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COMMERCIAL METALS COMPANY

PERFORMANCE AWARD AGREEMENT
        

%%FIRST_NAME%-% %%LAST_NAME%-% 
 (the “Participant”)

has been granted a Performance Award (the “Award”), which is described in this Award Agreement (the “Agreement”) in accordance with Section 4 of the Commercial Metals Company (the “Company”) 2013 Long-Term Equity Incentive Plan (the “Plan”).  The “Date of Grant” is %%OPTION_DATE%-%.  The Performance Period is three years, being September 1, 2020 to August 31, 2023 (the “Performance Period”). 

This Agreement is subject to the terms and conditions of the Plan, and the terms of the Plan shall control in the event any provision of this Agreement is inconsistent with and not permitted pursuant to the provisions of the Plan.  The capitalized terms used but not defined in this Agreement that are defined in the Plan shall have the meanings assigned to them in the Plan.  

1. Performance Award.  This Award is a stock-settled award based on achievement of performance goals and objectives set forth in this Agreement, which at the Target level of performance shall entitle the Participant to %%TOTAL_SHARES_GRANTED%-% units (“Units”), each of which shall represent the right to receive a share of Common Stock.  

a. Vesting; Timing of Delivery of Shares.  

(i) Performance Vesting.  Subject to the remainder of this Agreement, the Award shall vest on the last day of the Performance Period, subject to the Participant remaining actively employed by and providing services to the Company or a Subsidiary on such date and based upon achievement of the performance goals and objectives during the Performance Period as described on the Schedule attached hereto, which is by this reference made a part hereof.  

Notwithstanding the attainment of the performance goals and objectives or anything herein to the contrary, the Compensation Committee of the Board of Directors for the Company (“Committee”) shall have the sole and absolute discretion to reduce the number of shares of Common Stock that would otherwise be delivered to the Participant or to decide that no shares shall vest.  The Company shall not settle the Award, unless and until the Committee has certified that the applicable performance goals and objectives have been satisfied, which certification shall occur as soon as practicable following the last day of the Performance Period.

In the event of vesting of the Award pursuant to this Section 1.a.(i), the Company shall deliver to the Participant (or the Participant’s personal representative) as soon as practical after the last day of the Performance Period, but in no event later than 60 days following such date, the number of shares of Common Stock equal to the number of Units of the Performance Award which have become vested.  

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(ii) Accelerated Vesting Upon Death or Termination of Service Due to Total and Permanent Disability.  Notwithstanding Section 1.a.(i), in the event of the Participant’s (A) death or (B) Termination of Service as a result of Total and Permanent Disability (other than a Qualifying Termination under Section 1.a.(iii)), the Award shall vest, with the vested value to be determined at the end of the Performance Period by multiplying the total number of Units that would be vested based on actual Company performance during the Performance Period, determined in accordance with Section 1.a.(i), by a fraction, the numerator of which is the number of days from the Date of Grant to the date of such event, and the denominator of which is the number of days in the full Performance Period.  Such pro rata vested Award shall be settled not later than 60 days following the end of the Performance Period.  

(iii) Accelerated Vesting Upon Qualifying Termination.  Notwithstanding Section 1.a.(i), the Award shall automatically and immediately become vested as of the Participant’s (A) Termination of Service as a result of Total and Permanent Disability, (B) Qualifying Retirement or (C) Termination of Service by the Company or a Subsidiary without Cause or by the Participant for Good Reason, in each case within 24 months after the occurrence of a Change in Control which is also a “change in control event” under Treasury Regulation Section 1.409A-3(i)(5) (a “Qualifying Termination”) in accordance with this Section 1.a.(iii).  The number of Units vesting as the result of a Qualifying Termination shall be equal to the number determined in accordance with the attached Schedule A, assuming achievement of the performance goals at the Target level through the end of the Performance Period.  The vested Award shall be settled not later than 60 days following the date of the Qualifying Termination. 

(iv) Continued Vesting in the Event of a Qualifying Retirement.  Notwithstanding anything in this Section 1.a. to the contrary, in the event of the Participant’s Qualifying Retirement (other than a Qualifying Termination), the Award shall continue to vest and become payable as set forth in Section 1.a.(i) subject to the Participant’s compliance with the Restrictive Covenants.  Notwithstanding the foregoing, the Committee shall have the sole authority to determine whether a Termination of Service is a Qualifying Retirement for the purposes of Section 1.a.  As an inducement to the Company to continue vesting the Award in accordance with this Section 1.a.(iv), the Participant represents to, and covenants with or in favor of, the Company that the Participant will comply with all of the restrictive covenants set out in Attachment A to this Agreement (the “Restrictive Covenants”), which Attachment A shall be considered a part of this Agreement, as a condition to the continuation of vesting of the Award following a Qualifying Retirement.  Such Restrictive Covenants shall be in addition to, and not in lieu of, any other restrictive covenants to which the Participant may be subject under the terms of an employment agreement with the Company or otherwise.

(v) Delivery of Shares of Common Stock After Vesting Due to Death or Termination of Service Due to Total and Permanent Disability.  In the event of vesting of the Award pursuant to Section 1.a.(ii), the Company shall deliver to the Participant (or the Participant’s personal representative) shares of Common Stock equal to the number of vested Units.  Such delivery shall occur not later than 60 days following the last day of the Performance Period.  

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(vi) Delivery of Shares of Common Stock After Vesting Due to Qualifying Termination.  In the event of vesting of the Award pursuant to Section 1.a.(iii), the Company shall deliver to the Participant shares of Common Stock equal to the number of vested Units.  Such delivery shall occur as soon as practical following the occurrence of a Qualifying Termination, but in no event later than 60 days after such date.

b. Forfeiture of Award.  Any portion of the Award that does not become vested and payable in shares of Common Stock in accordance with Section 1 shall be forfeited on the earlier of the date of the Participant’s Termination of Service or the last day of the Performance Period.   

2. Definitions.  For purposes of this Agreement, the following terms shall have the meaning set forth below:

“Cause” means (A) material misappropriation with respect to the business or assets of the Company; (B) persistent refusal or willful failure constituting gross dereliction by the Participant to substantially perform the Participant’s duties and responsibilities to the Company, which continues after the Participant receives written notice from the Company of such refusal or failure and which is not remedied by the Participant within thirty (30) days following receipt of the Company’s written notice; (C) conviction of a felony or crime involving fraud, dishonesty or moral turpitude; or (D) the use of drugs or alcohol that interferes materially with the Participant’s performance of his or her duties. 

“Good Reason” means the occurrence, without the Participant’s written consent, of any of the following conditions or events: (A) the material failure to maintain the Participant in the office or position, or in a substantially equivalent office or position, held by the Participant immediately prior to the date of the Change in Control; (B) a material adverse change in the nature or scope of the Participant’s position, duties, powers, functions or responsibilities as compared to the nature or scope of such position, duties, powers, functions or responsibilities immediately prior to the date of the Change in Control; provided, however, that a diminution of the Participant’s duties, functions or responsibilities attributable solely to the Company ceasing to be a public company on or after the date of the Change in Control shall not alone constitute a material adverse change; (C) any failure by the Company to provide the Participant with the compensation and material benefits provided to the Participant immediately prior to the date of the Change in Control, including any material reduction in the Participant’s annual base salary; (D) the failure of any successor to the Company to assume this Agreement; or (E) any requirement by the Company that the Participant relocate more than 50 miles from the Participant’s principal workplace.

Notwithstanding the foregoing, an act or omission shall not constitute Good Reason unless (i) the Participant gives written notice to the Company indicating that the Participant intends to terminate employment for Good Reason, (ii) the Participant’s resignation occurs within sixty (60) days after the Participant knows or reasonably should know of a condition or event described above, or within sixty (60) days after the last in a series of such events, and (iii) the Company has failed to remedy such condition or event within thirty (30) days after receiving the Participant’s written notice.  If the Company remedies the condition or event described in the Participant’s written notice within thirty 
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(30) days after receiving such notice, then such condition or event will not constitute Good Reason for purposes of this Agreement.

“Qualifying Retirement” means that the Compensation Committee of the Board of Directors of the Company (“Committee”), in its sole discretion, determines that the sole reason for the Participant’s Termination of Service on or after the six month anniversary of the Date of Grant is a Qualifying Retirement.  The following thresholds shall act as triggers for an analysis by the Committee of whether such Termination of Service is a Qualifying Retirement:  (A) Termination of Service solely due to retirement following the attainment of age sixty-two (62) or permitted early retirement as determined by the Committee; (B) Termination of Service solely due to retirement following the attainment of age fifty-five (55) and ten (10) years of employment with the Company or any Subsidiary; or (C) Termination of Service solely due to retirement following the attainment of age fifty (50) and fifteen (15) years of employment with the Company or any Subsidiary, or (D) Termination of Service for other reasons as determined by the Committee; provided that under no circumstance will a Termination of Service prior to the six month anniversary of the Date of Grant be considered a Qualifying Retirement.

“Termination of Service” occurs when the Participant ceases to serve as an employee of the Company or a Subsidiary for any reason. 

“Total and Permanent Disability” means a Participant is qualified for long-term disability benefits under the Company’s or a Subsidiary’s disability plan or insurance policy; or, if no such plan or policy is then in existence or if the Participant is not eligible to participate in such plan or policy, that the Participant, because of a physical or mental condition resulting from bodily injury, disease, or mental disorder is unable to perform his or her duties of employment for a period of six (6) continuous months, as determined in good faith by the Committee, based upon medical reports or other evidence satisfactory to the Committee.  

3. Restrictions on Awards and Rights of a Stockholder.  The Participant will not be treated as a stockholder with respect to any shares of Common Stock covered by this Agreement until the shares are entered by book entry registration in the Company’s direct registration services or the issuance of a certificate or certificates to the Participant for the shares.  Subject to the provisions of the Plan, until the date shares of Common Stock are delivered to the Participant under this Award (the “Restriction Period”), the Participant shall not be permitted to sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of any portion of the Award or any shares of Common Stock that may be delivered under the Award.  All of the rights of the Participant in the Award and the Common Stock issued upon vesting of the Award are subject to Section 16 of this Agreement.  

4. Book Entry or Certificate Issuance of Shares and Legend.  All shares of Common Stock delivered shall be represented by, at the option of the Company, either book entry registration in the Company’s direct registration services or by a certificate.  If the Common Stock was not issued in a transaction registered under the federal and state securities laws, all shares of Common Stock delivered under the Award that are issued in certificate form shall bear a restrictive legend and shall be held indefinitely, unless they are subsequently registered under the federal and state securities laws or the Participant obtains an opinion of counsel, satisfactory to the Company, that registration is not required.  
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All shares of Common Stock delivered that are issued in book entry direct registration services form shall be subject to the same restrictions described in a restrictive legend

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

6. Investment Representation.  Unless the Common Stock is issued to him in a transaction registered under federal and state securities laws, the Participant represents and warrants that all Common Stock which may be acquired hereunder will be acquired by the Participant for investment purposes for his own account and not with any intent for resale or distribution in violation of federal or state securities laws.  

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

8. Law Governing; Venue.  This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware (excluding any conflict of laws rule or principle of Delaware law that might refer the governance, construction, or interpretation of this Agreement to the laws of another state).  Any action or proceeding seeking to enforce any provision of, or based on any right arising out of, this Agreement shall be brought in the courts of the State of Texas, County of Dallas, or, if it has or can acquire jurisdiction, in the United States District Court for the Northern District of Texas, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such proceeding, waives any objection it may now or hereafter have to venue or convenience of forum, agrees that all claims in respect of the proceedings shall be heard and determined only in any such court and agrees not to bring any proceeding arising out of or relating to this Agreement in any other court. 

9.  Legal Construction.  In the event that any term of this Agreement is held by a court to be invalid in any respect, the invalid term shall not affect any other term that is contained in this Agreement and this Agreement shall be construed in all respects as if the invalid term had never been contained herein.

10. Entire Agreement.  This Agreement together with the Plan supersede any and all other prior understandings and agreements, either oral or in writing, between the parties with respect to the subject matter of this Agreement and constitute the sole agreements between the parties with respect to the subject matter.  

11. Parties Bound.  The terms that are contained in this Agreement shall apply to, be binding upon, and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns, subject to the limitation on assignment set forth in this Agreement.   

12. Amendment.  The provisions of this Agreement may be amended or waived only by the written agreement of the Company and the Participant, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this 
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Agreement; provided, however, that the Company may change or modify the terms of this Agreement without the Participant’s consent or signature if the Company determines, in its sole discretion, that such change or modification is necessary for purposes of compliance with or exemption from the requirements of Section 409A of the Code or any regulations or other guidance issued thereunder or as necessary to comply with any other applicable law.  Notwithstanding the preceding sentence, the Company may amend the Plan or revoke the Award to the extent permitted by the Plan.

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

i.Notice to the Company shall be addressed and delivered as follows:
Commercial Metals Company6565 N. MacArthur, Suite 800Irving, Texas  75039Attn:  Corporate SecretaryFacsimile:  (214) 689-4326
ii.Notice to the Participant shall be addressed and delivered as set forth on the signature page.
14. Withholding Taxes. 
 
a. The Participant should consult immediately with his own tax advisor regarding the tax consequences of this Agreement.  The Company (or a Subsidiary that is the Participant’s employer) (for purposes of this Section 14 “Company” includes any applicable Subsidiary) shall have the right to deduct from all amounts paid in stock, cash or any other form, any taxes required by law to be withheld in connection with this Award (the “Required Tax Payments”).  The Company may also require the Participant receiving shares of Common Stock to pay the Company the Required Tax Payments.  Such payments shall be made when requested by Company and may be required prior to the delivery of any book entry registration or certificate representing shares of Common Stock

b. The Participant may elect to satisfy his or her obligation to advance the Required Tax Payments by any of the following means:  (1) a check or cash payment to the Company, (2) delivery to the Company (either actual delivery or by attestation procedures established by the Company) of previously owned whole shares of Common Stock having an aggregate Fair Market Value, determined as of the date on which such withholding obligation arises (the “Tax Date”), equal to the Required Tax Payments, (3) authorizing the Company to withhold whole shares of Common Stock which would otherwise be issued or transferred to the Participant having an aggregate Fair Market Value, determined as of the Tax Date, equal to the Required Tax Payments (the “Share Retention Method”) or (4) any combination of (1), (2) and (3); provided, however, if the Participant is subject to Section 16 of the Exchange Act, his withholding obligations under this Section 14 shall be satisfied by the Share Retention Method, and neither the Company nor the Committee shall have any discretion to permit the satisfaction of such withholding obligation by any other means.   Shares of Common Stock to be delivered to the Company or withheld may not have an aggregate Fair Market Value in excess of the amount determined by applying the 
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maximum statutory tax rate in the employee’s applicable jurisdiction; provided that the Company shall be permitted to limit the number of shares so withheld to a lesser number if necessary, in the judgment of the Committee, to avoid adverse accounting consequences or for administrative convenience.  Any fraction of a share of Common Stock which would be required to satisfy any such obligation shall be disregarded and the remaining amount due shall be paid in cash by the Participant.  No book entry registration or certificate representing a share of Common Stock shall be delivered until the Required Tax Payments have been satisfied in full.

15. Section 409A; Delay of Payment.  

a. It is intended that the payments and benefits provided under this Agreement either will be exempt from the application of the requirements of Section 409A of the Code pursuant to the short-term deferrals exception described in Treasury Regulation Section 1.409A-1(b)(4), or will comply with the requirements of Section 409A and the Treasury Regulations thereunder.  The Agreement shall be interpreted, construed, administered, and governed in a manner that effects such intent, and the Company shall not take any action that would be inconsistent with such intent.  Without limiting the foregoing, the payments and benefits provided under this Agreement may not be deferred, accelerated, extended, paid out or modified in a manner that would result in the imposition of an additional tax upon the Participant under Section 409A of the Code.  

b. To the extent (i) any payment to which the Participant becomes entitled under this Agreement upon the Participant’s “separation from service” (within the meaning of Section 409A of the Code) constitutes deferred compensation subject to Section 409A of the Code and (ii) the Participant is deemed at the time of such separation from service to be a “specified employee” under Section 409A of the Code, then any payment that would be payable under this Agreement prior to the six-month anniversary of the Participant’s separation from service shall be delayed until the earlier of (x) the expiration of the six (6) month period measured from the date of the Participant’s separation from service; and (y) the date of the Participant’s death following such separation from service.

        16. Forfeiture or Recovery.  Notwithstanding anything to the contrary in the Plan, if the Committee determines, in its sole discretion, that the Participant has engaged in fraud or misconduct that relates to, in whole or in part, the need for a required restatement of the Company’s financial statements filed with the Securities and Exchange Commission, the Committee will review all incentive compensation awarded to or earned by the Participant, including, without limitation, any Award under the Plan, with respect to fiscal periods materially affected by the restatement and may cause to be forfeited any vested or unvested Awards and may recover from the Participant all incentive compensation to the extent that the Committee deems appropriate after taking into account the relevant facts and circumstances.  Any recoupment hereunder may be in addition to any other remedies that may be available to the Company under any other agreement or applicable law, including disciplinary action up to and including termination of employment.  

17. Adjustment of Awards.  The number of Units subject to the Award and the performance objectives and requirements shall be subject to adjustment in accordance with the Plan.

18. Electronic Delivery and Acceptance.  The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in 
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the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

19. Waiver.  The Participant acknowledges that the waiver by the Company of breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by the Participant or any other Participant.

20. Imposition of Other Requirements.  The Company reserves the right to impose other requirements on the Participant’s participation in the Plan and on the Awards, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

* * * * * * * * * * * *
IN WITNESS WHEREOF, this Agreement has been executed by a duly authorized officer of the Company, and the Participant, to evidence his consent and approval of all the terms of this Agreement, has duly executed this Agreement, as of the Date of Grant.

COMPANY:

COMMERCIAL METALS COMPANY
        

By: 
Name:         
Title:           

PARTICIPANT:

        
Signature

Name:       
Address:  
        

 

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SCHEDULE A
PERFORMANCE GOALS, LEVELS OF ACHIEVEMENT, AND VESTING

(i)75% of Units will vest based on ROIC and absolute 3-year EBITDA metrics:

ROIC Performance Trigger: Following the end of the 3-year Performance Period (FY2021-FY2023), the Committee must certify the achievement of positive ROIC or, regardless of the EBITDA performance achieved, none of the Units subject to the EBITDA metric will vest.

EBITDA Performance Goal: Within the first 90 days of each of the Company’s fiscal years Performance Period, the Committee shall establish the “Target” EBITDA performance goal for such fiscal year.  

At the end of the Performance Period, the cumulative EBITDA Performance for the Performance Period shall be calculated as a percentage of the cumulative EBITDA Target for the same period (the “2021-2023 EBITDA Performance vs. Target Percentage”).  The number of Units that vest shall be based on the calculated 2021-2023 EBITDA Performance vs. Target Percentage as follows:

            21- 23__ EBITDA Performance vs. Target:
			
	    Threshold:     Target:     Maximum:
             70%    100%       130%

Percentage of Units to vest:    50%    100%       200% 
        
(ii) 25% of Units will vest based on a 3-year relative Total Stockholder Return (“TSR”) metric:

Relative TSR Performance Goal: The “2021-2023 TSR Percentile Rank vs. Performance Peer Group” shall be measured based on the percentile ranking of the Company’s TSR during the Performance Period compared to the TSR of the Company’s Performance Peer Group during the Performance Period, the result of which will be used to determine the vesting levels of the Units as follows:

2021-2023 TSR Percentile Rank vs. Performance Peer Group:
			
	                  Threshold:         Target:  Maximum:
                          >/= P30       >/= P50     >/=  P70

Percentage of Units to vest:     50%       100%          200%
        
Vesting Summary: The Units will vest based on the level of achievement of the applicable performance goal as follows: (i) failure to achieve the “Threshold” level will result in 0% vesting of the Units subject to such performance goal; (ii) achievement of the “Threshold” level will result in 50% vesting of the “Target” Units subject to such performance goal; (iii) achievement of the “Target” level will result in 100% vesting of the “Target” Units subject to such performance goal; (iv) achievement of “Maximum” level or higher will result in 200% vesting of the “Target” Units subject to such performance goal; and (v) achievement of levels between “Threshold” and “Target” and between “Target” and “Maximum” will result in vesting being calculated on a straight line interpolation basis.

Commercial Metals Company 2013 Long-Term Equity Incentive Plan
Award Agreement for GLT
Schedule  A, Exhibit A-1

For purposes of this Schedule, the following terms shall have the meanings set forth below: 

“EBITDA” means, for the Company or any Subsidiary, the net earnings of that entity before deductions by the entity for interest, income taxes, depreciation, amortization expenses, and the impairment of depreciable and other intangible assets as well as goodwill.

“EBITDA Performance” means the actual, audited fiscal year EBITDA results, as determined based on the definition herein.  Such calculations may be adjusted by the Committee, to omit the impact of those items over which the relevant business unit did not have control including but not limited to: (i) expenses related to restructuring or productivity initiatives; (ii) extraordinary corporate and/or financing transactions, events or developments; (iii)  acquisitions, divestitures, and discontinued operations; (iv) other items of significant income or expense which are determined to be appropriate adjustments; (v) unusual or nonrecurring events or changes in applicable laws, accounting principles and/or business conditions; (vi) other non-operating items; and/or (vii) changes in the payment or allocation of general and administrative expenses among the business units of the Company and its affiliates.  Such adjustment shall apply only to the extent that the adjustment is necessary to reflect objectively determinable changes in the financial performance of the Company or the business unit.  Notwithstanding the foregoing, in no event shall any adjustment hereunder be made to the ROIC calculation used to determine whether the threshold ROIC target was attained for purposes of determining whether the Units are eligible to become vested.

“Performance Peer Group” means the list of companies approved by the Committee from time to time and attached hereto as Exhibit A-1.

Companies shall be removed from the Performance Peer Group if they undergo a “Specified Corporate Change” between the Date of Grant and the last day of the Performance Period.  A company that is removed from the Performance Peer Group before the measurement date will not be included in the computation of the performance metric.  

A company in the Performance Peer Group will be deemed to have undergone a “Specified Corporate Change” if it: 

1. enters bankruptcy or ceases to be a domestically domiciled publicly traded company on a national stock exchange or market system, unless such cessation of such listing is due to a low stock price or low trading volume;
2. has gone private;
3. has reincorporated in a foreign (e.g., non-U.S.) jurisdiction, regardless of whether it is a reporting company in that or another jurisdiction;
4.  has been acquired by another company (whether by a peer company or otherwise, but not including internal reorganizations); or 
5. has sold all or substantially all of its assets.

The Committee shall rely on press releases, public filings, website postings, and other reasonably reliable information available regarding a peer company in making a determination that a Specified Corporate Change has occurred.
Commercial Metals Company 2013 Long-Term Equity Incentive Plan
Award Agreement for GLT
Schedule  A, Exhibit A-1

“Principal Market” means the New York Stock Exchange, or if the Common Stock is not traded on the New York Stock Exchange, the principal national stock exchange on which the Common Stock is traded on the date as of which such value is being determined.

“Return on Invested Capital” or “ROIC” means Net Earnings before tax-effected interest expense divided by the sum of commercial paper, notes payable, current maturities of long-term debt, debt and stockholders equity, measured over the Performance Period.

“Total Stockholder Return” is the average daily closing per share price for the twenty Trading Days immediately preceding the beginning of the Performance Period compared to the average daily closing per share price for the twenty Trading Days immediately preceding the end of the Performance Period, with cash dividends assumed to purchase additional fractional shares at the closing price as of the ex-dividend date.

“Trading Day” means any day on which the Common Stock is traded on the Principal Market. 

Commercial Metals Company 2013 Long-Term Equity Incentive Plan
Award Agreement for GLT
Schedule  A, Exhibit A-1

EXHIBIT A-1
        
						
	AK Steel Holding Corp	Nucor Corp.
	Alcoa, Corp	Reliance Steel & Aluminum Co.
	Allegheny Technologies, Inc.	Schnitzer Steel INDS-CL A
	Carpenter Technology Corp	Steel Dynamics, Inc.
	Cleveland-Cliffs Inc.	Textron, Inc.
	Eagle Materials, Inc.	Timkensteel Corp
	Fluor Corp	Tutor Perini Corp.
	Granite Construction, Inc.	United States Steel Corp
	Harsco Corp	Vulcan Materials Co
	Jacobs Engineering Group, Inc.	Weyerhaeuser Co.
	Martin Marietta Materials	Worthington Industries, Inc.
	McDermott International, Inc.	 

COMMERCIAL METALS COMPANY
Attachment Ato Award Agreement
Restrictive Covenants
The Company and the Participant acknowledge and agree that during the course of the Participant’s employment by the Company, he or she has been provided access to confidential information of the Company and its Affiliates, has been provided with specialized training on how to perform his or her duties, and has been provided contact with the Company’s and Affiliates’ customers and potential customers throughout the world.  The Participant further recognizes and agrees that  the Company and its Affiliates have devoted a considerable amount of time, effort, and expense to develop its confidential information, training, and business goodwill, all of which are valuable assets to the Company;  that the Participant has had broad responsibilities regarding the management and operation of the Company’s and Affiliates’ world-wide operations, as well as its marketing and finances, its existing and future business plans, customers and technology; and  disclosure or use of the Company’s or Affiliates’ confidential information and additional information described herein to which the Participant has had access, would cause irreparable harm to the Company. Therefore, in consideration of all of the foregoing, the Company and the Participant agree as follows:
1.Non-Competition After Qualifying Retirement.  As stated above, the Participant has received confidential information by virtue of his or her employment in an executive capacity with the Company.  Accordingly, the Participant agrees that upon his or her Qualifying Retirement and for the period thereafter ending on the date of final vesting and settlement of all Units granted under the Award (the “Non-Compete Period”), he or she will not compete with the Company or Affiliates in any location in the world in which the Company or Affiliates have operations as of the date of the Participant’s Qualifying Retirement, by engaging in the conception, design, development, production, marketing, selling, sourcing or servicing of any product or providing of any service that is substantially similar to the products or services that the Company or any of its Affiliates provided during the Participant’s employment or 
Commercial Metals Company 2013 Long-Term Equity Incentive Plan
Award Agreement for GLT
Schedule  A, Exhibit A-1

planned to provide during the Participant’s employment and of which the Participant had knowledge, responsibility or authority, and that he will not work for, assist, or become affiliated or connected with, as an owner, partner, consultant, or in any other capacity, either directly or indirectly, any individual or business which offers or performs services, or offers or provides products substantially similar to the services and products provided by the Company or Affiliates during the Participant’s employment, or that were planned to be provided during the Participant’s employment and of which the Participant had knowledge, responsibility or authority. Additionally, during the Non-Compete Period, the Participant will not accept employment with or provide services in any capacity to any individual, business entity, investor or investment fund that is actively involved in or assessing an acquisition of a controlling interest in the Company or purchase of substantially all assets of the Company.  The restrictive covenants set forth in this Attachment A are reasonable and do not impose a greater restraint than is necessary to protect the goodwill or other business interests of the Company.
2.Non-Solicitation of Customers and Employees.  The Participant further agrees that during the Non-Compete Period he or she will not either directly or indirectly, on his or her own behalf or on behalf of others  solicit or accept any business from any customer or supplier or prospective customer or supplier with whom the Participant personally dealt or solicited or had contact with at any time during the Participant’s employment;  solicit, recruit or otherwise attempt to hire, or personally cause to hire any of the then current employees or consultants of the Company or any of its Affiliates, or former employees or consultants who were employees or consultants of the Company or any of its Affiliates during the preceding twelve months, to work or perform services for the Participant or for any other entity, firm, corporation, or individual; or  solicit or attempt to influence any of the Company’s or any of its Affiliates’ then current customers or clients to purchase any products or services substantially similar to the products or services provided by the Company or Affiliates during the Participant’s employment (or that were planned to be provided during the Participant’s employment) from any business that offers or performs services or products substantially similar to the services or products provided by the Company or Affiliates.
3.Reformation.  The Participant and the Company agree that if any of the covenants contained in this Attachment A is held by any court to be effective in any particular area or jurisdiction only if said covenant is modified to limit in its duration or scope, then the court shall have such authority to so reform the covenant and the Parties shall consider such covenant or covenants or other provisions of this Attachment A to be amended and modified with respect to that particular area or jurisdiction so as to comply with the order of any such court and, as to all other jurisdictions, the covenants contained herein shall remain in full force and effect as originally written.  Should any court hold that these covenants are void or otherwise unenforceable in any particular area or jurisdiction, then the Company may consider such covenants or provisions of this Attachment A to be amended and modified so as to eliminate therefrom the particular area or jurisdiction as to which such covenants are so held void or otherwise unenforceable and, as to all other areas and jurisdictions covered hereunder, the covenants contained herein shall remain in full force and effect as originally written.

Commercial Metals Company 2013 Long-Term Equity Incentive Plan
Award Agreement for GLT
Attachment ADocument

Commercial Metals Company
2013 Long-Term Equity Incentive PlanRestricted Stock Award Agreement for Nonemployee Directors
Commercial Metals Company, a Delaware corporation (the “Company”), hereby grants to [_____________] (the “Holder”) as of [   ] (the “Grant Date”), pursuant to the terms and conditions of the Commercial Metals Company 2013 Long-Term Equity Incentive Plan (the “Plan”), a restricted stock award (the “Award”) of [____] shares of the Company’s Common Stock, par value $0.01 per share (“Stock”), upon and subject to the restrictions, terms and conditions set forth in the Plan and this agreement (the “Agreement”).  Capitalized terms not defined herein shall have the meanings specified in the Plan.
1.Award Subject to Acceptance of Agreement.  The Award shall be null and void unless the Holder accepts this Agreement by executing it in the space provided below and returning such original execution copy to the Company.  As soon as practicable after the Holder has executed this Agreement and returned it to the Company, the Company shall cause to be issued in the Holder’s name the total number of shares of Stock subject to the Award.  
2.Rights as a Stockholder.  During the Restriction Period or until forfeiture pursuant to Section 4, the Holder shall have all of the rights of a stockholder of the Company, including the right to vote the Stock and the right to receive dividends paid with respect thereto.  Any stock dividends paid with respect to Stock (whether vested or unvested) shall at all times be treated as Stock and shall be subject to all restrictions placed on Stock.  Stock dividends paid with respect to unvested Stock shall be unvested and shall become vested in accordance with the terms and conditions applicable to the shares of Stock to which such dividends relate.  Additionally, the Holder, as record holder of the Stock, has the exclusive right to vote, or consent with respect to, such Stock until such time as the Stock is transferred in accordance with this Agreement or a revocable proxy not to exceed 30 days in duration is granted to another stockholder for the sole purpose of voting for directors of the Company; provided that this revocable proxy shall not create any voting right where the holders of such Stock otherwise have no such right.  The Holder may not grant any other type of proxy to any person.
3.Custody and Delivery of Shares.   The shares of Stock subject to the Award shall be held by the Company or by a custodian in book entry form, with restrictions on the shares of Stock duly noted, until such Award shall have vested, in whole or in part, pursuant to Section 4 hereof, and as soon thereafter as practicable the vested Stock shall be delivered to the Holder as the Holder shall direct.
4.Restriction Period and Vesting.
a..Service-Based Vesting Condition.  Except as specifically provided in the Agreement and subject to certain restrictions and conditions set forth in the Plan, the Award shall vest 100% on the first anniversary of the Grant Date, provided the Holder is providing services 

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as a director of the Company on that date.  The period of time during which any of the shares of Stock subject to the Award are unvested shall be referred to herein as the “Restriction Period.”
b..Change in Control.  Notwithstanding Section 4.1, in the event of Holder’s involuntary removal from the Board (other than a removal for cause as determined by the Board in accordance with the Company’s constituent documents and applicable law) following the occurrence of a Change in Control, all shares of Stock not previously vested or forfeited shall immediately become fully vested.
c..Termination of Service Due to Death or Disability.  If the Holder’s service as a director of the Company terminates due to the Holder’s death or Total and Permanent Disability, then all shares of Stock not previously vested or forfeited shall immediately become fully vested.  For purposes of this Award, “Total and Permanent Disability” shall mean that the Holder, because of ill health, physical or mental disability or any other reason beyond his or her control, is unable to perform his or her duties as a director for a period of six (6) continuous months, as determined in good faith by the Committee.
d..Forfeiture of Stock.  All shares of Stock subject to the Award that have not vested pursuant to Section 4.1, Section 4.2 or Section 4.3 shall be forfeited on the date of the Holder’s termination of service as a director.  Upon forfeiture, the Holder’s rights with respect to the Stock and the Award shall cease and terminate, without any further obligations on the part of the Company.
5.Transfer Restrictions and Investment Representation.  
a..Transfer Restrictions.  During the Restriction Period, the shares of Stock subject to the Award and not then vested may not be offered, sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of by the Holder.  Any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of such shares shall be null and void.  Notwithstanding the foregoing, the Holder may engage in a permitted transfer to the following persons or entities: (a) the Company; (b) the Holder’s spouse (or former spouse), children or grandchildren (“Immediate Family Members”); (c) a trust or trusts for the exclusive benefit of such Immediate Family Members; or (d) a partnership in which the only partners are (i) such Immediate Family Members and/or (ii) entities which are controlled by Immediate Family Members; provided that in each case, the transfer complies with Section 6.7 of this Agreement.  Upon any forfeiture, all rights with respect to the forfeited Stock shall cease and terminate, without any further obligation on the part of the Company.  Following any permitted transfer described in (b) or (c), the Stock shall continue to be subject to the same terms and conditions as were applicable immediately prior to transfer, provided that for all applicable purposes of this Agreement the term “Holder” shall be deemed to include the permitted transferee.  The Company shall have no obligation to inform any permitted transferee of the vesting or forfeiture of the Stock.  Except as otherwise provided in this Agreement, the Company shall have no obligation to register with any federal or state securities commission or agency any Stock that have been transferred by a Holder under this Section 5.1.

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b..Investment Representation.  The Holder hereby represents and covenants that (a) any share of Stock acquired upon the grant or vesting of the Award is or will be acquired for investment and not with a view to the distribution thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”), unless such acquisition has been registered under the Securities Act and any applicable state securities laws; (b) any subsequent sale of any such shares shall be made either pursuant to an effective registration statement under the Securities Act and any applicable state securities laws, or pursuant to an exemption from registration under the Securities Act and such state securities laws; and (c) if requested by the Company, the Holder shall submit a written statement, in form satisfactory to the Company, to the effect that such representation (x) is true and correct as of the date of vesting of any shares of Stock hereunder or (y) is true and correct as of the date of any sale of any such share, as applicable.  As a further condition precedent to the delivery to the Holder of any shares of Stock subject to the Award, the Holder shall comply with all regulations and requirements of any regulatory authority having control of or supervision over the issuance or delivery of the shares and, in connection therewith, shall execute any documents which the Board shall in its sole discretion deem necessary or advisable.
6.Additional Terms and Conditions of Award.
a..Adjustment.  The number of shares of Stock subject to the Award shall be subject to adjustment in accordance with Section 5.7 of the Plan.
b..Compliance with Applicable Law.  The Award is subject to the condition that if the listing, registration or qualification of the shares of Stock subject to the Award upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary or desirable as a condition of, or in connection with, the vesting or delivery of shares hereunder, the shares of Stock subject to the Award shall not vest or be delivered, in whole or in part, unless such listing, registration, qualification, consent, approval or other action shall have been effected or obtained, free of any conditions not acceptable to the Company.  The Company agrees to use reasonable efforts to effect or obtain any such listing, registration, qualification, consent, approval or other action.
c..Delivery of Stock.  Upon the vesting of the Award, in whole or in part, the Company shall deliver or cause to be delivered to the Holder the vested shares of Stock.  The Company shall pay all original issue or transfer taxes and all fees and expenses incident to such delivery.
d..Award Confers No Rights to Continued Service.  In no event shall the granting of the Award or its acceptance by the Holder, or any provision of the Agreement, give or be deemed to give the Holder any right to continued service with the Company.
e..Interpretation.  Any dispute regarding the interpretation of this Agreement shall be submitted by the Holder or by the Company forthwith to the Committee for review.  The resolution of such a dispute by the Committee shall be final and binding on all parties.

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f..Taxation; Section 83(b) Election.  The Holder understands that the Holder is solely responsible for all tax consequences to the Holder in connection with this Award.  The Holder represents that the Holder has consulted with any tax consultants the Holder deems advisable in connection with the Award and that the Holder is not relying on the Company for any tax advice.  By accepting this Agreement, the Holder acknowledges his or her understanding that the Holder may file with the Internal Revenue Service an election pursuant to Section 83(b) of the Code (a “Section 83(b) Election”), not later than 30 days after the Grant Date, to include in the Holder’s gross income the Fair Market Value of the unvested shares of Stock subject to the Award as of the Grant Date.  Before filing a Section 83(b) Election with the Internal Revenue Service, the Holder shall (i) notify the Company of such election by delivering to the Company a copy of the fully-executed Section 83(b) Election Form attached hereto as Exhibit A, and (ii) pay to the Company an amount sufficient to satisfy any taxes or other amounts required by any governmental authority to be withheld or paid over to such authority with respect to such unvested shares, or otherwise make arrangements satisfactory to the Company for the payment of such amounts through withholding or otherwise.  
g..Successors and Assigns.  The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company.  Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon the Holder and his or her heirs, executors, administrators, successors and assigns.  No person or entity shall be permitted to acquire any Stock without first executing and delivering an agreement in the form satisfactory to the Company making such person or entity subject to the restrictions on transfer contained in Section 5.1 hereof.
h..Notices.  All notices, requests or other communications provided for in this Agreement shall be made, if to the Company, to Commercial Metals Company, Attn: Corporate Secretary, 6565 N. MacArthur, Suite 800, Irving, Texas 75039, and if to the Holder, to the mailing address of the Holder set forth on the signature page.  Any notice required or permitted to be delivered hereunder shall be deemed to be delivered only when actually received by the Company or by the Holder, as the case may be.
i..Governing Law.  This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware (excluding any conflict of laws rule or principle of Delaware law that might refer the governance, construction, or interpretation of this agreement to the laws of another state).
j..Agreement Subject to the Plan.  This Agreement is subject to the provisions of the Plan, including Section 5.8 relating to a Change in Control, and shall be interpreted in accordance therewith.  The terms of the Plan shall control to the extent not otherwise inconsistent with the provisions of this Agreement.  The capitalized terms used herein that are defined in the Plan shall have the same meanings assigned to them in the Plan.  The Agreement is subject to any rules promulgated pursuant to the Plan by the Board or the Committee and communicated to the Holder in writing.  The Holder hereby acknowledges receipt of a copy of the Plan, represents that he or she is familiar with the terms and provisions 

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thereof, and hereby accepts this Award subject to all the terms and provisions thereof.  The Holder hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Board or the Committee upon any questions arising under the Plan or this Agreement.
k..Entire Agreement.  This Agreement and the Plan constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Holder with respect to the subject matter hereof, and may not be modified adversely to the Holder’s interest except by means of a writing signed by the Company and the Holder.
l..Partial Invalidity.  The invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions hereof and this Agreement shall be construed in all respects as if such invalid or unenforceable provision was omitted.
m..Amendment and Waiver.  Notwithstanding Section 6.11, the Company may amend the Plan to the extent permitted by the Plan.
n..Counterparts.  This Agreement may be executed in two counterparts each of which shall be deemed an original and both of which together shall constitute one and the same instrument.
o..Representations, Etc.  Any spouse of the Holder individually is bound by, and such spouse’s interest, if any, in any Stock is subject to the terms of this Agreement.  Nothing in this Agreement shall create a community property interest where none otherwise exists.
p..Simultaneous Death.  If the Holder and his spouse both suffer a common accident or casualty which results in their respective deaths within 60 days of each other, it shall be conclusively presumed, for the purpose of this Agreement, that the Holder died first and the spouse died thereafter.
q..Specific Performance.  The parties acknowledge that remedies at law will be inadequate remedies for breach of this Agreement and consequently agree that this Agreement shall be enforceable by specific performance.  The remedy of specific performance shall be cumulative of all of the rights and remedies at law or in equity of the parties under this Agreement.
r..Dispute Resolution.
(i)Arbitration. All disputes and controversies of every kind and nature between any parties hereto arising out of or in connection with this Agreement or the transactions described herein as to the construction, validity, interpretation or meaning, performance, non-performance, enforcement, operation or breach, shall be submitted to arbitration pursuant to the following procedures:

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(1)After a dispute or controversy arises, any party may, in a written notice delivered to the other parties to the dispute, demand such arbitration.  Such notice shall designate the name of the arbitrator (who shall be an impartial person) appointed by such party demanding arbitration, together with a statement of the matter in controversy.
(2)Within 30 days after receipt of such demand, the other parties shall, in a written notice delivered to the first party, name such parties’ arbitrator (who shall be an impartial person).  If such parties fail to name an arbitrator, then the second arbitrator shall be named by the American Arbitration Association (the "AAA").  The two arbitrators so selected shall name a third arbitrator (who shall be an impartial person) within 30 days, or in lieu of such agreement on a third arbitrator by the two arbitrators so appointed, the third arbitrator shall be appointed by the AAA.  If any arbitrator appointed hereunder shall die, resign, refuse or become unable to act before an arbitration decision is rendered, then the vacancy shall be filled by the method set forth in this Section 6.18 for the original appointment of such arbitrator.
(3)Each party shall bear its own arbitration costs and expenses.  The arbitration hearing shall be held in Dallas, Texas at a location designated by a majority of the arbitrators.  The Commercial Arbitration Rules of the AAA shall be incorporated by reference at such hearing and the substantive laws of the State of Texas (excluding conflict of laws provisions) shall apply.
(4)The arbitration hearing shall be concluded within 10 days unless otherwise ordered by the arbitrators and the written award thereon shall be made within 15 days after the close of submission of evidence.  An award rendered by a majority of the arbitrators appointed pursuant to this Agreement shall be final and binding on all parties to the proceeding, shall resolve the question of costs of the arbitrators and all related matters, and judgment on such award may be entered and enforced by either party in any court of competent jurisdiction.
(5)Except as set forth in Section 6.18(b), the parties stipulate that the provisions of this Section 6.18 shall be a complete defense to any suit, action or proceeding instituted in any federal, state or local court or before any administrative tribunal with respect to any controversy or dispute arising out of this Agreement or the transactions described herein.  The arbitration provisions hereof shall, with respect to such controversy or dispute, survive the termination or expiration of this Agreement.
No party to an arbitration may disclose the existence or results of any arbitration hereunder without the prior written consent of the other parties; nor will any party to an arbitration disclose to any third party any confidential information disclosed by any 

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other party to an arbitration in the course of an arbitration hereunder without the prior written consent of such other party.

(ii)Emergency Relief.  Notwithstanding anything in this Section 6.18 to the contrary, any party may seek from a court any provisional remedy that may be necessary to protect any rights or property of such party pending the establishment of the arbitral tribunal or its determination of the merits of the controversy or to enforce a party’s rights under Section 6.18.
s..Holder’s Representations.  Notwithstanding any of the provisions hereof, the Holder hereby agrees that he will not acquire any Stock, and that the Company will not be obligated to issue any Stock hereunder, if the issuance of such shares shall constitute a violation by the Holder or the Company of any provision of any law or regulation of any governmental authority.  Any determination in this connection by the Company shall be final, binding, and conclusive.  The obligations of the Company and the rights of the Holder are subject to all applicable laws, rules, and regulations.
t..Covenants and Agreements as Independent Agreements.  Each of the covenants and agreements that is set forth in this Agreement shall be construed as a covenant and agreement independent of any other provision of this Agreement.  The existence of any claim or cause of action of the Holder against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements that are set forth in this Agreement.
u..Headings.  The headings that are used in this Agreement are used for reference and convenience purposes only and do not constitute substantive matters to be considered in construing the terms and provisions of this Agreement.
v..Gender and Number.  Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise.
IN WITNESS WHEREOF, this Agreement has been executed by a duly authorized officer of the Company, and the Holder, to evidence his or her consent and approval of all the terms of this Agreement, has executed this Agreement, as of the Grant Date.

        COMMERCIAL METALS COMPANY

        By: ______________________________
        Name:
        Title:

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Accepted this ___ day of ____________, _____

        
[NAME] 
Address:    
           

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Exhibit a

ELECTION TO INCLUDE PROPERTY IN GROSS INCOME
UNDER SECTION 83(b) OF THE INTERNAL REVENUE CODE

[DATE]

Internal Revenue Service
            
            

The undersigned taxpayer hereby elects pursuant to IRC section 83(b) to include in gross income, as compensation for services, the excess of the fair market value (at the time of transfer) of the property described below over the amount paid for the property. 

The information required to make this election pursuant to Treas. Reg. § 1.83-2(e) is as follows:
1. a. Taxpayer Name:    
        b. Taxpayer Address:   
             
        c. Taxpayer Identification Number:      

2. Description of property with respect to which the election is being made:
            shares of Commercial Metals Company Common Stock

3. a. Date on which property was transferred:       
        b. Tax year for which the election is being made:   

4.Nature of restrictions or risks of forfeiture to which the property is subject:
The shares are subject to a one-year restricted period during which they are subject to restrictions on transfer and may be forfeited on certain terminations of service.

5. Fair market value of property at the time of transfer (determined without regard to  any lapse restriction):     $         A SHARE OR $  

6. Amount paid by taxpayer for the property: $ NONE

7.Copies of this statement have been furnished to the following person(s) as required by Treas. Reg. 1.83-2(d):   COMMERCIAL METALS COMPANY
            P. O. Box 1046
            Dallas, TX 75221

             
SIGNATURE
DATE:      
A-1

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