e) herein.

7.    SEVERANCE. Except in the event of a Qualified Termination within twenty-four (24)  months following a Change in Control, as both are defined in the Executive  Employment Continuity  Agreement,  and  which are governed exclusively  by the  EECA, Executive  shall  be entitled to the following compensation, in addition to any accrued but unpaid salary, in the event that this Agreement and his employment are terminated under the following conditions, which are the exclusive compensation and remedies for termination of this Agreement and the employment relationship:

a.    TERMINATION RESULTING FROM DEATH OR DISABILITY. Subject to the provisions of Section 7(d) below, in the event Executive's employment is terminated as a result of his death or disability, Executive or his estate shall be entitled to (i) such life insurance or disability  benefits as Executive may be entitled to pursuant to any life or disability  insurance then maintained  by the Employer for the benefit of its employees and executive officers and; (ii) a pro-rata share of the Bonus in an amount as determined  by Employer's Board of Directors in their sole discretion, payable no later than November 30 following  the end of Employer's fiscal year during which such termination occurs; (iii) pursuant to the terms and conditions of the Employer's 2013 Cash Incentive Plan, as amended from time to time, payment, at such time as all other participants in that plan receive payment, of any cash incentive attributable to periods during which  Executive  was employed;  (iv)  to the extent  permitted  by the terms  and conditions  of Employer's 2013 Long-Term Equity Incentive Plan, as amended from time to time, or other applicable equity incentive plan(s) and to the extent authorized by the terms of each of Executive's outstanding award or grant agreements entered into pursuant to such plan(s), immediate vesting of all stock appreciation  rights, restricted stock, and/or stock options previously awarded Executive; and (v) to the extent  permitted  by the  terms and conditions  of  the CMC  Retirement  Plan, as amended from time to time, and 2005 Benefit Restoration  Plan, as amended from time to time, maintained by the Employer, crediting of any Employer contribution to the Executive's account attributable to the plan year during which termination occurs and accelerated full vesting of any previously unvested Employer contributions to the Executive's account in such plans. Except as otherwise provided 

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by this Section 7(a) or Section 7(d) below, any amount payable pursuant to this Section 7(a) shall be paid on the 60th day following Executive’s termination due to Executive’s death or disability.

b.    TERMINATION WITHOUT CAUSE BY EMPLOYER, NON- RENEWAL BY EMPLOYER, OR FOR GOOD REASON BY EXECUTIVE. Except in the event of a Constructive  Termination  related to a Change of Control (as both terms are defined in the Executive Employment Continuity Agreement between the parties), in the event Executive's employment is terminated without Cause by the Employer, or for Good Reason by the Executive, or the Employer elects not to renew the Agreement pursuant to Section 3 either at the end of the initial term or any successive  one-year extension, subject to Executive's execution of a general release agreement in favor of Employer releasing all pending or potential claims, Executive shall be entitled  to: (i) an amount equal to two times the Executive's then-current annual base salary and (ii) the benefits described above in Section 7(a)(v).   If Executive elects not to renew this Agreement, except for Good Reason, then he shall be entitled only to any accrued but unpaid salary through the date of such termination.  Except as otherwise provided by Section 7(d) below, any amount payable pursuant to this Section 7(b) shall be paid on the 60th day following Executive's termination.

c.    TERMINATION FOR CAUSE.  In the event Executive's employment is terminated for Cause by Employer or without Good Reason by Executive, the Executive shall only be entitled to accrued but unpaid salary through the date of his termination and will not be entitled to any additional compensation or benefits except as expressly required by applicable law concerning compensation and benefits upon termination of employment.

d.    DELAY OF SEVERANCE PAYMENTS.  To the extent  that any post- termination   payments  to  which  Executive  becomes  entitled  under  this  Agreement  constitute deferred compensation subject to Section 409A of the Internal Revenue Code (IRC), and Executive is deemed at the time of such termination to be a "specified employee" under said Section 409A, then such payment will not be made or commence until the earliest of (i) the expiration of the six months period measured from the date of Executive's "separation  from service" and (ii) the date of  Executive's death  following  such  "separation   from service".    Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or installments) in the absence of this Section 7(d) will be paid to Executive or Executive's beneficiary in one lump sum.

8.    NON-COMPETITION, NON-SOLICITATION, AND CONFIDENTIALITY. Employer and Executive acknowledge and agree that while Executive is employed pursuant to this Agreement, he will be provided access to Confidential Information of Employer and its Affiliates, will be provided with specialized training on how to perform his duties, and will be provided contact with Employer's and Affiliates' customers and potential customers throughout the world. Executive further recognizes and agrees that (a) Employer and its Affiliates have devoted a considerable amount of time, effort, and expense to develop its Confidential Information, training, and business goodwill, all of which are valuable assets to the Employer; (b) that Executive will have broad responsibilities regarding the management and operation of Employer's and Affiliates' world-wide operations, as well as its marketing and finances, its existing and future business plans, customers and technology; and (c) disclosure or use of Employer's or Affiliates' Confidential Information and additional information described herein to which Executive will have access, would cause irreparable harm to the Employer. Therefore, in consideration of all of the foregoing, Employer and Executive agree as follows:

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a.    NON-COMPETITION DURING AND AFTER EMPLOYMENT.  As stated in Section 2(c) herein, Executive will receive Confidential Information by virtue of his employment in an executive capacity with the Company.   Accordingly,  Executive agrees  that during his employment for the Company and for a period of eighteen (18) months after termination of his employment for any reason, he will not compete with Employer or Affiliates in any location in the world in which Employer or Affiliates have operations as of the date of Executive's termination, by engaging in the conception, design, development, production, marketing, selling, sourcing or servicing of any product or providing of any service that is substantially similar to the products  or  services   that  Employer  or  any  of  its  Affiliates   provided  during  Executive's employment  or planned to provide during Executive's  employment and of which Executive had knowledge, responsibility or authority, and that he will not work for, assist, or become affiliated or connected  with, as an owner,  partner, consultant, or in any other capacity, either directly  or indirectly, any individual  or business which offers or performs services, or offers or  provides products substantially  similar  to the services and products provided by Employer or Affiliates during   Executive's  employment,  or  that  were  planned  to  be  provided  during  Executive's employment  and of which Executive had knowledge, responsibility  or authority.  Additionally, during this period, Executive will not accept employment with or provide services in any capacity to any individual, business entity, investor, or investment fund that is actively involved in or assessing an acquisition of a controlling interest in the Company or purchase of substantially all assets of the Company.  The restrictive covenants set forth in this Agreement are reasonable and do not impose a greater restraint than is necessary to protect the goodwill or other business interests of the Company.

b.    CONFLICTS OF INTEREST. Executive agrees that for the duration of Executive's employment, he will not engage, either directly or indirectly, in any Conflict of Interest, and that Executive will promptly inform the General Counsel as to each offer received by Executive to engage in any such activity. Executive further agrees to disclose to Employer any other facts of which Executive becomes aware which might involve or give rise to a Conflict of Interest or potential Conflict of Interest.

c.    NON-SOLICITATION OF CUSTOMERS AND EMPLOYEES. Executive further agrees that for a period of two (2) years after the termination of his employment for any reason he will not either directly or indirectly, on his own behalf or on behalf of others (i) solicit or accept any business from any customer or supplier or prospective customer or supplier with  whom  Executive  personally  dealt  or  solicited  or  had  contact  with  at  any  time  during Executive's employment, (ii), solicit, recruit or otherwise attempt to hire, or personally cause to hire any of the then current employees or consultants of Employer or any of its Affiliates, or who were former employees or consultants of Employer or any of its Affiliates during the preceding twelve months, to work or perform services for Executive or for any other entity, firm, corporation, or individual; or (iii) solicit or attempt to influence any of Employer's or any of its Affiliates' then current  customers  or clients  to purchase any  products or services  substantially  similar  to  the products or services provided by Employer or Affiliates during Executive's employment (or that were planned to be provided during Executive's employment)  from any business that offers or performs services or products substantially similar to the services or products provided by
Employer or Affiliates.

		
	d.
	NON-DISCLOSURE OR USE OF CONFIDENTIAL INFORMATION.

(i)    Executive further agrees that during the term of his employment and thereafter he will not, except as Employer may otherwise consent or direct in writing, reveal or disclose, sell, use, lecture upon, publish, or otherwise disclose to any third party any Confidential Information or proprietary information of Employer or Affiliates, or authorize anyone else to do these things at any time either 

6

during or subsequent to his employment with Employer. If Executive becomes legally compelled by deposition, subpoena or other court or governmental action to disclose any Confidential Information, then the Executive shall give Employer prompt notice to that effect, and will cooperate with Employer if Employer seeks to obtain a protective order concerning the Confidential Information. Executive will disclose only such Confidential Information as his counsel shall advise is legally required.

(ii)    Executive agrees to deliver to Employer, at any time Employer may request,  all  documents,  memoranda,  notes,  plans, records, reports,  and  other  documentation, models, components, devices, or computer software, whether embodied in electronic format on a computer hard drive, disk or in other form (and all copies of all of the foregoing), relating to the businesses, operations or affairs of Employer or any Affiliates and any other Confidential Information that Executive may then possess or have under his control.

(iii)    This section shall continue in full force and effect after termination of Executive's employment and after the termination of this Agreement for any reason, including expiration of this Agreement. Executive’s obligations under this section of this Agreement with respect to any specific Confidential Information and proprietary information shall cease when that specific portion of Confidential Information and proprietary information becomes publicly known, in its entirety and without combining portions of such information obtained separately and without breach by Executive of his obligations   under this Agreement.  It is understood   that such Confidential Information and proprietary information of Employer and Affiliates includes matters that Executive conceives or develops during his employment, as well as matters Executive learns from other employees of Employer or Affiliates.

e.    Survival of Restrictive Covenants. All restrictive covenants herein shall survive termination of this Agreement and Executive’s   employment, regardless of reason, including expiration of the Agreement by passage of time and non-renewal.

9.    REMEDIES. Executive acknowledges that the restrictions contained in Section 8, in view of the nature of the Employer and its Affiliates' global business and Executive's global position with the Employer, are reasonable and necessary to protect the Employer and Affiliates' legitimate   business interests, including its Confidential   Information, training and business goodwill, and that any violation of this Agreement would result in irreparable injury to the Employer.  In the event of a breach by the Executive of any provision of Section 8, the Employer shall be entitled, in addition to any other remedies that may be available, to a temporary restraining order and injunctive relief restraining the Executive from the commission of any breach without the necessity of proving irreparable harm or posting of a bond, and to recover the Employer's attorneys' fees, costs and expenses related to the breach and any such action to enforce the provisions of Section 8.  The existence of any claim or cause of action by Executive against the Employer, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Employer of the restrictive covenants contained in Section 8.

10.    REFORMATION.    The  Executive  and  the  Employer  agree  that  all  of  the covenants contained in Section 8 shall survive the termination of Executive's employment and/or termination or expiration of this Agreement, and agree further that in the event any of the covenants contained in Section 8 shall be held by any court to be effective in any particular area or jurisdiction only if said covenant  is modified to limit in its duration or scope, then the court shall have such authority  to so reform the covenant and the Parties shall consider such covenant(s)  and/or other provisions  of  Section 8  to  be amended  and  modified  with  respect  to  that  particular  area  or jurisdiction so as to comply with the order of any such court and, as to all other jurisdictions, the covenants contained herein shall remain in full force and effect as originally written.  Should any court hold that these covenants are void or otherwise unenforceable in any particular area or jurisdiction,  then the Employer may consider such covenant(s) 

7

and/or provisions of Section 8 to be amended and modified so as to eliminate therefrom the particular area or jurisdiction as to which such  covenants  are  so  held  void  or  otherwise  unenforceable  and,  as  to all  other  areas  and jurisdictions  covered  hereunder, the covenants  contained  herein shall  remain in full force  and effect as originally  written.

11.    TOLLING. If the Executive violates any of the restrictions contained in this agreement, the restrictive period will be continued and enlarged for such length of time as the Employee is in violation of the restrictive covenant.

12.    NOTICE TO FUTURE EMPLOYERS. If Executive, in the future, seeks or is offered employment, or any other position or capacity with another company or entity, the Executive agrees to inform each new employer or entity, before accepting employment, of the existence of the restrictions in Section 8.   Further, before taking any employment position with any company or entity during the 18-month period described in Section 8, the Executive agrees to give prior written notice to the Employer, including the name of such company or entity and confirming in that notice that he has provided a copy of Section 8 to such new employer or entity.

13.    INVENTIONS.

a.    Executive acknowledges that during this Agreement, Executive may be involved in (1) the conception or making of improvements, discoveries, or inventions (whether or not patentable and whether or not reduced to practice), (2) the production of original works of authorship (whether or not registrable under copyright or similar statutes) or (3) the development of trade secrets relating to Employer's or any of its Affiliates’ business.  Executive acknowledges that all original works of authorship which are made by Executive (solely or jointly with others) within the scope of his or her employment, and which are protectable by copyright, are "works made for hire," pursuant to the United States Copyright Act (17 U.S.C., Section 101) and are consequently owned by the Employer or any of its Affiliates. Executive further acknowledges that all improvements, discoveries, inventions, trade secrets or other form of intellectual property is the exclusive property of Employer or any of its Affiliates.

b.    Executive hereby waives any rights he/she may have in or to such intellectual property, and Executive hereby assigns to Employer or any of its Affiliates all right, title and interest in and to such intellectual property. At Employer's or any of its Affiliates' request and at no expense to Executive, Executive shall execute and deliver all such papers, including any assignment documents, and shall provide such cooperation as may be necessary or desirable, or as Employer or any of its Affiliates may reasonably request, to enable Employer or any of its Affiliates to secure and exercise its rights to such intellectual property.

14.    RETURN OF PROPERTY.  All lists, records, designs, patents, plans, manuals, memoranda and other property delivered to the Executive by or on behalf of Employer or any of its Affiliates or by any of their clients or customers, and all records and emails compiled by the Executive that pertain to the business of the Employer or any of its Affiliates (whether or not confidential) shall be and remain the property of the Employer and be subject at all times to its discretion and control.   Likewise, all correspondence and emails with clients, customers or representatives, reports, research, records, charts, advertising materials, and any data collected by the Executive, or by or on behalf of the Employer or any of its Affiliates or its representatives (whether or not confidential) shall be delivered promptly to the Employer without request by it upon termination of Executive's employment.

15.    ASSIGNMENT. This Agreement may be assigned by Employer, but cannot be assigned by Executive.

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16.    BINDING AGREEMENT. Executive understands that his obligations under this Agreement are binding upon Executive’s heirs, successors, personal representatives, and legal representatives.

17.    EXECUTIVE'S REPRESENTATIONS.    Executive    represents     that    his acceptance of employment with Employer (a) will not result in a breach of any of Executive's obligations and agreements with any current or former employer, partnership or other person and (b) would not otherwise result in any liability to Employer or any of its Affiliates.   In addition, Executive represents to Employer that he is not a party or subject to (i) any restrictive covenants, including  without  limitation, relating to competition,  solicitation  or confidentiality  (other than general obligations  to maintain confidentiality)  that precludes or would materially interfere with his employment with Employer as contemplated by, and as of the date of,  this Agreement, and/or (ii) any agreement with any other employer, partnership or other person that in any way materially compromises,  limits or restricts Executive's ability to perform his duties for Employer as contemplated  by, and as of the date of, this Agreement.

18.    NOTICES. All notices pursuant to this Agreement shall be in writing and sent certified mail, return receipt requested, addressed as follows:

	
			
	Executive:
	 
	Employer:

	Paul J. Lawrence
	 
	Commercial Metals Company

	1340 Highland Road
	 
	Attn: General Counsel

	Dallas, Texas 75218
	 
	6565 North MacArthur Blvd.,

	 
	 
	Suite 800

	 
	 
	Irving, Texas 75039

	 
	 
	Fax: 214-689-4326

        
19.    WAIVER. No waiver by either Party to this Agreement of any right to enforce any term or condition of this Agreement, or of any breach hereof, shall be deemed a waiver of such right in the future or of any other right or remedy available under this Agreement.

20.    SEVERABILITY. Subject to the provisions of Section 10 herein, if any provision of this Agreement is determined to be void, invalid, unenforceable, or against public policy, such provisions shall be deemed severable from the Agreement, and the remaining provisions of the Agreement will remain unaffected and in full force and effect.    Furthermore, any breach by Employer of any provision of this Agreement shall not excuse Executive's compliance with the requirements of Section 10.

21.    ENTIRE AGREEMENT AND UNDERSTANDING. The terms and provisions contained   herein shall constitute the entire agreement between the Parties with respect to Executive's employment with Employer during the time period covered by this Agreement.  The Parties represent and warrant that they have read and understood each and every provision of this Agreement, and that they are free to obtain advice from legal counsel of choice, if necessary and desired, in order to interpret any and all provisions of this Agreement, and that both Parties have voluntarily entered into this Agreement.

22.    EFFECTIVE DATE. It is understood that this Agreement shall be effective as of August 13, 2019 and that the terms of this Agreement shall remain in full force and effect both during Executive's employment and where applicable thereafter.

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23.    GOVERNING LAW; RESOLUTION OF DISPUTES; WAIVER OF JURY TRIAL. This Agreement shall, at the choice of the Employer, be construed according to the laws of the State of Texas. All disputes relating to the interpretation and enforcement of the provisions of this Agreement shall, be resolved and determined exclusively by the federal or state courts in Dallas County, Texas.    EACH OF THE PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY   AND INTENTIONALLY   WAIVES THE RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION   BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, AND EXECUTIVE’S EMPLOYMENT AND COMPENSATION, OR TERMINATION THEREFROM.

[Signature Page to Follow]

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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

	
			
	EXECUTIVE
	 
	EMPLOYER

	 
	 
	 

	 
	 
	COMMERCIAL METALS COMPANY

   /s/ Paul J. Lawrence       
   Paul J. Lawrence
By:      /s/ Barbara R. Smith
Barbara R. Smith
Chairman, Chief Executive Officer and
President

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