Document:

Management Agreement, dated as of January 25, 2007

 Exhibit 10.16 

EXECUTION COPY 

MANAGEMENT AGREEMENT 

This Management Agreement (the “Agreement”) is entered into as of January 25, 2007, by and between Onex Partners
Manager LP, a Delaware limited partnership (the “Consultant”) and Metal Services Acquisition Corp., a Delaware corporation (the “Company”). 

The Company and its direct or indirect subsidiaries which receive the services performed by the Consultant, are hereinafter referred to
as the “Clients”. The Consultant and the Company are hereinafter jointly referred to as the “Parties”. 

RECITALS 
 A.
The Consultant is specifically skilled in corporate finance, strategic corporate planning and other management services. 
 B.
Pursuant to that certain Stock Purchase Agreement (the “Stock Purchase Agreement”), dated as of November 10, 2006, by and among the Company, Tube City IMS Corporation, a Delaware corporation, Mill Services Holdings, LLC, a
Delaware limited liability company and the other sellers listed on Annex A of the Stock Purchase Agreement, the Company will, upon the terms and subject to the conditions set forth in the Stock Purchase Agreement, purchase all of the stock of
the Company (together with the other transactions contemplated by the Stock Purchase Agreement, the “Acquisition”) 

C. Prior to the date hereof, the Consultant rendered substantial and valuable services to the Clients in connection with the raising of
debt financing for the Acquisition. 
 D. The Clients will continue to require the Consultant’s special skills and
management advisory services in connection with their general business operations after the date hereof. 
 E. The Consultant is
willing to make such skills available and to provide such services to the Clients on the terms and conditions hereinafter set forth. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter set forth, the Clients and the Consultant, intending to be legally bound, do hereby agree as follows: 

1. Engagement. The Clients hereby engage the Consultant for the Term (as hereinafter defined) and upon the terms and conditions
herein set forth to provide consulting and management advisory services to the Clients and/or any of their subsidiaries, as the Consultant and the Clients shall mutually agree from time to time. These services will be in the field of financial and
strategic corporate planning and such other management areas as the Consultant and the Clients shall mutually agree. In consideration of the compensation to the Consultant herein specified, the Consultant accepts such engagement and agrees to
perform the services specified herein. 

 2. Term. The engagement hereunder shall be for a term commencing on the date hereof
and expiring on the tenth anniversary of the date hereof (the “Initial Term”) unless terminated earlier as provided below. Upon expiration of the Initial Term, this Agreement shall automatically extend for successive periods of one
year each, unless terminated earlier as provided below or the Consultant or the Company shall give notice to the other at least 90 days prior to the end of the Initial Term (or any annual extension thereof) indicating that it does not intend to
extend the term of this Agreement. The Initial Term, together with all such annual extensions of the Initial Term, is referred to herein as the “Term.” This Agreement shall terminate upon a “Sale of the Company” (as
defined in the Investor Stockholders Agreement of the Company dated as of the date hereof). In the event of a “Qualified Public Offering” (as defined in the Investor Stockholders Agreement of the Company dated as of the date hereof), if so
requested by the underwriter, the Consultant will negotiate the terms and conditions of the termination of this Agreement in good faith. 

3. Services to be Performed. The Consultant shall devote reasonable time and efforts to the performance of the consulting and
management advisory services contemplated by this Agreement. However, no precise number of hours is to be devoted by the Consultant on a weekly or monthly basis. The Consultant may perform services under this Agreement directly, through its
employees or agents, or with such outside consultants as the Consultant may engage for such purpose. Each Client acknowledges that such services to them will not be exclusive, and that the Consultant and its affiliates will render similar services
to other persons. 
 4. Confidentiality. The Consultant shall hold in confidence all proprietary and confidential
information of the Clients and/or any of their subsidiaries which may come into the Consultant’s possession or knowledge as a result of its performance of services hereunder, exercising a degree of care in maintaining such confidence as is used
by the Consultant to protect its own proprietary or confidential information that it does not wish to disclose. The Consultant shall use all reasonable efforts to ensure that its employees, agents and outside consultants similarly maintain the
confidentiality of such proprietary and confidential information of the Clients and/or any of their subsidiaries. 
 5.
Compensation; Expense Reimbursement. 
 5.1 Compensation. 

(a) In consideration of the management advisory services hereunder, the Consultant shall be paid an aggregate annual fee
(hereinafter the “Management Fee”) equal to $1,000,000. The Management Fee shall be payable quarterly in arrears on the last business day of March, June, September and December of each year commencing on March 31, 2007 and is
subject to increase by the Consultant upon consent of the Board of Directors of the Company (such consent not to be unreasonably withheld) following a material acquisition of a business or line of business. In the event the Company is unable to pay
the Management Fee due to restrictions contained in its outstanding revolving credit or term bank loans, the Management Fee shall not be paid, but shall accrue, until 

 

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such payment is no longer restricted, at which time the accrued but unpaid Management Fee shall be paid to the Consultant. The Clients and/or any of their subsidiaries shall allocate the
Management Fee among themselves according to the services received. 
 (b) During the Term, if the Company
consummates any merger, consolidation, acquisition, disposition, reorganization, recapitalization or other extraordinary transaction, the Board of Directors of the Company, in its reasonable discretion, may determine that the Consultant shall be
entitled to charge the Company a transaction fee in an amount to be determined by the Board of Directors of the Company. For these purposes, the value of any acquisition or disposition shall be equal to the total enterprise value of the entity or
assets being acquired or disposed (including, without limitation, assumed debt or refinanced debt relating thereto). 

(c) In consideration of services previously rendered to the Company in connection with the transactions contemplated by
the Stock Purchase Agreement (including without limitation the planning and negotiation of the Stock Purchase Agreement and the financing thereof), the Company shall pay the Consultant a one-time fee of $2,000,000, which shall be due and payable in
immediately available funds on the date hereof. 
 5.2 Additional Fees. If the Consultant is requested by the Company to
perform services relating to activities outside the ordinary course of the Clients’ business, compensation for such services shall be mutually agreed to by the Company and the Consultant and require the approval of a majority of the members of
the Company’s board of directors who are not affiliates of the Consultant. 
 5.3 Expenses. The Clients shall
reimburse the Consultant for all reasonable out-of-pocket expenses incurred in connection with management advisory services to be provided by the Consultant hereunder, including, without limitation, reasonable costs in connection with agents or
outside consultants described in Section 3, reasonable travel, lodging and similar out-of-pocket costs incurred by the Consultant in connection with or on account of its performance of services for the Clients hereunder. Reimbursement shall be
made only upon presentation to the Clients by the Consultant of reasonably itemized documentation therefor. 
 6.
Indemnification. In addition to their agreements and obligations under this Agreement, the Clients agree, jointly and severally, to indemnify and hold harmless the Consultant and its affiliates, including its officers, directors,
stockholders, partners, members, employees and agents (collectively, the “Indemnitees”) from and against any and all claims, liabilities, losses and damages or actions, suits or proceedings in respect thereof (collectively, the
“Obligations”), as and when incurred by the Indemnitees, in any way related to or arising out of the performance by the Consultant of services under this Agreement, and to reimburse the Indemnitees for reasonable out-of-pocket legal
and other expenses (“Expenses”) as and when incurred by any of them in connection with or relating to investigating, preparing to defend, or defending any actions, claims or other proceedings (including any investigation or inquiry)
arising in any manner out of or in connection with the Consultant’s performance under this Agreement (whether or not such Indemnitee is a named party in such proceeding); provided, however, that the Clients shall not be responsible under this
Section 6 for any Obligations or 
  

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Expenses incurred by an Indemnitee to the extent that it is finally judicially determined (in an action in which such Indemnitee is a party) to result primarily from actions taken by such
Indemnitee due to such Indemnitee’s gross negligence or willful misconduct. Without limitation to the foregoing, in no event shall any Indemnitee have any liability, including, without limitation, liability for any Obligations or Expenses in
contract, tort or otherwise to the Company in connection with this Agreement, their engagement hereunder or the matters contemplated hereby except to the extent that any such liability is finally judicially determined (in an action in which such
Indemnitee is a party) to have resulted primarily from such party’s gross negligence or willful misconduct; nor shall any Indemnitee have liability for lost profits or other consequential, incidental, indirect, special or punitive damages or
for any amount in excess of the fees collected by it hereunder. 
 7. Third-Party Beneficiaries. All Indemnitees not
signatory to this Agreement are intended beneficiaries of Section 6 of this Agreement. 
 8. Notice. Any notice or
other communication required or permitted to be given or made under this Agreement by one Party to the other shall be deemed to have been duly given or made when delivered, if personally delivered, when transmitted, if sent by confirmed facsimile
transmission, or when actually received, if sent by mail, to the party at the following addresses (or at such other address as shall be given in writing by one party to the other): 

(i) If to the Consultant, addressed to it at: 

Onex Partners Manager LP 

712 Fifth Avenue 

New York, New York 10019 

Attention: Timothy A. R. Duncanson 

Facsimile No.: (212) 582-0909 

with a copy (which shall not constitute notice) to: 

Kaye Scholer LLP 

425 Park Avenue 

New York, New York 10022 

Attention: Joel I. Greenberg, Esq. 

                  Derek M. Stoldt, Esq.

 Facsimile No.: (212) 836-8689 

(ii) If to the Company, addressed to the Company at: 

Metal Services Acquisition Corp. 

1155 Business Center Drive 

Horsham, PA 19044 

Attention: I. Michael Coslov 

Facsimile No.: (610) 729-7300 
  

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 9. Modifications. This Agreement constitutes the entire agreement among the Parties
hereto with regard to the subject matter hereof, superseding all prior understandings and agreements, whether written or oral. This Agreement may not be amended or revised except by a writing signed by the Parties. 

10. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
successors and permitted assigns, but may not be assigned by any Party without the prior written consent of the other Parties hereto, except that the Consultant may assign its rights and obligations hereunder to its affiliates without the
Clients’ prior written consent. 
 11. Captions. Captions have been inserted solely for the convenience of reference
and in no way define, limit or describe the scope or substance of any provision and shall not affect the validity of any other provision. 

12. Governing Law; Jurisdiction; Service of Process. This Agreement shall, in accordance with Section 5-1401 of the General
Obligations Law of the State of New York, be governed by the laws of the State of New York, without regard to any conflicts of laws principles thereof that would call for the application of the laws of any other jurisdiction. Any action or
proceeding seeking to enforce any provision of, or based on any right arising out of, this Agreement may be brought against either of the Parties in the courts of the State of New York, or if it has or can acquire jurisdiction, in the United States
District Court for the Southern District of New York, and each of the Parties hereby consents to the jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue laid
therein. Process in any action or proceeding referred to in the preceding sentence may be served on any party anywhere in the world, whether within or without the State of New York. 

13. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby. 

14. Counterparts. This Agreement may be executed in several counterparts each of which shall be deemed an original and all of
which shall together constitute one and the same instrument. 
 [Remainder of Page Intentionally Blank] 

 

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

					
	ONEX PARTNERS MANAGER LP
		
	By:	 	Onex Partners Manager GP Inc., its General Partner
			
		 	By:	 	 /s/ Robert M. LeBlanc

		 	Name:	 	Robert M. LeBlanc
		 	Title:	 	Managing Director
			
		 	By:	 	 /s/ Anthony Munk

		 	Name:	 	Anthony Munk
		 	Title:	 	Managing Director

  

			
	METAL SERVICES ACQUISITION CORP.
		
	By:	 	 /s/ Donald F. West

	 Name:
	 	Donald F. West
	 Title:
	 	 Vice President

SIGNATURE PAGE — MANAGEMENT AGREEMENTRestricted Stock Plan

 Exhibit 10.17 

METAL SERVICES ACQUISITION CORP. 

RESTRICTED STOCK PLAN 

ARTICLE I. 

PURPOSE. 
 The
purpose of the Metal Services Acquisition Corp. Restricted Stock Plan (the “Plan”) is to aid Metal Services Acquisition Corp. (the “Company”) and its subsidiaries in attracting and retaining key employees of outstanding ability
and in motivating such employees to exert their best efforts on behalf of the Company and its subsidiaries. In addition, the Company expects that the Plan will induce any such employees who receive an Award hereunder to contribute fully to the
further growth and development of the business of the Company and its subsidiaries. 
 ARTICLE II. 

DEFINITIONS 
 2.1
“Affiliate” means, with respect to any Person, (a) any director or executive officer of such Person, (b) any spouse, parent, sibling, descendant or trust for the exclusive benefit of such Person or his or her spouse, parent,
sibling or descendant (or the spouse, parent, sibling or descendant of any director or executive officer of such Person), and (c) any other Person that, directly or indirectly, controls or is controlled by or is under common control with such
Person. For the purpose of this definition, (i) “control” (including with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any
Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, status as a general partner, or by contract or
otherwise and (ii) Onex Corporation shall be deemed to control any Person controlled by Gerald W. Schwartz so long as Mr. Schwartz controls Onex Corporation. 

2.2 “Award” means an award of Restricted Stock under this Plan which may be outright or at a purchase price per share
determined by the Committee. 
 2.3 “Board” shall mean the Board of Directors of the Company. 

2.4 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

2.5 “Committee” shall mean the Committee described in Article VII to administer the Plan. 

2.6 “Common Stock” shall mean common stock of the Company, $0.001 par value per share. 

2.7 “Date of Grant” shall mean the date on which any Restricted Stock is awarded hereunder, provided, that the Committee may
grant Awards to Participants to be effective and deemed to be granted on the occurrence of certain specified contingencies. The “Initial Date of Grant” shall be the date on which the Stock Purchase is consummated. 

 2.8 “Participant” shall mean any employee of the Company or any subsidiary thereof
to whom an Award is made in accordance with the terms hereof. 
 2.9 “Qualified Trust” shall mean, with respect to a
Participant, a trust for the exclusive benefit of that Participant and/or members of that Participant’s immediate family of which that Participant is the sole trustee. The Restricted Stock that has been transferred to a Qualified Trust shall be
deemed to be held by the transferor Participant for purposes of this Plan, including the vesting and forfeiture provisions hereof. 

2.10 “Restricted Stock” shall mean Common Stock awarded hereunder that is subject to the restrictions set forth hereunder, for
so long as such Common Stock remains subject to any such restriction. 
 2.11 “Restricted Stock Agreement” shall have
the meaning set forth in Section 5.7. 
 2.12 “Sale of the Company” shall mean any transaction pursuant to which
Person(s) other than the Company’s existing stockholders as of immediately after the Stock Purchase and their respective Affiliates acquire (a) capital stock of the Company possessing the voting power under normal circumstances to elect a
majority of the Board (whether by merger, consolidation, recapitalization, reorganization or sale or transfer of the Company’s equity interests or otherwise) or (b) all or substantially all of the assets of the Company and its subsidiaries
(determined on a consolidated basis). 
 2.13 “Stock Purchase” shall mean the acquisition by the Company of all of the
issued and outstanding capital stock of Tube City IMS Corporation, a Delaware corporation (“Tube City”), pursuant to a Stock Purchase Agreement, dated as of November 9, 2006, by and among Tube City, Mill Services Holdings, LLC, a
Delaware limited liability company, the other sellers listed on Annex A thereto and the Company. 
 ARTICLE III.

 SHARES SUBJECT TO THE PLAN 

3.1 The aggregate number of shares of Common Stock that may be issued or transferred pursuant to the Plan is the number equal to ten
percent (10%) of the number of shares of Common Stock outstanding immediately following the Stock Purchase, excluding any shares granted under this Plan. Such shares may be authorized and unissued, or treasury shares, or any combination
thereof. Any shares subject to an Award which for any reason are forfeited, cancelled or terminated, may be subject to a new Award. 

ARTICLE IV. 

ELIGIBILITY AND PARTICIPATION 

4.1 Any officer or other key employee of the Company or one of its subsidiaries, shall be eligible to receive an Award. The individuals
set forth on Schedule A hereto shall be participants as of the effective date of this Plan (the “Initial Participants”). 

ARTICLE V. 
 TERMS
AND CONDITIONS OF AWARDS 
 5.1 Award of Restricted Stock. The Committee shall from time to time, in its discretion,
award shares of Restricted Stock to any key employee, upon such terms and conditions, consistent with the provisions of this Plan, as it may determine. Effective on the 

 

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Initial Date of Grant, the Initial Participants shall be awarded shares of Restricted Stock in the amounts set forth on Schedule A hereto. 

5.2 Issuance of Restricted Shares. Upon the Award of Restricted Stock, the Committee shall promptly notify each Participant of
such Award, including the Date of Grant thereof, and a Restricted Stock Agreement shall promptly be executed and delivered by and on behalf of the Company. Such Restricted Stock Agreement may provide that the Restricted Stock is subject to such
restrictions as the Committee may provide, including, but not limited to, restrictions concerning voting rights and transferability. The Committee also may require that an appropriate legend be placed on stock certificates with respect to the
restrictions imposed thereon. Shares of Restricted Stock granted pursuant to an Award hereunder shall be issued in the name of the Participant as soon as reasonably practicable after the Award is granted, provided that the Participant has executed
the Restricted Stock Agreement. Except as otherwise provided in this Plan or any Restricted Stock Agreement, Restricted Stock may not be sold, assigned, transferred, pledged, hypothecated or otherwise encumbered or disposed of while any such
restriction is in effect. 
 5.3 Vesting. The Committee shall have the discretion to determine the period and the
conditions, if any, upon which an Award shall vest and become nonforfeitable. Notwithstanding the foregoing, each Initial Participant shall vest in twenty-five percent (25%) of his shares of Restricted Stock on the Initial Date of Grant and in
an additional fifteen percent (15%) on each of the first five anniversaries of such date. Except as otherwise provided herein or in a Restricted Stock Agreement, any nonvested Restricted Stock awarded to a Participant shall be immediately
forfeited if such Participant ceases to be an employee of or consultant to the Company or one of its subsidiaries for any reason, and such Participant shall have no further rights to or with respect to such shares. 

5.4 Rights as a Shareholder. Notwithstanding anything herein to the contrary, unless otherwise provided in a Restricted Stock
Agreement, a Participant shall have, subject to the restrictions set forth in this Article V, all of the rights of a shareholder with respect to such Restricted Stock, including the right to vote such Restricted Stock and to receive all dividends
paid thereon. 
 5.5 Lapse of Restrictions. Unless otherwise provided in a Restricted Stock Agreement, in the event of a
Sale of the Company, all restrictions on the Participant’s Restricted Stock shall lapse immediately prior to (but subject to) consummation of such transaction and such Restricted Stock shall no longer be subject to forfeiture. 

5.6 Lapse at Discretion of the Committee. The Committee may at any time, in its sole discretion, accelerate the time at which any
or all restrictions will lapse or remove any or all of such restrictions with respect to Restricted Stock awarded hereunder. 

5.7 Restricted Stock Agreements. Each Award of Restricted Stock under this Plan shall be evidenced by a Restricted Stock Agreement
which shall contain such terms and conditions as the Committee shall determine, consistent with this Plan. 
 ARTICLE VI.

 DILUTION AND OTHER ADJUSTMENTS 

6.1 Merger, Consolidation, etc. In the event of any change in the outstanding Common Stock as a result of a dissolution or
liquidation of the Company, sale of all or 
  

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substantially all of the assets of the Company and its subsidiaries, merger or consolidation of the Company with or into any other corporation, statutory share exchange involving capital stock of
the Company, reorganization, recapitalization, reclassification, stock dividend, extraordinary dividend, stock split, reverse stock split, stock combination, rights offering, spin-off or other relevant change the Committee shall make an equitable
adjustment in the number and kind of securities subject to the outstanding Awards in order to prevent the enlargement or dilution of the rights of Participants thereunder, consistent with the intent of the Plan, provided that the manner of such
equitable adjustment shall be determined in the sole discretion of the Committee. Accordingly, the Committee may, in its discretion, adjust the aggregate number of shares of Common Stock available for Awards under the Plan, and any or all other
matters deemed appropriate by the Committee, including, without limitation, (i) the continuation of this Plan and/or the assumption of the Awards granted hereunder by a successor corporation or other entity (or a parent or subsidiary thereof)
or (ii) the substitution for such Awards of new awards covering the stock of (or other equity interest in) a successor corporation or other entity (or a parent or subsidiary thereof), with appropriate adjustments as to the number and kind of
shares and purchase price, if any. In the event of any continuation, assumption or substitution contemplated by the foregoing clauses, this Plan and/or such Awards shall continue in the manner and under the terms so provided. 

6.2 Change in Capitalization. If, by reason of a change in capitalization described in Section 6.1, a Participant shall be
entitled to new, additional or different shares of stock or securities of the Company or any other corporation (or other entity) in respect of his or her Award, in the event that this Plan continues, such new, additional or different shares shall
thereupon be subject to all of the conditions, restrictions and performance criteria which were applicable to the shares of Common Stock subject to the Award, as the case may be, prior to such change in capitalization. 

ARTICLE VII. 

PLAN ADMINISTRATION 

7.1 Committee Membership. The Plan shall be administered by a committee of directors appointed by the Board to administer this
Plan, which shall consist of at least three members, each of whom is not a Participant herein. 
 7.2 Authority and
Discretion. The Committee shall administer this Plan and, subject to the limitations set forth herein, shall have absolute discretion and authority to: (i) grant Awards hereunder; (ii) determine when and to which key employees such
Awards will be granted; (iii) determine the form, amount and other terms and conditions of each such Award; (iv) interpret this Plan and any Award or agreement made thereunder; (v) establish, amend, waive and rescind any rules and
regulations relating to the administration of this Plan; (vi) determine the terms and provisions of any Restricted Stock Agreement entered into hereunder; and (vii) make all other determinations necessary or advisable for the
administration of this Plan. The Committee may correct any defect, supply any omission or reconcile any inconsistency in this Plan or in any agreement in the manner and to the extent it shall deem desirable. All determinations of the Committee in
the administration of this Plan, as described herein, shall be final, binding and conclusive, including, without limitation, the determination of the manner of any equitable adjustments, pursuant to Article VI. A majority of the members of the
Committee shall constitute a quorum for any meeting of the Committee and a majority of a quorum may authorize any action. 
  

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 ARTICLE VIII. 

AMENDMENT AND TERMINATION OF THE PLAN 

8.1 Amendment, Modification and Termination of this Plan. Except as provided in this Article VIII, (i) the Committee may at
any time amend, modify, terminate or suspend this Plan and (ii) the Committee may at any time alter or amend any or all agreements evidencing Awards hereunder to the extent permitted by law. This Plan shall terminate upon a Sale of the Company
after giving effect to the provisions of Section 5.5 and all Restricted Stock Agreements. No termination, suspension, modification or amendment of this Plan or any agreement evidencing an Award shall impair or adversely affect any right
acquired by any Participant or such Participant’s permitted transferee under an Award granted before the date of termination, suspension, modification or amendment unless the consent of such Participant or transferee is obtained. 

ARTICLE IX. 

MISCELLANEOUS 

9.1 Effective Date. The Plan shall become effective as of the effective time of the Stock Purchase. 

9.2 Rights as an Employee. Nothing in the Plan, the grant or holding of an Award, or in any Restricted Stock Agreement shall
confer to any holder of an Award any right to continue in the employ of the Company or any of its subsidiaries or as a member of the Board, or interfere in any way with the right of the Company or any parent or subsidiary of the Company to terminate
a Participant’s employment or directorship at any time. 
 9.3 Withholding. It shall be a condition to the
performance of the Company’s obligation with respect to any Award that a Participant pay, or make provision satisfactory to the Company for the payment of, any taxes which the Company is obligated to collect with respect to the issuance or
vesting or exercise of any Plan Award, including any Federal, state, or local withholding taxes. 
 9.4 Non-Assignability of
Plan Awards. Except as otherwise set forth herein, no Award shall be sold, pledged, assigned or transferred by the recipient, except by will or by the laws of descent and distribution or pursuant to a “qualified domestic relations
order,” as such term is defined in the Code or Title I of the Employee Retirement Income Security Act of 1974, as amended or to a Qualified Trust. The Company may require as a condition to a transfer to a Qualified Trust that the Qualified
Trust enter into agreements satisfactory to the Company, in its sole discretion, with respect to the Qualified Trust’s compliance with this Plan and the applicable Restricted Stock Agreement. No Award or interest therein may be sold, pledged,
attached, or otherwise encumbered other than in favor of the Company, and no Award shall be liable for the debts, contracts or engagements of the holder of an Award or his or her successors in interest or shall be subject to disposition by transfer,
alienation, anticipation, encumbrance, assignment or any other means whether such disposition may be voluntary or involuntary or by operation of law or judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including
bankruptcy) and any attempt to do so shall be null and void and of no force or effect. 
 9.5 Other Restrictions. Each
Award shall be subject to the requirement that, if at any time the Board or the Committee shall determine, in its sole discretion, that the listing, registration, or qualification of the shares of Restricted Stock upon any securities exchange or
under any state or Federal law, or the consent or approval of any governmental regulatory body 
  

 5 

 
is necessary or desirable as a condition of, or in connection with, the lapsing of any restriction with respect to such Award or the issue, transfer, or purchase of shares thereunder, the
restrictions with respect to such Award shall not lapse, and such issue, transfer or purchase shall not occur, in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of
any conditions not acceptable to the Board. The Company shall not be obligated to sell or issue any shares of Common Stock in any manner in contravention of the Securities Act of 1933, as amended, or any state securities law. 

9.6 Governing Law. This Plan and any agreements hereunder shall be interpreted and enforced under the internal laws of the State
of Delaware without regard to the conflicts of law principles thereof. 
 9.7 No Waiver. No modification or waiver of any
of the provisions of this Plan shall be effective unless in writing and signed by the party against whom it is sought to be enforced. 

9.8 Severability. In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or
invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

9.9 Binding Nature. This Plan and the agreements evidencing Awards hereunder shall be binding upon and inure to the benefit of the
successors (including by way of merger), assigns and heirs of the respective parties. 
  

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 Schedule A 

METAL SERVICES ACQUISITION CORP. 

RESTRICTED STOCK PLAN 

INITIAL PARTICIPANTS 
  

			
	 Name
	  	Common Shares
	 I Michael Coslov
	  	427.4538
	 Joseph Curtin
	  	363.5212
	 Raymond Kalouche
	  	363.5212
	 David J. Aronson
	  	320.754
	 Thomas E. Lippard
	  	180.015
	 Daniel E. Rosati
	  	158.195
	 Timothy R. Kaufman
	  	32.73
	 William Miller
	  	32.73
	 Jamie Estill
	  	32.73
	 Perry Van Rosendale
	  	32.73
	 Roger Marynak
	  	10.91
	 John Carrol
	  	10.91
	 Leon Heller
	  	10.91
	 John W. Keyes
	  	6.546
	 John Turner
	  	6.546
	 Donald Vesling
	  	6.546
	 Robert H. Wilson
	  	6.546
	 Robert Harris
	  	6.546
	 Hideyuki Nishizawa
	  	6.546
	 Michael Mullen
	  	6.546
	 Ralph Castellano
	  	6.546
	 Gerard Piccioni
	  	6.546
	 Spencer Hill
	  	6.546
	 Joseph Jung
	  	6.546
	 Jean-Luc Koclejda
	  	6.546
	 Claude Meilleur
	  	6.546
	 David Coslov
	  	6.546
	 David Watt
	  	6.546
	 James Brigel
	  	6.546
	 Yves Roger
	  	6.546
	 Michael A. Costa
	  	6.546
	 John Minihan
	  	4.364
	 Michael Koller
	  	4.364
	 Robert Subasic
	  	4.364
	 Michael W. McGraw
	  	4.364
	 Kirk Peters
	  	4.364
	 Brian St. Clair
	  	4.364
	 Paul Bochnak
	  	4.364
	 Richard English
	  	4.364
	 Kyle Mikaloff
	  	4.364
	 David Schoffman
	  	4.364
	 Eric Merrill
	  	4.364
	 Scott Clark
	  	4.364
	 Fermin Maldonado
	  	4.364
	 Ray Rivas
	  	4.364
		  	 
	 TOTAL:
	  	2156.0342

  

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