Document:

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                                                                   EXHIBIT 10.18

                          REDACTED FOR CONFIDENTIALITY

   FIRST ANCILLARY AGREEMENT TO THE TECHNOLOGY TRANSFER AND LICENSE AGREEMENT

                This Agreement, a First Ancillary Agreement to the May 20, 1999
        TECHNOLOGY TRANSFER AND LICENSE AGREEMENT (TTLA) is made effective
        January 24, 2000 ("Effective Date"), by and between Chartered
        Semiconductor Manufacturing LTD ("CSM"), a Singapore Corporation, with
        principal offices located at 60 Woodlands Industrial Park D, Street 2,
        Singapore 738406, Chartered Silicon Partners PTE LTD ("CSP"), a
        Singapore Corporation, with principal offices located at 60 Woodlands
        Industrial Park D, Street 2, Singapore 738406, and Motorola, Inc.
        ("Motorola"), a Delaware corporation, with principal offices located at
        1303 East Algonquin Road, Schaumburg, Illinois 60196.

                WHEREAS, Motorola, CSM and CSP desire to revise and update
        certain Sections of the TTLA existing between the parties.

                NOW THEREFORE, in consideration for the mutual promises
        contained herein, the Parties agree as follows:

                This First Ancillary Agreement amends Confidentiality Section 9,
        particularly to amend Section 9.4, and adds Sections 9.5 and 9.6 to the
        May 20, 1999 TECHNOLOGY TRANSFER AND LICENSE AGREEMENT between the
        Parties as follows:

        SECTION 9.4 IS HEREBY DELETED AND REPLACED WITH THE FOLLOWING LANGUAGE:

9.4     Notwithstanding anything to the contrary in this Agreement, CSM and CSP
        will construct a firewall between each of them and any Joint Projects
        between CSM or CSP and parties not subject to this Agreement including
        Lucent and CSM's joint venture fab with Lucent. This firewall shall
        protect the Technical Confidential Information provided or disclosed by
        Motorola to CSM or CSP from disclosure to individuals working on or who
        will be working on such Joint Projects or in such joint venture fab.
        Except as provided in Section 9.5, such firewall shall include CSM and
        CSP not assigning employees having knowledge of such Technical
        Confidential Information provided or disclosed by Motorola to work on
        such Joint Projects or in such joint venture fab for a period of
        ******************** from the end of the period such employees were
        exposed to Technical Confidential Information. For the purposes of this
        Section 9.4, Section 9.5, and Section 9.6, "Technical Confidential
        Information" shall mean Confidential Information of a technical nature
        including but not limited to process recipes, detailed sequences of
        steps in a factory control system regarding the manufacture of products,
        specific equipment configurations unique to the Logic Process
        Technologies. "Technical Confidential Information" shall not include
        information of business, marketing, commercial, or financial nature and
        any information which is authorized for disclosure pursuant to Sections
        2.1.1 or 9.3 of this Agreement. Further, for purposes of

CONFIDENTIAL TREATMENT REQUESTED

The asterisked portions of this document have been
omitted and are filed separately with the Securities and
Exchange Commission.

<PAGE>   2
        this Section 9.4, and Section 9.5, "Joint Projects" shall mean projects
        between CSM or CSP and parties not subject to this Agreement, for
        development of new manufacturing processes, new process technologies or
        significant developments to other process technology, such as new
        stand-alone blocks of process technology that are separate from but may
        be coupled with the other process technology and when coupled with other
        process technology, enable the manufacture of products having increased
        functionality. "Joint Projects" shall not include improvements to other
        process technology such as changes or additions to a process which
        improves or modifies it in some manner, including but not limited to
        increasing manufacturing throughput, increasing the performance, quality
        or yield of devices manufactured using the process, decreasing the cost
        of utilizing the process, or enabling the use of different materials.

        ADD THE FOLLOWING SECTIONS 9.5 AND 9.6:

9.5     CSM and CSP shall not be restricted from transferring process technology
        that is not Logic Process Technologies, including but not limited to
        process technology developed in Joint Projects, into or out of the CSP
        fab, provided however that only Chartered Employees may enter the CSP
        fab as part of the transfer. "Chartered Employees" shall mean employees
        of CSM or CSP or employees of Agilent Technologies, Inc. assigned
        full-time to CSM or CSP. Provided that the Chartered Employees that are
        part of the transfer are not exposed to the process recipes, or detailed
        sequences of steps in a factory control system regarding the manufacture
        of products, which constitute portions of the Technical Confidential
        Information, and were not working directly with the Technical
        Confidential Information prior to the start of the transfer, they are
        free to be immediately reassigned. Further, CSM and CSP may utilize
        expert Chartered Employees not normally assigned to the CSP fab to
        resolve problems that arise with either quantity or quality that result
        from using the other process technologies transferred into CSP. Provided
        these expert Chartered Employees are not exposed to the process recipes,
        or detailed sequences of steps in a factory control system regarding the
        manufacture of products, which constitute portions of the Technical
        Confidential Information, they are free to be immediately reassigned.
        Also, CSM and CSP are free to utilize Chartered Employees to provide
        centralized services including quality assurance, supply management, and
        certain equipment maintenance and repair. Provided the Chartered
        Employees providing these centralized services are not exposed to the
        process recipes, or detailed sequences of steps in a factory control
        system regarding the manufacture of products, which constitute portions
        of the Technical Confidential Information, they are free to be
        immediately reassigned.

9.6     Assurances: Motorola shall have the right to review the CSP procedures
        for protecting Logic Process Technologies from inadvertently
        contaminating other process technologies. Motorola shall provide
        reasonable notice of such reviews, and such reviews shall occur no more
        frequently than once each

                                       2

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        calendar quarter. Further, Motorola shall, at its own expense, have the
        right to have a technical audit performed by a mutually agreed upon
        third party. This technical audit shall be narrowly focused, based upon
        specific concerns raised by the Motorola review of the CSP procedures.
        The selection of the mutually agreed upon third party to perform the
        technical audit shall occur within five (5) working days of receipt by
        CSP of the specific concerns raised by the Motorola review of the CSP
        procedures. The mutually agreed upon third party shall be granted access
        to all necessary confidential information, but shall not include any
        non-Motorola confidential information in reporting the results of the
        technical audit to Motorola. The duration of the technical audit shall
        not exceed twenty-one (21) days.

IN WITNESS WHEREOF, the undersigned Parties have duly executed this First
Ancillary Agreement as of the Effective Date.

Chartered Silicon Partners Pte Ltd

By:     /s/ Lance Mills
   -----------------------------------------------
Title:  Agilent CSP Program Manager
      --------------------------------------------
Date:   January 24, 2000
     ---------------------------------------------

Chartered Semiconductor Manufacturing Ltd

By:     /s/ Brian Klene
   -----------------------------------------------
Title:  VP Strategic Development
      --------------------------------------------
Date:   January 24, 2000
     ---------------------------------------------

Motorola, Inc.

By:     Wayne K. Nesbit
   -----------------------------------------------
Title:  Vice President & Director
      --------------------------------------------
         Worldwide External Technology
      --------------------------------------------
Date:   January 10, 2000
     ---------------------------------------------

                                       3<PAGE>   1

                                                                     EXHIBIT 4.7

                       SIXTH AMENDMENT TO CREDIT AGREEMENT
                       -----------------------------------

                  THIS SIXTH AMENDMENT TO CREDIT AGREEMENT, dated as of January
15, 2000, (this "Sixth Amendment"), is by and among OLYMPIC STEEL, INC., an Ohio
corporation ("Borrower"), and NATIONAL CITY BANK ("NCB") and the group of other
banks signatory hereto or that become parties to the Credit Agreement hereafter
identified by amendment or supplement thereto (NCB and the banks comprising such
group at any specific time, hereinafter referred to as the "Banks") and NATIONAL
CITY BANK, as agent for the Banks (in that capacity, "NCB-Agent").

                                    RECITALS
                                    --------

                  A. Borrower, the Banks and NCB-Agent entered into a Credit
Agreement, dated as of October 4, 1996 (the "Credit Agreement"), pursuant to
which Borrower may obtain, among other things, (i) loans ratably from the Banks
that are on a revolving credit basis and (ii) subject LCs issued by NCB in which
the Banks agree to ratably share the obligations in respect thereof, in each
case until the expiration date.

                  B. Borrower, the Banks and NCB-Agent entered into the First
Amendment to Credit Agreement, dated as of January 24, 1997 (the "First
Amendment"), in order to increase the amount of the commitments by the Banks for
subject revolving credit loans and additional subject LCs by Ten Million Dollars
($10,000,000) and to permit Borrower to make certain joint venture investments
and guarantees of indebtedness of the joint venture entities.

                  C. Borrower, the Banks and NCB-Agent entered into the Second
Amendment to Credit Agreement, dated as of May 30, 1997 (the "Second
Amendment"), in order to increase the amount of the commitments by the Banks for
subject revolving credit loans and additional subject LCs by Eight Million
Dollars ($8,000,000), to add a commitment by Banks for new Series A term loans
in the amount of Seventeen Million Dollars ($17,000,000), to permit certain
borrowing from other lenders, to permit the Borrower to allow certain of its
property to become encumbered by liens in favor of other lenders and to extend
the expiration date to June 30, 2000.

                  D. Borrower, the Banks and NCB-Agent entered into the Third
Amendment to Credit Agreement, dated as of July 14, 1997 (the "Third Amendment")
in order to add an additional bank as a party to Credit Agreement, to adjust the
ratable share of the obligations among the Banks which were original parties to
the Credit Agreement, to decrease the aggregate amount of the commitments by the
Banks for existing subject LCs, and to make appropriate changes to the Credit
Agreement in recognition that some or all of the proceeds of the subject loans
would be used by a new subsidiary of Borrower, Olympic Steel Iowa, Inc., for the
purpose of acquiring land and constructing a temper mill facility in Bettendorf,
Iowa.

                  E. Borrower, the Banks and NCB-Agent entered into the Fourth
Amendment to Credit Agreement, dated as of December 8, 1998 (the "Fourth
Amendment") in order to authorize Borrower to borrow funds from Mellon Bank,
N.A. ("Mellon"), one of the Banks, pursuant to a discretionary Swing Line of
Credit facility (the "Swing Loan") as an

<PAGE>   2

additional exception to the prohibition against incurring indebtedness under
Section 3D.02 of the Credit Agreement; to grant to Mellon a one-time right to
have the Banks refund the outstanding Swing Loan as a subject revolving credit
loan; and to adjust Mellon's subject commitment with respect to the subject
loans made pursuant to the Credit Agreement until such time as the Swing Loan is
refunded at Mellon's request by a subject revolving credit loan.

                  F. Borrower, the Banks and NCB-Agent entered into the Fifth
Amendment to Credit Agreement dated as of March 10, 1999 (the "Fifth Amendment")
in order to extend the expiration date until June 30, 2002; to increase the
amount of the series A subject term loan commitment by $4,000,000, to waive
certain covenant requirements and exclude certain charges therefrom and modify
the interest rates payable by Borrower based on Borrower's EBIT-to-interest
ratio.

                  G. Borrower, the Banks and NCB-Agent desire to again amend the
Credit Agreement by this Sixth Amendment in order to change the Interest Rate
and Letter of Credit Commission and to modify the Interest Coverage requirements
of the Credit Agreement.

                                    AGREEMENT
                                    ---------

         Accordingly, the parties have agreed and do hereby agree as follows:

                  1. Subsection 2B.07 INTEREST RATES AND LETTER OF CREDIT
COMMISSIONS of the Credit Agreement shall be deleted in its entirety and the
following shall be substituted in place thereof:

                  2B.07 INTEREST RATES AND LETTER OF CREDIT COMMISSIONS - (a)
          Effective as of December 1, 1999 and thereafter until maturity, the
          principal of subject revolving credit loans and term loans shall bear
          interest at the per annum rates and the commissions on the subject
          letters of credit (in both cases, computed in accordance with
          subsection 8.10) as calculated based on the following:

                  (i) Prime rate loans shall bear interest at a fluctuating rate
         equal to the prime rate from time to time in effect, with each change
         in the prime rate automatically and immediately changing the rate
         thereafter applicable to the prime rate loans plus the applicable prime
         rate margin as determined in accordance with the following table;

                  (ii) LIBOR loans shall bear interest at a rate equal to the
         LIBOR pre-margin rate in effect at the start of the applicable contract
         period (except that any change in the FRB reserve percentage shall
         automatically and immediately change the LIBOR pre-margin rate
         thereafter applicable to the LIBOR loans) plus the applicable LIBOR
         margin as determined in accordance with the following table;

                  (iii) Commissions on existing subject LCs have been paid in
         advance through the respective dates set forth on EXHIBIT 2(B).07(iii).
         Commencing after such dates commissions on all subject LCs shall be
         adjusted quarterly on the last business day of

<PAGE>   3

         each March, June, September and December of each year on the basis of
         the applicable percentage as determined in accordance with the
         following table:
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------

      If the Borrower's              and the Borrower's         Then, both the applicable LIBOR          And the
     Liabilities-to-Worth          EBIT-to-Interest Ratio     margin and the applicable letter of      applicable
          Ratio is:                         is:               credit commission shall be equal to:     Prime rate
                                                                                                     margin equals:
----------------------------------------------------------------------------------------------------------------------
<S>                             <C>                           <C>                                    <C>
less than or equal to           Greater  than  or  equal      75 basis points                               0
 .75:1                           to 3.50:1
----------------------------------------------------------------------------------------------------------------------
greater than .75:1 but less     Less than 3.50:1 but          100 basis points                              0
than or equal to 1.25:1         greater than or equal to
                                2.75:1
----------------------------------------------------------------------------------------------------------------------
Greater than 1.25:1 but less    Less than 2.75:1 but          125 basis points                              0
than or equal to 1.75:1         greater than or equal to
                                2.25:1
----------------------------------------------------------------------------------------------------------------------
greater than 1.75:1             Less than 2.25:1 but          175 basis points                              0
                                greater than or equal to
                                2.00:1
----------------------------------------------------------------------------------------------------------------------
greater than 1.75:1             Less than 2.00:1              200 basis points                              0
----------------------------------------------------------------------------------------------------------------------
</TABLE>

          Both the liabilities-to-worth ratio and EBIT-to-interest ratio must be
         satisfied in order for the corresponding applicable prime rate margin,
         applicable LIBOR margin and applicable letter of credit commission to
         be effective, and if either the specific liabilities-to-worth ratio or
         EBIT-to-interest ratio is not satisfied, then the next highest prime
         rate margin, LIBOR margin or applicable letter of credit commission
         shall be applicable.

         (b)      After maturity (whether occurring by lapse of time or by
                  acceleration), the prime rate loans shall bear interest at a
                  fluctuating rate equal to the prime rate from time to time in
                  effect plus two percent (2%) per annum; PROVIDED, that in no
                  event shall the rate applicable to the prime rate loans after
                  the maturity thereof be less than the rate applicable thereto
                  immediately before maturity and each LIBOR loan shall bear
                  interest computed and payable in the same manner as in the
                  case of prime rate loans EXCEPT that in no event shall any
                  LIBOR loan bear interest after maturity at a lesser rate than
                  that applicable thereto immediately before maturity.

         2.       Subsection  3B.03 INTEREST  COVERAGE of the Credit  Agreement
shall be deleted in its entirety and the following substituted in place thereof:

                  3B.03 INTEREST COVERAGE - On a consolidated statement basis,
         Borrower will not, as at the end of the fiscal quarter during any
         fiscal year of Borrower (commencing December 31, 1999), suffer or
         permit its EBIT-to-interest ratio to be less

<PAGE>   4

         than 1.50:1 except as hereinafter provided. The Banks waive Borrower's
         compliance with the EBIT-to-interest ratio requirement as of
         September 30, 1999 provided such ratio was not less than 1.75:1.
         Further, notwithstanding the foregoing, Borrower's EBIT-to-interest
         ratio for the fiscal quarter ending on September 30, 2000 shall be not
         less than 1.75:1 and for the fiscal quarters ending on and after
         December 31, 2000 shall be not less than 2.25:1.

         3. Borrower shall pay or cause to be paid to NCB-Agent an amendment fee
in the amount of $85,000.00 to be shared ratably among the Banks.

         4. From and after the effective date of this Sixth Amendment,
references in the Credit Agreement and the subject notes (as amended by the
First Amendment, the Second Amendment, the Third Amendment, the Fourth
Amendment, the Fifth Amendment and this Sixth Amendment thereto or pursuant to
such amendments) to the Credit Agreement shall be deemed to be references to the
Credit Agreement as amended by all such amendments (unless otherwise expressly
indicated).

         5. Borrower restates and reaffirms all of its representations and
warranties set forth in Section 4B of the Credit Agreement as of the date
hereof.

         6. This Sixth Amendment and the modifications set forth herein shall be
and become effective as of the date hereof.

         7. The Credit Agreement, as amended by the First Amendment, the Second
Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment and
this Sixth Amendment, is hereby ratified and confirmed.

         8. This Sixth Amendment may be executed in one or more counterparts,
each counterpart to be executed by Borrower, by NCB-Agent and by one or more or
all of the Banks. Each such executed counterpart shall be deemed to be an
executed original for all purposes but all such counterparts taken together
shall constitute one agreement, which agreement constitutes the entire agreement
among the parties hereto with respect to the subject matter hereof.

         9. This Sixth Amendment may be executed by representatives of the Banks
using facsimile signatures and facsimilied signature pages shall in all respects
be binding on all parties hereto and thereto as if such signature pages were
originally delivered. Original signature pages for all facsimilied signature
pages shall be delivered to NCB-Agent.

<PAGE>   5

         In WITNESS WHEREOF, the parties have executed this Sixth Amendment as
of the date first above written.
<TABLE>
<CAPTION>

<S>                                                         <C>
NATIONAL CITY BANK, AGENT                                   OLYMPIC STEEL, INC.

By:                                                         By:
    -------------------------------------------------          --------------------------------------------
Printed Name:                                               Printed Name:
              ---------------------------------------                     ---------------------------------
Title:                                                      Title:
       ----------------------------------------------             -----------------------------------------

NATIONAL CITY BANK                                          MELLON BANK, N.A.

By:                                                         By:
    -------------------------------------------------          --------------------------------------------
Printed Name:                                               Printed Name:
              ---------------------------------------                     ---------------------------------
Title:                                                      Title:
       ----------------------------------------------              ----------------------------------------

COMERICA BANK                                               PNC BANK, NATIONAL ASSOCIATION

By:                                                         By:
    -------------------------------------------------          --------------------------------------------
Printed Name:                                               Printed Name:
              ---------------------------------------                     ---------------------------------
Title:                                                      Title:
       ----------------------------------------------               ---------------------------------------
</TABLE>

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