Document:

EX-10.01

EIGHTH AMENDMENT TO

AMENDED AND RESTATED CREDIT AGREEMENT

AND WAIVER

THIS EIGHTH AMENDMENT AND WAIVER (this “Amendment”), dated as of April 30, 2008, amends and
modifies a certain Amended and Restated Credit Agreement, dated as of November 16, 2005, as amended
by Amendments dated as of December 5, 2005, December 14, 2005, March 15, 2006, July 24, 2006,
November 30, 2006, November 30, 2007 and March 27, 2008 (as so amended, the “Credit Agreement”),
between MMA MORTGAGE INVESTMENT CORPORATION (the “Borrower”) and U.S. BANK NATIONAL ASSOCIATION
(the “Bank”). Terms not otherwise expressly defined herein shall have the meanings set forth in
the Credit Agreement.

FOR VALUE RECEIVED, the Borrower and the Bank agree that the Credit Agreement is amended as
follows.

ARTICLE I — AMENDMENTS TO THE CREDIT AGREEMENT

1.1 Discretionary Facility. It is acknowledged that the Termination Date has
occurred as of the date of this Amendment. Consequently, the Bank is not obligated to make
Advances to the Borrower. The Borrower and the Bank have agreed that the Termination Date shall
not be extended, but that the Credit Agreement shall remain in full force and effect, not as a
committed agreement by the Bank to extend Advances, but as a wholly discretionary facility. The
making of any Advance after the date of this Amendment shall be at the sole discretion of the Bank.
If any Advance is made, it will be governed and subject to the Credit Agreement. It is expressly
acknowledged that the Facility Fee is a work fee for maintenance of the Credit Agreement for this
purpose. The provisions of this paragraph shall apply, notwithstanding the use of terms including
“Commitments”, “Revolving Commitment”, “Termination Date” and similar terms in the Credit
Agreement.

1.2 Fannie Mae Commitment and Due Date of Fannie Mae Advances. Without limiting the
discretion of the Bank to make or not make any Advance on the request of the Borrower, it is
acknowledged that no further Fannie Mae Advances shall be made. All Fannie Mae Advance shall be
repaid in full on or before May 22, 2008.

1.3 Procedures, Conditions, Defaults, Events of Default. The Borrower shall continue
to comply with the procedures, conditions and covenants of the Credit Agreement as conditions to
consideration by the Bank of any request for an Advance. Occurrence of an Event of Default shall
be deemed to make all Advances immediately due and payable, but shall not affect the discretion of
the Bank to demand payment, as provided in Section 2.6(b) of the Credit Agreement.

1.4 Definitions. Section 1.1 is amended as follows:

(a) The definition of “Advance Percentage” is amended to read as follows:

"'Advance Percentage’ means 97%.”

(b) The definition of “Debt Service Coverage Ratio” is amended to read as follows:

"'Debt Service Coverage Ratio’ means the ratio, calculated for each period of
twelve consecutive months, of:

(a) the remainder of: (i) Earnings Before Interest, Depreciation and Amortization
for such four-quarter period, less (ii) any non-cash revenues included in (a)(i)
pursuant to application of FAS 140 or any similar requirement of GAAP;

to

(b) the sum of (i) mandatory principal payments of Indebtedness of the Company;
plus (ii) the interest expense of the Company (determined in accordance with GAAP),
each of the same twelve-month period.”

Monthly reporting of the Debt Service Coverage Ratio, and compliance with the requirements
of Section 4.9 shall commence with the period ending June 30, 2008 and apply to each
twelve-month period thereafter.

1.5 Repayment of Advances. Section 2.5(b) is amended to read as follows:

"(b) The Advances and the Notes shall be due and payable on the Termination Date, or
after the date of the Eighth Amendment hereof, on demand, provided, however,
that the following provisions and maturities shall apply to the following types of Advances
(and in each case, the following provisions shall not extend the maturity of any Advance to
a time after the Termination Date):

(i) Each Warehousing Advance shall be payable in full not later than the date
which is 30 days after the date on which such Warehousing Advance was made by the
Bank.

(ii) Each Bridge Advance shall be payable in full not later than the date which is
180 days after the date on which such Bridge Advance was made by the Bank.”

1.6 Debt Service Coverage Ratio. Section 4.9 is amended to read as follows:

“4.9 Debt Service Coverage Ratio. Not permit the Borrower’s Debt Service
Coverage Ratio, calculated for each period of four consecutive fiscal quarters (or for each
period ending on and after June 30, 2008, for each period of twelve consecutive months), to
be less than 1.15 to 1.00 for any such four-quarter period.

1.7 Leverage Ratio. Section 4.13 is amended to read as follows:

“4.13 Leverage Ratio. Not permit the ratio of (a) Indebtedness, to (b)
Tangible Net Worth to exceed 6.00 to 1.00 as of the last day of any fiscal quarter (or
commencing on June 30, 2008 and applying thereafter, on the last day of each month).”

1.8 Compliance Certificate. On and after June 30, 2008, the Compliance Certificate
shall report on Sections 4.9 and 4.13 on a monthly basis.

1.9 Event of Default. Section 5.1(j) is amended to read as follows:

(j) Municipal Mortgage & Equity LLC (“Muni Mae”) shall cease to own, directly or
indirectly, all of the voting stock of the borrower, or the Bank shall have determined in
good faith (which determination shall be conclusive) that a material adverse change shall
have occurred in the business or financial condition of Muni Mae (including without
limitation, loss of a material license or franchise) and the condition giving rise to such
determination continues for 10 days after notice to the Borrower by the Bank; or”

1.10 Construction. All references in the Credit Agreement to “this Agreement”,
“herein” and similar references shall be deemed to refer to the Credit Agreement as amended by this
Amendment.

ARTICLE II — WAIVER

The Borrower has not delivered its annual audited financial statements for the fiscal year
ended December 31, 2006 (the “2006 Audited Statements”) as required to be delivered pursuant to the
Credit Agreement. At the request of the Borrower, and effective as provided below, the Bank
waives any Default or Event of Default arising from the Borrower’s failure to deliver the 2006
Audited Statements; provided that the Borrower shall deliver the 2006 Audited Statements on
or before June 30, 2008. Failure by the Borrower to deliver either the 2006 Audited Statements by
June 30, 2008 shall be deemed non-compliance with Section 4.1 of the Credit Agreement and a Default
under the Credit Agreement.

ARTICLE III — REPRESENTATIONS AND WARRANTIES

To induce the Bank to enter into this Amendment and to make and maintain the Loans under the
Credit Agreement as amended hereby, the Borrower hereby warrants and represents to the Bank that it
is duly authorized to execute and deliver this Amendment, and to perform its obligations under the
Credit Agreement as amended hereby, and that this Amendment constitutes the legal, valid and
binding obligation of the Borrower, enforceable in accordance with its terms.

ARTICLE IV — CONDITIONS PRECEDENT

This Amendment shall become effective on the date first set forth above, provided, however,
that the effectiveness of this Amendment is subject to the satisfaction of each of the following
conditions precedent:

4.1 Warranties. Before and after giving effect to this Amendment, the representations
and warranties in Article III of the Credit Agreement shall be true and correct as though
made on the date hereof, except for changes that are permitted by the terms of the Credit
Agreement. The execution by the Borrower of this Amendment shall be deemed a representation that
the Borrower has complied with the foregoing condition.

4.2 Defaults. Before and after giving effect to this Amendment, no Default and no
Event of Default shall have occurred and be continuing under the Credit Agreement. The execution
by the Borrower of this Amendment shall be deemed a representation that the Borrower has complied
with the foregoing condition.

4.3 Documents. The Borrower shall have executed and delivered this Amendment, shall
have provided the Bank with an approval resolution and a designation of officers or employees
authorized to request borrowings and other transact business with the Bank and shall have
reimbursed the Bank for legal fees of preparation of this Amendment and prior documents.

ARTICLE V — GENERAL

5.1 Expenses. The Borrower agrees to reimburse the Bank upon demand for all
reasonable expenses (including reasonable attorneys’ fees and legal expenses) incurred by this Bank
in the preparation, negotiation and execution of this Amendment and any other document required to
be furnished herewith, and in enforcing the obligations of the Borrower hereunder, and to pay and
save the Bank harmless from all liability for, any stamp or other taxes which may be payable with
respect to the execution or delivery of this Amendment, which obligations of the Borrower shall
survive any termination of the Credit Agreement.

5.2 Counterparts. This Amendment may be executed in as many counterparts as may be
deemed necessary or convenient, and by the different parties hereto on separate counterparts, each
of which, when so executed, shall be deemed an original but all such counterparts shall constitute
but one and the same instrument.

5.3 Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining portions hereof or
affecting the validity or enforceability of such provisions in any other jurisdiction.

5.4 Law; Consent to Jurisdiction; Waiver of Jury Trial. This Amendment shall be a
contract made under the laws of the State of Minnesota, which laws shall govern all the rights and
duties hereunder. This Amendment shall be subject to the Consent to Jurisdiction and Waiver of
Jury Trial provisions of the Credit Agreement.

5.5 Successors; Enforceability. This Amendment shall be binding upon the Borrower and
the Bank and their respective successors and assigns, and shall inure to the benefit of the
Borrower and the Bank and the successors and assigns of the Bank. Except as hereby amended, the
Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed in all
respects.

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

U.S. BANK NATIONAL ASSOCIATION

By: /s/ Randall S. Baker

Title V.P.

MMA MORTGAGE INVESTMENT

CORPORATION

By: /s/ Michael A. Rulf

Title SVPEX-10.1

Exhibit 10.1

Asset Purchase Agreement

by and among

Grand Avenue Incorporated

Assad Iron & Metals, Inc.

Heidelberg Metals, Inc.,

Neville Recycling LLC

Platt Properties LLC

collectively “the Seller”

and

Metalico Neville, Inc.

1

April 30, 2008

Table of Contents

Page

2

Exhibits

	 	 	 
	Exhibit A

Exhibit B

Exhibit C

Exhibit 1.1(b)

Exhibit 1.1(c)

Exhibit 1.1(f)

Exhibit 1.2(a)

Exhibit 1.2(b)

Exhibit 1.2(c)

Exhibit 1.3(g)

Exhibit 1.3(p)

Exhibit 1.4(a)

Exhibit 1.4(b)

Exhibit 1.5(c)

Exhibit 2.2

Exhibit 2.3

Exhibit 3.1

Exhibit 3.3

Exhibit 3.4

Exhibit 3.5(a)

Exhibit 3.5(b)

Exhibit 3.5(c)

Exhibit 3.5(d)

Exhibit 3.5(e)

Exhibit 3.5(f)

Exhibit 3.8

Exhibit 3.9

Exhibit 3.11(a)

Exhibit 3.11(c)

Exhibit 3.11(d)

Exhibit 3.12

Exhibit 3.12(f)

Exhibit 3.13

Exhibit 3.14

Exhibit 3.15

Exhibit 3.16

Exhibit 3.16(b)

Exhibit 3.16(d)

Exhibit 3.17

Exhibit 3.18

Exhibit 3.19

Exhibit 3.21

Exhibit 3.23

Exhibit 3.24

Exhibit 3.25

Exhibit 3.26

Exhibit 5.8

Exhibit 5.9

	 	Platt Lease

Employment Agreements

Transferred Stock Letter

Equipment

Intellectual Property

Prepaid Expenses

Assigned Contracts

Unfulfilled Sales Commitments

Unfulfilled Purchase Orders

Excluded Contracts

Excluded Property

Form of Bill of Sale, Assignment and Assumption

Form of Deeds

Form of Escrow Agreement

Inventory Valuation Calculation

Purchase Price Allocation

Seller’s Shareholders

Ownership of Equity Interests

Required Consents of Governmental Bodies

Grand Avenue Incorporated December 31, 2006 Financial Statements

Grand Avenue Incorporated November 30, 2007 Financial Statements

Assad Iron & Metals, Inc. December 31, 2006 Financial Statements

Assad Iron & Metals, Inc. November 30, 2007 Financial Statements

Heidelberg Metals, Inc. March 31, 2007 Financial Statements

Heidelberg Metals, Inc. November 30, 2007 Financial Statements

Tax Matters

Encumbrances

Leased Equipment

Licensed Intellectual Property

Tangible Personal Property not Owned or Leased

Real Property

Adequate Ingress and Egress; Flood Hazard Area

Contracts

Insurance

Employment Matters

Benefit Plans

Claims Against Benefit Plans

Prohibited Transactions

Labor Relations

Proceedings and Orders

Governmental Authorizations and Legal Requirements

Consigned Inventories

Environmental Matters

Customers and Suppliers

Warrant and Product Liability

Transactions with Related Parties

Permitted Encumbrances

Territory

3

ASSET PURCHASE AGREEMENT

THIS ASSET PURCHASE AGREEMENT, made as of the 30th day of April 2008, by and between Metalico
Neville, Inc., a Pennsylvania corporation (“Buyer”) and Grand Avenue Incorporated, a Pennsylvania
Corporation (“Grand Avenue”), Assad Iron & Metals, Inc., a Pennsylvania corporation (“Assad Iron”),
Heidelberg Metals, Inc., a Pennsylvania corporation, trading and doing business as Neville Metals
(“Neville Metals”), Neville Recycling LLC, a Pennsylvania limited liability company (“Neville
Recycling”), and Platt Properties LLC, a Pennsylvania limited liability company (“Platt
Properties”), collectively “the Seller”.

RECITALS:

Seller is engaged in the business of processing ferrous and nonferrous scrap metals (the
“Business”);

Buyer desires to engage in the Business in which Seller is currently engaged and to acquire
substantially all of the assets of Seller and to assume certain of the liabilities of Seller, and
Seller desires to sell and assign such assets and liabilities to Buyer, on the terms and conditions
hereinafter set forth; and

An Appendix of defined terms appears at the end of this Agreement and is made a part hereof by
reference.

NOW, THEREFORE, in consideration of the premises and of the mutual covenants hereinafter set
forth, the parties hereto, intending to be legally bound, hereby agree as follows:

Article 1

Purchase of Assets

Section 1.1 Assets Description. Upon the terms and subject to the
conditions set forth in this Agreement, on the Closing Date (i) Seller shall sell to Buyer, and
Buyer shall purchase from the Seller, the Owned Properties real estate (defined in Section
3.12 hereof), and (ii) Seller shall sell to Buyer all of the assets of Grand Avenue, Assad
Iron, Neville Metals, Neville Recycling and Platt Properties, except for the Excluded Property
(defined in Section 1.3 hereof), including, without limitation, the following (all such
assets hereinafter referred to collectively as the “Property”):

	 	(a)	 	All inventory of ferrous and nonferrous scrap, raw materials,
work in process and finished goods on hand as of the Effective Time
(“Inventory”);

	 	(b)	 	All tangible personal property other than the Inventory,
including the equipment, machinery, fixtures, furniture, automobiles, trucks,
tractors, trailers and containers, office equipment, computer hardware, and
tools listed on Exhibit 1.1(b) (“Equipment”);

	 	(c)	 	All of Seller’s rights, title and interest in and to Seller’s
Intellectual Property, including the Marks and Net Names included on Exhibit
1.1(c);

	 	(d)	 	All Governmental Authorizations held by Seller and all pending
applications therefor or renewals thereof, in each case to the extent
transferable to Buyer;

	 	(e)	 	All customer lists and records, sales and purchase order files,
engineering, research and development reports and records, production reports
and records, service and warranty records, equipment logs, operating guides and
manuals, creative materials, advertising materials, promotional materials,
service honors and rewards, studies, reports, correspondence and other similar
documents and records and all personnel records (“Records”);

	 	(f)	 	All prepaid expenses as of the Effective Time listed on
Exhibit 1.1(f) attached hereto (“Prepaids”) to be prorated in
accordance with Section 9.4;

	 	(g)	 	All goodwill;

	 	(h)	 	All Contract rights as described below and all documents relating
thereto;

	 	(i)	 	All packaging materials and supplies, and other materials and
supplies used by Seller in the production of finished goods, on hand as of the
Effective Time; and

	 	(j)	 	All other assets owned by the Seller and used in the operation of
the Business, except for the Excluded Property.

Section 1.2 Contracts. Except for the Excluded Property, Seller shall
assign to Buyer on the Closing Date all of Seller’s right, title, and interest in and to:

	 	(a)	 	all contracts, leases and license agreements to which Seller is a
party, and identified on Exhibit 1.2(a), together with any other contracts,
leases or license agreements entered into by Seller in the ordinary course of
business or approved by Buyer in writing after the date of this Agreement and
prior to the Closing;

	 	(b)	 	all of Seller’s unfilled sales commitments as of the Effective
Time and any such sales commitments in excess of $10,000 are identified on
Exhibit 1.2(b); and

	 	(c)	 	all of Seller’s unfilled purchase orders as of the Effective Time
and any such purchase orders in excess of $10,000 are identified on Exhibit
1.2(c).

	 	(d)	 	The contracts, leases and license agreements to be assigned to
Buyer hereunder are collectively referred to as the “Contracts”. At Closing,
Buyer shall assume the Contracts pursuant to the Bill of Sale (defined in
Section 1.4 hereof).

Section 1.3 Excluded Property. The only assets of Seller that Buyer will
not be purchasing are (a) all of Seller’s cash (which includes checks received by or in transit to
Seller prior to the Effective Time), bank deposits, money market accounts, claims for Tax refunds
and other refunds pertaining to payments of expenses made by Seller prior to the Effective Time,
Tax Returns, Tax and other deposits, and Tax records, accounts and other receivables (which include
all purchase orders for Inventory filled by Seller prior to the Effective Time), and all other cash
equivalent items, (b) all of Seller’s accounts receivable, (c) the shares of stock of Grand Avenue,
Assad Iron, Heidelberg Metals and Hempfield Partners, Inc., the membership interests in Neville
Recycling and Platt Properties and the partnership interests in Hempfield Industries, Ltd., (d)
Seller’s corporate and other minute books and stock transfer records and books, provided however
that Seller shall deliver copies of such books and records to Buyer at or before Closing, (e) all
insurance policies and rights thereunder (including, without limitation, premium refunds resulting
from cancellations at closing), (f) the rights of Seller under this Agreement and any documents
executed in connection therewith, (g) the contracts, leases or license agreements listed on
Exhibit 1.3(h), if any, (h) personal items, (i) tax refunds, (j) claims by Seller against
third parties unrelated to the Business to be conducted by Buyer after Closing, unless the same are
part of a cross-claim or counter-claim of the Seller asserted before or after the Closing, (k)
assets related to employee benefit plans, (l) benefits under insurance policies related to
unassigned liabilities, (m) vehicles listed in Exhibit 1.1(b) as Excluded Property, (n)
Business and personnel books and records, provided however that Seller shall deliver copies of such
books and records to Buyer at or before Closing, (o) any and all consulting and employment
agreements to which Seller is a party and (p) those assets of Seller listed on
Exhibit 1.3(p) attached (herein collectively referred to as “Excluded Property”).

Section 1.4 Conveyance of Title; Platt Lease. At Closing:

(a) Seller will convey to Buyer title to the Property by executing and delivering a bill of
sale, assignment and assumption (“Bill of Sale”) substantially in the form of Exhibit
1.4(a) attached hereto;

(b) Seller will convey the Owned Property (i) located in the Commonwealth of Pennsylvania to
Metalico Neville Realty, Inc. (“Realty”), an Affiliate of Buyer, and (ii) located in the
State of West Virginia to Metalico Colliers Realty, Inc. (“Colliers”), an Affiliate of
Buyer, pursuant to special warranty deeds substantially in the form of Exhibit 1.4(b) (the
“Deeds”).

(c) Platt Properties and Buyer will enter into a Lease in substantially the form attached
hereto as Exhibit A (the “Platt Lease”) with respect to the Real Property owned by
Platt Properties and more specifically set forth in the Platt Lease.

	 	 	 	Section 1.5 Liabilities(1) .

	 	(a)	 	On the Closing Date, but effective as of the Effective Time, Buyer will assume
by the execution and delivery of the Bill of Sale referenced above all of Seller’s
obligations pertaining to the operation of the Business solely to the extent such
obligations first arise on or after the Closing Date, including without limitation, any
such obligations arising pursuant to the Contracts, provided that Buyer shall not
assume or agree to discharge any liability or obligation (i) arising out of or
otherwise relating to facts or circumstances occurring prior to the Closing Date and
(ii) arising out of any breach by Seller of any Contract (the “Assumed
Liabilities”).

	 	(b)	 	Except for the Assumed Liabilities, it is expressly understood and agreed that
notwithstanding anything to the contrary contained herein, the Buyer will not assume or
have any liability or obligation whatsoever with respect to any obligations,
liabilities, contracts, debts, claims, costs, expenses, agreements or understandings,
of any kind or nature whatsoever at any time existing or asserted with respect to the
Business or Seller, whether or not accrued on Seller’s financial statements or recorded
in its books and records, whether fixed, contingent or otherwise, whether known or
unknown, whether arising prior to, on or after the Closing Date and whether or not
relating to the operation of the Business or the ownership or use of the Property or
Real Property (collectively, the “Retained Liabilities”). Without limiting the
generality of the foregoing, the Buyer will not assume and will not become responsible
for any obligation, duty, commitment, claim or liability of Seller arising out of the
employment relationship between Seller and any of its employees or former employees
existing at any time, whether before or after the Closing Date, including without
limitation, all liabilities relating to any employee benefit plan sponsored or
maintained by Seller or any affiliate of Seller, all severance claims of any employee
of Seller (including, without limitation, such claims relating to or resulting from the
consummation of the transactions contemplated hereby) and all workers’ compensation or
other claims, demands, investigations or proceedings relating to matters which occurred
prior to the Closing Date.

	 	(c)	 	At the time of Closing, Seller shall establish an escrow account with Chicago
Title Insurance Company (the “Title Company”) as escrow agent (the “Escrow
Agent”) in an amount equal to $1,000,000 pursuant to an Escrow Agreement among
Buyer, Seller and Title Company in substantially the form attached hereto as
Exhibit 1.5(c) (the “Escrow Agreement”). To the extent Buyer is
required to pay any of Seller’s accounts payable and accrued expenses, the Escrow Agent
shall reimburse Buyer from this escrow account, and to the extent there remains any
balance in the escrow account forty-five (45) days after the Closing Date, the Escrow
Agent shall refund the balance to Seller.

	 	(d)	 	The Retained Liabilities shall include any payments required to be paid with
respect to Inventory sold before the Closing Date but for which the purchaser of the
Inventory is entitled to be reimbursed by Seller because of inaccuracies in the
reported weight or quality of the Inventory when sold. Buyer shall be entitled, in its
reasonable discretion after consultation with Seller, to make any payments contemplated
by this Section 1.5(d) directly to the purchaser of Inventory after providing
prior notice to Seller, in which event Seller shall promptly reimburse Buyer for the
amount of such payment.

	 	 	 	Section 1.6 Third Party Consents.

	 	(a)	 	Buyer and the Seller shall take, or cause to be taken by others, all
commercially reasonable steps to obtain and satisfy, at the earliest practicable date,
all Governmental Authorizations; provided, however, that the Seller shall not be
required to incur any financial or other obligation in connection therewith.

	 	(b)	 	In addition to and without limiting the foregoing, each of Buyer and the Seller
acknowledges that its respective Notification and Report Form and documentary materials
in respect of the transactions contemplated by this Agreement that substantially comply
with the provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended (the “HSR Act”), and the rules thereunder, has been filed with the
United States Federal Trade Commission and the Antitrust Division of the United States
Department of Justice , and further agrees that it shall file or cause to be filed as
soon as practicable any form or report required by any other Governmental Body relating
to antitrust matters if any such filing is required. Each of Buyer and the Seller
shall (i) respond as promptly as practicable to any inquiries or requests received from
any Governmental Body for additional information or documentation, (ii) not extend any
waiting period under the HSR Act or enter into any agreement with any Governmental Body
not to consummate the transactions contemplated by this Agreement, except with the
prior written consent of the other party, (iii) use reasonable commercial efforts to
obtain an early termination of the applicable waiting period under the HSR Act,
(iv) make any further filings or information submissions pursuant thereto that may be
reasonably necessary or advisable and (v) promptly make or cause to be made any filings
or submissions required under any applicable foreign antitrust or trade regulation
Legal Requirement. Neither party will be obligated (except as provided in the
foregoing sentence) to take any action to obtain any clearance under the HSR Act or to
resolve any objections that may be asserted by the applicable Governmental Body,
including (without limitation) executing agreements, asserting or defending through
litigation any claim asserted in any court, or selling, licensing or otherwise dealing
with any of its assets or contractual rights. Each of Buyer and the Seller
shall(A) promptly notify the other party of any written communication to that party or
its Affiliates from any Governmental Body and, subject to applicable Legal
Requirements, permit the other party to review in advance any proposed written
communication to any of the foregoing, (B) not agree to participate, or to permit its
Affiliates to participate, in any substantive meeting or discussion with any
Governmental Body in respect of any filings, investigation or inquiry concerning the
transactions contemplated by this Agreement unless it consults with the other party in
advance and, to the extent permitted by such Governmental Body, gives the other party
the opportunity to attend and participate thereat, and (C) to the extent permitted
under applicable Legal Requirements, promptly furnish the other party with copies of
all correspondence, filings, and written communications between such party and its
Affiliates and their respective representatives, on the one hand, and any Governmental
Body, on the other hand, with respect to this Agreement and the transactions
contemplated hereby (unless the furnishing of such information would (1) violate the
provisions of any applicable Legal Requirements or any confidentiality agreement or
(2) cause the loss of the attorney-client privilege with respect thereto; provided that
each such party shall use its reasonable commercial efforts to promptly communicate to
the other party the substance of any such communication, whether by redacting parts of
such material communication or otherwise, so that such communication would not violate
applicable Legal Requirements or cause the loss of the attorney-client privilege with
respect thereto).

	 	(c)	 	To the extent that Seller’s rights under any Contract or any other portion of
the Property may not be assigned without the Consent of another person, this Agreement
and the other Transaction Documents shall not constitute an agreement to assign the
same if an attempted assignment would constitute a breach thereof or be unlawful. If
any such Consent shall not be obtained or if any attempted assignment would be
ineffective or would impair Buyer’s rights under the Contract or other Property in
question so that Buyer would not acquire the benefit of all such rights, Seller, to the
maximum extent permitted by law and the Contract or other Property, shall act after the
Closing as Buyer’s agent in order to obtain for it the benefit of all such rights
thereunder and shall cooperate with Buyer in any other mutually agreeable arrangements
to provide the benefit of all such rights to Buyer.

Article 2

Purchase Price

Section 2.1 Amount and Payment. In consideration for the sale of the
Property and the Real Property by Seller to Buyer and the execution of the Platt Lease by Platt
Properties and Buyer, the Buyer will pay Seller via bank wire transfers to such domestic account or
accounts as Seller shall designate, the aggregate sum of Seventy-Six Million One Hundred Seventy
Five Thousand ($76,175,000.00) Dollars (the “Tentative Purchase Price”) plus or minus the
Adjustment Amount as determined in accordance with Section 2.2 below on the Closing Date.
The Tentative Purchase Price plus or minus the Adjustment Amount is referred to herein as the
“Purchase Price”.

	 	(a)	 	The Seller hereby acknowledges that it received a deposit in the amount of
$1,000,000.00 (“Deposit”) on March 31, 2008, and will credit such funds towards
the Purchase Price at the Closing, as hereinafter defined. The Deposit shall not be
refundable in the event the Contemplated Transactions fail to close except as expressly
provided herein.

	 	(b)	 	At the time of Closing, as hereinafter defined, Buyer shall (i) deliver to
Seller Sixty Seven Million Six Hundred Seventy Five Thousand ($67,675,000.00) Dollars
plus or minus the Adjustment Amount in good and immediately available funds and (ii)
assume Assad Iron’s liability under that certain Promissory Note dated as of April 25,
2008 from Assad Iron to Frank R. Crash in the original principal amount of Five Hundred
Thousand ($500,000.00).

	 	(d)	 	As soon as practicable but in any event no later than the third
(3rd) business day after the date of Closing, Buyer shall deliver to Seller
or Seller’s nominee or nominees (each a “Transferred Share Holder” and
collectively, the “Transferred Share Holders”) Seven Million ($7,000,000.00)
Dollars of Metalico, Inc. (“Parent”) common stock (the “Transferred
Shares”). The price per share of the Transferred Shares will be equal to 90.0% of
the Volume Weighted Average price of Parent’s common stock on the American Stock
Exchange for the 20 trading days immediately preceding the Closing Date (the “Price
Per Share”). The number of Transferred Shares will be determined on the Closing
Date by dividing $7,000,000 by the Price Per Share and the Transferred Shares will be
subject to certain make-whole provisions contained in the Transferred Share Letter (as
defined herein). No later than three (3) business days prior to the date of Closing,
Seller will (i) provide Buyer with the name(s), address(es), and Social Security or
Federal taxpayer Identification number(s) of the Transferred Share Holders. On or
prior to the Closing Date, Seller will deliver a letter executed by each Transferred
Share Holder substantially in the form attached hereto as Exhibit C (the
“Transferred Share Letter”).

Section 2.2 Inventory Adjustment.

	 	(a)	 	To the extent that the value of the Marketable Inventory, as of the Closing
Date, as determined in accordance with the provisions of this Section 2.2 and
valued in accordance with the provisions of Exhibit 2.2 (the “Inventory
Amount”), exceeds $7,000,000, the Tentative Purchase Price shall be increased by
the amount of such excess, and to the extent that the Inventory Amount is less than
$7,000,000, the Tentative Purchase Price shall be decreased by the amount of such
deficiency (such positive or negative amount hereinafter referred to as the
“Adjustment Amount”). For purposes hereof, “Marketable Inventory”
means Inventory that is currently merchantable in the ordinary course of business
without discounts.

	 	(b)	 	The Inventory Amount shall be determined based upon a physical count of the
Inventory conducted in good faith by the parties as of the Closing Date. If any
dispute arises as to the determination of the Inventory Amount used to determine the
Adjustment Amount in accordance with this Section 2.2, Seller and Buyer shall
retain a third party consultant with experience in the scrap metal industry (the
“Consultant”) reasonably acceptable to Seller and Buyer to assist Seller and
Buyer in resolving such dispute. Each of Seller and Buyer shall be responsible for
one-half of the fees charged by the Consultant in connection with determining the
Inventory Amount. The Adjustment Amount shall be paid by the appropriate party within
three (3) business days following the Closing or, if a dispute arises concerning the
Inventory Amount, within three (3) business days following final determination thereof.

Section 2.3 Allocation. The Buyer and the Seller hereby agree to allocate
the Purchase Price as set forth in Exhibit 2.3. After the Closing, the parties shall make
consistent use of such allocation for all Tax purposes and in all filings, declarations and reports
in respect thereof, including the reports required to be filed under Section 1060 of the IRC.
Seller will prepare and deliver IRS Form 8594 to Buyer within 45 days after the Closing Date, or
within 10 days of the final determination of the Adjustment Amount by the parties if the Inventory
Amount is disputed, consistent with the foregoing, and Seller and Buyer shall file that form with
the IRS. In any Proceeding related to the determination of any Tax, neither Buyer nor Seller will
contend or represent that such allocation is not a correct allocation.

Article 3

Seller’s Representations and Warranties

Seller represents and warrants to the Buyer as follows:

Section 3.1 Corporate Status. Each entity that comprises Seller that is a
corporation (Grand Avenue, Assad Iron and Neville Metals) is duly organized, validly existing and
in good standing under the laws of the Commonwealth of Pennsylvania and each corporation has the
power and authority to own its properties and to carry on its business as it is now being
conducted. Each of these three (3) corporate entities has an authorized capital consisting of the
number of shares of Common Stock, of which there are a certain number of shares of stock that are
outstanding, and all of the outstanding shares are validly issued, fully paid and non-assessable,
as indicated on Exhibit 3.1. Except as provided in Exhibit 3.1, there are no
options, warrants, rights, shareholder agreements or other instruments or agreements with respect
to any Seller’s capital stock. There are no outstanding stock appreciation rights or similar
rights measured with respect to any of Seller’s capital stock or membership interests, nor are
there any instruments or agreements giving anyone the right to acquire any such rights. Each
entity that comprises Seller that is a limited liability company (Neville Recycling LLC and Platt
Properties LLC) is duly organized, validly existing and in good standing under the laws of the
Commonwealth of Pennsylvania and each limited liability company has the power and authority to own
its properties and to carry on its business as it is now being conducted. Except as provided in
Exhibit 3.1, there are no options, warrants, rights, member agreements or other similar
instruments or agreements with respect to any Seller’s membership interests.

Section 3.2 Authority. All necessary corporate action has been taken by
Seller with respect to the execution, delivery and performance by Seller of this Agreement and the
agreements contemplated hereby (the “Transaction Documents”) and the consummation of the
transactions contemplated hereby and thereby. This Agreement is legally binding upon Seller, and
Seller has all requisite corporate power, authority, and capacity to execute and deliver this
Agreement and the other Transaction Documents, and to perform all of its obligations hereunder.

Section 3.3 Ownership of Shares. The shareholders and members of Seller are
listed on Exhibit 3.3. 

Section 3.4 No Conflicts. The execution, delivery and performance by the
Seller of this Agreement and the other Transaction Documents and the consummation by the Seller of
the Contemplated Transactions in accordance with the terms hereof do not and will not (a) require
the Consent of or any filing with or notice to, any Governmental Body or any third party except as
described on Exhibit 3.4 or as provided in Section 1.6 hereof or (b) violate or
conflict with or result in a breach of the terms, conditions or provisions of the articles of
incorporation, bylaws, operating agreement or other governing instrument of Seller.

Section 3.5 Financial Statements. The balance sheets and income statements
of Grand Avenue Incorporated as of December 31, 2006 and December 31, 2007, the balance sheets and
income statements of Assad Iron & Metals, Inc. as of December 31, 2006, December 31, 2007 and
February 29, 2008 and the balance sheets and income statements of Heidelberg Metals, Inc. as of
March 31, 2007, December 31, 2007 and February 29, 2008 (the “Financial Statements”)
attached as Exhibits 3.5(a)-(f) are true and correct and fairly present the financial
position of Seller as at the dates of such balance sheets, and the results of the operations and
cash flows of Seller for the periods ended on such dates. These Financial Statements are compiled
statements and were prepared by Kramer, Thompson and Associates, certified public accountants,
whose reports are included with such financial statements. The books of account and other
financial records of Seller, all of which have been made available to Buyer, are correct and
complete in all material respects, represent actual, bona fide transactions and have been
maintained in accordance with sound business and accounting practices.

Section 3.6 Absence of Certain Changes. Since the date of the last
Financial Statement, except as contemplated by this Agreement, and except as disclosed on Exhibit
3.6, (a) Seller has operated the Business in the ordinary course consistent with past practice, (b)
there has been no material adverse change in the Property, the Real Property or in the operation,
performance, or financial condition of the Business, (c) Seller has not experienced any material
adverse change in its relations with its customers, suppliers, employees or agents with respect to
the Business, (d) there has not been any damage to, or destruction or loss of, any portion of
Seller’s Property, (e) Seller has not entered into any material Contract, no material Contract has
been terminated and no notice of termination of any of Seller’s material Contracts has been
received, (f) Seller has not sold, transferred, licensed or otherwise disposed of, or agreed to
sell, transfer, license or otherwise dispose of, any of Seller’s assets except sales of Inventory
in the ordinary course of the Business consistent with past practice, (g) Seller has not changed
any of the accounting methods used in the Business, (h) Seller has not entered into or modified any
collective bargaining agreement relating to the Business, (i) Seller has not encumbered or granted
or created an Encumbrance on any portion of its property except for Permitted Encumbrances, (j)
Seller has not waived or released any of its rights with respect to the Business or the Property or
permitted any of such rights to lapse, (k) no executive officer or other key employee of Seller has
left his or her employment with Seller, (l) Seller has not made, or committed to make, any capital
expenditures in excess of $100,000 in the aggregate, and (m) Seller has not agreed or committed to
do any of the foregoing.

Section 3.7 Liabilities. Since the date of the last Financial Statement,
Seller has not incurred any liabilities not in the ordinary course of the Business that will be
binding on Buyer after Closing.

Section 3.8 Tax Matters. Except as otherwise disclosed on Exhibit
3.8:

	 	(a)	 	all returns, declarations, reports and information statements with respect to
Taxes which are required to be filed by or on behalf of Seller with any governmental
entity, including without limitation any consolidated, combined or unitary Tax Returns,
have been properly prepared and filed and correctly state Seller’s Tax liability;

	 	(b)	 	Seller has paid, or has made adequate reserves on its books for the payment of,
all Taxes, shown to be due on such Tax Returns or claimed to be due by any governmental
entity or which Seller otherwise is liable for or is required to withhold on behalf of
any other Person;

	 	(c)	 	the reserves and provisions for Taxes on the books of Seller are adequate for
all open years and for its current fiscal period;

	 	(d)	 	To Seller’s Knowledge, there is no proposed assessment of any additional Taxes
by any Governmental Body or of any basis for any such assessment (whether or not
reserved against);

	 	(e)	 	Seller is not currently being audited by any Governmental Body, and no such
audit is pending or, to Seller’s Knowledge, threatened;

	 	(f)	 	Seller has not made any Tax elections which (i) were in effect in any past year
for which the time for audit has not expired or (ii) are currently in effect; and

	 	(g)	 	Seller has not given any waiver or extension of any period of limitation
governing the time of assessment or collection of any Tax.

Section 3.9 Title to Property. Except as disclosed on Exhibit 3.9, Seller
owns good and marketable title to all of the Property, and at Closing the Property will be
transferred to Buyer free and clear of all Encumbrances other than Permitted Encumbrances.

Section 3.10 Intellectual Property. To the Seller’s Knowledge, no person is
infringing any of Seller’s Intellectual Property rights. Seller is not infringing the intellectual
property rights of any other person. No person has notified Seller in writing of a claim that
Seller’s use of any of Seller’s Intellectual Property infringes the rights of any other person,
which claim remains unresolved.

Section 3.11 Property Schedules.

	 	(a)	 	Exhibit 3.11(a) is a list of all machinery, motor vehicles, equipment,
furniture, office equipment, computer hardware and other tangible personal property
leased to Seller, including information as to the location of that property, as well as
an identification of the lessor thereof, and a cross-reference to the lease agreements
therefor listed on Exhibit 1.2(a).

	 	(b)	 	Exhibit 1.1(c) is a list of all of Seller’s registered Marks and Net
Names, including a description of any registrations or applications concerning the
foregoing. Seller has no issued Patents or pending Patent applications or registered
copyrights or pending applications therefor.

	 	(c)	 	Exhibit 3.11(c) is a description of all Intellectual Property, if any,
licensed by Seller as licensee, an identification of the licensor, and a cross
reference to the license agreements relating thereto on Exhibit 1.2(a).

	 	(d)	 	Exhibit 3.11(d) is a list of all tangible personal property, if any,
used by Seller in the operation of the Business which is not owned or leased by Seller
and identifies the location of that property, the owner thereof, and a cross reference
to any agreements relating to that property to which Seller is a party that are listed
on Exhibit 1.2(a).

Section 3.12 Real Property.

	 	(a)	 	Seller has no interest in any real estate except those properties disclosed on
Exhibit 3.12 for which Seller alone holds fee simple title (the “Owned
Properties”) and those properties disclosed on Exhibit 3.12 which Seller leases
or subleases as a tenant or subtenant (the “Leased Properties,” and together with the
Owned Properties, the “Real Properties”). Disclosed on Exhibit 3.12 are all
title insurance policies insuring Seller’s interest in any of the Real Properties, true
and correct copies of which are included in Exhibit 3.12 and have been
delivered to Buyer from Seller. All Real Property is available to be used without
restriction in the conduct and operation of Seller’s business and comply in all
material respects with all applicable legal requirements. Seller has not received any
written notice from any governmental authority of any material violation that remains
outstanding of any applicable law with respect to the use or condition of the Real
Property, including without limitation, applicable building and zoning codes and
regulations of any governmental authority having jurisdiction. To Seller’s Knowledge,
no owner of any Leased Property has received such a notice.

	 	(b)	 	There are no disputes pending or, to Seller’s Knowledge, threatened between
Seller and any contractor over payment for services, material or work supplied to the
Business. All bills of all contractors, subcontractors or materialmen relating to
services, material or work supplied to the Real Property have been fully paid or will
be fully paid when due.

	 	(c)	 	Exhibit 3.12 sets forth a correct and complete list of (i) all leases,
subleases and other material agreements or rights pursuant to which any Person has the
right to occupy or use any of the Real Properties and (ii) all leases, subleases and
other material agreements or rights pursuant to which Seller has the right to occupy or
use any of the Real Properties.

	 	(d)	 	Except as otherwise disclosed on Exhibit 3.12, all buildings and other
improvements located on the Real Properties (including without limitation all water,
sewer, gas, electrical and HVAC systems servicing the same) are in good repair and
operating condition, ordinary wear and tear excepted. The Real Properties constitute
all real property, buildings and other improvements used in the Business as currently
conducted.

	 	(e)	 	To Seller’s Knowledge, all buildings and other improvements located on the Real
Properties, and the use of the Real Properties by Seller and all Persons claiming under
Seller, comply in all material respects with all Legal Requirements relating to zoning
and land use and with all easements, covenants and other restrictions applicable to the
Real Properties.

	 	(f)	 	The Real Properties: (i) are served by the utilities listed on Exhibit
3.12 and such utilities are the only utilities Seller currently uses to conduct the
Business as currently conducted thereon; (ii) except as shown on Exhibit
3.12(f), have adequate means of ingress and egress, either directly or by means of
easements, rights-of-way or other agreements which run with the Real Properties; (iii)
have adequate parking that is sufficient to meet the needs of Seller’s employees and
business invitees and to comply with applicable Legal Requirements; and (iv) except as
shown on Exhibit 3.12(f), are not located in whole or in part within an area
identified as a flood hazard area by any Governmental Body.

Section 3.13 Contracts. Exhibits 1.2(a), 1.3(h), 3.13,
3.14, 3.15 and 3.16. disclose all contracts, agreements, options and
commitments that are material to the Business in any respect, including, without limitation, the
following:

(a) management, employment, or consulting contracts;

(b) agreements or commitments with any present or former owner, employee, director or
Subsidiary of Seller;

(c) collective bargaining or other labor agreements;

(d) lease or bailment agreements;

(e) agreements involving the sharing of profits or losses;

(f) non-competition or confidentiality agreements;

(g) guarantees of the obligation of another or indemnity agreements (excluding
guaranty or indemnification provisions of sales commitments or purchase orders);

(h) distributorship, manufacturer’s representative, or other type of agency
agreements;

(i) licenses (other than a license for off the shelf software available upon the same
terms to all customers), or know-how or technology transfer agreements; or

(j) any other agreements, contracts or commitments of Seller that (i) continue for
more than 6 months from the date hereof, (ii) involve payments in excess of $50,000
or (iii) are otherwise material to Seller.

The Contracts to be assigned to and assumed by Buyer are in full force and effect and are
enforceable against Seller and, to Seller’s Knowledge, the other parties thereto, in accordance
with their terms. Seller is in compliance in all material respects with each such Contract and, to
Seller’s Knowledge, all other parties to such Contracts are not in default thereof in any material
respect.

	 	 	Section 3.14 InsuranceSection 3.9 . Exhibit 3.14 contains a list of all
insurance policies of Seller and all claims that have been made thereunder since January 1,
2006, together with an explanation of whether the claims have been resolved and, if so, how
they were resolved. All listed insurance policies are in full force and effect and all
premiums due thereunder have been paid on a timely basis. Seller has not been notified by any
representative of any insurer of the existence of any basis for cancellation of the policies
or for the reduction of coverages provided thereby. Seller has at all times prior to the
Closing Date maintained, in Seller’s reasonable judgment, adequate insurance coverage for the
assets and the operation of Seller’s Business for all risks normally insured against by a
party carrying on the same business or businesses as Seller. Except as otherwise disclosed on
Exhibit 3.14: (a) there has been no failure to give any notice or present any
material claim under any such policy in a timely fashion or as otherwise required by such
policy; and (b) Seller has not been refused any insurance, nor has its coverage been limited
by any carrier.

Section 3.15 Employment Matters. Exhibit 3.15 contains a complete and
accurate list of the name, position, service date, classification (full-time, part-time, leased or
temporary), status (active, leave of absence or other status) and annual compensation rate, bonus,
commission and other incentive compensation related to the calendar year ending December 31, 2007
for each employee of Seller. There has not been any general increase made or promised in the level
or rate of salaries or other compensation of any of Seller’s employees from those set forth on
Exhibit 3.15. Seller has paid in-full to all employees, or made appropriate accruals on
its books of account of all wages, commissions, bonuses and other direct compensation for all
services performed by its employees. Exhibit 3.15 contains a list of all written employment
contracts between Seller and any employee thereof.

Section 3.16 Employee Benefit Plans.

	 	(a)	 	Exhibit 3.16 lists all of Seller’s Benefit Plans. Seller has delivered
to Buyer true and complete copies of all plan documents, amendments thereto, insurance
contracts and trust agreements, current summary plan descriptions, and annual reports
with respect to the Benefit Plans or summary descriptions of any such Benefit Plans not
in writing. Seller does not have any plan or commitment to create any additional
Benefit Plan or to modify or change any existing Benefit Plan that would affect any
current or former employee of Seller.

	 	(b)	 	There are no Proceedings or claims (other than for routine benefits under the
relevant provisions of a Benefit Plan) pending or, to Seller’s Knowledge, threatened
against any of the Benefit Plans or their assets, except as are listed on Exhibit
3.16(b). No Benefit Plan is, or to the Seller’s Knowledge, proposed to be, under
audit or investigation.

	 	(c)	 	All contributions that were required to be made by Seller to the Benefit Plans,
under the funding obligations of each such arrangement or applicable law, have been
made as of the date hereof, and Seller has performed as of the date hereof all material
obligations required to be performed by it under the Benefit Plans, and to Seller’s
Knowledge, all of the Benefit Plans have been operated in compliance in all material
respects with their respective terms and all laws.

	 	(d)	 	Except as set forth in Exhibit 3.16(d), no reportable event within the
meaning of Section 4043 of ERISA or transaction prohibited under Section 406 of ERISA
and no “prohibited transaction” under IRC § 4975(c) has occurred with respect
to each Benefit Plan.

	 	(e)	 	No Benefit Plan is a defined benefit plan as defined in Section 3(35) of ERISA,
subject to Title IV of ERISA or is a Multiemployer Plan, nor has Seller or any ERISA
Affiliate, as defined in Section 414 of the Code ever been a sponsor of, or been
obligated to make contributions to, any such Benefit Plan. Neither Seller nor any
ERISA Affiliate has in the most recent six-year period, with respect to any Benefit
Plan which is a Multiemployer Plan, suffered or otherwise caused a “complete
withdrawal” or “partial withdrawal,” as those terms are respectively
defined in Sections 4203 and 5205 of ERISA.

	 	(f)	 	Seller does not have any liability with respect to any Benefit Plan, other than
for contributions, payments or benefits due in the ordinary course under the Benefit
Plans, none of which are overdue. No event has occurred and no condition exists that
would subject Buyer or the assets to be purchased hereunder to any tax, fine, lien,
penalty or other liability imposed by ERISA, the IRC or other applicable laws with
respect to any Benefit Plan.

	 	(g)	 	Seller does not maintain any Benefit Plan under which it would be obligated to
pay benefits, or under which any benefit would become accelerated or vested, because of
the consummation of the transactions contemplated by this Agreement.

	 	(h)	 	Exhibit 3.16 contains a complete and accurate list of all individuals
who have elected (or who are eligible to elect) to continue their coverage under
Seller’s medical, dental or other group health plan in accordance with the continuation
coverage requirements of IRC §4980B.

Section 3.17 Labor Relations. Seller is in compliance in all material respects with
all Legal Requirements relating to the employment of labor and there are no strikes, lockouts, work
stoppages, charges of unfair labor practices, picketing or slow downs, pending or, to Seller’s
Knowledge, threatened against Seller. Seller is not a party to any collective bargaining
agreement, no collective bargaining agreement is currently being negotiated by Seller and no union
or collective bargaining unit represents any of the employees of the Business. No labor union or
similar organization or group of employees has made a demand of Seller for recognition, filed and
served on Seller a petition seeking a representation proceeding, given Seller notice of any
intention to hold an election of a collective bargaining representative or to Seller’s Knowledge
engaged in any organizing activities at any time during the past three years. Except as disclosed
on Exhibit 3.17, within the three year period preceding the date of this Agreement:

	 	(a)	 	Seller has not received any written complaints from any of its current or
former employees that any of Seller’s current or former employees engaged in unlawful
harassment of the complaining employee; and

	 	(b)	 	Seller has not received any written or, to Seller’s Knowledge, oral complaints
made by any of its current or former employees regarding alleged unlawful
discrimination in their employment by Seller.

	 	(c)	 	Seller has not received any written notice of any investigation, action or
proceeding by or before any Governmental Body which relates to allegedly unfair or
discriminatory employment or labor practices by Seller or the violation by Seller of
any Legal Requirement relating to employment or labor practices and no such matters are
pending or, to Seller’s knowledge, threatened.

Section 3.18 Proceedings and Orders. Except as disclosed on Exhibit 3.18,
there are no Proceedings pending or, to Seller’s Knowledge, threatened against Seller, and Seller
is not in default of any Order. There is set forth on Exhibit 3.18 a list of all Orders
that have been imposed and remain outstanding against Seller. The items disclosed on Exhibit
3.18 could not reasonably be expected to have a material adverse effect on the Business.

Section 3.19 Compliance with Legal Requirements; Governmental Authorizations. Except
as disclosed on Exhibit 3.19, Seller has acquired all Governmental Authorizations required
for the operation of the Business, a list of which is set forth on Exhibit 3.19. Except as
disclosed on Exhibit 3.19, all such Governmental Authorizations are transferable to Buyer
without the Consent, approval or other action of any person or Governmental Body. Except as
disclosed on Exhibit 3.19, Seller has not received any notice asserting a violation of any
Legal Requirements or Governmental Authorizations which has not been resolved, or of a potential
revocation, withdrawal, suspension, cancellation, or modification of any Governmental
Authorization, and to the Seller’s Knowledge, there are not pending any investigations involving
possible violations thereof. To Seller’s Knowledge (a) Seller’s business has been conducted in all
respects in compliance with, and Seller has not violated, any Legal Requirements to which it is
subject, (b) to Seller’s Knowledge, no expenditures will be required after the Closing Date in
order to cause the Business as presently conducted to comply with any such Legal Requirements
(except for expenditures in the ordinary course of business consistent with past practice), and (c)
Seller has not received any written notice from any Governmental Body or any third party of any
violation of or potential liability under any Legal Requirement applicable to the Business.

Section 3.20 Sufficiency and Condition of Property. The Property, the Real Property
and the Excluded Property are the only assets, properties, rights and interests owned or used by
Seller in connection with the Business. The items of tangible personal property that constitute
Property owned or used by Seller are in good condition and repair, normal wear and tear excepted.

Section 3.21 Inventory. The Inventory is of a merchantable quality and quantity and
is usable and salable in the ordinary course of business. Since the date of the latest Financial
Statement, Seller has not experienced any difficulties in obtaining, and, to the best of Seller’s
Knowledge, there are no threatened or impending difficulties in obtaining any raw materials or
supplies necessary to the operation of Seller’s business. Except as otherwise disclosed on
Exhibit 3.21, no items of Inventory reflected on the latest Financial Statement were held
by Seller on consignment from others. The Inventory on hand is adequate for the operation of
Seller in accordance with past practice.

Section 3.22 Brokers or Finders. With the exception of KeyBanc Capital Markets Inc.,
Seller has not dealt with any brokers or finders with respect to the purchase of the Property
hereunder, and that there are no brokerage commissions, finders’ fees, or similar payments owed as
a result thereof. Seller has no liability to any broker or finder for which Buyer could become
obligated.

Section 3.23 Environmental Matters. Exhibit 3.23 sets forth a correct and
complete list of all reports of environmental audits or investigations of the Owned Properties
which have been performed on behalf of Seller or to Seller’s Knowledge by Buyer, or which are
otherwise in Seller’s possession, with respect to any real property now owned, leased, occupied or
used by Seller, and Seller has delivered correct and complete copies of such reports to Buyer.
Except as otherwise disclosed on Exhibit 3.23:

	 	(a)	 	no Hazardous Substances have been or are being generated, used, processed,
treated, stored, released, transported or disposed of by Seller, except in compliance
with applicable Environmental Requirements in all material respects;

	 	(b)	 	Seller has not received any unresolved notice, citation, summons, complaint,
demand or other written communication from any Governmental Body or other Person
regarding (i) any alleged violation by Seller of any Environmental Requirement or (ii)
any alleged liability of Seller in connection with any release or remediation of any
Hazardous Substances, and to Seller’s Knowledge, there are no grounds for any of the
foregoing;

	 	(c)	 	no underground storage tanks are located on any real property owned, leased,
occupied or used by Seller;

	 	(d)	 	to Seller’s Knowledge, no Person who has owned, leased, occupied or used any
real property now or previously owned, leased, occupied or used by Seller generated,
used, processed, treated, stored, released or disposed of any Hazardous Substances on
such property; and

	 	(e)	 	to Seller’s Knowledge, no Hazardous Substances are present on or under any real
property (including without limitation in any body of water located thereon or adjacent
thereto or any groundwater located thereunder) now or previously owned, leased,
occupied or used by Seller, or in any improvement located thereon in quantities or at
levels which require reporting or remediation under any applicable Environmental
Requirement.

Section 3.24 Customers and Suppliers. Exhibit 3.24 sets forth a correct and
complete list of each of the top ten (10) customers and suppliers of Seller (in terms of dollar
volume of goods and services purchased or sold) during its fiscal year ended December 31, 2007 and
indicates with respect to each the name and address, dollar volume and nature of the relationship.
Seller is not required to provide any material bonding or other financial security arrangements in
connection with any of its transactions with any such customer or supplier. Since December 31,
2007, no such customer or supplier has terminated its relationship with, or materially reduced its
purchases from or sales to, Seller, and to Seller’s Knowledge no such customer or supplier intends
to terminate its relationship with, or materially reduce its purchases from or sales to, Seller.

Section 3.25 Customer and Consumer Claims. Exhibit 3.25 sets forth the number
of warranty, product liability, defect in product weight or quality and any other claims by
Seller’s customers or consumers, which have been made against Seller on account of such products
and services during the past three years, together with the amount expended by Seller in each of
such years in satisfying such claims, the number of such claims outstanding on the date hereof and
the amount which Seller reasonably believes will be necessary to satisfy such outstanding claims.

Section 3.26 Transactions with Related Parties. Except as otherwise disclosed on
Exhibit 3.26: (a) none of the customers, suppliers, distributors or sales representatives
of the Business are Related Parties; (b) none of the Property is owned or used by or leased to any
Related Parties; (c) no Related Party is a party to any Contract; and (d) no Related Party provides
any legal, accounting or other services to Seller.

Section 3.27 Investment Representations. Seller hereby acknowledges, represents and
warrants to, and agrees with, Buyer as follows:

	 	(a)	 	The Transferred Share Holders are acquiring the Transferred Shares for the
account of each Transferred Share Holder as principal, for investment purposes only,
and not with a view to, or for, resale, distribution or fractionalization thereof, in
whole or in part, and no other person has a direct or indirect beneficial interest in
such Transferred Shares.

	 	(b)	 	Seller and the Transferred Share Holders acknowledge that the Transferred
Shares to be issued in connection with this Agreement will not have been registered
under the Securities Act of 1933, as amended (the “Securities Act”), or any
state securities law by reason of specific exemptions under the provisions thereof that
depend in part upon the other representations and warranties made herein by Seller.
The Transferred Share Holders and Seller understand that Buyer is relying upon Seller’s
representations and warranties for the purpose of determining whether the transactions
contemplated herein meet the requirements for such exemptions. In furtherance thereof,
Seller represents and warrants that the Transferred Share Holders have the financial
ability to bear the economic risk of this investment, have adequate means for providing
for the current needs and contingencies of the Transferred Share Holders and have no
need for liquidity with respect to the investment in the Parent.

	 	(c)	 	The Transferred Share Holders have such knowledge, skill and experience in
business, financial and investment matters so that the Transferred Share Holders are
capable of evaluating the merits and risks of an investment in the Transferred Shares
pursuant to the transactions contemplated by this Agreement. To the extent that the
Transferred Share Holders have deemed it appropriate to do so, the Transferred Share
Holders have relied upon appropriate professional advice regarding the tax, legal and
financial merits and consequences of an investment in the Transferred Shares pursuant
to the transactions contemplated by this Agreement. The Seller represents and warrants
that each of the Transferred Share Holders is an “accredited investor” within the
meaning of Rule 501(a) under the Securities Act.

	 	(d)	 	The Transferred Share Holders understand that there is no guarantee that the
Transferred Share Holders will receive back their investments in the Transferred Shares
or any return on such investment.

	 	(e)	 	Any information which Seller or the Transferred Share Holders have heretofore
furnished or are now furnishing to the Parent with respect to the financial position
and business experience of the Transferred Share Holders, is correct and complete as of
the date of this Agreement and if there should be any material change in such
information prior to the Closing Date, Seller or the Transferred Share Holders will
immediately furnish such revised or corrected information to Buyer.

	 	(f)	 	The Transferred Share Holders have made, either alone or together with their
advisors, such independent investigation of Parent, its management and related matters
as the Transferred Share Holders deem to be, or such advisors have advised to be,
necessary or advisable in connection with an investment in the Parent’s common stock
through the transaction contemplated by this Agreement; and the Transferred Share
Holders and their advisors have received all information and data that the Transferred
Share Holders and such advisors believe to be necessary in order to reach an informed
decision as to the advisability of an investment in the Parent’s common stock pursuant
to the transactions contemplated by this Agreement.

	 	(g)	 	Each Transferred Share Holder has reviewed its financial condition and
commitments, either alone or with such Transferred Share Holder’s advisors, and, based
on such review, such Transferred Share Holder is satisfied that it is capable of
bearing the economic risk of an investment in the Parent’s common stock for the
indefinite future.

	 	(h)	 	Seller and each Transferred Share Holder represents, warrants and agrees that
such Transferred Share Holder will not sell or otherwise transfer the Transferred
Shares without registration under the Securities Act or an exemption therefrom, and
fully understands and agrees that such Transferred Share Holder must bear the economic
risk of the purchase of the Transferred Shares for an indefinite period of time,
because among other reasons, the Transferred Shares have not been registered under the
Securities Act or under the securities laws of any state and, therefore, cannot be
resold, pledged, assigned or otherwise disposed of unless they are subsequently
registered under the Securities Act and under the applicable securities laws of such
states or an exemption from such registration is available. The Transferred Share
Holders are aware of the provisions of Rule 144 promulgated under the Securities Act
that permits limited resale of Transferred Shares purchased in a private placement
subject to the satisfaction of certain conditions. The Transferred Share Holders also
understand that the Parent is under no obligation to register the Transferred Shares on
behalf of the Transferred Share Holders or to assist the Transferred Share Holders in
complying with any exemption from registration under the Securities Act.

	 	(i)	 	No representations or warranties have been made to the Transferred Share
Holders by any officers, directors, employees, agents, or affiliates of the Parent or
any of its Affiliates, other than the representations included in this Agreement.

	 	(j)	 	The certificate(s) evidencing the Transferred Shares to be issued pursuant to
the transaction contemplated by this Agreement shall bear the following legend:

“The shares represented by this certificate have not been registered under
the Securities Act of 1933, as amended, or any state securities laws and may
not be sold or transferred in the absence of such registration or an
exemption therefrom under the Securities Act of 1933, as amended, and
applicable state securities laws.”

Section 3.28 Delivery of Documents . Seller has previously delivered to Buyer correct
and complete copies of each Governmental Authorization, each Environmental Authorization, each
Contract listed on Exhibit 3.13 and each additional agreement, document and instrument
which Buyer or any of Buyer’s representatives has requested in writing. None of the information
furnished by Seller to Buyer or any of its representatives in connection with this Agreement and
the other Transaction Documents, to Seller’s Knowledge, (a) is false or misleading in any material
respect, (b) contains any untrue statement of a material fact or (c) omits any statement of
material fact necessary to make the same not misleading.

Article 4

Buyer’s Representations and Warranties

The Buyer represents and warrants to Seller as follows:

Section 4.1 Corporate Status. Buyer is a corporation duly organized,
validly existing and in good standing under the laws of the Commonwealth of Pennsylvania.

Section 4.2 Authority. All necessary corporate action has been taken by
Buyer with respect to the execution, delivery and performance by Buyer of this Agreement and the
other Transaction Documents and the consummation of the transactions contemplated hereby and
thereby. This Agreement is legally binding upon Buyer, and Buyer has all requisite corporate power,
authority, and capacity to execute and deliver the Agreement and the other Transaction Documents
and to perform all of its obligations hereunder.

Section 4.3 Consent of Third Parties. Except for the third party Consents
referred to in Section 1.6, execution and delivery of this Agreement and the other
Transaction Documents by the Buyer and the consummation of the Contemplated Transactions by the
Buyer does not require the Consent of any third party and will not result in a violation of, or
default under, any contract, Legal Requirement, or Order by which Buyer is bound.

Section 4.4 Proceedings and Orders. There are no Proceedings pending or, to
Buyer’s knowledge, threatened against Buyer that challenge Buyer’s ability to consummate the
Contemplated Transactions, and Buyer is not in default of any Order.

Section 4.5 Brokers or Finders. Buyer has not dealt with any brokers or
finders with respect to the purchase of the Property hereunder, and there are no brokerage
commissions, finders’ fees, or similar payments owed as a result thereof. Buyer has no liability
to any broker or finder for which Seller could become obligated.

Article 5

Covenants of Seller

Unless the Buyer otherwise agrees in writing, Seller covenants as follows:

Section 5.1 Seller’s Closing Certificate. Seller will execute and deliver
at the Closing a certificate which will state that:

	 	(a)	 	Seller has performed and/or complied in all material respects
with all of its covenants and other obligations required by this Agreement or
the other Transaction Documents to be performed or complied with as of the
Closing;

	 	(b)	 	all of the representations and warranties made by Seller in this
Agreement or any other Transaction Document (other than any representations or
warranties that are made as of a date other than the date of this Agreement)
shall have been true and correct as of the date made and shall be true and
accurate in all material respects as of the Closing with the same force and
effect as though made at such time; and

	 	(c)	 	there are attached to the certificate true and complete copies of
the resolutions, duly and validly adopted, respectively, by the shareholders and
board of directors or members of Seller, as appropriate, authorizing the
execution and delivery of this Agreement and the other Transaction Documents and
instruments and the consummation of the Contemplated Transactions and good
standing certificates for Seller from its jurisdiction of formation and each
jurisdiction where Seller is qualified to do business.

Section 5.2 Conduct of Business. Subject to Section 5.3 hereof or
as otherwise contemplated by this Agreement, from the date hereof until the Closing, Seller hereby
agrees to:

	 	(a)	 	perform its respective obligations under all of its Contracts,
and otherwise conduct the Business in the ordinary course consistent with past
practice;

	 	(b)	 	maintain and service, or cause to be maintained and serviced, the
physical assets used in the conduct of the Business consistent with past
practice. Seller shall use its Reasonable Best Efforts to maintain the
relations and goodwill with suppliers, customers and any others having business
relations with Seller;

	 	(c)	 	operate its business in compliance with Legal Requirements;

	 	(d)	 	send Buyer copies of any notices Seller may receive relating to
violations of law, insurance, litigation, condemnation or title matters
respecting the Business or the Real Property, promptly following Seller’s
receipt of the same; and

	 	(e)	 	continue to insure or cause to be insured the Business, the Real
Property and the Property in the manner and to the extent such items were
insured on the date hereof.

Section 5.3 Forbearance by Seller. From the date hereof until the Closing,
Seller shall not, without the written Consent of Buyer, which Consent shall not be unreasonably
withheld or delayed:

	 	(a)	 	incur any material liability other than in the ordinary course of
the Business;

	 	(b)	 	cause or permit to occur any of the events or occurrences
described in Section 3.6;

	 	(c)	 	cancel, release, or assign any obligations owed to Seller or any
claims held by Seller except in the ordinary course of the Business;

	 	(d)	 	hire or terminate any management employee;

	 	(e)	 	increase in any manner the compensation of any of Seller’s
employees (including an increase in employee benefits or the provision of
employee benefits to employees not previously entitled thereto) other than in
the ordinary course of business or pay or agree to pay any bonus, severance or
termination pay or pension or retirement allowance not required by any existing
plan or agreement to any employees, or enter into any new pension, retirement,
or profit sharing plan or agreement or employment agreement; or

(f) agree to do any of the foregoing.

Section 5.4 Location of Property. Seller shall cause all of the Inventory
and Equipment and any tangible personal property leased by Seller or any tangible personal property
to which Seller has a right of possession to be located on the Real Property on the Closing Date.

Section 5.5 Access and Post-Closing Audit(s). From the date hereof until
the Closing, Seller will give the Buyer and its representatives and agents reasonable access to all
assets, records and documents of Seller as Buyer may reasonably request, and will furnish such
financial and operating information as Buyer may reasonably request, including but not limited to
in connection with any post-Closing audit(s) conducted by Buyer. In addition, Buyer shall have the
right to meet employees, suppliers and customers of Seller, accompanied by a representative of
Seller, if such accompaniment is deemed necessary or appropriate by Seller. Seller shall cooperate
in good faith with Buyer in conducting the reviews and other activities described in this
Section 5.5. Seller agrees to use its Reasonable Best Efforts to cooperate with Buyer in
preparation of any post-Closing audit(s), including without limitation those required under any
Legal Requirements at no cost to Seller.

Section 5.6 Real Property Title Insurance. Seller will cause to be
delivered to the Buyer at the Closing the Commitment contemplated by Section 15.1 hereof.

Section 5.7 Reasonable Best Efforts. Seller will use its Reasonable Best
Efforts to obtain the satisfaction of the conditions to Closing specified in Article 6.

Section 5.8 Name Change. Seller shall change its name within 10 days following the
Closing Date to one that does not include Seller’s name or any variation thereof and is reasonably
acceptable to Buyer, and Seller shall deliver evidence of such name change to Buyer within 10 days
of the Closing Date. Seller agrees and acknowledges that Seller shall have no rights to Seller’s
name or variations thereof from and after the Closing Date.

Section 5.9 Non-Competition and Non-Solicitation.

	 	(a)	 	During the five-year period commencing with the Closing Date, neither Seller
nor any of its Affiliates may (i) engage in any Competing Business or (ii) own, be
employed by, provide financing to, consult with or otherwise render services to any
Person who is engaged in any Competing Business; provided, that the ownership of an
equity interest of not more than 5% in a publicly traded entity that is engaged in a
Competing Business is not a violation of this covenant so long as such Person has no
active participation in the business of such entity.

	 	(b)	 	During the five-year period commencing with the Closing Date, neither Seller
nor any of its Affiliates may solicit or induce any employee, supplier, distributor,
sales representative, agent or contractor of Buyer or any of its Affiliates to
terminate his or its employment or other relationship with Buyer or any of its
Affiliates.

	 	(c)	 	If Seller is in breach of any of the provisions of subsections (a) or (b)
above, then the time periods set forth in such subsections will be extended by the
length of time during which Seller is in breach of any of such provisions.

	 	(d)	 	Seller acknowledges and agrees that Buyer would be irreparably damaged if any
of the provisions of this Section are not performed in accordance with their specific
terms or are otherwise breached. Accordingly, Seller agrees that Buyer is entitled to
an injunction or injunctions to prevent breaches of this Section and has the right to
specifically enforce this Section against Seller in addition to any other remedy to
which Buyer may be entitled hereunder, at law or in equity.

As used in this Section the following terms have the following meanings:

“Competing Business” means the processing, recycling, transportation and brokerage of
ferrous and non-ferrous scrap metal conducted by Buyer, Parent or any Affiliate of Parent.

“Product” means any product or service which the Business is marketing, purchasing or
selling on the Closing Date.

“Territory” means those states in the United States in which Seller or any of its
Affiliates is marketing, purchasing or selling any Products on the Closing Date, as listed on
Exhibit 5.9.

Section 5.10 Claims against Third Parties. After the Closing, Seller shall only
pursue claims against a third party, which is a customer or consumer of Buyer, to the extent that
the pursuit of such claim does not and will not be reasonably expected to be detrimental or
otherwise interfere with Buyer’s business as conducted after Closing, unless the same is part of a
cross-claim or counter-claim by Seller asserted before or after Closing. Seller will give Buyer
notice of an intention to pursue any such claims at least ten (10) days prior to the Seller taking
any action with respect to its pursuit of any such claims.

Article 6

Conditions Precedent to Obligations of Buyer

The obligations of Buyer to consummate the transactions contemplated by this Agreement are
subject to the satisfaction (or waiver in writing by Buyer) on or before the Closing, or at an
earlier date as specifically provided otherwise in this Article 6, of each of the following
conditions:

Section 6.1 Representations and Warranties True and Accurate as of
Closing. The representations and warranties of Seller contained herein shall have been true
and correct when made and shall be true and accurate in all material respects (except for those
that are qualified by reference to materiality or material adverse effect, which shall be true
and correct) as of the Closing with the same force and effect as though made at such time except
to the extent that any representations or warranties that are made as of a date other than the
date of this Agreement will be true and accurate as of that date.

Section 6.2 Title.

(a) Seller conveys title to all of the Owned Property to Buyer or its Affiliates free and
clear of all Encumbrances, except the Permitted Encumbrances.

(b) The Title Company shall be willing and able to issue the Title Policies in favor of
Buyer or its Affiliate.

Section 6.3 Performance of Obligations of Seller. Seller will perform in
all material respects all of its respective covenants and other obligations hereunder and under
the other Transaction Documents.

Section 6.4 Legal and Insolvency Proceedings. No Proceedings are commenced
or threatened against Seller relating to this Agreement or the Contemplated Transactions, including
without limitation, any claim in which it is sought to restrain or prohibit the consummation of the
transactions contemplated hereby and any claim that the purchase to be consummated hereunder
constitutes a fraudulent conveyance. No bankruptcy, assignment for the benefit of creditors,
receivership or other Proceeding for the relief of debtors has been commenced by or against Seller.

Section 6.5 Consents. Seller shall have delivered or caused to be delivered to Buyer
all Consents from Governmental Bodies and other third parties that, in the reasonable judgment of
Buyer, are necessary or required to consummate this Agreement and the Contemplated Transactions,
including, without limitation, those set forth on Exhibit 3.4.

Section 6.6 Absence of Liens. Seller shall have received and delivered to Buyer
releases of all Encumbrances on the Property, except the Permitted Encumbrances.

Section 6.7 Employment Agreements. The execution and delivery to Buyer of employment
agreements between Buyer and each of James R. Snyder, Charles B. Snyder and Daniel R. Snyder
commencing on the Closing Date, in substantially the forms attached hereto as Exhibit B
(the “Employment Agreements”).

Section 6.8 Market Conditions. No event or events shall have occurred in the good
faith determination of Buyer resulting in:

(i) neither Buyer nor Parent being able to finance the transaction contemplated
under this Agreement with traditional institutional lenders at rates which would have
been reasonable prior to the occurrence of such event or events; or

(ii) the effective absence of a market for equity securities of companies
comparable to Parent; or

(iii) Parent not being able to sell equity securities at prices that would have
been reasonable prior to such event or events.

Section 6.9 Approval by Board of Directors. The Boards of Directors or Managers, as
applicable, of Seller and the Boards of Directors of Parent and Buyer shall have duly approved this
Agreement and the transactions contemplated hereby on or before the Closing Date.

Section 6.10 Due Diligence; Board Approval. Buyer shall be satisfied with the results
of its due diligence, including without limitation, financial, legal, and environmental reviews,
including without limitation Phase I and, if necessary, Phase II environmental reports with respect
to the Real Property owned or leased by Seller and used in its business, and investigations by
Buyer’s accountants, attorneys, appraisers, and others of Seller’s business and operations on or
before the Closing Date.

Section 6.11 HSR Act. All required filings under the HSR Act shall have been
completed and all applicable time limitations under such Act shall have expired without a request
for further information by the relevant federal authorities under such Act, or in the event of such
a request for further information, the expiration of all applicable time limitations under the HSR
Act shall have occurred without the objection of such federal authorities.

Article 7

Covenants of Buyer

Section 7.1 Buyer’s Closing Certificate. Buyer will execute and deliver to
Seller at the Closing a certificate which will state that:

	 	(a)	 	all of the representations and warranties made by Buyer in this
Agreement or any other Transaction Document shall be true and correct as of the
date made and shall be true and accurate in all material respects as of the
Closing with the same force and effect as though made at such time;

	 	(b)	 	Buyer shall have performed and/or complied in all material
respects with all of its covenants and other obligations required by this
Agreement or the other Transaction Documents to be performed or complied with by
Buyer as of the Closing; and

	 	(c)	 	there is attached to the certificate a true and complete copy of
the resolutions, duly and validly adopted, respectively by the shareholders and
board of directors of Buyer, Realty and Colliers, authorizing the execution and
delivery of this Agreement and the related documents and instruments and the
consummation of the Contemplated Transactions.

Section 7.2 Reasonable Best Efforts. Buyer will use its Reasonable Best
Efforts to obtain the satisfaction of the conditions to Closing specified in Article 6 and
Article 8.

Section 7.3 Administration of Seller’s Receivables. Buyer will (a)
reasonably assist and cooperate with Seller in the collection of all of Seller’s accounts
receivables that are Excluded Property, (b) on a monthly basis bill all such unpaid receivables on
behalf of Seller for a period of 12 months after the Closing Date, and (c) will deposit into an
account designated by Seller all payments it receives upon such receivables. In furtherance of the
foregoing, Seller hereby designates Buyer as its attorney-in-fact to endorse the name of Seller on
any checks or other evidences of payment received by Buyer with respect to any receivable. Buyer
shall also assist Seller in timely identifying and paying any of its accounts payable still
outstanding on the Closing Date at no out-of-pocket cost to Buyer. In the event that Buyer incurs
any out-of-pocket costs in connection with the performance of its obligations pursuant to this
Section 7.3, Seller shall reimburse Buyer for such out-of-pocket costs. Notwithstanding
the above provisions in this Section 7.3, at the option of Seller and upon notice to Buyer,
Seller shall have the right to collect its own accounts receivables.

Article 8

Conditions Precedent to Obligations of Seller

The obligations of Seller to consummate the transactions contemplated by this Agreement are
subject to the satisfaction (or waiver in writing by Seller) on or before the Closing of each of
the following conditions:

Section 8.1 Representations and Warranties True and Accurate as of Closing.
The representations and warranties of the Buyer contained herein shall have been true and correct
when made and shall be true and accurate in all material respects as of the Closing with the same
force and effect as though made at such time.

Section 8.2 Payment of Purchase Price. Buyer shall pay the Purchase Price
in the amount and manner specified herein and assume the Assumed Liabilities pursuant to the Bill
of Sale.

Section 8.3 Offer of Employment. Buyer shall have offered employment to all
of the Transferred Employees, as hereinafter defined, on the Closing Date, said employment to
commence at the Closing, with terms and conditions offered by the Seller as of December 20, 2007,
subject to Buyer’s review of such terms and conditions; provided, however that acceptance by the
Transferred Employees of such offers is not a condition to Closing, other than for those employees
subject to the Employment Agreements.

Section 8.4 HSR Act. All required filings under the HSR Act shall have been completed
and all applicable time limitations under such Act shall have expired without a request for further
information by the relevant federal authorities under such Act, or in the event of such a request
for further information, the expiration of all applicable time limitations under the HSR Act shall
have occurred without the objection of such federal authorities.

Article 9

Closing

Section 9.1 Time and Place. The closing (“Closing”) of the sale of
the Property and the Real Property and the Contemplated Transactions will take place at the offices
of McCann, Garland, Ridall & Burke, 11 Stanwix Street, Suite 2125, Pittsburgh, PA 15222 at 9 A.M.
on April 30, 2008 and at such other place as the parties may agree (“Closing Date”). The
Closing shall be effective as of the commencement of business on the Closing Date (the
“Effective Time”).

Section 9.2 Deliveries by Seller. At the Closing, Seller shall deliver, or
cause to be delivered, to the Buyer each of the following duly executed as appropriate:

	 	(a)	 	Deeds to the Owned Properties;

	 	(b)	 	the Bill of Sale;

	 	(c)	 	the documents required to release any encumbrances on the
Property other than the Permitted Encumbrances;

	 	(d)	 	the Seller’s Closing certificate required hereby;

	 	(e)	 	certificates of title for any titled vehicles included in the
Property, duly endorsed for transfer to Buyer;

	 	(f)	 	any Intellectual Property Assignments;

	 	(g)	 	a Settlement Statement to be delivered to the Title Company that,
among other things, identifies the prorations required hereunder (the
“Settlement Statement”);

	 	(h)	 	all closing affidavits reasonably requested by the Title Company;

	 	(i)	 	the Employment Agreements;

	 	(j)	 	the Transferred Share Letters executed by each Transferred Share
Holder;

	 	(k)	 	the Platt Lease executed by Platt Properties;

	 	(l)	 	the Escrow Agreement executed by Seller; and

	 	(m)	 	any other documents, instruments or certificates reasonably
requested by the Buyer.

Section 9.3 Deliveries by Buyer. At the Closing, the Buyer shall deliver to
Seller each of the following duly executed as appropriate:

	 	(a)	 	the Purchase Price, in certified funds;

	 	(b)	 	the Buyer’s Closing certificate required hereby;

	 	(c)	 	the Settlement Statement;

	 	(d)	 	any Intellectual Property Assignments;

	 	(e)	 	the Employment Agreements;

	 	(f)	 	the Transferred Share Letters executed by Parent;

	 	(g)	 	the Platt Lease executed by Buyer;

	 	(h)	 	the Escrow Agreement executed by Seller; and

	 	(i)	 	any other documents, instruments or certificates reasonably
requested by Seller.

Section 9.4 Prorations. Seller and Buyer will use their Reasonable Best
Efforts to arrange the transfer of all utility services used by Seller as of the Effective Time.
Utility services that are not transferred as of the Effective Time, Real Property Taxes and
assessments on the Real Property, personal property Taxes, and Prepaids are to be prorated as of
the Effective Time on the basis of the fiscal year for which the same have been assessed. Real
Property Taxes will be established in accordance with the last available tax duplicate and such
prorations shall be deemed final at Closing. The net prorations of Taxes and Prepaids under this
Section 9.4 is to adjust the amount of the payment to be made on the Closing Date. The
allocation of utility charges provided for in this Section 9.4 will occur within five days
of notice from Seller to Buyer of the availability of information sufficient to effect the
proration.

Section 9.5 Additional Actions. Buyer and Seller hereby agree to execute
and deliver or cause to be executed and delivered all additional documents and take all actions
necessary or appropriate to consummate any and all of the Contemplated Transactions hereby. Seller
shall deliver or cause to be delivered and Buyer shall be entitled to obtain physical possession of
all of the Property and the Real Property on the Closing Date.

Section 9.6 Closing Costs. Costs incurred in connection with the Real
Property including obtaining title policies, title commitments, title company fees, escrow charges,
transfer taxes and costs of the survey(s) shall be paid and allocated in accordance with
Article 15 of this Agreement.

Article 10

Indemnification

Section 10.1 Indemnification by Seller. The Seller shall defend, indemnify
and hold the Buyer and its shareholders, Affiliates and subsidiaries (collectively the “Buyer
Indemnified Parties”) harmless from any Damages suffered or incurred by any Buyer Indemnified
Party including reasonable attorneys’ fees resulting from:

	 	(a)	 	the falsity, breach or inaccuracy of any material representations
or warranties made by Seller herein or in any other Transaction Document;

	 	(b)	 	the failure of Seller to perform any of its covenants or other
obligations hereunder or under any other Transaction Document;

	 	(c)	 	any brokerage or finders’ fees or commissions or similar payments
based upon any agreement made, or alleged to have been made, by Seller in
connection with any of the Contemplated Transactions; or

	 	(d)	 	the Retained Liabilities.

Section 10.2 Indemnification by Buyer. The Buyer shall defend, indemnify,
and hold Seller and its respective members, shareholders, Affiliates and subsidiaries
(collectively, the “Seller Indemnified Parties”) harmless from any Damages suffered or
incurred by any Seller Indemnified Party including reasonable attorneys’ fees resulting from:

	 	(a)	 	the falsity, breach or inaccuracy of any material representations
or warranties made by the Buyer herein or in any other Transaction Document;

	 	(b)	 	the failure by Buyer to perform any of its covenants or other
obligations hereunder, including the discharge of the Assumed Liabilities, or
under any other Transaction Document;

	 	(c)	 	any brokerage or finders’ fees or commissions or similar payments
based upon any agreement made, or alleged to have been made, by Buyer in
connection with any of the Contemplated Transactions; or

	 	(d)	 	the operation of the Business or any other activities of the
Buyer after the Closing Date.

Section 10.3 Time Limitations. If the Closing occurs, neither party will
have any liability whatsoever under Section 10.1 or Section 10.2 of this Agreement
(or otherwise) unless, within eighteen (18) months after the Closing Date, the party requesting
indemnification notifies the indemnifying party of the claim for indemnification specifying the
factual basis thereof in reasonable detail, in which case the indemnifying party will have
liability only for those matters expressly covered in such notice. Notwithstanding anything herein
to the contrary, Seller will have liability for indemnification claims under Section 10.1
for a breach of (i) Section 3.1, Section 3.2, Section 3.3, Section
3.4, Section 3.9, Section 3.22 and Section 3.27 made by the party
seeking indemnification at any time following the Closing Date, (ii) Section 3.8 and
Section 3.16 made by the party seeking indemnification at any time from the Closing Date
until sixty (60) days after the running of the statute of limitations to which a particular claim
relates and (iii) Section 3.23 made by the party seeking indemnification at any time until
the third anniversary of the Closing Date.

Section 10.4 Limitations on Seller’s Indemnification Obligations. The
Seller will be liable to the Buyer Indemnified Parties for Damages under Section 10.1(a) of
this Agreement to the extent, and only to the extent, that the aggregate amount of Damages suffered
by Buyer Indemnified Parties for which they are entitled to indemnification pursuant to Section
10.1(a) exceeds $250,000 (the “Deductible Amount”), and then only for the amount by
which such Damages exceed the Deductible Amount. The Seller’s maximum aggregate liability pursuant
to Section 10.1 shall be $10,000,000. The limitations on liability set forth in this
paragraph shall not apply to any indemnification obligations pursuant to (a) Section
10.1(b), Section 10.1(c) or Section 10.1(d) of this Agreement, (b) material
breaches of representations or warranties set forth in Section 3.1, Section 3.2,
Section 3.3, Section 3.4, Section 3.8, Section 3.9, Section
3.16, Section 3.22 and Section 3.27 of this Agreement, (c) material breaches of
representations or warranties set forth in any of the Transaction Documents relating to title to
and ownership of the Property or the Real Property, or (d) breaches of Seller’s obligations
pursuant to Section 12.19 of this Agreement. An indemnified party shall be deemed to have
suffered Damages as a result of or arising from the matters referred to in Section 10.1 if
the same shall be suffered by any Affiliate of the indemnified party.

Section 10.5 Limitations on Buyer Indemnification Obligations. The Buyer
will be liable to the Seller Indemnified Parties for Damages under Section 10.2(a) of this
Agreement to the extent, and only to the extent, that the aggregate amount of Damages suffered by
Seller Indemnified Parties for which they are entitled to indemnification pursuant to Section
10.2(a) exceeds the Deductible Amount, and then only for the amount by which such Damages
exceed the Deductible Amount. The Buyer’s maximum aggregate liability pursuant to Section
10.2 shall be $10,000,000. The limitations on liability set forth in this paragraph shall not
apply to any indemnification obligations pursuant to (a) Section 10.2(b), Section
10.2(c) or Section 10.2(d) of this Agreement, (b) material breaches of representations
or warranties set forth in Section 4.1 and the first sentence of Section 4.2 of
this Agreement, or (c) breaches of Buyer’s obligations pursuant to Section 12.19 and
Article 14 of this Agreement. An indemnified party shall be deemed to have suffered
Damages as a result of or arising from the matters referred to in Section 10.2 if the same
shall be suffered by any Affiliate of the indemnified party.

Section 10.6 Procedure for Indemnification – Third Party Claims.

	 	(a)	 	Promptly after receipt by an indemnified party under Section 10.1 or
Section 10.2 of notice of any claim (that is the subject of indemnification
under this Agreement) against the indemnified party by a third party (“Third Party
Claim”) or the commencement of any Proceeding against it with respect to a Third
Party Claim, the indemnified party shall, if a claim is to be made against an
indemnifying party with respect thereto, give notice to the indemnifying party of such
Third Party Claim and of the commencement of any Proceeding with respect thereto.

	 	(b)	 	The indemnifying party will be entitled to participate in the defense of any
Third Party Claim Proceeding of which it is notified under Section 10.6(a) and,
to the extent that it wishes (unless the indemnifying party is also a party to such
Proceeding and the indemnified party’s counsel submits to the indemnifying party a
written opinion from the indemnified party’s counsel that joint representation would
violate the applicable rules of professional responsibility) assume the defense of such
Proceeding with counsel chosen by the indemnifying party. After notice from the
indemnifying party to the indemnified party of its election to assume the defense of a
Proceeding:

	 	(1)	 	the indemnifying party will not (subject to the proviso in
Section 10.6(b)) be liable to the indemnified party for any fees of the
indemnified party’s counsel, or any other expenses of the indemnified party
with respect to the defense of such Proceeding, and

	 	(2)	 	no compromise or settlement of such Third Party Claim may be
effected by the indemnified party without the indemnifying party’s Consent.

	 	(c)	 	The indemnifying party may resolve the Third Party Claim without the
indemnified party’s Consent so long as the sole relief sought by the third party is
monetary Damages that are paid in full by the indemnifying party.

	 	(d)	 	The foregoing notwithstanding, if a claim for indemnification by an indemnified
party results from a Third Party Claim and encompasses matters for which the
indemnified party is entitled to indemnification from an indemnifying party as well as
matters for which the indemnified party is not entitled to indemnification from the
indemnifying party (a “Hybrid Claim”), then the indemnifying party only will be
responsible for that portion of the costs of defending such Hybrid Claim as is
proportionate to that portion thereof for which indemnification is applicable, and the
indemnified party will be responsible for that portion of the defense costs
proportionate to that portion of the Hybrid Claim for which indemnification is not
applicable.

Section 10.7 Procedure for Indemnification – Other Claims. A claim for
indemnification for any matter not involving a Third Party Claim may be asserted by notice to the
party from whom indemnification is sought.

Section 10.8 Other Limitations on Indemnification Provisions.

	 	(a)	 	Any payment made by an indemnifying party to an indemnified party pursuant to
this Article 10 (i) shall be net of any insurance proceeds realized by and paid
to the indemnified party in respect of such claim and (ii) shall be reduced by an
amount equal to any tax benefits realized by the indemnified party which are
attributable to such claim.

	 	(b)	 	No indemnified party shall be entitled to recover from an indemnifying party
for any amount as to which indemnification is provided under this Agreement in excess
of the actual Damages suffered by such indemnified party, and the parties waive any
right to recover consequential, special, incidental, punitive or exemplary damages
arising in connection with or with respect to the indemnification provisions hereof.

	 	(c)	 	Each Person entitled to indemnification hereunder shall take all reasonable
steps to mitigate all Damages after becoming aware of any event which could reasonably
be expected to give rise to any Damages that are indemnifiable or recoverable
hereunder.

Article 11

Termination

Section 11.1 Termination Events. This Agreement may, by notice given prior
to or at the Closing, be terminated:

	 	(a)	 	by Buyer, if a Breach of any provision of this Agreement is
committed by the Seller, and such Breach is not waived or cured within 30 days
after notice thereof; provided, however, that such notice and cure right shall
not be deemed to allow the Seller to extend the Contemplated Transactions to a
date after the scheduled Closing Date;

	 	(b)	 	by Seller, if a Breach of any provision of this Agreement is
committed by Buyer, and such Breach is not waived or cured within 30 days after
notice thereof; provided, however, that such notice and cure right shall not be
deemed to allow the Buyer to extend the Contemplated Transactions to a date
after the scheduled Closing Date;

	 	(c)	 	by Buyer, if any of the conditions in Article 6 are not
satisfied as of the Closing Date or such earlier date as specifically provided
in Article 6 hereof, or if satisfaction of such a condition is or becomes
impossible (other than through the failure of Buyer to comply with its
obligations under this Agreement), and Buyer has not waived such condition on or
before the Closing Date or such earlier date as specifically provided in Article
6 hereof;

	 	(d)	 	by Seller if any of the conditions in Section 8 are not
satisfied as of the Closing Date, or if satisfaction of such a condition is or
becomes impossible (other than through the failure of Seller to comply with its
obligations under this Agreement) and Seller has not waived such condition on or
before the Closing Date; or

	 	(e)	 	by either party upon written notice to the other party if the
Closing has not occurred on or before April 30, 2008, provided in each case that
the party seeking termination shall not then be in breach of this Agreement.

Section 11.2 Effect of Termination. In the event of the termination of this
Agreement pursuant to Section 11.1, this Agreement shall forthwith become null and void and
have no effect, without any liability on the part of any party hereto and all rights and
obligations of any party hereto shall cease; provided, however, that (a) the provisions of this
Section 11.2, and Sections  12.1, 12.3, 12.6,
12.8, 12.11, 12.12, 12.13, 12.14, 12.15,
12.17 and 12.19 will survive termination and (b) nothing contained in this
Section 11.2 shall relieve any party from liability for any fraud, intentional
misrepresentation or willful misconduct or material breach of this Agreement. Notwithstanding
anything in this Agreement to the contrary, in the event of the termination of this Agreement by
Seller pursuant to Section 11.1(b), Section 11.1(d) or in the event of the
termination of this Agreement by Seller pursuant to Section 11.1(e) due to neither Buyer
nor Parent having received the commitments from the lenders as specified in Section 6.8 on
or before the Closing Date; then in either such event, Buyer shall forfeit the Deposit, and the
Seller shall be entitled, as its sole remedy hereunder, to retain the Deposit as liquidated damages
and its sole remedy against Buyer for termination of this Agreement and shall not be entitled to
exercise any other legal or equitable remedies against the Buyer.

Article 12

Miscellaneous Provisions

Section 12.1 Construction. All underlined references to “Section”
or “Sections” refer to the corresponding Section or Sections of this
Agreement and all references to “Exhibit” or “Exhibits” refer to the
Exhibits attached to this Agreement. The Article and Section headings in this Agreement and
the Recitals at the beginning of this Agreement are for convenience only; they form no part of this
Agreement and shall not affect its interpretation. All words used in this Agreement will be
construed to be of such gender or number as the circumstances require. Unless otherwise expressly
provided, the word “including” does not limit the preceding words or terms. In computing
the number of days for purposes of this Agreement, all days shall be counted, including Saturdays,
Sundays and holidays; provided, however, that if the final day of any time period falls on a
Saturday, Sunday or holiday on which national banks are or may elect to be closed and on which
governmental offices of the Commonwealth of Pennsylvania are not open generally for non-emergency
business, then the final day shall be deemed to be the next day which is not a Saturday, Sunday or
such holiday.

Section 12.2 Survival of Representations and Warranties. The
representations and warranties made herein and in the other Transaction Documents will survive for
a period of eighteen months following the Closing. After the Closing, a party’s sole remedy for a
breach of a representation or warranty will be the indemnification provisions of Sections
10.1 or 10.2 as applicable.

Section 12.3 Notices. All notices and other communications under this
Agreement must be in writing and will be considered to be effective as to a party:

	 	(a)	 	on the date delivered to that party, at the address for that
party set forth below, regardless of the means of delivery;

	 	(b)	 	on the date sent by facsimile transmission (with electronic
confirmation) to a party for whom a facsimile number is set forth below; or

	 	(c)	 	three days after mailing by U. S. certified or registered mail
(postage prepaid and return receipt requested) at the address for that party set
forth below.

A copy of the notice or other communication to a party under this Agreement must be sent to the
party’s counsel at the address set forth below. A delivery under this Agreement will be considered
to be effective when made even though a party refuses to receive the communication.

	 	 	 	 	 	 	 	 	 
	Seller:	 	C/O Grand Avenue Incorporated
	 
	 	ATTN: President	 	 	 	 
	 
	 	3100 Grand Avenue	 	 	 	 
	 
	 	Pittsburgh, PA 15225	 	 	 	 
	 
	 	FAX: 412-771-3340	 	 	 	 
	 	 	Email: jim.snyder@snydergroup.com
	Seller’s Counsel:	 	Edward C. Wachter, Jr., Esquire
	 	 	McCann Garland Ridall & Burke
	 
	 	11 Stanwix Street	 	 	 	 
	 
	 	Suite 2125	 	 	 	 
	 
	 	Pittsburgh, PA 15222	 	 	 	 
	 
	 	FAX: 412-566-1817	 	 	 	 
	 	 	Email:edwardwachter@msn.com
	Buyer:
	 	C/O Metalico, Inc.	 	 	 	 
	 
	 	186 North Ave. East	 	 	 	 
	 
	 	Cranford, NJ  07016	 	 	 	 
	 
	 	Fax:  908-497-1097	 	 	 	 
	 	 	Email: ceaguero@metalico.com
	Buyer’s Counsel:
	 	Arnold S. Graber, Esq.	 	 	 	 
	 	 	Executive Vice President and General Counsel
	 
	 	Metalico, Inc.	 	 	 	 
	 
	 	186 North Ave. East	 	 	 	 
	 
	 	Cranford, NJ 07016	 	 	 	 
	 
	 	FAX: 908-497-1097	 	 	 	 
	 
	 	Email:	 	asgraber@metalico.com
	With a copy to:
	 	Mark I. Baseman, Esq.	 	 	 	 
	 
	 	Cohen & Grigsby, P.C.	 	 	 	 
	 	 	11 Stanwix Street, 15th Floor
	 
	 	Pittsburgh, PA  15222	 	 	 	 
	 
	 	FAX: 412-209-1998	 	 	 	 
	 
	 	Email:	 	mbaseman@cohenlaw.com

A party or its counsel may change its facsimile number or address for communications under this
Agreement by giving the other party and counsel notice of the change in the manner specified above.
If a party changes the party’s address or facsimile number and does not notify the other party in
the manner specified above, a notice or other communication will be effective three days after it
is sent by U. S. regular mail, postage prepaid, to the party’s address or such other address as to
which the other party has been notified in the manner specified above. Notice provided to a
party’s counsel does not constitute notice to the party.

Section 12.4 Successors and Assigns. None of the parties may assign their
rights or delegate their duties hereunder, except that after Closing,(i) the Seller may assign its
rights and obligations hereunder to one or more of its shareholders or other Affiliates or
subsidiaries, provided that no such assignment shall relieve the Seller of its obligations
hereunder, and (ii) Buyer may assign its rights and obligations to one or more Affiliates or
wholly-owned subsidiaries, provided that no such assignment shall relieve Buyer of its obligations
hereunder. Any attempt to assign this Agreement without the written Consent of the other party
shall be void and invalid, the assignee shall acquire no rights hereunder and the other party shall
not recognize this assignment. This Agreement will be binding upon and inure to the benefit of the
successors, and permitted assigns of the parties hereto.

Section 12.5 No Third Party Beneficiaries. Except as provided in
Section 12.4, this Agreement does not confer upon or give to any person other than the
parties to this Agreement any rights or benefits hereunder.

Section 12.6 Governing Law; Jurisdiction. This Agreement and all questions
relating to its validity, interpretation, performance and enforcement (including, without
limitation, provisions concerning limitations of actions) shall be governed by and construed in
accordance with the domestic laws of the Commonwealth of Pennsylvania, notwithstanding any
choice-of-laws doctrine of such jurisdiction or any other jurisdiction which ordinarily would cause
the substantive law of another jurisdiction to apply, without the aid of any canon, custom or rule
of law requiring construction against the draftsman. Any action or proceeding seeking to enforce
any provision of, or based on any right arising out of, this Agreement shall be brought against any
of the parties only in the courts of the Commonwealth of Pennsylvania, County of Allegheny or, if
it has or can acquire the necessary jurisdiction, in the United States District Court for the
Western District of Pennsylvania, and each of the parties Consents to the jurisdiction of such
courts (and of the appropriate appellate courts) in any such action or proceeding and irrevocably
waives any objection based upon inconvenience of the forum or otherwise 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.

Section 12.7 Counterparts and Facsimiles. This Agreement may be executed in
separate counterparts with different parties signing different counterparts so long as each party
signs at least one counterpart. A party’s execution of this Agreement, or any other document
relating to the transactions to be consummated hereunder, may be evidenced by facsimile or other
method of electronic transmission. A party’s delivery of this Agreement, or any other document
relating to the transactions to be consummated under this Agreement, may be affected by facsimile
or other method of electronic transmission.

Section 12.8 Waivers. A party to this Agreement will not be bound by a
waiver of any right or remedy that inures to the party’s benefit hereunder unless the waiver is in
a writing signed by the party. A failure by a party to enforce any right or seek any remedy for a
Breach of this Agreement by the other party does not constitute a waiver of the first party’s right
to enforce that right or seek that remedy with respect to that or any other Breach. The waiver by
a party of a Breach of any provision of this Agreement is not a waiver of any subsequent Breach.
Notwithstanding the foregoing, once Closing has occurred pursuant to this Agreement, all conditions
to be satisfied on or before the Closing Date shall be deemed waived.

Section 12.9 Books and Records. Seller will retain all books, records and
other documents pertaining to its Business in existence on the Closing Date and make the same
available after the Closing Date for inspection and copying by Buyer or any representative of Buyer
at Buyer’s expense during the normal business hours of Seller, upon reasonable request and upon
reasonable notice. No such books, records or documents shall be destroyed by Seller for a period of
five years following the Closing Date without first advising Buyer in writing and giving Buyer a
reasonable opportunity to obtain possession or make copies thereof. Without limiting the generality
of the foregoing, Seller will make available to Buyer and its representatives all information
deemed necessary or desirable by Buyer in preparing its financial statements and preparing and
filing its tax returns and conducting or defending any audits in connection therewith. For a period
of five years after the Closing, following delivery of reasonable written notice by Seller’s
representatives, Buyer will during regular business hours provide Seller’s representatives with
access to any financial and accounting books and records that Seller has delivered to the Buyer.
For purposes hereof, access to books and records includes the right to make copies thereof and to
obtain answers to inquiries to Buyer’s executive officers about such books and records.

Section 12.10 Time of Essence. With regard to all dates and time periods
set forth or referred to in this Agreement, time is of the essence.

Section 12.11 Public Announcement. Neither Seller nor Buyer nor any of
their respective shareholders, Affiliates or subsidiaries shall make any public statement or
release concerning this Agreement or the Contemplated Transactions except for such written
information as shall have been approved in writing as to form and content by the other party
hereto, provided, however, that either Seller or Buyer may make any public disclosure it believes
in good faith is required by applicable law (in which case the discloser shall use its reasonable
best efforts to advise the other prior to making the disclosure).

Section 12.12 Integration and Amendment. This Agreement supersedes all
prior discussions between the parties with respect to the subject matter of this Agreement. This
Agreement and the Exhibits and Schedules attached to this instrument constitute the entire
agreement of the parties with respect to the subject matter thereof, and may not be amended or
modified except by a writing signed by the party against whom the amendment is to be enforced.

Section 12.13 Joint Preparation. This Agreement was prepared jointly by the
parties and any uncertainty or ambiguity existing herein may not be interpreted against any party.

Section 12.14 Non-foreign Status. Each party represents and warrants that
it is a United States person so that payments made to the party under this Agreement are not
subject to income Tax withholding under IRC §§ 1441, 1442, 1443, 1445 and 1446.

Section 12.15 Confidentiality.

	 	(a)	 	Between the date of this Agreement and the Closing Date, the
Confidentiality Letter Agreement executed by Parent and KeyBanc Capital Markets
Inc. dated September 10, 2007 will continue in effect, and such agreement, as
modified is incorporated herein by this reference thereto. The foregoing letter
agreement will terminate if the Contemplated Transactions are consummated.
Thereafter, neither Seller nor the Buyer, nor any of their respective
shareholders, Affiliates or subsidiaries shall disclose to any person (other
than such party’s representatives with a reason to know) in any manner, directly
or indirectly, any confidential or proprietary information or data or trade
secrets of the other party or any of its Affiliates (“Confidential
Information”), or use or assist any person (other than any representative of
the Buyer, Seller or an Affiliate thereof with a reason to know), to use, in any
manner, directly or indirectly, any Confidential Information. As used in this
Agreement, Confidential Information includes but is not limited to any and all
(i) information regarding this Agreement, the documents contemplated hereby and
the negotiations in respect thereof and (ii) subject to the successful
consummation of the Closing, all confidential, proprietary, and similar
information of the Business.

The provisions of this Section 12.15 do not apply to:

	 	(i)	 	the disclosure of information to a third party who is
already aware of such information;

	 	(ii)	 	the disclosure or use of information that becomes
publicly available through no fault of Seller or Buyer;

	 	(iii)	 	the disclosure of information that is necessary or
appropriate to make any filing or obtain any Consent or approval required
for the consummation of the Transactions; or

	 	(iv)	 	the furnishing of information as required by a
Government Body or Legal Requirement or as necessary or appropriate in
connection with any Proceeding.

	 	(b)	 	If any party or any of its representatives is requested or
required by law to disclose any of the information, the party receiving such
request will provide the other party with prompt written notice of such request
or requirement so that such other party may seek a protective order or other
appropriate relief to ensure that any information so disclosed is maintained in
confidence to the maximum extent possible by the agency or other Person
receiving the information or, in the sole discretion of such other party, to
waive compliance with the provisions of this Agreement. In any such case, the
party receiving such request will use its Reasonable Best Efforts in cooperation
with such other party or otherwise to avoid or minimize the required disclosure
and/or to obtain such protective order or other relief. Such written notice
shall be given no later than 15 days prior to the date scheduled for the legally
required disclosure, provided that, if the requested party is given less than 15
days to make such disclosure, such written notice shall be given as soon as
practicable after its receipt of such request. In the event that such
protective order or other remedy is not obtained, the requested party agrees
that it will furnish only that portion of the information that it is legally
obligated to disclose.

	 	(c)	 	If the Contemplated Transactions are not consummated, Buyer will
return or destroy as much of the written information provided by Seller or
Seller’s representatives as Seller requests and will not thereafter use such
information obtained from Seller for any purpose, all as more fully provided in
the Confidentiality Letter Agreement described above.

	 	(d)	 	The parties acknowledge that money Damages would be an inadequate
remedy for a Breach of this Section 12.15 and that, in addition to money
Damages, an aggrieved party should be entitled to injunctive relief.

Section 12.16 Disclosure Exhibits. The disclosures in the Exhibits to this
Agreement relate to the representations and warranties in the Section of the Agreement to which
they expressly relate and to any other representation or warranty in this Agreement to which the
relevance of the disclosure is apparent.

Section 12.17 Severability. If any provision of this Agreement is held
invalid or unenforceable by any court of competent jurisdiction, the other provisions of this
Agreement will remain in full force and effect. Any provision of this Agreement held invalid or
unenforceable only in part or degree will remain in full force and effect to the extent not held
invalid or unenforceable. The parties Consent to the reformation of any invalid or unenforceable
provision so that it is enforceable to the maximum extent permitted by law.

Section 12.18 Disclaimer. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES OF
SELLER EXPRESSLY SET FORTH IN THIS AGREEMENT AND IN THE OTHER TRANSACTION DOCUMENTS, THE BUYER
ACKNOWLEDGES TO AND AGREES WITH SELLER AS FOLLOWS:

	 	(a)	 	THAT THE BUYER IS PURCHASING THE PROPERTY WITHOUT ANY WARRANTIES
OR GUARANTEES, EITHER EXPRESS OR IMPLIED, AS TO ITS CONDITION, FITNESS FOR ANY
PARTICULAR PURPOSE, MERCHANTABILITY, OR ANY OTHER WARRANTY OF ANY KIND, NATURE,
OR TYPE WHATSOEVER FROM OR ON BEHALF OF SELLER,

	 	(b)	 	SELLER SPECIFICALLY DISCLAIMS ANY WARRANTY OR GUARANTY, ORAL OR
WRITTEN, PAST OR PRESENT, EXPRESS OR IMPLIED, CONCERNING (A) THE VALUE, NATURE,
QUALITY OR CONDITION OF THE PROPERTY, INCLUDING, WITHOUT LIMITATION, THE WATER,
SOIL AND GEOLOGY, (B) THE INCOME TO BE DERIVED FROM THE PROPERTY, (C) THE
SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES AND USES WHICH THE BUYER
MAY CONDUCT THEREON, (D) THE COMPLIANCE OF OR BY THE PROPERTY OR ITS OPERATION
WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL
BODY, (E) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY, (F) THE MANNER OR QUALITY OF
THE CONSTRUCTION OR MATERIALS, IF ANY, INCORPORATED INTO THE PROPERTY, (G) THE
MANNER, QUALITY, STATE OF REPAIR OR LACK OF REPAIR OF THE PROPERTY, (H) THE
PRESENCE OR ABSENCE OF HAZARDOUS SUBSTANCES AT, ON, UNDER, OR ADJACENT TO THE
PROPERTY OR ANY OTHER ENVIRONMENTAL MATTER (INCLUDING ANY LIABILITY UNDER
CERCLA) OR CONDITION OF THE PROPERTY, OR (I) ANY OTHER MATTER WITH RESPECT TO
THE PROPERTY.

	 	(c)	 	ANY INFORMATION PROVIDED ON BEHALF OF SELLER BY AN UNRELATED
THIRD PARTY WITH RESPECT TO THE PROPERTY WAS OBTAINED FROM A VARIETY OF SOURCES
AND SELLER HAS NOT MADE ANY INDEPENDENT INVESTIGATION OR VERIFICATION OF SUCH
INFORMATION AND MAKES NO WARRANTIES AS TO THE ACCURACY OR COMPLETENESS OF SUCH
INFORMATION.

	 	(d)	 	SELLER SHALL NOT BE LIABLE UNDER ANY STRICT TORT LIABILITY THEORY
AND SELLER SHALL NOT BE LIABLE FOR ANY CONSEQUENTIAL, SPECIAL, INCIDENTAL,
PUNITIVE OR EXEMPLARY DAMAGES. FURTHER, SELLER SHALL NOT BE LIABLE OR BOUND IN
ANY MANNER BY ANY ORAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION
PERTAINING TO THE PROPERTY, OR THE OPERATION THEREOF, FURNISHED BY ANY
INVESTMENT BANKER, AGENT, EMPLOYEE, SERVANT OR OTHER PERSON EXCEPT FOR THE
REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT AND THE OTHER
TRANSACTION DOCUMENTS.

Section 12.19 Expenses. Except as otherwise expressly provided in this
Agreement, each party to this Agreement will bear its respective expenses incurred in connection
with the negotiation, preparation, execution, and performance of this Agreement and the
Contemplated Transactions, including all fees and expenses of agents, representatives, counsel and
accountants. In the event of termination of this Agreement, the obligation of each party to pay
its own expenses will be subject to any rights of such party arising from a Breach of this
Agreement by the other party.

Section 12.20 Minimum Net WorthSection 12.21 . At all times until
the third anniversary of the Closing Date, Buyer shall, or Parent shall cause Buyer to, in the
aggregate, maintain a minimum Tangible Net Worth of $10,000,000. Parent joins in this Agreement
solely with respect to the following: (i) its obligation under this Section 12.20 and (ii)
its obligations under the Transferred Share Letter.

Article 13

Employees and Employee Benefits

Section 13.1 Employment of Seller’s Employees by Buyer.

	 	(a)	 	Buyer intends to offer employment to all of Seller’s employees who are actively
employed or on an approved non-medical absence on the Closing Date. Seller’s employees
who become employed by Buyer are referred to herein as the “Transferred
Employees”. The employment by Buyer of any Transferred Employee will commence at
the Closing. Nothing in this Agreement shall be deemed to require Buyer to retain any
of the Transferred Employees for any period of time or at any particular compensation
rate or in any particular position, or otherwise restrict Buyer’s right to amend,
modify or terminate any employee plan or program. As a condition to such employment by
Buyer, Buyer may require each such Transferred Employee to execute and deliver Buyer’s
standard employment documents. Seller shall, effective as of the Closing Date, at its
option either terminate or assume the obligations under all employment or contracting
arrangements it has with any of the Transferred Employees.

	 	(b)	 	Seller shall pay the cost of any compensation, severance or other benefits
which may be payable to Seller’s employees who do not become Transferred Employees or
to any Transferred Employees or other persons as shall claim compensation, severance or
other benefits in connection with the consummation of the transactions contemplated by
this Agreement.

	 	(c)	 	Seller agrees to satisfy all obligations under COBRA related to its group
health plans due to any qualifying event occurring before the Closing Date.

Section 13.2 Salaries and BenefitsSection 13.3 . For a period of
six (6) months following Closing, the wages and salaries, and the benefits, to be provided by Buyer
to the Transferred Employees must be substantially similar in the aggregate to those provided by
Seller to such employees, subject to Buyer’s good faith determination that a material adverse
change in economic conditions of the Business requires a change in compensation or benefit levels.
Nothing in this Agreement shall be construed to prevent Buyer from terminating any employee after
the Closing. Subject to the requirements of applicable law, Buyer will cause the Transferred
Employees to be given credit, under each of the Buyer’s employee benefit plans in which the
Transferred Employees are eligible to participate, for all service with Seller for eligibility and
vesting purposes to the extent permitted under the Buyer’s employee benefit plan and except to the
extent such credit would result in a duplication of benefits.

Section 13.3 Workers’ and Unemployment Compensation. Seller will cooperate with
Buyer in enabling Buyer to investigate Seller’s workers’ compensation and unemployment compensation
experience ratings, and if Buyer requests, Seller will cooperate with Buyer to enable Buyer to
succeed to such ratings.

Section 13.4 Successor Employer. Seller and Buyer will (a) treat Buyer as a
successor employer and Seller as a predecessor employer, within the meaning of IRC § 3121(a)(1) and
3306(b)(1), with respect to the Transferred Employees for purposes of the Taxes imposed under the
United States Unemployment Tax Act (“FUTA”) or the United States Federal Insurance
Contributions Act (“FICA”) and (b) cooperate with each other to avoid, to the extent
possible, the filing of more than one IRS Form W-2 with respect to each such Transferred Employee
for the calendar year 2008, provided that in no event will Buyer be deemed to have assumed any
liabilities of Seller arising or accrued prior to the Closing Date arising under FUTA, FICA or
otherwise pursuant to this Section 13.4. With respect to any applicable Tax law relating
to employment, unemployment insurance, Social Security, disability, workers’ compensation, payroll,
health care, or similar Tax, other than Taxes imposed under FICA and FUTA, Seller and Buyer will
treat Buyer as a successor employer and Seller as a predecessor employer, within the meaning of the
relevant provisions of such Tax law with respect to the Transferred Employees and will cooperate
with each other to avoid, to the extent possible, the filing of more than one individual reporting
form pursuant to each such Tax law with respect to each Transferred Employee for calendar year
2008. Seller and Buyer will report on a predecessor-successor basis with respect to any of
Seller’s employees who are not hired by Buyer regarding the filing of IRS forms W-2, W-3 and 941
after the Effective Time and Buyer will assume the Seller’s obligation to furnish W-2 forms to such
employees for all of calendar year 2008. Buyer’s obligation under this Section 13.4 is
contingent upon its receipt of all necessary information from Seller to fulfill its reporting
responsibilities. Buyer has no obligation to request additional data or verify the accuracy of
data submitted by Seller and is entitled to rely on such data.

Article 14

Environmental Matters

Section 14.1 Buyer’s Environmental Obligations. Following the Closing,
Buyer shall comply in all material respects with all environmental Legal Requirements pertaining to
the operation of the Business and the Real Property.

Article 15

Real Estate Matters

Section 15.1 Title

	 	(a)	 	Seller shall order a commitment (a “Commitment”) for an owner’s policy
of title insurance respecting the Owned Properties issued by the Title Company. Seller
shall order the Title Company to deliver a Commitment, together with copies of all
exception instruments referenced therein, to Buyer with a copy thereof to Seller
promptly after the date hereof. Such Commitment shall reflect the Title Company’s
obligation to issue on the Closing Date an ALTA owner’s policy of title insurance (ALTA
Form 2006) in a reasonable and customary amount insuring in Buyer good and marketable,
fee simple title to the applicable Owned Properties, free and clear of all Encumbrances
other than Permitted Encumbrances, except as otherwise specified herein together with
such other endorsements as Buyer deems desirable (together, the “Title
Policies”). Buyer will have ten (10) days following receipt of the Commitment to
give notice to Seller’s Counsel (at the notice address shown for him in Section
12.3 hereof) of any objection to title appearing in such Commitment which Buyer is
unwilling to waive. If Buyer does not give notice to Seller’s Counsel of an objection
to title raised in such report within the time frame as set forth above, such objection
shall be deemed waived by Buyer.

	 	(b)	 	If for any reason whatsoever the Seller fails or is unable to comply with the
terms of this Agreement or deliver title as provided herein, then Buyer’s sole and
exclusive right and remedy shall be (i) to accept such performance and/or such title as
the Seller is able or willing to render and/or deliver, without any other liability on
the part of Seller, or (ii) to reject title, in which event Seller’s sole liability, in
law or at equity, shall be for the return of the Deposit, together with the net charge
for title examination actually incurred by Buyer. Seller shall not be required to
bring any action or proceeding or obtain the signature of any person, firm or
corporation, for the purposes of remedying any objection or curing any defects.

Section 15.2 Seller’s Title Expenses. The Title Company shall charge the Seller
with, and pay out of the Purchase Price:

	 	(a)	 	one-half of any stamp tax, state, county, or local transfer
taxes, and similar fees imposed on the conveyance of the Property by applicable
law;

(b) one-half of the escrow fee, if any;

	 	(c)	 	the cost of discharging and releasing any mortgages or other
liens affecting the Properties; and

(d) Seller’s costs incurred in curing title defects as required hereunder.

Section 15.3 Buyer’s Title Expenses. The Title Company shall charge the Buyer
with:

	 	(a)	 	the premiums related to the Title Policies, including the cost of
all endorsements to the Title Policies;

	 	(b)	 	one-half of any stamp tax, state, county, or local transfer
taxes, and similar fees imposed on the conveyance of the Property by applicable
law;

(c) one-half of the escrow fee, if any;

(d) the cost of Buyer’s due diligence inspections;

	 	(e)	 	the cost of recording the Deeds and the cost of recording any
other documents;

(f) the cost of any Surveys;

(g) the cost of the Commitments; and

(h) the cost of the title search and special tax search.

4

[SIGNATURES ON NEXT PAGE – BALANCE OF PAGE INTENTIONALLY LEFT BLANK]

SIGNATURE PAGE TO

ASSET PURCHASE AGREEMENT 1 OF 2

To evidence their agreement to the foregoing, the parties hereto, intending to be legally
bound hereby, have executed this instrument as of the      day of      , 2008.

Seller:

GRAND AVENUE INCORPORATED

By:      

(Name, Title)

ASSAD IRON & METALS, INC.

By:      

(Name, Title)

HEIDELBERG METALS, INC.

By:      

(Name, Title)

NEVILLE RECYCLING LLC

By:      

(Name, Title)

PLATT PROPERTIES LLC

By:      

(Name, Title)

5

SIGNATURE PAGE TO

ASSET PURCHASE AGREEMENT 2 OF 2

Buyer:

METALICO NEVILLE, INC.

By:

Carlos E. Agüero

President

The party below is executing this Agreement solely with
respect to the following: (i) its obligation under
Section 12.20 herein and (ii) its obligations under the
Transferred Share Letter

Parent:

METALICO, INC.

By:

Carlos E. Agüero

President

6

Appendix

The capitalized words appearing below have the definitions set forth below. The singular of a
plural defined term means one of the defined items; the plural of a singular defined term means
more than one or all of the defined items.

“Adjustment Amount” is defined in Section 2.2(a).

“Affiliate” means as to a Person, any other Person controlled by, controlling, under
common control with the first entity. For purposes of this definition, “control” (including
“controlling”, “controlled by”, and “under common control with”) means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract or otherwise, and will be construed
in the same manner as in the rules promulgated under the federal securities laws.

“Assumed Liabilities” is defined in Section 1.5(a).

“Benefit Plans” means all Employee Benefit Plans with respect to which Seller
currently is, or during the three (3) year period preceding the date hereof has been, the sponsor,
a party or obligated to make contributions or to which Seller has or may have any liability with
respect to any present or former employee, officer or director of Seller.

“Bill of Sale” is defined in Section 1.4.

“Breach” means any material inaccuracy in or breach of, or any failure to perform or
comply with, a representation, warranty, covenant, obligation, or other provision of this
Agreement.

“Buyer Indemnified Parties” is defined in Section 10.1.

“Closing” is defined in Section 9.1.

“Closing Date” is defined in Section 9.1.

“COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1985.

“Commitment” is defined in Section 15.1(a).

“Competing Business” is defined in Section 5.9.

“Confidential Information” is defined in Section 12.15(a).

“Confidentiality Letter Agreement” is defined in Section 12.15(a).

“Consent” means an approval, consent, ratification, waiver, or other authorization
(including a Governmental Authorization).

“Consultant” is defined in Section 2.2(b).

“Contemplated Transactions” means all of the transactions contemplated by this
Agreement, including:

(a) the sale of the Property by Seller to Buyer or its Affiliates; and

(b) the performance by the Buyer and Seller of their respective covenants and
obligations under this Agreement.

“Contract” is defined in Section 1.2.

“Damages” means any and all losses, liabilities, damages, demands, claims, suits,
actions, judgments or causes of action, assessments, costs and expenses, including, without
limitation, interest, penalties, reasonable attorneys’ fees, any and all reasonable expenses
incurred in investigating, preparing or defending against any litigation, commenced or threatened,
or any claim whatsoever, and any and all amounts paid in settlement of any claim or litigation.

“Deductible Amount” is defined in Section 10.4.

“Deed” is defined in Section 1.4.

“Deposit” is defined in Section 2.1(a).

“Effective Time” is defined in Section 9.1.

“Employee Benefit Plans” means any “employee benefit plan” (as defined in Section 3(3)
of ERISA), or any bonus, incentive compensation, profit sharing, retirement, pension, deferred
compensation, severance, change in control, termination, stock option or purchase plan, restricted
stock, phantom stock, hospitalization, disability, life or other insurance plan, or other employee
fringe benefit plan, program, agreement (including any collectively bargaining agreement), practice
of Seller, policy or arrangement.

“Employment Agreements” is defined in Section 6.7.

“Encumbrance” means any mortgage, lien, pledge, charge, security interest, encumbrance
or other adverse claim of any kind.

“Environment” means soil, land surface or subsurface strata, surface waters (including
navigable waters and ocean waters), groundwaters, drinking water supply, stream sediments, ambient
air (including indoor air), plant and animal life and any other environmental medium or natural
resource.

“Environmental Authorization” means any approval, Consent, license, permit, waiver, or
other authorization issued, granted, given or otherwise made available pursuant to any
Environmental Requirement or under the authority of any Governmental Body charged with the
responsibility of protecting the Environment.

“Environmental Liabilities” means any cost, damages, expense, liability, obligation or
other responsibility arising from or under any Environmental Requirement, including those
consisting of or relating to:

	 	(a)	 	any Environmental, health or safety matter or condition (including on-site or
off-site contamination, occupational safety and health and regulation of any chemical
substance or product);

	 	(b)	 	any fine, penalty, judgment, award, settlement, legal or administrative
proceeding, damages, loss, claim, demand or response, remedial or inspection cost or
expense arising under any Environmental Requirement;

	 	(c)	 	financial responsibility under any Environmental Requirement for cleanup costs
or corrective action, including any cleanup, removal, containment or other remediation
or response actions (“Cleanup”) required by any Environmental Requirement (whether or
not such Cleanup has been required or requested by any Governmental Body or any other
person) and for any natural resource damages; or

	 	(d)	 	any other compliance, corrective or remedial measure required under any
Environmental Requirement.

The terms “removal,” “remedial” and “response action” include the types of activities covered by
the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended
(“CERCLA”).

“Environmental Requirement” means any Legal Requirement that requires or relates to:

	 	(a)	 	advising appropriate authorities, employees, and the public of
intended or actual releases of pollutants or hazardous substances or materials,
violations of discharge limits, or other prohibitions and of the commencements
of activities, such as resource extraction or construction, that could have
significant impact on the Environment;

	 	(b)	 	preventing or reducing to acceptable levels the release of
Hazardous Substances into the Environment;

	 	(c)	 	reducing the quantities, preventing the release, or minimizing
the hazardous characteristics of wastes that are generated;

	 	(d)	 	reducing to legally required levels the risks inherent in the
transportation of hazardous substances, pollutants, oil, or other potentially
harmful substances;

	 	(e)	 	cleaning up Hazardous Substances that have been released,
preventing the threat of release, or paying the costs of such clean up or
prevention;

	 	(f)	 	making responsible parties pay private parties, or groups of
them, for damages done to their health or the Environment, or permitting
self-appointed representatives of the public interest to recover for injuries
done to public assets; or

	 	(g)	 	providing safe and healthful working conditions and reducing
occupational safety and health hazards.

Environmental Requirements include the CERCLA; the Resource Conservation and Recovery Act, as
amended (“RCRA”); the Toxic Substances Control Act, as amended (“TSCA”); the Clean Air Act, as
amended (“CAA”); the Federal Water Pollution Control Act, as amended (“FWPCA”); the Oil Pollution
Act of 1990, as amended (“OPA”); the Occupational Safety and Health Act, as amended (“OSHA”); and
the Safe Drinking Water Act, as amended (“SDWA”); and their state and local counterparts or
equivalents.

“Equipment” is defined in Section 1.1(b).

“ERISA” means the Employee Retirement Income Security Act of 1974 or any successor
law, and regulations and rules issued pursuant to that Act or any successor law.

“ERISA Affiliate” means , with respect to Seller, any entity which is or has ever been
a member of a “controlled group of corporations” with, or under “common control” with, Seller
(within the meaning of IRC §414(b) or (c)) or which is or has ever been a member of an “affiliated
service group” with Seller (within the meaning of IRC §414(m)) or any entity which is or has ever
been required to be aggregated with Seller under Section 4001(b) of ERISA.

“Escrow Agent” is defined in Section 1.5(c).

“Excluded Property” is defined in Section 1.3.

“Financial Statement” is defined in Section 3.5.

“Governmental Authorization” means any approval, Consent, license, permit, waiver, or
other authorization issued, granted, given, or otherwise made available by or under the authority
of any Governmental Body or pursuant to any Legal Requirement.

“Governmental Body” means any federal, state, local, municipal, foreign, or other
government or any subdivision, agency, bureau, or department thereof.

“Hazardous Substance” means any element, substance, compound, solution, mixture,
pollutant or contaminant as defined or regulated under the CERCLA, Clean Water Act,  Clean Air
Act, the Resource Conservation and Recovery Act,  the Toxic Substance Control Act, the Hazardous
Materials Transportation Act and the Occupational Health and Safety Act and equivalent state
statutes.

“HSR Act” is defined in Section 1.6(b). 

“Hybrid Claim” is defined in Section 10.6(d).

“Intellectual Property” means:

	 	(a)	 	trade names, trademarks, service marks and logos, registered and
unregistered and applications for any of the foregoing (collectively, “Marks”);

	 	(b)	 	patents (“Patents”), patent applications, continuations and
inventions and discoveries that may be patentable;

	 	(c)	 	registered and unregistered copyrights in both published works
and unpublished works (collectively, “Copyrights”);

	 	(d)	 	rights in mask works and software;

	 	(e)	 	know-how, trade secrets, confidential or proprietary information,
customer lists, technical information, data, process technology, plans, drawings
and blue prints (collectively, “Trade Secrets”); and

	 	(f)	 	rights in internet web sites and internet domain names
(collectively, “Net Names”).

“Inventory” is defined in Section 1.1(a).

“Inventory Amount” is defined in Section 2.2(a).

“IRC” means the Internal Revenue Code of 1986 or any successor law, and regulations
issued by the Treasury Department pursuant to the Internal Revenue Code or any successor law.

“IRS” means the United States Internal Revenue Service or any successor agency, and,
to the extent relevant, the United States Department of the Treasury.

“Key Employees” means the following employees: Lou Cramer, Gary Leo, Chris Meszaros,
Dennis Leasha and George Dressel.

“Leased Property” is defined in Section 3.12(a).

“Legal Requirement” means any federal, state, local, municipal, foreign,
international, multinational, or other administrative Order, constitution, law, ordinance,
regulation, statute, or treaty.

“Marketable Inventory” is defined in Section 2.2(a).

“Multiemployer Plan” means any “multiemployer plan” within the meaning of Sections
3(37) or 4001(a)(3) of ERISA.

“Order” means any award, decision, injunction, judgment, order, ruling, subpoena, or
verdict entered, issued, made, or rendered by any court, administrative agency, or other
Governmental Body or by any arbitrator.

“Owned Property” is defined in Section 3.12(a).

“Permitted Encumbrances” means liens for property taxes and assessments not yet due
and payable, those encumbrances appearing on the title reports to be conducted by Buyer and the
other items listed on Exhibit 5.8.

“Person” means an individual, corporation, partnership, limited liability company,
association, trust or any other entity or organization.

“Prepaids” is defined in Section 1.1(f).

“Proceeding” means an action, arbitration, audit, hearing, investigation, litigation,
or suit (whether civil, criminal or administrative) commenced, brought, conducted, or heard by or
before, any Governmental Body or arbitrator.

“Product” is defined in Section 5.9.

“Property” is defined in Section 1.1.

“Purchase Price” is defined in Section 2.1.

“Real Property” is defined in Section 3.12(a).

“Reasonable Best Efforts” means the efforts that a prudent person desirous of
achieving a result would use in similar circumstances to ensure that such result is achieved as
expeditiously as possible; provided, however, that an obligation to use Reasonable Best Efforts
under this Agreement does not require the person subject to that obligation to make any significant
out of pocket expenditures or take actions that would result in a materially adverse change in the
benefits to such person of this Agreement and the Contemplated Transactions.

“Records” is defined in Section 1.1(e).

“Related Party” means (i) any Affiliate of Seller, (ii) any director, officer or
equity holder of Seller or of any Affiliate of Seller and (iii) any Affiliate of any Person
described in clause (ii) above.

“Retained Liability” is defined in Section 1.5(b).

“Seller Indemnified Party” is defined in Section 10.2.

“Seller’s Knowledge” means the actual knowledge of any of (a) James R. Snyder (b)
Charles B. Snyder (c) Daniel R. Snyder or (d) any Key Employee after such inquiry as a reasonably
prudent person would undertake, and not including any imputed or constructive knowledge.

“Settlement Statement” is defined in Section 9.2(g).

“Tangible Net Worth” means the aggregate value of property, plant and equipment,
inventory, and cash on hand of the Buyer (including Affiliates of the Buyer holding real property
interests included in the Property) without regard to GAAP.

“Tax” means any tax, levy, assessment, tariff, duty, or other fee, and any related
charge or amount (including any fine, penalty, interest, or addition to tax), imposed, assessed, or
collected by or under the authority of any Governmental Body (including any income tax, sales or
use tax, property tax, or excise tax, workers’ compensation premiums, and unemployment compensation
contributions).

“Tax Return” means any return (including any information return), report, statement,
schedule, notice, form, or other document or information filed with or submitted to, or required to
be filed with or submitted to, any Governmental Body in connection with the determination,
assessment, collection, or payment of any Tax or in connection with the administration,
implementation, or enforcement of or compliance with any Legal Requirement relating to any Tax.

“Tentative Purchase Price” is defined in Section 2.1.

“Territory” is defined in Section 5.9.

“Third Party Claim” is defined in Section 10.6(a).

“Title Company” is defined in Section 1.5(c).

“Title Policy” is defined in Section 15.1(a).

“Transaction Document” is defined in Section 3.2.

“Transferred Employee” is defined in Section 13.1(a).

“Volume Weighted Average” means, for any time period, the ratio of the value traded to
the total volume traded over such time period.

7

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