Document:

Form of Restricted Stock Agreement

  
 EXHIBIT 10.30

  
 EARLE M. JORGENSEN COMPANY 
 RESTRICTED STOCK AGREEMENT 
  
 This Agreement is made and entered into as of the          day of
                , 20    , by and between Earle M. Jorgensen Company, a Delaware corporation (the “Company”), and
             (“Participant”), relating to the grant and issuance of shares of common stock, par value $0.001 per share (“Common Stock”), of the Company under the
Earle M. Jorgensen Company 2004 Stock Incentive Plan (the “Plan”). Capitalized terms used in this Agreement without definition shall have the meanings ascribed to such terms in the Plan. 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company maintains the Plan, which is incorporated into and forms
a part of this Agreement; 
  
 WHEREAS, pursuant to Section 6
[and Section 7]1 of the Plan, the Company desires to grant to Participant, and Participant accepts the grant of,
                     shares of Common Stock (the “Shares”); 
  
 WHEREAS, Participant has been [duly] selected by the Administrator (as defined in the Plan) to receive the Shares
pursuant to Section 6 [and Section 7]1 of the Plan; 
  
 NOW, THEREFORE, in consideration of the above promises and the mutual covenants and agreements hereinafter set forth and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto have agreed, and do hereby agree, as follows: 
  
 ARTICLE 1 
  
 Issuance of Restricted Shares 
  
 1.1 Grant. On the date hereof, pursuant to Section 6 [and Section 7]1 of the Plan, the Company
hereby grants and issues to Participant, and Participant hereby accepts the grant of, the Shares (the “Award”), subject to the terms and conditions hereof. To the extent Participant hereby acquires the Shares and the Shares are not fully
vested as of the date hereof, such Shares shall constitute “Restricted Shares” and shall be subject to all of the restrictions described herein. 
  
 1.2 Issuance and Escrow. Subject to the provisions of Section 3.4 hereof, the Restricted Shares shall be
evidenced by one or more certificates, which shall be held in custody by the Company until the Restricted Shares vest and become Unrestricted Shares (as hereinafter defined) in accordance with Section 2.1 hereof. 

	1	To be included if a performance award. 

  

 1.3 Stockholder Status. Prior to the vesting of the Restricted Shares but only while Participant
remains [a director of] [an employee of] [a service provider to] the Company, Participant shall have the right to vote the Restricted Shares, the right to receive and retain all regular cash dividends paid or distributed in respect of the
Restricted Shares if the record date for such dividends is on or after the date of this Agreement, and except as expressly provided otherwise herein, all other rights as a holder of outstanding shares of Common Stock. 
  
 ARTICLE 2 
  
 Lapse of Restrictions 
  
 The Restricted Shares shall cease to be subject to the restrictions described
herein, and shall cease to constitute Restricted Shares (thereafter being referred to as “Unrestricted Shares”), as set forth below: 
  
 2.1 Vesting. Subject to the provisions of Sections 2.2 and 2.3, the Restricted Shares shall cease to constitute Restricted Shares, and shall become
Unrestricted Shares, pursuant to the following vesting schedule: 
  

			
	 [Date]
 [Performance
 Goal]

	 	 Number of Restricted Shares That
 Vest

	 	 	 
	 	 	 

  
 If and to the extent
that Restricted Shares do not vest in accordance with the foregoing, such Restricted Shares shall be forfeited by Participant and Participant shall have no further rights with respect hereto. The Company shall cancel such forfeited Shares.

  
 2.2 Change in Control. Notwithstanding anything to the
contrary contained in this Agreement, upon a Change in Control, pursuant to Section 8(a) of the Plan, the Administrator shall have the discretion to remove all restrictions applicable to the Restricted Shares, the effect of which shall be that the
Shares relating to such Restricted Shares shall become free of all restrictions and become fully vested and transferable to the full extent of the original grant. 
  
 2.3 Cessation of Services. In the event that Participant ceases to be [a director of] [be an employee of] [a
service provider to] the Company [for any reason], any and all Restricted Shares held by Participant on the date of such cessation shall be immediately forfeited. [To be modified if such termination of employment or provision of
services is by the Company without Cause or by the Participant for Good Reason.]  
  

 ARTICLE 3 
  
 Restrictions on Transfer 
  
 3.1 Restricted Shares. Except as permitted in Section 3.3 hereof, until they vest, Restricted Shares or any
interest therein may not be directly sold, transferred, pledged, hypothecated, or otherwise disposed of (whether by operation of law or otherwise) by Participant, or be subject to execution, attachment or similar process. Any transfer in violation
of this Section 3.1 shall be void and of no further effect. 
  
 3.2 Unrestricted Shares. All Unrestricted Shares shall be freely transferable, subject to compliance with federal and state securities laws. 
  
 3.3 Permitted Transfers. Participant’s Shares (whether or not they constitute Unrestricted Shares) may be transferred to any of
Participant’s Family Members (as defined in the Plan) (a “Transferee”); provided, however, that any Shares so transferred shall remain subject to the restrictions on transfer and forfeiture set forth herein as though such transfer had
not occurred, and further provided that the Transferee agrees in writing to be bound by all of the terms, conditions, and restrictions set forth in this Agreement as a condition precedent to the transfer of the Shares. Restricted Shares shall not
otherwise be transferable except by will or the laws of descent and distribution. 
  
 3.4 Legend. The certificates representing the Shares will bear the following legend: 
  
 “The securities represented by this certificate are subject to certain restrictions on transfer and other agreements set forth in a Restricted Stock
Agreement, dated as of                             , 20     with the
Corporation (the “Restricted Stock Agreement”), copies of which may be obtained at the principal executive office of the Corporation. Any sale, transfer, pledge or other disposition in conflict with, or in derogation of, the Restricted
Stock Agreement are void and of no legal force, effect or validity whatsoever.” 
  
 ARTICLE 4 
  
 Section 83(b) Election 
  
 Participant
understands that Section 83 of the Internal Revenue Code of 1986, as amended (the “Code”), may tax as ordinary income the difference between the amount paid for the Restricted Shares and the Fair Market Value of the Restricted Shares as of
the date any restrictions on the Restricted Shares lapse, in the absence of an 83(b) election. Participant understands that he or she may elect to be taxed at the time of the grant of the Restricted Shares rather than when and as restrictions on the
Restricted Shares lapse by filing an election under 

  

 
Section 83(b) of the Code with the Internal Revenue Service within thirty (30) days from the date hereof and by filing a copy of such election with
Participant’s tax return for the tax year in which the restrictions on the Restricted Shares lapse. PARTICIPANT UNDERSTANDS THAT FAILURE TO MAKE THIS FILING IN A TIMELY MANNER MAY RESULT IN THE RECOGNITION OF ORDINARY INCOME BY PARTICIPANT,
WHEN AND AS THE RESTRICTIONS ON THE RESTRICTED SHARES LAPSE, ON ANY DIFFERENCE BETWEEN THE PURCHASE PRICE, IF ANY, AND THE FAIR MARKET VALUE OF THE RESTRICTED SHARES AT THE TIME SUCH RESTRICTIONS LAPSE. PARTICIPANT ACKNOWLEDGES THAT IT IS
PARTICIPANT’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO TIMELY FILE THE ELECTION UNDER SECTION 83(b). PARTICIPANT ACKNOWLEDGES THAT HE OR SHE SHALL CONSULT PARTICIPANT’S OWN TAX ADVISERS REGARDING THE ADVISABILITY OR
NONADVISABILITY OF MAKING THE ELECTION UNDER SECTION 83(b) OF THE CODE AND ACKNOWLEDGES THAT PARTICIPANT SHALL NOT RELY ON THE COMPANY OR ITS ADVISERS FOR SUCH ADVICE. PARTICIPANT FURTHER ACKNOWLEDGES THAT SHOULD PARTICIPANT FILE THE ELECTION UNDER
SECTION 83(b), PARTICIPANT WILL TIMELY DELIVER A COPY OF SUCH ELECTION TO THE COMPANY. 
  
 ARTICLE 5 
  
 Miscellaneous 
  
 5.1 Notices. Any
notices, consents, or other communication to be sent or given hereunder by any of the parties shall in every case be in writing and shall be deemed properly served if (a) delivered personally, (b) sent by registered or certified mail, in all such
cases with first class postage prepaid, return receipt requested, or (c) delivered to a nationally recognized overnight courier service, to the parties at the addresses set forth below: 
  

			
	If to the Company:	  	Earle M. Jorgensen Company
	 	  	10650 Alameda Street, Lynwood, CA 90262
	 	  	Attention:
                                        
    
	 	  	Facsimile: (323)
        -                    
		
	If to Participant:	  	____________________________

  
 or such other address or to the
attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Date of service of such notice shall be (w) the date such notice is personally delivered, (x) three (3) days after the date of
mailing if sent by certified or registered mail, or (y) one (1) day after date of delivery to the overnight courier if sent by overnight courier. 
  
 5.2 Employment, Directorship or Other Service. No provision of this Agreement or of the Shares granted hereunder shall give the Participant any
right to continued employment, directorship or other service with respect to the Company or any Affiliates, create any inference as to the length of employment, directorship or other service of the Participant, affect the right of 

  

 
the Company or Affiliates to terminate the employment, directorship or other service of the Participant, with or without Cause, or give the Participant any
right to participate in any employee welfare or benefit plan or other program (other than the Plan) of the Company or any of the Affiliates. 
  
 5.3 Governing Law. This Agreement and the Shares granted hereunder shall be governed by, and construed and enforced in accordance with, the laws of
the State of Delaware (other than its laws respecting choice of law). 
  
 5.4 Entire Agreement. This Agreement and the Plan embody the complete agreement and understanding among the parties, and supersede and preempt any prior understandings, agreements or representations by or among the parties, written
or oral, with respect to the subject matter hereof. 
  
 5.5
Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same instrument. 
  
 5.6 Successors and Assigns. This Agreement is intended to bind and
inure to the benefit of, and be enforceable by, Participant and the Company and their respective successors and assigns (including subsequent holders of the Shares). 
  
 5.7 No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the
parties hereto to express their mutual intent, and no rule of strict construction will be applied against any party hereto. 
  
 5.8 Remedies. Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to recover damages by
reason of any breach of any provision of this Agreement and to exercise all other rights existing in its favor. Participant agrees and acknowledges that money damages will not be an adequate remedy for any breach of the provisions of this Agreement
and that the Company shall be entitled to specific performance and injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement. 
  
 5.9 Amendments and Waivers. The Administrator (as defined in the Plan) may amend or waive any of the terms of the
Award heretofore granted, prospectively or retroactively, but no such amendment shall adversely affect the rights of Participant without Participant’s consent. 
  
 5.10 Headings. The captions set forth in this Agreement are for convenience only and shall not be considered as part
of this Agreement or as in any way limiting the terms and provisions hereof. 
  
 [Remainder of page intentionally left blank. 
 Signature page follows.] 
  

 IN WITNESS WHEREOF, the parties have caused this Agreement to be effective as of the date first
written above. 
  

			
	EARLE M. JORGENSEN COMPANY
		
	By:	 	 
	 Name:
	 	 
	 Its:
	 	 
	
	 
	 ParticipantForm of Registration Rights Agreement

 EXHIBIT 10.31 
  

  
 REGISTRATION RIGHTS AGREEMENT 
  
 EARLE M. JORGENSEN
COMPANY 
  
 Dated as of
[                    ] 
  

  

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page

			
	 1.
	 	 Registrations Upon Request
	  	1
	 	 	 1.1    Requests by Kelso
	  	1
	 	 	 1.2    Registration Statement Form
	  	3
	 	 	 1.3    Expenses
	  	3
	 	 	 1.4    Priority in Demand Registrations
	  	4
			
	 2.
	 	 Incidental Registrations
	  	4
			
	 3.
	 	 Registration Procedures
	  	6
			
	 4.
	 	 Underwritten Offerings
	  	10
	 	 	 4.1    Underwriting Agreement
	  	10
	 	 	 4.2    Selection of Underwriters
	  	11
			
	 5.
	 	 Holdback Agreements
	  	11
			
	 6.
	 	 Preparation; Reasonable Investigation
	  	12
			
	 7.
	 	 No Grant of Future Registration Rights
	  	13
			
	 8.
	 	 Indemnification
	  	13
	 	 	 8.1    Indemnification by the Company
	  	13
	 	 	 8.2    Indemnification by the Sellers
	  	14
	 	 	 8.3    Notices of Claims, etc.
	  	14
	 	 	 8.4    Other Indemnification
	  	15
	 	 	 8.5    Indemnification Payments
	  	15
	 	 	 8.6    Other Remedies
	  	15
			
	 9.
	 	 Representations and Warranties
	  	16
			
	 10.
	 	 Definitions
	  	17
			
	 11.
	 	 Miscellaneous
	  	19
	 	 	 11.1    Rule 144, etc.
	  	19
	 	 	 11.2    Successors, Assigns and Transferees
	  	19
	 	 	 11.3    Stock Splits, etc.
	  	20
	 	 	 11.4    Amendment and Modification
	  	20
	 	 	 11.5    Governing Law
	  	20
	 	 	 11.6    Invalidity of Provision
	  	20
	 	 	 11.7    Notices
	  	20
	 	 	 11.8    Headings; Execution in Counterparts
	  	22
	 	 	 11.9    Injunctive Relief
	  	22
	 	 	 11.10  Term
	  	22
	 	 	 11.11  Further Assurances
	  	22
	 	 	 11.12  Entire Agreement
	  	22

  

 i 

  
 REGISTRATION RIGHTS AGREEMENT

  
 REGISTRATION RIGHTS AGREEMENT, dated as of
                    , among Earle M. Jorgensen Company, a Delaware corporation (the “Company”), Kelso Investment
Associates, L.P., a Delaware limited partnership (“KIA LP”), Kelso Equity Partners II, L.P., a Delaware limited partnership (“KEP II”), KIA III-Earle M. Jorgensen, L.P., a Delaware limited partnership
(“KIA III-EMJ”), and Kelso Investment Associates IV, L.P., a Delaware limited partnership (“KIA IV”, and together with KIA LP, KEP II and KIA III-EMJ, “Kelso”) and Maurice S.
Nelson, Jr. (“Nelson”). Kelso and Nelson are hereinafter referred to collectively as the “Stockholders.” Capitalized terms used herein without definition are defined in Section 10. 
  
 WHEREAS, in connection with a financial restructuring of the Company that is
conditioned, among other things, upon the consummation of an IPO, the Stockholders will receive shares of Common Stock upon the conversion of or in exchange for outstanding securities of Earl M. Jorgensen Holding Company, Inc., a Delaware
corporation, held by such Stockholders; and 
  
 WHEREAS, the
parties hereto wish to set forth certain rights and obligations with respect to the registration of the shares of Common Stock under the Securities Act. 
  
 NOW, THEREFORE, in consideration of the mutual covenants and obligations set forth in this Agreement, the parties hereto agree as follows: 
  
 1. Registrations Upon Request. 
  
 1.1 Requests by Kelso. 
  
 (a) Notice of Request. At any time, and from time to
time, Kelso shall have the right to make up to five separate requests that the Company effect the registration under the Securities Act of all or a portion of the Registrable Securities owned by the Kelso Investors, each such request to specify the
intended method or methods of disposition thereof (it being understood that the right to request registration on a Shelf Registration Statement shall be governed by Section 1.1(b)). A request made by Kelso shall not be counted for purposes of the
request limitations set forth above (i) if Kelso determines in its good faith judgment to withdraw the proposed registration of any Registrable Securities requested to be registered pursuant to this Section 1.1 due to marketing or regulatory
reasons, (ii) the registration statement relating to any such request is not declared effective within 90 days of the date such registration statement is first filed with the Commission, (iii) if, within 180 days after the registration

  

 
relating to any such request has become effective, such registration is interfered with by any stop order, injunction or other order or requirement of the
Commission or other governmental agency or court for any reason and the Company fails to have such stop order, injunction or other order or requirement removed, withdrawn or resolved to Kelso’s reasonable satisfaction within 30 days,
(iv) if more than 10% of the Registrable Securities requested by Kelso to be included in the registration are not so included pursuant to Section 1.4, or (v) the conditions to closing specified in the underwriting agreement or purchase
agreement entered into in connection with the registration relating to any such request are not waived or satisfied (other than as a result of a default or breach thereunder by Kelso) prior to the termination date set forth in such underwriting
agreement or purchase agreement. Upon any such request, the Company will promptly, but in any event within 15 days, give written notice of such request to all holders of Registrable Securities and thereupon the Company will, subject to Section 1.4,
use its best efforts to effect the prompt registration under the Securities Act of: 
  
 (i) the Registrable Securities which the Company has been so requested to register by Kelso, and 
  
 (ii) all other Registrable Securities which the Company has
been requested to register by the holders thereof (whether pursuant to the rights granted to such holders in Section 2 or in any other agreement between such holder and the Company) by written request given to the Company by such holders within 15
days after the giving of such written notice by the Company to such holders, 
  
 all to the extent required to permit the disposition of the Registrable Securities so to be registered in accordance with the intended method or methods of disposition of Kelso. 
  
 (b) Shelf Registration. The right of Kelso to request a registration of Registrable Securities
pursuant to Section 1.1(a) shall include the right from and after the first anniversary of the IPO to request that the Company file a registration statement to permit the requesting holder to sell Registrable Securities on a delayed or continuous
basis pursuant to Rule 415 under the Securities Act (or any similar rule that may be adopted by the Commission) in accordance with the intended method or methods of disposition by such requesting holder (a “Shelf Registration
Statement”). Notwithstanding anything to the contrary herein, 
  
 (i) upon any Shelf Registration Statement having been declared effective, the Company shall use reasonable best efforts to keep such Shelf Registration Statement continuously effective until the earlier of (x)
such time as all Registrable Securities that could be sold under such Shelf 

  

 2 

 
Registration Statement have been sold or are no longer outstanding and (y) two years from the date of effectiveness; 
  
 (ii) if at any time following the effectiveness of any Shelf
Registration Statement, Kelso desires to sell Registrable Securities pursuant thereto, Kelso shall notify the Company of such intent at least ten Business Days prior to any such sale (any such proposed transaction, a “Take-down
Transaction”), and the Company thereupon shall, subject to Section 1.1(c), prepare and file within ten Business Days a prospectus supplement or post-effective amendment to the Shelf Registration Statement, as necessary, to permit the
consummation of such Take-down Transaction; 
  
 (iii) upon receipt of notice from Kelso regarding a Take-down Transaction as provided in clause (ii) of this Section 1.1(b), the Company shall immediately deliver notice to any other holders of Registrable Securities whose Registrable
Securities have been included in such Shelf Registration Statement and shall permit such holders to participate in such Take-down Transaction (subject to Section 1.4), it being understood, for the avoidance of doubt, that no holder other than Kelso
shall have the right to initiate a Take-Down Transaction; and 
  
 (iv) each holder who participates in a Take-Down Transaction shall be deemed through such participation to have represented to the Company that any information previously supplied by such holder, unless modified by
such holder by written notice to the Company, remains accurate as of the date of the prospectus supplement or amendment to the Shelf Registration Statement, as applicable.  
  
 (c) Blackout. Notwithstanding the foregoing, but subject to the rights of holders of Registrable
Securities under Section 2, if the Company shall at any time (including upon receipt of notice regarding a Take-down Transaction) furnish to Kelso a Material Event Notice, the Company may defer the filing (but not the preparation) of a registration
statement (or prospectus supplement or post-effective amendment, as applicable) to be filed pursuant to this Section 1.1 for up to 90 days (but the Company shall use its reasonable best efforts to complete the transaction and file the registration
statement as soon as possible). 
  
 1.2 Registration Statement
Form. A registration requested pursuant to Section 1.1 shall be effected by the filing of a registration statement on a form agreed to by Kelso. 
  
 1.3 Expenses. The Company shall pay all Registration Expenses in connection with any registration requested under Section 1.1; provided that
each seller of 

  

 3 

 
Registrable Securities shall pay all Registration Expenses to the extent required to be paid by such seller under applicable law and all underwriting
discounts and commissions and transfer taxes, if any. 
  
 1.4
Priority in Demand Registrations. If a registration pursuant to Section 1.1 (including any Take-down Transaction) involves an underwritten offering, and the managing underwriter (or, in the case of an offering which is not underwritten, a
nationally recognized investment banking firm) shall advise the Company in writing (with a copy to each Person requesting registration of Registrable Securities) that, in its opinion, the number of securities requested, and otherwise proposed to be
included in such registration, exceeds the number which can be sold in such offering without materially and adversely affecting the offering price, the Company shall include in such registration, to the extent of the number which the Company is so
advised can be sold in such offering without such material adverse effect, first, the Registrable Securities of the Kelso Investors and Nelson, on a pro rata basis (based on the number of shares of Registrable Securities owned
by each such Stockholder), and second, the securities, if any, being sold by the Company. Notwithstanding the foregoing, Nelson shall not be entitled to participate in any such registration requested by Kelso (including any Take-down
Transaction) to the extent that the managing underwriter (or, in the case of an offering that is not underwritten, a nationally recognized investment banking firm) shall determine in good faith and in writing (with a copy to each affected Person
requesting registration of Registrable Securities), that the participation of Nelson would materially and adversely affect the marketability or offering price of the securities being sold in such registration, it being understood that the Company
shall include in such registration that number of shares of Nelson which can be sold in such offering without materially and adversely affecting the marketability or offering price of the other securities to be sold in such registration. In
the event of any such determination under this Section 1.4, the Company shall give the affected holders of Registrable Securities notice of such determination and in lieu of the notice otherwise required under Section 1.1. 
  
 2. Incidental Registrations. If the Company at any time proposes to
register any of its equity securities under the Securities Act for its own account (including, but not limited to, a Shelf Registration Statement, but other than pursuant to a registration on Form S-4 or S-8 or any successor form), then the Company
shall give prompt written notice to all holders of Registrable Securities regarding such proposed registration. Upon the written request of any such holder made within 15 days after the receipt of any such notice (which request shall specify the
number of Registrable Securities intended to be disposed of by such holder and the intended method or methods of disposition thereof), the Company shall use its reasonable best efforts to effect the registration under the Securities Act of such
Registrable Securities on a pro rata basis in accordance with such intended method or methods of disposition, provided that: 
  
 (a) (i) the Company shall not include Registrable Securities in such proposed registration to the extent that the Board shall have
determined, after consultation with the managing underwriter for such offering, that it would materially and adversely affect the offering price to include any Registrable Securities in such registration and (ii) the Company shall not include
Registrable Securities of Nelson in any proposed registration pursuant to this Section 2 to the extent that the managing underwriter (or, in the case of an offering that is not underwritten, a nationally recognized investment banker) shall determine
in good faith that the participation of Nelson would materially and adversely affect the marketability or the offering price of the securities being sold in such registration and provided, further, that in the event of any such
determination under clause (i) or (ii), the Company shall give the affected holders of Registrable Securities notice of such determination and in lieu of the notice otherwise required by the first sentence of this Section 2; 
  

 4 

 (b) if, at any time after giving written notice (pursuant to this Section 2) of its
intention to register equity securities and prior to the effective date of the registration statement filed in connection with such registration, the Company shall determine for any reason not to register such equity securities, the Company may, at
its election, give written notice of such determination to each holder of Registrable Securities and, thereupon, shall not be obligated to register any Registrable Securities in connection with such registration (but shall nevertheless pay the
Registration Expenses in connection therewith), without prejudice, however, to the rights of Kelso that a registration be effected under Section 1.1; 
  
 (c) if in connection with a registration pursuant to this Section 2, the managing underwriter of such registration (or, in the case of an
offering that is not underwritten, a nationally recognized investment banking firm) shall advise the Company in writing (with a copy to each holder of Registrable Securities requesting registration thereof) that the number of securities requested
and otherwise proposed to be included in such registration exceeds the number which can be sold in such offering without materially and adversely affecting the offering price of the securities being sold in such registration, then in the case of any
registration pursuant to this Section 2, the Company shall include in such registration to the extent of the number which the Company is so advised can be sold in such offering without such material adverse effect, first, the securities, if
any, being sold by the Company, and second, the Registrable Securities of the Kelso Investors and Nelson, on a pro rata basis (based on the number of shares of Registrable Securities owned by each such Stockholder); and 
  
 (d) the Company shall not be required to effect any
registration of Common Stock under this Section 2 incidental to the registration of its securities in connection with mergers, acquisitions, exchange offers, dividend reinvestment 

  

 5 

 
plans or stock option or other executive or employee benefit or compensation plans. 
  
 The Company shall pay all Registration Expenses in connection with each registration of Registrable Securities requested
pursuant to this Section 2, provided that each seller of Registrable Securities shall pay all Registration Expenses to the extent required to be paid by such seller under applicable law and all underwriting discounts and commissions and
transfer taxes, if any. No registration effected under this Section 2 shall relieve the Company from its obligation to effect registrations under Section 1.1. 
  

3. Registration Procedures. Subject to Sections 1.1(b), if and whenever the Company is required to use its reasonable best efforts to effect the
registration of any Registrable Securities under the Securities Act pursuant to Sections 1.1 or 2, the Company shall promptly: 
  
 (a) prepare, and as soon as practicable, but in any event within 60 days thereafter, file with the Commission, a registration statement
with respect to such Registrable Securities, make all required filings with the NASD and use its reasonable best efforts to cause such registration statement to become effective as soon as practicable; 
  
 (b) prepare and promptly file with the Commission such
amendments and post-effective amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for so long as is required to comply with the
provisions of the Securities Act and to complete the disposition of all securities covered by such registration statement in accordance with the intended method or methods of disposition thereof, but (other than in the case of a Shelf Registration
Statement) in no event for a period of more than 180 days after such registration statement becomes effective; 
  
 (c) furnish copies of all documents proposed to be filed with the Commission in connection with such registration to (i) counsel
selected by Kelso in the case of a registration pursuant to Section 1.1 and otherwise the Majority Holders, and which counsel may also be counsel to the Company, and (ii) each seller of Registrable Securities (in the case of the initial
filing of a registration statement, within five Business Days of such initial filing), and such documents shall be subject to the review of such counsel, provided that the Company shall not file any registration statement or any amendment or
post-effective amendment or supplement to such registration statement or the prospectus used in connection therewith to which such counsel shall have reasonably objected on the grounds that such registration statement amendment, supplement or
prospectus does not 

  

 6 

 
comply (explaining why) in all material respects with the requirements of the Securities Act or of the rules or regulations thereunder; 
  
 (d) furnish to each seller of Registrable Securities,
without charge, such number of conformed copies of such registration statement and of each such amendment and supplement thereto (in each case including all exhibits and documents filed therewith) and such number of copies of the prospectus included
in such registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such other
documents, as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such seller in accordance with the intended method or methods of disposition thereof; 
  
 (e) use its best efforts to register or qualify such
Registrable Securities covered by such registration statement under the securities or blue sky laws of such jurisdictions as each seller shall reasonably request, and do any and all other acts and things which may be necessary or advisable to enable
such seller to consummate the disposition of such Registrable Securities in such jurisdictions in accordance with the intended method or methods of disposition thereof, provided that the Company shall not for any such purpose be required to
qualify generally to do business as a foreign corporation in any jurisdiction wherein it is not so qualified, subject itself to taxation in any jurisdiction wherein it is not so subject, or take any action which would subject it to general service
of process in any jurisdiction wherein it is not so subject; 
  
 (f) use its best efforts to cause all Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies, authorities or self-regulatory bodies as may
be necessary by virtue of the business and operations of the Company to enable the seller or sellers thereof to consummate the disposition of such Registrable Securities in accordance with the intended method or methods of disposition thereof;

  
 (g) in any underwritten offering, furnish to
Kelso: 
  
 (i) an opinion of counsel for the
Company experienced in securities law matters, dated the effective date of the registration statement (and, if such registration includes an underwritten public offering, the date of the closing under the underwriting agreement), and 
  
 (ii) a “comfort” letter (unless the registration
is pursuant to Section 2 and such a letter is not otherwise being furnished to the Company), dated the effective date of such registration statement (and if such registration includes an underwritten public offering, dated the date 

  

 7 

 
of the closing under the underwriting agreement), signed by the independent public accountants who have issued an audit report on the Company’s
financial statements included in the registration statement, 
  
 covering such matters as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to the underwriters in underwritten public offerings of securities and such other matters as Kelso may
reasonably request; 
  
 (h) notify each seller of
any Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event or existence of any fact as a result of which the
prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in
light of the circumstances then existing, (i) in the case of a Shelf Registration Statement, if a Stockholder has provided notice of an intent to sell, within five Business Days of such notice and (ii) in the case of any other
registration statement hereunder, as promptly as is practicable but in any event, no later than 30 days after such notice (except in the case of clause (i) or (ii) to the extent the Company delivers a Material Event Notice, in which case such period
may be up to 60 days but shall end upon public disclosure of the material transaction which necessitated such Material Event Notice), prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such
prospectus as may be necessary so that, as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in light of the circumstances then existing; 
  
 (i) otherwise comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as
reasonably practicable, an earnings statement of the Company (in form complying with the provisions of Rule 158 under the Securities Act) covering the period of at least 12 months, but not more than 18 months, beginning with the first month after
the effective date of such registration statement; 
  
 (j) notify each seller of any Registrable Securities covered by such registration statement (i) when the prospectus or any prospectus supplement or post-effective amendment has been filed, and, with respect to such registration
statement or any post-effective amendment, when the same has become effective, (ii) of any request by the Commission for amendments or supplements to such registration statement or to amend or to supplement such prospectus or for additional
information, (iii) of the issuance by the Commission of any stop order 

  

 8 

 
suspending the effectiveness of such registration statement or the initiation of any proceedings for that purpose and (iv) of the suspension of the
qualification of such securities for offering or sale in any jurisdiction, or of the institution of any proceedings for any of such purposes; 
  
 (k) use every reasonable effort to obtain the lifting of any stop order that might be issued suspending the effectiveness of such
registration statement at the earliest possible moment; 
  
 (l) use its best efforts (i) (A) to list such Registrable Securities on any securities exchange on which the equity securities of the Company are then listed or, if no such equity securities are then
listed, on an exchange selected by the Company, if such listing is then permitted under the rules of such exchange, or (B) if such listing is not practicable, to secure designation of such securities as a NASDAQ “national market system
security” within the meaning of Rule 11Aa2-1 under the Exchange Act or, failing that, to secure NASDAQ authorization for such Registrable Securities, and, without limiting the foregoing, to arrange for at least two market makers to register as
such with respect to such Registrable Securities with the NASD, and (ii) to provide a transfer agent and registrar for such Registrable Securities not later than the effective date of such registration statement and to instruct such transfer
agent (A) to release any stop transfer order with respect to the certificates with respect to the Registrable Securities being sold and (B) to furnish certificates without restrictive legends representing ownership of the shares being
sold, in such denominations requested by the sellers of the Registrable Securities or the lead underwriter; 
  
 (m) enter into such agreements and take such other actions as the sellers of Registrable Securities or the underwriters reasonably request
in order to expedite or facilitate the disposition of such Registrable Securities, including, without limitation, preparing for, and participating in, such number of “road shows” and all such other customary selling efforts as the
underwriters reasonably request in order to expedite or facilitate such disposition; 
  
 (n) furnish to any holder of such Registrable Securities on a confidential basis such information and assistance as such holder may
reasonably request in connection with any “due diligence” effort which such seller deems appropriate; and 
  
 (o) use its reasonable best efforts to take all other steps necessary to effect the registration of such Registrable Securities
contemplated hereby. 
  
 As a condition to its registration of
Registrable Securities of any prospective seller, the Company may require such seller of any Registrable Securities as to which any registration is being effected to execute powers-of-attorney, custody 

  

 9 

 
arrangements and other customary agreements appropriate to facilitate the offering and to furnish to the Company such information regarding such seller, its
ownership of Registrable Securities and the disposition of such Registrable Securities as the Company may from time to time reasonably request in writing and as shall be required by law in connection therewith. Each such holder agrees to furnish
promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such holder not materially misleading. 
  
 The Company agrees not to file or make any amendment to any registration statement with respect to any Registrable
Securities, or any amendment of or supplement to the prospectus used in connection therewith, which refers to any holder of Registrable Securities, or otherwise identifies any holder of Registrable Securities as the holder of any Registrable
Securities, without the consent of such holder, such consent not to be unreasonably withheld or delayed, unless such disclosure is required by law. 
  
 By acquisition of Registrable Securities, each holder of such Registrable Securities shall be deemed to have agreed that upon receipt of any notice from
the Company of the happening of any event of the kind described in Section 3(h), such holder will promptly discontinue such holder’s disposition of Registrable Securities pursuant to the registration statement covering such Registrable
Securities until such holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3(h). If so directed by the Company, each holder of Registrable Securities will deliver to the Company (at the Company’s
expense) all copies, other than permanent file copies, in such holder’s possession of the prospectus covering such Registrable Securities at the time of receipt of such notice. In the event that the Company shall give any such notice, the
period mentioned in Section 3(a) shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each seller of any Registrable Securities covered by such registration
statement shall have received the copies of the supplemented or amended prospectus contemplated by Section 3(h). 
  
 4. Underwritten Offerings. 
  
 4.1 Underwriting Agreement. If requested by the underwriters for any underwritten offering pursuant to a registration requested under Section 1.1
or 2 (including any Take-down Transaction), the Company shall enter into an underwriting agreement with the underwriters for such offering, such agreement to be reasonably satisfactory in substance and form to the underwriters and to Kelso (unless
Kelso is not participating in such registration, in which case, counsel to the Majority Holders). Any such underwriting agreement shall contain such representations and warranties by the Company and such other terms and provisions as are customarily
contained in agreements of this type, including, without limitation, indemnities to the effect and to the extent provided in Section 8. Each holder of Registrable Securities to be distributed by 

  

 10 

 
such underwriter who owns 10% or more of the Common Stock (computed on a fully-diluted basis) at the time of such offering shall be a party to such
underwriting agreement and may, at such holder’s option, require that any or all of the representations and warranties by, and the agreements on the part of, the Company to and for the benefit of such underwriters be made to and for the benefit
of such holder of Registrable Securities and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement shall also be conditions precedent to the obligations of such holder of Registrable
Securities. No Stockholder in its capacity as stockholder and/or controlling person (but not in its capacity as director or officer of the Company) shall be required by any underwriting agreement to make any representations or warranties to or
agreements with the Company or the underwriters other than representations, warranties or agreements regarding such holder, the ownership of such holder’s Registrable Securities and such holder’s intended method or methods of disposition
and any other representation required by law or to furnish any indemnity to any Person which is broader than the indemnity furnished by such holder pursuant to Section 8.2. 
  
 4.2 Selection of Underwriters. If the Company at any time proposes to register any of its securities under the
Securities Act for sale for its own account pursuant to an underwritten offering, the Company will have the right to select the managing underwriter (which shall be of nationally recognized standing) to administer the offering, but if the Kelso
Investors at such time own at least 51% of the number of shares of Common Stock they own on the date hereof, only with the approval of Kelso, such approval not to be unreasonably withheld. Notwithstanding the foregoing sentence, whenever a
registration requested pursuant to Section 1.1 is for an underwritten offering, Kelso will have the right to select the managing underwriter (which shall be of nationally recognized standing) to administer the offering, but only with the approval of
the Company, such approval not to be unreasonably withheld. 
  
 5.
Holdback Agreements. 
  
 (a) If and
whenever the Company proposes to register any of its equity securities under the Securities Act for its own account (other than on Form S-4 or S-8 or any successor form) or is required to use its reasonable best efforts to effect the registration of
any Registrable Securities under the Securities Act pursuant to Section 1.1 or 2, each holder of Registrable Securities agrees by acquisition of such Registrable Securities not to effect any sale or distribution, including any sale pursuant to Rule
144 under the Securities Act, or to request registration under Section 1.1 of any Registrable Securities within seven days prior to and 90 days (unless advised by the managing underwriter that a longer period, not to exceed 180 days, is required, or
such shorter period as the managing underwriter for any underwritten offering may agree) after the effective date of the registration statement relating to such registration (the “Trigger Date”), except as part of 

  

 11 

 
such registration or unless, in the case of a sale or distribution not involving a public offering, the transferee agrees in writing to be subject to this
Section 5, even if such Registrable Securities cease to be Registrable Securities upon such transfer; provided that, with respect to any Shelf Registration Statement, the Trigger Date shall be the pricing of any offering made under such
registration statement. If requested by such managing underwriter, each holder of Registrable Securities agrees to execute an agreement to such effect with the Company and consistent with such managing underwriter’s customary form of holdback
agreement. 
  
 (b) The Company agrees not to
effect any public sale or distribution of its equity securities or securities convertible into or exchangeable or exercisable for any of such securities within seven days prior to and 90 days (or such longer period, not to exceed 180 days, which may
be required by the managing underwriter, or such shorter period as the managing underwriter may agree) after the Trigger Date with respect to any registration statement filed pursuant to Section 1.1 (except (i) as part of such registration,
(ii) as permitted by any related underwriting agreement, (iii) pursuant to an employee equity compensation plan, or (iv) pursuant to a registration on Form S-4 or S-8 or any successor form); provided that, with respect to
any Shelf Registration Statement, the Trigger Date shall be the pricing of any offering made under such registration statement. In addition, if, and to the extent requested by the managing underwriter, the Company shall use its reasonable best
efforts to cause each holder (other than any holder already subject to Section 5(a)) of its equity securities or any securities convertible into or exchangeable or exercisable for any of such securities, whether outstanding on the date of this
Agreement or issued at any time after the date of this Agreement (other than any such securities acquired in a public offering), to agree not to effect any such public sale or distribution of such securities during such period, except as part of any
such registration if permitted, and to cause each such holder to enter into an agreement to such effect with the Company and consistent with such managing underwriter’s customary form of holdback agreement. 
  
 6. Preparation; Reasonable Investigation. In connection with the
preparation and filing of each registration statement registering Registrable Securities under the Securities Act, the Company shall give counsel referred to in clause (c) of Section 3 the opportunity to participate in the preparation of such
registration statement, each prospectus included therein or filed with the Commission, and each amendment thereof or supplement thereto, and shall give such counsel access to the financial and other records, pertinent corporate documents and
properties of the Company and its subsidiaries and opportunities to discuss the business of the Company with its officers and the independent public accountants who have issued audit reports on its financial 

  

 12 

 
statements in each case as shall be reasonably requested by such counsel in connection with such registration statement. 
  
 7. No Grant of Future Registration Rights. The Company shall not grant
any other demand or incidental registration rights to any other Person without the prior written consent of Kelso, so long as the Kelso Investors continue to own at least 15% of the number of shares of Common Stock that the Kelso Investors own on
the date hereof. 
  
 8. Indemnification. 
  
 8.1 Indemnification by the Company. In the event of any registration
of any Registrable Securities pursuant to this Agreement, the Company shall indemnify, defend and hold harmless (a) each seller of such Registrable Securities, (b) the directors, members, stockholders, officers, partners, employees,
agents and Affiliates of such seller, (c) each Person who participates as an underwriter in the offering or sale of such securities and (d) each person, if any, who controls (within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act) any of the foregoing against any and all losses, claims, damages or liabilities (or actions or proceedings in respect thereof), jointly or severally, directly or indirectly, based upon or arising out of (i) any
untrue statement or alleged untrue statement of a fact contained in any registration statement under which such Registrable Securities were registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus
contained therein or used in connection with the offering of securities covered thereby, or any amendment or supplement thereto, or (ii) any omission or alleged omission to state a fact required to be stated therein or necessary to make the
statements therein not misleading; and the Company will reimburse each such indemnified party for any legal or any other expenses reasonably incurred by them in connection with enforcing its rights hereunder or under the underwriting agreement
entered into in connection with such offering or investigating, preparing, pursuing or defending any such loss, claim, damage, liability, action or proceeding, except insofar as any such loss, claim, damage, liability, action, proceeding or expense
arises out of or is based upon an untrue statement or omission made in such registration statement, any such preliminary prospectus, final prospectus, summary prospectus, amendment or supplement in reliance upon and in conformity with written
information furnished to the Company by such seller expressly for use in the preparation thereof in accordance with the second sentence of Section 8.2. Such indemnity shall remain in full force and effect, regardless of any investigation made by
such indemnified party and shall survive the transfer of such Registrable Securities by such seller. If the Company is entitled to, and does, assume the defense of the related action or proceedings provided herein, then the indemnity agreement
contained in this Section 8.1 shall not apply to amounts paid in settlement of any such loss, claim, damage, liability, action or proceeding if such settlement is effected without the consent of the Company (which consent shall not be unreasonably
withheld or delayed). 
  

 13 

 8.2 Indemnification by the Sellers. The Company may require, as a condition to including any
Registrable Securities in any registration statement filed pursuant to Section 1.1 or 2 (including any Take-down Transaction) that the Company shall have received an undertaking satisfactory to it from each of the prospective sellers of such
Registrable Securities to indemnify and hold harmless, severally, not jointly, in the same manner and to the same extent as set forth in Section 8.1, the Company, its directors, officers, employees, agents and each person, if any, who controls
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) the Company, with respect to any statement or alleged statement in or omission or alleged omission from such registration statement, any preliminary
prospectus, final prospectus or summary prospectus contained therein, or any amendment or supplement thereto, if such statement or alleged statement or omission or alleged omission was made in reliance upon and in conformity with written information
furnished to the Company by such seller expressly for use in the preparation of such registration statement, preliminary prospectus, final prospectus, summary prospectus, amendment or supplement. The Company and the holders of the Registrable
Securities in their capacities as stockholders and/or controlling persons (but not in their capacities as managers of the Company) hereby acknowledge and agree that, unless otherwise expressly agreed to in writing by such holders, the only
information furnished or to be furnished to the Company for use in any registration statement or prospectus relating to the Registrable Securities or in any amendment, supplement or preliminary materials associated therewith are statements
specifically relating to (a) transactions between such holder and its Affiliates, on the one hand, and the Company, on the other hand, (b) the beneficial ownership of shares of Common Stock by such holder and its Affiliates and
(c) the name and address of such holder. If any additional information about such holder or the plan of distribution (other than for an underwritten offering) is required by law to be disclosed in any such document, then such holder shall not
unreasonably withhold its agreement referred to in the immediately preceding sentence of this Section 8.2. Such indemnity shall remain in full force and effect, regardless of any investigation made by or on behalf of the Company or any such
director, officer or controlling person and shall survive the transfer of such Registrable Securities by such seller. The indemnity agreement contained in this Section 8.2 shall not apply to amounts paid in settlement of any such loss, claim,
damage, liability, action or proceeding if such settlement is effected without the consent of such seller (which consent shall not be unreasonably withheld or delayed). The indemnity provided by each seller of Registrable Securities under this
Section 8.2 shall be limited in amount to the net amount of proceeds actually received by such seller from the sale of Registrable Securities pursuant to such registration statement. 
  
 8.3 Notices of Claims, etc. Promptly after receipt by an indemnified party of notice of the commencement of any
action or proceeding involving a claim referred to in the preceding paragraphs of this Section 8, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party, give written notice to the indemnifying party
of the commencement of such action or proceeding, provided that the 

  

 14 

 
failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations under the preceding paragraphs
of this Section 8, except to the extent that the indemnifying party is materially prejudiced by such failure to give notice. In case any such action is brought against an indemnified party, the indemnifying party shall be entitled to participate
therein and to assume the defense thereof, jointly with any other indemnifying party similarly notified, to the extent that it may wish, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to
such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof
except for the reasonable fees and expenses of any counsel retained by such indemnified party to monitor such action or proceeding. Notwithstanding the foregoing, if such indemnified party reasonably determines, based upon advice of independent
counsel, that a conflict of interest may exist between the indemnified party and the indemnifying party with respect to such action and that it is advisable for such indemnified party to be represented by separate counsel, such indemnified party may
retain other counsel, reasonably satisfactory to the indemnifying party, to represent such indemnified party, and the indemnifying party shall pay all reasonable fees and expenses of such counsel. No indemnifying party, in the defense of any such
claim or litigation, shall, except with the consent of such indemnified party, which consent shall not be unreasonably withheld, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof
the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such claim or litigation. 
  
 8.4 Other Indemnification. Indemnification similar to that specified in the preceding paragraphs of this Section 8 (with appropriate modifications)
shall be given by the Company and each seller of Registrable Securities with respect to any required registration (other than under the Securities Act) or other qualification of such Registrable Securities under any federal or state law or
regulation of any governmental authority. 
  
 8.5
Indemnification Payments. Any indemnification required to be made by an indemnifying party pursuant to this Section 8 shall be made by periodic payments to the indemnified party during the course of the action or proceeding, as and when bills
are received by such indemnifying party with respect to an indemnifiable loss, claim, damage, liability or expense incurred by such indemnified party. 
  
 8.6 Other Remedies. If for any reason any indemnification specified in the preceding paragraphs of this Section 8 is unavailable, or is
insufficient to hold harmless an indemnified party, other than by reason of the exceptions provided therein, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims,
damages, liabilities, actions, proceedings or 

  

 15 

 
expenses in such proportion as is appropriate to reflect the relative benefits to and faults of the indemnifying party on the one hand and the indemnified
party on the other and the statements or omissions or alleged statements or omissions which resulted in such loss, claim, damage, liability, action, proceeding or expense, as well as any other relevant equitable considerations. The relative fault of
the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying
party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statements or omissions. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. Notwithstanding the other provisions of this Section 8, in respect of any claim for indemnification
pursuant to this Section 8, no indemnifying party (other than the Company) shall be required to contribute pursuant to this Section 8.6 any amount in excess of (a) the net proceeds received and retained by such indemnifying party from the
sale of its Registrable Securities covered by the applicable registration statement, preliminary prospectus, final prospectus, or supplement or amendment thereto, filed pursuant hereto minus (b) any amounts previously paid by such
indemnifying party pursuant to this Section 8 in respect of such claim, it being understood that insofar as such net proceeds have been distributed by any indemnifying party to its partners, stockholders or members, the amount of such indemnifying
party’s contribution hereunder shall be limited to the net proceeds which it actually recovers from its partners, stockholders or members based upon their relative fault and that to the extent that such indemnifying party has not distributed
such net proceeds, the amount such indemnifying party’s contribution hereunder shall be limited by the percentage of such net proceeds which corresponds to the percentage equity interests in such indemnifying party held by those of its
partners, stockholders or members who have been determined to be at fault. No party shall be liable for contribution under this Section 8.6 except to the extent and under such circumstances as such party would have been liable for indemnification
under this Section 8 if such indemnification were enforceable under applicable law. 
  
 9. Representations and Warranties. Each Stockholder represents and warrants to the Company and each other Stockholder that: 
  
 (a) such Stockholder has the power, authority and capacity (or, in the case of any Stockholder that is a
corporation, limited liability company or limited partnership, all corporate, limited liability company or limited partnership power and authority, as the case may be) to execute, deliver and perform this Agreement; 
  
 (b) in the case of a Stockholder that is a corporation,
limited liability company or limited partnership, the execution, delivery and performance of this 

  

 16 

 
Agreement by such Stockholder has been duly and validly authorized and approved by all necessary corporate, limited liability company or limited partnership
action, as the case may be; 
  
 (c) this
Agreement has been duly and validly executed and delivered by such Stockholder and constitutes a valid and legally binding obligation of such Stockholder, enforceable in accordance with its terms, subject to bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting or relating to creditors’ rights generally and general principles of equity; and 
  
 (d) the execution, delivery and performance of this Agreement by such Stockholder does not and will not violate the terms of or result in
the acceleration of any obligation under (i) any material contract, commitment or other material instrument to which such Stockholder is a party or by which such Stockholder is bound or (ii) in the case of a Stockholder that is a
corporation, limited liability company or limited partnership, the certificate of incorporation, certificate of formation, certificate of limited partnership, by-laws, limited liability company agreement or limited partnership agreement, as the case
may be. 
  
 10. Definitions. For purposes of this
Agreement, the following terms shall have the following respective meanings: 
  
 Affiliate: a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the Person specified. 
  
 Board: the board of directors of the Company.

  
 Business Day: means any day on which
banks are not required or authorized to close in the City of New York. 
  
 Commission: the Securities and Exchange Commission. 
  
 Common Stock: the Common Stock of the Company, par value $.001 per share. 
  
 Exchange Act: the Securities Exchange Act of 1934, as
amended, or any successor federal statute, and the rules and regulations thereunder which shall be in effect at the time. 
  
 IPO: the initial public offering of Common Stock. 
  
 Kelso Investors: Kelso, Affiliates of Kelso and any other Person designated by Kelso. 
  

 17 

 Majority Holders: the holders of at least 51% of the Registrable Securities that
are participating in the registration at issue. 
  
 Material Event Notice: a certificate signed by the President of the Company stating as of the date of such certificate that (i) the filing of a registration statement pursuant to a registration request would require the
disclosure of material information which the Company has a bona fide business purpose for preserving as confidential or (ii) the Company has pending or in process a material transaction (including, but not limited to, a financing
transaction), in either case, the disclosure of which would, in the good faith judgment of the Board, materially and adversely affect the Company. 
  
 NASD: National Association of Securities Dealers, Inc. 
  
 NASDAQ: the Nasdaq National Market. 
  
 Person: an individual, corporation, partnership, limited liability company, joint venture,
association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 
  
 Registrable Securities: the shares of Common Stock beneficially owned (within the meaning of Rule 13d-3 of the Exchange Act) by the
Kelso Investors, Nelson or the Permitted Transferees (as such term is defined in Section 11.2), except for any shares of Common Stock beneficially owned by Nelson that (i) were issued to Nelson pursuant to an effective
registration statement under the Securities Act on Form S-8 or (ii) may be sold by Nelson pursuant to Rule 144(k) under the Securities Act. As to any particular shares of Common Stock, such securities shall cease to be Registrable Securities
when (i) a registration statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, (ii) a
registration statement on Form S-8 with respect to the sale of such securities shall have become effective under the Securities Act, (iii) they shall have been sold to the public pursuant to Rule 144 under the Securities Act, (iv) they
shall have been otherwise transferred other than to a Permitted Transferee and subsequent disposition of them shall not require registration or qualification of them under the Securities Act or any similar state law then in force or (v) they
shall have ceased to be outstanding. Any and all shares of Common Stock which may be issued in respect of, in exchange for, or in substitution for any Registrable Securities, whether by reason of any stock split, stock dividend, reverse stock split,
recapitalization, combination or otherwise, shall also be “Registrable Securities” hereunder. 
  
 Registration Expenses: all expenses incident to the Company’s performance of or compliance with any registration pursuant to
this Agreement, including, without limitation, (i) registration, filing and NASD fees, (ii) fees and 

  

 18 

 
expenses of complying with securities or blue sky laws, (iii) fees and expenses associated with listing securities on an exchange or NASDAQ,
(iv) word processing, duplicating and printing expenses, (v) messenger and delivery expenses, (vi) transfer agents’, trustees’, depositories’, registrars’ and fiscal agents’ fees, (vii) fees and
disbursements of counsel for the Company and of its independent public accountants, including the expenses of any special audits or “cold comfort” letters, (viii) reasonable fees and disbursements of any one counsel retained by the
sellers of Registrable Securities, which counsel shall be designated in the manner specified in Section 3(c) and approved by the Company, such approval not to be unreasonably withheld (provided that the Company hereby pre-approves the selection of
Debevoise & Plimpton LLP as counsel to sellers of Registrable Securities in connection with any registration hereunder), and (ix) any fees and disbursements of underwriters customarily paid by issuers or sellers of securities, but
excluding underwriting discounts and commissions and transfer taxes, if any. 
  
 Securities Act: the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations thereunder which shall be in effect at the time. 
  
 11. Miscellaneous. 
  
 11.1 Rule 144, etc. If the Company shall have filed a registration
statement pursuant to the requirements of Section 12 of the Exchange Act or a registration statement pursuant to the requirements of the Securities Act relating to any class of equity securities, the Company shall file the reports required to be
filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the Commission thereunder, and shall take such further action as any holder of Registrable Securities may reasonably request, all to the extent
required from time to time to enable such holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such rule may be
amended from time to time, or (b) any successor rule or regulation hereafter adopted by the Commission. Upon the reasonable request of any holder of Registrable Securities, the Company shall deliver to such holder a written statement as to
whether it has complied with such requirements. 
  
 11.2
Successors, Assigns and Transferees. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors and assigns under this Section 11.2. The provisions of this Agreement which are
for the benefit of a holder of Registrable Securities shall be for the benefit of and enforceable by any transferee of such Registrable Securities, provided that such transferee acquires such Registrable Securities pursuant to an express
assignment from the transferor, and further provided that such transferee executes a joinder agreement agreeing to be bound by all of the transferor’s obligations hereunder, including, without limitation, Section 5 hereof, copies
of which shall have been delivered to the Company 

  

 19 

 
(each such transferee, a “Permitted Transferee”). Notwithstanding anything herein to the contrary, Nelson must exercise all rights
hereunder on behalf of any of his Permitted Transferees and all other parties hereto shall be entitled to deal exclusively with Nelson and rely on the consent, waiver or any other action by Nelson as the consent, waiver or other action, as the case
may be, of any such Permitted Transferees of Nelson. 
  
 11.3
Stock Splits, etc. Each holder of Registrable Securities agrees that it will vote to effect a stock split, reverse stock split, recapitalization or combination with respect to any Registrable Securities in connection with any registration of
any Registrable Securities hereunder, or otherwise, if (i) the managing underwriter shall advise the Company in writing (or, in connection with an offering that is not underwritten, if an investment banker shall advise the Company in writing)
that in its opinion such a stock split, reverse stock split, recapitalization or combination would facilitate or increase the likelihood of success of the offering, and (ii) such stock split, reverse stock split, recapitalization or
combination does not impact the respective ownership percentages of each such holder of Registrable Securities in the Company. The Company shall cooperate in all respects in effecting any such stock split, reverse stock split, recapitalization or
combination. 
  
 11.4 Amendment and Modification. This
Agreement may be amended, modified or supplemented by the Company with the written consent of Kelso and a majority (by number of shares) of any other holders of Registrable Securities whose interests would be adversely affected by such amendment,
modification or supplement; provided that the interests of any existing holders of Registrable Securities shall not be adversely affected by an amendment, modification or supplement of this Agreement that provides for or has the effect of
providing for an additional grant of demand registration rights or of incidental registration rights with a lower or the same priority as the rights held by such existing holders of Registrable Securities, as long as any such grant of demand
registration rights or incidental registration rights with the same priority are pari passu with those held by such existing holders of Registrable Securities. 
  
 11.5 Governing Law. This Agreement and the rights and obligations of the parties hereunder and the Persons subject
hereto shall be governed by, and construed and interpreted in accordance with, the law of the State of Delaware, without giving effect to the choice of law principles thereof. 
  
 11.6 Invalidity of Provision. The invalidity or unenforceability of any provision of this Agreement in any
jurisdiction shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of this Agreement, including that provision, in any other jurisdiction. 
  
 11.7 Notices. All notices, requests, demands, letters, waivers and
other communications required or permitted to be given under this Agreement shall be in 

  

 20 

 
writing and shall be deemed to have been duly given if (a) delivered personally, (b) mailed, certified or registered mail with postage prepaid,
(c) sent by next-day or overnight mail or delivery or (d) sent by fax, as follows: 
  

	 	(i)	If to the Company, to it at: 

  
 Earle M. Jorgensen Company 
 10650 Alameda
Street 
 Lynwood, California 90262 
 Fax: (323) 567-1034 
 Attention: Corporate Secretary 
  
 with a copy to: 
  
 Katten Muchin Zavis Rosenman 
 2029 Century
Park East, Suite 2600 
 Los Angeles, California 90067 
 Fax: (310) 712-8225 
 Attention: Mark Conley, Esq. 
  
 and with a copy to Kelso at its address set forth in (iii) below.

  

	 	(ii)	If to Nelson, to him at: 

  
 Maurice S. Nelson, Jr. 
 c/o Earle M.
Jorgensen Company 
 10650 Alameda Street 
 Lynwood, California 90262 
 Fax: (323) 567-1034 
  

	 	(iii)	If to Kelso, to it at: 

  
 Kelso & Company 
 320 Park Avenue,
24th Floor 
 New York, New York 10022 
 Fax: 212-7513-3939 
 Attention: General Counsel 
  
 or to such other
Person or address as any party shall specify by notice in writing to the Company. All such notices, requests, demands, letters, waivers and other communications shall be deemed to have been received (w) if by personal delivery on the day
after such delivery, (x) if by certified or registered mail, on the fifth Business Day after the mailing thereof, (y) if by next-day or overnight mail or delivery, on the day delivered, or (z) if by fax, on the day delivered,
provided that such delivery is confirmed. 
  

 21 

 11.8 Headings; Execution in Counterparts. The headings and captions contained herein are for
convenience and shall not control or affect the meaning or construction of any provision hereof. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and which together shall constitute one
and the same instrument. 
  
 11.9 Injunctive Relief. Each
of the parties recognizes and agrees that money damages may be insufficient and, therefore, in the event of a breach of any provision of this Agreement the aggrieved party may elect to institute and prosecute proceedings in any court of competent
jurisdiction to enforce specific performance or to enjoin the continuing breach of this Agreement. Such remedies shall, however, be cumulative and not exclusive, and shall be in addition to any other remedy which such party may have. 
  
 11.10 Term. This Agreement shall be effective as of the date hereof
and shall continue in effect thereafter until the earlier of (a) its termination by the consent of the parties hereto or their respective successors in interest and (b) the date on which no Registrable Securities remain outstanding.

  
 11.11 Further Assurances. Subject to the specific terms
of this Agreement, each of the Company and the Stockholders shall make, execute, acknowledge and deliver such other instruments and documents, and take all such other actions, as may be reasonably required in order to effectuate the purposes of this
Agreement and to consummate the transactions contemplated hereby. 
  
 11.12 Entire Agreement. This Agreement and any agreements entered into in connection with any of the foregoing constitute the entire agreement and the understanding of the parties hereto with the matters referred to herein. This
Agreement and the agreements referred to in the preceding sentence supersede all prior agreements and understandings between the parties with respect to such matters. 
  

 22 

 IN WITNESS WHEREOF this Agreement has been signed by each of the parties hereto, and shall be effective
as of the date first above written. 
  

					
	EARLE M. JORGENSEN COMPANY
			
	By:	 	 	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	KELSO INVESTMENT ASSOCIATES, L.P.
		
	By:	 	Kelso Partners I, L.P.,
	 	 	its General Partner
			
	By:	 	 	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	KELSO EQUITY PARTNERS II, L.P.
			
	By:	 	 	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	KIA III – EARLE M. JORGENSEN, L.P.
		
	By:	 	Kelso Partners III, L.P.,
	 	 	its General Partner
			
	By:	 	 	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

					
	
	KELSO INVESTMENT ASSOCIATES IV, L.P.
		
	By:	 	Kelso Partners IV, L.P.,
	 	 	its General Partner
		
	By:	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	 
	 Maurice S. Nelson, Jr.

  

 2

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