Document:

EX-4.6

 Exhibit 4.6 

FORM OF 11 1/4% SENIOR NOTE 

(Face of 11 1/4% Senior Note) 

11 
1/4% Senior Notes due 2018 

[Global Notes Legend] 
 UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR TO SUCH OTHER ENTITY AS IS REQUIRED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY OR SUCH OTHER REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 

 RYERSON INC. 
 JOSEPH T. RYERSON & SON, INC. 
 11 1/4% SENIOR NOTE DUE 2018 
  

					
	No. [        ]	  	144A CUSIP:	  	[        ]
		  	144A ISIN:	  	[        ]
			
		  	REG S CUSIP:	  	[        ]
		  	REG S ISIN:	  	[        ]

 Ryerson Inc. and Joseph T. Ryerson & Son, Inc., as joint and several obligors, promise to pay to
Cede & Co. or registered assigns, the principal sum of          Dollars ($         ) on October 15, 2018. 

Interest Payment Dates: April 15 and October 15, beginning April 15, 2013 

Record Dates: April 1 and October 1 
 Reference is made to further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as set forth at this place. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature,
this Note shall not be entitled to any benefits under this Indenture referred to on the reverse hereof or be valid or obligatory for any purpose. 

  
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	RYERSON INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	JOSEPH T. RYERSON & SON, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the 11 1/4% Senior Notes 
 referred to in the within-mentioned Indenture: 
 Dated: 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee 
  

			
	By:	 	  

		 	Authorized Signatory

  
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 (Reverse of 11 1/4% Senior Note) 
 11 1/4% Senior Notes due 2018 
 RYERSON INC. 

JOSEPH T. RYERSON & SON, INC. 
 Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

(1) Interest. 
 (a) Ryerson Inc., a Delaware corporation, and Joseph T. Ryerson & Son, Inc., a Delaware corporation (collectively, the “Issuers”), jointly and severally promise to pay interest
on the principal amount set forth on the face hereof at a rate of 11 1/4% per annum. The Issuers will pay interest in United States dollars (except as otherwise provided herein)
semiannually in arrears on April 15 and October 15, commencing on April 15, 2013 or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the Notes
shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including October 10, 2012; provided that if there is no existing Default or Event of Default in the payment of interest,
and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date (but after October 10, 2012), interest shall accrue from such next succeeding Interest Payment Date, except in
the case of the original issuance of Notes, in which case interest shall accrue from the date of authentication. The Issuers shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the
rate equal to 1% per annum in excess of the then applicable interest rate on the Notes to the extent lawful; it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace period) at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event be higher
than the maximum rate permitted by New York law as the same may be modified by United States law of general application. 

(2) Method of Payment. The Issuers will pay interest on the Notes (except defaulted interest) on the applicable Interest Payment
Date to the Persons who are registered Holders of Notes at the close of business on the April 1 and October 1 preceding the Interest Payment Date, even if such Notes are cancelled after such record date and on or before such Interest
Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes shall be payable as to principal, premium and interest at the office or agency of the Issuers maintained for such purpose within or
without the City and State of New York, or, at the option of the Issuers, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of
immediately available funds shall be required with respect to principal of, premium, if 

  
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any, and interest on, all Global Notes and all other Notes the Holders of which shall have provided written wire transfer instructions to the Issuers and the Paying Agent. Such payment shall be
in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 Any payments of principal of and interest on this Note prior to Stated Maturity shall be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof, whether or not noted hereon. The amount due and payable at the maturity of this Note shall be payable only upon presentation and surrender of this Note at an office of the Trustee or the Trustee’s agent
appointed for such purposes. 
 (3) Paying Agent and Registrar. Initially, Wells Fargo Bank, National Association, the
Trustee under the Indenture, shall act as Paying Agent and Registrar. The Issuers may change any Paying Agent or Registrar without notice to any Holder. The Issuers or any of their Restricted Subsidiaries may act in any such capacity. 

(4) Indenture. The Issuers issued the Notes under an Indenture, dated as of October 10, 2012 (the
“Indenture”), among the Issuers, the Guarantors and the Trustee. The terms of the Notes include those stated in the Indenture and those made a part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15
U.S. Code §§ 77aaa-77bbbb) (the “TIA”). To the extent the provisions of this Note are inconsistent with the provisions of the Indenture, the Indenture shall govern. The Notes are subject to all such terms, and Holders are
referred to the Indenture and such Act for a statement of such terms. The Notes issued on the Issue Date are senior unsecured obligations of the Issuers limited to $300,000,000 in aggregate principal amount, plus amounts, if any, sufficient to pay
premium and interest on outstanding the Notes as set forth in Paragraph 2 hereof. The Indenture permits the issuance of Additional Notes subject to compliance with certain conditions. 

The payment of principal and interest on the Notes is unconditionally guaranteed on a senior unsecured basis by the Guarantors.

 (5) Optional Redemption. 
 (a) The Notes may be redeemed, in whole or in part, at any time prior to October 15, 2015, at the option of the Company upon not less than 30 nor more than 60 days’ prior notice sent
electronically or mailed by first-class mail to each Holder’s registered address, at a Redemption Price equal to 100% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to,
the applicable redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date). 
 (b) The Notes are subject to redemption, at the option of the Company, in whole or in part, at any time on or after October 15, 2015, upon not less than 30 nor more than 60 days’ notice at the
following Redemption Prices (expressed as percentages of the principal amount to be redeemed) set forth below, plus accrued and unpaid interest, if any, to, but not including, the redemption date (subject to the right of Holders of record on the
relevant regular record date to receive interest due on an interest payment date that is on or prior to the redemption date), if redeemed during the 12-month period beginning October 15 of the years indicated: 

 

					
	Year	  	Percentage	 
	 2015
	  	 	105.625	% 
	 2016
	  	 	102.813	% 
	 2017 and thereafter
	  	 	100.000	% 

  
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 (c) In addition to the optional redemption of the Notes in accordance with the provisions of
the preceding paragraph, prior to October 15, 2015, the Company may, with the net proceeds of one or more Qualified Equity Offerings, redeem up to 35% of the aggregate principal amount of the outstanding Notes (including Additional Notes) at a
Redemption Price equal to 111.250% of the principal amount of thereof, together with accrued and unpaid interest thereon, if any, to the date of redemption; provided that at least 65% of the principal amount of Notes then outstanding
(including Additional Notes) remains outstanding immediately after the occurrence of any such redemption (excluding Notes held by the Company or its Subsidiaries) and that any such redemption occurs within 90 days following the closing of any such
Qualified Equity Offering. 
 (6) Mandatory Redemption. Except as set forth under Sections 3.9, 4.10 and 4.14 of the
Indenture, the Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes. 

(7) Repurchase at Option of Holder. 
 (a) Upon the occurrence of a Change of Control, each Holder will have the right to require the Issuers to repurchase all or any part (equal to $2,000 and any integral multiple of $1,000 in excess thereof)
of such Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”) at an offer price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon to the date
of purchase. Within 30 days following any Change of Control, the Issuers will mail or deliver a notice to each Holder describing the transaction or transactions that constitute the Change of Control setting forth the procedures governing the Change
of Control Offer required by the Indenture. 
 (b) Upon the occurrence of certain Asset Sales, the Company may be required to
offer to purchase Notes. 
 (c) Holders of the Notes that are the subject of an Offer to Purchase will receive notice of an
Offer to Purchase pursuant to an Asset Sale or a Change of Control from the Issuers prior to any related Purchase Date and may elect to have such Notes purchased by completing the form titled “Option of Holder to Elect Purchase” appearing
below. 
 (8) Notice of Redemption. Notice of redemption shall be delivered at least 30 days but not more than 60 days
before the redemption date to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed in part but only in a minimum amount of $2,000 principal amount (and integral multiples of
$1,000 in excess thereof), unless all of the Notes held by a Holder are to be redeemed. On and after the redemption date, interest ceases to accrue on the Notes or portions hereof called for redemption. 

(9) Denominations, Transfer, Exchange. The Notes are in registered form without coupons in initial denominations of $2,000 and any
integral multiple of $1,000 in excess thereof. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and the Issuers may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuers need not exchange or register the transfer of any Note or portion of a Note selected for
redemption, except for the unredeemed portion of any Note being redeemed in part. Also, they need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a
record date and the corresponding Interest Payment Date. 

  
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 (10) Persons Deemed Owners. The registered holder of a Note may be treated as its
owner for all purposes. 
 (11) Amendment, Supplement and Waiver. Subject to the following paragraphs, the Indenture and
the Notes may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes, including, without limitation, consents obtained in connection with a purchase of or tender
offer or exchange offer for Notes, and any existing Default or Event of Default or compliance with any provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority in aggregate principal amount of the then
outstanding Notes, including consents obtained in connection with a tender offer or exchange offer for the Notes. 
 Without the
consent of any Holders, the Issuers, the Guarantors and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental to the Indenture for any of the following purposes: 

(1) to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants
of the Company in the Indenture, the Guarantees and in the Notes; 
 (2) to add to the covenants of the Company
for the benefit of the Holders, or to surrender any right or power herein conferred upon the Company; 
 (3) to
add additional Events of Default; 
 (4) to provide for uncertificated Notes in addition to or in place of the
certificated Notes; 
 (5) to evidence and provide for the acceptance of appointment under the Indenture by a
successor Trustee; 
 (6) to provide for or confirm the issuance of Additional Notes in accordance with the terms
of the Indenture; 
 (7) to add a Guarantor or to release a Guarantor in accordance with the Indenture;

 (8) to cure any ambiguity, defect, omission, mistake or inconsistency; 

(9) to make any other provisions with respect to matters or questions arising under the Indenture, provided that
such actions pursuant to this clause shall not adversely affect the interests of the Holders in any material respect, as determined in good faith by the Board of Directors of the Company; 

(10) to conform the text of the Indenture or the Notes to any provision of the “Description of Senior Notes” in
the Offering Memorandum to the extent that the Trustee has received an Officers’ Certificate stating that such text constitutes an unintended conflict with the description of the corresponding provision in the “Description of Senior
Notes”; 
 (11) to comply with the rules of any applicable securities depositary; 

(12) to make any amendment to the provisions of the Indenture relating to the transfer and legending of Notes, including,
without limitations, to facilitate the issuance and administration of the Notes; provided, however, that compliance with the Indenture as so amended would not result in Notes being transferred in violation of the Securities Act or any
applicable securities law; or 

  
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 (13) to make any change to the Notes or the Indenture that does not
adversely affect the rights of the holders as determined by the Company as set forth in an Officers’ Certificate. 
 With
the consent of the Holders of not less than a majority in aggregate principal amount of the outstanding Notes, the Issuers, the Guarantors and the Trustee may enter into an indenture or indentures supplemental to the Indenture for the purpose of
adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or the Notes or of modifying in any manner the rights of the Holders under the Indenture, including the definitions therein; provided,
however, that no such supplemental indenture shall, without the consent of the Holder of each outstanding Note affected thereby: 
 (1) change the Stated Maturity of any Note or of any installment of interest on any Note, or reduce the amount payable in respect of the principal thereof or the rate of interest thereon or any premium
payable thereon, or reduce the amount that would be due and payable on acceleration of the maturity thereof, or change the place of payment where, or the coin or currency in which, any Note or any premium or interest thereon is payable, or impair
the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof, or change the date on which any Notes may be subject to redemption or reduce the Redemption Price therefor, 

(2) reduce the percentage in aggregate principal amount of the outstanding Notes, the consent of whose Holders is required
for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences) provided for in the Indenture, 

(3) modify the obligations of the Company to make Offers to Purchase upon a Change of Control or from the Excess Proceeds
of Asset Sales if such modification was done after the occurrence of such Change of Control or such Asset Sale, 

(4) subordinate, in right of payment, the Notes to any other Debt of the Company, 

(5) modify any of the provisions of this paragraph or provisions relating to waiver of defaults or certain covenants,
except to increase any such percentage required for such actions or to provide that certain other provisions of the Indenture cannot be modified or waived without the consent of the Holder of each outstanding Note affected thereby, or 

(6) release any Guarantees required to be maintained under the Indenture (other than in accordance with the terms of the
Indenture). 
 The Holders of not less than a majority in aggregate principal amount of the outstanding Notes may on behalf of
the Holders of all the Notes waive any past default under the Indenture and its consequences, except a default: 

(1) in any payment in respect of the principal of (or premium, if any) or interest on any Notes (including any Note which
is required to have been purchased pursuant to an Offer to Purchase which has been made by the Issuer), or 
 (2)
in respect of a covenant or provision hereof which under the Indenture cannot be modified or amended without the consent of the Holder of each outstanding Note affected. 

  
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 (12) Defaults and Remedies. Events of Default include: 

(1) default in the payment in respect of the principal of (or premium, if any, on) any Note at its maturity (whether at
Stated Maturity or upon repurchase, acceleration, optional redemption or otherwise); 
 (2) default in the
payment of any interest upon any Note when it becomes due and payable, and continuance of such default for a period of 30 days; 
 (3) failure to perform or comply with the Indenture provisions described under Section 5.1 thereof; 
 (4) except as permitted by the Indenture, any Note Guarantee of any Significant Subsidiary (or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary), shall
for any reason cease to be, or it shall be asserted by any Guarantor or the Company not to be, in full force and effect and enforceable in accordance with its terms; 

(5) default in the performance, or breach, of any covenant or agreement of the Company or any Guarantor in the Indenture
(other than a covenant or agreement a default in whose performance or whose breach is specifically dealt with in clauses (1), (2) (3) or (4) above), and continuance of such default or breach for a period of 60 days (or 120 days with
respect to a default under Section 4.3) after written notice thereof has been given to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the outstanding Notes;

 (6) a default or defaults under any bonds, debentures, notes or other evidences of Debt (other than the Notes)
by the Company or any Restricted Subsidiary having, individually or in the aggregate, a principal or similar amount outstanding of at least $20.0 million, whether such Debt now exists or shall hereafter be created, which default or defaults shall
have resulted in the acceleration of the maturity of such Debt prior to its express maturity or shall constitute a failure to pay at least $20.0 million of such Debt when due and payable after the expiration of any applicable grace period with
respect thereto; 
 (7) the entry against the Company or any Restricted Subsidiary that is a Significant
Subsidiary of a final judgment or final judgments for the payment of money in an aggregate amount in excess of $20.0 million, by a court or courts of competent jurisdiction, which judgments remain undischarged, unwaived, unstayed, unbonded or
unsatisfied for a period of 60 consecutive days; or 
 (8)(i) the Company, any Restricted Subsidiary that is a
Significant Subsidiary or any group of Restricted Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary, pursuant to or within the meaning of any Bankruptcy Law: 

(a) commences a voluntary case, 
 (b) consents to the entry of an order for relief against it in an involuntary case, 
 (c) consents to the appointment of a Custodian of it or for all or substantially all of its property, 
 (d) makes a general assignment for the benefit of its creditors, or 

(e) generally is not paying its debts as they become due; 

  
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 or (ii) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (a) is for relief against the Company or any Restricted Subsidiary that is a Significant
Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary, in an involuntary case; 
 (b) appoints a Custodian of the Company or any Restricted Subsidiary that is a Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant
Subsidiary or for all or substantially all of the property of the Company or any of its Restricted Subsidiaries; 

(c) orders the liquidation of the Company or any Restricted Subsidiary that is a Significant Subsidiary or any group of
Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary and the order or decree remains unstayed and in effect for 60 consecutive days. 

If an Event of Default (other than an Event of Default specified in clause (8) above with respect to the Company)
occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and
payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that after such acceleration, but before a judgment or decree based on acceleration, the Holders of a majority in
aggregate principal amount of the outstanding Notes may, under certain circumstances, rescind and annul such acceleration if all Events of Default, other than the nonpayment of accelerated principal of or interest on the Notes, have been cured or
waived as provided in the Indenture. 
 In the event of a declaration of acceleration of the Notes solely because
an Event of Default described in clause (6) above has occurred and is continuing, the declaration of acceleration of the Notes shall be automatically rescinded and annulled if the event of default or payment default triggering such Event of
Default pursuant to clause (6) shall be remedied or cured by the Company or a Restricted Subsidiary of the Company or waived by the holders of the relevant Debt within 20 Business Days after the declaration of acceleration with respect thereto
and if the rescission and annulment of the acceleration of the Notes would not conflict with any judgment or decree of a court of competent jurisdiction obtained by the Trustee for the payment of amounts due on the Notes. 

If an Event of Default specified in clause (8) above occurs with respect to the Company, the principal of and any
accrued interest on the Notes then outstanding shall ipso facto become immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. The Trustee may withhold from Holders notice of any Default (except
Default in payment of principal of, premium, if any, and interest) if the Trustee determines that withholding notice is in the interest of the Holders to do so. 
 (13) Trustee Dealings with the Issuers. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuers, the Guarantors or their
respective Affiliates, and may otherwise deal with the Issuers, the Guarantors or their respective Affiliates, as if it were not the Trustee. 

  
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 (14) No Recourse Against Others. No director, officer, employee,
stockholder, general or limited partner or incorporator, past, present or future, of the Issuers, the Guarantors or any of their respective Subsidiaries, as such or in such capacity, shall have any personal liability for any obligations of the
Issuers under the Notes, any Guarantee or the Indenture by reason of his, her or its status as such director, officer, employee, stockholder, general or limited partner or incorporator. 

(15) Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an
authenticating agent. 
 (16) Abbreviations. Customary abbreviations may be used in the name of a Holder
or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

 (17) CUSIP, ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience to the Holders. No representation is made as to the
accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

The Issuers shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

 Ryerson Inc. 
 Joseph T. Ryerson & Son, Inc. 
 227 West Monroe
Street, 27th Floor 

Chicago, Illinois 60606 
 Facsimile: (312) 292-5000 
 Attention: Erich Schnaufer, Controller and Chief
Accounting Officer 

  
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 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 
  

	
	                             
               
	(Insert assignee’s soc. sec. or tax I.D. no.)
	                             
               
	                             
               
	                             
               
	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                                         
                                         
                                         
                      to transfer this Note on the books of the Issuers. The agent may substitute another to act for him. 

Date:
                         

 

	
	 Your
Signature:                                       
                             

	 (Sign exactly as your name appears on the face of this Note)

 Signature guarantee: 
 (Signature must be guaranteed by a participant in a recognized signature guarantee medallion program) 

  
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 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuers pursuant to Section 4.7 (Restricted Payments), 4.10 (Asset Sale) or
4.14 (Change of Control) of the Indenture, check the box below: 

                    [     
       ] Section 4.7             [            ] Section 4.10
            [            ] Section 4.14 
 If you want to elect to have only part of the Note purchased by the Issuers pursuant to Section 4.7, 4.10 or 4.14 of the Indenture, state the amount you elect to have purchased: $ 

 

					
	
Date:                       
                                     
	 		 	Your
Signature:                                       
                                     
		 		 	(Sign exactly as your name appears on the Note)
			
		 		 	Signature guarantee:

 (Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

  
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 SCHEDULE OF EXCHANGES OF 11 1/4% SENIOR NOTES 
 The following exchanges of a part of this Global Note for
other Notes have been made: 
  

									
	 Date of Exchange
	 	 Amount of
Decrease in
Principal Amount
of this Global Note
	 	 Amount of Increase
in
Principal Amount
of this Global Note
	 	
Principal Amount
of this Global Note Following
Such Decrease (or Increase)
	 	 Signature of Authorized Officer
of Trustee
or Note Custodian

		 		 		 		 	
		 		 		 		 	

  
 - 14 -EX-4.9

 Exhibit 4.9 
 EXCHANGE AGENT AGREEMENT 
 This Exchange Agent Agreement (this
“Agreement”) is entered into as of this     day of July, 2013 by and among Ryerson Inc. (“Ryerson”), a Delaware corporation, Joseph T. Ryerson & Son, Inc. (together with Ryerson, the
“Company”), and Wells Fargo Bank, National Association, a national banking association having a corporate trust office in Minneapolis, Minnesota (hereinafter referred to from time to time as “Wells Fargo” or the “Exchange
Agent”). 
 WHEREAS, Ryerson and JT Ryerson are offering to exchange all of their outstanding 9%
Senior Secured Notes due 2017 (the “Senior Secured Notes”) for new 9% Senior Secured Notes due 2017 (the “Senior Secured Exchange Notes”), and all of their outstanding 11 1/4 % Senior Notes due 2018 (the “Senior Notes” and, together with the Senior Secured Notes, the “Notes”) for new 11 1/4 % Senior Notes due 2018 (the “Senior Exchange Notes” and, together with the Senior Secured Exchange Notes”, the “Exchange Notes”) upon the terms and subject to the conditions set
forth in the Prospectus filed by the Company upon the effectiveness of the Registration Statement on Form S-4, initially filed on June 27, 2013 (as amended, the “Prospectus”), and the related Letter of Transmittal, which together, as
they may be supplemented or amended from time to time, constitute the “Offer.” All capitalized terms not defined herein shall have the meaning ascribed to such term in the Offer; 

WHEREAS, the Offer is expected to be commenced on July     , 2013. The Letter of Transmittal that accompanies the
Offer (or in the case of book-entry securities, the Automated Tender Offer Program (“ATOP”) of DTC (as defined below)) is to be used by the holders of the Notes to accept the Offer. The Letter of Transmittal contains instructions with
respect to the delivery of certificates for Notes tendered in connection therewith; 
 WHEREAS, the Offer shall expire at 5:00
p.m., New York City time, on July     , 2013, or on such subsequent date or time to which the Company may extend the Offer (the “Expiration Date”). Subject to the terms and conditions of the Offer, the Company expressly
reserves the right to extend the Offer from time to time and may extend the Offer by giving oral (promptly confirmed in writing) or written notice to the Exchange Agent before 9:00 a.m., New York City time, on the business day following the
scheduled Expiration Date; 
 WHEREAS, the Company expressly reserves the right, in its sole discretion, to (1) delay
accepting any validly tendered Notes or (2) terminate or amend the Offer, in each case, by giving oral or written notice (any such oral notice to be promptly confirmed in writing) of such delay, termination or amendment to the Exchange Agent.
Any such delay in acceptance, termination or amendment will be followed as promptly as practicable by a public announcement thereof by the Company. 
 NOW, THEREFORE, it is mutually agreed as follows: 
  

	1.	The Company hereby appoints Wells Fargo Bank, National Association as exchange agent in connection with the Offer, and the Exchange Agent hereby accepts its appointment
as exchange agent in accordance with this Agreement. 

	2.	The Exchange Agent will perform such duties and only such duties as are specifically set forth in the section of the Prospectus captioned “The Exchange Offer”
or as specifically set forth herein and no implied covenants or obligations shall be read into this Agreement against the Exchange Agent; provided, however, that in no way will your general duty to act in good faith be discharged by the foregoing.

  

	3.	The Exchange Agent will establish a book-entry account at The Depository Trust Company (“DTC”), in connection with the Offer. Any financial institution that
is a participant in the DTC system may make book-entry delivery of the Notes by causing DTC to transfer such Notes into the account maintained by the Exchange Agent, pursuant to this section, in accordance with DTC’s procedures for such
transfer, and the Exchange Agent may effect a withdrawal of Notes through such account by book-entry movement. The account shall be maintained until all Notes tendered pursuant to the Offer shall have been either accepted for exchange or returned.

  

	4.	The Exchange Agent shall examine each of the Letters of Transmittal and certificates for Notes (or confirmation of book-entry transfer into its account at DTC) and any
other documents delivered or mailed to the Exchange Agent by or for holders of the Notes to ascertain whether: (a) the Letters of Transmittal and such other documents as may be required are duly executed and properly completed in accordance
with instructions set forth therein; and (b) the Notes have otherwise been properly tendered. In each case where the Letter of Transmittal or any other document has been improperly completed or executed or any of the certificates for Notes are
not in proper form for transfer or some other irregularity in connection with the acceptance of the Offer exists, the Exchange Agent will endeavor to inform the presenters of the need for fulfillment of the requirements and to take any other action
as may be reasonably necessary or advisable to cause such irregularity to be corrected. The Exchange Agent shall have no other responsibility with respect to such irregularities. 

 

	5.	With the approval of the Chief Executive Officer, Chief Financial Offer or Vice President and Managing Counsel of the Company (such approval, if given orally, to be
promptly confirmed in writing), or any other party designated in writing by such officer of the Company, the Exchange Agent is authorized to waive any irregularities in connection with any tender pursuant to the Offer. 

 

	6.	Tenders of Notes may be made only as set forth in the section of the Prospectus captioned “The Exchange Offer- How To Tender” and Notes shall be considered
properly tendered or delivered to the Exchange Agent only when tendered in accordance with the procedures set forth therein. 

  

	7.	Notwithstanding the provisions of Section 5 of this Agreement, Notes that the Chief Executive Officer, Chief Financial Offer or Vice President and Managing
Counsel of the Company shall approve as having been properly tendered shall be considered to be properly tendered (such approval, if given orally, shall be promptly confirmed in writing). 

  
 2 

	8.	The Exchange Agent shall advise the Company with respect to any Notes received subsequent to the Expiration Date and accept its written instructions with respect to the
disposition of such Notes. 

  

	9.	The Exchange Agent shall accept tenders: 

  

	 	(a)	in cases where the Notes are registered in two or more names only if signed by all named holders; 

 

	 	(b)	in cases where the signatory (as indicated on the Letter of Transmittal) is acting in a fiduciary or a representative capacity only when proper evidence of its
authority to so act is submitted; and 

  

	 	(c)	from persons other than the registered holder of Notes, provided that customary transfer requirements, including, but not limited to, signature guarantees from DTC
participants are fulfilled, and applicable transfer taxes, if any, are paid. 

 Exchange Agent shall accept
partial tenders of Notes (only to the extent that the partial tender is equal to $2,000 in aggregate principal amount or an integral multiple of $1,000 in excess thereof) and deliver certificates for Notes (or effect appropriate book-entry
transfers) to the registrar for split-up and return any untendered Notes to the holder (or such other person as may be designated in the Letter of Transmittal or, in the case of book-entry transfer, the agent’s message) as promptly as
practicable after expiration or termination of the Offer. 
  

	10.	Upon satisfaction or waiver of all of the conditions to the Offer, the Company will notify the Exchange Agent (such notice, if given orally, to be promptly confirmed in
writing) of its acceptance, promptly after the Expiration Date, of all Notes properly tendered indicating the aggregate principal amount of Notes accepted. The Exchange Agent, on behalf of the Company, will exchange, in accordance with the terms
hereof, accepted Notes for Exchange Notes and cause such Notes to be cancelled. Delivery of the Exchange Notes will be made on behalf of the Company by the Exchange Agent at the rate of $1,000 principal amount of Exchange Notes for each $1,000
principal amount of the corresponding series of Notes tendered promptly after notice (such notice if given orally, to be promptly confirmed in writing) of acceptance of such Notes by the Company; provided, however, that no Notes of
$2,000 or less shall be accepted in part; provided further, however that in all cases, Notes tendered pursuant to the Offer will be exchanged only after timely receipt by the Exchange Agent of certificates for such Notes (or
confirmation of book-entry transfer into its account at DTC), a properly completed and duly executed Letter of Transmittal (or manually signed facsimile thereof) with any required signature guarantees and any other required documents, or an
agent’s message in lieu thereof. The Exchange Agent shall issue Exchange Notes only in denominations of $2,000 or any integral multiple of $1,000 in excess thereof. 

 

	11.	Notes tendered pursuant to the Offer are irrevocable, except that, subject to the terms and upon the conditions set forth in the Prospectus and the Letter of
Transmittal, Notes tendered pursuant to the Offer may be withdrawn at any time on or prior to the Expiration Date. 

  
 3 

	12.	The Company shall not be required to exchange any Notes tendered if any of the conditions set forth in the Offer are not met. Notice of any decision by the Company not
to exchange any Notes tendered shall be given (such notice, if given orally, to be promptly confirmed in writing) by the Company to the Exchange Agent. 

  

	13.	If, pursuant to the Offer, the Company does not accept for exchange all or part of the Notes tendered, the Exchange Agent shall as soon as practicable after the
expiration or termination of the Offer return those certificates representing Notes not accepted for exchange (or effect appropriate book-entry transfer), together with any related required documents and the Letters of Transmittal relating thereto
that are in the Exchange Agent’s possession, to the persons who deposited them (or effected such book-entry transfer). 

  

	14.	All certificates for Exchange Notes and Notes not accepted for exchange shall be forwarded by first-class mail or (in the cases of Notes tendered by book-entry
transfer) by book-entry transfer to the DTC account specified by the holder of the Notes in the Letter of Transmittal (or agent’s message in lieu thereof). 

 

	15.	The Exchange Agent is not authorized to pay or offer to pay any concessions, commissions or solicitation fees to any broker, dealer, commercial bank, trust company or
other persons or to engage or utilize any person to solicit tenders. 

  

	16.	The Exchange Agent: 

  

	 	(a)	shall not be liable for any act or omission by it unless such act or omission constitutes gross negligence, willful misconduct or; in no event shall the Exchange Agent
be liable to a securityholder, the Company or any third party for special, punitive, indirect or consequential damages, including but not limited to lost profits, irrespective of whether the Exchange Agent has been advised of the likelihood of such
loss or damage and regardless of the form of action arising in connection with this Agreement; 

  

	 	(b)	shall have no duties or obligations other than those specifically set forth herein or in the section of the Prospectus captioned “The Exchange Offer” or in
the Letter of Transmittal, or as may be subsequently agreed to in writing between Exchange Agent and the Company; provided however, that in no event will the Exchange Agent’s general duty to act in good faith be discharged by the
foregoing; 

  

	 	(c)	makes no representations and has no responsibility for the validity, sufficiency, value or genuineness of any of the certificates or the Notes represented thereby
deposited with Exchange Agent pursuant to the Offer, and will not be required to and will make no representation as to the validity, sufficiency, value or genuineness of the Offer; 

  
 4 

	 	(d)	shall not be obligated to take any action hereunder which might in the Exchange Agent’s judgment involve any risk of expense, loss or liability, unless it shall
have been furnished with indemnity and/or security reasonably satisfactory to it; 

  

	 	(e)	may conclusively rely on and shall be protected in acting or refraining from acting upon any tender, statement, request, document, certificate, agreement, opinion,
notice, letter or other instrument whatsoever not only as to its due execution and validity and effectiveness of its provisions, but also as to the truth and accuracy of any information contained therein, which Exchange Agent shall in good faith
reasonably believe to be genuine and to have been signed or presented by the proper person or persons; 

  

	 	(f)	may conclusively rely on and shall be protected in acting or refraining from acting upon written or oral instructions from any officer of the Company;

  

	 	(g)	may consult with counsel of its selection, including its in-house counsel, with respect to any questions relating to its duties and responsibilities and the advice or
opinion of such counsel, or any opinion of counsel to the Company provided to the Exchange Agent shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken by the Exchange Agent hereunder
in accordance with the advice or opinion of such counsel; 

  

	 	(h)	will not advise any person tendering Notes pursuant to the Offer as to whether to tender or refrain from tendering all or any portion of Notes or as to the market
value, or the decline or appreciation in market value of any Notes; 

  

	 	(i)	may perform any duties hereunder either directly or by or through agents and attorneys and the Exchange Agent shall not be responsible for any misconduct or negligence
on the part of any agent or attorney appointed with due care by it hereunder; and 

  

	 	(j)	the Company and the Exchange Agent agree that the Exchange Agent may seek adjudication of any adverse claim, demand or controversy over its person, in either a Federal
or State court located in the State and County where either the Exchange Agent’s corporate trust office or the administrative offices of the Company are located; the parties agree that service of process by certified or registered mail, return
receipt requested, to the address referred to in Section 31 of this Agreement shall constitute adequate service. The Company and the Exchange Agent further agree that the Exchange Agent has the right to interplead into a court of competent
jurisdiction to determine the rights of any Person claiming any interest herein. 

  

	17.	The Exchange Agent shall take such action as may from time to time be requested by the Company (and such other action as the Exchange Agent may deem appropriate) to
furnish copies of the Prospectus, Letter of Transmittal and the Notice of Guaranteed Delivery (as described in the Prospectus) or such other forms as may be approved from time to time by the Company to all persons requesting such documents and to
accept and comply with reasonable telephone requests for information relating to the Offer, provided that such information shall relate only to the procedures for accepting (or withdrawing from) the Offer. All other requests for information relating
to the Offer shall be directed to the Company, Attention: Vice President and Managing Counsel. The Company will promptly furnish the Exchange Agent with copies of such documents at its request. 

  
 5 

	18.	The Exchange Agent is authorized to cooperate with and to furnish information to any organization (and its representatives) designated from time to time by the Company
in the manner directed or authorized by the Company in connection with the Offer and any tenders thereunder. 

  

	19.	Up to and including the Expiration Date, the Exchange Agent shall send by email or facsimile transmission to Michael Arnold, Edward Lehner and Mark Silver, the Chief
Executive Officer, Chief Financial Officer and Vice President and Managing Counsel of the Company, respectively, and Joseph Antignani of Willkie Farr & Gallagher LLP (at the email addresses mike.arnold@ryerson.com,
eddie.lehner@ryerson.com, mark.silver@ryerson.com and jantignani@willkie.com, respectively), and such other person or persons as the Company may request weekly (and more frequently during the week immediately preceding the Expiration Date, if
requested), a report of activity, if any, including as to the aggregate principal amount of Notes which have been tendered pursuant to the Offer and the items received by the Exchange Agent pursuant to this Agreement, separately reporting and giving
cumulative totals as items properly received and items improperly received. In addition, the Exchange Agent also will inform, and cooperate in making available to, the Company or any such other person or persons upon oral request made from time to
time prior to the Expiration Date of such other information as they may reasonably request. Such cooperation shall include, without limitation, the granting by the Exchange Agent to the Company and such person as the Company may request, of access
to those persons on the Exchange Agent’s staff who are responsible for receiving tenders, in order to ensure that promptly prior to the Expiration Date and each other Expiration Date, if any, the Company shall have received information in
sufficient detail to enable it to decide whether to extend the Offer. The Exchange Agent shall then prepare a final list of all persons whose tenders were accepted, the principal amount of Notes tendered and the amount accepted, taking into account
any Notes that the Company advised the Exchange Agent were not accepted as a result of proration, and deliver such list to the Company. 

  

	20.	Letters of Transmittal and Notices of Guaranteed Delivery (when received by the Exchange Agent) shall be stamped by Exchange Agent as to the date, and, after the
expiration of the Offer, the time, of receipt thereof and shall be preserved by Exchange Agent for a period of time at least equal to the period of time Exchange Agent preserves records pertaining to the transfer of securities. Exchange Agent shall
dispose of unused Letters of Transmittal and other surplus materials in accordance with its customary procedures. 

  

	21.	For services rendered hereunder, the Exchange Agent shall be entitled to such compensation as shall be agreed to in writing between the Company and the Exchange Agent
and the Company promises to pay such compensation and to reimburse the Exchange Agent for the reasonable out-of-pocket expenses (including attorneys’ and other professionals’ fees and expenses) incurred by it in connection with the
services rendered by it hereunder. The provisions of this section shall survive the termination of this Agreement. 

  
 6 

	22.	Exchange Agent hereby acknowledges receipt of the relevant offering materials, including, but not limited to, the Prospectus and the Letter of Transmittal, which may be
received via electronic transmission in PDF format. 

  

	23.	The Company agrees to indemnify the Exchange Agent for, and to hold it harmless against, any and all loss, liability, damage, claim, cost or expense, including
reasonable attorneys’ fees and expenses (including the reasonable costs and expenses of defending against any claim of liability, regardless of who asserts such claim), incurred by the Exchange Agent that arises out of or in connection with its
accepting appointment as, or acting as, Exchange Agent hereunder, except such losses, liabilities, damages, claims, costs or expenses as may result from the gross negligence, willful misconduct of the Exchange Agent. The Exchange Agent shall incur
no liability and shall be indemnified and held harmless by the Company for, or in respect of, any actions taken, omitted to be taken or suffered to be taken in good faith by it in reliance upon any signature, endorsement, assignment, certificate,
order, request, notice, instruction or other instrument or document believed by the Exchange Agent to be genuine and presented by the proper person or persons and in accepting any tender or effecting any transfer of Notes reasonably believed by
Exchange Agent in good faith to be authorized, and in delaying or refusing in good faith to accept any tenders or effect any transfer of Notes; provided however, that the Company shall not be liable for indemnification for any loss,
liability, cost or expense, including attorneys’ fees and expenses, to the extent arising out of or in connection with your gross negligence, willful misconduct or.. The Exchange Agent shall notify the Company, by letter or facsimile
transmission, of a claim against the Exchange Agent or of any other action commenced against the Exchange Agent, promptly after the Exchange Agent shall have received written notice thereof. The Company shall be entitled to participate at its own
expense in the defense of any such claim or other action and, if the Company so elects, the Company shall assume the defense of any suit brought to enforce any such claim. In the event that the Company shall assume the defense of any such suit, the
Company shall not be liable for the fees and expenses of any additional counsel thereafter retained by the Exchange Agent, so long as the Company shall retain counsel satisfactory to the Exchange Agent; provided, that the Company shall not be
entitled to assume the defense of any such action if the named parties to such action include both the Exchange Agent and the Company and representation of both parties by the same legal counsel would, in the written opinion of the Exchange
Agent’s counsel, be inappropriate due to actual or potential conflicting interests between the Exchange Agent and the Company. The Exchange Agent shall not enter into a settlement or other compromise with respect to any indemnified loss,
liability or expense without the prior written consent of the Company, which shall not be unreasonably withheld. The provisions of this paragraph shall survive the termination of this Agreement. 

  
 7 

	24.	Exchange Agent shall arrange to comply with all applicable withholding and tax reporting requirements under the tax laws of the United States, including those relating
to missing Tax Identification Numbers, and shall file any appropriate reports with the Internal Revenue Service as directed in writing by the Company. 

  

	25.	Exchange Agent shall deliver or cause to be delivered in a timely manner to each governmental authority to which any transfer taxes are payable in respect of the
transfer of Notes to the Company, the Company’s payment in the amount of all transfer taxes so payable; provided, however, that Exchange Agent shall reimburse the Company for amounts refunded to Exchange Agent in respect of
Exchange Agent payment of any such transfer taxes, at such time as such refund is received by Exchange Agent. 

  

	26.	Any entity into which the Exchange Agent may be merged with or which it may be consolidated, or any entity resulting from any merger, conversion or consolidation to
which the Exchange Agent shall be a party, or any entity succeeding to all or substantially all the corporate trust assets or business of the Exchange Agent shall be the successor Exchange Agent under this Agreement without the execution or filing
of any paper or any further act on the part of any of the parties hereto except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding. 

 

	27.	This Agreement and the Exchange Agent’s appointment hereunder shall be construed and enforced in accordance with the laws of the State of New York applicable to
agreements made and to be performed entirely within such state, and without regard to conflicts of laws principles thereof. This Agreement shall inure to the benefit of, and the obligations created hereby shall be binding upon, the successors and
assigns of each of the parties hereto and nothing in this Agreement, express or implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. Without
limiting the foregoing, the parties hereto expressly agree that no holder of the Notes or Exchange Notes shall have any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. The Exchange Agent may assign or transfer
its rights under this Agreement to any of its affiliates without the prior written consent of any party hereto, provided that the Exchange Agent shall notify the Company in writing of such assignment or transfer promptly following the effectiveness
thereof. For purposes of this Section, “affiliate” means any Person that directly or indirectly controls, or is under common control with, or is controlled by, the Exchange Agent, provided that “control” (including its
correlative meanings — “controlled by” and “under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of
securities or partnership or other ownership interests, by contract or otherwise). 

  

	28.	EACH PARTY, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY RIGHT IT MIGHT HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS
AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. 

  
 8 

	29.	This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same
agreement. The exchange of copies of this Agreement and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Agreement as to the parties hereto and may be used in lieu of the original
Agreement for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

 

	30.	In case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby. 

  

	31.	This Agreement shall not be amended, in whole or in part, except by a written instrument signed by the Company and the Exchange Agent. This Agreement may not be
modified orally or by electronic mail (other than in PDF format). 

  

	32.	Unless otherwise provided herein, all notices, requests and other communications to any party hereunder shall be in writing (including facsimile and electronic
transmission in PDF format) and shall be given to such party, addressed to it, at its address or facsimile number set forth below: 

 If to the Company: 
 Ryerson Inc. 

227 W. Monroe, 27th Floor 
 Chicago, Illinois 60606 
 Attention: Mark Silver, Vice President and Managing
Counsel 
 Email: Mark.Silver@ryerson.com 
 with a copy to: 
 Cristopher Greer, Esq. 

Willkie Farr & Gallagher LLP 
 787 Seventh Avenue 
 New York, NY 10019 

Fax: (212)-728-9000 
 If to the Exchange Agent: 
 Wells Fargo Bank, National Association 

Mac N9311-110 

625 Marquette Ave 
 Minneapolis, MN 55479 
 Attention: Corporate Trust Services/Ryerson Account
Manager Facsimile: 612-667-9825 
 Email: lynn.m.steiner@wellsfargo.com 

  
 9 

	33.	This Agreement, the Prospectus and the Letter of Transmittal constitute the entire agreement between the parties hereto. Any inconsistency between this Agreement, on
the one hand, and the Prospectus and the Letter of Transmittal (as they may be amended from time to time), on the other hand, shall be resolved in favor of the latter two documents, except with respect to Exchange Agent duties, liabilities,
compensation and indemnification as Exchange Agent. 

  

	34.	Unless terminated sooner, this Agreement shall terminate 90 days following the Expiration Date. Notwithstanding the foregoing, Sections 21 and 23 shall survive the
termination of this Agreement. Upon any termination of this Agreement, Exchange Agent shall promptly deliver to the Company any certificates for Notes, funds or property then held by Exchange Agent as Exchange Agent under this Agreement.

  

	35.	This Agreement shall be binding and effective as of the date hereof. 

  

	36.	In no event shall either party hereto be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused,
directly or indirectly, by forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware) services. Each of the Company and the Exchange Agent shall use commercially reasonable efforts, consistent with accepted practices in its respective industry, to
resume performance as soon as practicable under the circumstances. 

  

	37.	The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Exchange Agent, in order to help fight the funding of terrorism
and prevent money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Exchange Agent. The parties to this Agreement agree that
they will provide the Exchange Agent with such information as it may request in order for the Exchange Agent to satisfy the requirements of the U.S.A. Patriot Act. 

[Signature pages to follow] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have caused this Exchange Agent Agreement to be
executed by their respective officers, hereunto duly authorized, as of the day and year first above written. 
 RYERSON INC. 

 

			
	 By:
	 	  

			
	 Name:
	 	
	 Title:
	 	

 JOSEPH T. RYERSON & SON, INC. 
  

			
	 By:
	 	  

			
	 Name:
	 	
	 Title:
	 	

 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Exchange Agent 

 

			
	 By:
	 	  

			
	 Name:
	 	Lynn M. Steiner
	 Title:
	 	Vice President

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